MINISO Group Announces December Quarter 2023 Unaudited Financial Results
- Significant revenue growth of 54.0% year over year and 1.3% quarter over quarter.
- Impressive gross profit increase of 66.2% year over year and 4.7% quarter over quarter.
- Operating profit growth of 71.0% year over year.
- Profit for the period increased by 77.3% year over year.
- Adjusted net profit rose by 77.0% year over year.
- Adjusted EBITDA increased by 66.8% year over year.
- Expansion of MINISO stores by 973 year over year and 298 quarter over quarter.
- Entry into 4 new markets in the December Quarter.
- Growth in the number of TOP TOY stores by 31 year over year and 26 quarter over quarter.
- None.
Insights
The reported financial performance of MINISO Group indicates a robust year-over-year growth in revenue, gross profit, operating profit and adjusted net profit. With a 54.0% increase in revenue and a 77.3% increase in profit for the period, these figures suggest a significant expansion in the company's market presence and operational efficiency. The gross margin improvement from 40.0% to 43.1% reflects a strategic success in cost management or product mix optimization, which is crucial for retail companies to maintain competitiveness.
Furthermore, the operational expansion, as seen by the addition of 973 stores, demonstrates aggressive growth strategies, particularly in international markets. This not only diversifies the company's revenue streams but also mitigates risks associated with single-market dependence. The entry into four new markets suggests a confident global outlook by the company. However, rapid expansion can also entail risks such as brand dilution or operational challenges and it will be important to monitor how MINISO manages these potential issues.
The significant year-over-year increases in adjusted net profit and adjusted EBITDA, by 77.0% and 66.8% respectively, indicate a strong financial performance and operational leverage. An increase in adjusted net margin from 15.0% to 17.2% also highlights improved profitability, which is a positive signal to investors regarding the company's earnings quality. The improved EBITDA margin suggests that the company is not only increasing its sales but is also becoming more efficient in its operations.
Investors should note that such performance may positively influence the stock price as it reflects the company's ability to scale profitably. Nonetheless, it is essential to consider the sustainability of this growth, given the volatile nature of the retail industry and the potential impact of macroeconomic factors.
The expansion of MINISO's store count and its entry into additional markets indicate an aggressive pursuit of market share in the value retail segment. This strategy can be seen as a response to the growing global demand for affordable lifestyle products. The increase in the number of stores, both domestically and overseas, also reflects confidence in consumer spending patterns despite potential economic headwinds.
However, the company's rapid growth must be weighed against the backdrop of global economic conditions, including trade tensions, currency fluctuations and supply chain disruptions. These factors can significantly impact the retail sector and should be considered when evaluating the company's long-term growth trajectory and resilience.
Financial Highlights for the December Quarter
- Revenue was
RMB3,841.3 million (US ), representing an increase of$541.0 million 54.0% year over year and1.3% quarter over quarter. - Gross profit was
RMB1,657.3 million (US ), representing an increase of$233.4 million 66.2% year over year and4.7% quarter over quarter. - Gross margin was
43.1% , compared to40.0% in the same period of 2022 and41.8% in the previous quarter. - Operating profit was
RMB765.4 million (US ), representing an increase of 71.0 % year over year, compared to$107.8 million RMB788.3 million in the previous quarter. - Profit for the period was
RMB637.8 million (US ), representing an increase of$89.8 million 77.3% year over year, compared toRMB618.3 million in the previous quarter. - Adjusted net profit(1) was
RMB660.5 million (US ), representing an increase of$93.0 million 77.0% year over year, compared toRMB642.0 million in the previous quarter. - Adjusted net margin(1) was
17.2% , compared to15.0% in the same period of 2022 and16.9% in the previous quarter. - Adjusted EBITDA(1) was
RMB995.3 million (US ), representing an increase of$140.2 million 66.8% year over year, compared toRMB1,014.3 million in the previous quarter. - Adjusted EBITDA margin(1) was
25.9% , compared to23.9% in the same period of 2022 and26.8% in the previous quarter.
Operational Highlights for the December Quarter
- Number of MINISO stores reached 6,413 as of December 31, 2023, increasing by 973 stores year over year and 298 stores quarter over quarter.
- Number of MINISO stores in
China was 3,926 as of December 31, 2023, increasing by 601 stores year over year and 124 stores quarter over quarter. - Number of MINISO stores in overseas markets was 2,487 as of December 31, 2023, increasing by 372 stores year over year and 174 stores quarter over quarter.
- The Company entered 4 additional markets in the December Quarter, marking its entry into the 110th overseas market.
- Number of TOP TOY stores was 148 as of December 31, 2023, increasing by 31 stores year over year and 26 stores quarter over quarter.
Note: |
(1) See the sections titled "Non-IFRS Financial Measures" and "Reconciliation of Non-IFRS Financial Measures" |
The following table provides a breakdown of the number of MINISO and TOP TOY stores as well as their year-over-year and quarter-over-quarter changes as of the relevant dates:
As of | |||||
December | September | December | YoY | QoQ | |
Number of MINISO stores(1) | 5,440 | 6,115 | 6,413 | 973 | 298 |
3,325 | 3,802 | 3,926 | 601 | 124 | |
—Directly operated stores | 16 | 20 | 26 | 10 | 6 |
—Third-party stores | 3,309 | 3,782 | 3,900 | 591 | 118 |
Overseas | 2,115 | 2,313 | 2,487 | 372 | 174 |
—Directly operated stores | 153 | 202 | 238 | 85 | 36 |
—Third-party stores | 1,962 | 2,111 | 2,249 | 287 | 138 |
Number of TOP TOY stores(2) | 117 | 122 | 148 | 31 | 26 |
—Directly operated stores | 8 | 9 | 14 | 6 | 5 |
—Third-party stores | 109 | 113 | 134 | 25 | 21 |
Notes: |
(1) "MINISO stores" refers to the offline stores operated under the "MINISO" brand, including those directly |
(2) "TOP TOY stores" refers to the offline stores operated under the "TOP TOY" brand, including those directly |
For more information about MINISO stores, please refer to "Unaudited Additional Information" in this press release.
Mr. Guofu Ye, Founder, Chairman, and CEO of MINISO, commented, "We capped off a remarkable year of 2023 with another strong quarter, with all of our key performance metrics, including revenue, gross margin, and net profit, once again hitting historical highs. Revenue increased by
Mr. Ye continued, "We added more than 1,000 net new stores globally in 2023, our fastest speed of store openings ever. Despite the potential short-term uncertainties in our way to globalization, we remain optimistic about its long-term prospects and will be committed to fully diversifying our operational risks in overseas market. As we shared on our Investor Day, we currently target to open 900-1,100 net new stores each year from 2024-2028 and maintain a revenue compound annual growth rate of no less than
Mr. Eason Zhang, CFO of MINISO, commented, "Gross margin for this December quarter reached
Mr. Zhang added, "We are also pleased to announce a cash dividend of
Recent Developments
Operational Update
According to the Company's preliminary estimates, its major operations achieved the following updates:
January and February 2024: For the two months ended February 29, GMV of MINISO's offline stores in
Change of Financial Year End Date
In January, the board of the directors of the Company (the "Board") resolved to change the Company's financial year end date from June 30 to December 31 with immediate effect. Accordingly, going forward, the Company will file its annual reports for the period of 12 months from January 1 to December 31 within the first four months of the following year.
Highlights of MINISO Investor Day
On January 18, 2024, the Company hosted the MINISO 2024 Investor Day to enhance communications and share development strategy of the Company for the next five years with the investors. The Company brought up its vision of steering itself to become the world's No.1 IP design retail group with an emphasis on production innovation (IP design), affordability and globalization.
Dividend Declaration
On March 12, 2024, the Board approved the distribution of a special cash dividend in the amount of
For holders of ordinary shares, in order to qualify for the special dividend, all valid documents for the transfer of shares accompanied by the relevant share certificates must be lodged for registration with the Company's
Unaudited Financial Results for the December Quarter
Revenue was
Revenue from
Revenue from overseas markets was
For more information on the composition and year-over-year change of revenue, please refer to "Unaudited Additional Information" in this press release.
Cost of sales was
Gross profit was
Gross margin was
Other income was
Selling and distribution expenses were
General and administrative expenses were
Other net income was
Operating profit was
Net finance income was
Profit for the period was
Adjusted net profit, which represents profit for the period excluding equity-settled share-based payment expenses, was
Adjusted net margin was
Adjusted EBITDA was
Adjusted EBITDA margin was
Basic and diluted earnings per ADS were both
Adjusted basic and diluted earnings per ADS were both
Conference Call
The Company's management will hold an earnings conference call at 5:00 A.M. Eastern Time on Tuesday, March 12, 2024 (5:00 P.M. Beijing Time on the same day) to discuss the financial results. The conference call can be accessed by the following Zoom link or dialing the following numbers:
Access 1
Join Zoom meeting.
Zoom link: https://us06web.zoom.us/j/88486834973?pwd=hLtL1nO9NpERFFfgHFZVIZKCbqrlbB.1
Meeting Number: 884 8683 4973
Meeting Passcode: 9896
Access 2
Listeners may access the call by dialing the following numbers by using the same meeting number and passcode with access 1.
+1 213 338 8477 (or +1 646 518 9805) | |
+852 5803 3730 (or +852 5803 3731) | |
+44 203 481 5237 (or +44 131 460 1196) | |
+33 1 7037 9729 (or +33 1 7037 2246) | |
+65 3158 7288 (or +65 3165 1065) | |
+1 438 809 7799 (or +1 204 272 7920) |
Access 3
Listeners can also access the meeting through the Company's investor relations website at https://ir.miniso.com/.
The replay will be available approximately two hours after the conclusion of the live event at the Company's investor relations website at https://ir.miniso.com/.
About MINISO Group
MINISO Group is a global value retailer offering a variety of trendy lifestyle products featuring IP design. The Company serves consumers primarily through its large network of MINISO stores, and promotes a relaxing, treasure-hunting and engaging shopping experience full of delightful surprises that appeals to all demographics. Aesthetically pleasing design, quality and affordability are at the core of every product in MINISO's wide product portfolio, and the Company continually and frequently rolls out products with these qualities. Since the opening of its first store in
Exchange Rate
The
Non-IFRS Financial Measures
In evaluating the business, MINISO considers and uses adjusted net profit, adjusted net margin, adjusted EBITDA, adjusted EBITDA margin, adjusted basic and diluted net earnings per share and adjusted basic and diluted net earnings per ADS as supplemental measures to review and assess its operating performance. The presentation of these non-IFRS financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with IFRS. MINISO defines adjusted net profit as profit for the period excluding equity-settled share-based payment expenses. MINISO calculates adjusted net margin by dividing adjusted net profit by revenue for the same period. MINISO defines adjusted EBITDA as adjusted net profit plus depreciation and amortization, finance costs and income tax expense. Adjusted EBITDA margin is computed by dividing adjusted EBITDA by revenue for the period. MINISO computes adjusted basic and diluted net earnings per ADS by dividing adjusted net profit attributable to the equity shareholders of the Company by the number of ADSs represented by the number of ordinary shares used in the basic and diluted earnings per share calculation on an IFRS basis. MINISO computes adjusted basic and diluted net earnings per share in the same way as it calculates adjusted basic and diluted net earnings per ADS, except that it uses the number of ordinary shares used in the basic and diluted earnings per share calculation on an IFRS basis as the denominator instead of the number of ADSs represented by these ordinary shares.
MINISO presents these non-IFRS financial measures because they are used by the management to evaluate its operating performance and formulate business plans. These non-IFRS financial measures enable the management to assess its operating results without considering the impacts of the aforementioned non-cash and other adjustment items that MINISO does not consider to be indicative of its operating performance in the future. Accordingly, MINISO believes that the use of these non-IFRS financial measures provides useful information to investors and others in understanding and evaluating its operating results in the same manner as the management and Board of directors.
These non-IFRS financial measures are not defined under IFRS and are not presented in accordance with IFRS. These non-IFRS financial measures have limitations as analytical tools. One of the key limitations of using these non-IFRS financial measures is that they do not reflect all items of income and expense that affect MINISO's operations. Further, these non-IFRS financial measures may differ from the non-IFRS information used by other companies, including peer companies, and therefore their comparability may be limited.
These non-IFRS financial measures should not be considered in isolation or construed as alternatives to profit, net profit margin, basic and diluted earnings per share and basic and diluted earnings per ADS, as applicable, or any other measures of performance or as indicators of MINISO's operating performance. Investors are encouraged to review MINISO's historical non-IFRS financial measures in light of the most directly comparable IFRS measures, as shown below. The non-IFRS financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting the usefulness of such measures when analyzing MINISO's data comparatively. MINISO encourages you to review its financial information in its entirety and not rely on a single financial measure.
For more information on the non-IFRS financial measures, please see the table captioned "Reconciliation of Non-IFRS Financial Measures" set forth at the end of this press release.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the
Investor Relations Contact:
Raine Hu
MINISO Group Holding Limited
Email: ir@miniso.com
Phone: +86 (20) 36228788 Ext.8039
MINISO GROUP HOLDING LIMITED | ||||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION | ||||||||
(Expressed in thousands) | ||||||||
As at | As at | |||||||
June 30, 2023 | December 31, 2023 | |||||||
(Audited) | (Unaudited) | |||||||
RMB'000 | RMB'000 | US$'000 | ||||||
ASSETS | ||||||||
Non-current assets | ||||||||
Property, plant and equipment | 534,634 | 769,306 | 108,355 | |||||
Right-of-use assets | 2,552,600 | 2,900,860 | 408,578 | |||||
Intangible assets | 25,277 | 19,554 | 2,754 | |||||
Goodwill | 21,069 | 21,643 | 3,048 | |||||
Deferred tax assets | 161,617 | 104,130 | 14,666 | |||||
Other investments | 73,870 | 90,603 | 12,761 | |||||
Trade and other receivables | 74,641 | 135,796 | 19,126 | |||||
Term deposits | 100,000 | 100,000 | 14,085 | |||||
Interests in equity-accounted | - | 15,783 | 2,223 | |||||
3,543,708 | 4,157,675 | 585,596 | ||||||
Current assets | ||||||||
Other investments | 205,329 | 252,866 | 35,615 | |||||
Inventories | 1,450,519 | 1,922,241 | 270,742 | |||||
Trade and other receivables | 1,150,156 | 1,518,357 | 213,856 | |||||
Cash and cash equivalents | 6,489,213 | 6,415,441 | 903,596 | |||||
Restricted cash | 27,073 | 7,970 | 1,123 | |||||
Term deposits | 581,715 | 210,759 | 29,685 | |||||
9,904,005 | 10,327,634 | 1,454,617 | ||||||
Total assets | 13,447,713 | 14,485,309 | 2,040,213 | |||||
EQUITY | ||||||||
Share capital | 95 | 95 | 13 | |||||
Additional paid-in capital | 7,254,871 | 6,331,375 | 891,756 | |||||
Other reserves | 1,106,718 | 1,114,568 | 156,983 | |||||
Retained earnings | 539,331 | 1,722,157 | 242,561 | |||||
Equity attributable to equity | 8,901,015 | 9,168,195 | 1,291,313 | |||||
Non-controlling interests | 17,253 | 23,022 | 3,243 | |||||
Total equity | 8,918,268 | 9,191,217 | 1,294,556 | |||||
LIABILITIES | ||||||||
Non-current liabilities | ||||||||
Contract liabilities | 46,754 | 40,954 | 5,768 | |||||
Loans and borrowings | 7,215 | 6,533 | 920 | |||||
Other payables | - | 12,411 | 1,748 | |||||
Lease liabilities | 556,801 | 797,986 | 112,394 | |||||
Deferred income | 33,080 | 29,229 | 4,117 | |||||
643,850 | 887,113 | 124,947 | ||||||
Current liabilities | ||||||||
Loans and borrowings | - | 726 | 102 | |||||
Trade and other payables | 3,019,302 | 3,389,826 | 477,447 | |||||
Contract liabilities | 292,887 | 324,028 | 45,638 | |||||
Lease liabilities | 328,933 | 447,319 | 63,004 | |||||
Deferred income | 6,778 | 6,644 | 936 | |||||
Current taxation | 237,695 | 238,436 | 33,583 | |||||
3,885,595 | 4,406,979 | 620,710 | ||||||
Total liabilities | 4,529,445 | 5,294,092 | 745,657 | |||||
Total equity and liabilities | 13,447,713 | 14,485,309 | 2,040,213 | |||||
MINISO GROUP HOLDING LIMITED | ||||||||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS | ||||||||||||
(Expressed in thousands, except for per ordinary share and per ADS data) | ||||||||||||
Three months ended December 31, | Six months ended December 31, | |||||||||||
2022 | 2023 | 2022 | 2023 | |||||||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||
RMB'000 | RMB'000 | US$ '000 | RMB'000 | RMB'000 | US$ '000 | |||||||
Revenue | 2,494,434 | 3,841,313 | 541,038 | 5,266,878 | 7,632,467 | 1,075,010 | ||||||
Cost of sales | (1,497,353) | (2,183,972) | (307,606) | (3,281,218) | (4,391,428) | (618,520) | ||||||
Gross profit | 997,081 | 1,657,341 | 233,432 | 1,985,660 | 3,241,039 | 456,490 | ||||||
Other income | 7,892 | 5,556 | 783 | 14,311 | 18,993 | 2,675 | ||||||
Selling and distribution expenses | (416,782) | (722,225) | (101,723) | (798,127) | (1,363,114) | (191,991) | ||||||
General and administrative expenses | (146,282) | (187,137) | (26,358) | (313,908) | (357,689) | (50,379) | ||||||
Other net income | 8,815 | 20,152 | 2,838 | 72,850 | 21,105 | 2,973 | ||||||
Credit loss on trade and other receivables | (3,162) | (3,746) | (528) | (3,716) | (2,080) | (293) | ||||||
Impairment loss on non-current assets | - | (4,547) | (640) | - | (4,547) | (640) | ||||||
Operating profit | 447,562 | 765,394 | 107,804 | 957,070 | 1,553,707 | 218,835 | ||||||
Finance income | 32,429 | 54,603 | 7,691 | 64,684 | 123,969 | 17,461 | ||||||
Finance costs | (9,161) | (13,721) | (1,933) | (16,345) | (25,202) | (3,550) | ||||||
Net finance income | 23,268 | 40,882 | 5,758 | 48,339 | 98,767 | 13,911 | ||||||
Share of profit of equity-accounted | - | 268 | 38 |
- | 268 | 38 | ||||||
Profit before taxation | 470,830 | 806,544 | 113,600 | 1,005,409 | 1,652,742 | 232,784 | ||||||
Income tax expense | (111,063) | (168,742) | (23,767) | (241,498) | (396,665) | (55,869) | ||||||
Profit for the period | 359,767 | 637,802 | 89,833 | 763,911 | 1,256,077 | 176,915 | ||||||
Attributable to: | ||||||||||||
Equity shareholders of the Company | 352,456 | 635,814 | 89,553 | 764,090 | 1,248,405 | 175,834 | ||||||
Non-controlling interests | 7,311 | 1,988 | 280 | (179) | 7,672 | 1,081 | ||||||
Earnings per ordinary share | ||||||||||||
-Basic | 0.28 | 0.51 | 0.07 | 0.61 | 1.00 | 0.14 | ||||||
-Diluted | 0.28 | 0.51 | 0.07 | 0.61 | 1.00 | 0.14 | ||||||
Earnings per ADS | ||||||||||||
(Each ADS represents 4 ordinary | ||||||||||||
-Basic | 1.12 | 2.04 | 0.29 | 2.44 | 4.00 | 0.56 | ||||||
-Diluted | 1.12 | 2.04 | 0.29 | 2.44 | 4.00 | 0.56 | ||||||
MINISO GROUP HOLDING LIMITED | |||||||||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME | |||||||||||||
(Expressed in thousands) | |||||||||||||
Three months ended December 31, | Six months ended December 31, | ||||||||||||
2022 | 2023 | 2022 | 2023 | ||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | ||||||||||
RMB'000 | RMB'000 | US$ '000 | RMB'000 | RMB'000 | US$ '000 | ||||||||
Profit for the period | 359,767 | 637,802 | 89,833 | 763,911 | 1,256,077 | 176,915 | |||||||
Items that may be | |||||||||||||
Exchange differences on | (40,110) | (14,624) | (2,060) | (13,634) | (32,504) | (4,578) | |||||||
Other comprehensive loss | (40,110) | (14,624) | (2,060) | (13,634) | (32,504) | (4,578) | |||||||
Total comprehensive | 319,657 | 623,178 | 87,773 | 750,277 | 1,223,573 | 172,337 | |||||||
Attributable to: | |||||||||||||
Equity shareholders of the | 314,490 | 621,230 | 87,499 | 746,698 | 1,217,804 | 171,524 | |||||||
Non-controlling interests | 5,167 | 1,948 | 274 | 3,579 | 5,769 | 813 | |||||||
MINISO GROUP HOLDING LIMITED | ||||||||||||
RECONCILIATION OF NON-IFRS FINANCIAL MEASURES | ||||||||||||
(Expressed in thousands, except for per ordinary share, per ADS data and percentages) | ||||||||||||
Three months ended December 31, | Six months ended December 31, | |||||||||||
2022 | 2023 | 2022 | 2023 | |||||||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||
RMB'000 | RMB'000 | US$'000 | RMB'000 | RMB'000 | US$'000 | |||||||
Reconciliation of profit for the | ||||||||||||
Profit for the period | 359,767 | 637,802 | 89,833 | 763,911 | 1,256,077 | 176,915 | ||||||
Add back: | ||||||||||||
Equity-settled share-based | 13,353 | 22,663 | 3,192 | 26,580 | 46,432 | 6,540 | ||||||
Adjusted net profit | 373,120 | 660,465 | 93,025 | 790,491 | 1,302,509 | 183,455 | ||||||
Adjusted net margin | 15.0 % | 17.2 % | 17.2 % | 15.0 % | 17.1 % | 17.1 % | ||||||
Attributable to: | ||||||||||||
Equity shareholders of the | 365,809 | 658,477 | 92,745 | 790,670 | 1,294,837 | 182,374 | ||||||
Non-controlling interests | 7,311 | 1,988 | 280 | (179) | 7,672 | 1,081 | ||||||
Adjusted net earnings per | ||||||||||||
-Basic | 0.29 | 0.53 | 0.07 | 0.64 | 1.04 | 0.15 | ||||||
-Diluted | 0.29 | 0.53 | 0.07 | 0.63 | 1.04 | 0.15 | ||||||
Adjusted net earnings | ||||||||||||
-Basic | 1.16 | 2.12 | 0.30 | 2.56 | 4.16 | 0.59 | ||||||
-Diluted | 1.16 | 2.12 | 0.30 | 2.52 | 4.16 | 0.59 | ||||||
Reconciliation of adjusted net | ||||||||||||
Adjusted net profit | 373,120 | 660,465 | 93,025 | 790,491 | 1,302,509 | 183,455 | ||||||
Add back: | ||||||||||||
Depreciation and amortization | 103,506 | 152,373 | 21,461 | 212,163 | 285,241 | 40,175 | ||||||
Finance costs | 9,161 | 13,721 | 1,933 | 16,345 | 25,202 | 3,550 | ||||||
Income tax expense | 111,063 | 168,742 | 23,767 | 241,498 | 396,665 | 55,869 | ||||||
Adjusted EBITDA | 596,850 | 995,301 | 140,186 | 1,260,497 | 2,009,617 | 283,049 | ||||||
Adjusted EBITDA margin | 23.9 % | 25.9 % | 25.9 % | 23.9 % | 26.3 % | 26.3 % | ||||||
Note: |
(1) Adjusted basic and diluted net earnings per ordinary share are computed by dividing adjusted net profit attributable to |
MINISO GROUP HOLDING LIMITED | ||||||||||||||||
UNAUDITED ADDITIONAL INFORMATION | ||||||||||||||||
(Expressed in millions, except for percentages) | ||||||||||||||||
Three months ended December 31, | Six months ended December 31, | |||||||||||||||
2022 | 2023 |
YoY
| 2022 | 2023 |
YoY
| |||||||||||
RMB | RMB | US$ | RMB | RMB | US$ | |||||||||||
Revenue | ||||||||||||||||
Domestic Operations | 1,508 | 2,347 | 331 | 56 % | 3,360 | 4,843 | 682 | 44 % | ||||||||
-MINISO Brand | 1,386 | 2,156 | 304 | 56 % | 3,086 | 4,462 | 628 | 45 % | ||||||||
-TOP TOY Brand | 99 | 188 | 26 | 90 % | 223 | 369 | 52 | 65 % | ||||||||
-Others | 23 | 3 | 1 | (87) % | 51 | 12 | 2 | (76) % | ||||||||
International Operations | 986 | 1,494 | 210 | 51 % | 1,907 | 2,789 | 393 | 46 % | ||||||||
Total | 2,494 | 3,841 | 541 | 54 % | 5,267 | 7,632 | 1,075 | 45 % | ||||||||
MINISO GROUP HOLDING LIMITED | |||||||||
UNAUDITED ADDITIONAL INFORMATION | |||||||||
As of | |||||||||
December 31, | September 30, | December 31, | YoY | QoQ | |||||
Number of MINISO | |||||||||
First-tier cities | 453 | 499 | 522 | 69 | 23 | ||||
Second-tier cities | 1,395 | 1,554 | 1,617 | 222 | 63 | ||||
Third- or lower-tier | 1,477 | 1,749 | 1,787 | 310 | 38 | ||||
Total | 3,325 | 3,802 | 3,926 | 601 | 124 | ||||
MINISO GROUP HOLDING LIMITED | ||||||||||||
UNAUDITED ADDITIONAL INFORMATION | ||||||||||||
As of | ||||||||||||
December 31, | September 30, | December 31, | YoY | QoQ | ||||||||
Number of MINISO | ||||||||||||
Asian countries | 1,166 | 1,264 | 1,333 | 167 | 69 | |||||||
589 | 654 | 724 | 135 | 70 | ||||||||
185 | 218 | 231 | 46 | 13 | ||||||||
Others | 175 | 177 | 199 | 24 | 22 | |||||||
Total | 2,115 | 2,313 | 2,487 | 372 | 174 | |||||||
View original content:https://www.prnewswire.com/news-releases/miniso-group-announces-december-quarter-2023-unaudited-financial-results-302086166.html
SOURCE MINISO Group Holding Limited
FAQ
What were MINISO's revenue and gross profit for the December Quarter?
How did MINISO's operating profit and profit for the period change year over year?
What was the adjusted net profit and adjusted EBITDA for MINISO in the December Quarter?
How many MINISO stores were there as of December 31, 2023, and how did it change from the previous year?
In how many overseas markets did MINISO enter in the December Quarter?
What was the growth in the number of TOP TOY stores for MINISO?
