公司名稱： 名創優品集團控股有限公司 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 | | | FF305 第 2 頁 共 7 頁 v 1.3.0 FF305 呈交日期： 2026年2月4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 | ...

1月30日,名创优品举办2026全球合作伙伴大会,董事会主席兼CEO叶国富发布新愿景:成为全球领先的IP 运营平台。 围绕这一愿景,名创优品将全力孵化自有IP,打造世界级中国IP,推动公司从零售企业向全球领先的IP运营 平台转型。叶国富表示,预计三年内名创优品全球门店将突破10000家,作为中国IP全球化主通道,带领100 个中国IP出海。 名创优品集团全球副总裁兼首席渠道官寇维宣 同日,位于广州正佳广场的MINISO LAND广州壹号店开业,该店超1100平方米,分两层空间,YOYO、吉福 特熊等名创优品自有 IP 造型显眼,呈现强烈的潮玩视觉。产品构成上,该店IP产品占比超90%,汇聚全球热 门IP。 名创优品集团董事会主席兼CEO叶国富 名创优品集团全球副总裁兼首席渠道官寇维宣表示,以MINISO LAND为核心的"乐园系"门店是新愿景的 关键落地。通过"开大店、开好店"的渠道策略,MINISO LAND在全球已超过25家,未来这一城市IP乐园将 遍布全球,持续引领全球兴趣消费趋势。 截止目前,MINISO LAND均位于全球一线城市核心商圈,意味着名创优品从"零售公司"向"文化创意集团" 极速转型。 ...

格隆汇2月3日丨名创优品(09896.HK)发布公告，2026年2月3日耗资189.56万港元回购5.26万股，回购价 格每股35.34-36.56港元。 ...

智通财经APP讯，名创优品(09896)发布公告，于2026年2月3日斥资189.56万港元回购5.26万股。 ...

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： 2026年2月3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 | | 佔有 ...

Core Viewpoint - MINISO is undergoing a significant strategic adjustment, planning to close 80% of its existing stores over the next five years and focus on opening larger stores centered around IP products, specifically the "MINISO LAND" concept [1][5]. Group 1: Store Strategy - The company will close 80% of its current stores and all new stores will have a minimum area of 400 square meters [1][5]. - MINISO LAND, a strategic store type, has already established over 25 locations globally, primarily in major city centers [3]. - The Shanghai MINISO LAND store achieved over 100 million yuan in sales within nine months, setting a global record for store sales [3]. Group 2: IP Development - MINISO aims to transform from a retail company to a global IP operation platform, emphasizing the importance of cultural understanding and IP [3][6]. - The company plans to invest 100 million yuan annually to cultivate original IP and enhance its full-chain operational capabilities [6]. - MINISO has established partnerships with over 150 well-known IPs globally and is developing its own IPs, such as the Gifford Bear and Dun Chicken [6]. Group 3: Future Goals - The company plans to expand its global store count to over 10,000 within three years and aims to promote 100 Chinese IPs internationally [1][6]. - MINISO is launching the "IP Genius Youth Program" to recruit top IP creators globally, offering annual salaries up to 10 million yuan [6].

Core Insights - The company aims to become a global leading IP operation platform, transitioning from a retail enterprise to this new model [1][3] - The CEO announced plans to incubate proprietary IP and create world-class Chinese IP [1][3] - The company expects to exceed 10,000 global stores within three years and intends to lead 100 Chinese IPs to go global [1][3]

Core Viewpoint - The report from Huaxin Securities predicts that Miniso (09896) will see revenues of 20.257 billion, 24.130 billion, and 28.739 billion yuan from 2025 to 2027, with EPS of 2.10, 2.70, and 3.20 yuan respectively, corresponding to PE ratios of 16, 13, and 11 times. The company is expected to benefit from the growth of the Chinese trendy toy industry and its "big store, good store" strategy aimed at enhancing profitability, maintaining a "buy" investment rating [1]. Group 1 - Miniso's MINISOLAND store opened in Guangzhou on January 30, 2026, covering over 1,100 square meters with over 90% of products being IP-related, targeting annual sales of 100 million yuan [1]. - As of January 2026, Miniso's global retail network spans 112 countries and regions with over 8,500 stores, aiming to increase to over 10,000 stores in the next three years. The MINISOLAND brand has over 25 locations in major global cities, with plans to upgrade 80% of stores to IP theme parks by 2026 [1]. - The company has developed 16 proprietary IPs and partnered with 180 international IPs, with global sales of the "Zootopia" collaboration series reaching nearly 1 billion yuan. Future focus will be on original IP development through a "retail + entertainment" dual-drive model [1]. Group 2 - On January 30, 2026, the company announced the development of a humanoid robot based on its proprietary IP "YOYO," aimed at the family companion market with an expected price in the ten-thousand yuan range, integrating AI technology with IP imagery [2]. - The "YOYO" blind box series, designed by an exclusive artist, has seen significant sales growth since its launch, with a notable surge in December leading to product sellouts. This project marks a significant step in the company's AI and IP integration strategy [2]. Group 3 - On January 29, 2026, Miniso became the first trendy toy partner for the CCTV Spring Festival Gala, launching a co-branded product series on February 4. This collaboration signifies a key marketing practice and a move towards mainstream recognition for the trendy toy industry [3]. - The partnership with the Spring Festival Gala is viewed as a critical leap in the company's "interest consumption" strategy and a significant step in its transformation from a retail company to a cultural and creative enterprise [3].

Core Viewpoint - The company is expected to benefit from the growth of the Chinese trendy toy industry, with a projected revenue increase and a strategic shift towards becoming a leading global IP operation platform [1][2][3] Group 1: Financial Projections - Revenue forecasts for the company from 2025 to 2027 are estimated at 20.257 billion, 24.130 billion, and 28.739 billion yuan, respectively, with EPS projected at 2.10, 2.70, and 3.20 yuan, leading to corresponding PE ratios of 16, 13, and 11 times [1] - The company maintains a "buy" investment rating based on its growth potential and strategic initiatives [1] Group 2: Expansion and IP Strategy - The company opened its MINISOLAND store in Guangzhou, covering over 1,100 square meters, with over 90% of products being IP-related, aiming for annual sales of 100 million yuan [1] - The global retail network has expanded to over 8,500 stores across 112 countries, with plans to increase to over 10,000 stores in the next three years [1] - The company has developed 16 proprietary IPs and partnered with 180 international IPs, with significant sales from the collaboration with "Zootopia" [1] Group 3: AI and IP Integration - The company is developing a humanoid robot based on its proprietary IP "YOYO," targeting the home companion market with an expected price in the ten-thousand yuan range [2] - The "YOYO" blind box products have shown significant sales growth, indicating a successful integration of AI technology with IP [2] Group 4: Cultural Collaboration - The company has become the first trendy toy partner for the 2026 Spring Festival Gala, marking a significant collaboration with CCTV and launching a co-branded product series [3] - This partnership is seen as a key step in the company's strategy to transition from a retail-focused business to a cultural and creative enterprise [3]

Investment Rating - The report maintains a "Buy" investment rating for the company [1] Core Insights - The company is transitioning from a retail business to a global IP operation platform, with a focus on expanding its store network and enhancing its IP offerings [3][4] - The launch of MINISO LAND stores and the development of humanoid robots signify the company's commitment to integrating AI with its IP strategy [4][5] - The collaboration with the Spring Festival Gala marks a significant step in the company's marketing strategy and brand transformation [5] Summary by Sections Market Performance - The company has shown resilience in its market performance, with a notable comparison to the Hang Seng Index [2] Company Dynamics - MINISO LAND's first store opened in Guangzhou, aiming for annual sales of 100 million yuan, with over 90% of products being IP-related [3] - The company plans to increase its global store count to over 10,000 in the next three years, with a significant portion of stores being upgraded to IP-themed locations [3] AI and IP Integration - The company is developing a humanoid robot based on its IP "YOYO," targeting the home companion market, with expected pricing in the ten-thousand yuan range [4] - The YOYO blind box products have seen significant sales growth, indicating strong market demand for IP-related merchandise [4] Strategic Collaborations - The partnership with the Central Radio and Television Station for the Spring Festival Gala is expected to enhance brand visibility and align with the trend of mainstreaming collectible toys [5] Financial Forecast - Revenue projections for 2025-2027 are 202.57 billion yuan, 241.30 billion yuan, and 287.39 billion yuan, respectively, with corresponding EPS of 2.10, 2.70, and 3.20 yuan [7] - The company is expected to benefit from the growing collectible toy industry and its strategic store expansion, maintaining a favorable outlook on profitability [7]