Sep. 1 at 10:05 AM
$MNSO The massive book‑loss stems from an unrealized fair‑value loss of approximately
$597 million stemming from AI‑fund investments. When this is excluded, adjusted net income stands at
$590 million — yet it is still down 10.5% year‑over‑year. The real pain point is that underlying operating profits are deteriorating. Meanwhile, the company plans to net‑close 50‑70 overseas stores in the second half of the year, marking its first‑ever net store contraction since going public.
