MINISO stock fell 11.4% to HK$18.83 on Monday after the company reported second-quarter results that came in below market expectations. The shortfall in both earnings per share and top-line revenue prompted investor concern, and weakness in the companys overseas business emerged as the most prominent negative detail.
For the quarter, MINISO reported diluted earnings per share of RMB 1.76, compared with a consensus estimate of RMB 2.12. Revenue for the period was around RMB 5.75 billion, slightly under the analyst forecast of about RMB 5.81 billion. Both figures trailed market estimates and were cited by investors as reasons for the steep intraday decline.
Management flagged a marked deterioration in international performance. CEO Guofu Ye said that "overseas performance fell short of our expectation," and the company disclosed that profit contribution from international operations has fallen substantially - from roughly 35-40% in 2023 to approximately 10-15% in the first half of 2026. That contraction in the share of profits from overseas markets was highlighted as the most damaging element of the report.
The regional market backdrop offered little offset. The Hang Seng Index eased 0.9% on the same trading day, providing limited support for stocks in Hong Kong and amplifying downward pressure on shares that missed forecasts.
What happened
- MINISO shares fell 11.4% to HK$18.83 on Monday following second-quarter results.
- Reported EPS was RMB 1.76, below the consensus RMB 2.12 estimate.
- Revenue came in at about RMB 5.75 billion versus an expected RMB 5.81 billion.
- Management noted a sharp decline in international profit contribution, down to 10-15% in H1 2026 from 35-40% in 2023.
- The Hang Seng Index declined 0.9% on the same day.
Market reaction and context
Investors drove the stock lower following the earnings release and management commentary on overseas weakness. The combination of disappointing quarterly numbers and a pronounced drop in international profit contribution were cited by market participants as the principal catalysts for the selloff. The broader pullback in the Hang Seng Index added to selling pressure on companies listed in Hong Kong.