07:50 AM EDT, 06/06/2025 (MT Newswires) -- Miniso Group ( MNSO ) said in a regulatory filing Friday that it is evaluating a potential spin-off listing of its Top Toy unit.

The company said the plan is at a preliminary stage and will depend on market conditions and other factors. There is no assurance as to the timing or venue of listing, Miniso ( MNSO ) added.

Bloomberg reported Wednesday that Miniso ( MNSO ) has hired JPMorgan Chase and UBS to manage a possible Hong Kong IPO of the unit.

Top Toy's revenue rose 58.9% in the March quarter, according to Reuters.

Shares of Miniso ( MNSO ) were down 1.9% in recent premarket activity Friday.