MINISO Q1 Revenue Rises 28.5% to RMB5.69B, Net Profit Up 199.7%
MNSO•MINISO Group’s Q1 revenue climbed 28.5% to RMB5,688.4 million, operating profit soared 114.3% to RMB1,521.4 million with a 26.7% margin, and net profit jumped 199.7% to RMB1,248.1 million. Total store count rose by 797 year-over-year to 8,565 outlets, including 4,593 in Chinese mainland and 3,617 overseas.
1. Q1 Financial Results
MINISO delivered RMB5,688.4 million in Q1 revenue, up 28.5% year-over-year, with gross profit rising 25.8% to RMB2,464.0 million. Operating profit surged 114.3% to RMB1,521.4 million (26.7% margin), profit for the period rose 199.7% to RMB1,248.1 million (21.9% margin), and adjusted net profit ex-FX grew 8.1% to RMB633.1 million (11.1% margin).
2. Store Network Expansion
As of March 31, total stores reached 8,565, a net increase of 797 over the prior year. The MINISO brand counted 8,210 outlets—4,593 in Chinese mainland and 3,617 overseas—while TOP TOY stores expanded to 355 locations globally.
3. Shareholder Returns and Capital Strategy
In April and May 2026, the company distributed US$115.8 million in cash dividends, bringing total shareholder returns to RMB6.2 billion since its 2020 U.S. IPO. Management views shares as undervalued and plans opportunistic share repurchases while maintaining disciplined cost control.
4. Outlook and Strategic Priorities
MINISO will deepen its globalization and IP-driven strategies by optimizing product mix, expanding and upgrading its store network, and leveraging a multi-dimensional IP matrix to sustain high-quality growth toward long-term objectives.
