MINISO Shares Jump 8.2% on China and IP Growth Metrics

MINISO Group shares rose 8.2% to HK$19.45 on Monday after a quarterly operating update highlighted growth in its core China market and the adoption of its proprietary intellectual property.

The gains follow a period of expansion for the retailer. Mainland China gross merchandise value (GMV) climbed between 25% and 30% year-over-year for the quarter ending September 30, 2026. This momentum continued into the early fourth quarter, as the company reported a 20% to 25% year-over-year GMV increase during the National Day holiday period from October 1 to 7, 2026.

Proprietary IP Performance

A driver of the company's recent performance is the commercial success of its proprietary IP character, 'YOYO.' According to the operating update, the character surpassed RMB 1 billion in GMV within nine months of its launch. The brand's footprint for this IP now spans 53 countries and regions, reflecting the company's strategy to move toward owned-IP assets instead of relying solely on third-party licensing.

International Market Expansion

MINISO's international operations showed growth, particularly in the United States. The company reported approximately 20% GMV growth in its U.S. segment for the third quarter of 2026. This growth increased toward the end of the period, with September performance exceeding 30% year-over-year.

Understanding Retail GMV

Gross Merchandise Value is a metric in the retail sector representing the total value of merchandise sold over a given period through a customer-to-customer or business-to-consumer exchange. Unlike revenue, which reflects the income a company retains after accounting for its own margins, GMV provides a measure of total transaction volume. It offers insight into the scale and reach of a company's sales channels. For a retailer like MINISO, sustained GMV growth indicates consumer demand and inventory turnover across its global store network.