FAST NEWS: Miniso’s Profit Leaps on Strong Margin Gains

The Latest: Store operator Miniso Group (MNSO.US; 9896.HK) on Monday reported its revenue rose 4.5% year-on-year to 2.8 billion yuan ($396 million) in its latest fiscal quarter through September, while its profit rose 161.5% to 404.1 million yuan over the same period. Looking Up: The big profit increase came as Miniso boosted its gross margin to 35.7% in its latest fiscal quarter from 27.4% a year earlier. Take Note: While the months of July and August were relatively strong, Miniso said resurgences of Covid-19 and resulting control measures in September…

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Fosun Pharma Sells Down BioNTech Stake, Though Divorce Looks Unlikely

The Chinese company profited handsomely from its investment in the German vaccine maker, and is most likely selling the stake to help service its parent’s large debt Key Takeaways: Fosun Pharma said it sold 1.09 million BioNTech shares for $179 million, generating big profits after the stock rose more than fivefold from the original purchase price Fosun Pharma said the sale won’t affect the two companies’ business alliance, which includes plans to bring BioNTech’s high-tech mRNA Covid vaccines to China By Doug Young   Could a highly-hyped alliance between financial…

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