MINISO Pre-Announces H1 2026: Revenue Up 22-23%, But Adjusted Net Profit Declines 1-3%
MNSO is trading near its 52-week low of $11.12 (1.1% below the low).
Summary
MINISO pre-announced H1 2026 results: revenue up 22-23% to RMB11.45-11.55B, but adjusted net profit fell 1-3% due to higher costs and FX losses, with profit growth driven by non-operating gains.
Key Events · Earnings and Guidance · MNSO
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Preliminary H1 2026 Results
Revenue of RMB11,450-11,550M (+22-23% YoY), operating profit RMB1,620-1,660M (+5-7% YoY), profit for the period RMB940-960M (+4-6% YoY), and basic EPS RMB0.78-0.79 (+5-7% YoY).
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Core Profitability Declines
Adjusted net profit excluding FX and other items fell 1-3% YoY to RMB1,210-1,230M, driven by higher selling and distribution expenses, a RMB142M net FX loss, and higher finance costs.
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Non-Operating Gains Mask Weakness
Profit growth was supported by a RMB277M unrealized mark-to-market gain on an AI investment and RMB60M equity pickup from Yonghui, offset by losses from equity-linked securities and TOP TOY preferred shares.
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Earnings Date Set
Full results and earnings call scheduled for August 28, 2026, before U.S. market open.
Analysis · MNSO · Trade & Services
MINISO disclosed preliminary H1 2026 results showing strong top-line growth of 22-23% to RMB11.45-11.55 billion, but adjusted net profit excluding one-time items declined 1-3% year-over-year. The headline profit growth was driven by a RMB277 million unrealized mark-to-market gain on an AI investment and RMB60 million equity pickup from Yonghui, masking higher selling expenses, a RMB142 million FX loss, and losses from equity-linked securities and TOP TOY preferred shares. The stock trades near its 52-week low, and this mixed result—strong revenue but deteriorating core profitability—could pressure shares further. Full results and the earnings call are set for August 28, 2026.
At the time of this filing, MNSO was trading at $11.00 on NYSE in the Trade & Services sector, with a market capitalization of approximately $3.7B. The 52-week trading range was $11.12 to $26.74. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.