MINISO Group Reports Strong Revenue Growth and Global Expansion in 2024

MINISO Reports Robust Financial Performance and Global Expansion

MINISO Group Holding Limited, a prominent player in the global retail market, unveils its impressive financial results for the fiscal year ending December 31, 2024. The company experiences a remarkable 22.8% increase in revenue, achieving RMB16,994.0 million (approximately US$2,328.2 million). This growth underscores MINISO's effective strategies in navigating the competitive landscape of retail, particularly in the budget-friendly segment. The company's gross profit also sees a significant boost, rising 34.0% to RMB7,637.1 million (US$1,046.3 million), reflecting enhanced operational efficiencies and a refined product offering that resonates with consumers.

A standout feature of MINISO's performance is its record gross margin, which reaches 44.9%, a notable improvement from 41.2% in 2023. This increase indicates that the company is not only growing its revenue but also managing its costs effectively. Operating profit rises by 17.6% to RMB3,315.8 million (US$454.3 million), while the company's profit for the period grows by 15.9% to RMB2,635.4 million (US$361.1 million). Adjusted net profit follows suit with a 15.4% year-over-year increase, highlighting MINISO's strong financial health and operational capability. The adjusted diluted earnings per American Depositary Share (ADS) also reflect this upward trend, climbing by 16.0% to RMB8.68 (US$1.19).

In addition to its financial achievements, MINISO continues to expand its global presence. The company opens 1,219 new stores in 2024, bringing its total to 7,780 locations worldwide, with 3,118 of these situated overseas. This expansion signifies MINISO's commitment to increasing its brand footprint and catering to a diverse international clientele. The company also returns substantial value to shareholders, distributing RMB1,574.5 million through cash dividends and share repurchases. With a solid cash position of RMB6,698.1 million (US$917.6 million) as of December 31, 2024, and net cash from operating activities at RMB2,168.3 million (US$297.1 million), MINISO's financial stability positions it favorably for future growth and investment opportunities.

As MINISO continues to capitalize on its growth strategies and global expansion initiatives, the company showcases its resilience in the retail industry and dedication to delivering value to its shareholders, setting a strong foundation for sustained success in the coming years.