MINISO Reports Strong Q4 & FY2025 Revenue Growth, Declares Significant Dividend, Despite IFRS Loss from Investments

summarizeSummary

MINISO Group reported strong Q4 and full-year 2025 revenue and adjusted profit growth, declared a significant dividend, and continued share repurchases, though IFRS net profit was affected by non-operating losses.

check_boxKey Events

• Strong Revenue Growth

  Q4 2025 revenue increased 32.7% year-over-year to RMB6.25 billion (US$894.3 million), exceeding the company's guidance. Full-year 2025 revenue grew 26.2% year-over-year to RMB21.44 billion (US$3.07 billion).

• Adjusted Profit Growth

  Q4 2025 adjusted net profit increased 7.6% year-over-year to RMB852.7 million (US$121.9 million). Full-year 2025 adjusted net profit grew 6.5% to RMB2.90 billion (US$414.4 million).

• IFRS Net Loss/Decline Due to Non-Operating Items

  The company reported an IFRS net loss of RMB139.4 million (US$19.9 million) for Q4 2025, and full-year 2025 IFRS net profit declined significantly to RMB1.21 billion (US$173.0 million). This was primarily driven by a RMB812.7 million loss from the investment in Yonghui Superstores and other non-cash expenses.

• Significant Dividend Declared

  The Board approved a final cash dividend of US$0.3764 per ADS (US$0.0941 per ordinary share), totaling approximately US$115.8 million (RMB809.7 million). This represents about 50% of the adjusted net profit generated in the second half of 2025.

auto_awesomeAnalysis

MINISO Group delivered robust operational performance in Q4 and full year 2025, with revenue exceeding guidance and adjusted net profit showing solid growth. The company also announced a substantial final cash dividend and continued its share repurchase program, demonstrating a strong commitment to shareholder returns. However, the reported IFRS net profit was significantly impacted by non-operating items, primarily a substantial loss from its investment in Yonghui Superstores and other non-cash expenses. Investors should focus on the adjusted financial metrics and capital allocation strategy, while noting the impact of strategic investments on IFRS profitability.