MINISO Group Holding Limited (ASX: MNSO) has announced that its board of directors has authorized and approved a new share repurchase program. Under this plan, the company may repurchase up to HK$2 billion worth of its shares and/or American Depositary Shares (ADS) in the open market over a 12-month period commencing from June 30, 2026.

The company expects to fund the repurchases under the 2026 share repurchase program using surplus cash from its balance sheet. The board expressed confidence in the company's business outlook and prospects, believing that the current share price is below its intrinsic value.

Under the previously extended 2024 share repurchase program, the company has already repurchased shares and/or ADS worth approximately HK$1.37 billion in the open market. By adopting the 2026 share repurchase program, the company aims to promote the interests of its shareholders, balancing the group's rapid growth with its commitment to delivering stable and predictable returns.

Following the market close on June 29, 2026, the company entered into renewed share repurchase agreements with a total value not exceeding approximately HK$800 million. This includes an automatic share repurchase plan of up to HK$400 million for repurchasing shares on The Stock Exchange of Hong Kong Limited, and repurchases of ADS on the New York Stock Exchange under Rule 10b5-1 of the U.S. Securities Exchange Act of 1934, with an amount not exceeding approximately US$51.3 million. Both components will fall within the overall repurchase authorization.

On the same day, the company also established a separate Rule 10b5-1 repurchase plan. This plan involves issuing irrevocable, non-discretionary trading instructions to a designated independent broker to repurchase its ADS on the New York Stock Exchange, with an amount not exceeding approximately US$51.3 million. This arrangement is designed to comply with Rule 10b5-1(c)(1)(i) and Rule 10b-18 (to the extent applicable) under the U.S. Securities Exchange Act of 1934.

Unless terminated earlier according to its terms, the Rule 10b5-1 repurchase plan will be effective from July 6, 2026, through December 31, 2026.