Meituan's PinHaoFan launches 'Million Bright Kitchens'; First locally produced XPeng X9 in Indonesia delivered | Today's Important News Recap

0725 ｜Dolphin Research Key Focus:

🐬 Individual Stocks

1.$MEITUAN(03690.HK)

Meituan's subsidiary, PinHaoFan, officially announced the launch of the "Million Bright Kitchens" plan, aimed at enhancing transparency in food hygiene and increasing consumer trust. For merchants who open their kitchens through live streaming and other formats, PinHaoFan will provide special support and subsidies. It also plans to assist at least 300,000 merchants in creating "explosive products" and support "bright kitchen merchants" through traffic tilt and homepage recommendations, thereby promoting standardized operations and improving food quality. If this plan effectively enhances user retention and merchant quality for PinHaoFan, Meituan's moat in the low-cost food delivery market will be strengthened.

2.$Miniso(MNSO.US)

MINISO's U.S. stock rose nearly 7% last night. According to previously released data from MINISO, the MINISO LAND Global No.1 Store on Nanjing East Road in Shanghai achieved single-store sales exceeding 100 million yuan within nine months of opening, with IP series products contributing 79.6% of sales. The single store broke 100 million in nine months, with sales per square meter exceeding 5,000 yuan/month, setting a company record and proving the replicability of the "Super IP + Immersive Large Store" model. The high proportion of IP sales not only locks in high gross margins but also reduces inventory risk, providing a profitable template for future expansion in high-end shopping districts.

3.$XPENG-W(09868.HK)

XPeng announced yesterday that its Indonesian factory has started production, with the first locally produced XPeng X9 delivered to an Indonesian customer. Indonesia thus becomes XPeng's first country to achieve localized manufacturing. Local production helps bypass import tariffs on complete vehicles, significantly reducing costs, and allows for rapid product iteration to meet the needs of Indonesia's right-hand drive and large family markets, marking a key move in the dual expansion of production capacity and brand presence in Southeast Asia.

4. Dolphin Research Core Focus on Financial Reports and Conference Calls

Intel: "Intel: After Major Layoffs, Is the American 'SMIC' the Best Outcome?", "Intel (Minutes): 18A Production Peak Expected Around 2030"

🐬 Leading Sectors

Shanghai and Shenzhen: Data Processing and Outsourcing Services, Water and Soft Drinks, Footwear;

Hong Kong Stocks: Semiconductor Manufacturers, Industrial Gases, Insurance Brokerage Companies;

U.S. Stocks: Life Sciences Tools and Services, Diversified Capital Markets, Diversified Real Estate Activities.

🐬 Focus for Tomorrow

1. None.

Risk Disclosure and Statement of this Article: Dolphin Research Disclaimer and General Disclosure