Financial Performance - For the fiscal year ending June 30, 2023, the company reported a revenue of RMB 11,473,208 thousand, representing a year-on-year increase of 13.8% compared to RMB 10,085,649 thousand in 2022[3]. - Gross profit for the same period was RMB 4,443,052 thousand, reflecting a significant increase of 44.7% from RMB 3,069,761 thousand in the previous year[3]. - Operating profit surged to RMB 2,223,011 thousand, marking a 152.0% increase from RMB 882,027 thousand in 2022[3]. - The company achieved a net profit of RMB 1,781,829 thousand, which is a remarkable growth of 178.5% compared to RMB 639,743 thousand in the prior year[3]. - The adjusted net profit (non-IFRS) for the fiscal year was RMB 1,844,711 thousand, up 155.3% from RMB 722,578 thousand in 2022[6]. - Total revenue increased by 13.8% from RMB 10,085.6 million in 2022 to RMB 11,473.2 million in 2023, driven by a 44.6% increase in overseas market revenue and a 2.8% increase in revenue from China[35]. - The company's operating profit surged from RMB 882.0 million in 2022 to RMB 2,223.0 million in 2023, reflecting a significant improvement in operational efficiency[34]. - The net profit attributable to equity shareholders increased from RMB 638.2 million in 2022 to RMB 1,768.9 million in 2023[34]. - Basic earnings per share improved from RMB 0.53 in 2022 to RMB 1.42 in 2023, reflecting a growth of 168.0%[94]. - The company’s total comprehensive income for the year increased from RMB 680,237 thousand in 2022 to RMB 1,823,027 thousand in 2023, a growth of 168.5%[95]. Store Expansion - The number of MINISO stores increased from 5,199 to 5,791 globally, with a total of 3,604 stores in China and 2,187 overseas as of June 30, 2023[11]. - The company expanded its TOP TOY store network to 118 locations, all situated in China, as of June 30, 2023[11]. - As of June 30, 2023, the total number of stores in China reached 3,604, an increase of 11.7% from 3,226 in 2022[15]. - The number of direct-operated stores in China increased from 14 in 2022 to 15 in 2023, with a net increase of 1 store[14]. - The number of Miniso partners in China grew from 921 in 2022 to 1,040 in 2023, representing a net increase of 119 partners[17]. - In the overseas market, the total number of direct-operated stores increased from 133 in 2022 to 176 in 2023, a growth of 32.3%[20]. - The number of Miniso partner stores overseas rose from 208 in 2022 to 252 in 2023, marking a net increase of 44 stores[20]. - The total number of agents in overseas markets increased from 200 in 2022 to 229 in 2023, reflecting a net increase of 29 agents[21]. - The net increase of Miniso partner stores in China was 374 in 2023, compared to 276 in 2022, indicating a strong expansion strategy[14]. - The number of new Miniso partner stores opened in China was 546 in 2023, up from 477 in 2022, showing a growth of 14.5%[14]. - The total number of stores in low-tier cities in China increased from 1,383 in 2022 to 1,634 in 2023, a growth of 18.1%[15]. Product Development and Innovation - The company launched approximately 530 new SKUs each month, offering around 9,700 core SKUs across various product categories[9]. - The company has established brand collaborations with 80 IP licensors and independent artists to develop trendy IP products[10]. - The company plans to enhance the brand awareness of TOP TOY and expand its store network in both first and second-tier cities in China[15]. - The company is investing heavily in R&D, with a budget allocation of 850,592 thousand RMB for new technologies and product development, which is an increase of 10% from the previous year[100]. - The company has launched a new product line that has already generated 117,912 thousand RMB in sales within the first month of release, indicating strong market demand[100]. Financial Health and Investments - Cash and cash equivalents, restricted cash, time deposits, and other investments increased by 25.3% from RMB 5,828.3 million as of June 30, 2022, to RMB 7,303.3 million as of June 30, 2023[49]. - The company had a capital debt ratio of 0.1% as of June 30, 2023, calculated as loans and borrowings divided by total equity at year-end multiplied by 100%[55]. - The company has a capital commitment of RMB 982.6 million as of June 30, 2023, primarily for the construction of its headquarters building[61]. - The company reported a significant increase in interest income from RMB 66,344 thousand in 2022 to RMB 145,225 thousand in 2023, a growth of 118.5%[101]. - The company executed a successful public offering in Hong Kong, generating RMB 469,683 thousand in net proceeds after deducting underwriting commissions and other issuance costs[102]. - The company utilized a capital reserve of RMB 730,898,000 (approximately $105 million) to offset accumulated losses as of May 16, 2023[151]. Corporate Governance - The company has engaged compliance advisors to ensure adherence to the Listing Rules since its listing date[74]. - The board is committed to high standards of corporate governance to protect shareholder interests and enhance accountability[77]. - The company has established three board committees: Audit Committee, Remuneration Committee, and Nomination and Corporate Governance Committee, to oversee various aspects of governance[81][84][87]. - The Audit Committee is responsible for reviewing the integrity of financial statements and ensuring compliance with legal and regulatory requirements[83]. - The company will continue to comply with the Listing Rules and corporate governance procedures for timely disclosures[74]. Dividends and Share Buybacks - The company plans to adopt a dividend policy targeting an annual dividend of no less than 50% of adjusted net profit[31]. - A special cash dividend of USD 0.172 per ADS and USD 0.043 per share was approved on August 17, 2022, and paid on September 9, 2022[93]. - The board approved a final cash dividend of USD 0.412 per ADS and USD 0.103 per share on August 22, 2023, to be paid on September 19, 2023[93]. - The company repurchased a total of 166,000 shares for a total consideration of HKD 1,694,572 and 824,217 American Depositary Shares (ADS) for USD 4,208,433[88]. - The company authorized a new share buyback plan on September 29, 2022, allowing for the repurchase of up to $100 million worth of shares over a 12-month period[148]. - As of June 30, 2023, the company repurchased a total of 3,373,228 shares on the New York Stock Exchange, costing approximately $4.37 million[148]. Future Outlook - The company aims to expand its store network in lower-tier cities in China and explore different operational models in overseas markets to drive future growth[33]. - Future guidance suggests a cautious outlook with expectations of gradual recovery in the upcoming quarters[99]. - Market expansion efforts are underway, with plans to enter three new international markets by the end of 2023, aiming to increase market share by 5%[100]. - Future guidance indicates expected revenue growth of 10% to 15% for the upcoming quarter, driven by new product launches and market expansion strategies[100].
名创优品(09896) - 2023 - 年度业绩