Missfresh Ltd - MF STOCK NEWS

Missfresh Limited (NASDAQ: MF) reported a 47.2% increase in net revenues, totaling RMB2,121.9 million (US$329.3 million) for Q3 2021. Gross margin improved to 12.3%, a 480 basis points increase from Q2 2021, surpassing guidance. Total GMV rose by 41.0% to RMB2,572.9 million (US$399.3 million) with 28.7 million orders fulfilled, a 34.4% year-over-year increase. Non-GAAP net loss increased to RMB886.5 million (US$137.6 million). For Q4 2021, the company expects revenues between RMB2,232 million and RMB2,315 million, reflecting 35%-40% year-over-year growth.

Missfresh Limited (NASDAQ: MF) has launched its new "Missfresh Premium Dishes" brand, expanding its range of over 800 ready-to-cook, ready-to-heat, and ready-to-eat products. The initial release features popular hot pot options such as lamb spine soup and beef bone broth, rapidly selling out due to high consumer demand. This launch exemplifies Missfresh's ability to adapt to consumer trends and optimize its supply chain and distribution capabilities. The company aims to enhance gross profit margins while catering to the growing demand for convenient meal solutions driven by the ongoing "Lazy Economy" trend.

Missfresh Limited (NASDAQ: MF) will report its Q3 2021 financial results on November 11, 2021, after U.S. markets close. An earnings conference call is scheduled for 8:00 PM ET on the same day, where management will discuss the outcomes. Investors can access the earnings release on the company's investor relations website. Missfresh is a leader in China’s neighborhood retail sector, utilizing a Distributed Mini Warehouse model to offer online and offline services for fresh produce and FMCGs, delivering products in an average of 37 minutes.

Missfresh Limited (NASDAQ: MF) reported a remarkable 250% increase in sales for its in-house fresh food brand, Xiang An Xin, in Q3 2021 compared to the same period last year. This surge is attributed to the company's investments in its supply chain and the growing trend of in-house branded goods in China's retail market. The Xiang An Xin brand, which offers over 200 products including meats and vegetables, benefits from a strong supplier network of 200 farms and 350 factories. This robust growth reflects the rising consumer preference for high-quality, value-for-money products.

Missfresh Limited (NASDAQ: MF) has enhanced its supply chain by sourcing directly from 200 farms and 350 factories across China. This initiative allows the company to control product quality and pricing while ensuring freshness by reducing middlemen. Over 90% of its fresh produce now comes directly from farms. In Q3 2021, sales for daily fresh meat specials surged by 86% compared to the previous quarter. The company aims to continue improving efficiency with a new sales-based production model, boosting margins and enhancing customer experience.

Missfresh (NASDAQ: MF) has partnered with popular fitness app Keep to launch a new line of healthy snacks, aiming to cater to health-conscious consumers in China. The snacks are available through Missfresh's on-demand retail platform, utilizing their fast delivery network in 17 cities. This collaboration seeks to capitalize on the growing demand for healthy food options, highlighted by a 28.57% annual growth rate in sports nutrition. The product range includes items like KEEP Dark Chocolate and KEEP Protein Bars, appealing to a market actively pursuing fitness and wellness.

Missfresh Limited (NASDAQ: MF) announced its expansion of instant live seafood delivery services across eight major cities in China, including Beijing and Shanghai. The service has seen a remarkable 20X growth in sales since March, highlighting strong demand for fresh seafood. Utilizing a unique Distributed Mini Warehouse model, Missfresh ensures maximum freshness through advanced logistics and stringent quality control, offering over 100 seafood products tailored to regional tastes. Starting September, seasonal seafood like mitten crab will also be available, further enhancing their offerings.

Missfresh (NASDAQ: MF) reported its Q2 2021 financial results with total net revenues of RMB1,894.5 million (US$293.4 million), up 40.7% year-on-year. Total GMV reached RMB2,313.7 million (US$358.3 million), a 35.4% increase. The number of orders fulfilled hit 23.8 million, a 32.2% rise, while the average price per order increased by 2.6% to RMB96.1 (US$14.9). The company announced the appointment of Xi (Catherine) Chen as Co-CFO. Missfresh continues to expand its Intelligent Fresh Market business, operating 34 markets across 11 cities.

Missfresh Limited (NASDAQ: MF), a leader in China's neighborhood retail sector, announced its participation in several upcoming investor conferences. Key events include the Nomura China Investor Forum (Aug 30 - Sep 3, 2021), Goldman Sachs Food Forum (Sep 7-9, 2021), and more. Management will engage with institutional investors at these virtual and in-person events. Missfresh is known for its Distributed Mini Warehouse model, optimizing online and offline grocery shopping, delivering quality produce in around 37 minutes on average.