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GUANGZHOU, China, Aug. 25, 2022 /PRNewswire/ — MINISO Group Holding Limited (NYSE: MNSO; HKEX: 9896) ("MINISO", "MINISO Group" or the "Company"), a global value retailer offering a variety of design-led lifestyle products, today announced its unaudited financial results for the fourth quarter and fiscal year 2022 ended June 30, 2022.
Financial Highlights for the Fourth Quarter of Fiscal Year 2022
Financial Highlights for Fiscal Year 2022
Notes:
（1）See the sections titled "Non-IFRS Financial Measures" and "Reconciliation of Non-IFRS Financial Measures" in this press release for more information.
Operational Highlights for the Fourth Quarter of Fiscal Year 2022
The following table provides a breakdown of the number of MINISO and TOP TOY stores as well as their year-over-year and quarter-over-quarter changes of the relevant dates:
As of
June 30,
2021
March 31,
2022
June 30,
2022
YoY
QoQ
Number of MINISO stores(2)
4,749
5,113
5,199
450
86
China
2,939
3,197
3,226
287
29
—Directly operated stores
5
11
14
9
3
—Third-party stores
2,934
3,186
3,212
278
26
Overseas
1,810
1,916
1,973
163
57
—Directly operated stores
127
136
133
6
(3)
—Third-party stores
1,683
1,780
1,840
157
60
Number of TOP TOY stores(3)
33
92
97
64
5
—Directly operated stores
2
4
7
5
3
—Third-party stores
31
88
90
59
2
Notes:
（2）"MINISO stores" are any of the offline stores operated under the "MINISO" brand name, including those
directly operated by the Company, and those operated by third parties under the MINISO Retail Partner model and
the distributor model.
（3）"TOP TOY stores" are any of the offline stores operated under the "TOP TOY" brand name, including those
directly operated by the Company, and those operated by third parties under the MINISO Retail Partner model.
Mr. Guofu Ye, Founder, Chairman, and Chief Executive Officer of MINISO, commented, "MINISO Group closed fiscal year 2022 with a solid fourth quarter. Our business model has demonstrated great resilience despite the pandemic weighing on our near-term results. During this quarter, as the domestic offline retail sector faced unprecedented challenges, we focused on driving the recovery of our overseas business, which achieved nearly 50% year-on-year growth in revenue and accounted for 34% of the Company’s total revenue – the highest since the outbreak of the pandemic in early 2020. Looking back over the 2022 fiscal year, our key operating metrics have demonstrated that we are in a healthy growth phase: we added 514 stores on a net basis, representing a 11% year-on-year growth to our store network; revenue exceeded RMB10 billion, up 11% year-on-year; adjusted net profit was approximately RMB720 million, up 51% year-on-year; and the adjusted net margin was 7.2%, up nearly 2 percentage points year-on-year."
"Looking forward to the 2023 fiscal year, we are still optimistic about future revenue and profit growth despite continued uncertainty from the pandemic. This positive outlook comes from our long-term confidence in China’s economic development, our unchanged ambition for offline retail business, and our determination to achieve globalized development." Mr. Ye continued.
Mr. Saiyin Zhang, Chief Financial Officer and Executive Vice President of MINISO, commented, "I am encouraged by our strong performance in margin profiles, especially under such unprecedented challenges during the past quarter. Gross margin for the June quarter reached our record high of 33.3%, up 7.5 percentage points year over year, thanks to our flexible pricing strategy and strong bargaining power. Adjusted net profit increased by 57% on a year-over-year basis and 101% on a quarter-over-quarter basis, and adjusted net margin reached 9.6%, the highest level in the past 10 quarters, returning to a level similar to what we achieved before the pandemic."
"We are also pleased to declare a cash dividend of about RMB360 million recently, 20% higher than the cash dividend we paid last year. Going forward, our capital allocation strategy will balance new growth opportunities and our commitment to bringing stable returns to shareholders. As we approach the last month of the September quarter, we have witnessed encouraging signs of a sales recovery in China, which has stabilized at a healthy level during the past several weeks. Looking forward to the coming quarters, we expect our bottom line performance will further normalize because of our disciplined execution of brand upgrade and steady recovery of overseas operations." Mr. Zhang concluded.
Recent Developments
Impact of COVID-19
The resurgences of the Omicron variants of COVID-19 continued to impact the Company’s operations and results in the quarter ended June 30, 2022.
In China, regional Omicron outbreaks resulted in reduced traffic to shopping malls where MINISO and TOP TOY stores are located and led to temporary suspension of operations of certain stores. The average number of MINISO stores that were temporarily closed was about 380, 280 and 60 in April, May and June, representing about 12%, 9% and 2% of MINISO stores in China, respectively. The Company estimates that the GMV loss from the negative impacts of the resurgences of COVID-19 amounted to approximately RMB700 million in this quarter. Going into the quarter ending September 30, 2022, the Company currently expects the impact of COVID-19 to persist, especially in first- and second-tier cities and relevant pandemic control measures will continue to be in place.
In overseas markets, although we have observed encouraging sales recovery in certain countries and regions, including in Europe and the Americas, we are also seeing relatively slow recovery trends in Asian countries excluding China. As of June 30, 2022, 81 overseas MINISO stores, or 4% of the total, had not resumed operations, compared to 74 such stores as of March 31, 2022. The majority of these stores were concentrated in Asian countries excluding China, and in Latin America.
Special Cash Dividend
On August 17, 2022, MINISO’s board of directors approved a special cash dividend in the amount of US$0.172 per ADS, or US$0.043 per ordinary share, payable as of the close of business on September 9, 2022 to the holders of ADSs and ordinary shares of record as of the close of business on August 31, 2022, New York Time and Beijing/Hong Kong Time, respectively. The ex-dividend date will be August 30, 2022. The aggregate amount of cash dividends to be paid is approximately US$53.5 million (RMB360.8 million at an exchange rate of RMB6.7425 to US$1.0000), which will be funded by surplus cash on the Company’s balance sheet.
Unaudited Financial Results for the Fourth Quarter of Fiscal Year 2022
Revenue was RMB2,317.7 million (US$346.0 million), compared to RMB2,472.4 million in the same period of 2021, primarily due to the negative influences by the resurgence of COVID-19 pandemic on the Company’s domestic operations.
Revenue generated from domestic operations was RMB1,532.9 million (US$228.9 million), compared to RMB1,946.3 million in the same period of 2021. The year-over-year decrease was (i) primarily driven by a decrease of revenue from MINISO brand from RMB1,822.7 million to RMB1,410.1 million (US$210.5 million), as a result of the most stringent restrictive measures taken by local governments since 2020, and (ii) partially offset by a 32.8% year-over-year increase in revenue from TOP TOY brand. For more information of the composition and year-over-year change of revenue, please refer to the "Unaudited additional information" in this press release.
Revenue generated from international operations was RMB784.8 million (US$117.2 million), representing an increase of 49.2% year over year, which reflects an improved recovery of sales in international markets, especially in American countries such as Mexico, the United States and Canada, and Asian countries excluding China such as India and Indonesia. Asian countries excluding China and Americas are our largest and second largest overseas markets in terms of store count and GMV, respectively.
Cost of sales was RMB1,545.8 million (US$230.8 million), representing a decrease of 15.7% year over year.
Gross profit was RMB771.9 million (US$115.2 million), representing an increase of 20.8% year over year.
Gross margin was 33.3%, compared to 25.8% in the same period of 2021. The year-over-year increase was primarily because (i) revenue contribution from international operations, which typically have higher gross margin than domestic operations, increased from 21.3% in the same period of 2021 to 33.9% in this quarter, and (ii) higher gross margin contributed by newly launched products in relation to our execution of strategic brand upgrade of MINISO in China.
Other income was RMB5.0 million (US$0.8 million), compared to RMB4.1 million in the same period of 2021.
Selling and distribution expenses were RMB354.7 million (US$53.0 million), representing an increase of 25.4% year over year. Excluding share-based compensation expenses, selling and distribution expenses were RMB345.6 million (US$51.6 million), representing an increase of 31.0% year over year. The year-over-year increase was primarily attributable to (i) increased logistics expenses in relation to our recovering international operations, (ii) increased personnel-related expenses, and (iii) increased licensing expenses in relation to our newly launched IP products, partially offset by our savings in promotion and advertising expenses due to our reduced marketing efforts in China to tackle the resurgence of COVID-19.
General and administrative expenses were RMB184.8 million (US$27.6 million), representing a decrease of 7.7% year over year. Excluding share-based compensation expenses, general and administrative expenses were RMB179.5 million (US$26.8 million), representing a decrease of 4.6% year over year. The year-over-year decrease was primarily due to decreased personnel-related expenses.
Other net income was RMB40.8 million (US$6.1 million), compared to RMB21.9 million in the same period of 2021. Other net income mainly consists of net foreign exchange gain, investment income from wealth management products and others. The year-over-year increase was mainly attributable to a net foreign exchange gain of RMB28.5 million in this quarter, compared to a net foreign exchange loss of RMB10.1 million in the same period of 2021, which was partially offset by a decrease in investment income from wealth management products as a result of reduced principal of such products.
Operating profit was RMB272.1 million (US$40.6 million), representing an increase of 44.9% year over year.
Profit for the period was RMB208.5 million (US$31.1 million), representing an increase of 87.5% year over year.
Adjusted net profit(1), which represents profit for the period excluding equity-settled share-based payment expenses, was RMB222.9 million (US$33.3 million), representing an increase of 56.9% year over year.
Adjusted net margin(1) was 9.6%, compared to 5.7% in the same period of 2021.
Basic and diluted earnings per American Depositary Share ("ADS") were RMB0.68 (US$0.10) in this quarter, compared to basic and diluted earnings per ADS of RMB0.38 in the same period of 2021. Each ADS represents four of the Company’s ordinary shares.
Adjusted basic and diluted earnings per ADS(1) were both RMB 0.72 (US$0.11) in this quarter, compared to RMB0.48 in the same period of 2021.
As of June 30, 2022, the combined balance of the Company’s cash, cash equivalents, restricted cash, term deposits with original maturity over three months, and other investments amounted to RM5,828.3 million (US$870.1million).
Fiscal Year 2022 Financial Results
Revenue was RMB10,085.6 million (US$1,505.7 million), representing an increase of 11.2% year over year.
Revenue generated from the Company’s domestic operations was RMB7,442.1 million (US$1,111.1 million), increasing by 2.1% year over year. Revenue generated from domestic operations of MINISO brand was RMB6,825.2 million (US$1,019.1 million), compared to RMB6,955.5 million in the prior year. Revenue generated from TOP TOY was RMB446.9 million (US$66.7 million), representing an increase of 354.9% year over year.
Revenue generated from the Company’s international operations was RMB2,643.5 million (US$394.7 million), representing an increase of 48.5% year over year.
Cost of sales was RMB7,015.9 million (US$1,047.4 million), representing an increase of 5.6% year over year.
Gross profit was RMB3,069.8 million (US$458.3 million), representing an increase of 26.3% year over year.
Gross margin was 30.4%, compared to 26.8% in fiscal year 2021. The year-over-year increase in gross margin was primarily due to (i) an increase in revenue contribution from the Company’s international operations, which generally have a higher gross margin than the Company’s domestic operations. International operations contributed 26.2% of the Company’s total revenue in fiscal year 2022, compared to 19.6% in fiscal year 2021, and (ii) higher gross margin contributed by newly launched products in relation to our execution of strategic brand upgrade of MINISO in China.
Other income was RMB25.9 million (US$3.9 million), compared to RMB52.1 million in fiscal year 2021.
Selling and distribution expenses were RMB1,442.3 million (US$215.3 million), compared to RMB1,206.8 million in fiscal year 2021. Excluding share-based compensation expenses, selling and distribution expenses were RMB1,390.3 million (US$207.6 million), compared to RMB1,075.6 million in fiscal year 2021. The year-over-year increase was primarily attributable to (i) increased personnel-related expenses; (ii) increased licensing expenses in relation to our enlarging IP library and enriching offerings of IP products; and (iii) increased promotion and advertising expense, mainly in connection with our strategic brand upgrade of MINISO in China.
General and administrative expenses were RMB816.2 million (US$121.9 million), compared to RMB810.8 million in fiscal year 2021. Excluding share-based compensation expenses, general and administrative expenses were RMB785.4 million (US$117.3 million), compared to RMB660.7 million in fiscal year 2021. The year-over-year increase was primarily due to (i) increased depreciation and amortization expenses, mainly related to the land use right of the Company’s headquarters building project; and (ii) increased personnel-related expenses, which were partially offset by decreased office operating expense as a result of expense control measures taken by the Company to tackle the resurgence of COVID-19 in China.
Other net income was RMB87.3 million (US$13.0 million), compared to a loss of RMB40.4 million in fiscal year 2021. The year-over-year change was mainly due to a net foreign exchange gain of RMB14.0 million (US$2.1 million) in fiscal year 2022, compared to a net foreign exchange loss of RMB114.2 million in fiscal year 2021.
Operating profit was RMB882.0 million (US$131.7 million), representing an increase of 119.9% year over year.
Profit for the period was RMB639.7 million (US$95.5 million), compared to a loss of RMB1,429.4 million in the prior fiscal year.
Adjusted net profit(1), which represents net profit excluding (i) fair value changes of redeemable shares with other preferential rights and (ii) equity-settled share-based payment expenses, was RMB722.6 million (US$107.9 million) in fiscal year 2022, representing an increase of 51.4% year over year.
Adjusted net margin(1) was 7.2%, compared to 5.3% in fiscal year 2021.
Adjusted basic earnings per ADS(1) was RMB2.40 (US$0.36) in fiscal year 2022, compared to RMB1.68 in fiscal year 2021.
Adjusted diluted earnings per ADS(1) was RMB2.36 (US$0.35) in fiscal year 2022, compared to RMB1.68 in fiscal year 2021.
Conference Call
The Company’s management will hold an earnings conference call at 8:00 A.M. Eastern Time on Thursday, August 25, 2022 (8:00 P.M. Beijing Time on the same day) to discuss the financial results. The conference call can be accessed via the following zoom link or by dialing the following numbers:
Access 1
Zoom link:
https://dooyle.zoom.us/j/87479825938?pwd=OVozeDBjNzhicDdiNnZsQTJhSnNNUT09
Meeting Number: 874 7982 5938
Meeting Passcode: 9896
Access 2
Listeners may access the call by dialing the following numbers with the same meeting number and passcode with Access 1.
United States Toll Free:
833 548 0276 (or +1 646 518 9805)
Mainland China Toll Free:
400 182 3168 (or 400 616 8835)
Hong Kong, China (Charge Fees):
+852 5803 3730 (or +852 5803 3731)
United Kingdom (Charge Fees):
+44 203 481 5237 (or +44 131 460 1196)
France (Charge Fees):
+33 1 7037 9729 (or +33 1 7037 2246)
Singapore (Charge Fees):
+65 3158 7288 (or +65 3165 1065)
Canada (Charge Fees):
+1 438 809 7799 (or +1 204 272 7920)
Access 3
Listeners can also access the meeting through the Company’s investor relations website at http://ir.miniso.com/.
A replay will be available approximately two hours after the conclusion of the live event at the Company’s investor relations website at http://ir.miniso.com/.
About MINISO Group
MINISO Group is a global value retailer offering a variety of design-led lifestyle products. 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 surprises that appeals to all demographics. Aesthetically pleasing design, quality and affordability are at the core of every product in MINISO’s wide product portfolio, and the Company continually and frequently rolls out products with these qualities. Since the opening of its first store in China in 2013, the Company has built its flagship brand "MINISO" as a globally recognized retail brand and established a massive store network worldwide. For more information, please visit https://ir.miniso.com/.
Exchange Rate
The U.S. dollar (US$) amounts disclosed in this press release, except for those transaction amounts that were actually settled in U.S. dollars, are presented solely for the convenience of the readers. The conversion of Renminbi (RMB) into US$ in this press release is based on the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of June 30, 2022, which was RMB6.6981 to US$1.0000. The percentages stated in this press release are calculated based on the RMB amounts.
Non-IFRS Financial Measures
In evaluating the business, MINISO considers and uses adjusted net profit, adjusted net margin, adjusted basic and diluted earnings per share and adjusted basic and diluted earnings per ADS as supplemental measures to review and assess its operating performance. The presentation of these non-IFRS financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with IFRS. MINISO defines adjusted net profit as profit for the period excluding (i) fair value changes of redeemable shares with other preferential rights and (ii) equity-settled share-based payment expenses. MINISO calculates adjusted net margin by dividing adjusted net profit by revenue for the same period. MINISO computes adjusted basic and diluted net earnings per ADS by dividing the adjusted net profit attributable to the equity shareholders of the Company by the number of ADSs represented by the number of ordinary shares used in the basic and diluted earnings per share calculation on an IFRS basis and retrospectively adjusting for the effect of the issuance of Series A preferred shares by the Company that are deemed to have been converted into ordinary shares since July 1, 2019. MINISO computes adjusted basic and diluted net earnings per share in the same way it calculates adjusted basic and diluted net earnings per ADS, except that it uses the number of ordinary shares used in the basic and diluted earnings per share calculation on an IFRS basis as the denominator instead of the number of ADSs represented by these ordinary shares.
MINISO presents these non-IFRS financial measures because they are used by the management to evaluate its operating performance and formulate business plans. These non-IFRS financial measures enable the management to assess its operating results without considering the impacts of the aforementioned non-cash and other adjustment items that MINISO does not consider to be indicative of its operating performance in the future. Accordingly, MINISO believes that the use of these non-IFRS financial measures provides useful information to investors and others in understanding and evaluating its operating results in the same manner as the management and board of directors.
These non-IFRS financial measures are not defined under IFRS and are not presented in accordance with IFRS. These non-IFRS financial measures have limitations as analytical tools. One of the key limitations of using these non-IFRS financial measures is that they do not reflect all items of income and expense that affect MINISO’s operations. Further, these non-IFRS financial measures may differ from the non-IFRS information used by other companies, including peer companies, and therefore their comparability may be limited.
These non-IFRS financial measures should not be considered in isolation or construed as alternatives to profit/(loss), net profit/(loss) margin, basic and diluted earnings/(loss) per share and basic and diluted earnings/(loss) per ADS, as applicable, or any other measures of performance or as indicators of MINISO’s operating performance. Investors are encouraged to review MINISO’s historical non-IFRS financial measures in light of the most directly comparable IFRS measures, as shown below. The non-IFRS financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting the usefulness of such measures when analyzing MINISO’s data comparatively. MINISO encourages you to review its financial information in its entirety and not rely on a single financial measure.
For more information on the non-IFRS financial measures, please see the table captioned "Reconciliation of Non-IFRS Financial Measures" set forth at the end of this press release.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. Among other things, the quotations from management in this announcement, as well as MINISO’s strategic and operational plans, contain forward-looking statements. MINISO may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC") and The Stock Exchange of Hong Kong Limited (the "HKEX"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about MINISO’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: MINISO’s mission, goals and strategies; future business development, financial conditions and results of operations; the expected growth of the retail market and the market of branded variety retail of lifestyle products in China and globally; expectations regarding demand for and market acceptance of MINISO’s products; expectations regarding MINISO’s relationships with consumers, suppliers, MINISO Retail Partners, local distributors, and other business partners; competition in the industry; proposed use of proceeds; and relevant government policies and regulations relating to MINISO’s business and the industry. Further information regarding these and other risks is included in MINISO’s filings with the SEC and the HKEX. All information provided in this press release and in the attachments is as of the date of this press release, and MINISO undertakes no obligation to update any forward-looking statement, except as required under applicable law.
Investor Relations Contact:
Raine Hu
MINISO Group Holding Limited
Email: [email protected]
Phone: +86 (20) 36228788 Ext.8039
MINISO GROUP HOLDING LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Expressed in thousands)
As at
As at
June 30,
2021
June 30, 2022
(Audited)
(Unaudited)
RMB’000
RMB’000
US$’000
ASSETS
Non-current assets
Property, plant and equipment
76,316
419,894
62,689
Right-of-use assets
689,887
2,342,589
349,739
Intangible assets
61,005
43,066
6,430
Goodwill
19,640
19,388
2,895
Deferred tax assets
168,552
154,333
23,041
Other receivables
–
28,274
4,221
Prepayments
138,481
201,682
30,110
Interest in an equity-accounted
investee
352,062
–
–
1,505,943
3,209,226
479,125
Current assets
Other investments
102,968
210,523
31,430
Inventories
1,496,061
1,188,095
177,378
Trade and other receivables
824,725
1,056,198
157,686
Cash and cash equivalents
6,771,653
5,348,492
798,509
Restricted cash
3,680
32,376
4,834
Term deposits with original
maturity over three months
–
236,878
35,365
9,199,087
8,072,562
1,205,202
Total assets
10,705,030
11,281,788
1,684,327
EQUITY
Share capital
92
92
14
Additional paid-in capital
8,289,160
7,982,824
1,191,804
Other reserves
928,005
993,307
148,297
Accumulated losses
(2,558,291)
(1,944,581)
(290,318)
Equity attributable to equity
shareholders of the Company
6,658,966
7,031,642
1,049,797
Non-controlling interests
(6,812)
(4,242)
(633)
Total equity
6,652,154
7,027,400
1,049,164
LIABILITIES
Non-current liabilities
Contract liabilities
59,947
51,658
7,712
Loans and borrowings
6,925
6,503
971
Lease liabilities
483,144
393,068
58,684
Deferred income
20,005
14,488
2,163
570,021
465,717
69,530
Current liabilities
Loans and borrowings
13,669
445
66
Trade and other payables
2,809,182
3,072,991
458,785
Contract liabilities
266,919
361,522
53,974
Lease liabilities
321,268
257,997
38,518
Deferred income
6,060
6,295
940
Current taxation
65,757
89,421
13,350
3,482,855
3,788,671
565,633
Total liabilities
4,052,876
4,254,388
635,163
Total equity and liabilities
10,705,030
11,281,788
1,684,327
MINISO GROUP HOLDING LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS
(Expressed in thousands, except for per share and per ADS data)
Three months ended June 30,
Twelve months ended June 30,
2021
2022
2021
2022
(Unaudited)
(Unaudited)
(Audited)
(Unaudited)
RMB’000
RMB’000
US$ ‘000
RMB’000
RMB’000
US$ ‘000
Revenue
2,472,355
2,317,706
346,024
9,071,659
10,085,649
1,505,748
Cost of sales
(1,833,282)
(1,545,803)
(230,782)
(6,640,973)
(7,015,888)
(1,047,444)
Gross profit
639,073
771,903
115,242
2,430,686
3,069,761
458,304
Other income
4,052
5,049
754
52,140
25,931
3,871
Selling and distribution expenses
(282,824)
(354,717)
(52,958)
(1,206,782)
(1,442,339)
(215,336)
General and administrative expenses
(200,135)
(184,807)
(27,591)
(810,829)
(816,225)
(121,859)
Other net income /(loss)
21,922
40,845
6,098
(40,407)
87,308
13,035
Credit loss on trade and other receivables
8,678
(4,162)
(621)
(20,832)
(28,924)
(4,318)
Impairment loss on non-current assets
(2,941)
(2,018)
(301)
(2,941)
(13,485)
(2,013)
Operating profit
187,825
272,093
40,623
401,035
882,027
131,684
Finance income
8,743
27,163
4,055
40,433
66,344
9,905
Finance costs
(8,095)
(7,989)
(1,193)
(28,362)
(33,396)
(4,986)
Net finance income
648
19,174
2,862
12,071
32,948
4,919
Fair value changes of redeemable shares
with other preferential rights
–
–
–
(1,625,287)
–
–
Share of loss of an equity-accounted
investee, net of tax
(3,186)
–
–
(4,011)
(8,162)
(1,219)
Profit/(loss) before taxation
185,287
291,267
43,485
(1,216,192)
906,813
135,384
Income tax expense
(74,137)
(82,814)
(12,364)
(213,255)
(267,070)
(39,873)
Profit/(loss) for the period
111,150
208,453
31,121
(1,429,447)
639,743
95,511
Attributable to:
Equity shareholders of the Company
114,987
204,837
30,581
(1,415,010)
638,170
95,276
Non-controlling interests
(3,837)
3,616
540
(14,437)
1,573
235
Earnings/(loss) per share for ordinary
shares
-Basic
0.10
0.17
0.03
(1.18)
0.53
0.08
-Diluted
0.09
0.17
0.03
(1.18)
0.52
0.08
Earnings/(loss) per ADS
(Each ADS represents 4 Class A
ordinary shares)
-Basic
0.38
0.68
0.10
(4.72)
2.12
0.32
-Diluted
0.38
0.68
0.10
(4.72)
2.08
0.31
MINISO GROUP HOLDING LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
(Expressed in thousands)
Three months ended June 30,
Twelve months ended June 30,
2021
2022
2021
2022
(Unaudited)
(Unaudited)
(Audited)
(Unaudited)
RMB’000
RMB’000
US$ ‘000
RMB’000
RMB’000
US$ ‘000
Profit/(loss) for the period
111,150
208,453
31,121
(1,429,447)
639,743
95,511
Items that may be
reclassified subsequently to
profit or loss:
Exchange differences on
translation of financial
statements of foreign
operations
23,541
42,456
6,339
(16,548)
40,494
6,046
Other comprehensive
income / (loss) for the
period
23,541
42,456
6,339
(16,548)
40,494
6,046
Total comprehensive
income/(loss) for the
period
134,691
250,909
37,460
(1,445,995)
680,237
101,557
Attributable to:
Equity shareholders of the
Company
138,933
248,159
37,049
(1,429,621)
677,667
101,173
Non-controlling interests
(4,242)
2,750
411
(16,374)
2,570
384
MINISO GROUP HOLDING LIMITED
RECONCILIATION OF NON-IFRS FINANCIAL MEASURES
(Expressed in thousands, except for per share and per ADS data)
Three months ended June 30,
Twelve months ended June 30,
2021
2022
2021
2022
(Unaudited)
(Unaudited)
(Audited)
(Unaudited)
RMB’000
RMB’000
US$’000
RMB’000
RMB’000
US$’000
Reconciliation of profit/(loss)
for the period to adjusted net
profit:
Profit/(loss) for the period
111,150
208,453
31,121
(1,429,447)
639,743
95,511
Add back:
Fair value changes of
redeemable shares with other
preferential rights
–
–
–
1,625,287
–
–
Equity-settled share-based
payment expenses
30,959
14,409
2,151
281,319
82,835
12,367
Adjusted net profit
142,109
222,862
33,272
477,159
722,578
107,878
Attributable to:
Equity shareholders of the
Company
145,946
219,246
32,732
491,596
721,005
107,643
Non-controlling interests
(3,837)
3,616
540
(14,437)
1,573
235
Adjusted net earnings per
share for ordinary shares(4)
-Basic
0.12
0.18
0.03
0.42
0.60
0.09
-Diluted
0.12
0.18
0.03
0.42
0.59
0.09
Adjusted net earnings per
ADS
(Each ADS represents 4 Class
A ordinary shares)
-Basic
0.48
0.72
0.11
1.68
2.40
0.36
-Diluted
0.48
0.72
0.11
1.68
2.36
0.35
(4) The adjusted basic and diluted net earnings per share are computed using adjusted net profit attributable to the equity
shareholders of the Company, and the number of ordinary shares used in GAAP basic and diluted earnings per share
calculation after retrospectively adjusting for the effect of Series A preferred shares issued by the Company that are
deemed to have been converted into ordinary shares since July 1, 2020.
MINISO GROUP HOLDING LIMITED
UNAUDITED ADDITIONAL INFORMATION
(Expressed in millions, except percentages)
Three months ended June 30,
Twelve months ended June 30,
2021
2022
YOY
2021
2022
YOY
(Unaudited)
(Unaudited)
(Audited)
(Unaudited)
RMB
RMB
US$
RMB
RMB
US$
Revenue
Domestic Operations
1,946
1,533
229
(21 %)
7,291
7,442
1,111
2 %
-MINISO Brand
1,823
1,410
211
(23 %)
6,956
6,825
1,019
(2 %)
-TOP TOY Brand
72
95
14
33 %
98
447
67
355 %
-Others
51
28
4
(47 %)
237
170
25
(28 %)
International
Operations
526
785
117
49 %
1,781
2,644
395
49 %
2,472
2,318
346
(6 %)
9,072
10,086
1,506
11 %
SOURCE MINISO Group Holding Limited
Cision Distribution 888-776-0942
from 8 AM – 9 PM ET
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