报告期内，集团总营收近58亿元，同比增长28%，其中名创优品品牌营收52.2亿元，同比增长23%； TOP TOY品牌营收5.7亿元，创单季度营收新高，同比增长111%，全球门店达30家。 | In and IDE was you can be says. I'd Dr. and | | | 未經審計額外資料 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | (以千元呈列,属百分比外) | | | | | | | | | | 截至9月30日止三個月 | | | | | | 截至9月30日止九個月 | | | | 同比 | 2024年 | 2025年 | | | 2024年 | 2025年 | | 同比 | | 人民幣千元 人民幣千元 | | | 千美元 | | | 人民幣千元 人民幣千元 | 千美元 | | | 吸入 | | | | | | | | | | 名創優品品牌 | 4.249.307 | 5,221,476 | 733,456 | 22.9% | 11.573.972 | 13,870,480 | 1,948, ...

Core Insights - The opening of MINISO FRIENDS in Shenzhen marks a significant step in creating a new consumption driver among young people through immersive IP experiences [1][3][5] - The store aims to integrate retail, experience, and social interaction, establishing itself as a new landmark for youth culture in Shenzhen [3][5] Group 1: Store Concept and Design - MINISO FRIENDS is positioned as a "mini IP paradise," focusing on a "small yet exquisite" business model that creates a strong IP atmosphere within a limited space [3][5] - The store features over 70 IP series and more than 4,000 SKUs, with IP products accounting for over 80% of the offerings, providing an immersive experience for consumers [3][5] Group 2: Consumer Engagement and Experience - The store's design includes unique thematic elements from popular IPs like Disney and Harry Potter, enhancing the consumer's exploration experience [3][5] - The opening day saw a high volume of visitors, indicating the store's strong appeal as a new consumption hub for young families and trend enthusiasts [3][5] Group 3: IP Strategy and Brand Development - The store emphasizes the self-owned IP "Right Right Sauce," creating a distinctive atmosphere that fosters emotional connections with consumers [5][7] - MINISO aims to build a global leading IP operation platform by combining top-tier licensed IPs with exclusive self-owned IPs, expanding its IP ecosystem [5][7] Group 4: Business Model and Market Positioning - The successful launch of MINISO FRIENDS signifies a replicable business model for new store formats like MINISO LAND and MINISO FRIENDS [7] - The differentiated positioning of "mini IP paradise" allows MINISO FRIENDS to strategically enter high-quality commercial projects, enhancing brand presence in urban trend centers [7]

Core Insights - The core viewpoint of the article is that Miniso aims to transform from a retail company into a cultural and creative company by acquiring and signing numerous Chinese intellectual properties (IPs) to become a leading global IP operation platform [1] Company Strategy - Miniso's founder and CEO, Ye Guofu, announced the company's new vision to become a global leader in IP operations, moving beyond its traditional retail identity [1] - The company has already signed exclusive agreements with 17 artist IPs and plans to promote cultural creators in China to generate new IPs annually [1] Market Expansion - Miniso intends to leverage its nearly 8,000 global stores to sell these new IPs, which also serves as a form of cultural export [1] - Ye Guofu expressed confidence that Chinese culture and IPs will be on par with those from Japan and the United States in the future [1]

Core Viewpoint - The founder and CEO of Miniso, Ye Guofu, aims to transform the company from a retail-focused entity into a cultural and creative company, with a vision to become a leading global IP operation platform [1] Company Strategy - Miniso plans to boldly acquire and sign contracts with numerous Chinese intellectual properties (IPs) to enhance its cultural offerings [1] - The company has already signed exclusive agreements with 17 artist IPs and aims to promote new cultural creators in China [1] Global Expansion - With nearly 8,000 stores worldwide, Miniso intends to leverage its global presence to sell these cultural products, contributing to cultural output [1] - Ye Guofu expresses confidence that Chinese culture and IPs will be on par with those from Japan and the United States in the future [1]