On April 25, the company announced that it expects to achieve an adjusted net profit (a non-IFRS financial indicator and defined as a period profit excluding expenses paid on equity-settled shares) of no less than RMB400 million for the quarter ended March 31, 2023 (first quarter), compared with RMB1 for the same period in 2022..10.7 billion yuan year-on-year growth of not less than 260%。

In response, Jefferies released a research report saying that it expects its overseas business to continue to grow strongly in the third fiscal quarter to the end of March this year; in the mainland market, the bank said it has observed a sustained recovery, but due to seasonal reasons, overall sales in March were slightly slower than during the Spring Festival.。

The bank expects the company's fiscal third-quarter gross margin to grow 7.3 percentage points, but decreased by 2% month-on-month due to the smaller contribution of sales in overseas markets..5 percentage points。Adjusted net profit is also expected to grow 246% to 3.9.7 billion yuan, sales increased by 23%。As a result, the bank will maintain its "buy" rating and raise its price target to 44..HK $7。

As of the close of Hong Kong stocks, Mingchuang Premium fell slightly by 0% during the day..78%, now 31.HK $6。

Fundamentally, public data show that Asia (excluding China) is the largest overseas market for Mingchuang by number of stores and GMV.。Since the start of the globalization strategy in 2015, Mingchuang has entered Southeast Asia, America, Europe and other places, opening stores in nearly 150 countries around the world.。According to Mingchuang's 2022 financial report, it has 3,325 stores in the Chinese market, up about 5% year-on-year, and 2,115 stores in overseas markets, up about 13% year-on-year.。

It is worth noting that it is reported that the new concept store in Indonesia recently opened in Jakarta, the store covers an area of nearly 700 square meters, with blind boxes, toys and beauty and other areas, aimed at bringing consumers a new experience.。Although this is a renovation of the old store, but the product category and store design have been upgraded, the maximum amount of a single day during the opening period than before last year's renovation increased by three times.。

The overseas expansion of Mingchuang Youpin has been going on steadily.。The company pointed out that in the second half of 2023, it will plan to expand online products and broaden online sales channels through further development of its own e-commerce channels and cooperation with more third-party e-commerce and O2O platforms.。At the same time will continue to invest in brand building, through marketing activities and customer participation activities to enhance the liquidity of products.。