名创优品-2021财年第三季度名创优品财务报告（英文）-2021.5-9页_86kb

报告摘要

MINISO Group Holding Limited Q3 FY2021 Financial Summary

Core Content

MINISO Group Holding Limited (NYSE: MNSO) reported its unaudited financial results for the third quarter of fiscal year 2021, ending March 31, 2021. The company, a global value retailer offering design-led lifestyle products, demonstrated strong financial performance, driven by the recovery of its domestic operations and continued focus on product innovation and market expansion.

Key Financial Highlights

Revenue: RMB2,229.4 million (US$340.3 million), within the guidance range, up 36.5% year-over-year and down 3.0% quarter-over-quarter.
Gross Profit: RMB626.5 million (US$95.6 million), up 18.5% year-over-year and down 2.5% quarter-over-quarter.
Gross Margin: 28.1%, down from 32.4% year-over-year but up from 28.0% quarter-over-quarter.
Operating Profit: RMB161.1 million (US$24.6 million), up 304.4% year-over-year and 196.6% quarter-over-quarter.
Profit from Continuing Operations: RMB115.0 million (US$17.5 million), down from RMB170.2 million year-over-year but up from RMB20.8 million quarter-over-quarter.
Adjusted Net Profit: RMB149.0 million (US$22.7 million), up 9.5% year-over-year and 77.4% quarter-over-quarter.

Operational Highlights

Store Growth: MINISO expanded its store network to 4,587 as of March 31, 2021, from 4,223 as of March 31, 2020, and 4,514 as of December 31, 2020.
International Expansion: The company opened its first store in Portugal in January 2021, marking entry into its 94th overseas market.
Store Distribution:
- China: 2,812 stores, all operational.
- Overseas: 1,775 stores, with 228 not yet resumed operations due to the impact of the pandemic.

Revenue Breakdown

Domestic Revenue: RMB1,788.3 million (US$272.9 million), up 74.8% year-over-year.
International Revenue: RMB441.2 million (US$67.3 million), down 27.7% year-over-year due to store closures and reduced customer traffic.

Expense Overview

Selling and Distribution Expenses: RMB296.5 million (US$45.3 million), up 9.0% year-over-year but down 13.0% quarter-over-quarter, mainly due to seasonality and cost controls.
General and Administrative Expenses: RMB169.5 million (US$25.9 million), down 5.5% year-over-year and 10.3% quarter-over-quarter, reflecting cost management efforts during the pandemic.

Profitability Metrics

Earnings per ADS (Basic and Diluted): RMB0.40 (US$0.06) for the third quarter, down from RMB0.76 in the same period of the prior fiscal year and up from RMB0.08 in the previous quarter.
Adjusted Earnings per ADS (Basic and Diluted): RMB0.52 (US$0.08), up from RMB0.44 and RMB0.28 in previous periods.

Cash and Financial Position

Cash and Cash Equivalents: Increased to RMB6,924,417 thousand (US$1,056,872 thousand) as of March 31, 2021, compared to RMB2,853,980 thousand as of June 30, 2020.
Total Assets: RMB10,324,991 thousand (US$1,575,900 thousand), up from RMB5,836,251 thousand as of June 30, 2020.
Total Liabilities: RMB3,838,487 thousand (US$585,867 thousand), down from RMB6,159,297 thousand as of June 30, 2020.

Business Outlook

For the fourth quarter of fiscal year 2021, the company expects revenue between RMB2,300 million and RMB2,500 million, representing a year-over-year increase of 48.1% to 61.0%.

Recent Developments

The company continues to focus on penetrating lower-tier cities in China and adapting its expansion strategy to the recovery of overseas markets.
MINISO's online channels, including eCommerce and O2O, saw strong year-over-year revenue increases of 69.4% and 86.4%, respectively.

Non-IFRS Financial Measure

Adjusted Net Profit excludes non-cash and non-operational items such as fair value changes of redeemable shares, impairment losses, and share-based compensation expenses.
This measure is used by management to evaluate operating performance and is not intended as a substitute for IFRS financial measures.

Summary of Key Points

Domestic Recovery: Strong performance in China, with all stores operational and significant revenue growth.
International Challenges: Continued impact from the pandemic on international operations, leading to a decline in revenue.
Operational Efficiency: Effective cost management and focus on product innovation have contributed to improved profitability.
Future Strategy: MINISO aims to expand in China's lower-tier cities and monitor the recovery of overseas markets closely.

Conference Call Details

Date: May 19, 2021, at 8:00 A.M. Eastern Time (8:00 P.M. Beijing Time).
Phone Lines:
- International: 1-412-317-6061
- United States Toll Free: 1-888-317-6003
- Mainland China Toll Free: 4001-206-115
- Hong Kong, China Toll Free: 800-963-976
Access Code: 9902383
Replay Available Until: May 26, 2021
Webcast: Available at https://ir.miniso.com/