MINISO Reports Strong FY2025 Revenue & Adjusted Profit, But Reported Profit Down 50% on Investment Loss

summarizeSummary

MINISO Group Holding Ltd. announced preliminary FY2025 results with strong revenue growth of 26% and robust adjusted profits, but reported profit for the year is expected to decline by approximately 50% due to non-operating factors including a significant investment loss. The company also reported positive business momentum for early 2026 and continued its routine share repurchase program.

check_boxKey Events

• Preliminary FY2025 Financial Performance Announced

  The company expects to record revenue of approximately RMB21,440 million to RMB21,445 million for FY2025, an increase of approximately 26% year over year. Adjusted operating profit is estimated at RMB3,665 million to RMB3,675 million, and adjusted net profit at RMB2,890 million to RMB2,900 million.

• Reported Profit for Year Expected to Decline Significantly

  Profit for the year is projected to be approximately RMB1,320 million to RMB1,330 million for FY2025, a decline of about 50% compared to RMB2,635 million in FY2024. This is primarily due to an estimated RMB740 million share of loss from investment in Yonghui Superstores, along with share-based payment expenses, redemption liabilities, and interest expenses.

• Positive Business Momentum in Early 2026

  For the first two months of 2026, MINISO brand GMV in Chinese mainland grew over 25% year over year, with same-store GMV recording at least high-single-digit growth. In North America, MINISO brand GMV grew more than 50% year over year, with same-store GMV increasing by at least 20%.

• Ongoing Share Repurchase Program

  The company reported routine share repurchases totaling approximately $947,170 across the NYSE and Hong Kong Stock Exchange between March 11 and March 13, 2026, as part of its existing buyback mandate.

auto_awesomeAnalysis

This filing presents a mixed financial picture for MINISO Group Holding Ltd. While the company achieved robust revenue growth of approximately 26% and strong adjusted operating and net profits for fiscal year 2025, its reported profit for the year is expected to decline significantly by about 50% compared to the previous year. This decline is primarily attributed to a substantial share of loss from its investment in Yonghui Superstores, along with equity-settled share-based payment expenses, losses from redemption liabilities, and interest expenses. Investors will need to weigh the strong underlying operational performance and positive early 2026 business momentum against the significant reported profit reduction driven by these specific items. The ongoing share repurchase program, while small in scale, indicates management's confidence. The upcoming board meeting on March 31, 2026, will finalize these results and may include a dividend declaration.