The company reported total revenue of RMB 5,796.6 million (US$814.3 million), a 28.2% year‑over‑year increase that surpassed the consensus estimate of roughly RMB 5,593 million (US$793.9 million). The lift was driven by a 20% rise in revenue from the MINISO brand in China and a 13.6% increase in mainland China sales, while the newly launched TOP TOY brand posted an 87% jump in sales during the quarter, reflecting strong demand for its toy and hobby products.
Adjusted operating profit climbed 14.8% to RMB 1,022.3 million, and adjusted net profit reached RMB 766.8 million, both exceeding analysts’ expectations. Adjusted EBITDA rose to RMB 1,353.8 million. Operating margin expanded to 17.6% from 17.2% a year earlier, and gross margin improved to 44.7% from 44.9% in the prior year. The margin gains were largely attributable to a more favorable product mix and cost‑control measures that offset modest increases in raw‑material costs.
The company’s store network grew to more than 8,000 global locations, with overseas expansion contributing significantly to the revenue surge. The TOP TOY brand’s rapid growth in international markets helped offset slower performance in some domestic segments, underscoring the company’s strategy to diversify its revenue base.
Cash reserves stood at RMB 7.77 billion at quarter‑end, giving the company ample liquidity to fund further store openings and inventory replenishment while maintaining a strong balance sheet.
Management did not provide new forward guidance for the next quarter or the full fiscal year, but emphasized continued focus on cost discipline and strategic investments in high‑return verticals. The lack of updated guidance suggests the company is maintaining a cautious outlook while remaining confident in its operational execution.
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