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MINISO Group Holding Limited (MNSO) Q1 2026 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Operator

Hello, everyone, and thank you for standing by. Welcome to MINISO March Quarter 2026 Earnings Results Presentation.

[Operator Instructions]

Please also be reminded the event will be recorded. We provide you English simultaneous translation for this call. Please select your preferred language by clicking interpretation in the Zoom meeting. We released our Q1 2026 results earlier this [ year ]. Please help to refer to our IR website. Joining us here today are Mr. Jack Ye, our Founder and CEO; and Mr. Eason Zhang.

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Right before we begin, please refer to the safe harbor statement in our earnings press release, which also apply for this call as we will be making forward-looking statements. Please also note that we are discussing non-IFRS financial measures. Those measures are explained and reconciled to the most comparable measures reported under IFRS and also in our filings with SEC and Hong Kong Stock Exchange.

Unless otherwise stated, all figures are in RMB. We have already prepared a slide deck for financial and operating highlights for today’s call. If you are joining through Zoom, you will see the slide now. You can also refer to our IR website after the call.

Now let me just turn the call to Mr. Jack Ye.

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Games Workshop admits 561 shares under employee scheme

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Games Workshop admits 561 shares under employee scheme

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Chile central bank lowers 2026 GDP growth forecast to 1%-1.75%

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Chile central bank lowers 2026 GDP growth forecast to 1%-1.75%

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ClearBridge Appreciation Fund Q1 2026 Commentary

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Diamond Hill Securitized Total Return Fund Q1 2026 Commentary (DHWIX)

ClearBridge Appreciation Fund Q1 2026 Commentary

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Sweet Loren’s debuts breakfast products

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Sweet Loren’s debuts breakfast products

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SSR Mining’s Repricing Still Looks Far From Done (NASDAQ:SSRM)

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SSR Mining's Repricing Still Looks Far From Done (NASDAQ:SSRM)

This article was written by

Daniel Sereda is chief investment analyst at a family office whose investments span continents and diverse asset classes. This requires him to navigate through a plethora of information on a daily basis. His expertise is in filtering this wealth of data to extract the most critical ideas.
He runs the investing group Beyond the Wall Investing in which he provides access to the same information that institutional market participants prioritize in their analysis. Learn more.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in SSRM over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Jaylen Brown Trade Rumors Heat Up as Celtics Weigh Roster Changes Ahead of 2026-27 Season

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Kevin Durant

Trade speculation surrounding Boston Celtics star Jaylen Brown has intensified in recent weeks, with the two-time All-Star’s name frequently mentioned in discussions as the franchise evaluates options to maintain contention following a challenging stretch and amid broader roster considerations.

The Celtics, coming off a period of roster evaluation after falling short of expectations in recent playoffs, face decisions on long-term construction around Jayson Tatum. Brown’s expiring contract and high salary have made him a focal point in hypothetical deals, particularly as teams explore ways to pair elite talent with championship-caliber supporting casts. While no deal is imminent, the rumors reflect the fluid nature of NBA offseason planning and the Celtics’ willingness to explore bold moves to address defensive and depth needs.

Boston’s front office has reportedly engaged in preliminary discussions involving Brown, with league sources indicating interest from several contending teams seeking perimeter scoring and defensive versatility. The 29-year-old forward’s championship experience from the 2024 title run adds value, though his recent contract extension and injury history require careful evaluation by potential suitors.

Potential Destinations and Trade Frameworks

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Multiple reports have linked Brown to teams like the Golden State Warriors in scenarios involving star players, though such deals remain highly speculative. The Warriors, rebuilding around Stephen Curry, could view Brown as a long-term piece to complement their veteran core, but salary matching and asset considerations complicate any framework.

Other Eastern Conference contenders have also been mentioned, with teams seeking to upgrade wing depth eyeing Brown’s two-way capabilities. However, the Celtics’ reluctance to part with a key piece of their championship puzzle unless the return significantly improves roster balance has limited concrete progress on potential deals.

Gary Washburn of The Boston Globe addressed the rumors during a recent appearance. “I don’t think Giannis is going to be a Celtic. … But I do think the Celtics are gauging what it would take to get Giannis to Boston and trying to figure out whether they want to move Jaylen Brown,” Washburn said. “And if there’s rumors that Jaylen is being moved and he hears that all summer, what kind of mentality will he have coming into next season, which is critical for this franchise.”

The comments highlight concerns about player morale and team chemistry if trade speculation persists. Brown has expressed commitment to Boston in the past, but the business realities of professional sports often lead to roster adjustments even for established stars.

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Celtics’ Strategic Outlook

Boston’s front office faces a delicate balancing act. The team achieved significant success with the Tatum-Brown duo but has encountered challenges maintaining depth and addressing defensive inconsistencies. Trading Brown would represent a major philosophical shift, potentially signaling a rebuild or retooling around Tatum and younger talent.

President of basketball operations Brad Stevens has historically prioritized contention windows, making any move involving Brown dependent on acquiring high-impact players or significant future assets. The Celtics’ strong financial position allows flexibility, but luxury tax implications and roster fit remain primary considerations.

Recent draft picks and young contributors provide additional options, potentially allowing the team to retain Brown while addressing needs through targeted additions. However, persistent rumors suggest internal discussions about long-term construction continue as free agency and the draft approach.

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Brown’s Value and Career Context

Brown has established himself as one of the league’s premier two-way wings, combining scoring ability with strong perimeter defense. His contributions during Boston’s championship run demonstrated clutch performance and leadership qualities that would appeal to contending teams seeking immediate impact.

Contract details, including the remaining years and salary, make Brown an attractive but expensive asset. Teams acquiring him would need to manage cap space carefully while integrating his skill set into existing systems. Brown’s professionalism and work ethic have earned respect across the league, factors that could ease transition to a new franchise if a deal materializes.

Broader NBA Offseason Landscape

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The Brown rumors occur amid a busy NBA offseason featuring several high-profile storylines, including Giannis Antetokounmpo trade speculation. Teams are positioning themselves for roster upgrades ahead of the draft and free agency, with wing players like Brown representing valuable currency in potential blockbuster deals.

The Celtics’ situation reflects wider league trends where championship windows require continuous evaluation and occasional difficult decisions. Successful franchises balance loyalty to core players with strategic adaptability to remain competitive in an increasingly parity-driven environment.

Analysts expect continued movement as teams finalize draft strategies and explore trade opportunities. Brown’s name will likely remain prominent in discussions until the Celtics clarify their intentions or the rumors dissipate through other roster moves.

Fan and Industry Reactions

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Celtics fans have expressed mixed emotions regarding the rumors, with many hoping Brown remains in Boston while acknowledging the need for roster evolution. Social media discussions highlight appreciation for Brown’s contributions alongside debate over potential trade returns.

League insiders view Brown as a high-value asset whose availability could trigger significant market activity. His combination of youth, contract status and proven playoff performance makes him an attractive target for teams seeking immediate contention boosts.

As the offseason progresses, the Celtics’ handling of the situation will be closely watched. A decision to retain Brown would signal confidence in the current core, while exploring trades could indicate a willingness to reshape the roster for future success.

What Lies Ahead

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The coming weeks will provide clarity as the draft and free agency intensify. Boston’s front office must weigh short-term competitiveness against long-term flexibility, with Brown’s future central to those calculations. Whether he remains a Celtic or finds a new home, his impact on the league and any team he joins will be significant.

For now, the rumors serve as a reminder of the NBA’s dynamic nature, where even established stars can become trade candidates as organizations pursue championship opportunities. Jaylen Brown’s situation exemplifies the complex decisions facing modern NBA franchises as they balance talent retention with strategic evolution in pursuit of sustained success.

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Will Lebron Join Stephen Curry’s Warriors?

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Kevin Durant

Speculation surrounding LeBron James’ future with the Los Angeles Lakers has intensified in recent weeks, with the 41-year-old superstar’s name linked to several contending teams as the franchise evaluates roster construction ahead of the 2026-27 NBA season.

James, entering the final year of his current contract, remains one of the league’s most impactful players despite his age. His combination of scoring, playmaking and leadership continues to make him a desirable target for teams seeking immediate contention boosts. While no formal trade requests have been reported, persistent rumors reflect the Lakers’ need to balance James’ championship aspirations with long-term roster sustainability.

The Golden State Warriors have emerged as a frequently mentioned destination in hypothetical scenarios. Pairing James with Stephen Curry would create an unprecedented offensive duo, blending James’ all-around brilliance with Curry’s shooting gravity. Such a move would require significant salary matching and asset considerations, but the potential on-court synergy has fueled ongoing discussion among analysts and fans.

Other teams, including the Miami Heat, have also been connected to James in various reports. Miami’s culture of player empowerment and contention focus aligns with James’ preferences, though the Heat’s current roster construction would necessitate creative trade frameworks. James’ history with the franchise adds emotional weight to any potential reunion scenario.

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The Lakers’ perspective remains central to the conversation. The organization has built its recent strategy around James and Anthony Davis, achieving deep playoff runs while managing salary cap constraints. However, inconsistent supporting casts and injury challenges have limited championship opportunities in recent seasons. Front office decisions regarding James’ future will significantly influence the team’s direction for the next several years.

James’ Career Context and Current Situation

James has spent the majority of his career chasing and achieving greatness, with four NBA championships across three franchises. His longevity and sustained excellence have set new standards for player durability and impact. At 41, he continues producing All-Star level performances, though load management and strategic rest have become more prominent aspects of his routine.

The Lakers’ recent seasons have featured flashes of contention interspersed with injury setbacks and roster instability. James has publicly emphasized his desire to compete for titles while remaining committed to the franchise that brought him back in 2018. His player option for the 2026-27 season provides flexibility, though trade possibilities add complexity to the situation.

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League sources indicate James maintains strong relationships with Lakers management, but the business realities of professional sports often lead to difficult roster decisions. The team’s ability to surround James and Davis with complementary talent will be critical for future success.

Potential Trade Frameworks and Challenges

Any trade involving James would represent a seismic shift for the Lakers and the broader NBA landscape. Salary matching requirements, asset compensation and James’ approval would all factor into potential deals. Teams acquiring him would gain instant championship pedigree but face significant luxury tax implications and roster adjustments.

The Warriors’ interest, if pursued, would center on creating a superteam capable of challenging Western Conference powers. Curry’s off-ball movement paired with James’ playmaking could generate unmatched offensive efficiency. However, defensive considerations and long-term roster building would require careful planning from Golden State’s front office.

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Miami’s potential pursuit reflects the franchise’s history of bold moves and player-centric culture. James’ previous success in South Beach adds intrigue, though current roster construction and financial flexibility would influence feasibility.

Other contenders monitoring the situation include teams with cap space or attractive young assets. The Eastern Conference could see significant realignment if James relocates, potentially shifting competitive balance across the league.

Lakers’ Strategic Considerations

Los Angeles faces a critical offseason. Retaining James provides continuity and star power, but the team must address depth and defensive needs to maximize championship chances. Trading James could yield significant assets for a rebuild or retooling around Davis, though such a move would mark the end of an era for the franchise.

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The Lakers’ front office has demonstrated willingness to make difficult decisions in pursuit of sustained contention. Recent draft picks and young contributors offer building blocks, but immediate competitiveness remains a priority given James’ timeline.

Financial flexibility under the collective bargaining agreement will influence options. The team’s luxury tax position requires strategic cap management, potentially limiting big-name additions without corresponding outgoing salary.

Broader NBA Offseason Landscape

The James rumors occur amid a busy league offseason featuring multiple high-profile storylines. Teams are positioning for the draft and free agency, with veteran movement expected to reshape several rosters. The Western Conference remains particularly competitive, with multiple teams possessing championship aspirations.

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James’ situation exemplifies the challenges facing aging superstars and their organizations. Balancing immediate contention with long-term sustainability requires careful planning and sometimes difficult choices. Other franchises face similar dilemmas as star players enter later career stages.

Analysts expect continued movement as teams finalize strategies. James’ name will likely remain prominent in discussions until clarity emerges regarding his Lakers future or potential destinations.

Fan and Industry Reactions

Celtics fans and league observers have engaged heavily with the rumors, with social media platforms buzzing over potential landing spots. Many Lakers supporters express hope James remains in Los Angeles, while acknowledging the need for roster evolution to support championship goals.

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Industry insiders view James as a transformative talent whose availability would trigger significant market activity. His championship experience and leadership qualities make him an attractive target for teams seeking veteran guidance alongside star power.

What Lies Ahead

The coming weeks will provide clarity as the draft and free agency intensify. The Lakers must weigh short-term competitiveness against long-term flexibility, with James’ future central to those calculations. Whether he remains with the Lakers or explores new opportunities, his impact on any franchise will be substantial.

For James personally, the situation represents another chapter in a career defined by excellence and adaptability. His focus on winning championships while maximizing his remaining playing years continues guiding decision-making.

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The NBA offseason promises significant developments that could reshape multiple franchises. LeBron James’ situation exemplifies the complex dynamics of player movement, organizational planning and competitive balance in professional basketball. As rumors persist, all eyes remain on one of the league’s most influential figures and the decisions that will shape his legacy’s next phase.

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