MINISO Group Announces September Quarter and First Nine Months of 2025 Unaudited Financial Results

Core Insights - MINISO Group reported a significant revenue increase of 28.2% year over year, reaching RMB5,796.6 million (US$814.3 million) in the September Quarter, surpassing previous guidance [4][14] - The company achieved a milestone of over 8,000 stores globally, with a net addition of 718 stores year over year [12][10] - TOP TOY brand experienced remarkable growth, with revenue increasing by 111.4% year over year [12][15] Financial Highlights for the September Quarter - Gross profit rose by 27.6% year over year to RMB2,590.1 million (US$363.8 million), with a gross margin of 44.7% [4][16] - Adjusted operating profit increased by 14.8% year over year to RMB1,022.3 million (US$143.6 million), with an adjusted operating margin of 17.6% [20][4] - Adjusted net profit grew by 11.7% year over year to RMB766.8 million (US$107.7 million), with an adjusted net margin of 13.2% [25][26] Financial Highlights for the First Nine Months - Total revenue for the first nine months increased by 23.7% year over year to RMB15,189.8 million (US$2,133.7 million) [28] - Adjusted EBITDA rose by 14.0% year over year to RMB3,540.6 million (US$497.3 million), with an adjusted EBITDA margin of 23.3% [37][30] - Cash position improved to RMB7,766.2 million (US$1,090.9 million) as of September 30, 2025, compared to RMB6,698.1 million at the end of 2024 [39][40] Operational Highlights - The number of MINISO stores reached 7,831 as of September 30, 2025, with a year-over-year increase of 645 stores [10][9] - In mainland China, the number of MINISO stores increased to 4,407, representing a net addition of 157 stores [10][9] - The overseas store count reached 3,424, with a net increase of 488 stores year over year [10][9] Management Commentary - The CEO highlighted the strong performance in mainland China, with high-single-digit same-store sales growth (SSSG) and over 100 net new stores added in the quarter [12] - The CFO noted that the year-over-year revenue growth exceeded expectations, and the company demonstrated solid financial health with strong operating cash flow [13]