MINISO Group Holding Limited (MNSO) Income Statement
MNSO 2025 at a glance
Fiscal year ended December 31, 2025 · Chinese yuanMNSO revenue and net income
Where MNSO's revenue goes
2025Each bar shows an amount and its share of revenue. MNSO kept 5.6% of revenue as net income.
MNSO profit margins
MNSO growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +26.2% | +28.6% | +18.8% | — |
| Gross profit | +26.3% | +46.5% | +31.7% | — |
| Operating income | −2.0% | +56.7% | +48.0% | — |
| Net income | −54.0% | +23.6% | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MNSO income statement in Chinese yuan
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥21.44B | CN¥16.99B | CN¥15.26B | CN¥10.09B | CN¥9.07B | CN¥9.07B | CN¥8.98B | CN¥9.39B |
| Cost of revenue | CN¥11.80B | CN¥9.36B | CN¥8.78B | CN¥7.02B | CN¥6.64B | CN¥6.64B | CN¥6.25B | CN¥6.88B |
| Gross profit | CN¥9.65B | CN¥7.64B | CN¥6.48B | CN¥3.07B | CN¥2.43B | CN¥2.43B | CN¥2.73B | CN¥2.51B |
| Research & development | CN¥4.4M | — | — | — | — | — | — | — |
| Sales, general & admin | CN¥6.49B | CN¥4.45B | CN¥2.35B | CN¥2.26B | CN¥810.8M | CN¥2.02B | CN¥1.99B | CN¥1.41B |
| Total operating expenses | CN¥6.49B | CN¥4.42B | CN¥3.43B | CN¥2.25B | CN¥1.98B | CN¥1.99B | CN¥1.97B | CN¥1.49B |
| Operating income | CN¥3.16B | CN¥3.22B | CN¥3.05B | CN¥820.0M | CN¥455.6M | CN¥444.4M | CN¥766.6M | CN¥1.02B |
| Interest income | CN¥104.4M | CN¥118.7M | CN¥145.2M | CN¥66.3M | CN¥66.3M | CN¥40.4M | CN¥25.6M | CN¥7.3M |
| Interest expense | CN¥430.9M | CN¥12.9M | CN¥7.1M | CN¥33.4M | CN¥28.4M | CN¥28.4M | CN¥31.3M | CN¥25.2M |
| Income before taxes | CN¥1.91B | CN¥3.35B | CN¥3.31B | CN¥906.8M | −CN¥1.22B | −CN¥1.22B | CN¥80.8M | CN¥289.0M |
| Income taxes | CN¥703.5M | CN¥712.1M | CN¥793.2M | CN¥267.1M | CN¥213.3M | CN¥213.3M | CN¥210.9M | CN¥279.6M |
| Net income | CN¥1.21B | CN¥2.62B | CN¥2.50B | CN¥638.2M | −CN¥1.42B | −CN¥1.43B | −CN¥262.3M | −CN¥290.6M |
| EBITDA | CN¥3.60B | CN¥4.29B | CN¥3.90B | CN¥1.02B | −CN¥922.8M | −CN¥1.18B | CN¥380.8M | CN¥506.0M |
| Gross margin | 45.0% | 44.9% | 42.5% | 30.4% | 26.8% | 26.8% | 30.4% | 26.7% |
| Operating margin | 14.7% | 19.0% | 20.0% | 8.1% | 5.0% | 4.9% | 8.5% | 10.8% |
| Net margin | 5.6% | 15.4% | 16.4% | 6.3% | −15.6% | −15.8% | −2.9% | −3.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥5.79B | CN¥5.65B | CN¥6.17B | CN¥5.80B | CN¥4.97B | CN¥4.43B | CN¥4.71B | CN¥4.04B | CN¥3.72B | CN¥3.84B | CN¥3.79B | CN¥3.25B |
| Cost of revenue | CN¥3.17B | CN¥3.20B | CN¥3.31B | CN¥3.21B | CN¥2.77B | CN¥2.47B | CN¥2.50B | CN¥2.26B | CN¥2.11B | CN¥2.18B | CN¥2.21B | CN¥1.96B |
| Gross profit | CN¥2.62B | CN¥2.45B | CN¥2.86B | CN¥2.59B | CN¥2.20B | CN¥1.96B | CN¥2.22B | CN¥1.77B | CN¥1.62B | CN¥1.66B | CN¥1.58B | CN¥1.30B |
| Sales, general & admin | CN¥1.87B | CN¥1.77B | CN¥2.03B | CN¥1.77B | CN¥1.42B | CN¥1.26B | CN¥276.9M | CN¥227.2M | CN¥887.4M | CN¥909.4M | CN¥170.6M | CN¥643.4M |
| Total operating expenses | CN¥1.87B | CN¥1.76B | CN¥2.02B | CN¥1.78B | CN¥1.42B | CN¥1.27B | CN¥1.25B | CN¥1.02B | CN¥873.2M | CN¥907.6M | CN¥795.4M | CN¥2.60B |
| Operating income | CN¥747.3M | CN¥689.5M | CN¥844.4M | CN¥812.3M | CN¥780.4M | CN¥689.0M | CN¥968.4M | CN¥751.5M | CN¥743.3M | CN¥765.4M | CN¥788.3M | CN¥655.5M |
| Interest income | CN¥16.3M | CN¥16.5M | CN¥18.3M | CN¥20.3M | CN¥28.9M | CN¥36.9M | CN¥19.0M | CN¥33.7M | CN¥40.9M | CN¥40.9M | CN¥69.4M | CN¥46.8M |
| Interest expense | CN¥123.9M | CN¥119.8M | CN¥110.3M | CN¥124.8M | CN¥108.3M | CN¥85.9M | CN¥4.9M | CN¥24.7M | CN¥15.9M | CN¥13.7M | CN¥11.5M | CN¥9.6M |
| Income before taxes | −CN¥126.0M | CN¥1.41B | CN¥48.3M | CN¥670.1M | CN¥626.5M | CN¥567.7M | CN¥956.0M | CN¥760.7M | CN¥768.4M | CN¥806.5M | CN¥846.2M | CN¥727.2M |
| Income taxes | CN¥164.7M | CN¥174.1M | CN¥185.8M | CN¥226.9M | CN¥137.0M | CN¥151.2M | CN¥146.3M | CN¥169.3M | CN¥182.4M | CN¥168.7M | CN¥227.9M | — |
| Net income | −CN¥288.4M | CN¥1.24B | −CN¥139.6M | CN¥440.5M | CN¥489.7M | CN¥416.3M | CN¥805.7M | CN¥587.6M | CN¥582.5M | CN¥635.8M | CN¥612.6M | CN¥539.3M |
| EBITDA | CN¥747.3M | CN¥1.87B | CN¥1.18B | CN¥795.0M | CN¥734.8M | CN¥653.6M | CN¥705.7M | CN¥785.4M | CN¥784.3M | CN¥824.8M | CN¥857.7M | — |
| Gross margin | 45.3% | 43.3% | 46.4% | 44.7% | 44.3% | 44.2% | 47.0% | 43.9% | 43.4% | 43.1% | 41.8% | 39.8% |
| Operating margin | 12.9% | 12.2% | 13.7% | 14.0% | 15.7% | 15.6% | 20.5% | 18.6% | 20.0% | 19.9% | 20.8% | 20.2% |
| Net margin | −5.0% | 22.0% | −2.3% | 7.6% | 9.9% | 9.4% | 17.1% | 14.6% | 15.6% | 16.6% | 16.2% | 16.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported in MNSO's financial statements (latest annual report filed April 24, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MNSO financial results
In fiscal year 2025 (ended December 31, 2025), MINISO reported revenue of CN¥21.4 billion, up 26.2% from the year before. It had net income of CN¥1.2 billion (down 54.0%), a net profit margin of 5.6%. Over five years revenue grew at an average rate of 18.8% a year. Figures are in Chinese yuan, the currency of its financial statements.
See the MNSO stock overview for the latest quote and news, or the MNSO chart for price history and technical indicators.
MNSO income statement FAQ
What is MINISO's annual revenue?
MINISO reported total revenue of CN¥21.4 billion for fiscal year 2025, which ended on December 31, 2025. That was up 26.2% from CN¥17.0 billion the previous year.
Is MINISO profitable?
Yes. MINISO reported net income of CN¥1.2 billion in fiscal 2025, a net profit margin of 5.6%; its operating margin was 14.7%.
What is MINISO's gross margin?
MINISO's gross margin was 45.0% in fiscal 2025: for every $100 of revenue, MINISO kept $45 after the direct cost of its products and services.
How much does MINISO spend on research and development?
MINISO spent CN¥4.4 million on research and development in fiscal 2025, 0.0% of revenue.
How fast is MINISO growing?
Revenue grew 18.8% a year on average over the last five fiscal years, from CN¥9.1 billion to CN¥21.4 billion.
When will MINISO report its next earnings?
MINISO is expected to report results for the quarter ending September 30, 2026 on November 19, 2026 before the market opens.
When does MINISO's fiscal year end?
MINISO's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 24, 2026.