Financial Performance - Revenue for the quarter ended December 31, 2023, was RMB 3,841.3 million (USD 541.0 million), representing a year-over-year increase of 54.0% and a quarter-over-quarter increase of 1.3%[11] - Gross profit for the same period was RMB 1,657.3 million (USD 233.4 million), with a year-over-year growth of 66.2% and a quarter-over-quarter growth of 4.7%[11] - The adjusted net profit for the quarter was RMB 660.5 million (USD 93.0 million), a year-over-year increase of 77.0%[11] - The adjusted EBITDA for the quarter was RMB 995.3 million (USD 140.2 million), representing a year-over-year growth of 66.8%[11] - Operating profit for the quarter was RMB 765.4 million (USD 107.8 million), a year-over-year increase of 71.0%[11] - Revenue for the quarter reached RMB 3.841 billion, a year-on-year increase of 54%, driven by a 55.7% increase in revenue from China and a 51.4% increase from overseas markets[22] - Adjusted net profit for the quarter was RMB 660.5 million, a year-on-year increase of 77%, with an adjusted net profit margin of 17.2% compared to 15.0% in the same period last year[29][30] - Basic and diluted earnings per American Depositary Share (ADS) for the quarter were RMB 2.04 (USD 0.29), an increase of 82.1% compared to RMB 1.12 in the same period of 2022[32] - Adjusted basic and diluted earnings per ADS for the quarter were RMB 2.12 (USD 0.30), an increase of 82.8% compared to RMB 1.16 in the same period of 2022[32] - The company's profit for the three months ended December 31, 2023, was RMB 637,802 thousand, representing a 77.5% increase compared to RMB 359,767 thousand in the same period of 2022[50] - Adjusted net profit for the six months ended December 31, 2023, reached RMB 1,302,509 thousand, up 64.5% from RMB 790,491 thousand in the same period of 2022[52] Store Expansion - The number of MINISO stores reached 6,413 as of December 31, 2023, an increase of 973 stores year-over-year and 298 stores quarter-over-quarter[14] - The number of MINISO stores in China was 3,926, reflecting a year-over-year increase of 601 stores and a quarter-over-quarter increase of 124 stores[14] - The number of TOP TOY stores reached 148 as of December 31, 2023, with a year-over-year increase of 31 stores and a quarter-over-quarter increase of 26 stores[14] - The company opened over 1,000 new stores globally in 2023, the fastest expansion rate in its history, with a target of opening 900-1,100 new stores annually from 2024 to 2028[16] - The total number of stores in overseas markets increased to 2,487 as of December 31, 2023, up from 2,115 a year earlier, marking a growth of 17.6%[58] - The number of stores in first-tier cities increased from 453 to 522 year-over-year, a growth of 15.2%[56] Profitability Metrics - The gross margin for the quarter was 43.1%, compared to 40.0% in the same period last year and 41.8% in the previous quarter[11] - Gross profit margin reached a historical high of 43.1%, up from 40.0% in the same period last year, primarily due to improved product mix and increased contributions from overseas markets[24] - Adjusted EBITDA margin was 25.9%, compared to 23.9% in the same period of 2022[32] - The adjusted net profit margin for the three months ended December 31, 2023, improved to 17.2%, up from 15.0% in the same period of 2022[52] Market Expansion - The company expanded into four new markets during the quarter, marking its entry into the 110th overseas market[14] - Same-store sales growth in China was 32%, while overseas same-store sales growth was 19%[16] - The company reported a 40% year-on-year increase in GMV for overseas operations in January and February 2024[18] - The company's international business revenue for the three months ended December 31, 2023, was RMB 1,494 million, a 51% increase from RMB 986 million in the same period of 2022[54] Expenses and Liabilities - Total sales and distribution expenses increased by 73.3% year-on-year, primarily due to business development-related costs[25] - The company reported a significant increase in sales and distribution expenses, which rose to RMB 1,363,114 thousand for the six months ended December 31, 2023, compared to RMB 798,127 thousand in the same period of 2022[48] - Total liabilities as of June 30, 2023, were RMB 4,529,445 thousand, compared to RMB 5,294,092 thousand as of December 31, 2023[47] Cash and Assets - Total assets as of June 30, 2023, amounted to RMB 13,447,713 thousand, compared to RMB 14,485,309 thousand as of December 31, 2023[46] - Cash and cash equivalents as of June 30, 2023, were RMB 6,489,213 thousand, slightly decreased from RMB 6,415,441 thousand as of December 31, 2023[46] - Inventory as of June 30, 2023, was RMB 1,450,519 thousand, an increase from RMB 1,922,241 thousand as of December 31, 2023[46] Dividends - The company announced a special cash dividend of RMB 651.5 million, approximately 50% of the adjusted net profit for the second half of 2023[21]
名创优品(09896) - 2023 Q4 - 季度业绩