MNSO(MNSO) Prnewswire·2024-08-30 08:31Core Viewpoint - MINISO Group reported strong financial results for the June Quarter and the First Half of 2024, with significant revenue growth and improved profitability metrics, driven by expansion in both domestic and international markets [1][9]. Financial Highlights for the June Quarter - Revenue increased by 24.1% year over year to RMB4,035.2 million (US244.0 million), with a gross margin of 43.9%, a record high [2][15]. - Operating profit increased by 8.9% year over year to RMB751.5 million (US86.0 million), despite a net foreign exchange loss [2][18]. - Adjusted EBITDA increased by 17.1% year over year to RMB1,002.0 million (US1,067.6 million) [3]. - Gross profit rose by 37.9% year over year to RMB3,389.8 million (US205.7 million) [3]. - Adjusted net profit grew by 17.8% year over year to RMB1,241.9 million (US270.7 million) [3][26]. Operational Highlights - The total number of MINISO stores reached 6,868 as of June 30, 2024, with 455 net new stores opened in the First Half of 2024 [4]. - The number of MINISO stores in mainland China was 4,115, with 189 net new stores opened [4]. - Overseas markets saw a record opening of 266 net new stores, totaling 2,753 stores [4][6]. Strategic Comments - The CEO highlighted the successful execution of the five-year strategic plan, with significant progress in expanding the store network and achieving double-digit same-store sales growth in overseas markets [9]. - The CFO noted that despite ongoing investments in overseas markets, the company maintained healthy profitability levels, with a focus on disciplined financial strategies [10][11]. Dividend Declaration - The board approved an interim cash dividend of approximately US$85.5 million (RMB621.3 million), representing about 50% of the adjusted net profit for the First Half of 2024 [12].