---
title: "MNSO forecasts that last year's profit will be halved to over 1.3 billion RMB"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/279063248.md"
description: "MNSO expects its profit for the fiscal year 2025 to be halved to RMB 1.32 billion to RMB 1.33 billion, a significant decrease from RMB 2.635 billion in the previous year. The profit reduction is mainly due to the net loss of Yonghui Superstores, the loss from the redemption liabilities of TOP TOY preferred shares, and interest expenses on stock-linked securities. Nevertheless, the company expects its annual revenue to grow by 26%, reaching RMB 21.44 billion to RMB 21.445 billion, with operating profit of approximately RMB 3.3 billion to RMB 3.305 billion"
datetime: "2026-03-13T14:49:37.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/279063248.md)
  - [en](https://longbridge.com/en/news/279063248.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/279063248.md)
---

> 支持的语言: [English](https://longbridge.com/en/news/279063248.md) | [繁體中文](https://longbridge.com/zh-HK/news/279063248.md)


# MNSO forecasts that last year's profit will be halved to over 1.3 billion RMB

MNSO (09896.HK) announced that it expects profits for the fiscal year 2025 to be between RMB 1.32 billion and RMB 1.33 billion, compared to RMB 2.635 billion recorded in the previous year. The decrease in profits is mainly due to Yonghui Superstores expecting to record a net loss of approximately RMB 2.1 billion, thus the company anticipates its share of the loss from Yonghui's investment to be about RMB 740 million; the change in the redemption liability book value from TOP TOY's issuance of preferred shares is expected to result in a loss of RMB 150 million to RMB 160 million; and the interest expense from the company's issuance of stock-linked securities is approximately RMB 192 million.

Total revenue is expected to be between RMB 21.44 billion and RMB 21.445 billion, representing a growth of 26%; operating profit is estimated to be around RMB 3.3 billion to RMB 3.305 billion; and adjusted operating profit is expected to be between RMB 3.665 billion and RMB 3.675 billion.

The company indicated that the first two months of this year continued to show positive business momentum, with the GMV of the MNSO brand in the mainland market growing by over 25%, and same-store GMV recording at least a high single-digit year-on-year growth; the GMV of the MNSO brand in the United States grew by over 50%, with same-store GMV increasing by at least 20%

### 相关股票

- [MNSO (09896.HK)](https://longbridge.com/zh-CN/quote/09896.HK.md)
- [Yonghui Superstores (601933.CN)](https://longbridge.com/zh-CN/quote/601933.CN.md)

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