Financial Performance - Revenue for the quarter ended September 30, 2023, was RMB 3,791.2 million (USD 519.6 million), representing a year-over-year increase of 36.7% and a quarter-over-quarter increase of 16.6%[8] - Gross profit for the same period was RMB 1,583.7 million (USD 217.1 million), with a year-over-year growth of 60.2% and a quarter-over-quarter growth of 22.2%[8] - Operating profit reached RMB 788.3 million (USD 108.0 million), up 54.7% year-over-year and 14.2% quarter-over-quarter[8] - Net profit for the quarter was RMB 618.3 million (USD 84.7 million), reflecting a year-over-year increase of 53.0% and a quarter-over-quarter increase of 13.0%[8] - Adjusted net profit for the quarter was RMB 642.0 million (USD 88.0 million), a year-over-year increase of 53.8% and a quarter-over-quarter increase of 12.4%[8] - Adjusted EBITDA for the quarter was RMB 1,014.3 million (USD 139.0 million), reflecting a year-over-year growth of 52.8% and a quarter-over-quarter growth of 18.6%[8] - Adjusted EBITDA margin was 26.8%, compared to 23.9% in the same period last year and 26.3% in the previous quarter[8] - The gross margin improved to 41.8%, up from 35.7% in the same period last year, driven by product mix optimization and brand upgrades[21] - Adjusted net profit increased by 54% to RMB 642.0 million (USD 88.0 million), with an adjusted net profit margin of 16.9%[25][26] - The company reported a basic earnings per share of RMB 0.49 for the period, compared to RMB 0.33 in the same quarter of the previous year[44] Store Expansion - The number of MINISO stores exceeded 6,000, reaching 6,115 stores as of September 30, 2023, an increase of 819 stores year-over-year and 324 stores quarter-over-quarter[11] - The number of MINISO stores in China was 3,802, representing a year-over-year increase of 533 stores and a quarter-over-quarter increase of 198 stores[11] - The number of overseas MINISO stores was 2,313, with a year-over-year increase of 286 stores and a quarter-over-quarter increase of 126 stores[11] - The total number of Miniso stores in overseas markets reached 2,313 as of September 30, 2023, an increase of 286 stores year-over-year, representing a growth of 14.1%[52] - The number of stores in Asia (excluding China) increased to 1,264, up by 156 stores compared to the same period last year, reflecting a growth of 14.1%[52] - In the Americas, the store count rose to 654, marking an increase of 98 stores year-over-year, which is a growth of 17.6%[52] - The European market saw an increase of 49 stores, bringing the total to 218, which is a growth of 29.1% year-over-year[52] - The "Other" category experienced a decrease of 17 stores, resulting in a total of 177, which is a decline of 8.8% year-over-year[52] Market Performance - In North America, revenue grew nearly 160% year-on-year, indicating strong performance in emerging markets[15] - The average same-store GMV in China increased by approximately 11%, contributing to a 40% year-on-year growth in offline store GMV[16] - Domestic business revenue grew by 35% to RMB 2,496,000 thousand, with the Miniso brand contributing RMB 2,307,000 thousand, a 36% increase[48] - International business revenue also saw a significant rise of 41%, reaching RMB 1,295,000 thousand[48] Strategic Focus - Miniso has established a large store network globally since opening its first store in China in 2013, promoting a treasure-hunt shopping experience[32] - The company emphasizes high-quality, aesthetically pleasing, and cost-effective products as core attributes of its offerings[32] - The company is focused on future business development and market expansion in the retail sector, particularly in home goods[38] - Miniso's strategic plans include enhancing relationships with consumers, suppliers, and partners to drive growth[38] Financial Metrics and Reporting - The adjusted net profit is defined as profit excluding equity-settled share-based payment expenses, providing a clearer view of operational performance[34] - The adjusted EBITDA is calculated by adding adjusted net profit, depreciation and amortization, financial costs, and income tax expenses[34] - The company uses non-IFRS financial metrics to assess operational performance and formulate business plans, which may differ from other companies' metrics[35] - Miniso's management believes that using non-IFRS financial indicators provides useful information for investors to understand and evaluate operational performance[35] - The RMB to USD exchange rate used for financial reporting is 7.2960 as of September 29, 2023[33] Forward-Looking Statements - The company does not undertake any obligation to update forward-looking statements unless required by applicable law[38]

Financial Performance - Revenue for the fiscal year ended June 30, 2023, was RMB 11,473,208 thousand, representing a year-over-year increase of 13.8% compared to RMB 10,085,649 thousand in 2022[15]. - Gross profit for the same period increased by 44.7% to RMB 4,443,052 thousand from RMB 3,069,761 thousand in 2022[15]. - Operating profit surged by 152.0% to RMB 2,223,011 thousand, up from RMB 882,027 thousand in the previous year[15]. - Profit before taxation rose by 157.3% to RMB 2,333,614 thousand, compared to RMB 906,813 thousand in 2022[15]. - Profit for the year attributable to equity shareholders increased by 177.2% to RMB 1,768,926 thousand from RMB 638,170 thousand in 2022[15]. - Basic earnings per share increased by 167.9% to RMB 1.42, up from RMB 0.53 in the previous year[15]. - Adjusted net profit, a non-IFRS measure, rose by 155.3% to RMB 1,844,711 thousand from RMB 722,578 thousand in 2022[15]. - Adjusted basic earnings per share increased by 145.0% to RMB 1.47 from RMB 0.60 in the previous year[15]. - The company reported a significant increase in profit for non-controlling interests, which rose by 720.3% to RMB 12,903 thousand from RMB 1,573 thousand in 2022[15]. - For the fiscal year ended June 30, 2023, the profit for the year increased to RMB 1,781,829 thousand, up from RMB 639,743 thousand in 2022, representing a growth of approximately 178%[25]. - Adjusted net profit for the fiscal year ended June 30, 2023, was RMB 1,844,711 thousand, compared to RMB 722,578 thousand in 2022, indicating an increase of about 155%[25]. Store Expansion and Operations - The total number of MINISO stores increased from 5,199 as of June 30, 2022, to 5,791 as of June 30, 2023, reflecting a growth of approximately 11.4%[27]. - The number of TOP TOY stores increased from 97 as of June 30, 2022, to 118 as of June 30, 2023, marking a growth of approximately 21.6%[27]. - As of June 30, 2023, there were over 3,600 MINISO stores in China and approximately 2,200 MINISO stores overseas[32]. - The number of directly operated MINISO stores in China increased from 14 in 2022 to 15 in 2023, while the number of stores operated under the MINISO Retail Partner model rose from 3,195 to 3,569[33]. - The total number of TOP TOY stores operated under the MINISO Retail Partner model increased from 90 in 2022 to 109 in 2023[35]. - The number of MINISO Retail Partners increased from 921 in 2022 to 1,040 in 2023, with a net increase of 119 partners[46]. - The company plans to focus on expanding the TOP TOY brand in first- and second-tier cities while penetrating lower-tier cities for MINISO stores[44]. - The number of new MINISO Retail Partners added in 2023 was 230, up from 186 in 2022, driven by expansion into lower-tier cities[52]. - The company has established a strong presence in lower-tier cities, with 1,634 stores in third- or lower-tier cities as of June 30, 2023[43]. Financial Ratios and Cash Management - Current ratio increased from 2.1 as of June 30, 2022, to 2.5 as of June 30, 2023, due to an increase in total current assets of RMB1,831.4 million[116]. - As of June 30, 2023, the company's cash and cash equivalents increased by 25.3% from RMB5,828.3 million to RMB7,303.3 million, primarily due to net cash generated from operating activities and proceeds from the Hong Kong Public Offering[121][126]. - The company's gearing ratio as of June 30, 2023, was 0.1%, calculated as loans and borrowings divided by total equity[133][135]. Dividends and Share Repurchase - The company declared a final cash dividend of US$0.412 per ADS or US$0.103 per Share, totaling approximately US$128.8 million, which is about 50% of the company's adjusted net profit for fiscal year 2023[81]. - The company adopted a dividend policy targeting an annual dividend of no less than 50% of its annual adjusted net profit, aiming to provide foreseeable returns to shareholders[80]. - A new share repurchase program was authorized, allowing the company to repurchase up to USD200 million in value of its outstanding Shares and/or ADSs over a 12-month period starting from September 15, 2023[82]. Market Performance and Consumer Behavior - The average annual revenue per MINISO store in overseas markets rose from RMB 1.4 million in 2022 to RMB 1.8 million in 2023[67]. - Total GMV for MINISO stores in China rose from RMB 10,400 million in 2022 to RMB 10,671 million in 2023, an increase of 2.6%[65]. - Total GMV for MINISO stores in overseas markets increased significantly from RMB 6,414 million in 2022 to RMB 9,072 million in 2023, a growth of 41.1%[67]. - The average spending per transaction in MINISO stores in China increased from RMB 36.5 in 2022 to RMB 37.6 in 2023[65]. - The average selling price of products in MINISO stores in China increased from RMB 12.1 in 2022 to RMB 13.1 in 2023[65]. - The number of transactions in MINISO stores in China decreased slightly from 285.1 million in 2022 to 283.8 million in 2023[65]. Legal and Compliance Matters - The company is currently involved in a federal securities class action, with a decision on the motion to dismiss pending as of September 2023[145][149]. - The company has not made any provisions for the securities class action lawsuit as the outcome is uncertain[145][149]. - The company has committed to pay an aggregate amount of tax levies of no less than RMB965.0 million to the local government in Guangzhou over a five-year period starting from January 1, 2021[138][141]. - A performance guarantee of RMB175.0 million was provided by Miniso (Guangzhou) Co., Ltd. for the tax payment commitment for the calendar year of 2022, which has been met[139]. - The auditor expressed a disclaimer of conclusion regarding the Group's continuing connected transactions due to the lack of disclosed annual cap for the fiscal year ended June 30, 2023[193]. Risks and Challenges - The company's business growth and profitability are highly dependent on consumer demand and discretionary spending, with potential adverse effects from economic downturns in China or globally[168]. - Maintaining and enhancing brand strength is crucial; failure to do so may negatively impact business and operating results[168]. - The company faces risks related to the inability to offer competitive pricing, which could materially affect business performance[169]. - International operations are subject to various costs and regulatory risks, which may impact financial performance[169]. Intellectual Property and Licensing - The actual transaction amount under the IP Licensing, Sales and Distribution Framework Agreement for the fiscal year ended June 30, 2023 was approximately RMB 18.0 million[186]. - The license fee for the IP Licensing agreement is a one-off fixed fee of up to RMB 6.0 million, determined by various factors including store location and local economic conditions[185]. - The IP Licensing, Sales and Distribution Framework Agreement has a term of three years, commencing from the Listing Date and ending on June 30, 2025[180]. - MINISO Nigeria is granted exclusive rights to use certain intellectual property rights and establish MINISO stores in Nigeria under the agreement[178].

Financial Performance - For the fiscal year ending June 30, 2023, the company reported a revenue of RMB 11,473,208 thousand, representing a year-on-year increase of 13.8% compared to RMB 10,085,649 thousand in 2022[3]. - Gross profit for the same period was RMB 4,443,052 thousand, reflecting a significant increase of 44.7% from RMB 3,069,761 thousand in the previous year[3]. - Operating profit surged to RMB 2,223,011 thousand, marking a 152.0% increase from RMB 882,027 thousand in 2022[3]. - The company achieved a net profit of RMB 1,781,829 thousand, which is a remarkable growth of 178.5% compared to RMB 639,743 thousand in the prior year[3]. - The adjusted net profit (non-IFRS) for the fiscal year was RMB 1,844,711 thousand, up 155.3% from RMB 722,578 thousand in 2022[6]. - Total revenue increased by 13.8% from RMB 10,085.6 million in 2022 to RMB 11,473.2 million in 2023, driven by a 44.6% increase in overseas market revenue and a 2.8% increase in revenue from China[35]. - The company's operating profit surged from RMB 882.0 million in 2022 to RMB 2,223.0 million in 2023, reflecting a significant improvement in operational efficiency[34]. - The net profit attributable to equity shareholders increased from RMB 638.2 million in 2022 to RMB 1,768.9 million in 2023[34]. - Basic earnings per share improved from RMB 0.53 in 2022 to RMB 1.42 in 2023, reflecting a growth of 168.0%[94]. - The company’s total comprehensive income for the year increased from RMB 680,237 thousand in 2022 to RMB 1,823,027 thousand in 2023, a growth of 168.5%[95]. Store Expansion - The number of MINISO stores increased from 5,199 to 5,791 globally, with a total of 3,604 stores in China and 2,187 overseas as of June 30, 2023[11]. - The company expanded its TOP TOY store network to 118 locations, all situated in China, as of June 30, 2023[11]. - As of June 30, 2023, the total number of stores in China reached 3,604, an increase of 11.7% from 3,226 in 2022[15]. - The number of direct-operated stores in China increased from 14 in 2022 to 15 in 2023, with a net increase of 1 store[14]. - The number of Miniso partners in China grew from 921 in 2022 to 1,040 in 2023, representing a net increase of 119 partners[17]. - In the overseas market, the total number of direct-operated stores increased from 133 in 2022 to 176 in 2023, a growth of 32.3%[20]. - The number of Miniso partner stores overseas rose from 208 in 2022 to 252 in 2023, marking a net increase of 44 stores[20]. - The total number of agents in overseas markets increased from 200 in 2022 to 229 in 2023, reflecting a net increase of 29 agents[21]. - The net increase of Miniso partner stores in China was 374 in 2023, compared to 276 in 2022, indicating a strong expansion strategy[14]. - The number of new Miniso partner stores opened in China was 546 in 2023, up from 477 in 2022, showing a growth of 14.5%[14]. - The total number of stores in low-tier cities in China increased from 1,383 in 2022 to 1,634 in 2023, a growth of 18.1%[15]. Product Development and Innovation - The company launched approximately 530 new SKUs each month, offering around 9,700 core SKUs across various product categories[9]. - The company has established brand collaborations with 80 IP licensors and independent artists to develop trendy IP products[10]. - The company plans to enhance the brand awareness of TOP TOY and expand its store network in both first and second-tier cities in China[15]. - The company is investing heavily in R&D, with a budget allocation of 850,592 thousand RMB for new technologies and product development, which is an increase of 10% from the previous year[100]. - The company has launched a new product line that has already generated 117,912 thousand RMB in sales within the first month of release, indicating strong market demand[100]. Financial Health and Investments - Cash and cash equivalents, restricted cash, time deposits, and other investments increased by 25.3% from RMB 5,828.3 million as of June 30, 2022, to RMB 7,303.3 million as of June 30, 2023[49]. - The company had a capital debt ratio of 0.1% as of June 30, 2023, calculated as loans and borrowings divided by total equity at year-end multiplied by 100%[55]. - The company has a capital commitment of RMB 982.6 million as of June 30, 2023, primarily for the construction of its headquarters building[61]. - The company reported a significant increase in interest income from RMB 66,344 thousand in 2022 to RMB 145,225 thousand in 2023, a growth of 118.5%[101]. - The company executed a successful public offering in Hong Kong, generating RMB 469,683 thousand in net proceeds after deducting underwriting commissions and other issuance costs[102]. - The company utilized a capital reserve of RMB 730,898,000 (approximately $105 million) to offset accumulated losses as of May 16, 2023[151]. Corporate Governance - The company has engaged compliance advisors to ensure adherence to the Listing Rules since its listing date[74]. - The board is committed to high standards of corporate governance to protect shareholder interests and enhance accountability[77]. - The company has established three board committees: Audit Committee, Remuneration Committee, and Nomination and Corporate Governance Committee, to oversee various aspects of governance[81][84][87]. - The Audit Committee is responsible for reviewing the integrity of financial statements and ensuring compliance with legal and regulatory requirements[83]. - The company will continue to comply with the Listing Rules and corporate governance procedures for timely disclosures[74]. Dividends and Share Buybacks - The company plans to adopt a dividend policy targeting an annual dividend of no less than 50% of adjusted net profit[31]. - A special cash dividend of USD 0.172 per ADS and USD 0.043 per share was approved on August 17, 2022, and paid on September 9, 2022[93]. - The board approved a final cash dividend of USD 0.412 per ADS and USD 0.103 per share on August 22, 2023, to be paid on September 19, 2023[93]. - The company repurchased a total of 166,000 shares for a total consideration of HKD 1,694,572 and 824,217 American Depositary Shares (ADS) for USD 4,208,433[88]. - The company authorized a new share buyback plan on September 29, 2022, allowing for the repurchase of up to $100 million worth of shares over a 12-month period[148]. - As of June 30, 2023, the company repurchased a total of 3,373,228 shares on the New York Stock Exchange, costing approximately $4.37 million[148]. Future Outlook - The company aims to expand its store network in lower-tier cities in China and explore different operational models in overseas markets to drive future growth[33]. - Future guidance suggests a cautious outlook with expectations of gradual recovery in the upcoming quarters[99]. - Market expansion efforts are underway, with plans to enter three new international markets by the end of 2023, aiming to increase market share by 5%[100]. - Future guidance indicates expected revenue growth of 10% to 15% for the upcoming quarter, driven by new product launches and market expansion strategies[100].

Financial Performance - Revenue for the fourth quarter was RMB 3,252.2 million (USD 448.5 million), representing a year-over-year increase of 40.3% and a quarter-over-quarter increase of 10.1%[11] - Gross profit for the fourth quarter was RMB 1,295.6 million (USD 178.7 million), with a year-over-year increase of 67.9% and a quarter-over-quarter increase of 11.5%[11] - Operating profit for the fourth quarter reached RMB 690.0 million (USD 95.2 million), showing a year-over-year increase of 153.6% and a quarter-over-quarter increase of 19.8%[11] - Net profit for the fourth quarter was RMB 547.0 million (USD 75.4 million), reflecting a year-over-year increase of 162.4% and a quarter-over-quarter increase of 16.2%[11] - Adjusted net profit for the fourth quarter was RMB 571.2 million (USD 78.8 million), with a year-over-year increase of 156.3% and a quarter-over-quarter increase of 18.3%[11] - Total revenue for the fiscal year was RMB 11,473.2 million (USD 1,582.2 million), representing a year-over-year increase of 13.8%[14] - Adjusted EBITDA for the fiscal year was RMB 2,822.3 million (USD 389.2 million), showing a year-over-year increase of 99.7%[14] - Operating profit reached RMB 2,223.0 million (USD 306.6 million), a year-over-year growth of 152.0%[42] - Adjusted net profit for the fiscal year was RMB 1,844.7 million (USD 254.4 million), reflecting a year-over-year increase of 155.3%[42] - Gross profit amounted to RMB 4,443.1 million (USD 612.7 million), with a gross margin of 38.7%, up from 30.4% in the previous year[39] - Adjusted net profit margin improved to 16.1%, compared to 7.2% in the previous fiscal year[43] Store Expansion - The number of MINISO stores reached 5,791 as of June 30, 2023, an increase of 592 stores year-over-year and 277 stores quarter-over-quarter[14] - The number of MINISO stores in China was 3,604, reflecting a year-over-year increase of 378 stores and a quarter-over-quarter increase of 221 stores[14] - The number of overseas MINISO stores was 2,187, with a year-over-year increase of 214 stores and a quarter-over-quarter increase of 56 stores[14] - The company plans to increase the number of MINISO stores in China from 3,325 at the end of 2022 to approximately 5,000 by the end of 2027[17] - The number of MINISO stores in China increased by 221 during the quarter, with over 90 stores located in first- and second-tier cities, setting a new record for quarterly openings[17] Revenue Breakdown - Revenue from the Chinese market was RMB 2,137.4 million (approximately USD 294.8 million), a year-on-year increase of 39.4%[23] - The company's overseas revenue reached RMB 1,114.8 million (approximately USD 153.7 million), reflecting a year-on-year growth of 42.0%[24] - Revenue from overseas markets increased by 44.6% year-over-year, totaling RMB 3,822.4 million (USD 527.1 million)[36] - Domestic business revenue for the three months ended June 30, 2023, reached RMB 2,137 million, a 39% increase from RMB 1,533 million in the same period of 2022[70] - International business revenue for the three months ended June 30, 2023, was RMB 1,115 million, reflecting a 42% increase compared to RMB 785 million in the same period of 2022[70] Profitability Metrics - Adjusted net profit exceeded RMB 570 million, marking a year-on-year increase of 156%, with an adjusted net profit margin of 17.6%[17] - The adjusted net profit margin for the three months ended June 30, 2023, improved to 17.6%, up from 9.6% in the same period of 2022[68] - The company reported a basic adjusted earnings per share of RMB 0.45 for the three months ended June 30, 2023, compared to RMB 0.18 in the same period of 2022[68] Cash and Assets - Cash and cash equivalents totaled RMB 7,303.3 million (USD 1,007.2 million) as of June 30, 2023, compared to RMB 5,828.3 million a year earlier[33] - Total assets as of June 30, 2023, amounted to RMB 13,447,713 thousand, up from RMB 11,281,788 thousand in 2022, reflecting a growth of 19.3%[62] - Cash and cash equivalents increased to RMB 6,489,213 thousand as of June 30, 2023, from RMB 5,348,492 thousand in 2022, representing a 21.3% rise[62] - Total equity increased to RMB 8,918,268 thousand as of June 30, 2023, compared to RMB 7,027,400 thousand in 2022, indicating a growth of 27.0%[62] Strategic Initiatives - The company has adopted a dividend policy to pay no less than 50% of adjusted net profit as dividends, with a proposed final cash dividend of USD 0.412 per American depositary share[20][21] - The company expects continued strong sales growth driven by improved store performance and network expansion in the upcoming quarter[18] - Miniso has established a large store network globally since opening its first store in China in 2013, promoting a treasure-hunting shopping experience[51] - The company emphasizes high-quality, aesthetically pleasing, and cost-effective products as core attributes of its offerings[51] - The company maintains a commitment to innovation and product development to meet consumer demand and enhance market acceptance[57] Financial Metrics and Definitions - Miniso uses non-IFRS financial metrics such as adjusted net profit and adjusted EBITDA to evaluate its operational performance[53] - Adjusted net profit is defined as profit excluding equity-settled share-based payment expenses[54] - The adjusted EBITDA margin is calculated by dividing adjusted EBITDA by revenue, providing insight into operational efficiency[54] - The company encourages investors to review its financial data comprehensively rather than relying solely on non-IFRS metrics[55] Miscellaneous - The exchange rate used for converting RMB to USD is 7.2513 RMB per 1 USD as of June 30, 2023[52] - Investor relations contact information is provided for further inquiries regarding the company's performance and strategies[58]

Financial Performance - Revenue for the third quarter ended March 31, 2023, was RMB 2,954.1 million (USD 430.2 million), representing a year-over-year increase of 26.2% and a quarter-over-quarter increase of 18.4%[11] - Gross profit for the same period was RMB 1,161.7 million (USD 169.2 million), with a year-over-year growth of 64.4% and a quarter-over-quarter growth of 16.5%[11] - Operating profit reached RMB 575.9 million (USD 83.9 million), showing a significant year-over-year increase of 308.5% and a quarter-over-quarter increase of 28.7%[11] - Adjusted net profit for the third quarter was RMB 483.0 million (USD 70.3 million), marking a year-over-year increase of 336.3% and a quarter-over-quarter increase of 29.5%[11] - Adjusted EBITDA for the quarter was RMB 706.4 million (USD 102.9 million), with a year-over-year growth of 164.3% and a quarter-over-quarter growth of 19.7%[11] - Revenue for the third quarter of fiscal year 2023 reached RMB 2,954.1 million, a year-on-year increase of 26.2% driven by an 18.1% increase in revenue from China and a 54.6% increase from overseas markets[21] - Adjusted net profit margin expanded to 16.4%, an increase of 11.7 percentage points compared to the same period last year, with adjusted net profit rising to RMB 483 million, a year-on-year growth of 336%[16] - Basic and diluted earnings per American Depositary Share (ADS) were RMB 1.48 (USD 0.22), an increase of 362.5% compared to RMB 0.32 in the same period of 2022[31] - Net profit for the period was RMB 470.9 million (USD 68.6 million), reflecting a year-over-year growth of 408.2%[28] - Adjusted net profit for the three months ended March 31, 2023, was RMB 483,016 thousand, a 38% increase from RMB 110,699 thousand in the same period of 2022[49] Store Expansion - The number of MINISO stores as of March 31, 2023, was 5,514, an increase of 401 stores year-over-year and 74 stores quarter-over-quarter[14] - The number of MINISO stores in China was 3,383 as of March 31, 2023, reflecting a year-over-year increase of 186 stores and a quarter-over-quarter increase of 58 stores[14] - The overseas MINISO store count reached 2,131 as of March 31, 2023, with a year-over-year increase of 215 stores and a quarter-over-quarter increase of 16 stores[14] - The number of TOP TOY stores as of March 31, 2023, was 116, an increase of 24 stores year-over-year[14] - The number of new stores opened in the quarter increased by 58, doubling the number from the same period last year, with a target of opening 250-350 new stores in China for 2023[16] Market Performance - Average same-store GMV in China increased by approximately 50% year-on-year, with total GMV growth of about 80% in April 2023[17] - Revenue from overseas markets contributed 27.1% to total revenue, up from 22.1% in the same period last year, marking a five percentage point increase[22] - The average number of stores in China increased by 5.4%, contributing to a 25.3% year-on-year revenue growth from domestic stores[21] - The company’s efforts in product design and selection optimization in overseas markets resulted in a revenue increase of approximately 55% to RMB 800.9 million[16] - Domestic business revenue for the three months ended March 31, 2023, was RMB 2,153,000 thousand, an 18% increase compared to RMB 1,823,000 thousand in the same period of 2022[52] - International business revenue surged by 55% to RMB 801,000 thousand for the three months ended March 31, 2023, compared to RMB 518,000 thousand in the same period of 2022[52] Financial Position - As of March 31, 2023, the company had cash and cash equivalents totaling RMB 7,089.1 million (USD 1,032.3 million), up from RMB 6,160.4 million as of December 31, 2022[31] - Total assets increased from RMB 11,281,788 thousand as of June 30, 2022, to RMB 12,561,595 thousand as of March 31, 2023, representing a growth of approximately 11%[43] - Cash and cash equivalents rose from RMB 5,348,492 thousand in June 2022 to RMB 6,380,545 thousand in March 2023, an increase of about 19%[43] - The company's equity attributable to shareholders increased from RMB 7,031,642 thousand in June 2022 to RMB 8,275,575 thousand in March 2023, reflecting a growth of approximately 18%[44] - Non-current assets totaled RMB 3,077,889 thousand as of March 31, 2023, slightly down from RMB 3,209,226 thousand as of June 30, 2022[43] - Inventory increased from RMB 1,188,095 thousand in June 2022 to RMB 1,392,376 thousand in March 2023, marking a rise of about 17%[43] - Total liabilities increased slightly from RMB 4,254,388 thousand in June 2022 to RMB 4,277,357 thousand in March 2023[44] - The company has a strong cash position with total current assets reaching RMB 9,483,706 thousand as of March 31, 2023, up from RMB 8,072,562 thousand in June 2022[43] Strategic Initiatives - The company has established an ESG leadership team to manage environmental, social, and governance matters, reporting regularly to the audit committee and board[20] - The company is focused on expanding its market presence and enhancing product offerings, as indicated by ongoing investments in new product development and technology[40] - Management anticipates continued growth in the retail market, driven by increasing consumer demand and strategic partnerships[40] Other Financial Metrics - Other income was RMB 0.8 million (USD 0.1 million), compared to RMB 2.3 million in the same period of 2022[25] - Sales and distribution expenses were RMB 439.0 million (USD 63.9 million), an increase of 21.3% year-over-year. Excluding share-based compensation, these expenses were RMB 431.5 million (USD 62.8 million), up 22.8% year-over-year[25] - Financial income net was RMB 25.1 million (USD 3.7 million), a year-over-year increase of 444.9% due to increased interest income from bank deposits[27] - Adjusted EBITDA margin was 23.9%, compared to 11.4% in the same period of 2022[31] - The company experienced a foreign exchange loss of RMB 7,967 thousand for the three months ended March 31, 2023, compared to a loss of RMB 11,139 thousand in the same period of 2022[48]

Financial Performance - Revenue for the six months ended December 31, 2022, was RMB 5,266,878, a decrease of 2.9% compared to RMB 5,426,908 in 2021[12] - Gross profit increased by 24.8% to RMB 1,985,660 from RMB 1,591,342 in the previous year[12] - Operating profit surged by 104.1% to RMB 957,070, up from RMB 468,947 in 2021[12] - Profit before tax rose by 113.9% to RMB 1,005,409 compared to RMB 469,956 in the prior year[12] - Net profit for the period increased by 125.6% to RMB 763,911 from RMB 338,618 in 2021[12] - Basic and diluted earnings per share were both RMB 0.61, representing a 117.9% increase from RMB 0.28 in the previous year[12] - Adjusted net profit (non-IFRS) was RMB 790,491, a 103.2% increase from RMB 389,018 in 2021[12] Store Expansion and Market Presence - The company reported a significant increase in the number of stores, contributing to market expansion efforts[18] - As of December 31, 2022, MINISO operated over 5,400 stores globally, with 3,325 stores in China and 2,115 stores overseas[21] - The number of TOP TOY stores in China increased to 117, up from 89 in the previous year[23] - The number of MINISO partners increased by 77 to a total of 998 partners as of December 31, 2022[28] - The company plans to expand the TOP TOY store network in first- and second-tier cities while penetrating lower-tier cities in China[27] - The number of MINISO stores in lower-tier cities rose to 1,477, an increase from 1,307 in the previous year[26] - The total GMV of products sold through the MINISO network reached approximately RMB 9.9 billion for the six months ended December 31, 2022[19] Product Development and Innovation - Future outlook includes continued investment in new product development and technology enhancements to drive growth[18] - MINISO launched over 560 SKUs on average each month, offering a wide product range of over 7,600 core SKUs[20] - The company has established brand collaborations with 82 popular IP licensors and developed over 300 IP products under the TOP TOY brand[20] Financial Position and Cash Flow - As of December 31, 2022, the company's cash and cash equivalents increased by 5.7% to RMB 6.16 billion from RMB 5.83 billion as of June 30, 2022, primarily due to cash generated from operations and proceeds from a global offering[59] - The company reported a net cash position of RMB 5,186,601 thousand at the end of the period, slightly down from RMB 5,151,456 thousand at the end of the previous year[131] - The net cash generated from operating activities for the six months ended December 31, 2022, was RMB 433,256 thousand, a decrease from RMB 731,741 thousand in the same period of 2021[129] Shareholder Returns and Dividends - The company approved a special cash dividend of USD 0.172 per ADS or USD 0.043 per share, paid on September 9, 2022[111] - A special cash dividend of USD 0.043 per ordinary share was declared, totaling USD 53,640,000 (approximately RMB 370,787,000) for the six months ended December 31, 2022[189] Corporate Governance and Compliance - The company has established an audit committee to oversee the integrity of financial statements and compliance with legal requirements[78] - The remuneration committee is responsible for reviewing and recommending director compensation and evaluating the performance of the CEO and CFO[80] - The nomination and corporate governance committee ensures the company's operations align with shareholder interests and compliance with listing rules[83] Acquisitions and Investments - The company acquired 90% of MINISO VIETNAM LIMITED LIABILITY COMPANY for a cash consideration of 3,097,377,000 VND (approximately RMB 893,000) on November 30, 2022[197] - The identifiable net assets acquired included property, plant, and equipment valued at RMB 1,339,000 and inventory valued at RMB 11,573,000[198] Share Repurchase and Incentive Plans - The company repurchased a total of 166,000 shares on the Hong Kong Stock Exchange for a total consideration of HKD 1,694,572, and 824,217 American Depositary Shares (ADS) on the New York Stock Exchange for USD 4,208,433, totaling 3,296,868 shares[106] - The company has approved a new share repurchase plan allowing for the repurchase of up to USD 100 million worth of shares within 12 months starting from September 29, 2022[185] - The total number of outstanding options granted as of December 31, 2022, is 6,476,636 shares, accounting for approximately 0.51% of the issued shares, with 1,751,636 options vested and 4,725,000 options unvested[100] Challenges and Market Conditions - The company experienced a negative impact on retail sales due to COVID-19 restrictions, although most overseas stores have returned to pre-pandemic sales levels[153] - The average transaction volume in China decreased from 154.2 million in 2021 to 120.4 million in 2022, a decline of approximately 22%[34] - The company expects stronger performance in the first half of the year due to seasonal retail demand, typically higher than the second half[153]