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MINISO Group Holding (MNSO)
NYSE:MNSO
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MINISO Group Holding (MNSO) AI Stock Analysis

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MNSO

MINISO Group Holding

(NYSE:MNSO)

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Outperform 77 (OpenAI - 4o)
Rating:77Outperform
Price Target:
$30.00
▲(34.77% Upside)
MINISO Group Holding's strong financial performance and positive earnings call sentiment are the primary drivers of its stock score. Technical indicators suggest strong momentum, though caution is warranted due to overbought conditions. Valuation is reasonable but not compelling, limiting upside potential.
Positive Factors
Revenue Growth
Strong revenue growth indicates robust market demand and effective sales strategies, positioning MINISO favorably for continued expansion.
International Market Success
Significant growth in international markets enhances MINISO's global footprint and reduces reliance on domestic sales, supporting long-term stability.
Cash Flow and Shareholder Returns
Strong cash flow and substantial shareholder returns reflect financial health and management's commitment to delivering value, ensuring investor confidence.
Negative Factors
Earnings Decline
A decline in earnings per share growth suggests potential challenges in maintaining profit margins, which could impact future profitability.
Latin American Market Challenges
Challenges in Latin America, such as inventory adjustments and currency issues, may hinder regional performance and affect overall growth.
Tariff Concerns
Potential tariff impacts could increase costs and pressure margins, posing risks to profitability if not effectively managed.

MINISO Group Holding (MNSO) vs. SPDR S&P 500 ETF (SPY)

MINISO Group Holding Business Overview & Revenue Model

Company DescriptionMINISO Group Holding Limited, an investment holding company, engages in the retail and wholesale of lifestyle products in China, Asia, the Americas, and Europe. 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 and WonderLife brand names; and blind boxes, toy bricks, model figures, model kits, collectible dolls, Ichiban Kuji, sculptures, and other popular toys under the TOP TOY brand. As of June 30, 2021, it operated a network of approximately 4,749 MINISO stores, as well as online sales channels. The company was founded in 2013 and is based in Guangzhou, China.
How the Company Makes MoneyMINISO makes money through its extensive network of retail stores and online platforms across various countries. The company's revenue model is based on direct sales of its diverse product portfolio, which includes private-label goods and exclusive licensed products. Key revenue streams include physical store sales, which are bolstered by strategic locations in high-traffic areas, and e-commerce sales, driven by a robust online presence. Significant partnerships with popular brands and designers also contribute to its earnings by attracting a wide customer base. Furthermore, MINISO leverages economies of scale in its supply chain to offer competitive pricing, enhancing its market appeal and profitability.

MINISO Group Holding Earnings Call Summary

Earnings Call Date:Aug 21, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:Nov 28, 2025
Earnings Call Sentiment Positive
The earnings call presented a strong performance across most segments, especially with impressive revenue growth and strategic advancements in both domestic and international markets. Challenges were noted in specific regions like Latin America, but overall, the company's strategic initiatives and financial health were portrayed positively.
Q2-2025 Updates
Positive Updates
Strong Revenue Growth
Total revenue for Q2 reached RMB 4.97 billion, a 23.1% increase, exceeding the upper limit of the guidance. The MINISO brand grew by 20%, and TOP TOY saw an 87% growth.
Same-Store Sales Improvement
The company achieved positive same-store sales growth for the first time in four consecutive quarters, with momentum further accelerating into Q3.
Expansion of Large Store Strategy
MINISO opened 11 MINISO LAND stores, with the flagship store on Shanghai Nanjing East Road achieving RMB 100 million sales within 9 months.
International Market Success
Overseas market revenue grew by 28.6%. U.S. revenue increased by over 80%, with significant improvements in store efficiency and sales per square meter.
Strong Cash Flow and Shareholder Returns
H1 2025 saw RMB 1.07 billion returned to shareholders through buybacks and dividends, representing 84% of the adjusted net profit.
Negative Updates
Latin American Market Challenges
Revenue in the Latin American market declined due to inventory adjustments and foreign exchange fluctuations, though retail GMV was growing.
Tariff Concerns
There were concerns about the impact of U.S. tariffs, though the company reported no negative effect on margins.
Company Guidance
In the recent earnings call for the fiscal year 2025, the company reported strong financial performance, with several key metrics exceeding expectations. Operating profit and adjusted EPS surpassed forecasts, reflecting robust growth across both domestic and international markets. The overall GMV grew by 21%, and revenue increased by 23.1% in Q2. The MINISO brand's revenue rose by 20%, while the TOP TOY brand achieved an impressive 87% growth. The gross margin improved to 44.3%, driven by increased overseas revenue and GP margin optimization at TOP TOY. The adjusted operating profit reached RMB 850 million, with an operating margin of 17.2%. The company plans to distribute 50% of the annual adjusted net profit as dividends and expects continued growth momentum in H2, forecasting a full-year revenue growth of at least 25%, supported by strategic initiatives including large store expansion and proprietary IP development.

MINISO Group Holding Financial Statement Overview

Summary
MINISO Group Holding exhibits strong financial health with impressive revenue and profit growth, a solid equity base, and manageable debt levels. The income statement shows robust growth, while the balance sheet reflects financial stability. Cash flow is stable, with room for efficiency improvements.
Income Statement
83
Very Positive
MINISO Group Holding has demonstrated solid growth in its income statement. The revenue growth rate from 2023 to 2024 was impressive, illustrating a strong upward trajectory. The gross profit margin and net profit margin have shown considerable improvement, indicating enhanced profitability. The EBIT and EBITDA margins are robust, reflecting effective cost management and operational efficiency. Overall, the company's income statement reveals strong growth and profitability, positioning it favorably in the specialty retail sector.
Balance Sheet
79
Positive
The balance sheet of MINISO Group Holding reflects financial stability with a solid equity base and a manageable level of debt. The debt-to-equity ratio is low, suggesting conservative leverage. The return on equity has significantly improved, showcasing the company's ability to generate returns from shareholders' investments. The equity ratio indicates a healthy proportion of equity financing. While there is a strong equity position, the company should remain vigilant in managing liabilities to sustain this positive trend.
Cash Flow
76
Positive
The cash flow analysis of MINISO Group Holding highlights a stable cash generation capability. The operating cash flow to net income ratio is favorable, indicating efficient conversion of earnings into cash. The free cash flow growth rate is positive, supporting future investments and debt servicing. However, the free cash flow to net income ratio suggests room for improvement in cash flow management. Overall, the cash flow statement reflects a solid cash position, with opportunities to enhance cash flow efficiency.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue17.70B16.99B11.47B11.47B10.09B9.07B
Gross Profit7.98B7.64B4.44B4.44B3.07B2.43B
EBITDA3.07B3.23B2.16B2.16B870.01M481.17M
Net Income2.45B2.62B1.77B1.77B638.17M-1.42B
Balance Sheet
Total Assets26.19B18.12B14.49B13.45B11.28B10.71B
Cash, Cash Equivalents and Short-Term Investments7.25B6.70B6.63B7.28B5.80B6.87B
Total Debt9.21B3.11B1.25B892.95M658.01M825.01M
Total Liabilities15.51B7.76B5.29B4.53B4.25B4.05B
Stockholders Equity10.63B10.31B9.17B8.90B7.03B6.66B
Cash Flow
Free Cash Flow0.001.41B1.67B1.49B172.06M736.04M
Operating Cash Flow0.002.17B2.20B1.67B1.41B916.32M
Investing Cash Flow0.00-533.25M354.15M-293.41M-2.13B-518.80M
Financing Cash Flow0.00-1.72B-2.64B-325.96M-733.56M3.54B

MINISO Group Holding Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price22.26
Price Trends
50DMA
21.95
Positive
100DMA
20.10
Positive
200DMA
20.27
Positive
Market Momentum
MACD
0.20
Positive
RSI
39.99
Neutral
STOCH
4.17
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MNSO, the sentiment is Neutral. The current price of 22.26 is below the 20-day moving average (MA) of 24.45, above the 50-day MA of 21.95, and above the 200-day MA of 20.27, indicating a neutral trend. The MACD of 0.20 indicates Positive momentum. The RSI at 39.99 is Neutral, neither overbought nor oversold. The STOCH value of 4.17 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for MNSO.

MINISO Group Holding Risk Analysis

MINISO Group Holding disclosed 103 risk factors in its most recent earnings report. MINISO Group Holding reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

MINISO Group Holding Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
79
Outperform
9.09B10.0419.36%2.60%-5.24%-12.89%
77
Outperform
8.53B31.3114.32%13.88%-2.64%
77
Outperform
$7.27B21.9322.92%2.77%10.93%-10.89%
63
Neutral
5.50B7.68-47.03%3.00%-0.18%-18.95%
59
Neutral
6.36B51.33-14.58%2.38%-38.88%
57
Neutral
11.26B-36.1917.86%0.87%54.67%
61
Neutral
$18.38B12.79-2.54%3.03%1.52%-15.83%
* Consumer Cyclical Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
MNSO
MINISO Group Holding
22.26
5.26
30.94%
BBWI
Bath & Body Works
26.66
-4.44
-14.28%
VIPS
Vipshop
18.43
3.25
21.41%
FIVE
Five Below
154.76
66.41
75.17%
W
Wayfair
86.82
30.64
54.54%
ETSY
Etsy
64.18
8.65
15.58%

MINISO Group Holding Corporate Events

MINISO Reports Strong Revenue Growth Amid Profit Decline in 2025 Interim Report
Sep 22, 2025

On September 22, 2025, MINISO Group Holding Limited released its 2025 Interim Report, highlighting a 21.1% increase in revenue and a 22.6% rise in gross profit for the six months ending June 30, 2025, compared to the same period in 2024. Despite these gains, the company experienced a decrease in profit before taxation and profit for the period, attributed to various financial adjustments. The report underscores MINISO’s strategic focus on using non-IFRS measures to provide a clearer picture of its operational performance, which is crucial for stakeholders to understand the company’s financial health and future growth potential.

MINISO Reports Stable Share Capital Amid Ongoing Repurchase Program
Sep 4, 2025

On September 4, 2025, MINISO Group Holding Limited reported no changes in its authorized or issued share capital for the month ending August 31, 2025. The company maintained a total of 10 billion authorized shares and 1.24 billion issued shares. Additionally, the company highlighted its ongoing share repurchase program, with shares repurchased from both the Hong Kong Exchange and the New York Stock Exchange still pending cancellation. This stability in share capital and the active repurchase program may indicate a strategic focus on shareholder value and market confidence.

MINISO Announces Adjustments to Equity Securities Following Dividend Declaration
Sep 2, 2025

On August 29, 2025, MINISO Group Holding Limited announced adjustments to the exercise price of its equity-linked securities and call spread due to the declaration of a 2025 interim dividend. The exercise price of the equity-linked securities was adjusted from US$8.1516 to US$8.0314 per share, effective September 6, 2025, while the upper strike exercise price was adjusted from US$12.9246 to US$12.7340 per share. These adjustments resulted in an increase in the number of shares that may be settled or issued, reflecting the company’s strategic financial management and potentially impacting shareholder value.

MINISO Group Reports Strong Growth in June 2025 Quarter
Aug 22, 2025

In its financial results for the June quarter and the first half of 2025, MINISO Group reported a 23.1% increase in revenue and an 11.3% rise in operating profit for the quarter, with a notable 87% revenue growth for its TOP TOY brand. The company also announced an interim dividend and resumed store network expansion in mainland China, opening 30 new stores in the June quarter. The results highlight MINISO’s strategic growth and market expansion, with a total of 7,905 stores worldwide as of June 30, 2025, reflecting a year-over-year increase of 842 stores, underscoring its strong market positioning and commitment to global expansion.

MINISO Executes Share Repurchase Plan on July 31, 2025
Aug 5, 2025

On July 31, 2025, MINISO Group Holding Limited reported a repurchase of 53,000 ordinary shares as part of a Hong Kong automatic share repurchase plan. This move reflects the company’s strategic initiative to manage its share capital and potentially enhance shareholder value. The repurchase was conducted on the Hong Kong Stock Exchange, with the shares bought back at prices ranging from HKD 36.9 to HKD 38, totaling HKD 1,987,240. This action is part of the company’s broader strategy to optimize its capital structure and demonstrates its commitment to delivering value to its stakeholders.

MINISO Executes Share Repurchase on NYSE Amid Strategic Financial Moves
Jul 31, 2025

On July 25, 2025, MINISO Group Holding Limited executed a share repurchase program on the New York Stock Exchange, buying back 51,200 ordinary shares at a total cost of USD 243,695.15. This move is part of a broader repurchase mandate authorized in June 2025, allowing the company to repurchase up to 124,122,899 shares. The repurchase is expected to impact the company’s share value and reflects its strategic financial management, potentially benefiting shareholders by enhancing earnings per share.

MINISO Executes Strategic Share Repurchase on NYSE
Jul 23, 2025

On July 17, 2025, MINISO Group Holding Limited repurchased 54,000 ordinary shares on the New York Stock Exchange as part of its 10b5-1 repurchase program. This move is part of the company’s strategic efforts to manage its share capital and potentially enhance shareholder value. The repurchase aligns with regulatory compliance and reflects MINISO’s proactive approach to optimizing its financial structure.

MINISO Executes Share Repurchase on NYSE Amid Strategic Capital Optimization
Jul 18, 2025

On July 14, 2025, MINISO Group Holding Limited repurchased 53,200 ordinary shares on the New York Stock Exchange as part of its ongoing 10b5-1 repurchase program. This strategic move is aimed at optimizing the company’s capital structure and potentially enhancing shareholder value, reflecting MINISO’s commitment to maintaining a robust financial position.

MINISO Executes Share Repurchase on NYSE
Jul 15, 2025

On July 9, 2025, MINISO Group Holding Limited executed a share repurchase, buying back 53,200 ordinary shares on the New York Stock Exchange as part of a 10b5-1 repurchase program. This action reflects the company’s strategic initiative to manage its capital structure and potentially enhance shareholder value.

MINISO Executes Share Repurchase Plan in July 2025
Jul 10, 2025

On July 7, 2025, MINISO Group Holding Limited executed a share repurchase of 54,200 ordinary shares on the Hong Kong Stock Exchange as part of an automatic share repurchase plan. This move, authorized by a resolution on June 12, 2025, reflects the company’s strategic financial management and commitment to enhancing shareholder value by reducing the number of shares in circulation.

MINISO Executes Share Repurchase on NYSE to Enhance Equity Structure
Jul 7, 2025

On July 1, 2025, MINISO Group Holding Limited executed a repurchase of 51,200 ordinary shares on the New York Stock Exchange as part of a 10b5-1 repurchase program. This move is part of the company’s ongoing strategy to manage its equity structure and potentially enhance shareholder value, reflecting its commitment to maintaining a balanced approach to capital management.

MINISO Executes Share Repurchase on NYSE
Jul 2, 2025

On June 25, 2025, MINISO Group Holding Limited executed a share repurchase program, buying back 51,600 ordinary shares on the New York Stock Exchange as part of a 10b5-1 repurchase program. This move is part of the company’s strategy to manage its share capital and potentially enhance shareholder value. The repurchase reflects MINISO’s confidence in its business prospects and commitment to returning value to its shareholders.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Aug 23, 2025