On May 19, 2021, MINISO, a comprehensive retailer that covers a variety of affordable, creative lifestyle products, released its latest unaudited financial results, showing swelling revenue, solid profit growth and steady store expansion.
Revenue considerably increased by 36.5% from Q3 2019 to CNY 2.23 billion.
Gross profit reaches 626.5 million, denoting a growth of 18.5% from the same period last fiscal year, while the gross margin decreased from 32.4% as of Q3 2019 to 28.1% in the current term.
Operating profit surges 304.4% from Q3 2019 to CNY 161.1 million, along with a notable growth of 196.6% from the previous quarter.
Adjusted net profit boosted 9.5% to CNY 149.0 million over the same period last fiscal year.
Store numbers increased from 4514 as of Q3 2019 to 4,587 as of Q3 2020, spanning over 94 countries by the end of the current fiscal term.
Cost of sales escalated by 45.1% from CNY 1,104.7 million to CNY 1,602.9 million.
Selling and distribution expenses were CNY 296.5 million, a slight growth of 9.0% year-over-year and 13.0% quarter-over-quarter.
"Meanwhile, we will continue monitoring the pandemic recovery in overseas markets carefully and rapidly adapt our expansion plan as necessary to embrace its recovery," says Mr. Guofu Ye, the founder, chairman, and CEO of MINISO.