MIXUE Group reported first-half 2026 revenue of RMB 15.22 billion, up 2.3% year-on-year, driven mainly by a 2.1% increase in sales of goods and equipment to RMB 14.80 billion and a 10.0% rise in franchise and related service income to RMB 418.20 million.

\n\nGross profit fell 1.6% to RMB 4.63 billion as gross margin slipped 1.2 percentage points to 30.4% on higher input costs linked to quality upgrades. Operating expenses rose sharply—selling and distribution costs up 22.9% to RMB 1.12 billion and administrative expenses up 39.4% to RMB 610.00 million—offsetting modest topline growth. As a result, net profit declined 14.7% to RMB 2.32 billion, and basic earnings per share dropped to RMB 6.05 from RMB 7.23.

\n\nThe balance sheet remained solid with total assets of RMB 32.87 billion and total equity of RMB 27.06 billion. Cash and bank balances increased 22.6% since year-end to RMB 13.55 billion, while interest-bearing debt was fully repaid, leaving a gearing ratio of 17.7%. Net current assets stood at RMB 19.09 billion.

\n\nCapital expenditure reached RMB 289.37 million and outstanding commitments amounted to RMB 204.51 million, mainly for new production facilities. No significant investments, acquisitions or charges on assets were recorded.

\n\nThe store network expanded to 63,987 outlets across 17 countries, up from 53,014 a year earlier. Mainland China accounted for 59,609 stores, with 34,590 located in third-tier cities and below. Overseas stores totalled 4,378 after targeted optimisation in Indonesia and Vietnam. Franchisees numbered 29,775 versus 23,404 a year ago; self-operated stores increased to 36 following the December 2025 acquisition of FULU Fresh Beer.

\n\nManagement reiterated its “Multi-brand, Globalisation and Digital Intelligence” strategy, highlighting supply-chain upgrades, smart drink dispensers now installed in over 18,000 MIXUE stores, and continued brand-IP development around the Snow King character.

\n\nThe Board proposed a special dividend of RMB 2.65 per share—equivalent to approximately RMB 1.01 billion—payable on 6 November 2026, subject to shareholder approval at an upcoming EGM.

\n\nLooking ahead, MIXUE Group plans to maintain quality-led domestic expansion, deepen presence in Southeast Asia, and pursue measured entry into new markets, supported by ongoing investment in supply chain capacity, digital platforms and brand content.