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MISSFRESH LIMITED

(MF)
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Missfresh Expands On-Demand Live Seafood Delivery Business to 8 Cities in China

09/16/2021 | 08:29am EST

Missfresh Limited is accelerating the rollout of its instant live seafood delivery (as quick as 30 minutes) to customers across China, having seen 20X growth in live seafood delivery sales since March. Missfresh has launched the new category in eight of the country's most populous first-tier and second-tier cities: Beijing, Shanghai, Shenzhen, Tianjin, Hangzhou, Ningbo, Suzhou, and most recently Nanjing. Maximum freshness, food safety and speedy delivery of live seafood is ensured Missfresh's pioneering supply and distribution cold chain as well as by tapping into its fresh food e-commerce expertise and experience gained over the past seven years. The company's Distributed Mini Warehouses (DMWs) – which integrate warehousing, sorting and distribution to streamline the retail distribution chain – are equipped with fish tanks of different salinity and temperatures, customized for various types of seafood. Customers can currently choose from more than 100 products curated to cater to Chinese people's love for live, fresh seafood as well as the taste preferences of different regions in China. For example, customers from eastern China can obtain seafood from nearby Qiandao Lake, while specialties like abalone and turbot are sourced from Dongshan Island and Xingcheng, respectively. Missfresh has optimized quality control processes to uphold high standards of food safety during delivery. All seafood is delivered live in special packaging injected with oxygen, which keeps seafood fresh by minimizing external exposure, or customers can choose to have their purchases delivered pre-cleaned and ready to cook, eliminating the hassle of handling live seafood. To ensure customer safety and satisfaction, all live seafood is carefully sourced and put through stringent safety checks. Customers can also access test reports for each product in the product details section of the Missfresh app. Missfresh's approach to the live seafood supply and distribution chain stands out from some other retailers, who purchase and transport live seafood every few days, resulting in longer storage periods. With an efficient logistics system and AI-enabled supply chain, live seafood is delivered to Missfresh's city sorting centers every day, further ensuring maximum freshness. From September onwards, customers will also be able to purchase seasonal seafood like mitten crab, on top of the range of seafood that is offered year-round.


ę S&P Capital IQ 2021
All news about MISSFRESH LIMITED
11/24CICC Starts Missfresh at Outperform With $7 Price Target
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11/22Citigroup Starts Missfresh at Buy With $7.08 Price Target
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11/19JPMorgan Starts Missfresh at Overweight With $5.70 Price Target
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11/12MISSFRESH : Reports Third Quarter 2021 Unaudited Financial Results - Form 6-K
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11/11Missfresh Limited Reports Third Quarter 2021 Unaudited Financial Results
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11/11Earnings Flash (MF) MISSFRESH LIMITED Reports Q3 Loss $-0.60
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11/11Missfresh Limited Reports Third Quarter 2021 Unaudited Financial Results
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11/11Missfresh Limited Provides Earnings Guidance for the Fourth Quarter of 2021
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11/09Missfresh's Popular High-quality 'Ready Meals' Range Expands to Over 800 Products
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11/09Missfresh's Popular High-quality 'Ready Meals' Range Expands to Over 800 Products
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Analyst Recommendations on MISSFRESH LIMITED
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Financials
Sales 2021 7 822 M 1 224 M 1 224 M
Net income 2021 -3 855 M -603 M -603 M
Net cash 2021 917 M 144 M 144 M
P/E ratio 2021 -2,02x
Yield 2021 -
Capitalization 7 902 M 1 236 M 1 236 M
EV / Sales 2021 0,89x
EV / Sales 2022 0,69x
Nbr of Employees 1 335
Free-Float 86,9%
Chart MISSFRESH LIMITED
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 7
Last Close Price 33,56 CNY
Average target price 51,43 CNY
Spread / Average Target 53,2%
EPS Revisions
Managers and Directors
Xu Zheng Chairman & Chief Executive Officer
Jun Wang Co-Chief Financial Officer & Director
Xi Chen Co-Chief Financial Officer
Yang Li Chief Technology Officer
Han Song Zhu Independent Director
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