Miniso Group Holding Ltd. · HKEX:9896
Miniso — Q1 2024 Earnings Presentation
22 slides from Miniso's earnings presentation, Nov 21, 2023
Slide 1: Investor Presentation Nov 2023
Investor Presentation Nov 2023
Slide 2: Quarterly Updates
Quarterly Updates
Slide 3: Highlights
Highlights Our overall performance MINISO store number once again reached new heights surpassed 6,000 for the first time MINISO MINISO Stores MINISO Stores Revenue YoY 36.7% Gross margin 2022Q3 35.7% Stores in China in overseas 3,791 41.8% 6,115 3,802 2,313 in RMB million QoQ 16.6% 2023Q2 39.8% Hist
Slide 4: MINISO China: High Quality Growth
MINISO China: High Quality Growth Sep Quarter of 2023 Oct of 2023 Offline store GMV Average Average Offline store GMV GMV per store order transaction GMV per store YoY YoY number value YoY YoY YoY YoY ~40% +22% +17% +3% 41% +11% GMV per store of the first 10 months of CY2023 in line with expectation
Slide 5: MINISO China: Daily Sales per Store Trend on a Weekly Basis QTD
6.25-7.01 7.02-7.08 7.09-7.15 7.16-7.22 7.23-7.29 7.30-8.05 8.06-8.12 8.13-8.19 8.20-8.26 8.27-9.02 9.03-9.09 9.10-9.16 9.17-9.23 9.24-9.30 10.01-10.07 MINISO China: Daily Sales per Store Trend on a Weekly Basis QTD 10.08-10.14 2023 10.15-10.21 10.22-10.28 2019 10.29-11.04 11.05-11.11 5
Slide 6: MINISO Overseas Continued to Grow at a High Speed
MINISO Overseas Continued to Grow at a High Speed Sep Quarter Jun Quarter Sep Quarter in RMB million 2022 2023 2023 YoY QoQ Revenue 920 1,115 1,295 41% 16% -Distributor markets 606(66%) 609(55%) 703(54%) 16% 15% -Directly operated markets 314(34%) 506(45%) 592(46%) 89% 17% GMV by Markets 1,948 2,403
Slide 7: MINISO Overseas: Store & GMV
MINISO Overseas: Store & GMV Sep Quarter 2023 Store GMV (in RMB million) Revenue (in RMB million) Number Percent（%） YoY Volume Percent（%） YoY Volume Percent（%） YoY Overseas Stores 2,313 286 2,879 48% 1,295 41% -Directly operated markets 678 29% 111 765 27% 80% 592 46% 89% -Distributor markets 1,635
Slide 8: Top 20 Markets Accounted for ~80% GMV and Recovered Better
Top 20 Markets Accounted for ~80% GMV and Recovered Better GMV per Store GMV per Store Comparable sales Comparable sales Store Store Rank Market Share of GMV growth rate recovery rate growth rate recovery rate net addition numbers (vs 2022Q3) (vs 2019Q3) (vs 2022Q3) (vs 2019Q3) (YTD) 1 Mexico 23% 49
Slide 9: MINISO Overseas: Store Addition
MINISO Overseas: Store Addition Sep Quarter Net Addition Forecast 2023 (YTD) (Q4) Overseas Stores 2,313 198 100-200 By Region Asian excluding China 1,264 98 Latin America 514 43 North America 140 22 Europe 218 33 Others 177 2 -Directly Operated Markets 678 78 India ~240 18 Indonesia ~240 21 U.S.A ~9
Slide 10: "Disney Train" & "MINISO Wink"
"Disney Train" & "MINISO Wink" 联合迪士尼100周年打造“笑绒专列”，融合名创优品的超级符号-“Wink” 10
Slide 11: "Fancy Fragrance, Good Things Happen"
“Fancy Fragrance, Good Things Happen“ “花式上香 好事花生”花艺香薰快闪活动 11
Slide 12: Best-selling Products in September Quarter
Best-selling Products in September Quarter 12
Slide 13: Initial Success of MINISO's First "Blind Box Store"
Initial Success of MINISO’s First "Blind Box Store" 13
Slide 14: First Theme Store with Sanrio in Indonesia
Celebrated Grand Opening of Our First Theme Store with Sanrio in Indonesia 14
Slide 15: TOP TOY
TOP TOY Sep Quarter Jun Quarter Sep Quarter 2022 2023 2023 YoY QoQ Revenue (in RMB million) 124 173 181 46% 5% Percentage of Revenue By Product Type -Exclusive products 26% 35% 32% -Third-party products 74% 65% 68% TOP TOY Offline Stores 109 118 122 13 4 By Type -Directly operated stores 8 9 9 1 0 -
Slide 16: TOP TOY
TOP TOY “Innovation and Mutual Benefit of Pop Toys Ecology” TOP TOY store in Shanghai Disney 16
Slide 17: New Products
MINI Sou New Products [- Q E Z IT “Xe, ler's Hollow
Slide 18: Revenue Breakdown
Revenue Breakdown Growth Drivers Sep Quarter Jun Quarter Sep Quarter Growth in average Growth in per-store in RMB million 2022 2023 2023 YoY QoQ store count sales Revenue 2,772 3,252 3,791 37% 17% Domestic Operations 1,852 2,137 2,496 35% 17% -MINISO Brand 1,700 1,952 2,307 36% 18% -MINISO China off
Slide 19: Demonstrated Resilience and Profitability
Demonstrated Resilience and Profitability Sep Quarter Jun Quarter Sep Quarter 2022 2023 2023 YoY QoQ in RMB million Revenue 2,772 3,252 3,791 37% 17% 1 -China 1,852 2,137 2,496 35% 17% -Overseas 920 1,115 1,295 41% 16% Gross profit 989 1,296 1,584 60% 22% Gross margin 35.7% 39.8% 41.8% 6% 2% S&D exp
Slide 20: Expenses by Nature
Expenses by Nature in RMB million Sep Quarter YOY 2022 Percentage(%)1 2023 Percentage(%) 1 Payroll and employee benefits 194 7% 272 7% 40% Rental and related expense 12 0.4% 34 1% 183% Depreciation and amortization 103 4% 126 3% 22% Licensing expenses 48 2% 90 2% 88% Promotion and advertising expens
Slide 21: Capital Allocation Balance Shareholder Return
Capital Allocation Balance Shareholder Return in RMB million FY 2020 FY 2021 FY 2022 FY 2023 Cash position, end of period 2,861 6,878 5,828 7,303 Net cash generated from operating activities 826 916 1,406 1,666 Capital expenditures 57 180 1,234 174 Free cash flow 769 746 172 1,492 Cash dividends pai
Slide 22: 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