SCHEDULE: MINISO Founders Update Majority Shareholding

MINISO Group Holding Limited's co-founders, Guofu Ye and Yunyun Yang, updated their beneficial ownership, revealing a combined 63.2% stake and the unwinding of a prior collar transaction.

Summary

• Guofu Ye and Yunyun Yang, co-founders of MINISO Group Holding Limited, collectively beneficially own 789,541,061 ordinary shares.
• This aggregate ownership represents 63.2% of the Issuer's total outstanding ordinary shares.
• The percentage is calculated based on 1,249,871,833 outstanding ordinary shares as of December 31, 2024.
• Their beneficial ownership is held through various British Virgin Islands entities, including Mini Investment Limited, Mini Investments SP1 Limited, YGF MC LIMITED, and YYY MC LIMITED.
• Mini Investments SP1 Limited unwound a prepaid forward contract and collar transaction in June 2025, resulting in the return of 14,000,000 ordinary shares previously used as credit support.

Sentiment

Score: 6

Explanation: The filing is largely neutral, reporting an update to beneficial ownership. The unwinding of a collar transaction for 14 million shares is a minor positive, indicating the return of these shares to direct control, which can be viewed favorably by investors.

Positives

• The unwinding of the prepaid forward contract and collar transaction for 14,000,000 shares in June 2025 returns these shares to the direct control of the beneficial owners, potentially reducing counterparty risk and increasing flexibility.
• The substantial beneficial ownership by co-founders Guofu Ye and Yunyun Yang (63.2%) indicates strong insider alignment with the company's long-term performance.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Management Comments

• Mr. Guofu Ye and Ms. Yunyun Yang make joint decisions on the exercise of the voting power of the shares owned by them through their holding vehicles, leading to their deemed beneficial ownership of a significant majority stake.

Industry Context

This filing is a routine beneficial ownership update, common for publicly traded companies, especially those with significant founder control. It does not provide information directly related to broader industry trends or competitive landscape, but it reinforces the strong insider control typical of many founder-led retail or consumer goods companies.

Corporate Governance

Related Party Transactions

• The beneficial ownership structure involves family trusts (YGF Trust for Mr. Ye and his family, YYY Trust for Ms. Yang and her family) and holding companies wholly owned by these trusts or by the co-founders directly, which are considered related parties to the principal beneficial owners.

Stakeholder Impact

• Shareholders: Provides updated transparency on the significant insider ownership and control, confirming the stability of the controlling stake held by the co-founders.
• Management: Reinforces the strong control and influence of the co-founders, Guofu Ye and Yunyun Yang, over the company's strategic direction and operations.

Key Dates

Recommendation

This Schedule 13G filing primarily updates the beneficial ownership structure of MINISO Group Holding Limited's co-founders. While the unwinding of a collar transaction for 14 million shares is noted, the filing does not contain new financial performance data, strategic shifts, or significant risks that would warrant a change in investment recommendation. It confirms the substantial insider control, which is a known factor for the company.

Keywords

MINISO, beneficial ownership, Schedule 13G, shareholding, insider ownership, Guofu Ye, Yunyun Yang, corporate governance, collar transaction