MINISO Q2 Swings to Loss as AI Investment Markdown and FX Hit Bottom Line
MNSO is trading near its 52-week low of $10.64 (3.2% above the low).
Summary
MINISO reported Q2 2026 revenue of RMB5.81B, up 17% YoY, but swung to a net loss of RMB291.5M from a profit of RMB489.5M a year ago. The loss was driven by a RMB597.2M unrealized mark-to-market loss on an AI investment and a RMB59.9M FX loss. Operating profit collapsed 85.8% to RMB118.5M. H1 revenue grew 22.4% to RMB11.5B, but adjusted net profit excluding FX fell 1.7% to RMB1.22B. Store count reached 8,674, up 769 YoY. The company returned RMB1.31B to shareholders in H1, exceeding adjusted net profit. This follows the pre-announcement on Aug 17 that flagged revenue growth but declining adjusted net profit; today's release confirms the profit decline and adds the Q2 loss. The stock trades near its 52-week low, and the Q2 loss plus margin compression from higher selling expenses will likely pressure shares further.
At the time of this announcement, MNSO was trading at $10.98 on NYSE in the Trade & Services sector, with a market capitalization of approximately $3.5B. The 52-week trading range was $10.64 to $25.92. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: PR Newswire.