MINISO Group Holding Limited

What they do

MINISO operates a global variety-store retail network selling lifestyle and consumer products under its MINISO brand, with products typically priced at affordable, value-oriented price points. The company is headquartered in Guangzhou, China and is led by Chief Financial Officer Jingjing Zhang. Its American depositary shares each represent four ordinary shares, and its ordinary shares also trade in Hong Kong. The company is a large accelerated filer and reports under IFRS Accounting Standards as issued by the IASB.

Revenue drivers

• MINISO-branded merchandise retail — Revenue is driven primarily by sales of MINISO-branded lifestyle and consumer products through the company's store network; the 20-F/A excerpt does not break out segment-level revenue figures.
• Yonghui Superstores equity-method investment — The company holds an equity-method investment in Yonghui Superstores Co., Ltd. that was significant enough under Rule 3-09 of Regulation S-X to require inclusion of Yonghui's separate financial statements in the amended 20-F; Yonghui is not consolidated.
• International store expansion — The filings indicate a multi-jurisdiction footprint with ADSs on NYSE and ordinary shares on the Hong Kong Stock Exchange, consistent with an international retail expansion strategy, though the excerpt does not provide specific international revenue contribution figures.

Recent performance

The only reported period referenced in the provided excerpt is the fiscal year ended December 31, 2025. As of that date the company had 1,237,564,177 ordinary shares outstanding, each with a par value of US$0.00001. The company filed its original Annual Report on Form 20-F on April 24, 2026, and filed this Amendment No. 1 on June 29, 2026. The amendment was made solely to add the separate financial statements of Yonghui Superstores Co., Ltd. for the year ended December 31, 2025 and the nine months ended December 31, 2025, because the company's equity-method investment in Yonghui was deemed significant under Rule 3-09. The excerpt does not include MINISO's consolidated revenue, net income, or comparable financial figures for fiscal 2025.

Strategy

The company's reported strategic actions visible in this filing center on its equity-method investment in Yonghui Superstores, which the company has determined is significant under Regulation S-X. Management filed this Amendment No. 1 specifically to include Yonghui's separate financial statements and related notes, along with auditor consents and CEO/CFO certifications. The filing does not describe new store-opening targets, product-category initiatives, or capital allocation plans. No forward-looking strategic guidance is provided in this excerpt.

Risks

• Equity-method investment concentration — The company's investment in Yonghui Superstores was significant enough under Rule 3-09 to require Yonghui's separate financial statements, meaning Yonghui's performance could materially affect MINISO's reported results.
• China and international retail exposure — As a Guangzhou-headquartered retailer with NYSE and HKEX listings, the company is exposed to retail demand, consumer spending, and operating conditions in China and other markets where it sells.
• Foreign private issuer reporting — MINISO files as a foreign private issuer using IFRS Accounting Standards under Form 20-F, which may result in less frequent and less granular disclosure than U.S. domestic issuers.
• Amendment scope limitations — This Amendment No. 1 updates only the Yonghui financial statements and does not reflect events occurring after the April 24, 2026 original filing date, so it may not capture subsequent developments.

Outlook

This Amendment No. 1 does not contain management guidance, revenue projections, or forward-looking outlook statements. The filing explicitly states that it should be read in conjunction with the Original Filing and subsequent SEC filings. No outlook statements from management are available in the provided excerpt.