MINISO Group (ADR)
Sells fast-refreshed lifestyle, beauty and toy assortments through MINISO and TOP TOY.
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Profile
Sells lifestyle, beauty and toy products through the MINISO retail brand and TOP TOY pop-toy platform. Frequent assortment refreshes and IP-based designs support sales through directly operated stores, retail partners and distributors in China and overseas.
MINISO sells lifestyle, beauty and toy products under the MINISO brand, while TOP TOY focuses on pop toys such as model figures, 3D building blocks and vinyl plush toys. New assortments combine in-house product work with collaborations involving IP licensors and independent artists.
Sales reach consumers through directly operated stores, retail partners and distributors. The business spans China and overseas markets, with MINISO operating in both and TOP TOY forming a separate brand platform.
Product managers work with designers and suppliers to identify trends and refresh the offering. Execution depends on continued product development, access to compelling IP and the store, partner and distributor network.
Company facts
Key statistics
Year to date −47.0% · Average volume (30d) 735.1K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Nov 25, 2025 | Deutsche Bank | Target | $23 | |||
| Nov 24, 2025 | Jefferies | Target | $26.20 | $21.70 | ||
| Aug 22, 2025 | Jefferies | Upgrade | Hold | Buy | ||
| Mar 25, 2025 | JP Morgan | Upgrade | Neutral | Overweight | ||
| Sep 24, 2024 | JP Morgan | Downgrade | Overweight | Neutral |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 28, 2026 | $0.31 | $0.26 | −16.1% | $852.7M | $847.0M | −0.7% | −4.44% |
| May 26, 2026Q1 FY26 | $0.27 | −$0.07 | −125.3% | $873.6M | $894.1M | +2.3% | −3.78% |
| May 22, 2026Q1 FY26 | $0.24 | $0.59 | +148.3% | $805.6M | $824.4M | +2.3% | −4.21% |
| Nov 20, 2025Q3 FY25 | $0.36 | $0.35 | −3.9% | $860.1M | $113.7M | −86.8% | −0.10% |
Financial highlights
| 12 quarters | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $701.2M | $658.7M | $738.9M | $862.5M | $917.7M | $841.3M | |
| Gross profit | $329.9M | $291.3M | $327.2M | $385.4M | $425.7M | $364.4M | |
| Operating income | $142.3M | $102.5M | $116.1M | $120.9M | $125.6M | $102.6M | |
| Net income | $119.9M | $61.9M | $72.9M | $65.5M | −$20.8M | $185.0M | |
| Diluted EPS | $0.39 | $0.20 | $0.24 | $0.21 | −$0.07 | $0.61 | |
| Gross margin | 47.0% | 44.2% | 44.3% | 44.7% | 46.4% | 43.3% | |
| Operating margin | 20.3% | 15.6% | 15.7% | 14.0% | 13.7% | 12.2% |
Fiscal years (4-quarter sums)FY21 $1.51B · FY22 $1.48B · FY23 $2.06B · FY24 $2.53B · FY25 $3.18B
Revenue by product · FY25
Revenue by geography · FY25
Balance sheet, Mar 31, 2026Cash & short-term investments $1.04B · Total debt $1.71B · Total assets $4.41B · Shareholders' equity $1.63B
Dividends
Last raised to $0.3764 from $0.2896 in Apr 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Apr 20, 2026 | Apr 20 | May 4 | $0.3764 | raised from $0.2896 |
| Sep 5, 2025 | Sep 5 | Sep 19 | $0.2896 | cut from $0.3268 |
| Apr 8, 2025 | Apr 8 | Apr 23 | $0.3268 | raised from $0.2744 |
| Sep 13, 2024 | Sep 13 | Sep 26 | $0.2744 | cut from $0.412 |
| Mar 27, 2024 | Mar 28 | Apr 12 | $0.29 | special dividend |
| Sep 6, 2023 | Sep 7 | Sep 22 | $0.412 | raised from $0.156 |
| Aug 30, 2022 | Aug 31 | Sep 14 | $0.172 | special dividend |
| Aug 30, 2021 | Aug 31 | Sep 9 | $0.156 |
Ownership
Shares outstanding 305.13M · Float —
Float — provider float is below the insider stake.
Insiders — filings are in the shares behind the receipt.
This listing is a depositary receipt and the Form 4 positions here are filed in the shares behind it, a different unit from the share count and in a ratio the filings never state, so no insider percentage is shown.
The provider's float is smaller than the insider stake it should exclude, so it is not shown.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Guofu Ye | 789.54M | 63.80% | 13G | Feb 6, 2026 |
| Norges Bank | 62.50M | 5.00% | 13G | Jul 31, 2025 |
| Serenity Capital Management Pte. Ltd. | 2.14M | 0.70% | 13F | Aug 10, 2026 |
| Marshall Wace, LLP | 1.57M | 0.51% | 13F | Aug 13, 2026 |
| Point72 Asset Management, L.P. | 1.11M | 0.36% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 29, 2026 | Guofu Ye | director, officer: Chief Executive Officer | +1,950,000 | $3.28 |
| Jun 1, 2026 | Guofu Ye | director, officer: Chief Executive Officer | +150,000 | $3.35 |
| May 29, 2026 | Yunyun (Alice) Yang | officer: Vice President | +1,950,000 | $3.28 |
| Jun 1, 2026 | Yunyun (Alice) Yang | officer: Vice President | +150,000 | $3.35 |
Peers
- Five Below
Value-led leisure, fashion, and home assortments overlap
- Dollar Tree
Value-variety retail competes for everyday and seasonal baskets
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| MINISO Group (ADR) | $10.50 | +1.74% | $3.15B | 10.5 | — | 0.9 | +22.2% |
| Five Below | $240.36 | −0.66% | $13.38B | 30.5 | 26.6 | 2.6 | +32.5% |
| Dollar Tree | $127.81 | −0.35% | $24.65B | 15.7 | 17.4 | 1.2 | +7.0% |
| Median | 23.1 | 22.0 | 1.9 | +19.7% |