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MIXUE Group Class H
(2097)
Select Model
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Rating:77Outperform
Price Target:
HK$240.00
▲(16.39% Upside)
Action:Reiterated
Date:08/29/26
The score is driven primarily by excellent financial performance (fast growth, strong profitability, minimal leverage, and rising free cash flow). This strength is partially offset by weak technicals, with the stock trading below all key moving averages and showing subdued momentum. Valuation is supportive given the ~11.6 P/E, but no dividend data is available.
Positive Factors
Accelerating Revenue Growth
The sharp acceleration in revenue indicates strong customer demand and continued network or market expansion. Sustained top-line momentum can improve purchasing scale, reinforce the franchise ecosystem, and support operating leverage over the next several quarters.
Negative Factors
Margin Compression
Margin compression suggests that rapid expansion may be accompanied by higher input, labor, logistics, or support costs. If this trend persists, incremental revenue could translate into slower earnings growth and reduce the long-term benefits of operating scale.
Read all positive and negative factors
Positive Factors
Negative Factors
Accelerating Revenue Growth
The sharp acceleration in revenue indicates strong customer demand and continued network or market expansion. Sustained top-line momentum can improve purchasing scale, reinforce the franchise ecosystem, and support operating leverage over the next several quarters.
Read all positive factors
MIXUE Group Class H (2097) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$78.28B
Dividend YieldN/A
Average Volume (3M)505.01K
Price to Earnings (P/E)11.3
Beta (1Y)0.09
Revenue GrowthN/A
EPS GrowthN/A
CountryHK
Employees9,102
SectorGeneral
Sector StrengthN/A
IndustryBeverages - Non-Alcoholic
Share Statistics
EPS (TTM)9.74
Shares Outstanding150,883,060
10 Day Avg. Volume691,454
30 Day Avg. Volume505,011
Financial Highlights & Ratios
PEG Ratio0.82
Price to Book (P/B)5.66
Price to Sales (P/S)4.23
P/FCF Ratio25.89
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$302.49Price Target Upside46.70% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)13.59
Revenue Forecast (FY)HK$33.79B
MIXUE Group Class H Business Overview & Revenue Model
Company Description
Mixue Group operates as a prominent purveyor of refreshments and frozen treats, offering a diverse array of fruit beverages, tea-based drinks, ice cream, and coffee products. Its commercial activities extend across mainland China and a wide range ...
How the Company Makes Money
MIXUE Group primarily makes money through a franchise-led, vertically integrated supply-chain model rather than relying mainly on company-operated retail sales. Key revenue streams typically include: (1) Sales of goods and supplies to franchisees ...
MIXUE Group Class H Financial Statement Overview
Summary
Income Statement
90
Very Positive
Balance Sheet
95
Very Positive
Cash Flow
88
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 21.04B | 32.69B | 24.83B | 20.30B | 13.58B | 10.35B |
| Gross Profit | 6.73B | 10.19B | 8.06B | 6.00B | 3.85B | 3.24B |
| EBITDA | 5.04B | 7.89B | 6.24B | 4.44B | 2.85B | 2.67B |
| Net Income | 3.64B | 5.73B | 4.44B | 3.14B | 2.00B | 1.91B |
Balance Sheet | ||||||
| Total Assets | 27.29B | 30.81B | 19.78B | 14.59B | 9.95B | 7.32B |
| Cash, Cash Equivalents and Short-Term Investments | 14.87B | 17.33B | 9.13B | 6.38B | 4.63B | 3.58B |
| Total Debt | 111.11M | 187.34M | 92.55M | 386.17M | 281.64M | 142.76M |
| Total Liabilities | 5.91B | 6.03B | 4.72B | 4.00B | 2.47B | 1.77B |
| Stockholders Equity | 21.25B | 24.46B | 14.96B | 10.51B | 7.45B | 5.54B |
Cash Flow | ||||||
| Free Cash Flow | 3.63B | 5.35B | 4.56B | 2.10B | 1.17B | 740.02M |
| Operating Cash Flow | 4.18B | 6.04B | 6.01B | 3.79B | 2.43B | 1.69B |
| Investing Cash Flow | -5.27B | -6.36B | -7.02B | -825.34M | -2.20B | -1.83B |
| Financing Cash Flow | 3.56B | 3.51B | -277.44M | -111.32M | -139.26M | 726.65M |
MIXUE Group Class H Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | HK$476.85B | 24.04 | 44.39% | 2.70% | 26.71% | 31.59% | |
77 Outperform | HK$78.28B | 11.29 | 25.76% | ― | ― | ― | |
76 Outperform | HK$11.27B | 10.78 | 12.97% | 4.42% | 4.39% | 8.53% | |
71 Outperform | HK$32.18B | 12.76 | 16.17% | 7.33% | 3.65% | 4.00% | |
71 Outperform | HK$17.89B | 20.35 | 7.15% | 8.48% | ― | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
44 Neutral | HK$196.78M | -11.07 | -7.25% | 2.11% | -1.25% | -6.69% |
* General Sector Average
HK:2097
MIXUE Group Class H
206.20
-201.60
-49.44%
HK:0220
Uni-President China Holdings
7.50
-0.84
-10.12%
HK:9633
Nongfu Spring Co., Ltd. Class H
41.84
-8.66
-17.14%
HK:1446
Hung Fook Tong Group Holdings Ltd
0.31
-0.14
-30.68%
HK:0506
China Foods Limited
4.01
0.16
4.24%
HK:2460
China Resources Beverage (Holdings) Company Limited
7.44
-3.45
-31.68%
MIXUE Group Class H Corporate Events
MIXUE Group Posts Modest Revenue Growth but Profit Declines on Rising Costs
Aug 27, 2026
MIXUE Group reported unaudited interim results for the six months ended June 30, 2026, showing revenue of RMB15.22 billion, up 2.3% year-on-year. The growth was driven mainly by a 2.1% increase in sales of goods and equipment and a 10.0% rise in r...
MIXUE Group Announces RMB 2.65 Special Dividend for 2026
Aug 27, 2026
MIXUE Group has declared a special cash dividend of RMB 2.65 per share for the financial year ending 31 December 2026, with payment scheduled for 6 November 2026, subject to shareholder approval. Key administrative details such as the default paym...
MIXUE Group Sets Board Meeting to Approve 2026 Interim Results
Aug 17, 2026
MIXUE Group has scheduled a board meeting for Thursday, August 27, 2026, to review and approve the group’s interim results for the six months ended June 30, 2026 and to authorize their publication. The meeting will also address other unspeci...
MIXUE Group Wins Strong Shareholder Backing at 2026 AGM
Jun 26, 2026
MIXUE Group held its annual general meeting on June 26, 2026, in Zhengzhou, with shareholders representing about 94% of voting shares in attendance, and confirmed full compliance with PRC company law and its articles of association. All proposed o...
MIXUE Group Sets 2026 AGM to Approve 2025 Results and New Share Mandate
May 29, 2026
MIXUE Group has called its annual general meeting for June 26, 2026, in Zhengzhou, where shareholders will review and approve the board and supervisory committee reports, audited consolidated financial statements, and the annual report for the yea...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.