Miniso's Hong Kong Shares Drop To 20: month low despite upbeat results; Nomura trims target price

MINISO Holding

27/05/2026 05:09

** Shares of MINISO Group Holding 9896.HK fall 7.7% to HK$23.96, their lowest level since September 2024
** Stock posts its biggest intraday pct drop since May 26, 2025
** U.S.-listed stock of MINISO MNSO.N ended 4.2% lower on Tuesday 
** The lifestyle products and toys retailer says its first-quarter revenue up 28.5% y/y at 5.69 billion yuan ($839.01 million), operating profit up 114.3% y/y and profit up 199.70% y/y
** Nomura maintains "buy" rating while trims target price of the U.S. shares to $22.9 from $25, saying 1Q26 results in line with same-store sales growth to moderate ahead 
** Citi retains "buy" rating, cites 1Q26 net profit in line with market expectations with better-than-expected topline mitigating slightly lower-than-expected gross profit margin 
** Citi sees risk from fierce industry competition, weaker-than-expected global expansion, uncertain macro environment and consumer preferences shifts, among others 
** YTD, stock down 31.9%, while benchmark Hang Seng Index .HSI down 0.7%

($1 = 6.7818 Chinese yuan)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))