Deutsche Bank: despite facing pressure on profit margins, Miniso's growth is expected to remain strong.

Sammi Xu of Deutsche Bank stated in a research report that despite facing pressure on profit margins, Miniso's growth is expected to remain strong. The company's adjusted net profit for the fourth quarter was lower than market average expectations, but management's outlook for achieving high double-digit revenue growth in 2026 and low single-digit growth in same-store sales in the Chinese and American markets is a positive signal. Xu said, "We believe that the current valuation is an attractive entry point for a company achieving double-digit growth in the consumer sector in China, and the company currently offers a significant dividend yield." Deutsche Bank maintains a buy rating on the stock, but has lowered its target price from 44.00 Hong Kong dollars to 41.00 Hong Kong dollars. The stock is currently trading at 31.80 Hong Kong dollars.