Miniso Q4 Results: Overseas Growth Continues to Impress, Rating Upgrade.

Miniso Group Holding Limited's Q4 earnings beat expectations, driven by strong overseas growth. The company's international business accounted for a significant portion of its revenue, with a notable increase in sales in Europe and North America. The strong performance led to an upgrade in the company's rating.

Miniso Group Holding Limited (NYSE: MNSO) reported its Q4 2025 earnings on Thursday, August 21st, before market open, with results that exceeded analyst expectations. The company's international business accounted for a significant portion of its revenue, with notable increases in sales in Europe and North America. This strong performance led to an upgrade in the company's rating.

The consensus EPS estimate was $0.24, with a year-over-year decrease of 20.0%, while the revenue estimate was $677.28M, an increase of 25.2% year over year. Over the past two years, MNSO has consistently beaten EPS and revenue estimates by 88% of the time [1]. This quarter, the company's earnings per share (EPS) and revenue growth were driven by robust international performance.

The company's same-store GMV (SSSG) growth turned positive in the June quarter, with a low-single digit growth rate year over year. This trend continued into the September quarter, further accelerating the growth in MINISO mainland China. The strong execution in the competitive domestic market underscores the resilience of the company's business model [2].

In the overseas markets, MINISO's SSSG growth was also notable, particularly in Europe and North America. The company's international expansion strategy, which includes directly operated businesses and partnerships, has proven successful in driving sales and margin optimization. This growth momentum is expected to continue in the second half of 2025.

The company's gross margin remained strong at 44.3%, while adjusted EBITDA margin was 23.1%, indicating a healthy financial position. The company's cash position also improved, with a cash position of RMB7,466.1 million as of June 30, 2025, compared to RMB6,698.1 million as of December 31, 2024 [2].

The board of directors approved an interim cash dividend of US$0.2896 per ADS for the first half of 2025, with a total amount of approximately RMB639.5 million. This represents a return to shareholders of about 84% of adjusted net profit, compared to about 55% in the same period last year [2].

In conclusion, Miniso Group Holding Limited's Q4 earnings report highlights the company's strong performance, driven by robust international growth. The company's continued expansion and strategic investments in directly operated businesses and overseas markets position it for sustainable and high-quality growth in the coming quarters.

References:
[1] https://seekingalpha.com/news/4487529-miniso-group-holding-q4-2025-earnings-preview
[2] https://www.prnewswire.com/news-releases/miniso-group-announces-2025-june-quarter-and-interim-unaudited-financial-results-302535619.html