MINISO Group Announces September Quarter 2021 Results

MINISO Group Holding Limited (NYSE: MNSO) ("MINISO", "MINISO Group" 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 quarter of fiscal year 2022 ended September 30, 2021.

Revenue was RMB2,654.1 million (US$411.9 million), exceeding the high end of the Company's guidance range of RMB2,450 million to RMB2,650 million, representing an increase of 28.1% year over year and 7.4% quarter over quarter.

Gross profit was RMB728.4 million (US$113.1 million), representing an increase of 39.4% year over year and 14.0% quarter over quarter. Gross margin was 27.4%, compared to 25.2% in the same period of 2020 and 25.8% in the previous quarter.

Operating profit was RMB213.5 million (US$33.1 million), compared to a loss of RMB2.1 million in the same period of 2020 and a profit of RMB187.8 million in the previous quarter.

Profit for the period was RMB154.5 million (US$24.0 million), compared to a loss of RMB1,676.3 million in the same period of 2020 and a profit of RMB111.2 million in the previous quarter.

Adjusted net profit[1] was RMB184.2 million (US$28.6 million), representing an increase of 80.3% year over year and 27.0% quarter over quarter. Adjusted net margin[1] was 6.9%, compared to 4.9% in the same period of 2020 and 5.9% in the previous quarter.