China smartphone shipments slumped in June on inventory overhang: Jefferies
Investing.com -- MINISO Group Holding Limited (NYSE:MNSO) shares gained 2.4% on Thursday after the global value retailer reported second-quarter earnings that significantly exceeded analyst expectations, driven by strong revenue growth and improved same-store performance.
The company reported adjusted earnings per ADS of RMB2.24 ($0.31), beating analyst estimates of RMB1.75 by RMB0.49. Revenue reached RMB4.97 billion ($693.2 million), surpassing the consensus estimate of RMB4.86 billion and representing a 23.1% increase YoY.
MINISO’s performance showed marked improvement in same-store GMV growth, which turned positive in the quarter after experiencing a mid-single digit contraction in the previous period.
The company’s mainland China operations achieved low-single digit growth, while its TOP TOY brand revenue surged 87% YoY to RMB402.2 million.
"We are gratified that MINISO Group accelerated growth in the June Quarter and we delivered a double-digit growth of operating profit which exceeded our expectations," said Guofu Ye, Founder, Chairman, and CEO of MINISO.
The company’s overseas expansion continued with 554 net new MINISO stores added YoY, bringing its total global store count to 7,905. Notably, 74.5% of new MINISO stores opened in the past twelve months were in overseas markets.
MINISO also announced an interim dividend of $0.2896 per ADS, reflecting management’s confidence in the company’s financial position. The company’s cash position stood at RMB7.47 billion ($1.04 billion) as of June 30, 2025.
Looking ahead, CFO Eason Zhang noted: "We now expect revenue growth to accelerate for the remainder of 2025."
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