Beijing time on March 3,MINISO(NYSE:MNSO) announced its unaudited financial results for the second quarter of fiscal 2022 ended December 31, 2021. The financial report shows,MINISOThe Group’s revenue and net profit both increased steadily in the quarter, the second growth curve, the new business TOP TOY of Chaowan, continued to make efforts, and the overseas business recovered significantly.performanceExceeded expectations.
According to the financial report data, the company’s total revenue in this fiscal quarter reached 2.77 billion yuan, a year-on-year increase of 21%. Among them, domestic revenue was 2.05 billion yuan, a year-on-year increase of 12%; overseas revenue was 720 million yuan, a year-on-year increase of 55%. Non-IFRS for the quarternet profit210 million yuan, a year-on-year increase of 155%.MINISOThe net profit margin for the fiscal quarter was 7.7%, a new high in the past seven quarters since the outbreak of the epidemic, and profitability continued to recover.
Overseas business recovery exceeds expectations
According to the financial report, MINISO had 5,045 stores worldwide at the end of the quarter. Among them, the number of domestic stores was 3,168, with a net increase of 133 domestic stores; the number of overseas stores was 1,877, a net increase of 41 in the quarter, and the overseas store opening plan was over-completed; the pace of global store expansion was steady, and the number of global stores exceeded 5,000, indicating a famous Chuangyoupin’s global retail layout has entered a new stage.
Benefiting from the recovery of global epidemic prevention and control and the trend of holiday consumption, MINISO’s overseas revenue reached 720 million yuan in the quarter, a year-on-year increase of 55% and a month-on-month increase of 15%. At the same time, the company opened its 5,000th store in the world and entered the 100th country and region in the world.
Compared with overseas markets, MINISO continues to steadily implement the development strategy of sinking the market in China, and fully taps the consumption potential of young user groups. During the quarter, the number of domestic stores increased by 133, bringing the total number of stores nationwide to 3,168. About 63% of the new domestic stores in the quarter came from third-tier cities and below, and the number of stores in third-tier and below cities exceeded 1,300.
Zhang Saiyin, Executive Vice President and Chief Financial Officer of MINISO Group, said, “MINISO will continue to expand steadily. Based on its insights into the global market, it will adopt a localized operation strategy to tap consumer demand in different markets and continue to deepen market innovation. Continue to launch ‘good-looking, easy-to-use, and fun’ life-goods to serve the better life of consumers around the world.”
Continue to deploy interest consumption
In the quarter, MINISO e-commerce + O2O business revenue accounted for nearly 11%, of which, e-commerce business revenue was 170 million yuan, O2O revenue was 130 million yuan, and O2O revenue increased by 130% year-on-year. Through insights into user interests and preferences, precise access, and refined operations, MINISO continues to deepen user value. As of December 31, the number of retained users of MINISO’s private domain exceeded 14 million, and the number of monthly active users of the official mini program exceeded 7.8 million.
Ye Guofu, Chairman and CEO of MINISO Group, proposed the concept of interest consumption for the first time in the industry. He believes that being dominated by interest is the biggest consumption characteristic of this young generation. The use value and emotional value of commodities are gradually separated. They pay attention to cultural attributes and emotional value, and pursue products that are good-looking, easy to use, and fun.
Based on the insight into young people’s interest trends, MINISO launched the “creation of interest” model. Relying on product development driven by interest consumption, MINISO has achieved precise capture of young people’s consumption needs.
Ye Guofu pointed out that 2022 will be the first year for the upgrade of MINISO’s brand strategy. With the rise of the wave of interest consumption, MINISO will focus on the core strategy of “beginning with products and finally cognition”, and closely follow the “interest consumption”. ” theme, on the basis of continuing to maintain high cost performance, continue to export good-looking, easy-to-use and fun products to the global consumer market, light up the good life of 99 countries around the world, and become a global consumer interest enterprise with Internet genes.
(Article source: ChinasecuritiesReport · China Securities Network)