MINISO Group Holding Ltd. (9896) AI Stock Analysis

• Market Cap: HK$51.16B
• Dividend Yield: 3.16%
• Average Volume (3M): 4.75M
• Price to Earnings (P/E): 20.1
• Beta (1Y): 1.04
• Revenue Growth: 13.14%
• EPS Growth: -19.58%
• Country: HK
• Employees: 7,003
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Specialty Retail
• EPS (TTM): 0.39
• Shares Outstanding: 1,237,564,200
• 10 Day Avg. Volume: 6,012,731
• 30 Day Avg. Volume: 4,751,711
• PEG Ratio: -4.22
• Price to Book (P/B): 5.31
• Price to Sales (P/S): 3.22
• P/FCF Ratio: 38.96
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$52.69
• Price Target Upside: 41.26% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 12
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 64 Neutral
• Price Target: HK$42.00 ▲(12.60% Upside)

MINISO Group Holding Ltd. scores well on financial performance, reflecting strong profitability and cash flow. However, technical analysis indicates bearish momentum, which weighs down the overall score. The valuation is reasonable, with a fair P/E ratio and a solid dividend yield. The absence of earnings call data and corporate events means these factors do not impact the score.

Positive Factors

Revenue Growth

MINISO's significant revenue growth reflects its successful market expansion and product appeal, supporting long-term business sustainability.

Cash Flow Strength

Strong cash flow growth enhances MINISO's ability to reinvest in operations and manage obligations, ensuring financial stability and growth potential.

Profitability

Improving profit margins indicate efficient operations and pricing power, which are critical for sustaining long-term profitability and competitiveness.

Negative Factors

Rising Debt Levels

Rising debt levels could strain financial flexibility, posing risks to future cash flows and limiting strategic investments if not managed carefully.

EPS Decline

A decline in EPS growth indicates potential challenges in maintaining profitability, which could affect investor confidence and future earnings potential.

Management Challenges

The absence of earnings call data may indicate communication gaps with investors, potentially affecting transparency and stakeholder trust in management.

MINISO Group Holding Ltd. Business Overview & Revenue Model

Company Description

MINISO Group Holding Limited, an investment holding company, engages in the retail and wholesale of lifestyle products and pop toy products in China, rest of Asia, the Americas, Europe, Indonesia, and internationally. The company offers products in various categories, including home decor products, small electronics, textiles, accessories, beauty tools, toys, cosmetics, personal care products, snacks, fragrances and perfumes, and stationeries and gifts under the MINISO brand; and blind boxes, toy bricks, model figures, model kits, collectible dolls, Ichiban Kuji, and other popular toys under the TOP TOY brand. It also engages in the brand licensing activity. The company also operates characters themed store in Vietnam. The company was founded in 2013 and is based in Guangzhou, China.

How the Company Makes Money

MINISO generates revenue primarily through the sale of its products in physical stores and online platforms. The company employs a franchise model, allowing it to expand rapidly by partnering with local franchisees who operate stores under the MINISO brand. Key revenue streams include direct sales of merchandise, franchise fees, and royalties from franchise operations. Additionally, MINISO benefits from strategic partnerships with suppliers and manufacturers, which help to maintain low costs and a diverse product range. Seasonal promotions and limited-time offers also play a role in driving sales, contributing to the company's overall earnings.

MINISO Group Holding Ltd. Financial Statement Overview

Summary

MINISO Group Holding Ltd. presents a strong financial profile characterized by solid profitability, efficient operations, and robust cash flows. The company shows consistent revenue growth and healthy margins. However, rising debt levels require monitoring.

Income Statement

MINISO Group Holding Ltd. has demonstrated strong profitability with a consistent increase in gross profit margin and net profit margin over the past few years. The company's EBIT and EBITDA margins are healthy, indicating efficient operations. The revenue growth rate shows a steady upward trend, reflecting sound business expansion.

Balance Sheet

The balance sheet reveals a robust equity position with a favorable equity ratio. The debt-to-equity ratio remains low, suggesting conservative financial leverage. Return on equity has improved significantly, pointing to effective use of shareholders' funds. However, the increase in total debt over the years needs monitoring.

Cash Flow

The cash flow statement shows strong free cash flow growth, supporting the company's ability to reinvest in its operations and manage financial obligations. Operating cash flow relative to net income is high, indicating effective cash conversion. The free cash flow to net income ratio underscores the company's solid cash generation capabilities.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	18.63B	16.99B	15.27B	11.47B	10.09B	9.07B
Gross Profit	8.40B	7.64B	6.49B	4.44B	3.07B	2.43B
EBITDA	3.26B	4.29B	3.93B	2.43B	1.02B	-922.81M
Net Income	2.35B	2.62B	2.50B	1.77B	638.17M	-1.42B
Balance Sheet
Total Assets	26.65B	18.12B	15.95B	13.45B	11.28B	10.71B
Cash, Cash Equivalents and Short-Term Investments	7.46B	6.70B	7.58B	7.28B	5.80B	6.87B
Total Debt	10.36B	3.11B	1.38B	892.95M	658.01M	825.01M
Total Liabilities	15.75B	7.76B	5.83B	4.53B	4.25B	4.05B
Stockholders Equity	10.85B	10.31B	10.09B	8.90B	7.03B	6.66B
Cash Flow
Free Cash Flow	0.00	1.41B	1.05B	1.49B	172.06M	736.04M
Operating Cash Flow	0.00	2.17B	1.34B	1.67B	1.41B	916.32M
Investing Cash Flow	0.00	-533.25M	44.82M	-293.41M	-2.13B	-518.80M
Financing Cash Flow	0.00	-1.72B	-1.46B	-325.96M	-733.56M	3.54B

MINISO Group Holding Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 37.30
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9896, the sentiment is Negative. The current price of 37.3 is below the 20-day moving average (MA) of 39.10, below the 50-day MA of 41.30, and below the 200-day MA of 38.82, indicating a bearish trend. The MACD of -1.16 indicates Negative momentum. The RSI at 40.23 is Neutral, neither overbought nor oversold. The STOCH value of 33.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:9896.

MINISO Group Holding Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2420	74 Outperform	HK$1.63B	8.89	27.30%	3.88%	23.59%	―
9896	64 Neutral	HK$51.16B	20.11	20.87%	3.16%	13.14%	-19.58%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
2209	61 Neutral	HK$1.89B	10.75	41.54%	1.74%	55.02%	25.22%
0178	56 Neutral	HK$1.92B	25.00	8.44%	4.75%	-3.18%	-36.46%
2411	46 Neutral	HK$3.83B	-3.55	-29.04%	0.38%	-15.49%	-544.89%

MINISO Group Holding Ltd. Corporate Events

MINISO Announces Unaudited Financial Results for Q3 and Nine Months of 2025

MINISO Group Holding Ltd. announced its unaudited financial results for the three and nine months ended September 30, 2025. The announcement, issued in compliance with relevant regulations, highlights the company’s financial performance, which may contain material inside information. Stakeholders are advised to exercise caution when dealing with the company’s securities, as the results are unaudited and forward-looking statements are included.

The most recent analyst rating on (HK:9896) stock is a Buy with a HK$49.00 price target. To see the full list of analyst forecasts on MINISO Group Holding Ltd. stock, see the HK:9896 Stock Forecast page.

MINISO Group Schedules Board Meeting and Earnings Call for Q3 Results

MINISO Group Holding Limited has announced a board meeting scheduled for November 21, 2025, to review and approve the company’s unaudited financial results for the quarter ending September 30, 2025. The company will hold an earnings conference call on the same day to discuss these financial results, providing simultaneous English interpretation and multiple access methods for stakeholders, including a Zoom link, international dial-in numbers, and access through the company’s investor relations website.

The most recent analyst rating on (HK:9896) stock is a Buy with a HK$49.00 price target. To see the full list of analyst forecasts on MINISO Group Holding Ltd. stock, see the HK:9896 Stock Forecast page.

MINISO Announces Proposed Spin-Off of TOP TOY for Separate Listing

MINISO Group Holding Ltd. has announced its intention to spin off its subsidiary, TOP TOY International Group Limited, by listing it separately on the Main Board of the Hong Kong Stock Exchange. This move, subject to regulatory approvals and market conditions, aims to enhance the subsidiary’s market presence and operational focus while maintaining it as a subsidiary of MINISO.

The most recent analyst rating on (HK:9896) stock is a Buy with a HK$56.00 price target. To see the full list of analyst forecasts on MINISO Group Holding Ltd. stock, see the HK:9896 Stock Forecast page.

MINISO Announces Adjustments to Equity-Linked Securities Following Dividend Declaration

MINISO Group Holding Ltd. has announced adjustments to the exercise price of its equity-linked securities and call spread due to the declaration of an interim cash dividend for the first half of 2025. These adjustments, effective from late August and early September 2025, involve changes to the exercise prices and the number of shares that can be settled or issued, reflecting the company’s strategic financial maneuvers to align with market conditions and shareholder interests.

The most recent analyst rating on (HK:9896) stock is a Buy with a HK$52.00 price target. To see the full list of analyst forecasts on MINISO Group Holding Ltd. stock, see the HK:9896 Stock Forecast page.