Miniso Shares Slip as Sales Surge and Stores Multiply

Miniso’s stock fell about 4% after its latest earnings release. The company said sales rose sharply in China, pushing total revenue up 22% to roughly 11.5 billion yuan. That helped profit climb 5.6% to 956.6 million yuan. But costs jumped, with selling and distribution fees climbing nearly 40% to 3 billion yuan.

At the halfway point, Miniso operated 8,309 stores worldwide. Four thousand six hundred sixty‑five were in China, and 3,644 were abroad. Membership numbers rose fast: 130 million members in China, up 31%, and 5.8 million in the United States, double the previous count. Those members made up most of the sales in each region.

The firm highlighted its own brand products and a growing loyalty program as key growth drivers. It plans to lean on its intellectual property and bigger store formats to boost brand love and change how people shop. On the earnings call, the boss said overseas expansion will now focus more on making money for investors.

Founder Ye Guo Fu is worth about 1.4 billion dollars, according to the latest billionaire list. His net worth has slipped as Miniso’s share price dropped almost 60% over the past year. That drop reflects worries about profit margins and rising costs.