MINISO Group Holding Limited (MNSO, Financial) saw its Hong Kong shares soar over 18%, which in turn boosted its U.S. pre-market shares by more than 15%. Last Friday, the stock had already jumped over 8%, with a cumulative rise of 20% over the past four days.
The surge follows the company's announcement of its third-quarter financial results ending in September. Revenue reached 4.523 billion yuan, marking a 19.29% year-on-year increase. The gross profit margin improved by 3.1 percentage points to a record high of 44.9%. Shareholder profit rose by 4.76% to 642 million yuan.
Nomura Securities has revised its target price for MINISO's U.S. shares from $25.60 to $26.30.
