Mixue shares extend slide after profit drop as ice cream-and-tea chain sees costs rise
Mixue shares extended losses after the Chinese ice cream and tea giant reported lower first-half profit despite higher revenue.
TL;DR
- Mixue Group shares fell over 7% in Hong Kong, extending losses for a second day.
- First-half profit declined by 14.7% to 2.32 billion yuan, despite a 2.3% rise in revenue to 15.22 billion yuan.
- Rising costs in sales, distribution, and administration put pressure on profitability.
- Mixue operates nearly 63,987 stores globally, surpassing McDonald's in store count.
- The company plans to expand overseas, particularly in Southeast Asia, central Asia, and the Americas.
- Mixue also aims to develop its Snow King mascot into a global cultural brand through various media and attractions.