MINISO Group Announces Results of Extraordinary General Meeting

Rhea-AI Summary

MINISO Group (NYSE: MNSO; HKEX: 9896) announced that its extraordinary general meeting (EGM) was successfully held in Hong Kong on January 17, 2025. The shareholders approved all proposed resolutions related to the company's planned acquisition of shares in Yonghui Superstores Co., . The company expects to finalize the acquisition once all remaining closing conditions outlined in the share purchase agreements are either satisfied or waived.

Positive

• Shareholder approval obtained for strategic acquisition of Yonghui Superstores
• Successful completion of key corporate governance milestone

Negative

• None.

Insights

Financial Analyst

The shareholder approval for MINISO's acquisition of Yonghui Superstores shares marks a strategic expansion into China's retail grocery sector. With a market cap of $7.2 billion, MINISO is leveraging its strong financial position to diversify beyond its core lifestyle products business. The synergy potential lies in combining MINISO's retail expertise and efficient supply chain with Yonghui's established grocery network.

The absence of financial details about the acquisition size limits a thorough valuation analysis. However, Yonghui Superstores, as one of China's major grocery chains, represents a significant market opportunity. The deal could provide MINISO with:

• Enhanced retail footprint in China
• Cross-selling opportunities between lifestyle and grocery segments
• Improved bargaining power with suppliers
• Diversified revenue streams beyond discretionary retail

For retail investors: Think of this as a department store buying a grocery chain - it's about creating a more complete retail ecosystem. While the immediate financial impact remains unclear, the strategic rationale focuses on long-term growth and market positioning.

Market Research Analyst

This acquisition signals MINISO's strategic pivot from a pure-play lifestyle retailer to a more diversified retail conglomerate. The Chinese retail market context is important here - traditional retail boundaries are blurring, with successful players increasingly adopting an omnichannel, multi-category approach. Yonghui's strong presence in tier 1 and 2 cities complements MINISO's existing store network.

The timing is particularly interesting given the evolving Chinese consumer landscape. Post-pandemic trends show increased focus on value-for-money propositions and one-stop shopping experiences. MINISO's value-oriented DNA combined with Yonghui's grocery expertise could create a compelling retail proposition.

Simple explanation: Imagine your favorite trendy store that sells cute accessories and home goods now also offering groceries under the same umbrella. It's like having your favorite cafe inside a bookstore - both businesses can help each other grow by sharing customers.

GUANGZHOU, China, Jan. 17, 2025 /PRNewswire/ -- MINISO Group Holding Limited (NYSE: MNSO; HKEX: 9896) ("MINISO", "MINISO Group" or the "Company"), a global value retailer offering a variety of trendy lifestyle products featuring IP design, today announced that the previously announced extraordinary general meeting of the Company's shareholders (the "EGM") to seek shareholder approval for the proposed acquisition of shares of Yonghui Superstores Co., Ltd was held in Hong Kong today. All the proposed resolutions submitted for shareholder approval set out in the EGM notice were duly adopted by the shareholders of the Company at the EGM.

Following the EGM, the Company expects to complete the proposed acquisition after the satisfaction or waiver of the other closing conditions in accordance with the relevant share purchase agreements.

About MINISO Group

MINISO Group is a global value retailer offering a variety of trendy lifestyle products featuring IP design. The Company serves consumers primarily through its large network of MINISO stores, and promotes a relaxing, treasure-hunting and engaging shopping experience full of delightful surprises that appeals to all demographics. Aesthetically pleasing design, quality and affordability are at the core of every product in MINISO's wide product portfolio, and the Company continually and frequently rolls out products with these qualities. Since the opening of its first store in China in 2013, the Company has built its flagship brand "MINISO" as a globally recognized consuming brand and established a massive store network worldwide. For more information, please visit https://ir.miniso.com/. 

Investor Relations Contact:

MINISO Group Holding Limited
Email: ir@miniso.com
Phone: +86 (20) 36228788 Ext.8039

View original content:https://www.prnewswire.com/news-releases/miniso-group-announces-results-of-extraordinary-general-meeting-302354113.html

SOURCE MINISO Group Holding Limited

FAQ

What was the outcome of MINISO's (MNSO) extraordinary general meeting on January 17, 2025?

All proposed resolutions were approved by shareholders, including the acquisition of shares in Yonghui Superstores Co.,

When will MINISO (MNSO) complete the Yonghui Superstores acquisition?

The acquisition will be completed after all closing conditions in the share purchase agreements are satisfied or waived.

What was the purpose of MINISO's (MNSO) extraordinary general meeting in January 2025?

The EGM was held to seek shareholder approval for the proposed acquisition of shares in Yonghui Superstores Co.,

Where was MINISO's (MNSO) extraordinary general meeting held in January 2025?

The extraordinary general meeting was held in Hong Kong on January 17, 2025.