$MINISO (MNSO.US)$Listed in 2020, revenue in the year of lis...
$MINISO(MNSO.US$Listed in 2020, revenue in the year of listing shrank by 4.4%, then continued to grow for two years, and operating profit declined continuously for two years after listing. It was only in 2022 that gross margin increased by a sharp increase of 80% to 820 million dollars. Net profit was affected by other expenses, with a sharp loss of 1.43 billion dollars in 2021 and 640 million dollars in 2022.
Revenue increased 5.8% in the first three quarters of 2023, operating profit increased 1.5 times to 1.46 billion dollars due to a sharp increase in gross margin, net profit increased 1.86 times to 1.23 billion, and interest income reached 73 million yuan, with no interest burden.
The balance ratio in 2021 fell sharply from 105% to 37.9%, and fell further to 34% in 2023Q3.
The ratio and growth rate of accounts receivable and inventory are normal, and there are very few loans.
Net operating volume has been lower than net investment in the past two years, and shareholders' surpluses have been lost.
Currently, the price-earnings ratio is 69.5, and the price-earnings ratio TTM has dropped to 32.2. Since there is a strong correlation between recent performance and changes in epidemic measures, it is possible to observe a few more quarters before making a judgment.
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