Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12 (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES E ...

[Filing Information](index=1&type=section&id=Filing%20Information) [Report Details](index=1&type=section&id=Report%20Details) This section outlines the administrative details of the Form 6-K filing by MINISO Group Holding Limited, specifying the report type, commission file number, and the company's principal executive offices - The filing is a Form 6-K, a Report of Foreign Private Issuer, for the month of September 2022[1](index=1&type=chunk) - MINISO Group Holding Limited files annual reports under Form 20-F[1](index=1&type=chunk) - The company's principal executive offices are located in Guangzhou, Guangdong Province, The People's Republic of China[1](index=1&type=chunk) [Exhibit Index](index=2&type=section&id=Exhibit%20Index) The Exhibit Index indicates that the Form 6-K includes Exhibit 99.1, which is a Press Release detailing a Chairman Share Purchase Plan - Exhibit 9.1 is a Press Release on Chairman Share Purchase Plan[2](index=2&type=chunk) [Signatures](index=3&type=section&id=Signatures) This section confirms the official authorization and signing of the Form 6-K on behalf of MINISO Group Holding Limited by Saiyin Zhang, Director and Chief Financial Officer, on September 30, 2022 - The report was signed by Saiyin Zhang, Director and Chief Financial Officer of MINISO Group Holding Limited[4](index=4&type=chunk) - The signing date for the report was September 30, 2022[4](index=4&type=chunk)

MINISO Group Holding Limited (NYSE:MNSO) Q4 2022 Earnings Conference Call August 25, 2022 8:00 AM ET Corporate Participants Eason Zhang - Director, Capital Markets Guofu Ye - Founder, Chairman and Chief Executive Officer Saiyin Zhang - Executive Vice President and Chief Financial Officer Conference Call Participants Michelle Cheng - Goldman Sachs Anne Ling - Jefferies Lucy Ziyan Yu - Bank of America Merrill Lynch Operator Ladies and gentlemen, thank you for standing by and welcome to MINISO Group Holding Li ...

Table of Contents Exhibit 99.2 | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------| | | | | INDEX TO UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS | Page | | Unaudited Consolidated Statements of Profit or Loss for the Three Months ended March 31, 2021 and 2022 and Nine Months ended March 31, 2021 and 2022 | F-2 | | Unaudited ...

Financial Data and Key Metrics Changes - Revenue for the March quarter reached RMB2.34 billion, representing a 5% year-over-year increase [5][19] - Gross profit was RMB707 million, up 17% year-over-year, with a gross margin of 30.2%, compared to 28.1% a year ago [22][24] - Adjusted net profit was RMB111 million, down from RMB149 million in the same period of 2021, with an adjusted net margin of 4.7% [25] Business Line Data and Key Metrics Changes - MINISO's offline business in China generated RMB1.56 billion, showing slight year-over-year growth, while e-commerce revenue was RMB126 million [19][8] - TOP TOY's revenue increased by nearly four times year-over-year, reaching RMB111 million [15][20] - The gross margin for TOP TOY reached 45%, with proprietary products stabilizing at around 65% [16] Market Data and Key Metrics Changes - MINISO's overseas revenue was RMB520 million, up 17% year-over-year, with significant growth in various regions: Europe (85%), North America (65%), and Latin America (45%) [12][21] - The company's market share in the global branded variety retail market increased from 5.2% in 2019 to 6.7% in 2021, and in China from 10.9% to 11.4% [6] Company Strategy and Development Direction - MINISO is focusing on brand upgrades and integrating interest-based consumption into product development, which has led to higher gross margins [6][10] - The company plans to dynamically adjust store openings in China based on pandemic developments, with a target of net addition of 350 stores in overseas markets for 2022 [9][36] - Emphasis on maintaining a strong supply chain and inventory management to cope with rising costs and inflationary pressures [8][33] Management's Comments on Operating Environment and Future Outlook - The management acknowledged the challenges posed by the pandemic and inflation, but expressed confidence in the company's resilience and competitive advantages [5][27] - Future revenue expectations for the June quarter are projected to be between RMB2.1 billion to RMB2.4 billion, indicating a cautious outlook due to ongoing uncertainties [26] - The management highlighted that consumer demand is becoming more unpredictable, which poses challenges for inventory management [32] Other Important Information - The company has successfully launched over 1,100 new SKUs in overseas markets, contributing to significant revenue growth [14] - MINISO's cash position remains strong, with a combined balance of RMB5.49 billion as of March 31, 2022 [25] Q&A Session Summary Question: What is the management's observation on cost inflation and its sustainability? - Management noted rising transportation and raw material costs but emphasized that MINISO has not felt significant pressure due to strong gross margins and effective cost management strategies [31][33] Question: Can management provide updates on store expansion plans? - Management confirmed the guidance of adding 350 stores overseas in 2022, while in China, store openings will be adjusted based on pandemic control measures [36] Question: How does management view the impact of inflation on consumer spending and pricing strategy? - Management believes that inflation presents an opportunity for MINISO as consumers seek value, and they will maintain a balanced pricing strategy to support their value proposition [39][40] Question: What is the sales situation in China and overseas during the second quarter? - Sales in China have been soft due to stricter measures, with a 10% sequential decline in April, while overseas markets have shown strong recovery, particularly in India and Indonesia [42][43]

International Market Revenue - Revenue from international markets decreased by 3.2% from RMB3,030.9 million in FY2019 to RMB2,934.9 million in FY2020, and further decreased by 39.3% to RMB1,780.5 million (US$279.4 million) in FY2021[21] - Revenue from international markets increased by 64.9% from RMB813.2 million in H1 FY2021 to RMB1,340.6 million (US$210.4 million) in H1 FY2022[21] - Revenue from Ukraine and Russia accounted for less than 0.5% of total revenue for FY2021, with operations in Ukraine temporarily terminated and sales in Russia slowed due to geopolitical conflicts[12] - Revenue from markets outside China accounted for 24.7% of total revenue for the six months ended December 31, 2021, up from 19.6% in the fiscal year ended June 30, 2021[181] - MINISO's overseas revenue contribution was 32.3%, 32.7%, 19.6%, and 24.7% in the fiscal years ended June 30, 2019, 2020, 2021, and the six months ended December 31, 2021, respectively[195] China Market Revenue - Revenue from China increased by 20.6% from RMB6,044.1 million in FY2020 to RMB7,291.2 million (US$1,144.2 million) in FY2021[22] - Revenue from China increased by 14.9% from RMB3,556.7 million in H1 FY2021 to RMB4,086.3 million (US$641.2 million) in H1 FY2022[22] - Revenue increased by 24.2% from RMB4,369.9 million in the six months ended December 31, 2020 to RMB5,426.9 million in the six months ended December 31, 2021[181] COVID-19 Impact - Approximately 4% of MINISO stores in overseas markets were temporarily closed as of December 31, 2021, due to COVID-19 impacts[17] - The company expects consolidated results for the rest of FY2022 to continue being negatively affected by COVID-19, with potential adverse impacts in subsequent periods[23] - The COVID-19 pandemic negatively affected the company's supply chain, including manufacturing, warehousing, and shipping of products[23] - COVID-19 pandemic continues to pose significant risks to the company's business operations, with potential re-imposition of restrictions if new cases surge[24] - The company's reliance on third-party logistics and transportation companies for product delivery poses risks of delays and increased costs, especially during COVID-19 disruptions[37] Inventory Management - Inventory levels increased from RMB1,309.0 million in June 2019 to RMB1,496.1 million (US$234.8 million) in June 2021, with inventory turnover days rising from 63 days in 2019 to 79 days in 2021[35] - MINISO's inventory turnover days decreased to 68 days for the six months ended December 31, 2021, down from 79 days in the fiscal year ended June 30, 2021[180] - The company's inventory management challenges include potential obsolescence, write-downs, and lower gross margins due to high inventory levels[35] E-commerce and Digital Transformation - The company's e-commerce initiative aims to expand online offerings and broaden sales channels, but faces risks such as cyber-attacks and data security breaches[39] - The company plans to expand and upgrade its store network globally, enhance product development, and accelerate digital transformation, requiring significant resources[32] - MINISO's Weixin mini-program reached more than 7 million average monthly active users in the quarter ended December 31, 2021[192] Regulatory and Compliance Risks - The company faces regulatory uncertainties and substantial compliance costs when entering new overseas markets, with potential risks of non-compliance leading to sanctions or penalties[15] - The company is subject to stringent data security and privacy regulations in China, including the PRC Data Security Law and the PRC Cyber Security Law, which could impose additional compliance costs and risks[62] - The company may be required to undergo cybersecurity reviews if deemed a "critical information infrastructure operator" or "network platform operator" under the Cybersecurity Review Measures[63] - The company is evaluating the impact of new privacy and data protection laws, such as the Personal Information Protection Law, on its business practices[63] - The company faces potential risks from international data protection regulations, such as the GDPR in the EU and the California Consumer Privacy Act in the US, which could increase compliance costs and legal exposure[65] - The company's e-commerce initiatives and loyalty programs in overseas markets may subject it to new data protection laws and regulations, affecting how it stores and processes consumer data[65] - The company may face fines up to RMB500,000 for non-compliance with commercial franchising regulations under the "TOP TOY" and "WonderLife" brands[66] - The company has not obtained fire control inspection certificates for one TOP TOY store and one WonderLife store, risking fines or suspension of operations[68] - The company may be subject to fines ranging from RMB1,000 to RMB10,000 for unregistered lease agreements in China[74] - The company is required to comply with the Uyghur Forced Labor Prevention Act (UFLPA), effective from June 21, 2022, which may affect its supplier relationships[78] - The company may be required to relocate operations if leased properties are deemed illegal or subject to demolition[74] - The company is subject to uncertainties in the interpretation and enforcement of PRC laws and regulations, which could limit legal protections and affect its operations[85][86][87] - The company may incur substantial costs to comply with new PRC regulations on data security and cross-border data transmission, which could negatively impact demand for its products[88][90] - The company's operations in China are subject to significant government oversight and discretion, which could result in material adverse changes to its operations and the value of its ADSs[91] - Approval from CSRC or other PRC government authorities may be required for the company's Global Offering, future offerings, or issuance of securities abroad, with uncertainty on obtaining or maintaining such approval[95] - The M&A Rules require overseas special purpose vehicles controlled by PRC entities to obtain CSRC approval before listing on overseas stock exchanges, with potential risks of fines, penalties, or restrictions on dividend payments if approval is not obtained[95] - The Draft Data Security Regulations and Cybersecurity Review Measures strengthen cybersecurity review for entities seeking offshore listing, potentially impacting the company's operations[97] - The Provisions of the State Council on the Administration of Overseas Securities Offering and Listing by Domestic Companies (Draft for Comments) and related measures may introduce new approval or filing requirements for offshore offerings, with potential regulatory actions or sanctions if not complied with[97] Financial Performance and Market Position - Gross profit increased by 36.6% from RMB1,165.1 million in the six months ended December 31, 2020 to RMB1,591.3 million in the six months ended December 31, 2021, with gross margin improving from 26.7% to 29.3%[181] - MINISO generated GMV of approximately RMB18.0 billion (US$2.8 billion) globally in 2021, making it the largest global branded variety retailer of lifestyle products[184] - TOP TOY achieved GMV of RMB374.4 million in 2021, with GMV per store reaching RMB7.1 million, ranking top three in China's pop toy market[184] - MINISO had approximately 3 billion store visits and 1 billion in-store orders in China during the Track Record Period[184] - MINISO launched an average of about 550 SKUs per month under its brand in the fiscal year ended June 30, 2021[185] - TOP TOY-branded products contributed about 14.0% to revenue in the quarter ended December 31, 2021[185] - MINISO had over 34 million members and TOP TOY had over 1.5 million members as of December 31, 2021[192] - MINISO's aggregate GMV reached approximately RMB18.0 billion (US$2.8 billion) in 2021, making it the largest global branded variety retailer of lifestyle products[178] - TOP TOY achieved a GMV of RMB374.4 million in 2021, ranking in the top three among major companies in China's pop toy industry[178] - As of December 31, 2021, MINISO had over 5,000 stores globally, including over 3,100 in China and approximately 1,900 overseas, spanning approximately 100 countries and regions[178] - TOP TOY had 89 stores as of December 31, 2021, ranking third among major brands in China's pop toy market[178] - MINISO launched an average of about 550 SKUs per month in the fiscal year ended June 30, 2021, offering over 8,800 core SKUs[178] - TOP TOY offered around 4,600 SKUs as of December 31, 2021 across 8 major categories[178] Market Trends and Growth - The size of China's lifestyle products market by aggregate GMV increased from RMB3.1 trillion in 2017 to RMB4.2 trillion in 2021, representing a CAGR of 7.8%[121] - The branded variety retail market in China by aggregate GMV increased from RMB71.5 billion in 2017 to RMB95.1 billion in 2021 at a CAGR of 7.4%, and is estimated to further increase at a CAGR of 14.2% from 2022 to 2026[125] - The company generated GMV of RMB10.8 billion from its branded variety retail business in China in 2021, with a market share of 11.4%[129] - The global branded variety retail market by aggregate GMV increased from US$41.4 billion in 2017 to US$41.9 billion in 2021 at a CAGR of 0.3%, and is estimated to grow at a CAGR of 12.6% from 2022 to 2026[133] - The top five players in China's branded variety retail market had an aggregate market share of approximately 18.6% in terms of GMV in 2021[128] - The company ranked first by GMV in the branded variety retail market in China in 2021[129] - The branded variety retail market in China is highly fragmented with more than 1,000 players[128] - The lifestyle products market in China outpaced the CAGR of 4.8% for China's retail market during the same period (2017-2021)[121] - The branded variety retail market in China is driven by increasing disposable income, rising living standards, and consumer demand for differentiated shopping experiences[130] - The global branded variety retail market is driven by macroeconomic factors such as GDP growth, population, and urbanization rate[134] - The branded variety retail market in the U.S. is expected to grow from $11.5 billion in 2022E to $17.4 billion in 2026E, with a CAGR of 10.9%[138] - The branded variety retail market in Canada is projected to increase from $1.3 billion in 2022E to $1.8 billion in 2026E, with a CAGR of 9.5%[138] - India's branded variety retail market is forecasted to grow from $2.8 billion in 2022E to $4.8 billion in 2026E, with a CAGR of 14.4%[140] - Indonesia's branded variety retail market is expected to expand from $1.6 billion in 2022E to $2.7 billion in 2026E, with a CAGR of 14.0%[140] - Mexico's branded variety retail market is anticipated to grow from $2.2 billion in 2022E to $3.6 billion in 2026E, with a CAGR of 13.1%[140] - The company generated GMV of approximately RMB18.0 billion (US$2.8 billion) from its branded variety retail business globally in 2021, capturing a 6.7% market share[142] - The pop toy market in China grew from RMB10.8 billion in 2017 to RMB34.5 billion in 2021, with a CAGR of 33.7%, and is expected to grow at a CAGR of 24.0% from 2022 to 2026[147] - The company generated GMV of RMB374.4 million from its pop toy business in China in 2021, holding a 1.1% market share and ranking third by GMV[154] - The top five players in the global branded variety retail market held an aggregate market share of approximately 20.3% in terms of GMV in 2021[141] - The pop toy market in China is driven by an active and diversified fan base, varied sales and customer engagement channels, and diversified products[150][151][152] Company History and Milestones - MINISO commenced operations in 2013 with its first store in Guangzhou, China[160] - By 2014, the total number of MINISO stores exceeded 300[160] - In 2015, MINISO initiated its globalization strategy, with the total number of stores exceeding 1,000[160] - By 2018, the number of MINISO stores in overseas markets exceeded 1,000[160] - MINISO listed its ADSs on the NYSE under the symbol "MNSO" in 2020[160] - In 2020, MINISO launched a new brand, TOP TOY, focused on pop toys[160] - By 2021, the number of MINISO stores exceeded 5,000, entering the 100th geographical market[160] - MINISO was included in the Hurun China 500 Most Valuable Private Companies list for two consecutive years (2019-2020)[160] - MINISO raised approximately RMB1.0 billion in Series A investment in 2018[164] - As of the latest practicable date, MINISO's controlling shareholders jointly held approximately 64.4% of the total issued share capital, representing approximately 76.8% of the aggregate voting power[167] Risks and Challenges - The company's international expansion strategy involves risks such as limited brand recognition, difficulties in managing logistics, and challenges in anticipating foreign consumer preferences[12] - Product liability issues, recalls, or personal injury claims could damage the company's reputation and financial condition, with potential for significant monetary awards[29] - The company's return and exchange policies in China allow consumers to return defective products within 7 days or exchange within 15 days, with warranties varying by product category[31] - The company's MINISO Retail Partners and local distributors engaging in illegal activities or misconduct could harm the company's reputation and financial condition[25] - The company's live streaming promotions on third-party platforms carry risks of inappropriate content, which could damage the company's brand image[28] - Intense competition in the retail industry may lead to loss of market share and reduced margins, with potential competitors including traditional retailers, online retailers, and variety retailers[40] - Historical rapid growth since 2013 may not be sustained due to factors such as decreased consumer spending, increased competition, and economic slowdowns[42] - Unfavorable fluctuations in raw material prices and availability could increase cost of sales and delay production, impacting gross profit margins[43] - Consumer-friendly return and exchange policies may lead to increased costs and negatively affect results of operations if misused[44] - Fluctuations in currency exchange rates have led to net foreign exchange losses, including RMB114.2 million (US$17.9 million) for the fiscal year ended June 30, 2021[45] - Marketing and brand promotion expenses have increased, with RMB214.8 million (US$33.7 million) spent in the fiscal year ended June 30, 2021[52] - Intellectual property infringement claims and negative publicities could harm the company's brand image and reputation[56] - The company's success heavily depends on the continued services of its management team, particularly Mr. Guofu Ye, the chairman and CEO[48] - Competition for qualified personnel and rising labor costs could adversely affect the company's ability to expand operations[49] - The company may face challenges in protecting its intellectual property rights, which could harm its competitive position[53] - The company relies heavily on the SAP ERP system for daily store operations, and any malfunction could disrupt operations, especially during peak seasons like Chinese New Year[57] - The company faces risks of data security breaches, which could result in reputational damage, financial losses, and legal consequences[60] - The company collects and processes a large volume of consumer data, including browsing and consumption behavior, which is critical for maintaining operating efficiency and consumer confidence[61] - The company disposed of loss-making subsidiaries, including the NOME business with over 200 stores, which were all closed by June 30, 2021[69] - The company recorded equity-settled share-based payment expenses of RMB281.3 million (US$44.1 million) for the fiscal year ended June 30, 2021[77] - The company maintains limited insurance coverage, lacking business interruption and key-man life insurance[75] - The company granted 70,879,312 restricted shares and options to purchase 11,276,328 shares as of December 31, 2021[77] - The company faces risks from changes in international trade policies, particularly between the U.S. and China, which could impact its operations[78] - The company faces potential delisting of its ADSs in the US by 2024 under the HFCAA if the PCAOB cannot inspect its auditor, with a possible earlier delisting in 2023 if proposed changes to the law are enacted[82][84] - The company's auditor in China is not currently inspected by the PCAOB, which may lead to a loss of investor confidence in the company's financial reporting[81] - The company's international operations and financial condition could be adversely affected by escalating tensions between China and other countries, including the US and India[80] - The company may face challenges in raising capital if its ADSs are delisted from US exchanges, which could significantly impact its business and financial condition[84] - The company's ability to hedge against foreign currency exchange risk is limited, and PRC exchange control regulations may restrict its ability to convert Renminbi into foreign currency[92] - The company may face difficulties in pursuing growth through acquisitions in China due to complex procedures and regulatory requirements under PRC laws[93][94] - The trading price of the company's ADSs and Shares may be volatile due to market factors, industry performance, or company-specific events, potentially leading to substantial losses for investors[98] - Short selling practices may drive down the market price of the company's Shares

MINISO Group Holding Limited (NYSE:MNSO) Q2 2022 Earnings Conference Call March 3, 2022 7:00 AM ET Company Participants Eason Zhang - Director of Capital Markets Guofu Ye - CEO Steven Zhang - CFO Conference Call Participants Michelle Cheng - Goldman Sachs Lucy Yu - Bank of America Operator Ladies and gentlemen, thank you for standing by and welcome to MINISO Group Holding Limited Earnings Conference Call for the Second Quarter of Fiscal Year 2022 that ended December 31, 2021. At this time, all participants ...

MINISO Group Holding Ltd (NYSE:MNSO) Q1 2022 Earnings Conference Call November 18, 2021 7:00 AM ET Company Participants Eason Zhang - Director, IR Guofu Ye - Founder, Chairman & CEO Saiyin Zhang - CFO, EVP & Director Conference Call Participants Michelle Cheng - Goldman Sachs Group Lucy Yu - Bank of America Merrill Lynch Wenhui Song - CICC Xiaofang Xu - Citic Operator Ladies and gentlemen, thank you for standing by, and welcome to MINISO Group Holdings Limited Earnings Conference Call for the first quarter ...