Core Viewpoint - The article discusses the internal unrest at Miniso due to dissatisfaction with the newly implemented "312 system," highlighting the need for founder Ye Guofu's leadership amidst ongoing changes at both Miniso and Yonghui Supermarket [2][4][11]. Group 1: Internal Issues at Miniso - Employees expressed dissatisfaction with the "312 system," leading to a small-scale protest within work groups, where some employees were restricted from speaking and removed from groups [2][3]. - The "312 system" involves a new staffing model for the lightning warehouse business, which has caused tension between frontline employees and management [2][3]. - The management's failure to align with the company's cultural values, as previously articulated by Ye Guofu, has led to criticism from employees [6][7]. Group 2: Ye Guofu's Leadership and Focus - Ye Guofu has been primarily focused on Yonghui Supermarket's restructuring, which has diverted attention from Miniso's internal issues [4][11]. - Employees are calling for Ye Guofu to address the unrest and provide direction for the company [4][11]. - Ye Guofu's management philosophy emphasizes simplicity and efficiency, but there are concerns about the execution of these principles within the company [5][6]. Group 3: Business Performance and Strategy - Miniso reported a record high of 7,780 global stores in 2024, with a net increase of 1,219 stores, and a revenue of 16.994 billion yuan, achieving a gross profit of 7.637 billion yuan and a gross margin of 44.9% [7][8]. - Despite strong growth, the company plans to slow down store openings in 2025 to focus on store quality and same-store sales [8][10]. - The company faces challenges in same-store sales growth, which has declined from 30%-35% in 2023 to high single-digit growth in 2024, attributed to issues like store location and franchise management [9][10]. Group 4: Future Plans and Challenges - Miniso aims to upgrade smaller stores to larger formats and optimize its channel and franchise management to improve same-store sales [10]. - The company is exploring new business models, such as MINISO IP LAND, to enhance profitability while addressing the challenges of existing store performance [10][11]. - Ye Guofu's long-term vision includes increasing the share of IP product sales to 50% by 2028 and leading Chinese IP brands globally [10][11].
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