EarningsQ2 2026 Earnings Report
MX:MNSON Q2 2026 EPS Results
Actual EPS-$2.62
Consensus EPS$5.11
Beat/MissMissed by -$7.72
One Year Ago EPS$4.37
MX:MNSON Q2 2026 Revenue Results
Actual Revenue$15.62B
Expected Revenue$15.81B
Beat/MissMissed by -$192.58M
YoY Revenue Growth+24.33%
Earnings Announcement Details
QuarterQ2 2026
Date08/28/2026
TimeBefore Open
Conference CallFriday, August 28, 2026
MX:MNSON Upcoming Earnings
MINISO Group Holding's next earnings date is estimated for November 27, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:MNSON Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a balanced picture: strong, high-quality growth in China, rapid progress on proprietary IP and membership initiatives, healthy cash generation and shareholder returns are significant positives. However, meaningful execution and profitability challenges in overseas markets, elevated inventory days internationally, increased operating expenses and a more cautious profit/margin outlook introduce notable near-term risks. Management’s clear action plans (slowing overseas rollouts, focusing on ROI and refining store/product cadence) are constructive but indicate a transitional period.Company Guidance
Strong H1 Revenue and Growth
Group H1 revenue of RMB 11.5 billion, up 22.4% YoY; EPS grew 8.2% and operating cash flow/net cash inflow from operations rose ~45% (RMB 1.48 billion). Global store count reached 8,674.
Outstanding China Performance
MINISO China H1 revenue grew 26.2% YoY (vs China retail sales +1.3% in H1), fastest H1 growth in 3 years; China store count 4,665 (net +97 in H1) and China same-store sales achieved mid-single-digit growth.
Large-Format Store & Renovation Success
189 store renovations completed in H1; post-renovation store performance doubled YoY. Land/large-format stores show sales per sqm roughly 2x regular stores; new formats (Super MINISO, MINISO Land/Friends/Space) demonstrating higher sales and faster payback.
Proprietary IP Breakthroughs and Faster Monetization
YOYO proprietary IP entered 53 countries and generated nearly RMB 500 million in related revenue in H1; group achieved RMB 1 billion proprietary IP sales target ahead of schedule (by end of July). Choco launch sold out (5,000 sets sold within 1 second in a live event).
Membership Expansion and Strong Member Economics
China membership up 31% to 130 million. Member sales contribution meaningfully higher (members’ contribution ~2x nonmembers); IP members show >3x average transaction value vs non-IP members, 80% higher retention, and ~2x purchase frequency vs non-IP members; cashback users repurchase ~1.6x more frequently.
TOP TOY Growth and Global Footprint
TOP TOY H1 revenue grew 32.7% YoY; global TOP TOY store count 365 (48 overseas). Flagship IP Nommi cumulative GMV surpassed RMB 300 million; proprietary IP accounted for ~10% of TOP TOY sales and continues to expand.
Healthy Gross Margin and Tariff Tailwind
Group H1 gross profit margin was 44.3% (flat YoY); Q2 GP margin improved to 45.3% (+1.0pp YoY), aided by U.S. tariff refunds (approx. +1.2pp in Q2) and expected ~20–30 bps support to GP margin over the next two quarters.
Strong Balance Sheet and Shareholder Return
Cash reserve RMB 7.39 billion at end-June. The company returned RMB 1.31 billion to shareholders in H1 via dividends and buybacks (repurchased RMB 520 million; management purchases ~RMB 54 million), with commitment to total buybacks+dividends of at least 50% of adjusted net profit (ex-FX).
MX:MNSON Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed