The following is a summary of the MINISO Group Holding Limited (MNSO) Q1 2024 Earnings Call Transcript:

Financial Performance:

• MINISO Group's Q1 2024 revenue increased by 26%, reaching RMB 3.72 billion due to increased store count and same-store sales.

• Gross margin was at 43.4% and adjusted net profit at RMB 620 million, marking a YoY increase of 28%.

• The firm's Q1 operating profit was at RMB 743 million, a 29% YoY increase, and adjusted EBITDA reported at RMB 965 million, up by 37% YoY.

• Cash position remained healthy at RMB 7.3 billion and RMB 3.5 billion was returned to shareholders since the US IPO.

Business Progress:

• MINISO aims to globalize its brand more in over 100 markets and is increasing investment in Europe and North America.

• Company plans include opening 900-1100 stores in 2024, and raising the store opening targets for their TOP TOY business.

• IP products made up 26% of total sales in Q1.

• The company expects profits to lean more towards the second half of FY2024, continuing from FY2023 trends.

• MINISO aims to improve its market presence in the US with an annual target of 80-100 store openings.

More details: MINISO IR

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