智通财经APP讯，名创优品(09896)发布公告，该公司将于2025年9月16日派发截至2025年6月30日止6个 月的中期股息每股0.0724美元。 ...

（文章来源：每日经济新闻） 每经AI快讯，8月21日，名创优品美股盘前涨超2%。 ...

名创优品(MNSO.US)盘前涨超3%，报21.5美元。公司刚刚公布业绩显示，上半年实现营收93.9亿元，同 比增长21.1%；上半年经调整净利润12.8亿元，去年同期为12.4亿元。 ...

格隆汇8月21日丨名创优品(09896.HK)公布截至2025年6月30日止三个月及六个月的未经审计季度及中期 财务业绩。2025年上半年，收入同比增长21.1%至人民币93.931亿元。毛利同比增长22.6%至人民币 41.569亿元。毛利率为44.3%，而去年同期为43.7%。经营利润同比增长3.4%至人民币15.459亿元。期内 利润为人民币9.060亿元，而去年同期为人民币11.774亿元。 2025年第二季度，收入同比增长23.1%至人民币49.661亿元，超过了公司此前18%至21%指引范围的上 限。第二季度，公司的三个经营分部的同店销售增长均实现了显著的连续改善，使得集团层面的同店销 售增长继上个季度的中个位数下降转变至正增长区间。名创优品品牌的同店销售增长同比持平，主要体 现在(i)中国内地的低个位数增长，及(ii)海外市场的低个位数下降。TOP TOY品牌的同店销售增长同比 优化至低个位数的增长率。毛利率为44.3%，而去年同期为43.9%。经营利润同比增长11.3%至人民币 8.362亿元。期内利润为人民币4.895亿元，而去年同期为人民币5.914亿元。经调整净利润同比增长 10.6%至 ...

每经AI快讯，8月21日，名创优品公告，截至2025年6月30日止三个月，收入同比增长23.1%至人民币 49.66亿元；经营利润同比增长11.3%至人民币8.36亿元；经调整每股美国存托股的摊薄盈利增长12.0% 至人民币2.24元。截至2025年6月30日止六个月，收入同比增长21.1%至人民币93.93亿元；经调整净利 润为人民币12.79亿元；经调整每股美国存托股的基本及摊薄盈利分别为人民币4.16元及人民币4.12元。 每日经济新闻 ...

EF001 發行人所發行上市權證/可轉換債券的相關信息 發行人所發行上市權證/可轉換債券 不適用 其他信息 其他信息 不適用 發行人董事 截至本公告日期，本公司董事會包括執行董事葉國富先生，以及獨立非執行董事徐黎黎女士、朱擁華先生及王永平先生。 第 2 頁 共 2 頁 v 1.1.1 EF001 免責聲明 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 名創優品集團控股有限公司 | | 股份代號 | 09896 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至2025年6月30日止六個月之中期股息 | | 公告日期 | 2025年8月21日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 中期（半年期） | | 股息性質 | 普通股息 | | 財政年末 | 2025年12月3 ...

MINISO Group Holding Limited 名創優品集團控股有限公司 （於開曼群島註冊成立的有限責任公司） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 （股份代號：9896） 截至2025年6月30日止六個月的中期業績公告 名創優品集團控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本 公司及其附屬公司（「本集團」）截至2025年6月30日止六個月（「報告期」）的中期綜 合業績連同2024年同期的比較數字。該等中期業績已由董事會審計委員會（「審計 委員會」）審閱。 於本公告中，「我們」、「我們的」及「名創優品」指本公司及本集團（除文義另有所 指）。 財務表現摘要 | | 截至6月30日止六個月 | | 同比 （「同比」） | | --- | --- | --- | --- | | | 2024年 | 2025年 | 變動(%) | | | | （人民幣（「人民幣」）千元， | | | | | 百分比及每股數據除外） ...

名创优品第二季度营收49.7亿元人民币，预估48.4亿元人民币；第二季度调整后净利润6.915亿元人民 币。 风险提示及免责条款 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何 意见、观点或结论是否符合其特定状况。据此投资，责任自负。 ...

[Financial and Operational Overview](index=3&type=section&id=Financial%20and%20Operational%20Overview) [Quarterly Financial Highlights (For the Three Months Ended June 30, 2025)](index=3&type=section&id=Quarterly%20Financial%20Highlights) The company delivered strong performance in Q2 2025 (June quarter), with total revenue increasing by 23.1% to RMB 4.97 billion, exceeding the upper end of guidance. Gross margin slightly rose to 44.3%, and adjusted net profit grew by 10.6% year-over-year. Group-level same-store sales turned positive, indicating accelerating business growth Key Financial Metrics for the Quarter Ended June 30, 2025 | Metric | Q2 2025 (June Quarter) | YoY Change | | :--- | :--- | :--- | | Revenue (RMB billion) | 4.966 | +23.1% | | Gross Margin | 44.3% | +0.4 percentage points | | Operating Profit (RMB billion) | 0.836 | +11.3% | | Adjusted Operating Profit (RMB billion) | 0.852 | +8.5% | | Profit for the Period (RMB billion) | 0.490 | -17.2% | | Adjusted Net Profit (RMB billion) | 0.692 | +10.6% | | Adjusted EBITDA (RMB billion) | 1.150 | +14.7% | | Adjusted Diluted EPS per ADS (RMB) | 2.24 | +12.0% | - Group-level same-store sales growth turned positive this quarter, a significant improvement from the mid-single-digit decline in the previous quarter[8](index=8&type=chunk) - MINISO brand same-store sales growth was flat year-over-year, with low single-digit growth in the domestic market and low single-digit decline in overseas markets[8](index=8&type=chunk) - TOP TOY brand same-store sales growth improved to low single-digit growth[8](index=8&type=chunk) [Half-Year Financial Highlights (For the Six Months Ended June 30, 2025)](index=4&type=section&id=Half-Year%20Financial%20Highlights) In H1 2025, total revenue increased by 21.1% to RMB 9.39 billion, with gross margin rising to 44.3%. Despite slower operating profit growth, adjusted net profit still saw a slight increase, maintaining overall business expansion Key Financial Metrics for the Six Months Ended June 30, 2025 | Metric | H1 2025 | YoY Change | | :--- | :--- | :--- | | Revenue (RMB billion) | 9.393 | +21.1% | | Gross Profit (RMB billion) | 4.157 | +22.6% | | Gross Margin | 44.3% | +0.6 percentage points | | Operating Profit (RMB billion) | 1.546 | +3.4% | | Adjusted Net Profit (RMB billion) | 1.279 | +3.0% | | Adjusted Diluted EPS per ADS (RMB) | 4.12 | +4.0% | [Operating Highlights](index=5&type=section&id=Operating%20Highlights) As of June 30, 2025, the Group's global store count reached 7,905, with a net increase of 842 stores year-over-year, demonstrating strong expansion. Overseas markets were the primary driver for MINISO brand store growth, with 74.5% of new stores in the past 12 months located abroad, and TOP TOY also achieved significant store growth Store Count Changes (As of June 30, 2025) | Brand/Region | Total Stores | Net Increase YoY | | :--- | :--- | :--- | | **Group Total** | **7,905** | **842** | | **MINISO** | **7,612** | **744** | | - China Mainland | 4,305 | 190 | | - Overseas Markets | 3,307 | 554 | | **TOP TOY** | **293** | **98** | - As of June 30, 2025, the company's cash position (including cash, restricted cash, and time deposits) was **RMB 7.466 billion**[12](index=12&type=chunk) - In H1 2025, net cash generated from operating activities was **RMB 1.014 billion**, and free cash flow was **RMB 0.579 billion**[12](index=12&type=chunk) [Management Commentary](index=6&type=section&id=Management%20Commentary) [Remarks from Founder, Chairman & CEO, and CFO](index=6&type=section&id=CEO%20and%20CFO%20Remarks) Management expressed satisfaction with the quarter's results, highlighting the positive and accelerating trend in China mainland same-store sales, improved overseas markets, and optimism for H2 growth, while reaffirming commitment to shareholder value through dividends and buybacks, and emphasizing TOP TOY's strategic investment from Temasek - Mr. Guofu Ye, Founder, Chairman, and CEO, emphasized that MINISO China mainland same-store sales growth turned positive in the June quarter and is expected to achieve positive growth for the full year 2025, highlighting the company's strong execution and business model resilience[14](index=14&type=chunk) - Mr. Ye noted improved overseas business same-store sales, particularly in strategic markets like Europe and North America, with investments in direct-operated businesses expected to further unlock sales potential and optimize profit margins[14](index=14&type=chunk) - TOP TOY brand revenue grew by **87.0%** and completed a strategic financing round led by Temasek, with a post-investment valuation of approximately **HKD 10 billion**[14](index=14&type=chunk) - Mr. Jingjing Zhang, CFO, stated that revenue growth is expected to continue accelerating in H2 2025, with approximately **RMB 1.071 billion** returned to shareholders through share repurchases and dividends in H1 2025, representing **84%** of adjusted net profit[15](index=15&type=chunk)[16](index=16&type=chunk) [Recent Developments](index=7&type=section&id=Recent%20Developments) [Interim Dividend and TOP TOY Update](index=7&type=section&id=Interim%20Dividend%20and%20TOP%20TOY%20Update) The company announced an interim cash dividend for 2025, totaling approximately 50% of H1 adjusted net profit. Additionally, its trendy toy brand TOP TOY recently completed a strategic financing round led by Temasek, with a post-investment valuation of approximately HKD 10 billion, demonstrating strong market recognition of its business model and growth potential - The Board approved an interim cash dividend of **USD 0.2896 per ADS**, totaling approximately **USD 89.3 million** (approximately **RMB 0.640 billion**), representing **50%** of H1 2025 adjusted net profit[17](index=17&type=chunk) - TOP TOY completed a strategic financing round led by global investment company Temasek, with a post-transaction valuation of approximately **HKD 10 billion**[18](index=18&type=chunk) [Financial Results Analysis](index=7&type=section&id=Financial%20Results%20Analysis) [Quarterly Financial Results (For the Three Months Ended June 30, 2025)](index=7&type=section&id=Quarterly%20Financial%20Results) This quarter's revenue grew by 23.1%, primarily driven by strong growth in MINISO's overseas business (+28.6%) and TOP TOY business (+87.0%). Gross margin increased by 0.4 percentage points year-over-year to 44.3%. However, profit for the period decreased due to a significant 40.4% increase in selling and distribution expenses from strategic investments in overseas direct-operated stores, and losses from the investment in Yonghui Superstores Quarterly Revenue Breakdown | Brand/Region | Revenue (RMB billion) | YoY Growth | | :--- | :--- | :--- | | **MINISO Brand** | **4.563** | **+19.5%** | | - China Mainland | 2.621 | +13.6% | | - Overseas Markets | 1.942 | +28.6% | | **TOP TOY Brand** | **0.402** | **+87.0%** | | **Total** | **4.966** | **+23.1%** | - Gross margin increased year-over-year to **44.3%**, primarily benefiting from increased revenue contribution from overseas markets and higher gross margin for TOP TOY[22](index=22&type=chunk) - Selling and distribution expenses increased by **40.4%** year-over-year, mainly due to the company's investment in direct-operated stores to drive future growth, particularly in strategic overseas markets like the United States[22](index=22&type=chunk) - Profit for the period was **RMB 0.490 billion**, compared to RMB 0.591 billion in the prior year period. The decrease was primarily impacted by non-operating factors such as the share of loss from Yonghui and increased finance costs. Adjusted net profit increased by **10.6%** year-over-year to **RMB 0.692 billion**[26](index=26&type=chunk)[27](index=27&type=chunk) [Half-Year Financial Results (For the Six Months Ended June 30, 2025)](index=9&type=section&id=Half-Year%20Financial%20Results) H1 2025 total revenue grew robustly by 21.1%, with MINISO's overseas business (+29.4%) and TOP TOY (+73.0%) as key growth engines. Gross margin reached a historical high for the first half at 44.3%. Similar to the quarterly performance, investments in direct-operated stores led to a significant increase in selling expenses, while losses from the Yonghui investment and costs related to equity-linked securities impacted net profit Half-Year Revenue Breakdown | Brand/Region | Revenue (RMB billion) | YoY Growth | | :--- | :--- | :--- | | **MINISO Brand** | **8.649** | **+18.1%** | | - China Mainland | 5.115 | +11.4% | | - Overseas Markets | 3.534 | +29.4% | | **TOP TOY Brand** | **0.742** | **+73.0%** | | **Total** | **9.393** | **+21.1%** | - Gross margin reached **44.3%**, a historical high for the first half, increasing by **0.6 percentage points** year-over-year[33](index=33&type=chunk) - Profit for the period was **RMB 0.906 billion**, compared to RMB 1.177 billion in the prior year period. Adjusted net profit was **RMB 1.279 billion**, compared to RMB 1.242 billion in the prior year period[37](index=37&type=chunk) [Financial Statements and Reconciliations](index=16&type=section&id=Financial%20Statements%20and%20Reconciliations) [Unaudited Condensed Consolidated Financial Statements](index=16&type=section&id=Unaudited%20Condensed%20Consolidated%20Financial%20Statements) The report provides unaudited condensed consolidated statements of financial position and statements of profit or loss and other comprehensive income as of June 30, 2025. The statements of financial position show total assets significantly increased to RMB 26.65 billion due to items like the acquisition of Yonghui equity and derivative financial assets. The statements of profit or loss detail quarterly and half-year revenue, costs, expenses, and profit - As of June 30, 2025, the company's total assets were **RMB 26.65 billion**, a significant increase from RMB 18.12 billion at the end of 2024, primarily due to increases in non-current asset items such as 'interests in associates accounted for using the equity method' and 'derivative financial assets'[53](index=53&type=chunk) - Total liabilities increased from **RMB 7.76 billion** to **RMB 15.75 billion**, mainly due to new non-current loans and borrowings and derivative financial liabilities[55](index=55&type=chunk)[57](index=57&type=chunk) [Reconciliation of Non-IFRS Financial Measures](index=21&type=section&id=Reconciliation%20of%20Non-IFRS%20Financial%20Measures) This section provides a detailed reconciliation from profit for the period under IFRS to non-IFRS measures such as adjusted net profit and adjusted EBITDA. Key adjustments include excluding non-operating or non-cash items like share-based payment expenses, fair value changes of derivative instruments, and profit/loss and interest expenses related to specific investments (e.g., Yonghui) and financing activities, to better reflect core operating performance - Adjusted net profit primarily adds back equity-settled share-based payment expenses, fair value changes of derivative instruments, interest expenses related to equity-linked securities and loans for Yonghui equity acquisition, and share of loss from Yonghui[61](index=61&type=chunk) - Adjusted EBITDA further adds back depreciation and amortization, finance costs (excluding specific items), and income tax expense to adjusted net profit[63](index=63&type=chunk) [Supplemental Information](index=23&type=section&id=Supplemental%20Information) [Revenue and Store Count Details](index=23&type=section&id=Revenue%20and%20Store%20Count%20Details) This section provides detailed revenue breakdown by brand (MINISO, TOP TOY) and region (China Mainland, Overseas), along with MINISO brand store count details by city tier in China Mainland and by geographical region overseas, offering key data for in-depth analysis of the company's business structure and expansion strategy Quarterly and Half-Year Revenue Details (RMB thousand) | Brand/Region | Q2 2025 (RMB thousand) | YoY % | H1 2025 (RMB thousand) | YoY % | | :--- | :--- | :--- | :--- | :--- | | **MINISO Brand** | **4,563,226** | **19.5%** | **8,649,004** | **18.1%** | | - China Mainland | 2,621,212 | 13.6% | 5,114,987 | 11.4% | | - Overseas | 1,942,014 | 28.6% | 3,534,017 | 29.4% | | **TOP TOY Brand** | **402,208** | **87.0%** | **742,058** | **73.0%** | - As of June 30, 2025, among the **4,305** MINISO stores in China Mainland, third-tier and below cities had the highest number of stores, reaching **1,959**[69](index=69&type=chunk) - In overseas markets, Asia (excluding China) had the most MINISO stores with **1,695** locations; North America saw the fastest store growth, with a net increase of **160** stores year-over-year to **394**[71](index=71&type=chunk)

Core Insights - MINISO Group reported a revenue increase of 23.1% year over year to RMB4,966.1 million (US$693.2 million) for the June Quarter, exceeding previous guidance of 18%-21% [4][15] - The company achieved positive same-store sales growth (SSSG) after a previous contraction, with the MINISO brand's SSSG flat year over year and TOP TOY brand's SSSG growing at a low-single digit rate [4][11] - An interim dividend of US$0.2896 per ADS was announced, totaling approximately US$89.3 million (RMB639.5 million) [13] Financial Highlights for the June Quarter - Operating profit increased by 11.3% year over year to RMB836.2 million (US$116.7 million) [4][21] - Adjusted net profit rose by 10.6% year over year to RMB691.5 million (US$96.5 million), with an adjusted net margin of 13.9% [4][26] - Gross margin improved to 44.3%, up from 43.9% in the same period last year [4][18] Financial Highlights for the First Half of 2025 - Total revenue for the first half increased by 21.1% year over year to RMB9,393.1 million (US$1,311.2 million) [29] - Adjusted EBITDA grew by 11.2% year over year to RMB2,186.8 million (US$305.3 million), with an adjusted EBITDA margin of 23.3% [40] - Cash position as of June 30, 2025, was RMB7,466.1 million (US$1,042.2 million), compared to RMB6,698.1 million at the end of 2024 [42] Operational Highlights - The total number of stores increased to 7,905 as of June 30, 2025, representing a year-over-year increase of 842 stores [10] - The number of TOP TOY stores reached 293, marking a year-over-year increase of 98 stores [10] - 74.5% of new MINISO stores opened in the past year were located in overseas markets, indicating a strategic focus on global expansion [8] Recent Developments - TOP TOY brand revenue surged by 87.0% to RMB402.2 million (US$56.1 million) in the June Quarter, driven by strong performance in pop toy products [11][16] - The company is optimistic about future growth, particularly in overseas markets, following strategic investments in directly operated businesses [11][12]