# MINISO Group Holding Limited (MNSO)

> Source: Nexqual · https://nexqual.com/MNSO · data as of 2026-10-23 14:45 UTC · cite as "Nexqual, MINISO Group Holding Limited (MNSO), nexqual.com/MNSO" · informational, not investment advice.

**Price:** USD 10.14 (-0.73% today) · US market open, as of October 23, 2026 at 14:45 UTC; quotes may be delayed. Prev close 10.21 · day 10.08–10.24 · 52w 8.55–22.82 · market cap $2.96B · NYQ

## Key facts
- Insider open-market purchases, last ~7 months: 3 Form 4 filings, $14.1M; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.12 on a 1–5 scale) (17 analysts), mean target USD 14.24 (range 10.91–19.55).
- Total return with dividends: 1Y -52.8% vs S&P 500 +14.5%; 5Y -24.1% vs S&P 500 +77.2%.
- Next earnings: 2026-11-19, EPS estimate USD 2.14, revenue estimate $6.47B.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
3 purchases, $14.1M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-09-29 | Zhang Jingjing Eason | VP and Chief Financial Officer | 150,600 | $340K | 2.26 | Too little history (no open-market trades in 2023–2025) |
| 2026-05-29…2026-06-01 | Yang Yunyun (alice) | Vice President | 2,100,000 | $6.9M | 3.29 | Too little history (no open-market trades in 2023–2025) |
| 2026-05-29…2026-06-01 | Ye Guofu | Chief Executive Officer | 2,100,000 | $6.9M | 3.29 | Too little history (no open-market trades in 2023–2025) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.12 on a 1–5 scale), 17 analysts; mean target USD 14.24 (low 10.91, high 19.55).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-31 | HSBC | Downgrade | Buy → Hold | $10.8 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -52.8% | -24.1% |
| S&P 500 (SPY) | +14.5% | +77.2% |
| Per year | -52.8% | -5.4% |
| Volatility (annualized) | 37.1% | 61.4% |
| Max drawdown | -60.3% (Oct 2025→Sep 2026) | -71.8% (Nov 2021→Sep 2022) |

## Peers (Specialty Retail)
RH (RH) USD 136.51 -2.60% · ASO (Academy Sports and Outdoors, In) USD 59.94 -2.98% · BOBS (Bob's Discount Furniture, Inc.) USD 16.1 -1.29% · BBWI (Bath & Body Works, Inc.) USD 20.76 -3.91% · SBH (Sally Beauty Holdings, Inc. (Na) USD 17.09 -3.01% · ARHS (Arhaus, Inc.) USD 11.59 +0.52%

## More
Full page: https://nexqual.com/MNSO · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in MNSO's own 20-F filed 2026-04-24 (https://www.sec.gov/Archives/edgar/data/1815846/000110465926048172/mnso-20251231x20f.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Guangzhou Mingyou Business Development | "In March 2023, we entered into a five-year lease agreement with fixed lease payments with Guangzhou Mingyou Business Development Co., Ltd., a company significantly influenced by Mr. Guofu Ye, in respect of a property for…" |
| Partner | Miniso Development Hong Kong | "In February 2020, Miniso Universal further established Miniso Development Hong Kong Limited, or Miniso Development HK, in Hong Kong to (a) hold Miniso Guangzhou, our PRC holding company, and (b) engage in overseas operat…" |
| Partner | Wow Colour Beauty Guangdong Technology | "We entered into an information technology support and consulting services agreement with Wow Colour Beauty Guangdong Technology Limited, a company controlled by Mr. Guofu Ye." |
| Partner | ACC Super Accessories Shenzhen Technology | "We entered into an information technology support and consulting services agreement with ACC Super Accessories Shenzhen Technology Limited, a company significantly influenced by Mr. Guofu Ye." |
| Partner | Enterprise Management | "We entered into an information technology support and consulting services agreement with Vision (Guangdong) Enterprise Management Co., Ltd., a company controlled by Mr. Guofu Ye." |
| Partner | Guangzhou Mingyou Business Management | "In August 2023, we entered into a lease agreement with fixed lease payments with Guangzhou Mingyou Business Management Co., Ltd., a company significantly influenced by Mr. Guofu Ye, in respect of a property for an one-of…" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $2.14 | $2.88 | -25.5% | $6.47B | 2 |
| Next quarter (ends 2026-12-31) | $2.29 | $3.00 | -23.7% | $6.66B | 2 |
| Current fiscal year (ends 2026-12-31) | $8.31 | $10.06 | -17.4% | $24.73B | 10 |
| Next fiscal year (ends 2027-12-31) | $9.85 | $11.41 | -13.7% | $27.89B | 12 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-19): ±8.4%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 37.0% | ±8.4% |
| 2026-12-18 | 56 | 42.5% | ±13.3% |
| 2027-02-19 | 119 | 39.5% | ±17.7% |
| 2027-05-21 | 210 | 44.9% | ±26.4% |