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]
名创优品(09896) - 2023 Q2 - 季度业绩