BofA Securities: Upgrades Miniso Group Holding Limited (09896.HK) to "Neutral" Rating, Second Quarter Performance Exceeds Expectations.

According to the Wise Finance APP, Bank of America Securities released a research report stating that the rating of Miniso Group (09896.HK) was upgraded from "underperforming the market" to "neutral" due to its second quarter performance exceeding expectations. Revenue and non-IFRS net profit increased by 23% and 11% respectively, accelerating from a 19% growth and 5% decline in the first quarter. In particular, the non-IFRS net profit exceeded the bank's estimate by 14%, benefiting from revenue beating expectations by 3% and improved profit margins.