HK Stock Market Move | MNSO (09896) shares fell over 6% after its performance. The net profit after deducting non-recurring items in the first quarter was 550 million, a 6% decrease year-on-year.

MNSO (09896) fell by over 6% after the performance results, dropping by 6.78% to HK$24.2 as of the time of reporting, with a trading volume of HK$73.45 million. In terms of news, MNSO announced that the group's revenue for the first quarter was 5.688 billion yuan, a year-on-year increase of 28.5%; the adjusted net profit was 551 million yuan, a year-on-year decrease of 6.1%; excluding exchange gains and losses, it was 633 million yuan, a year-on-year increase of 8.1%; the adjusted net profit margin was 9.7%, compared to 13.3% for the same period last year; excluding exchange gains and losses, it was 11.1%, compared to 13.2% for the same period last year. EB SECURITIES released a research report stating that the upfront investment impairment of Yonghui's shares, the financial expenses of convertible bonds, and the cost pressure brought by overseas direct store expansion have been concentrated in the past 25 years, dragging down the current profit base; starting in 26 years, with the continuous promotion of same-store sales improvement through the optimization of domestic store structure, the scale effect of overseas direct-operated stores is gradually released, and operational leverage is expected to be repaired.