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MINISO Group Holding (MNSO) investor relations material
MINISO Group Holding Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Global store count reached 7,905 as of June 30, 2025, with strong expansion in both China and overseas markets.
Revenue for Q2 2025 was RMB 4,966 million, up 23.1% year-over-year; H1 2025 revenue reached RMB 9,393 million, up 21.1%.
Adjusted net profit for H1 2025 was RMB 1,279 million, with an adjusted net margin of 13.6%.
Gross profit margin improved to 44.3% in Q2 2025.
Announced unaudited financial results for the June 2025 quarter and interim period.
Financial highlights
Q2 2025 revenue grew 23.1% year-over-year to RMB 4,966 million.
Adjusted operating profit margin was 17.2%, down 2.3 percentage points year-over-year.
Adjusted EBITDA margin for H1 2025 was 23.3%.
Mainland China revenue grew 13.6% year-over-year; overseas revenue grew 28.6%.
TOP TOY segment revenue surged 87% year-over-year in Q2 2025.
Outlook and guidance
Q3 2025 revenue expected to grow 25–28% year-over-year, with full-year guidance updated to ~25% YoY growth.
Adjusted operating profit for FY 2025 guided at RMB 3.65–3.85 billion.
Management expects sequential improvement in operating profit margin and narrowing year-over-year declines in H2.
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