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MF Entertainment (MF) is a leading creator of premium live experiences, from charity golf tournaments to brand activations. This news hub provides investors and enthusiasts with timely updates on the company's event developments, financial performance, and community initiatives.
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Missfresh Limited (NASDAQ: MF) reported a 40.7% increase in net revenues to RMB1,894.5 million (US$293.4 million) for Q2 2021, driven by a 32.2% rise in fulfilled orders. Total Gross Merchandise Value (GMV) rose 35.4% to RMB2,313.7 million (US$358.3 million). Despite these gains, gross profit fell 50.6% to RMB141.9 million due to higher costs and increased discounts, resulting in a gross margin of 7.5%. The company projects Q3 2021 revenues between RMB2,020 million to RMB2,090 million, reflecting a growth of 40% to 45% year-over-year.
Missfresh Limited (NASDAQ: MF) has launched a microwavable food subdivision, capitalizing on the growing demand for convenience meals in China due to the 'Lazy Economy' and the pandemic. The new service offers over 20 meal options, including popular branded items. Sales of microwavable meals have surged, evidenced by a 9800% increase for a hot pot noodle product during the pandemic. The company leverages its Distributed Mini Warehouse model, ensuring fresh quality through strict cold chain management, while aiming to enhance customer experience and product variety.
Missfresh Limited (NASDAQ: MF) reported a remarkable 389% increase in sales on JD.com and JD-Daojia since teaming up with JDDJ in April. This collaboration leverages approximately 570 Distributed Mini Warehouses across 17 cities, including Beijing and Shanghai, enhancing consumer access to on-demand grocery delivery. The top-selling categories include fruits, vegetables, and dairy. Missfresh continues to innovate with its Distributed Mini Warehouse model, offering fast delivery times and a wide range of fresh products.
Missfresh Limited (NASDAQ: MF) has partnered with over 5,000 businesses in Beijing to deploy its Convenience Go Smart Vending Machines, enhancing retail digitalization and consumer convenience. These machines can be replenished multiple times daily, thanks to an optimized supply chain. Featuring contactless payment options, they cater to various public spaces, reducing labor costs. The self-service retail market in China is projected to grow from $13 billion in 2018 to $38.5 billion by 2023, with a CAGR of 24.12%. Missfresh's smart vending machines utilize advanced AI for inventory management and customer recognition.
Missfresh Limited (NASDAQ: MF) is set to report its second quarter 2021 unaudited financial results on August 26, 2021, after U.S. market close. An earnings call is scheduled for 9:00 PM ET on the same date, with a replay available until September 2, 2021. Missfresh is a leader in China's neighborhood retail sector, known for its innovative Distributed Mini Warehouse model, providing on-demand delivery of groceries within an average of 39 minutes. Investors can access the call details and financial results on their investor relations website.
MissFresh (NASDAQ: MF) has teamed up with Mondelēz International (NASDAQ: MDLZ) to launch OREO Zero, a sugar-free cookie range, on its platform in China. Shoppers can receive these cookies within 30 minutes, targeting health-conscious consumers. The launch was highlighted by an OREO Super Brand Day on August 17, featuring Oreo Zero Cookies and rose-flavored Oreo Zero Thin Cookies. MissFresh is expanding its FMCG offerings, with 42% of gross merchandise value now from these goods, and aims to further enhance its product range while maintaining a focus on fresh produce.
MissFresh Limited (NASDAQ: MF) announced a remarkable 467% increase in online flower sales during the Qixi Festival, surpassing previous sales from the "520" holiday. The company implemented presales starting August 5, 2021, leading to sold-out flowers across all 17 operating cities. This surge aligns with the broader growth of China's e-commerce in fresh flowers, which saw its market value expand from US$3.63 billion in 2017 to US$11.12 billion in 2020. MissFresh's unique Distributed Mini Warehouse model enhances delivery efficiency and pricing stability.
Missfresh Limited (NASDAQ: MF) has announced the appointment of Mr. Shun Lam Steven Tang as an independent director and changes to its board composition. He will serve on the audit and compensation committees and chair the nominating committee. Mr. Hansong Zhu takes on the role of chairman of the compensation committee. Mr. Zheng Xu, the chairman and CEO, has stepped down from the audit and nominating committees, while CFO Jun Wang leaves the compensation committee. All committees will now consist solely of independent directors, enhancing governance.
MissFresh Limited (NASDAQ: MF), a leader in China's neighborhood retail industry, has launched over 70 live seafood offerings on its grocery delivery app in cities including Beijing, Shanghai, and Tianjin. This follows a successful soft launch earlier in 2021. The company emphasizes quality control, with all live seafood undergoing stringent safety checks. Utilizing a specialized cold chain and oxygen-injected water bags, MissFresh ensures maximum freshness. Customers also benefit from a live fish cleaning service, enhancing convenience and delivery speed, averaging 39 minutes.
On July 31, 2021, MissFresh (NASDAQ: MF) announced the launch of its fast home delivery operations in Ningbo, China, marking its 17th city expansion. The company will utilize Distributed Mini Warehouses (DMWs) to offer over 4,300 products, ensuring delivery within an average of 39 minutes. Plans include opening 10 DMWs initially, and a total of 25 within six months, covering key urban areas. Over 80% of products are sourced directly from origin, emphasizing quality and food safety, especially for seafood, catering to consumer demand in the city.
