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MIXUE Group Class H
(2097)
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Rating:76Outperform
Price Target:
HK$274.00
▼(-4.40% Downside)
Action:Reiterated
Date:06/02/26
The score is driven primarily by very strong financial performance (rapid growth, strong profitability, low leverage, and solid free cash flow). This is tempered by weaker longer-term technical trend signals (below key moving averages and negative MACD) and a moderate-to-premium valuation (P/E ~25.3 with no dividend yield provided).
Positive Factors
Revenue Growth Momentum
Sustained, accelerating top-line growth implies stronger market penetration and successful unit economics. Over 2–6 months this durable trend supports scale benefits, pricing leverage and continued investment capacity, underpinning longer-term profit and cash generation.
Negative Factors
Margin Compression
Eroding margins suggest rising cost pressure or competitive pricing dynamics. If structural, margin compression can materially reduce future net income and free cash flow per unit of revenue, limiting the company’s ability to reinvest while maintaining returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth Momentum
Sustained, accelerating top-line growth implies stronger market penetration and successful unit economics. Over 2–6 months this durable trend supports scale benefits, pricing leverage and continued investment capacity, underpinning longer-term profit and cash generation.
Read all positive factors
MIXUE Group Class H (2097) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$86.78B
Dividend YieldN/A
Average Volume (3M)655.71K
Price to Earnings (P/E)20.3
Beta (1Y)0.08
Revenue GrowthN/A
EPS GrowthN/A
CountryHK
Employees7,025
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Non-Alcoholic
Share Statistics
EPS (TTM)N/A
Shares Outstanding150,883,060
10 Day Avg. Volume1,047,413
30 Day Avg. Volume655,708
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$421.13Price Target Upside46.94% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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
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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 (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | HK$445.58B | 24.29 | 44.79% | 1.73% | 22.57% | 31.01% | |
76 Outperform | HK$86.78B | 20.29 | 17.79% | ― | ― | ― | |
70 Outperform | HK$8.64B | 8.62 | 12.76% | 3.62% | 2.61% | -0.12% | |
65 Neutral | HK$29.16B | 12.16 | 15.51% | 5.64% | 4.51% | 10.64% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
62 Neutral | HK$17.55B | 15.67 | 8.95% | 6.30% | ― | ― | |
46 Neutral | HK$236.14M | -14.12 | -6.67% | ― | -3.29% | -22.01% |
* Consumer Defensive Sector Average
HK:2097
MIXUE Group Class H
228.60
-304.40
-57.11%
HK:0220
Uni-President China Holdings
6.75
-2.10
-23.70%
HK:9633
Nongfu Spring Co., Ltd. Class H
39.62
0.57
1.45%
HK:1446
Hung Fook Tong Group Holdings Ltd
0.36
-0.05
-12.20%
HK:0506
China Foods Limited
3.09
0.18
6.11%
HK:2460
China Resources Beverage (Holdings) Company Limited
7.32
-4.56
-38.38%
MIXUE Group Class H Corporate Events
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...
MIXUE Group Plans H Share Incentive Scheme and Governance Overhaul
May 27, 2026
MIXUE Group’s board has proposed the adoption of an H Share Award Scheme to recognize and incentivize participants, align their interests with the group’s overall value creation, and attract and retain top talent for its long-term deve...
MIXUE Group Seeks Full Circulation of Unlisted Shares as H Shares in Hong Kong
May 3, 2026
MIXUE Group has applied to China’s securities regulator to convert 22,823,988 domestic unlisted shares, representing about 6.01% of its issued share capital, into H shares tradable on the Hong Kong Stock Exchange. The proposed full circulati...
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.