Why is MINISO stock surging today?

MINISO stock experienced a significant surge of 8.2% to HK$19.45 on Monday, following the company's quarterly operating update. The news highlighted a notable acceleration in MINISO's core China business and a historic milestone for its flagship proprietary intellectual property brand. The standout figure was the company's disclosure that mainland China's gross merchandise value for the three months ended September 30, 2026, grew by a substantial 25%–30% year-over-year.

This growth trend was building momentum from the first half of the year and was further boosted during the National Day holiday period from October 1 to 7, when China's gross merchandise value expanded by another 20%–25% year-over-year.

MINISO's proprietary IP character YOYO made headlines by achieving a remarkable feat within just nine months of its commercial launch. The character surpassed RMB 1 billion in gross merchandise value, expanding its reach to 53 countries and regions. This milestone underlines MINISO's aspirations to become a globally scalable IP platform.

On the U.S. front, the company's operations contributed to approximately 20% growth in gross merchandise value (GMV) during Q3 2026. The recovery in September was particularly noteworthy, with GMV rebounding to over 30% growth and positive same-store sales. These developments complemented the broader strength observed in Hong Kong markets, where the Hang Seng index rose by 0.3%.