MINISO Group to acquire an 80% stake in YGF Investment from YGF MC for $108m.

MINISO Group, a retailer offering a variety of design-led lifestyle products, agreed to acquire an 80% stake in YGF Investment from YGF MC, a joint venture YGF MC and MINISO, for $108m. After closing of the proposed purchase, MINISO will hold 100% equity interests in YGF Investment and will start to consolidate the financial results of YGF Investment into the company's financial statements. This new headquarters building, with about 104 thousand square meters in gross floor area, is estimated to be completed by 2025. This investment positions the company well for its future developments in terms of securing office space to accommodate future business expansion, saving long-term operating expenses and providing benefits in potential property appreciation.