Quarterly results in brief
Miniso Group Holding Ltd reported first-quarter revenue of 5.69 billion yuan, topping the average analyst estimate of 5.56 billion yuan. The result was driven primarily by the company's Miniso-branded business, which accounted for most of the group top line.
Brand-level performance
The Miniso brand generated 5.17 billion yuan in revenue for the quarter, ahead of the 4.89 billion yuan analysts expected. By contrast, the group's TOP TOY segment recorded revenue of 514.5 million yuan, missing the consensus estimate of 564.1 million yuan.
Profitability and earnings per ADR
On an adjusted basis, Miniso reported operating profit of 755.5 million yuan, below the analyst estimate of 911 million yuan. Adjusted net income for the quarter totaled 550.6 million yuan, compared with the 567 million yuan analysts had forecast. Adjusted earnings per American depositary receipt came in at 1.80 yuan, short of the estimated 2.69 yuan.
Store footprint
At the end of the quarter, Miniso operated 8,210 Miniso stores. That figure was below the market estimate of 8,398 stores, indicating that the company ended the period with fewer locations than analysts had projected.
What the numbers show
The quarter delivered a positive revenue surprise at the group level and at the Miniso brand, while profitability metrics and same-period store presence fell short of analyst expectations. Revenue strength concentrated in the Miniso brand was offset by weaker TOP TOY revenue and lower-than-expected adjusted operating profit, adjusted net income and adjusted EPS. The company’s store count also trailed the consensus estimate.
Data table (reported vs. analyst estimate)
- Total revenue: 5.69 billion yuan (vs. estimate 5.56 billion yuan)
- Miniso brand revenue: 5.17 billion yuan (vs. estimate 4.89 billion yuan)
- TOP TOY revenue: 514.5 million yuan (vs. estimate 564.1 million yuan)
- Adjusted operating profit: 755.5 million yuan (vs. estimate 911 million yuan)
- Adjusted net income: 550.6 million yuan (vs. estimate 567 million yuan)
- Adjusted EPS per ADR: 1.80 yuan (vs. estimate 2.69 yuan)
- Total Miniso stores at quarter end: 8,210 (vs. estimate 8,398)
Note on limitations
The report contains only the figures above; it does not include additional commentary from company management, forward guidance, or other operating metrics beyond those reported for the quarter.