BOC International has lowered the target price of Minth Group Limited (09896.HK) to 48.4 Hong Kong dollars. Its own IP strategy and guidance are becoming more proactive.

According to the financial news app Techfin, China Citic International released a research report stating that Miniso (09896.HK) recorded a 23% year-on-year increase in second quarter revenue to 4.966 billion yuan, exceeding previous guidance. Adjusted net profit also increased by 11% year-on-year to 691 million yuan, showing relatively strong performance and surpassing market expectations. This reflects some positive progress, including the return to positive same-store growth in China, strong performance in the US market, and successful progress in using the large store model and IP play for driving traffic. The bank believes that after successfully implementing a series of adjustments, Miniso has now returned to the right track and can show stronger returns. The bank has lowered its target price to 48.4 Hong Kong dollars, but maintains a "buy" rating.