Financial Performance - For the six months ended December 31, 2023, the total revenue was approximately RMB 7,632,467,000, representing a significant increase from RMB 5,266,878,000 for the same period in 2022, marking a growth of 44.9%[4] - The gross profit for the same period was RMB 3,241,039,000, up from RMB 1,985,660,000 in 2022, reflecting a gross margin improvement[4] - The adjusted net profit for the six months was RMB 1,302,509,000, compared to RMB 790,491,000 for the same period in 2022, representing a growth of 64.5%[4] - The adjusted basic earnings per share for the six months was RMB 1.04, compared to RMB 0.64 in 2022, reflecting a year-on-year increase of 62.5%[4] - The company's operating profit for the six months ending December 31, 2023, was RMB 1,553.7 million, up from RMB 957.1 million for the previous year[32] - The company's profit increased by 64.4% from RMB 763.9 million for the six months ended December 31, 2022, to RMB 1,256.1 million for the six months ended December 31, 2023[57] - The company's financial income net amount increased by 104.3% to RMB 98.8 million for the six months ended December 31, 2023, from RMB 48.3 million for the same period in 2022, primarily due to increased interest income from bank deposits[55] Store Expansion - The number of MINISO stores increased from 5,791 as of June 30, 2023, to 6,413 as of December 31, 2023, indicating a growth of 10.8% in store count[11] - The number of TOP TOY stores increased from 118 to 148 during the same period, showing a growth of 25.4%[11] - As of December 31, 2023, the total number of Miniso stores reached approximately 6,400, with over 3,900 stores in China and around 2,500 stores overseas[13] - The number of Miniso stores in China increased from 3,604 on June 30, 2023, to 3,926 on December 31, 2023, representing a net increase of 322 stores[16] - The number of TOP TOY stores in China grew from 118 on June 30, 2023, to 148 on December 31, 2023, with a net increase of 30 stores[14] - The number of overseas direct-operated stores rose from 176 on June 30, 2023, to 238 on December 31, 2023, indicating a net increase of 62 stores[20] - In overseas markets, the total number of stores increased from 2,187 on June 30, 2023, to 2,487 on December 31, 2023, with a net increase of 300 stores[20] Market Performance - Total GMV for Miniso stores in China reached RMB 10,671 million, while overseas stores generated RMB 9,072 million[22] - The total GMV generated by the group for the six months ended December 31, 2023, was approximately RMB 14.3 billion[11] - Online channels in China contributed a total GMV of RMB 670 million, marking a significant increase from RMB 321 million[25] - TOP TOY brand achieved a total GMV of RMB 606 million, with an average revenue per store of RMB 5.0 million[26] - For the six months ending December 31, 2023, total revenue was RMB 7,632.5 million, with 63.5% from China and 36.5% from overseas markets[33] Strategic Initiatives - The company aims to enhance its product strength and optimize store networks as part of its long-term strategic goals for 2024[30] - Miniso plans to implement a "super store" strategy to strengthen brand image and explore growth in average store GMV[30] - The company plans to expand the TOP TOY store network in first- and second-tier cities in China while penetrating lower-tier cities[17] - The company has successfully established two brands, MINISO and TOP TOY, since its first store opening in China in 2013, enhancing its market presence[11] Corporate Governance - The company emphasizes high standards of corporate governance to protect shareholder interests and enhance corporate value[87] - The company has established three board committees: the Audit Committee, the Remuneration Committee, and the Nomination and Corporate Governance Committee to oversee specific areas of the company's affairs[90] - The Audit Committee reviewed the unaudited consolidated results for the six months ended December 31, 2023, and confirmed that the financial data disclosed is preliminary and subject to audit[92] - The company has complied with the Corporate Governance Code, except for the recommendation regarding the separation of the roles of Chairman and CEO, which are held by the same individual[88] Employee and Compensation - As of December 31, 2023, the company had a total of 4,964 full-time employees, with 2,375 located in China and 2,589 in various overseas countries[72] - The total compensation cost for the six months ended December 31, 2023, was RMB 580.8 million, down from RMB 819.6 million for the year ended June 30, 2023[73] - The number of employees is adjusted based on needs, and compensation is determined according to industry practices[73] - The company regularly reviews employee compensation policies and may grant discretionary bonuses and stock options based on individual performance evaluations[73] Financial Position - The total assets as of December 31, 2023, amounted to RMB 14,485,309 thousand, a decrease from RMB 13,447,713 thousand as of June 30, 2023[106] - The total liabilities as of December 31, 2023, were RMB 5,294,092 thousand, a decrease from RMB 4,529,445 thousand as of June 30, 2023[108] - The total equity attributable to shareholders as of June 30, 2023, is RMB 8,918,268 thousand, a decrease from RMB 7,027,400 thousand as of July 1, 2022[109] - The company's current ratio as of December 31, 2023, was 2.3, down from 2.5 as of June 30, 2023, primarily due to increases in trade and other payables and lease liabilities[45] Legal and Compliance - The company has faced a lawsuit regarding unfair competition, resulting in a payment of RMB 30.0 million to the plaintiff[69] - The company has established internal control measures for investment decisions to ensure reasonable returns while mitigating high investment risks[63] - The company has no pledged assets as of December 31, 2023[62] Shareholder Returns - The company declared a special cash dividend of USD 0.2900 per American depositary share and USD 0.0725 per ordinary share, totaling approximately USD 90.5 million, which is about 50% of the adjusted net profit for the six months ended December 31, 2023[101] - The company has authorized a share repurchase plan allowing for the buyback of up to $200 million worth of shares starting from September 15, 2023[176] - The company repurchased a total of 708,400 shares of common stock on the Hong Kong Stock Exchange for a total consideration of HKD 26,290,421, with a price range of HKD 36.35 to HKD 37.85 per share[97] - On the New York Stock Exchange, the company repurchased 1,450,108 American Depositary Shares for a total consideration of USD 6,981,016, with a price range of USD 4.57 to USD 4.9825 per share[99]
名创优品(09896) - 2023 - 年度业绩