Consumer Staples Author: 石伟 Feb 26, 2021 03:18 PM (GMT+8)

The epidemic catalyzed Miniso's growth acceleration.

MINISO

On February 25, Miniso released its unaudited financial report for the second quarter of the fiscal year 2021. The total revenue reached CNY 2.3 billion (about USD 352.1 million), up 11% QoQ. The adjusted net profit was CNY 150 million, an increase of 70% from the CNY 85 million recorded for the first fiscal quarter.

The epidemic did not slow down the pace of MINISO's expansion. From a global perspective, the number of stores increased by 4%, and single-store revenue increased by 7% month-on-month. Among them, overseas revenue increased by 32% MoM. As of December 31, 2020, MINISO had established 4,514 stores in nearly 90 countries and regions worldwide, including 2,768 in China and 1,746 in the overseas market.

During the epidemic, MINISO strengthened its sales through online channels. Online channels accounted for 7% of revenue, an increase of 123% year-on-year and 46% month-on-month. Simultaneously, the company expanded its trendy, independent new brand for play products, TOPTOY, as part of the second growth curve.

The financial report predicts that MINISO will increase its revenue by more than 40% year-on-year in the third fiscal quarter and realize a gross profit of CNY 643 million (approximately USD 98.5 million), an increase of 23% from the previous quarter.

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