A Detailed Look at MINISO Group's Impressive Financial Performance in 2024

Overview of MINISO Group's Performance

MINISO Group Holding Limited has unveiled its unaudited financial results for the December quarter and the entire year 2024, demonstrating a strong performance that reflects its strategic initiatives and commitment to growth. As a prominent global retailer, MINISO offers a range of lifestyle products with a focus on stylish design and affordability.

Financial Highlights

For the year ending December 31, 2024, MINISO reported a substantial total revenue of RMB 16.99 billion (approximately USD 2.33 billion), marking a 22.8% increase year-on-year. The growth was largely driven by an 18.3% rise in the average number of stores in operation as MINISO continues to extend its reach across various markets. Its gross profit also soared by 34%, rising to RMB 7.64 billion (around USD 1.05 billion), which resulted in a remarkable gross margin of 44.9%—an increase from 41.2% in 2023. This signifies a robust business model with a rising capacity to drive profitability despite growing operational costs.

In terms of operational achievements, the total number of MINISO stores reached 7,780, with the company successfully launching 1,219 new stores throughout the year. A key milestone was the 3,000-store count surpassed in overseas markets, showcasing the brand's successful globalization strategy. Notably, MINISO's brand revenue from overseas operations grew by a striking 41.9%, while revenue in mainland China saw a 10.9% increase.

Shareholder Returns and Financial Strategy

Reflecting its commitment to returning value to shareholders, MINISO distributed an impressive RMB 1.57 billion in total shareholder returns through dividends and share repurchases in 2024. This included approximately RMB 1.24 billion in cash dividends, emphasizing the company's focus on rewarding those who invest in its growth. CEO Guofu Ye noted that the strategic positions and product innovations have positioned MINISO favorably for the future, allowing for a blend of interest-driven consumption and an expanded global presence.

Outlook for 2025

Looking ahead, MINISO Group's leadership has outlined optimistic expectations for 2025, projecting further growth across existing and new markets. With plans to improve sales per square meter and enhance store economics, MINISO aims to sustain its momentum while maintaining a healthy profit margin. Additionally, the company has committed to integrating sustainability efforts into its daily operations, epitomizing a balanced capital allocation strategy. The upcoming fiscal period promises opportunities for innovation and enhanced consumer engagement, potentially driving MINISO to become a leading name in global retail.

Conclusion

MINISO Group's robust financial results and operational expansion are testaments to its effective strategies and dedication to delivering quality products to consumers. As it aims for continued growth and success, MINISO remains focused on establishing itself as a top player in the retail sector, enhancing shareholder value while embracing a sustainable and innovative future.

Contact and Further Information

For more detailed financial results and insights, stakeholders can refer to MINISO’s official investor relations website or join upcoming conference calls for direct updates from management.