2025-08-21 09:24Revenue Growth - Revenue increased 23.1% year over year to RMB4,966.1 million (US$693.2 million), exceeding the previous guidance of 18%-21%[6] - Revenue for the first half of 2025 was RMB9,393.1 million (US$1,311.2 million), representing a year-over-year increase of 21.1%[30] - Revenue from the MINISO brand increased by 18.1% to RMB8,649.0 million (US$1,207.4 million), with overseas markets contributing 40.9% of this revenue, up from 37.3% in the same period last year[31] - Revenue from the TOP TOY brand surged by 73.0% to RMB742.1 million (US$103.6 million), driven by rapid growth in average store counts[32] - For the three months ended June 30, 2025, MINISO's revenue reached RMB 4,966,068, representing a year-over-year increase of 23.1%[83] - Revenue from the TOP TOY brand increased by 87.0% year-over-year for the three months ended June 30, 2025, totaling RMB 402,208[83] Profitability - Operating profit rose 11.3% year over year to RMB836.2 million (US$116.7 million) with an adjusted operating profit of RMB851.8 million (US$118.9 million), up 8.5%[6][24] - Adjusted net profit increased 10.6% year over year to RMB691.5 million (US$96.5 million), with an adjusted net margin of 13.9%[6][11] - Adjusted net profit for the period was RMB1,278.7 million (US$178.5 million), compared to RMB1,241.9 million in the same period last year[40] - Adjusted EBITDA increased by 11.2% year over year to RMB2,186.8 million (US$305.3 million), with an adjusted EBITDA margin of 23.3%[40] - Basic earnings per ADS decreased to RMB2.96 (US$0.41) from RMB3.76 in the same period last year[40] - The company reported a basic earnings per share of 0.40 for the three months ended June 30, 2025, down from 0.47 in the same period of 2024[70] Store Expansion - The number of MINISO stores reached 7,612 as of June 30, 2025, representing a year-over-year increase of 744 stores[11] - The number of MINISO stores in mainland China increased from 4,115 to 4,305, a net addition of 190 stores year-over-year[85] - Overseas store count rose from 2,753 to 3,307, adding 554 stores year-over-year[86] Financial Position - Cash position was RMB7,466.1 million (US$1,042.2 million) as of June 30, 2025, compared to RMB6,698.1 million at the end of 2024[11] - Cash position as of June 30, 2025, was RMB7,466.1 million (US$1,042.2 million), an increase from RMB6,698.1 million as of December 31, 2024[42] - Total assets as of June 30, 2025, were RMB 26,647,788, compared to RMB 18,120,128 as of December 31, 2024, reflecting a 47.3% increase[60] - Cash and cash equivalents increased to RMB 7,115,183 as of June 30, 2025, from RMB 6,328,121 as of December 31, 2024, indicating a growth of 12.5%[60] - Total equity attributable to equity shareholders of the Company was RMB 10,852,107 as of June 30, 2025, up from RMB 10,314,974 as of December 31, 2024, representing a 5.2% increase[63] Expenses and Costs - Selling and distribution expenses increased 40.4% year over year, primarily due to investments in directly operated stores[20] - Net finance cost was RMB128.4 million (US$17.9 million), compared to net finance income of RMB34.0 million in the same period last year[37] - The company experienced a net finance cost of RMB 79,370 for the three months ended June 30, 2025, compared to a net finance income of RMB 9,030 in the same period of 2024[69] - The finance costs excluding interest expenses related to the Equity Linked Securities for the three months ended June 30, 2025, were RMB 34,685[79] Other Financial Metrics - Gross margin improved to 44.3%, up 0.4 percentage points year over year, driven by higher revenue from overseas markets[19] - Gross profit reached RMB4,156.9 million (US$580.3 million), an increase of 22.6% year over year, with a gross margin of 44.3%[33] - Profit for the period for the three months ended June 30, 2025, was RMB 489,531, a decrease of 17.2% from RMB 591,425 in the same period of 2024[70] - Share of loss of equity-accounted investees was RMB138.9 million (US$19.4 million), compared to a profit of RMB0.3 million in the same period last year[38] - The share of loss from Yonghui, net of tax, was RMB 119,335 for both the three and six months ended June 30, 2025[79]