| General information and list of principal subsidiaries |
1General information and list of principal subsidiaries 1.1General information MINISO Group Holding Limited (the “Company”) was incorporated in the Cayman Islands on January 7, 2020, as an exempted company with limited liability under the Companies Law, Cap.22 (Law 3 of 1961, as consolidated and revised) of the Cayman Islands. The Company completed its initial public offering (“IPO”) on October 15, 2020 and the Company’s American Depositary Shares (“ADSs”) have been listed on the New York Stock Exchange since then. Each ADS of the Company represents four ordinary shares. The Company’s ordinary shares have also been listed on The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”) since July 13, 2022. The accompanying consolidated financial statements comprise the Company and its subsidiaries (together, the “Group”). The Group is principally engaged in the retail and wholesale of lifestyle and pop toy products across the People’s Republic of China (the “PRC”) and other countries in Asia, America, and Europe, etc. The Company does not conduct any substantive operations of its own but conducts its primary business operations through its subsidiaries. 1.2List of principal subsidiaries Set out below is a list of the Company’s principal subsidiaries as at December 31, 2025: | | | | | | | | | | | Place of | | | | Group’s effective | | | | | incorporation/ | | Issued | | interest | | | Company name | | establishment and business | | and paid-up capital | | (direct or indirect) | | Principal activities | MINISO Universal Holding Limited | | BVI | | USD- | | 100% | | Investment holding | MINISO Global Holding Limited | | BVI | | USD- | | 100% | | Investment holding | YGF Investment V Limited | | BVI | | RMB405,516 | | 100% | | Investment holding | MINISO Development Hong Kong Limited | | Hong Kong | | HKD- | | 100% | | Investment holding and wholesale of lifestyle products | MINISO Investment Hong Kong Limited | | Hong Kong | | HKD80,100,000 | | 100% | | Investment holding and wholesale of lifestyle products | MINISO Hong Kong Limited | | Hong Kong | | HKD350,000,000 | | 100% | | Wholesale of lifestyle products | YGF Investment V Hong Kong Limited | | Hong Kong | | RMB8,272 | | 100% | | Investment holding | MINISO Life Style Private Limited | | India | | INR669,540,570 | | 100% | | Wholesale and retail of lifestyle products | USA MINISO Depot Inc. | | United States | | USD67,041,441 | | 100% | | Wholesale and retail of lifestyle products | Pt. MINISO Lifestyle Trading Indonesia | | Indonesia | | IDR53,289,350,000 | | 67% | | Wholesale and retail of lifestyle products | MIHK Management Inc. | | Canada | | CAD73,923,820 | | 100% | | Wholesale and retail of lifestyle products | Miniso Lifestyle Singapore Private Limited | | Singapore | | SGD3,000 | | 100% | | Wholesale and retail of lifestyle products | MINISO (Guangzhou) Co., Ltd. (i)(ii) | | PRC | | RMB139,693,019 | | 100% | | Wholesale and retail of lifestyle products | MINISO Youxuan Technology (Guangzhou) Co., Ltd. (ii) | | PRC | | RMB10,000,000 | | 100% | | Online sales of lifestyle products | MINISO International (Guangzhou) Co., Ltd. (ii) | | PRC | | RMB65,000,000 | | 100% | | Wholesale of lifestyle products | MINISO (Hengqin) Enterprise Management Co., Ltd. (ii) | | PRC | | RMB10,000,000 | | 100% | | Brand licensing | TOP TOY International Group Limited | | Cayman Islands | | USD8,800 | | 86.9% | | Investment holding | TOP TOY Group Holding Limited | | Cayman Islands | | USD- | | 100% | | Investment holding | TOP TOY Universal Holding Limited | | BVI | | USD- | | 100% | | Investment holding | TOP TOY HK Limited | | Hong Kong | | HKD- | | 100% | | Wholesale of pop toy products | TOP TOY (Guangdong) Cultural Creativity Co., Ltd. (Formerly known as TOP TOY (Guangdong) Technology Co., Ltd.) (ii) | | PRC | | RMB5,000,000 | | 100% | | Wholesale and retail of pop toy products | Mingyou Industrial Investment (Guangzhou) Co., Ltd. (i)(ii) | | PRC | | RMB2,126,000,000 | | 100% | | Development of headquarters building | Guangdong Juncai International Trading Co., Ltd (ii) | | PRC | | RMB2,808,118,134 | | 100% | | Investment holding |
Notes: (i)These entities are wholly-owned foreign companies established in the PRC. (ii)These entities are limited liability companies established in the PRC.
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