Wednesday, January 20, 2021
Financial Results News

MINISO Announces 2021 First Fiscal Quarter Results, Revenue was US$305.2 million

Customers shopping with masks at the inaugural MINISO store in the Canary Islands, Spain

MINISO Group Holding Limited (NYSE: MNSO) (“MINISO” or the “Company”), a fast-growing global value retailer offering a variety of design-led lifestyle products, today announced its unaudited financial results for the first fiscal quarter ended September 30, 2020.

Financial Highlights for the 2021 First Fiscal Quarter Ended September 30, 2020

  • Revenue for the fiscal quarter ended September 30, 2020, was RMB2,072.1 million (US$305.2 million), representing a decrease of 30.7% from the fiscal quarter ended September 30, 2019, and an increase of 33.4% from the previous fiscal quarter ended June 30, 2020.
  • Gross profit for the fiscal quarter ended September 30, 2020, was RMB522.4 million (US$76.9 million), representing a decrease of 44.3% from the fiscal quarter ended September 30, 2019, and an increase of 37.7% from the previous fiscal quarter ended June 30, 2020.
  • Loss from continuing operations for the fiscal quarter ended September 30, 2020, was RMB1,676.3 million (US$246.9 million) as compared to RMB20.3 million for the fiscal quarter ended September 30, 2019, and RMB74.8 million for the previous fiscal quarter ended June 30, 2020.
  • Adjusted net profit[1] for the fiscal quarter ended September 30, 2020, was RMB102.1 million (US$15.0 million), representing a decrease of 74.6% from the fiscal quarter ended September 30, 2019, and an increase of 140.8% from the previous fiscal quarter ended June 30, 2020.

Operational Highlights for the 2021 First Fiscal Quarter Ended September 30, 2020

  • Number of MINISO stores increased from 3,913 as of September 30, 2019, and 4,222 as of June 30, 2020 to 4,330 as of September 30, 2020. The following table provides a breakdown of the number of MINISO stores as of the relevant dates:

Mr. Guofu Ye, Founder, Chairman, and Chief Executive Officer of MINISO, commented, “Despite facing macroeconomic headwinds across the globe, we have successfully completed our listing on the New York Stock Exchange. Going forward, we will utilize our access to the capital markets to enter the next stage of development, fuel our growth momentum, and enhance our shareholder base. In the fiscal quarter ended September 30, 2020, we continued to expand our domestic store network coverage across higher- and lower-tier city markets. In third-tier cities and below, for example, we adroitly responded to the exponential growth in demand for high-quality, aesthetically pleasing lifestyle products, prudently expanding our operations in these markets to better satisfy local shoppers. At the same time, we also continued to fortify our market share leadership in first- and second-tier cities. As a result, the number of MINISO stores in our domestic network reached 2,633 by the end of the quarter as compared to 2,533 at the end of the previous quarter. On the international front, the pandemic significantly impacted our operations, especially in North America and Europe. Nevertheless, we remained flexible, restraining our expansion efforts to set the stage for our future growth as the pandemic gradually abates. Meanwhile, we remained active in our initiative development as we leveraged strategic partnerships to advance our e-commerce capabilities and launched our new TopToy retail store brand. Looking ahead, we remain confident in the enduring strengths of our brand equity, retail partner model, and customer value proposition, all of which will support us as we continue to grow our business in a sustainable manner and deliver lasting shareholder value.”

4 thoughts on “MINISO Announces 2021 First Fiscal Quarter Results, Revenue was US$305.2 million
  1. I’m very happy to discover this page. I need to to thank you for ones
    time just for this fantaastic read! I definitely really liked every little bit of
    itt aand I have you bookmarked to check out new things in your blog.

  2. Howdy! I could have sworn I’ve been to this blog berfore but after browsing
    through somne of the post I realized it’s
    new to me. Nonetheless, I’m definitely delighted I founnd it and I’ll be bookmarking aand checking back frequently!

Leave a Reply

Your email address will not be published.