Miniso Group Holding Ltd. · HKEX:9896
Miniso — Q2 2026 Earnings Presentation
29 slides from Miniso's earnings presentation, Aug 28, 2026
Slide 1: MINISO Group Holding Limited – Unaudited Quarter and Interim Financial Results
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in relia
Slide 2: Forward-looking statements
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “ anticipate, ” “
Slide 3: MINISO Group Announces 2026 June Quarter and Interim Unaudited Financial Results
SCHEDULE I MINISO Group Announces 2026 June Quarter and Interim Unaudited Financial Results Group Revenue Grew by 22.4% YoY in 26H1 MINISO Chinese Mainland Delivered 26.2% YoY Growth, the Highest First-half Growth Rate in Three Years, Powered by Mid-single Digit SSSG (1) MINISO North America Deliver
Slide 4: Store Network Expansion
Store Network Expansion As of June 30, 2026, the Company’s total store count reached 8,674, representing a net increase of 769 YoY and 189 YTD(4). • MINISO Brand: totaled 8,309 stores (up 697 YoY and 158 YTD(4)), driven by: • Chinese Mainland: 4,665 stores (up 360 YoY and 97 YTD(4)). • Overseas Mark
Slide 5: Management commentary from Founder, Chairman and CEO
Mr. Guofu Ye, Founder, Chairman and CEO of MINISO, commented, “Despite a challenging consumer environment in the domestic market during 26H1, we are pleased to see that MINISO Chinese mainland delivered a standout performance, with revenue growing 26.2% YoY, our fastest first-half growth rate in the
Slide 6: Financial Results for 26H1
Financial Results for 26H1 Revenue was RMB11,498.9 million (US$1,694.7 million), representing an increase of 22.4% YoY. Revenue from MINISO brand increased by 21.6% YoY to RMB10,513.2 million (US$1,549.5 million), mainly driven by (i) an increase of 26.2% in revenue from Chinese mainland, powered by
Slide 7: General and administrative expenses and other net income
General and administrative expenses were RMB590.9 million (US$87.1 million), representing an increase of 17.3% YoY. Excluding SBC expenses, general and administrative expenses were RMB550.8 million (US$81.2 million), representing an increase of 15.5% YoY. The YoY increase was primarily due to the in
Slide 8: Redemption liabilities, other expenses and effective tax rate
Changes in fair value of redemption liabilities were RMB47.4 million (US$7.0 million), which was a non-cash loss arising from preferred shares issued by TOP TOY in connection with its strategic financing in 2025 and has been excluded in non-IFRS financial measures(2). Other expenses were RMB141.3 mi
Slide 9: Adjusted EPS, cash position and Financial Results for 26Q2
Adjusted basic and diluted earnings per ADS(2) were both RMB3.56 (US$0.52), compared to both RMB4.16 in the same period last year. Cash position(6), which was the combined balance of the Company’s cash and cash equivalents, restricted cash, term deposits and other investments recorded as current ass
Slide 10: 26Q2 operating profit and margin
Operating profit was RMB118.5 million (US$17.5 million), compared with RMB836.2 million in the same period last year. The decrease in operating profit was mainly due to (i) an unrealized mark-to-market loss of RMB597.2 million (US$88.0 million) from fair value changes of an investment in a limited p
Slide 11: 26Q2 net margin, adjusted net profit and EBITDA
Net loss margin was 5.0%, compared with a net profit margin of 9.9% in the same period last year. Adjusted net profit(2) was RMB528.6 million (US$77.9 million), compared to RMB692.3 million in the same period last year. If excluding FX(3), it would have been RMB588.4 million (US$86.7 million), compa
Slide 12: Conference Call
Conference Call The Company’s management will hold an earnings conference call at 5:00 A.M. Eastern Time on Friday, August 28, 2026 (5:00 P.M. Beijing Time on the same day) to discuss the financial results. Simultaneous interpretation in English will be provided during the conference call. The confe
Slide 13: About MINISO Group
About MINISO Group MINISO Group is a global high-growth value retailer offering a variety of trendy lifestyle products featuring distinctive IP designs. Since opening our first store in Chinese mainland in 2013, the Company has successfully built two brands – “MINISO” and “TOP TOY”. The Company ’ s
Slide 14: Non-IFRS Financial Measures
Non-IFRS Financial Measures In evaluating the business, MINISO considers and uses adjusted operating profit, adjusted operating margin, adjusted effective tax rate, adjusted net profit, adjusted net margin, adjusted EBITDA, adjusted EBITDA margin, adjusted basic and diluted net earnings per share an
Slide 15: Non-IFRS measures usage and limitations
MINISO presents these non-IFRS financial measures because they are used by the management to evaluate its core business performance and formulate business plans. These non-IFRS financial measures enable the management to assess its core business results without considering the impacts of the aforeme
Slide 16: Safe Harbor Statement
Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as “may”, “will”, “expec
Slide 17: Unaudited Condensed Consolidated Statements of Financial Position
MINISO GROUP HOLDING LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Expressed in thousands) As at As at December 31, 2025 June 30, 2026 (Audited) (Unaudited) RMB ’000 RMB ’000 US$ ’000 ASSETS Non-current assets Property, plant and equipment 2,109,385 2,583,756 380,799 Rig
Slide 18: Statements of Financial Position (Continued)
MINISO GROUP HOLDING LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (CONTINUED) (Expressed in thousands) As at As at December 31, 2025 June 30, 2026 (Audited) (Unaudited) RMB ’000 RMB ’000 US$ ’000 EQUITY Share capital 94 94 14 Additional paid-in capital 2,887,905 2,080,16
Slide 19: Statements of Financial Position (Continued)
MINISO GROUP HOLDING LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (CONTINUED) (Expressed in thousands) As at As at December 31, 2025 June 30, 2026 (Audited) (Unaudited) RMB ’000 RMB ’000 US$ ’000 Current liabilities Contract liabilities 388,746 427,640 63,026 Loans and b
Slide 20: Unaudited Condensed Consolidated Statements of Profit or Loss
MINISO GROUP HOLDING LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (Expressed in thousands, except for per ordinary share and per ADS data) Three months ended June 30, Six months ended June 30, 2025 2026 2025 2026 (Unaudited) (Unaudited) (Unaudi
Slide 21: Statements of Profit or Loss (Continued)
MINISO GROUP HOLDING LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (CONTINUED) (Expressed in thousands) Three months ended June 30, Six months ended June 30, 2025 2026 2025 2026 (Unaudited) (Unaudited) (Unaudited) (Unaudited) RMB ’000 RMB ’000 U
Slide 22: Reconciliation of Non-IFRS Financial Measures
MINISO GROUP HOLDING LIMITED RECONCILIATION OF NON-IFRS FINANCIAL MEASURES (Expressed in thousands, except for percentages) Three months ended June 30, Six months ended June 30, 2025 2026 2025 2026 (Unaudited) (Unaudited) (Unaudited) (Unaudited) RMB ’000 RMB ’000 US$ ’000 RMB ’000 RMB ’000 US$ ’000
Slide 23: Reconciliation of Non-IFRS Financial Measures (Continued)
MINISO GROUP HOLDING LIMITED RECONCILIATION OF NON-IFRS FINANCIAL MEASURES (CONTINUED) (Expressed in percentages) Three months ended June 30, Six months ended June 30, 2025 2026 2025 2026 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Reconciliation of effective tax rate to adjusted effective tax r
Slide 24: Reconciliation of Non-IFRS Financial Measures (Continued)
MINISO GROUP HOLDING LIMITED RECONCILIATION OF NON-IFRS FINANCIAL MEASURES (CONTINUED) (Expressed in thousands, except for per share, per ADS data and percentages) Three months ended June 30, Six months ended June 30, 2025 2026 2025 2026 (Unaudited) (Unaudited) (Unaudited) (Unaudited) RMB ’000 RMB ’
Slide 25: Reconciliation of Non-IFRS Financial Measures (Continued)
MINISO GROUP HOLDING LIMITED RECONCILIATION OF NON-IFRS FINANCIAL MEASURES (CONTINUED) (Expressed in thousands, except for percentages) Three months ended June 30, Six months ended June 30, 2025 2026 2025 2026 (Unaudited) (Unaudited) (Unaudited) (Unaudited) RMB ’000 RMB ’000 US$ ’000 RMB ’000 RMB ’0
Slide 26: Notes to reconciliation
Notes: (1) These adjustment items have been excluded from the calculation of adjusted net profit as the management of the Company does not consider such items to be indicative of its performance of core business. (2) The gain or loss from fair value change of derivatives was a non-cash gain or expen
Slide 27: Unaudited Additional Information – Revenue by brand
MINISO GROUP HOLDING LIMITED UNAUDITED ADDITIONAL INFORMATION (Expressed in thousands, except for percentages) Three months ended June 30, Six months ended June 30, 2025 2026 YoY 2025 2026 YoY RMB’000 RMB’000 US$’000 RMB’000 RMB’000 US$’000 Revenue MINISO Brand 4,563,226 5,339,823 786,993 17.0% 8,64
Slide 28: Number of MINISO Stores in Chinese Mainland
MINISO GROUP HOLDING LIMITED UNAUDITED ADDITIONAL INFORMATION NUMBER OF MINISO STORES IN CHINESE MAINLAND As of June 30, December 31, June 30, 2025 2025 2026 YoY YTD(1) By City Tiers First-tier cities 572 609 611 39 2 Second-tier cities 1,774 1,881 1,928 154 47 Third- and lower-tier cities 1,959 2,0
Slide 29: Number of MINISO Stores in Overseas Markets
MINISO GROUP HOLDING LIMITED UNAUDITED ADDITIONAL INFORMATION NUMBER OF MINISO STORES IN OVERSEAS MARKETS As of June 30, December 31, June 30, 2025 2025 2026 YoY YTD(1) By Regions Asia excluding China 1,695 1,793 1,793 98 – North America 394 461 536 142 75 Latin America 661 722 726 65 4 Europe 319 3