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MINISO Group Announces December Quarter and Full Year of 2024 Unaudited Financial Results
MNSOMNSO(MNSO) Prnewswire·2025-03-21 08:40

Core Insights - MINISO Group reported a strong financial performance for the full year 2024, with revenue reaching RMB 16,994.0 million (US2,328.2million),representingayear−over−yearincreaseof22.8 2,328.2 million), representing a year-over-year increase of 22.8% [5][16] - The company achieved a record gross margin of 44.9%, up from 41.2% in 2023, driven by consistent growth over eight consecutive quarters [5][20] - MINISO's overseas store count reached a milestone of 3,000, contributing significantly to the company's growth strategy [5][9] Financial Highlights - Revenue increased by 22.8% year over year to RMB 16,994.0 million (US 2,328.2 million) [5][16] - Gross profit rose by 34.0% year over year to RMB 7,637.1 million (US1,046.3million)[5][19]−Operatingprofitincreasedby17.6 1,046.3 million) [5][19] - Operating profit increased by 17.6% year over year to RMB 3,315.8 million (US 454.3 million) [5][23] - Profit for the period grew by 15.9% year over year to RMB 2,635.4 million (US361.1million)[5][25]−Adjustednetprofitincreasedby15.4 361.1 million) [5][25] - Adjusted net profit increased by 15.4% year over year to RMB 2,720.6 million (US 372.7 million) [5][25] - Cash position was RMB 6,698.1 million (US917.6million)asofDecember31,2024[5][27]OperationalHighlights−Thetotalnumberofstoresincreasedby1,219to7,780asofDecember31,2024,withover90 917.6 million) as of December 31, 2024 [5][27] Operational Highlights - The total number of stores increased by 1,219 to 7,780 as of December 31, 2024, with over 90% of new stores located in overseas markets [5][6] - The number of MINISO stores reached 7,504, with a net increase of 1,091 stores in the full year [5][6] - The number of TOP TOY stores grew to 276, with a record opening of 128 new stores [5][6] Strategic Developments - The company emphasized its globalization strategy, which has led to a compound annual growth rate of over 40% in revenue from overseas markets from 2021 to 2024 [8][9] - MINISO's revenue from overseas markets grew by 41.9% year over year, contributing 39.4% to the total revenue from the MINISO brand [8][17] - The company plans to continue optimizing store layouts and refining product assortments to enhance same-store sales growth [11] Shareholder Returns - MINISO returned RMB 1,574.5 million to shareholders in 2024 through cash dividends and share repurchases [5][10] - A final cash dividend of approximately RMB 739.4 million (US 101.3 million) was declared, representing about 50% of the adjusted net profit for the second half of 2024 [13][10] Future Outlook - The company is optimistic about top-line acceleration in 2025, focusing on same-store sales growth and improving sales per square meter [11] - MINISO aims to maintain a reasonable and healthy profit margin while continuing to expand its global footprint [11]