MINISO (NYSE: MNSO) posts positive Q1 2026 profit alert with sharp gains
Rhea-AI Filing Summary
MINISO Group Holding Limited expects very strong results for the quarter ended March 31, 2026. Based on preliminary unaudited figures, the Group forecasts revenue of about RMB5,678–5,728 million, up roughly 28–29% year over year, and operating profit of about RMB1,511–1,531 million, up about 113–116%.
Profit for the period is estimated at roughly RMB1,228–1,248 million, an increase of about 195–200% year over year, largely driven by an unrealized mark-to-market gain of RMB870–880 million from a limited partnership investment focused on early stage strategic pre-IPO AI opportunities and an estimated RMB78 million equity pick-up from Yonghui. Adjusted operating profit excluding foreign exchange is projected at RMB829–849 million, up about 13–16%, and adjusted net profit at RMB624–644 million, up about 7–10%.
The Board plans to approve the unaudited 26Q1 results at a meeting on May 26, 2026, followed by an earnings conference call on the same day, with details and replay access provided via Zoom dial-ins and the Company’s investor relations website.
Positive
- Headline profit growth is extremely strong, with profit for the period projected to rise about 195–200% year over year in 26Q1 and revenue increasing about 28–29%.
Negative
- Earnings quality is influenced by large non-core items, including an estimated RMB870–880 million unrealized fair value gain from an AI-focused limited partnership and other adjustments, while adjusted net profit is expected to grow a more modest 7–10%.
Insights
MINISO flags very strong 26Q1 profit, boosted by investment gains.
MINISO indicates robust 26Q1 growth, with revenue up about 28–29% year over year and profit for the period up about 195–200%. Operating profit is projected to more than double, supported by strong underlying performance and significant non-operating contributions.
A key driver is an unrealized mark-to-market gain of roughly RMB870–880 million from a limited partnership that mainly backs early stage strategic pre-IPO investments in the AI industry, plus about RMB78 million equity pick-up from its Yonghui stake and the absence of a prior one-off derivative issuance cost. These items substantially amplify headline profit.
The company’s adjusted metrics, which exclude foreign exchange and several financing and valuation items, show more moderate growth: adjusted operating profit is expected to rise about 13–16% and adjusted net profit about 7–10% year over year. Final audited figures and more detail are scheduled to be considered at the Board meeting on May 26, 2026, followed by the same-day earnings call.
Key Figures
Key Terms
positive profit alert financial
adjusted operating profit financial
Equity Linked Securities financial
redemption liabilities financial
Inside Information Provisions regulatory
Earnings Snapshot
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of May 2026
Commission File Number: 001-39601
MINISO Group Holding Limited
8F, M Plaza, No. 109, Pazhou Avenue
Haizhu District, Guangzhou 510000, Guangdong Province
The People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Exhibit Index
Exhibit 99.1— Announcement with the Stock Exchange of Hong Kong Limited — Positive Profit Alert in Relation to the Quarter Ended March 31, 2026 and Date of Board Meeting
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| MINISO Group Holding Limited | |||
| By | : | /s/Jingjing Zhang | |
| Name | : | Jingjing Zhang | |
| Title | : | Chief Financial Officer | |
Date: May 14, 2026
Exhibit 99.1
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
MINISO Group Holding Limited
名 創 優 品 集 團 控 股 有 限 公 司
(A company incorporated in the Cayman Islands with limited liability)
(Stock Code: 9896)
POSITIVE PROFIT ALERT IN RELATION
TO THE QUARTER
ENDED MARCH 31, 2026 AND DATE OF BOARD MEETING
This announcement is made by MINISO Group Holding Limited (the “Company”, and together with its subsidiaries, the “Group”) in accordance with Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”) and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the laws of Hong Kong).
The board (the “Board”) of directors (the “Directors”) of the Company wishes to inform the Company’s shareholders (the “Shareholders”) and potential investors that based on a preliminary review and assessment of the unaudited consolidated management accounts for the quarter ended March 31, 2026 (“26Q1”), the Group expects to record (i) a revenue of approximately RMB5,678 million to RMB5,728 million, an increase of approximately 28% to 29% year over year, (ii) an operating profit of approximately RMB1,511 million to RMB1,531 million, an increase of approximately 113% to 116% year over year, and (iii) a profit for the period of approximately RMB1,228 million to RMB1,248 million, an increase of approximately 195% to 200% year over year.
1
The Group’s estimated consolidated operational results for 26Q1 are as follows:
| For the quarter ended March 31, | Estimated | |||||||
| 2026 | 2025 | year-over- | ||||||
| Item | (Unaudited) | (Unaudited) | year change | |||||
| RMB million | RMB million | % | ||||||
| Revenue | Ranging from 5,678 to 5,728 | 4,427 | 28 to 29 | |||||
| Operating profit | Ranging from 1,511 to 1,531 | 710 | 113 to 116 | |||||
| Adjusted operating profit excluding foreign exchange gain or loss | Ranging from 829 to 849 | 733 | 13 to 16 | |||||
| Profit for the period | Ranging from 1,228 to 1,248 | 416 | 195 to 200 | |||||
| Adjusted net profit excluding foreign exchange gain or loss | Ranging from 624 to 644 | 586 | 7 to 10 | |||||
The increase of operating profit for 26Q1 was mainly driven by an unrealized mark-to-market gain of RMB870 million to RMB880 million arising from fair value changes of an investment in a limited partnership, primarily attributable to its early stage strategic pre-IPO investment in the AI industry, and is partially offset by the following factors: (i) higher equity-settled share-based payment expenses related to TOP TOY compared with the prior-year period; and (ii) net foreign exchange loss, reversing the net foreign exchange gain recorded in the same period last year.
The increase of profit for the period for 26Q1 was primarily attributable to the following factors: (i) the unrealized mark-to-market gain from fair value changes of an investment in a limited partnership investing in AI industry mentioned above; (ii) approximately RMB78 million equity pick-up from its investment in Yonghui Superstores Co., Ltd (永輝超市股份有限公司) (“Yonghui”); and (iii) the absence of the one-off derivative issuance cost on the equity linked securities issued in 2025 (the “Equity Linked Securities”) recorded in the prior-year period. Such positive contributions were partially offset by the following factors: (i) higher equity-settled share-based payment expenses related to TOP TOY compared with the prior-year period; (ii) net foreign exchange loss, reversing the net foreign exchange gain recorded in the same period last year; (iii) a loss arising from changes in fair value of redemption liabilities arising from preferred shares issued by TOP TOY in connection with its strategic financing in 2025; and (iv) a year-over-year increase in interest expenses related to the Equity Linked Securities and bank loans used for acquisition of the equity interest of Yonghui.
The Company estimates to record (i) adjusted operating profit excluding foreign exchange gain or loss of approximately RMB829 million to RMB849 million, an increase of approximately 13% to 16% year over year; and (ii) adjusted net profit excluding foreign exchange gain or loss of approximately RMB624 million to RMB644 million, an increase of approximately 7% to 10% year over year.
2
We define adjusted operating profit as operating profit for the period excluding equity-settled share-based payment expenses and gain or loss from fair value changes of an investment in a limited partnership investing in AI industry, and adjusted net profit as profit for the period excluding the following items: (i) equity-settled share-based payment expenses; (ii) gain or loss from fair value changes of derivatives; (iii) issuance cost of derivatives; (iv) interest expenses related to the Equity Linked Securities and interest expenses related to the bank loans used for acquisition of the equity interest in Yonghui; (v) changes in fair value of redemption liabilities arising from preferred shares; (vi) share of profit or loss of Yonghui, net of tax; and (vii) gain or loss from fair value changes of an investment in a limited partnership investing in AI industry. Further details of the non-IFRS financial measures will be made available in its earnings release to be published by the Company.
As the Company is still in the process of preparing and finalizing its results for 26Q1, the information contained in this announcement is only based on the preliminary review and assessment of the unaudited consolidated management accounts and is not based on any financial data or other information that has been audited or reviewed by the Company’s independent auditor or the audit committee of the Board. The above data may therefore differ from the figures to be disclosed in the unaudited consolidated financial statements to be published by the Company. Accordingly, the above figures are strictly for information only and not for any other purposes.
Shareholders and potential investors of the Company are advised not to place undue reliance on the information disclosed herein and to exercise caution when dealing in the securities of the Company. Any Shareholder or potential investor who is in doubt is advised to seek advice from professional advisers.
DATE OF BOARD MEETING
The Board hereby announces that a meeting of the Board will be held on Tuesday, May 26, 2026, for the purpose of considering and approving, inter alia, the unaudited financial results of the Company for 26Q1 and its publication.
The Company’s management will hold an earnings conference call at 5:00 A.M. Eastern Time on Tuesday, May 26, 2026 (5:00 P.M. Beijing Time on the same day) to discuss the financial results. Simultaneous interpretation in English will be provided during the conference call. The conference call can be accessed via the following methods:
Access 1
Join Zoom meeting.
Zoom link: https://zoom.us/j/95725759937?pwd=eaZoICKP3u9Oc6bDEr7aBtpGzzvJ8K.1
Meeting Number: 957 2575 9937
Meeting Passcode: 9896
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Access 2
Listeners may access the call by dialing the following numbers and using the same meeting number and passcode as access 1.
| United States: | +1 689 278 1000 (or +1 719 359 4580) |
| Hong Kong, China: | +852 5803 3730 (or +852 5803 3731) |
| United Kingdom: | +44 203 481 5237 (or +44 131 460 1196) |
| France: | +33 1 7037 9729 (or +33 1 7037 2246) |
| Singapore: | +65 3158 7288 (or +65 3165 1065) |
| Canada: | +1 438 809 7799 (or +1 204 272 7920) |
Access 3
Listeners can also access the meeting through the Company’s investor relations website at https://ir.miniso.com/.
The replay will be available approximately two hours after the conclusion of the live event at the Company’s investor relations website at https://ir.miniso.com/.
| By Order of the Board | |
| MINISO Group Holding Limited | |
| Mr. YE Guofu | |
| Executive Director and Chairman |
Hong Kong, May 13, 2026
As of the date of this announcement, the Board comprises Mr. YE Guofu as executive Director, and Ms. XU Lili, Mr. ZHU Yonghua and Mr. WANG Yongping as independent non-executive Directors.
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