Miniso Group (9896) announced its first-quarter net profit tripled year-on-year to 1.25 billion yuan (HK$1.44 billion), driven by strong mainland China sales.
However, adjusted net profit attributable to equity shareholders of the company slipped 5.9 percent year-on-year to 552 million yuan. The overall revenue saw a 28.5 percent jump to 5.69 billion yuan.
The group's revenue growth was spearheaded by its mainland China market, which saw a 29.6 percent year-on-year jump, marking the fifth consecutive quarter of accelerated growth since the first quarter of 2025 on the back of mid-single-digit same-store sales growth. Meanwhile, overseas revenue increased by 21.9 percent.
Its pop toy brand, TOP TOY, sustained its robust growth momentum, recording a 51.4 percent year-on-year revenue increase.
As of March 31, 2026, the company’s total store network expanded to 8,565 locations, representing a net increase of 797 stores year-on-year and 80 stores year-to-date. Within the network, the TOP TOY brand expanded to 355 stores, up 75 locations from the previous year.
"Moving forward, we will continue to exercise disciplined cost control and prudent budgeting, balancing both growth and our commitment to bringing stable and foreseeable returns to shareholders," said Eason Zhang, chief financial officer of MINISO.
