Financial Performance - The total revenue of Miniso Group for Q3 2025 reached nearly 5.8 billion RMB, representing a year-on-year growth of 28% [2] - Revenue from the Miniso brand was 5.22 billion RMB, up 23% year-on-year, while TOP TOY brand revenue hit 570 million RMB, marking a record high for a single quarter with a growth of 111% [2][3] - The gross profit for the quarter was 2.59 billion RMB, reflecting a 28% increase, with a gross margin of 44.7% [3] - Adjusted net profit (Non-IFRS) was 770 million RMB, a 12% increase year-on-year, with an adjusted net profit margin of 13.2% [3] Store Expansion - As of the end of the quarter, Miniso Group's global store count surpassed 8,000, with 4,407 stores in mainland China and a net increase of 102 stores in the quarter [4] - The overseas store count reached 3,424, with a net increase of 117 stores during the same period [4] - The MINISO LAND flagship store model has been introduced in major cities such as Guangzhou, Hangzhou, Chongqing, and Wuhan, with 17 stores opened domestically [4] IP Development - Miniso has signed contracts with 16 trendy toy artists for IP operations, creating a diverse self-owned IP matrix [4] - The company is launching products related to its flagship IP, Zootopia, in anticipation of the upcoming release of Zootopia 2 [4] - The company aims to become a "global leading IP operation platform" and is focusing on the interest consumption sector to drive high-quality growth [4]

Group 1 - The core financial performance of Miniso Group for Q3 2025 shows total revenue of 5.8 billion yuan, a year-on-year increase of 28%, and adjusted net profit of 770 million yuan, up 12% year-on-year [1] - The company's strategy focuses on "opening good stores and large stores," entering a "large store-driven growth" phase, significantly boosting same-store revenue [1] - In Q3 2025, Miniso's brand revenue reached 5.22 billion yuan, a 23% increase year-on-year, with mainland China revenue at 2.91 billion yuan (up 19%) and overseas revenue at 2.31 billion yuan (up 28%) [1] Group 2 - The U.S. market, Miniso's largest overseas market, saw revenue growth of approximately 65% year-on-year in Q3, with same-store sales achieving double-digit growth [1] - The number of new members in the U.S. market has more than doubled in 2025 [1] - As of September 30, 2025, Miniso's global store network reached 7,831 locations, with 4,407 in mainland China (net increase of 102) and 3,424 overseas (net increase of 117) [1] Group 3 - Miniso's "Miniso Land" stores are expanding rapidly in global high-end cities and high-potential business districts, with 17 stores opened in China by Q3 [2] - The first overseas "Miniso Land" store opened in Bangkok, Thailand, marking a brand upgrade and new phase of globalization in Southeast Asia [2] - The subsidiary brand "Top Toy" reported strong growth with total revenue of 570 million yuan in Q3 2025, a 111% increase year-on-year, and a total of 307 global stores [2] Group 4 - Miniso's founder and CEO emphasized the company's core advantages in IP operations, category structure, and channel control, aiming to explore new growth patterns in the interest consumption sector [2]

Core Insights - Miniso Group reported strong financial performance for Q3 2025, with total revenue reaching 5.8 billion yuan, a year-on-year increase of 28% [2] - The company's brand revenue was 5.22 billion yuan, up 23% year-on-year, while TOP TOY brand revenue surged to 570 million yuan, reflecting a remarkable 111% growth [2] - Gross profit for the quarter was 2.59 billion yuan, with a gross margin of 44.7%, and adjusted net profit was 770 million yuan, marking a 12% year-on-year increase [2] Revenue and Sales Performance - The company's channel strategy of "opening good stores and large stores" has entered a "large store-driven growth" phase, significantly boosting same-store sales and revenue [3] - In Q3 2025, Miniso's brand revenue in mainland China was 2.91 billion yuan, achieving a 19% year-on-year growth, primarily driven by same-store sales [3] - The overseas market generated 2.31 billion yuan in revenue, a 28% increase year-on-year, with the U.S. market alone seeing a revenue growth of approximately 65% [3] Future Outlook and Strategy - Miniso aims to enhance its global presence and brand influence through TOP TOY, focusing on IP operations and product innovation [3][4] - The company is committed to becoming a "global leading IP operation platform," leveraging a diverse IP portfolio and comprehensive category structure [4] - The strategic upgrade aims to tap into the interest consumption sector, paving the way for high-quality growth [4]

Core Insights - Miniso Group (NYSE: MNSO, HKEX: 9896) reported a total revenue of 5.8 billion yuan for Q3 2025, representing a year-on-year growth of 28% [1] - The number of global stores surpassed 8,000, with same-store sales showing a mid-single-digit growth [1] Financial Performance - Total revenue for the group reached 5.8 billion yuan, marking a 28% increase compared to the previous year [1] - TOP TOY, a brand under Miniso, achieved a revenue of 570 million yuan in Q3 2025, a significant year-on-year increase of 111%, setting a new quarterly revenue record [1] Store Expansion - As of the end of September, TOP TOY's global store count increased to 307, with 15 of those located overseas [1] - The global store network continues to expand, enhancing the brand's market presence [1] Product Performance - The proprietary IP "Nommi" has been performing well globally, contributing significantly to revenue growth [1] - Both channel expansion and product operations have seen breakthroughs, driving overall performance [1]

名创优品(09896)发布公告，于2025年11月20日该公司斥资8.74万美元回购1.8万股，回购价格为每股 4.8325-4.8750美元。 ...

Core Insights - Miniso achieved a revenue of RMB 5.797 billion for the third quarter, marking a year-on-year increase of 28.17% [1] - The company's profit attributable to equity shareholders was RMB 441 million, a decrease of 31.36% year-on-year [1] - Adjusted net profit for the quarter was RMB 766.8 million, reflecting an increase of 11.7% year-on-year [1] Financial Performance - For the first nine months, Miniso reported a revenue of RMB 15.19 billion, up 23.68% year-on-year [1] - Profit attributable to equity shareholders for the nine months was RMB 1.347 billion, down 25.68% year-on-year [1] - Adjusted net profit for the nine months was RMB 2.0455 billion [1] - Basic earnings per share for the quarter were RMB 0.36, and for the nine months, it was RMB 1.1 [1] Operational Highlights - The CEO highlighted that the company achieved two significant milestones in the September quarter: quarterly revenue exceeding RMB 5 billion and surpassing 8,000 global stores [2] - In mainland China, the company saw a net increase of over 100 stores in the September quarter, with same-store sales showing high single-digit growth [2] - The company is on track to achieve positive same-store sales growth in mainland China for the full year of 2025 [2] International Performance - Same-store sales in overseas markets also showed improvement, with low single-digit growth in the September quarter [2] - The company expects overseas growth to be driven more by same-store sales, which are anticipated to be of higher quality and sustainability [2] - The operating profit margin for overseas direct operations has improved year-on-year, indicating stable enhancement in core operational capabilities [2] Cash Flow and Financial Health - The company reported a net operating cash flow of RMB 1.2996 billion for the quarter, with a cash flow to adjusted net profit ratio of 1.7 [3] - As of September 30, cash reserves stood at RMB 7.77 billion [3] - The net operating cash flow for the first nine months reached RMB 2.314 billion, exceeding the total adjusted net profit for the same period, showcasing strong financial health and effective working capital management [3]

Core Insights - Miniso Group (NYSE: MNSO; HKEX: 9896) reported a total revenue of 5.8 billion yuan for Q3 2025, representing a year-on-year growth of 28% [1] - The Miniso brand generated revenue of 5.22 billion yuan, up 23% year-on-year, while the TOP TOY brand saw a remarkable 111% increase in revenue to 570 million yuan [1] - The group's gross profit for the quarter was 2.59 billion yuan, with a gross margin of 44.7%, indicating strong business growth resilience and profitability [1] - Adjusted net profit (Non-IFRS) reached 770 million yuan, a 12% increase year-on-year, with an adjusted net profit margin of 13.2% [1] - As of the end of the quarter, Miniso Group surpassed 8,000 global stores, marking a significant milestone [1] - Same-store sales continued to improve, achieving mid-single-digit growth, characterized by higher quality and stronger sustainability [1]

智通财经APP讯，名创优品(09896)发布公告，于2025年11月20日该公司斥资8.74万美元回购1.8万股，回 购价格为每股4.8325-4.8750美元。 ...

Core Insights - MINISO Group reported a total revenue of 5.8 billion yuan for Q3 2025, representing a year-on-year growth of 28% [1] - The MINISO brand revenue reached 5.22 billion yuan, with a year-on-year increase of 23%, while the TOP TOY brand revenue surged to 570 million yuan, marking a significant growth of 111% [1] - The group's gross profit for the quarter was 2.59 billion yuan, also reflecting a year-on-year growth of 28%, with a gross margin of 44.7% [1] - Adjusted net profit (Non-IFRS) stood at 770 million yuan, up 12% year-on-year, resulting in an adjusted net profit margin of 13.2% [1] Store Expansion - As of the end of the reporting period, MINISO Group has surpassed 8,000 global stores [1] - The company is launching its upgraded store model, MINISO LAND, in key cities such as Guangzhou, Hangzhou, Chongqing, and Wuhan, with 17 locations opened domestically [1] - The first overseas MINISO LAND opened in Bangkok, Thailand, at Siam Square pedestrian street at the end of October [1] IP Development - By November 2025, MINISO has signed contracts with 16 trendy toy artist IPs, creating a diverse and rich proprietary IP matrix [1]

格隆汇11月21日丨名创优品(09896.HK)公告，11月20日耗资8.74万美元回购1.8万股，每股回购价4.8325- 4.875美元。 ...