MNSO(US:MNSO) Yahoo Finance·2025-11-21 13:40Core Insights - Miniso reported Q3 2025 sales of 5.79 billion yuan ($814.3 million), marking a 28% increase year-on-year, surpassing the company's guidance of 25% to 28% growth [1][5] Financial Performance - Same-store sales growth (SSSG) improved across all operating segments, achieving mid-single digit growth for the group [1] - For the Miniso brand, SSSG was in the mid-single digit range, driven by high-single-digit growth in mainland China and low-single-digit growth internationally [2] - Gross profit rose 27.6% year-on-year to 2.59 billion yuan, with a gross margin of 44.7%, slightly down from 44.9% a year earlier [2] - Operating profit was 846.6 million yuan, slightly below the previous year's 852.6 million yuan, but adjusted operating profit increased 14.8% year-on-year to 1.02 billion yuan, with an adjusted operating margin of 17.6% [3] - Profit for the period decreased to 443.2 million yuan from 648.3 million yuan a year earlier, while adjusted net profit rose 11.7% to 766.8 million yuan [3] - Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) reached 1.35 billion yuan, up 18.8% year-on-year [3] Cash Flow and Expansion - Net cash generated from operating activities was 1.29 billion yuan, resulting in an operating cash flow to adjusted net profit ratio of 1.7 [4] - Miniso expanded its store network to 8,138 locations as of September 30, 2025, with a net addition of 718 stores over the past year [4] - The Miniso brand accounted for 7,831 stores, reflecting an increase of 645 net new locations year-on-year [4] - The Top Toy network grew to 307 stores, with a net addition of 73 stores during the same period [5] Strategic Goals - The CEO of Miniso expressed satisfaction with achieving significant milestones, including quarterly revenue surpassing 5 billion yuan for the first time and exceeding 8,000 global store counts [5] - The company aims for full-year positive SSSG for Miniso mainland China in 2025 [5]