Miniso Group Holding Ltd. · HKEX:9896
Miniso — Q2 2024 Earnings Presentation
20 slides from Miniso's earnings presentation, Aug 30, 2024
Slide 1: Investor Presentation
Investor Presentation Mar 2024
Slide 2: Business Updates
Business Updates
Slide 3: Business Highlights
Business Highlights Record Q4 & Full Year Results Record New Store Opening Revenue YoY +54.0% Gross margin 2022Q4 40.0% MINISO Stores MINISO Stores in China MINISO Stores in overseas 3,841 43.1% 6,413 3,926 2,487 in RMB million QoQ +1.3% 2023Q3 41.8% Adj net profit YoY +77.0% Adj net profit 2022Q4 1
Slide 4: Warren Buffett quote on happiness
I can certainly define happiness, because happiness is what I am. I get to do what I like to do every single day of the year. I tap dance to work, and when I get there I think I’m supposed to lie on my back and paint the ceiling. It’s tremendous fun. Warren Buffett 4
Slide 5: MINISO China: High Quality Growth
MINISO China: High Quality Growth Jan-Feb Chinese Dec Quarter of 2023 Calendar Year 2023 of 2024 New Year Offline store Offline same- Offline store Offline same- Offline store Offline same- GMV store sales GMV store sales GMV store sales YoY YoY YoY YoY YoY YoY +66% +32% +39% +25% +13% +10% 5 1. Chi
Slide 6: Overseas Continued to Grow at a High Speed
MINISO Overseas Continued to Grow at a High Speed Dec Quarter Sep Quarter Dec Quarter in RMB million 2022 2023 2023 YoY QoQ CY2023 YoY Revenue 987 1,295 1,494 51% 15% 4,705 47% -Directly operated markets 415(42%) 592(46%) 771(52%) 86% 30% 2,240(48%) 83% -Distributor markets 572(58%) 703(54%) 723(48%
Slide 7: Overseas: Store & GMV (Dec Quarter 2023)
MINISO Overseas: Store & GMV（Dec Quarter 2023） Dec Quarter 2023 Store GMV (in RMB million) Revenue (in RMB million) Number Percent（%） YoY Volume Percent（%） YoY Volume Percent（%） YoY Overseas Stores 2,487 372 3,573 38% 1,494 51% -Directly operated markets1 786 32% 186 1,006 28% 76% 771 52% 86% -Distr
Slide 8: Overseas: Store & GMV (CY2023)
MINISO Overseas: Store & GMV（CY2023） CY2023 Store GMV (in RMB million) Revenue (in RMB million) Number Percent（%） YoY Volume Percent（%） YoY Volume Percent（%） YoY Overseas Stores 2,487 372 10,989 42% 4,705 47% -Directly operated markets1 786 32% 186 2,918 27% 68% 2,240 48% 83% -Distributor markets1 1
Slide 9: Overseas: SSSG By Region
MINISO Overseas: SSSG By Region Dec Quarter 2023 CY2023 Net addition Same-store sales Same-store sales Number of of stores growth rate growth rate stores (YoY) (YoY) (YoY) Overseas 19% 26% 2,487 372 Directly operated markets1 39% 45% 786 186 1 Distributor markets 13% 22% 1,701 186 By Region North Am
Slide 10: Overseas: Store Addition
MINISO Overseas: Store Addition Dec Quarter Net Addition Net Addition Forecast 2023 (QoQ） (YoY) CY2024 Overseas Stores 2,487 174 372 550-650 By Region Asian excluding China 1,333 69 167 Latin America 552 38 81 North America 172 32 54 Europe 231 13 46 Others 199 22 24 -Directly Operated Markets1 786
Slide 11: Strategic Roadmap
MINISO Strategic Roadmap Mission Life is for fun Vision To become the world's No.1 IP design retail group Strategy Focus on product innovation (IP Design) , affordability and globalization Open 900-1,100 net new stores Goals in each year from 2024 to 2028, 2024-2028 CAGR of Revenue ≥ 20% 2028 IP Pro
Slide 12: meee SO
¥ meee SO MICKEY MOUSE RESET = a Blind boxes Sey re Toy sToRY DR iF th 43 Traveling SESAME STREET MIKKO. ot SIR eI a Dea : 7 , A we 3 Plush toys orape, moa Bioey CG FANTASIA My Pada FANTASIA ©) Perfume and TURNING RED Frontend Fragrance
Slide 13: Focus on Globalization: Expanding Global Store Network
Focus on Globalization Expanding Global Store Network 13
Slide 14: TOP TOY
TOP TOY Dec Quarter Sep Quarter Dec Quarter 2022 2023 2023 YoY QoQ Revenue (in RMB million) 99 181 188 90% 4% Percentage of Revenue By Product Type -Exclusive products 35% 32% 35% -Third-party products 65% 68% 65% TOP TOY Offline Stores 117 122 148 31 26 By Type -Directly operated stores 8 9 14 6 5
Slide 15: Best-sellers
Best-sellers imi” SEA LLLSL. {PPE SILLA. CHAMELEON Ss ET Eay All Member & x a y u-2 © IRABIR Midi WBE
Slide 16: Revenue Breakdown
Revenue Breakdown Growth Drivers Dec Quarter Sep Quarter Dec Quarter Growth in average Growth in in RMB million 2022 2023 2023 QoQ YoY store count per-store revenue Revenue 2,494 3,791 3,841 1% 54% Domestic Operations 1,508 2,496 2,347 -6% 56% -MINISO Brand 1,386 2,307 2,156 -7% 56% -MINISO China of
Slide 17: Demonstrated Resilience and Profitability
Demonstrated Resilience and Profitability Dec Quarter Sep Quarter Dec Quarter 2022 2023 2023 YoY QoQ in RMB million Revenue 2,494 3,791 3,841 54% 1% 1 -China 1,508 2,496 2,347 56% -6% -Overseas 987 1,295 1,494 51% 15% Gross profit 997 1,584 1,657 66% 5% Gross margin 40.0% 41.8% 43.1% 3.1pts 1.3pts 2
Slide 18: Expenses by Nature
Expenses by Nature in RMB million Dec Quarter YOY 2022 Percentage(%)1 2023 Percentage(%) 1 Payroll and employee benefits 184 33% 309 34% 67% Rental and related expenses 8 1% 47 5% 472% Depreciation and amortization 97 18% 146 15% 51% Licensing expenses 53 9% 88 10% 65% Promotion and advertising expe
Slide 19: Capital Allocation Balance Shareholder Return
Capital Allocation Balance Shareholder Return in RMB million CY 2022 CY 2023 Cash position, end of period 6,160 6,887 Net cash generated from operating activities 1,108 2,330 Capital expenditures 192 361 Free cash flow 916 1,969 Cash dividends paid 371 924 Share repurchases 102 74 Since IPO, we have
Slide 20: About MINISO
About MINISO MINISO Group is a global value retailer offering a variety of trendy lifestyle products featuring IP design. The Company serves consumers primarily through its large network of MINISO stores, and promotes a relaxing, treasure-hunting and engaging shopping experience full of delightful s