【MINISO】MINISO's Adjusted Net Profit Grew Over 6% Last Year, but Listed Profit May Fall Nearly 50% Due to Three Factors

SocialAnxietyStaker · 2026-03-15T14:19:39+00:00

MINISO has released a profit warning, predicting that 2025 profit will decline by approximately 49.5%-49.9%, primarily due to investment losses and interest expenses. Despite this, adjusted net profit last year is expected to grow by approximately 6.2%-6.6%. In the first two months of this year, sales in both mainland China and the United States showed growth.

SocialAnxietyStaker

2026-03-15 14:19:39

Abstract generation in progress

MINISO (09896)
Issues profit forecast, expecting a profit of approximately RMB 1.32 billion to RMB 1.33 billion for 2025, a decrease of 49.5% to 49.9% year-on-year. The main reasons include the investment in Yonghui Superstores resulting in a loss, share awards issued to TOP TOY management and employees, changes in the redemption liability due to the issuance of preferred shares by TOP TOY, and interest expenses on stock-linked securities. MINISO estimates that its adjusted net profit for last year was about RMB 2.89 billion to RMB 2.9 billion, an increase of approximately 6.2% to 6.6% year-on-year.

MINISO states that last year’s revenue was approximately RMB 21.44 billion to RMB 21.445 billion, a year-on-year increase of about 26%. Operating profit was about RMB 3.3 billion to RMB 3.305 billion, and adjusted operating profit was about RMB 3.665 billion to RMB 3.675 billion. The increase is mainly due to a continuously enriched product portfolio, enhanced brand awareness, and ongoing expansion and optimization of sales channels.

In the first two months of this year, MINISO’s Mainland China GMV increased by over 25%, and in the U.S., over 50%

Additionally, MINISO indicates that based on the preliminary review of sales data for the first two months of this year, the company continues to demonstrate positive business momentum. In Mainland China, MINISO’s GMV grew by over 25% year-on-year, with same-store GMV recording at least double-digit growth. In North America, MINISO’s GMV in the U.S. increased by over 50% year-on-year, with same-store GMV growing by at least 20%.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.