Мейчжун Юпін підвищить дохід у 2025 році більш ніж на 30%, збільшить інвестиції у власні IP та відкриє великі магазини

【Caixin Net】 Miniso continues to further expand its own IP (intellectual property), and opens more large stores. Chairman and CEO Ye Guofu said he is optimistic about the Mexican market.

On March 31, Miniso Group (NYSE: MNSO; HKEX: 9896) released its 2025 financial report. Total revenue first exceeded 20 billion yuan, reaching 21.44 billion yuan, a year-on-year increase of 26.2%. Of this, Miniso’s brand revenue was 19.52 billion yuan, up 22.0%; the TOP TOY brand revenue was 1.92 billion yuan, up 94.8%. In the same period, Miniso achieved adjusted net profit of 2.9 billion yuan, up 6.5%. The group’s overall same-store sales growth was at a low single-digit level.

Continue to build on its own IP

In 2023, Miniso positioned itself as a “collection store of everyday goods characterized by IP design,” and later upgraded to a “globally leading IP fun goods platform.” When promoting IP products in the past, Miniso typically sought licenses for internationally well-known IP and developed co-branded products. This was seen as a cost-effective option with lower investment and a higher likelihood of success. However, in the first half of 2025, Pop Mart’s in-house IP LABUBU went viral worldwide, prompting Miniso to see the value and potential of its own IP as well. It began to further strengthen the relevant capabilities.