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Wednesday, May 25, 2022

Missfresh Ltd. (MF) Stock Rebounds Premarket Following an Update on 300% Surge in Sales for Q4 2021.

Missfresh Ltd. (MF) is a leading company in the Chinese neighborhood retail business. It invented the Distributed Mini Warehouse model for the operation of an integrated online-and-offline on-demand retail enterprise aimed at offering fast-moving consumer goods. The clients can easily buy the best quality groceries at their doorsteps using the company’s mobile app and Mini Program.


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MF stock price during the regular trading of March 31, 2022, was $0.90 with a significant reduction of 29.3%. Its price rebounded as of the writing in the premarket session of April 1, 2022, by 5.17%.

MF: Events and Happenings

On March 30, 2022, MF announced Q4 2021 sales for the company’s private-label Fresh Joy product range rose by 300%, in comparison to Q1 2021. The gain in sales is the outcome of its continuous investment in the quality of private label products.

On March 07, 2022, MF reported its entry into a Standby Equity Purchase Agreement with YA II PN, LTD., to sell approximately $300 million of its ordinary shares, in the sole discretion and at its request. On March 2, 2022, MF updated on signing a contract for the addition of up to 70 hectares of land to its vegetable farm network.

On February 16, 2022, MF stated the completion of phase 1 of the rollout of its 1V1 Advisor personalized shopping concierge facility. The per-client average number of orders and average revenue per unit presented in its 1V1 Advisor program had shown improved rankings, up 70% and 100% respectively, as compared to non-concierge service clients.

MF: Key Financials

MF issued its unaudited financial outcomes on November 11, 2021, for the third quarter of the fiscal year 2021 ended on September 30, 2021. Some key highlights are as follows

Revenue

The company posted total net revenue of RMB2,121.9 million during Q3 2021, against RMB1,441.2 million for the corresponding quarter of 2020. The revenue of the company represented a 47.2% gain YoY.

EPS

Net loss basic and diluted for Q3 2021 was RMB973.7 million or RMB4.23 per ADS corresponding to RMB616.2 million or RMB18.18 per ADS in the corresponding third quarter of 2020. The company’s EPS inclined considerably YoY.

Conclusion

MF stock performance is dwindling in the past year as it went 90% down in the period. Its stock currently rebounded in Friday’s premarket as the company announced a 300% gain in private label sales for the fourth quarter of 2021.

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