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brothers and sisters, please continue to pay attention to news from overseas markets tonight.

miniso plummets

in the u.s. stock market tonight, there is another chinese stock that has attracted much attention from the market, with miniso's share price plummeting by more than 15%.

on the news front, yonghui supermarket announced that its shareholders dairy farm, jd world trade and suqian hanbang intend to transfer their 1.913 billion, 367 million and 387 million shares to guangdong juncai international trading co., ltd. through an agreement transfer, accounting for 21.08%, 4.05% and 4.27% of the company's total share capital respectively. after the completion of this transaction, the company's largest shareholder will be changed to juncai international, which will hold a total of 29.40% of the company's shares. juncai international and its actual controlling party miniso will work with yonghui supermarket to transform to a quality retail model.

the announcement shows that the consideration for the target shares of the transaction between juncai international and dairy farm is rmb 4.496 billion, corresponding to a price of rmb 2.35 per share. the consideration for the target shares of the transaction between juncai international and jd world trade and suqian hanbang is rmb 1.774 billion, corresponding to a price of rmb 2.35 per share.

zhang jingjing, cfo of miniso, said that first, from the perspective of retail, miniso is optimistic about the prospects of yonghui supermarket's restructuring and believes that this business has a future. second, yonghui supermarket's current valuation is attractive, with a low premium on investment costs and a high safety margin. after miniso enters, it will be able to help yonghui supermarket optimize its current shareholder structure and governance structure, support its existing business direction, and better leverage the integration advantages of both parties in channel upgrades and supply chains.

yonghui superstores' latest 2024 semi-annual report shows that in the first half of this year, it achieved revenue of 37.779 billion yuan, a year-on-year decrease of 10.11%; net profit attributable to the parent company was 275 million yuan, a year-on-year decrease of 26.34%; the comprehensive gross profit margin was 21.58%, a year-on-year decrease of 0.41%. yonghui superstores added 5 stores in the first half of the year, closed 62 stores, and opened a total of 943 stores; 86 stores have signed contracts but have not yet opened. in addition, yonghui's online business revenue in the first half of the year was 7.84 billion yuan, accounting for 20.8% of total revenue.

on august 30, miniso released its 2024 first half performance report, showing that in the first half of the year, miniso's revenue increased by 25% year-on-year to 7.76 billion yuan; adjusted net profit was 1.24 billion yuan, a year-on-year increase of 17.8%. among them, overseas business revenue exceeded 2.7 billion, a year-on-year increase of 43%. the direct sales market in overseas business accounted for 56% of overseas revenue, which has exceeded the agency market.

chinese stocks surge

tonight, the three major u.s. stock indexes performed flat, all rising slightly.

chicago fed president austin goolsbee said on monday that the federal reserve should now adopt a more aggressive monetary easing policy as inflation gradually recedes.

“as our confidence grows that we are returning to our 2 percent inflation objective, it will be appropriate to focus more on another of the fed’s responsibilities — thinking about risks to employment, not just inflation,” goolsbee said in a speech to the association of state treasurers.

he added: “given the trend in economic conditions, this could mean more rate cuts over the coming year.”

analysts say the stock market will remain highly vigilant about any economic data that could dampen hopes for a "soft landing." according to portfolio manager brian burrell: "we are entering a period of election risk, and the fed will be paying attention to the data, especially the labor market, as we see particular weakness in the low end of the u.s. market. with the rate cuts we're seeing, there will be a balance between the easing of financial conditions and the weakness in the labor market."

in addition, chinese assets surged tonight, with the nasdaq china golden dragon index soaring by more than 2% at one point, and the a50 index rising by nearly 0.5%!

on the news front, at 9 a.m. beijing time on the 24th, pan gongsheng, governor of the people's bank of china, will meet with li yunze, director of the state financial supervision and administration bureau, and wu qing, chairman of the china securities regulatory commission, at the state council information office to introduce the financial support for high-quality economic development. the market expects that relevant favorable policies may be introduced.

according to the analysis of the minsheng macroeconomics team, historically, the period before the national day holiday seems to be an important window for the introduction of policies. the political bureau meeting in july this year pointed out that "macroeconomic policies should continue to be more effective", but the economic growth rate in the third quarter is likely to slow down compared with the first half of the year, and the policy actions in the last week before the holiday are still worth looking forward to.