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]
名创优品(09896) - 2023 Q1 - 季度业绩