Mixue 2097

[winston]

not vested

<Research>HSBC Research Initiates Coverage on MIXUE GROUP (02097.HK) w/ Rating Hold/ TP $544.1

HSBC Global Research issued a research report initiating coverage on MIXUE GROUP (02097.HK) , with rating at Hold and a target price of $544.1.

The Group is a leading freshly-made tea company in mainland China, while the industry is thriving yet remains highly fragmented with low entry barriers.

HSBC Global Research noted two differentiated strategies, naming become the cost leader in the low-priced category, or specialize on a single product in the mid-priced segment.

To the broker, MIXUE GROUP has emerged as the winner in the first category and GUMING (01364.HK) the second.

Related NewsTF Securities: Investors Shall Wait for Easing of Capital/ Sentiment Before Entering HK Stock Mkt, Observe Whether Capital Flows Back to Heavyweights Like BABA & XIAOMI

Source: AASTOCKS Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

not vested

Scaled to lead, priced to win

Largest freshly made beverage chain globally with total store numbers outpacing Starbucks since 1Q25

Intensifying platform war benefiting lower priced chains like Mixue, with sales to see further boom as business enters peak season

Initiate BUY with target price at HKD543 as a key beneficiary as the industry consolidates in the medium term

Source: DBS

https://www.dbs.com/insightsdirect/comp ... ecid=26544

[winston]

not vested

<Results>MIXUE GROUP Interim NP Hikes 42.9% to RMB2.693B; Nil Div.

MIXUE GROUP (02097.HK) announced its interim results for the period ended June 2025.

Turnover rose 39.3% YoY to RMB14.875 billion.

Net profit amounted to RMB2.693 billion, up 42.9% YoY, with an EPS of RMB7.23.

Nil dividend was declared.

Dividend History
Announce Date Event Particular
2025/03/26 Final No Dividend

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

not vested

Mixue dips toe into beer market with first major post-IPO purchase

The leading milk tea chain will pay $40 million for 51% of Fulujia, one of the country’s leading operators of stores selling beer-based drinks

Key Takeaways:

Mixue will pay 285.6 million yuan for a majority stake of a major beer drink store operator, as it expands beyond the crowded bubble tea sector

The acquired company, Fulujia, is controlled by the wife of Mixue’s CEO, but the two sides appear to have negotiated a fair price for the purchase

Source: Bamboo Works

https://thebambooworks.com/mixue-dips-t ... -purchase/

[winston]

not vested

MIXUE GROUP Rallies 9%+ as 1st US Store Opens w/ Signature Ice Cream Priced at US$1.19

MIXUE GROUP's store in Hollywood, Los Angeles, the US, officially opened last Saturday (20th), according to Chinese media.

The store is located directly opposite the TCL Chinese Theatre on the Hollywood Walk of Fame, and is situated in a mature shopping area consumption.

The store's pricing remains consumer-friendly, with the menu showing the signature ice cream priced at US$1.19, iced fresh lemonade at US$1.99, and latte at US$2.99.

Source: AASTOCKS Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

not vested

<Research>Daiwa Downgrades MIXUE GROUP (02097.HK) to Hold, Slashes TP to $427

MIXUE GROUP (02097.HK) faced potential downward valuation reassessment, affected by the slowdown in future earnings growth, while its second growth engine (overseas market/Lucky Cup) has yet to be validated.

Therefore, the broker downgraded MIXUE GROUP from Outperform to Hold, and lowered its valuation basis from a projected 2026 PE ratio of 28x to 22x, with its target price slashed from $535 to $427.

After the subsidy wave, MIXUE GROUP's same-store sales growth remained resilient, and network expansion may provide some support, Daiwa stated.

However, the broker believed that the market may have overly high expectations for the second growth engine.

Daiwa thought MIXUE GROUP's mass market positioning limits product innovation and pricing flexibility compared to mid-tier enterprises like GUMING (01364.HK) and Luckin Coffee.

In terms of business model and long-term moat, MIXUE GROUP is more like TINGYI (00322.HK) than NONGFU SPRING (09633.HK), Daiwa added.

MIXUE GROUP has a strong franchisee network, penetration in lower-tier cities and supply chain advantages, resembling TINGYI's extensive distribution channels.

Source: AASTOCKS Financial News

https://www.aastocks.com/en/stocks/news ... -news/AAFN

[winston]

not vested

MIXUE GROUP Once Rallies 8% After Midday as 2025 NP Hikes ~33%

The Group released its annual results at noon, and its share price ascended after midday.

The stock once shot up 8.1% to a high of $348.8, and last mushroomed 7.25% to $346, with a trading volume of 228,500 shares, involving $77.2498 million.

Related News: MIXUE GROUP Annual NP RMB5.887B, Up 32.7%; Nil Div.

The Group’s 2025 revenue added 35.2% YoY to RMB33.56 billion.

The net profit amounted to RMB5.887 billion, up 32.7% YoY.

EPS was RMB15.65. No dividend was declared.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

not vested

<Research> JPM Downgrades MIXUE GROUP (02097.HK) to "Underweight", Cuts TP to HKD270

JPMorgan published a research report downgrading MIXUE GROUP (02097.HK) from "Overweight" to "Underweight", with the target price slashed from HKD521 to HKD270.

JPMorgan stated that MIXUE GROUP's phase of rapid growth over the years is coming to an end, with management indicating a strategic adjustment this year.

Over the next 12 months, the company will face the withdrawal of external subsidy policies and internal structural challenges, transitioning from a growth-oriented to a value-oriented phase.

Related News: MIXUE GROUP Annual NP RMB5.887B, Up 32.7%; Nil Div.

The firm believes that internal competition between MIXUE GROUP and "Lucky Coffee" is intensifying, coupled with a slowdown in store expansion and pressure on gross margins.

As a result, it has revised down MIXUE GROUP's earnings forecasts for 2026 and 2027 by 9% to 14%.

It is expected that the company's gross margin will narrow by 1.1 ppts to 30% this year, with the risk of rising costs.

Source: AASTOCKS Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN