Miniso (MNSO, Financial) revealed that Guofu Ye, the chairman and CEO of the company, has fully resolved his personal collar transaction with a financial institution. This resolution involved the return of 14 million ordinary shares to the company, which were originally held as collateral for a prepaid forward agreement established in 2023.
Ye, through Mini Investments SP1, a British Virgin Islands entity under his control, had initially transferred these shares to the financial institution in exchange for an upfront payment. The agreement allowed for the transaction to be settled either through a cash payment or by transferring the shares upon expiration. With the conclusion of this arrangement, Mini Investments has successfully reacquired all 14 million shares.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 13 analysts, the average target price for MINISO Group Holding Ltd (MNSO, Financial) is $22.29 with a high estimate of $26.54 and a low estimate of $16.46. The average target implies an upside of 24.18% from the current price of $17.95. More detailed estimate data can be found on the MINISO Group Holding Ltd (MNSO) Forecast page.
Based on the consensus recommendation from 14 brokerage firms, MINISO Group Holding Ltd's (MNSO, Financial) average brokerage recommendation is currently 2.1, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for MINISO Group Holding Ltd (MNSO, Financial) in one year is $33.55, suggesting a upside of 86.91% from the current price of $17.95. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the MINISO Group Holding Ltd (MNSO) Summary page.
MNSO Key Business Developments
Release Date: May 23, 2025
- Total Revenue: RMB4.43 billion, up 90% year-over-year.
- MINISO China Revenue: RMB2.49 billion, increased by 9%.
- MINISO Overseas Revenue: RMB1.59 billion, grew by 30%.
- TOPTOY Revenue: RMB340 million, up 59%.
- Gross Margin: 44.2%, increased by nearly 1 percentage point from the previous year.
- Adjusted EBITDA Margin: 23.4%, up by 7.5 percentage points.
- Adjusted Net Profit: RMB590 million, with a margin of 30.3%.
- Domestic Same-Store Sales: Declined by mid-single-digit, but improvement trend noted.
- Overseas Same-Store Sales: Solid growth on a two-year compound rate despite base pressure.
- New Store Openings: 95 new overseas locations added in Q1.
- Store Closures: Focus on closing underperforming stores and opening larger, more efficient ones.
- Dividend and Share Repurchase: RMB740 million in dividends paid; RMB260 million in share repurchases completed.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- MINISO Group Holding Ltd (MNSO, Financial) reported a significant revenue growth of 90% year-over-year, reaching RMB4.43 billion, exceeding expectations.
- The company's domestic same-store sales showed a marked improvement, shifting from negative to positive performance, particularly during holiday periods.
- MINISO's overseas revenue grew by 30%, surpassing the upper limit of their guidance, indicating strong international market performance.
- The company has successfully implemented a strategy of opening larger, better-performing stores, with new stores achieving 27% higher average efficiency compared to the previous year.
- MINISO's IP strategy has been effective, with successful product launches like the ChiiKawa Lunar New Year collection and Stitch collections, enhancing market response and sales performance.
Negative Points
- Despite improvements, domestic same-store sales still faced a mid-single-digit decline, indicating ongoing challenges in the Chinese market.
- The company's operating profit margin declined due to changes in revenue structure, with a higher proportion of lower-margin direct-operated business.
- Selling and administrative expenses increased by 45%, with a significant rise in sales expenses, impacting overall profitability.
- The US market faces challenges with tariff fluctuations, requiring adjustments in supply chain strategies to mitigate potential impacts.
- Financial expenses increased due to convertible bonds and bank loans, affecting net profit margins and resulting in a higher effective tax rate.
