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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 Limited (NYSE: MNSO) announced the launch of a Global Offering for 41,100,000 ordinary shares, consisting of a Hong Kong Public Offering and an International Offering.
The offering includes 4,110,000 shares for the Hong Kong segment and 36,990,000 shares internationally. The final share price will be determined on July 6, 2022. Proceeds from the offering will be used for store expansion, supply chain enhancements, and product development. The company plans to hold a shareholder meeting on July 11, 2022, to discuss changes to its governance structure.
MINISO Group Holding Limited (NYSE: MNSO) announced its upcoming annual general meeting (AGM) scheduled for July 11, 2022, at 9 a.m. in Guangzhou, China. Shareholders must record their holdings by June 16, 2022, to attend and vote. The AGM Notice includes proposed resolutions for shareholder consideration, fully supported by the Board of Directors, who recommend voting in favor. Additionally, the company has filed its annual report on Form 20-F for the fiscal year ended June 30, 2021, accessible on their website and the SEC's site.
MINISO Group Holding Limited (MNSO) announced an annual general meeting (AGM) set for July 11, 2022, in Guangzhou, China. The AGM aims to discuss proposals including amendments to the Company's memorandum and articles related to its planned dual primary listing on the Hong Kong Stock Exchange (HKEx). Key changes involve removing weighted voting rights and complying with HKEx listing rules. The record date for shareholders eligible to participate is June 16, 2022. Detailed proposals will be provided in the AGM Notice, which will be available on the Company’s website.
MINISO Group Holding Limited (NYSE: MNSO) reported its unaudited financial results for Q3 FY 2022, ending March 31, 2022. Revenue reached RMB2,341.0 million (US$369.3 million), marking a 5.0% YoY increase, while gross profit increased by 12.8% YoY to RMB706.5 million (US$111.5 million). However, operating profit and profit for the period declined to RMB141.0 million (US$22.2 million) and RMB92.7 million (US$14.6 million), respectively. The company faced challenges from COVID-19, resulting in an estimated GMV loss of RMB300 million in March. The total number of MINISO stores grew to 5,113.
MINISO Group Holding Limited (NYSE: MNSO) will release its financial results for the March quarter 2022 on May 26, 2022, before U.S. market opens. A conference call is scheduled for 8:00 A.M. Eastern Time on the same day, where management will discuss these results. The call can be accessed via Zoom or by dialing specific numbers provided in the press release. MINISO has established itself as a recognized retail brand since its inception in 2013, focusing on design-led lifestyle products and an engaging shopping experience for consumers.
MINISO Group announced its financial results for Q2 FY2022, reporting revenue of RMB2,772.8 million (US$435.1 million), a 20.7% year-over-year increase. Gross profit reached RMB862.9 million, 34.2% higher than last year, with a gross margin of 31.1%. Operating profit was RMB255.4 million, with profit for the period at RMB184.1 million, a significant increase from RMB20.8 million in Q2 2020. The number of stores grew to 5,045. CEO Guofu Ye expressed confidence in future growth, despite ongoing challenges from the pandemic.
MINISO Group Holding Limited (MNSO) announced that it will release its December quarter 2021 financial results on March 3, 2022, before U.S. markets open. The management will hold an earnings conference call at 7:00 A.M. ET on the same day to discuss the results. The call will be accessible via Zoom and through multiple dial-in options. MINISO is recognized for its affordable, design-led lifestyle products and has rapidly expanded its global store network since 2013.
Carmila reported a strong financial performance for 2021, with recurring earnings per share at €1.24, exceeding guidance and up 3% from 2020. A cash dividend of €1.00 per share is proposed, along with a new €20 million share buyback program. The company anticipates 10% annual growth in recurring earnings for 2022 and 2023. A solid balance sheet is bolstered by a loan-to-value ratio of 37.4% and an EPRA Net Disposal Value of €22.99 per share. The strategic plan aims for sustainable growth and net zero emissions by 2030.
Facedrive Inc. announced a change in its senior management, with Nastassia Law resigning as Chief Financial Officer, effective March 4, 2022. She will assist in transitioning to Jason Xie, who previously served as Vice President of Operations and Finance. Xie brings over 15 years of financial management experience and has led the establishment of new internal financial controls since joining in 2021. This transition aims to better integrate finance with operations, aligning financial management with accounting standards relevant to technology platforms in the gig economy.
Lifestyle retailer MINISO has successfully raised $153,300 through its 'Take Penpen Home' campaign in collaboration with ECOAN, a Peruvian NGO, to support a reforestation program in the Andes mountains. Over the next 15 months, 115,000 trees will be planted, enhancing climate resilience. The campaign, launched in November 2021, saw strong consumer participation with 15% of plush toy sales attributed to the MINI Pen plush toy, underscoring public commitment to environmental causes. With over 100 stores in Latin America, MINISO continues to expand its socially responsible initiatives.
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