智通财经APP讯，名创优品(09896)发布公告，于2025年8月21日斥资60.7万港元回购股份1.6万股，每股 回购价格为37.8-38港元。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 名創優品集團控股有限公司 呈交日期： 2025年8月21日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 不適用 | | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 09896 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | | 佔 ...

Core Insights - Miniso reported a revenue of 9.393 billion yuan for the first half of 2025, representing a year-on-year growth of 21.1% [1] - The gross profit margin increased to 44.3%, compared to 43.7% in the same period last year [1] - Adjusted net profit reached 1.279 billion yuan, slightly up from 1.242 billion yuan in the previous year [1]

Core Insights - MINISO reported a total revenue of 4.97 billion yuan for Q2 2025, marking a year-on-year increase of 23.1% with a gross margin of 44.3% [1] - The company announced an interim dividend of $0.29 per ADS, with total share buybacks and dividends amounting to approximately 1.07 billion yuan, representing 84% of adjusted net profit [1] Revenue Growth - The MINISO brand achieved total revenue of 4.56 billion yuan in Q2 2025, a 19.5% year-on-year increase, with domestic revenue at 2.62 billion yuan (up 13.6%) and overseas revenue at 1.94 billion yuan (up 28.6%) [2] - The number of domestic stores reached 4,305, with a net increase of 30 stores in the quarter, while overseas stores totaled 3,307, with a net increase of 94 stores [2] Store Performance - Same-store sales in the domestic market showed positive growth, with the number of franchisees reaching a historical high [2] - The MINISO LAND concept stores have achieved significant sales performance, with the flagship store in Shanghai generating over 100 million yuan in sales within nine months [3] Global Expansion - MINISO continues to accelerate its global expansion, opening flagship stores in high-potential markets such as South Korea, Australia, and Thailand [3] - In the U.S. market, new stores have shown a sales performance 1.5 times that of older stores, with revenue growth exceeding 80% year-on-year in Q2 [3] E-commerce Growth - The instant retail channel experienced a 53% year-on-year sales increase in the first half of the year, with 12 product categories exceeding 10 million yuan in sales [4] IP Strategy - The company reported a gross margin of 44.3% in Q2 2025, reflecting enhanced brand strength through diversified IP strategies [5] - MINISO has established partnerships with top international IPs like Disney and Sanrio, while also signing nine emerging original toy artists to expand its IP portfolio [5][6] Future Outlook - The CEO emphasized the importance of deepening IP collaborations and building a sustainable growth model through differentiated and high-impact IP strategies [6]

Core Viewpoint - MINISO Group reported strong financial performance for Q2 2025, with total revenue reaching 4.97 billion yuan, a year-on-year increase of 23.1%, and adjusted net profit of 690 million yuan, up 10.6% [1] Financial Performance - Q2 total revenue was 4.97 billion yuan, a 23.1% increase year-on-year [1] - Adjusted net profit for Q2 was 690 million yuan, reflecting a 10.6% growth [1] - The company announced an interim dividend of $0.29 per American Depositary Share (ADS) [1] - Total share buybacks and dividends for the first half of the year amounted to approximately 1.07 billion yuan, representing 84% of adjusted net profit [1] Revenue Breakdown - Brand revenue for Q2 was 4.56 billion yuan, a 19.5% increase year-on-year [2] - Domestic revenue reached 2.62 billion yuan, growing 13.6% year-on-year [2] - Overseas revenue was 1.94 billion yuan, with a significant increase of 28.6% [2] Store Expansion - As of June 30, 2025, MINISO had 4,305 domestic stores, with a net increase of 30 stores in the quarter [1] - The number of overseas stores reached 3,307, with a net increase of 94 stores in the same period [1] - The company has established 11 MINISO LAND locations in major cities like Shanghai, Beijing, Guangzhou, and Chengdu [1] Global Expansion and IP Strategy - MINISO accelerated its global expansion with new flagship stores opening in Seoul, Melbourne, and Bangkok, contributing to overseas market growth [2] - The U.S. market revenue grew over 80% in Q2, driven by the large store model [2] - The company is implementing a dual-track IP strategy, collaborating with top international IPs like Disney and Sanrio, while also signing original toy artists [2] - TOP TOY, a brand under MINISO, achieved revenue of 400 million yuan in Q2, marking an 87% increase, with a total of 293 stores [2] Leadership Vision - The CEO emphasized the importance of deepening IP collaborations to ensure sustainable growth and to build a differentiated, high-explosive, and replicable growth driver [3]

Group 1 - Dow futures fell by 0.23%, S&P 500 futures decreased by 0.09%, and Nasdaq futures dropped by 0.02% [1] - Chinese concept stocks mostly rose, with Xiaopeng Motors up 1.08%, NIO up 2.95%, Boss Zhipin up 3.26%, and Miniso up 5.56% [1] - Target's CEO Brian Cornell will step down on February 1 after 11 years due to poor sales performance, with COO Michael Fiddelke taking over [1] - Target has seen sales flat or declining in 9 out of the last 11 quarters, and its stock fell by 0.37% [1] Group 2 - OpenAI's CFO Sarah Friar stated that the company still faces a shortage of computing power, leading to increased demand for GPUs, resulting in a rise in chip stocks [1] - Nvidia rose by 0.4%, AMD increased by 0.72%, and TSMC went up by 0.32% [1] Group 3 - Meta has paused hiring in its AI department after recruiting over 50 researchers and engineers, raising concerns about its ability to return capital to shareholders [2] - Meta's stock fell by 0.21% [2] - Novo Nordisk announced a hiring freeze for non-critical positions globally and is considering layoffs to cut costs [2] - Novo Nordisk's stock rose by 0.24% [2] Group 4 - Delta Airlines confirmed that a Boeing 737 aircraft suffered wing damage during a flight, but no injuries were reported among the 62 passengers and 6 crew members [2] - The aircraft has been grounded for repairs, and the FAA is investigating the incident [2] - Delta's stock fell by 0.08%, while Boeing's stock decreased by 0.27% [2] Group 5 - Johnson & Johnson announced a $2 billion investment in North Carolina to build a new factory, aimed at expanding its production in the U.S. to avoid potential drug import tariffs [3] - Johnson & Johnson's stock fell by 0.29% [3]

Core Insights - Miniso reported a total revenue of 4.97 billion yuan for Q2 and the first half of 2025, representing a year-on-year growth of 23.1% [1] - The adjusted net profit (Non-IFRS) for the same period was 690 million yuan, showing a year-on-year increase of 10.6% [1] Store Expansion - As of June 30, 2025, Miniso had 4,305 domestic stores, with a net increase of 30 stores in the quarter [1] - The company also had 3,307 overseas stores, with a net increase of 94 stores in the same period [1] IP Strategy - Miniso is implementing a dual-track model for its proprietary IP, focusing on both top-tier licensed IP and signed artist IP [1] - The company has established partnerships with international IP leaders like Disney and Sanrio to attract a broad consumer base [1] - Miniso is actively signing promising original toy artists globally, having strategically signed 9 toy artists to enhance its IP portfolio [1] Long-term Vision - The Chairman and CEO of Miniso, Ye Guofu, emphasized that the investment in proprietary IP is a long-term strategy aligned with market trends [2] - The company aims to deepen its collaborations with leading global IPs to ensure sustainable growth and stability while building a differentiated and replicable growth driver through its own IP [2]

Core Insights - MINISO Group (MNSO.US/9896.HK) reported Q2 2025 total revenue of 4.97 billion yuan, representing a year-on-year growth of 23.1% [1] - The gross margin for the quarter was 44.3%, an increase of 40 basis points compared to the same period last year [1] - Adjusted net profit (Non-IFRS) reached 690 million yuan, up 10.6% year-on-year, with an adjusted net profit margin of 13.9% [1] Store Expansion - As of the end of June, MINISO had 4,305 domestic stores, with a net increase of 30 stores in the quarter, and 3,307 overseas stores, with a net increase of 94 stores [1] - The strategy of "opening good stores and large stores" has shown significant results, with same-store sales growth turning positive in both domestic and overseas markets [1] New Store Formats - MINISO has established 11 MINISO LAND stores and 1 MINISO SPACE store in key cities across the country as of the end of June [1] - The MINISO LAND flagship store achieved over 100 million yuan in sales within 9 months, creating a strong IP commercial channel network [1]

Revenue Growth - Revenue increased 23.1% year over year to RMB4,966.1 million (US$693.2 million), exceeding the previous guidance of 18%-21%[6] - Revenue for the first half of 2025 was RMB9,393.1 million (US$1,311.2 million), representing a year-over-year increase of 21.1%[30] - Revenue from the MINISO brand increased by 18.1% to RMB8,649.0 million (US$1,207.4 million), with overseas markets contributing 40.9% of this revenue, up from 37.3% in the same period last year[31] - Revenue from the TOP TOY brand surged by 73.0% to RMB742.1 million (US$103.6 million), driven by rapid growth in average store counts[32] - For the three months ended June 30, 2025, MINISO's revenue reached RMB 4,966,068, representing a year-over-year increase of 23.1%[83] - Revenue from the TOP TOY brand increased by 87.0% year-over-year for the three months ended June 30, 2025, totaling RMB 402,208[83] Profitability - Operating profit rose 11.3% year over year to RMB836.2 million (US$116.7 million) with an adjusted operating profit of RMB851.8 million (US$118.9 million), up 8.5%[6][24] - Adjusted net profit increased 10.6% year over year to RMB691.5 million (US$96.5 million), with an adjusted net margin of 13.9%[6][11] - Adjusted net profit for the period was RMB1,278.7 million (US$178.5 million), compared to RMB1,241.9 million in the same period last year[40] - Adjusted EBITDA increased by 11.2% year over year to RMB2,186.8 million (US$305.3 million), with an adjusted EBITDA margin of 23.3%[40] - Basic earnings per ADS decreased to RMB2.96 (US$0.41) from RMB3.76 in the same period last year[40] - The company reported a basic earnings per share of 0.40 for the three months ended June 30, 2025, down from 0.47 in the same period of 2024[70] Store Expansion - The number of MINISO stores reached 7,612 as of June 30, 2025, representing a year-over-year increase of 744 stores[11] - The number of MINISO stores in mainland China increased from 4,115 to 4,305, a net addition of 190 stores year-over-year[85] - Overseas store count rose from 2,753 to 3,307, adding 554 stores year-over-year[86] Financial Position - Cash position was RMB7,466.1 million (US$1,042.2 million) as of June 30, 2025, compared to RMB6,698.1 million at the end of 2024[11] - Cash position as of June 30, 2025, was RMB7,466.1 million (US$1,042.2 million), an increase from RMB6,698.1 million as of December 31, 2024[42] - Total assets as of June 30, 2025, were RMB 26,647,788, compared to RMB 18,120,128 as of December 31, 2024, reflecting a 47.3% increase[60] - Cash and cash equivalents increased to RMB 7,115,183 as of June 30, 2025, from RMB 6,328,121 as of December 31, 2024, indicating a growth of 12.5%[60] - Total equity attributable to equity shareholders of the Company was RMB 10,852,107 as of June 30, 2025, up from RMB 10,314,974 as of December 31, 2024, representing a 5.2% increase[63] Expenses and Costs - Selling and distribution expenses increased 40.4% year over year, primarily due to investments in directly operated stores[20] - Net finance cost was RMB128.4 million (US$17.9 million), compared to net finance income of RMB34.0 million in the same period last year[37] - The company experienced a net finance cost of RMB 79,370 for the three months ended June 30, 2025, compared to a net finance income of RMB 9,030 in the same period of 2024[69] - The finance costs excluding interest expenses related to the Equity Linked Securities for the three months ended June 30, 2025, were RMB 34,685[79] Other Financial Metrics - Gross margin improved to 44.3%, up 0.4 percentage points year over year, driven by higher revenue from overseas markets[19] - Gross profit reached RMB4,156.9 million (US$580.3 million), an increase of 22.6% year over year, with a gross margin of 44.3%[33] - Profit for the period for the three months ended June 30, 2025, was RMB 489,531, a decrease of 17.2% from RMB 591,425 in the same period of 2024[70] - Share of loss of equity-accounted investees was RMB138.9 million (US$19.4 million), compared to a profit of RMB0.3 million in the same period last year[38] - The share of loss from Yonghui, net of tax, was RMB 119,335 for both the three and six months ended June 30, 2025[79]

Core Insights - Miniso (09896) reported revenue of 9.393 billion RMB for the six months ending June 30, 2025, representing a year-on-year growth of 21.1% [1] - The profit attributable to equity shareholders was 906 million RMB, a decline of 22.6% compared to the previous year [1] - Basic earnings per share for ordinary shares stood at 0.74 RMB [1] Revenue Breakdown - Revenue from the Miniso brand increased by 18.1% to 8.649 billion RMB, with domestic revenue in mainland China growing by 11.4% and overseas revenue increasing by 29.4% [1] - Overseas revenue accounted for 40.9% of total Miniso brand revenue, up from 37.3% in the same period last year [1] - TOP TOY brand revenue surged by 73.0% to 742.1 million RMB, primarily driven by rapid growth in average store count [1] Profitability Metrics - Gross margin reached 44.3%, marking a historical high for the first half of the year, an increase of 0.6 percentage points [1] - The year-on-year growth in gross margin was mainly attributed to increased revenue contribution from the overseas market for the Miniso brand and improved gross margin for TOP TOY [1]