Financial Performance - For the fiscal year ending December 31, 2024, the total revenue reached RMB 16,994,025 thousand, representing an increase compared to the previous year's revenue of RMB 13,838,797 thousand[2]. - The gross profit for the fiscal year was RMB 7,637,060 thousand, which is a growth from RMB 5,698,431 thousand in the previous year, indicating a gross margin improvement[2]. - Operating profit for the fiscal year was RMB 3,315,789 thousand, up from RMB 2,819,648 thousand year-over-year, reflecting a growth of approximately 17.6%[2]. - The adjusted net profit for the fiscal year was RMB 2,720,612 thousand, compared to RMB 2,356,729 thousand in the previous year, marking an increase of about 15.4%[5]. - The adjusted EBITDA for the fiscal year was RMB 4,334,325 thousand, which is an increase from RMB 3,571,405 thousand in the previous year, showing a growth of approximately 21.4%[6]. - Basic earnings per share for the fiscal year was RMB 2.11, up from RMB 1.81 in the previous year, reflecting a year-over-year increase of about 16.6%[2]. - The company reported a net profit attributable to equity shareholders of RMB 2,617,560 thousand for the fiscal year, compared to RMB 2,253,241 thousand in the previous year, indicating a growth of approximately 16.2%[2]. - The company reported a pre-tax profit of RMB 3,347.5 million for the fiscal year ending December 31, 2024[36]. - Net profit for the fiscal year ending December 31, 2024, reached RMB 2,635.4 million, representing an increase of 15.9% compared to RMB 2,274.0 million for the fiscal year ending December 31, 2023[48]. Store Expansion and Market Presence - As of December 31, 2024, the total number of Miniso stores increased from 6,413 to 7,504, representing a growth of approximately 17%[8]. - The number of TOP TOY stores increased from 148 to 276, marking an increase of approximately 86%[11]. - The number of Miniso stores in first-tier cities rose from 522 to 587, while in second-tier cities, it increased from 1,617 to 1,822[14]. - The net increase in Miniso partner stores in mainland China for the fiscal year was 457, bringing the total to 4,335[13]. - As of December 31, 2024, there were 503 direct-operated stores and 2,615 partner and agent stores in overseas markets[17]. - The number of Miniso partners in mainland China increased to 1,071, with 161 new partners added during the fiscal year[15]. - The net increase in TOP TOY stores in mainland China was significant, with 40 direct-operated stores and 236 partner stores as of December 31, 2024[11]. - Approximately 59% of the net increase in Miniso stores in mainland China came from first and second-tier cities[12]. - As of December 31, 2023, the total number of Miniso stores in overseas markets reached 2,487, with a projected increase to 3,118 by December 31, 2024, representing a growth of approximately 25.3%[19]. Revenue and Sales Growth - The total GMV generated by the group for the fiscal year ending December 31, 2024, was approximately RMB 30.4 billion[8]. - The total GMV for Miniso in overseas markets was RMB 10,989 million for the twelve months ending December 31, 2023, with an expected increase to RMB 14,001 million for the fiscal year 2024, indicating a growth of about 27.4%[23]. - The total GMV for Miniso in mainland China was RMB 13,035 million for the twelve months ending December 31, 2023, with a forecasted increase to RMB 14,008 million for the fiscal year 2024, showing a growth of approximately 7.5%[22]. - The same-store GMV growth rate in overseas markets was projected to be between 25% and 30% for the twelve months ending December 31, 2023[23]. - Revenue for the year ended December 31, 2024, was RMB 16,994,025 thousand, a significant increase from RMB 7,632,467 thousand for the six months ended December 31, 2023, indicating a growth of approximately 123%[87]. - The gross profit for the year ended December 31, 2024, was RMB 7,637,060 thousand, compared to RMB 3,241,039 thousand for the six months ended December 31, 2023, reflecting a gross margin improvement[87]. - Operating profit for the year ended December 31, 2024, reached RMB 3,315,789 thousand, up from RMB 1,553,707 thousand for the six months ended December 31, 2023, marking an increase of approximately 113%[87]. - The net profit attributable to equity shareholders for the year ended December 31, 2024, was RMB 2,617,560 thousand, compared to RMB 1,248,405 thousand for the six months ended December 31, 2023, representing a growth of about 110%[87]. Expenses and Financial Management - The cost of sales for the fiscal year ending December 31, 2024, was RMB 9,357.0 million, up from RMB 8,140.4 million for the previous year[38]. - Sales and distribution expenses for the fiscal year ending December 31, 2024, amounted to RMB 3,519.5 million, a 54.3% increase from RMB 2,281.1 million for the fiscal year ending December 31, 2023[41]. - General and administrative expenses for the fiscal year ending December 31, 2024, were RMB 931.7 million, a 37.5% increase from RMB 677.4 million for the fiscal year ending December 31, 2023[42]. - The total expenses for the year ended December 31, 2024, were RMB 13,808,150 thousand, compared to RMB 6,112,231 thousand for the six months ended December 31, 2023, indicating an increase of approximately 126%[119]. - The company's financial costs, including interest on loans and lease liabilities, totaled RMB 92,915,000 for the year ended December 31, 2024[122]. Shareholder Returns and Dividends - The company has authorized a share repurchase plan with a potential value of up to HKD 2 billion, extending the plan's duration until June 30, 2026[32]. - A special cash dividend of USD 0.2900 per American Depositary Share or USD 0.0725 per share was approved, totaling approximately USD 90.5 million, paid on April 9, 2024[84]. - A mid-term cash dividend of USD 0.2744 per American Depositary Share or USD 0.0686 per share was approved, totaling approximately USD 85.5 million, paid on September 23, 2024[84]. - The company repurchased a total of 5,997,000 shares for a total consideration of HKD 186.5 million on the Hong Kong Stock Exchange and 1,415,586 American Depositary Shares for USD 22.7 million on the New York Stock Exchange during the fiscal year ending December 31, 2024[77]. - The total number of shares repurchased and canceled accounted for approximately 1% of the company's total share capital as of December 31, 2024[77]. Strategic Initiatives and Future Outlook - The company plans to acquire a 29.4% stake in Yonghui Superstores for RMB 6,270 million, which is expected to enhance its market presence in the retail sector[27]. - The company aims to enhance its product strength and optimize its store network as part of its long-term strategic goals for 2025[33]. - The company plans to continue expanding its market presence, with a focus on increasing the number of stores and enhancing product offerings in the Miniso and TOP TOY brands[106]. - The company has outlined a future outlook with a revenue growth target of 10% for the upcoming fiscal year[94]. - New product launches are expected to drive additional revenue, with projections estimating an increase of 5% from these initiatives[94]. - Market expansion strategies include entering three new international markets, projected to contribute an additional 1,000,000 million RMB in revenue[94]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget allocation of 1,045.090 million RMB for potential mergers[96]. Governance and Compliance - The company has established three board committees, including the Audit Committee, Compensation Committee, and Nomination and Corporate Governance Committee, to oversee specific areas of its affairs[70]. - The company has adopted a securities trading policy to regulate all securities transactions conducted by its directors and relevant employees[68]. - The company has complied with all applicable provisions of the Corporate Governance Code during the fiscal year ending December 31, 2024, except for the separation of the roles of Chairman and CEO[67].
名创优品(09896) - 2024 - 年度业绩