MINISO Group Holding (MNSO) Cash Flow: Operating & Free Cash Flow

MINISO Group Holding (MNSO) Cash Flow Statement

In fiscal 2025 (fiscal year ended Mar 31, 2026), MINISO Group Holding generated CNY 2.62B of operating cash flow and spent CNY 970.47M on capital expenditures. That left free cash flow of CNY 1.65B, up 17.5% from CNY 1.41B a year earlier, or 7.7% of revenue. It returned CNY 1.84B to shareholders through CNY 1.32B in dividends and CNY 520.67M in share buybacks.

MINISO Group Holding Cash Flow Statement Analysis

Values in billions CNY

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for MINISO Group Holding Limited (MNSO) - Annual data in billions CNY
Breakdown	FY 2025	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2019	FY 2018
Period ending	Mar 2026	Dec 2025	Dec 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020	Jun 2019
Operating Activities
Net Income	1.17	1.21	2.64	2.25	1.78	-1.43	-0.26	-0.29
Depreciation & Amortization	1.17	1.21	0.85	0.06	0.08	0.27	0.27	0.19
Deferred Income Tax	0.00	0.70	0.71	0.55	0.27	0.21	0.00	0.00
Stock Based Compensation	0.00	0.37	0.09	0.06	0.08	0.28	0.36	0.12
Change in Working Capital	-1.31	-1.36	-1.10	-0.52	0.35	0.28	-0.21	-0.32
Change in Accounts Receivable	-1.00	-1.03	-0.84	-0.63	-0.19	-0.08	-0.12	0.08
Change in Inventory	-0.89	-0.92	-0.83	-0.25	0.31	-0.09	-0.09	-0.39
Change in Accounts Payable	0.56	0.58	0.56	-0.03	0.18	0.00	0.00	0.00
Change in Other Working Capital	0.02	-0.02	-0.09	0.23	0.25	0.45	0.00	-0.01
Other Operating Activities	1.59	1.15	-0.09	0.23	0.25	1.31	0.66	1.33
Net Cash from Operating Activities	2.62	2.58	2.17	1.67	1.41	0.92	0.83	1.04
Investing Activities
Capital Expenditures	-0.97	-1.00	-0.76	-0.17	-1.23	-0.18	-0.06	-0.12
Acquisitions	-0.16	-6.51	-0.02	0.00	-0.68	-0.01	0.00	0.00
Purchases of Investments	-30.55	-25.08	-14.42	-8.64	-12.86	0.00	0.00	0.00
Sales/Maturities of Investments	24.66	25.35	14.56	8.17	12.59	0.00	0.00	0.00
Other Investing Activities	0.00	0.16	0.23	0.88	-0.12	-0.33	0.52	-0.09
Net Cash from Investing Activities	-7.02	-7.02	-0.53	-0.29	-2.13	-0.52	0.46	-0.21
Financing Activities
Debt Repayment	4.03	-0.60	-0.73	-0.35	-0.32	-0.63	0.21	-0.18
Common Stock Issued	3.61	0.00	0.00	0.47	0.00	4.18	0.00	0.00
Common Stock Repurchased	-0.52	-0.54	-0.31	-0.04	-0.09	0.00	0.00	0.00
Dividends Paid	-1.32	-1.36	-1.24	-0.37	-0.31	0.00	-0.33	0.00
Other Financing Activities	-0.87	-0.65	0.00	-0.04	-0.02	-0.01	0.00	0.80
Net Cash from Financing Activities	4.92	4.97	-1.72	-0.33	-0.73	3.54	-0.12	0.62
Summary
Effect of Forex Changes on Cash	0.28	-0.04	0.00	0.09	0.03	-0.02	0.00	0.01
Net Change in Cash	0.81	0.49	-0.09	1.05	-1.45	3.92	1.17	1.69
Cash at Beginning of Period	6.06	6.33	6.42	5.35	6.77	2.85	1.69	0.00
Cash at End of Period	6.88	6.82	6.33	6.49	5.35	6.77	2.85	1.69
Free Cash Flow	1.65	1.58	1.41	1.49	0.17	0.74	0.77	0.92
Supplemental Disclosures
Interest Paid	-	-	-	-	0.00	0.00	-	-
Income Taxes Paid	-	-	0.83	0.42	0.23	0.19	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About MINISO Group Holding Cash Flow

What is MINISO Group Holding's free cash flow?

MINISO Group Holding generated free cash flow of CNY 1.65B in fiscal 2025 (fiscal year ended Mar 31, 2026), operating cash flow of CNY 2.62B minus CNY 970.47M of capital expenditures. That was up 17.5% from CNY 1.41B a year earlier. Free cash flow equaled 7.7% of revenue.

How much does MINISO Group Holding spend on capital expenditures?

MINISO Group Holding spent CNY 970.47M on capital expenditures in fiscal 2025, compared with CNY 762.54M a year earlier. That equals 37.0% of operating cash flow.

Does MINISO Group Holding pay dividends or buy back shares?

Yes. In fiscal 2025 MINISO Group Holding returned CNY 1.32B in dividends and CNY 520.67M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition