MINISO Group Reports Impressive Growth for September Quarter 2025

MINISO Group Reports Outstanding Financial Performance for September Quarter 2025

MINISO Group Holding Limited has released its financial results for the September quarter and the first nine months of 2025, showing significant growth across its operations. The company, known for its trendy lifestyle products, witnessed a remarkable 28.2% increase in revenue year-over-year, totaling RMB 5,796.6 million (approximately US$814.3 million). This result exceeded the upper range of its previous guidance, which predicted a growth rate between 25% and 28%.

The strong performance was primarily fueled by a mid-single-digit increase in same-store gross merchandise value (GMV) for the quarter, which reflects the growing consumer demand across MINISO's stores. The brand's same-store sales growth in mainland China reached an exceptional high-single-digit growth, complemented by a solid low-single-digit growth in overseas markets. Additionally, the popular TOP TOY brand recorded an impressive 111.4% growth in revenue, marking a new quarterly record for the brand.

In terms of operational expansion, MINISO opened a total of 102 new stores in mainland China during the quarter, a testament to the brand's continuing appeal and strategic growth initiatives. The total number of MINISO stores worldwide has now surpassed the 8,000 mark, reaching 8,138 stores as of September 30, 2025, an increase of 718 from the previous year.

The company's gross profit for the quarter increased to RMB 2,590.1 million (US$363.8 million), representing a gross margin of 44.7%. This figure demonstrates MINISO's ability to maintain strong profitability despite rising costs in sales and distribution expenses, which rose by 43.5% year-over-year due to increased investments in directly operated stores, particularly in strategic international markets, including the United States.

Moreover, MINISO's operating profit stood at RMB 846.6 million (US$118.9 million) for the quarter, slightly below last year's figures due to rising operational costs. However, adjusted operating profit rose by an impressive 14.8% year-over-year to RMB 1,022.3 million (US$143.6 million), reflecting a healthy operational efficiency with an adjusted operating margin of 17.6%.

The profit for the period was RMB 443.2 million (US$62.3 million), a decline compared to RMB 648.3 million from the same period last year. This decline can be attributed to increased finance costs and losses from equity-accounted investees, notably from the company's share of losses associated with Yonghui Superstores.

In terms of cash flow, MINISO reported a net cash from operating activities of RMB 1,299.6 million (US$182.6 million), showcasing robust operating performance with a cash flow to adjusted net profit ratio of 1.7. The company maintained a strong cash position, ending the quarter with RMB 7,766.2 million (US$1,090.9 million).

For the first nine months of 2025, the company reported a revenue increase of 23.7% year-over-year, reaching RMB 15,189.8 million (US$2,133.7 million), further solidifying its strategy for growth and expansion both domestically and internationally. Overall, MINISO's performance exemplifies its resilience and adaptability in a competitive retail landscape, underscoring its commitment to delivering quality products and continuous improvement in customer experience. The strong metrics from the September quarter indicate a promising trajectory as the company heads toward its goals for the remainder of the year and beyond.

In summary, MINISO's impressive financial results not only reflect its successful strategies but also set a solid foundation for future growth and innovation within the value retail sector. As 2025 progresses, MINISO Group appears well-positioned to capitalize on emerging market opportunities and consumer trends, leveraging its brand presence and expanding sales network worldwide.