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MINISO Group Holding Limited (NYSE: MNSO; HKEX: 9896) is a global value retailer known for its wide array of trendy lifestyle products. Founded in 2013 and headquartered in Guangzhou, China, MINISO has quickly become a prominent name in the retail sector due to its vast network of stores and commitment to high-quality, aesthetically pleasing, and affordable products.
As a retailer, MINISO offers a broad range of items including home decor, small electronics, textiles, accessories, beauty tools, toys, cosmetics, personal care products, snacks, fragrances, perfumes, and stationery. The company operates primarily through its flagship MINISO brand, which focuses on design-led lifestyle products. It also operates the TOP TOY brand, which specializes in pop toys. MINISO generates the majority of its revenue from the MINISO brand, and a significant portion of this revenue comes from its extensive operations in China.
MINISO's unique business model emphasizes creating a treasure-hunting shopping experience that appeals to a broad demographic. This approach has allowed the company to build a massive global store network, which includes over 6,400 stores worldwide. The company's growth is fueled by frequent product rollouts that maintain a balance between trendy design, quality, and affordability.
Recent Achievements and Developments
- Financial Performance: For the December quarter of 2023, MINISO reported a revenue increase of 54% year-over-year to RMB3.84 billion. This growth was driven by a 32% increase in same-store sales in China and a 19% increase in overseas markets. The company's gross margin for the quarter reached 43.1%, and adjusted net profit rose by 77% year-over-year.
- Store Expansion: In 2023, MINISO added over 1,000 new stores globally, marking its fastest pace of store openings. The company plans to continue this growth trajectory with the aim of adding 900-1,100 net new stores annually from 2024 to 2028.
- IP Collaborations: MINISO has leveraged IP collaborations to enhance its product offerings and customer experience. Notable partnerships include collaborations with Sanrio, Barbie, Disney, Minions, and Care Bears. These collaborations have significantly contributed to the company's revenue, particularly in the North American market where IP products have driven a 128% annual revenue growth.
- Strategic Initiatives: The company is committed to becoming the world's leading IP design retail group. This strategy involves focusing on production innovation, affordability, and globalization. MINISO hosted an Investor Day in January 2024 to outline its five-year development plan, which includes maintaining a revenue compound annual growth rate of at least 20%.
- Dividend Declarations: In March 2024, the company declared a special cash dividend amounting to RMB651.5 million, approximately 50% of its adjusted net profit for the second half of 2023. Since its IPO, MINISO has returned RMB2.8 billion to shareholders.
- Operational Excellence: MINISO's robust supply chain, innovative product development, and strategic global expansion have positioned it well to optimize its expense structure and sustain a healthy margin profile.
MINISO's commitment to delivering happiness through its innovative and affordable products has resonated well with consumers worldwide. The company's strategic focus on IP product development, supply chain integration, and steady global expansion continues to drive its growth and profitability.
MINISO Group Holding (NYSE: MNSO; HKEX: 9896) has announced a HKD2 billion share repurchase program approved by its board of directors on August 30, 2024. The program will run for 12 months and allows the company to repurchase outstanding ordinary shares and/or American depositary shares. MINISO plans to fund the repurchases from surplus cash, expressing confidence in its business outlook and believing its current share price is below intrinsic value. The repurchases aim to promote shareholder interests and balance growth with stable returns. Purchases may be made on the open market, through private transactions, or other legal means, subject to market conditions and regulations. The program will be conducted under shareholder-approved mandates, with careful consideration to avoid triggering mandatory offer obligations.
MINISO Group reported strong financial results for Q2 2024 and H1 2024:
- Q2 revenue up 24.1% YoY to RMB4,035.2 million, surpassing RMB4 billion for first time
- Q2 gross profit up 36.9% YoY to RMB1,773.3 million
- Q2 gross margin reached record high of 43.9%
- Q2 adjusted net profit up 9.4% YoY to RMB625.0 million
- H1 revenue up 25.0% YoY to RMB7,758.7 million
- H1 gross profit up 37.9% YoY to RMB3,389.8 million
- H1 adjusted net profit up 17.8% YoY to RMB1,241.9 million
Key drivers were global store network expansion, strong overseas growth, and improved margins. The company declared an interim dividend and approved a new share repurchase program.
MINISO, the global lifestyle brand, celebrated the grand opening of its 200th store in the United States on August 24, 2024, at Santa Monica's 3rd Street Promenade. This milestone underscores MINISO's rapid expansion in the U.S. market, with new stores opening in key locations like Times Square and the American Dream Mall. The Santa Monica store, spanning over 3,700 square feet, features dedicated zones showcasing collaborations with popular IPs such as Disney, Sanrio, and Minions.
The store's opening highlighted MINISO's strategic use of global IPs to create meaningful connections with consumers. It also debuted the exclusive Disney Stamp blind box series, reflecting the brand's commitment to innovative product offerings. With 200 stores now established across North America, including over 20 U.S. states, MINISO continues to strengthen its position as a leading global lifestyle brand.
MINISO (NYSE: MNSO) has launched its Lucky 7 perfume series, inspired by the number 7's symbolism of luck and prosperity. The series, created in collaboration with seven internationally acclaimed perfumers, features six distinct fragrances: Classic, Muse, Goddess, Bloom, Starlight, and Passion. Each scent is designed to evoke feelings of confidence, optimism, and good fortune.
The perfumes debuted on August 18th at 11 stores in the USA, including MINISO's newly revamped store near Wall Street. The series will be rolled out across U.S. stores and internationally, with Indonesia launching at the end of August. MINISO is also hosting a global 'Lucky 7 Lifetime Version' online lottery starting August 20th, with seven winners receiving a 7.3-liter MINISO LUCKY 7 perfume.
MINISO Group Holding (NYSE: MNSO; HKEX: 9896), a global value retailer of trendy lifestyle products, has announced it will release its 2024 June quarter and interim results on August 30, 2024, before the U.S. market opens. The company will hold an earnings conference call at 5:00 A.M. Eastern Time (5:00 P.M. Beijing Time) on the same day to discuss the financial results.
Investors and analysts can access the call via Zoom or by dialing in from various countries. The replay will be available approximately two hours after the live event on MINISO's investor relations website. MINISO Group, known for its aesthetically pleasing and affordable products, has built a massive store network worldwide since opening its first store in China in 2013.
MINISO, the global lifestyle brand, opened a flagship store in Paris on June 22, 2024, at 104 Avenue des Champs-Elysées, near luxury brands and the Arc de Triomphe. This new location, the largest in Europe, recorded the highest single-day sales outside of mainland China. The store spans over 8,600 ft² and features MINISO's IP collaboration collections with brands like Sanrio, Disney, and Barbie, and debuts the BT21 collection in France.
This opening aligns with MINISO's 'Super Store' strategy of establishing large-format stores in high-traffic areas. The strategy aims to enhance customer experience and boost global brand recognition. The move follows strong financials, with global revenue up 26% YoY to $515.7 million in Q1 2024, and overseas revenue up 52.6% to $169.2 million. MINISO now operates in 110 overseas markets with 6,630 stores worldwide, planning to open 900–1,100 new stores in 2024, over half of which will be overseas.
MINISO Group announced that all proposed resolutions were adopted in their annual general meeting held on June 20, 2024, in Hong Kong. The company, which trades on both the NYSE under the symbol MNSO and the HKEx as 9896, shared that these resolutions included key strategic decisions for the upcoming fiscal year. MINISO is a global retailer known for its trendy lifestyle products featuring IP designs.
MINISO Group Holding (NYSE: MNSO; HKEX: 9896), a global value retailer known for trendy lifestyle products, has announced a change in the venue for its annual general meeting (AGM). Originally scheduled for June 20, 2024, the AGM will now be held at Flats B-D, 35/F, Plaza 88, 88 Yeung Uk Road, Tsuen Wan, the New Territories, Hong Kong. The change is due to administrative reasons.
MINISO Group announced its March Quarter 2024 unaudited financial results, showing significant growth and expansion. Revenue reached RMB3,723.5 million (US$515.7 million), a 26% year-over-year increase, while gross profit was RMB1,616.5 million (US$223.9 million), up 39.1%. Operating profit stood at RMB743.3 million (US$102.9 million), a 29.1% rise. Adjusted net profit hit RMB616.9 million (US$85.4 million), a 27.7% increase. The adjusted EBITDA margin improved to 25.9%. The company expanded its retail footprint to 6,630 stores, including 4,034 in mainland China and 2,596 overseas. This rapid growth reflects MINISO's successful implementation of its IP and globalization strategies.
MINISO, the global lifestyle brand, has opened its first IP Collection Store in the US at the American Dream Mall in New Jersey. This store marks a significant milestone in MINISO's expansion across the US, offering innovative shopping experiences with beloved IP characters and products. With a focus on collaboration and unique design, MINISO aims to become the world's leading IP design retail group, with a strong emphasis on North America for growth.
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