MINISO Group Exceeds Q2 Expectations with 23.1% Revenue Growth
ByAinvest
Saturday, Aug 23, 2025 10:30 pm ET1min read
MNSO--
The company's MINISO brand revenue grew by 20%, while TOP TOY revenue surged by 87%. Gross margin improved to 44.3%, driven by increased overseas revenue and optimization of the TOP TOY brand. MINISO Group added 30 new MINISO stores in China, 37 in the US, and 30 TOP TOY stores in Q2 [1].
MINISO Group's adjusted operating profit rose by 8.5% to 850 million yuan, with an adjusted operating margin of 17.2%. The company's cash reserves stood at 7.47 billion yuan as of June 30, and net cash flow from operating activities was 1.01 billion yuan in H1 2025. The company returned 1.07 billion yuan to shareholders through share buybacks and dividends, representing 84% of the H1 adjusted net profit [1].
Despite these impressive figures, MINISO Group faces challenges. Same-store sales growth in lower-tier cities in Mainland China lags behind higher-tier cities. Additionally, the Latin American market experienced a revenue decline in H1 due to inventory adjustments and currency fluctuations. Administrative expenses grew by 90% in H1 2025, primarily due to increased employee costs and investments in directly operated stores [1].
MINISO's strategic focus on the European market, particularly with the recent opening of its first Amsterdam flagship store, aims to introduce immersive retail experiences to younger consumers and further diversify its revenue streams. The company is scheduled to announce its Q4 earnings results on August 21st, with consensus estimates showing a 20.0% year-over-year (YoY) decline in EPS and a 25.2% YoY increase in revenue [1].
References:
[1] https://finance.yahoo.com/news/miniso-group-holding-ltd-mnso-070528215.html
MINISO Group Holding Ltd reported Q2 revenue growth of 23.1%, exceeding expectations. The company also made progress in its IP strategy and large store strategy. GMV grew by 21% and same-store sales growth was positive for the first time in four quarters.
MINISO Group Holding Ltd (NYSE:MNSO) reported a robust 23.1% increase in revenue for Q2, significantly exceeding market expectations. The company's gross margin (GMV) grew by 21%, and same-store sales saw positive growth for the first time in four quarters. This performance was driven by strong overseas expansion, particularly in the US and Mainland China.The company's MINISO brand revenue grew by 20%, while TOP TOY revenue surged by 87%. Gross margin improved to 44.3%, driven by increased overseas revenue and optimization of the TOP TOY brand. MINISO Group added 30 new MINISO stores in China, 37 in the US, and 30 TOP TOY stores in Q2 [1].
MINISO Group's adjusted operating profit rose by 8.5% to 850 million yuan, with an adjusted operating margin of 17.2%. The company's cash reserves stood at 7.47 billion yuan as of June 30, and net cash flow from operating activities was 1.01 billion yuan in H1 2025. The company returned 1.07 billion yuan to shareholders through share buybacks and dividends, representing 84% of the H1 adjusted net profit [1].
Despite these impressive figures, MINISO Group faces challenges. Same-store sales growth in lower-tier cities in Mainland China lags behind higher-tier cities. Additionally, the Latin American market experienced a revenue decline in H1 due to inventory adjustments and currency fluctuations. Administrative expenses grew by 90% in H1 2025, primarily due to increased employee costs and investments in directly operated stores [1].
MINISO's strategic focus on the European market, particularly with the recent opening of its first Amsterdam flagship store, aims to introduce immersive retail experiences to younger consumers and further diversify its revenue streams. The company is scheduled to announce its Q4 earnings results on August 21st, with consensus estimates showing a 20.0% year-over-year (YoY) decline in EPS and a 25.2% YoY increase in revenue [1].
References:
[1] https://finance.yahoo.com/news/miniso-group-holding-ltd-mnso-070528215.html
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