ALERT: Kaplan Fox is investigating a potential fraud: Miniso Group Holding Ltd. | New

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NEW YORK, Aug. 03, 2022 (GLOBE NEWSWIRE) — Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors in MINISO Group Holding Ltd. (NYSE: MNSO).

MINISO Group Holding Ltd., a China-based investment holding company, is engaged in the retail and wholesale of lifestyle products in China, Asia, the Americas and Europe.

On July 26, 2022, short seller Blue Orca released a report regarding the company alleging that it had made misrepresentations about its core business model. The report also alleges that “the president diverted hundreds of millions from the public through opaque Caribbean jurisdictions as a middleman in a twisted headquarters deal.” The report alleges that “rather than operating a high-margin, asset-light franchise model, evidence indicates that hundreds of MINISO stores are owned and operated by company executives or persons closely associated with MINISO and its president. As a result, we believe that MINISO is concealing the costs of these stores from investors. Not only does this undermine the authenticity of the financial statements published by MINISO, but it suggests that MINISO should be trading at a fraction of its current share price. Following this news, the price of a US depository MINISO share fell by almost 15%.

If you have invested in MINISO and are experiencing significant losses, we would like to discuss our investigation, please contact us by emailing pmayer@kaplanfox.com or calling (646) 315-9003.

Kaplan Fox is a leading national law firm specializing in complex litigation with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey. With over 35 years of experience in complex litigation, Kaplan Fox offers the professional experience and background that clients demand. By pursuing cases at the federal and state levels, Kaplan Fox has successfully shaped the law by winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you can visit our website at www.kaplanfox.com.

This press release may be considered attorney advertising in certain jurisdictions under applicable law and ethics rules.

If you have any questions about this notice, your rights or your interests, please contact:

Frederic S. Fox

KAPLAN FOX & KILSHEIMER LLP

850 Third Avenue, 14th Floor

New York, New York 10022

(646) 315-9003

Email: ffox@kaplanfox.com

Laurence D. King

KAPLAN FOX & KILSHEIMER LLP

1999 Harrison Street, Suite 1560

Oakland, CA 94612

(415) 772-4704

Fax: (415) 772-4707

Email: lking@kaplanfox.com

Copyright 2022 GlobeNewswire, Inc.

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