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Dec 31, 2024
MINISO Q2 2025 Earnings Report
MINISO reported strong revenue growth and record-high gross margins in Q2 2025.
Key Takeaways
MINISO achieved record-high gross margins and revenue growth in Q4 2024. Overseas markets significantly contributed to the company's performance, with strong sales momentum. Profitability improved, but operating expenses increased due to expansion and marketing costs.
Total revenue reached $645,638,000, a 22.7% increase year-over-year.
Gross profit rose to $303,769,000, up 33.8% year-over-year.
Net income increased to $110,933,000, a 27.0% rise year-over-year.
Cash position stood at $917,600,000 as of December 31, 2024.
MINISO
MINISO
MINISO Revenue by Segment
MINISO Revenue by Geographic Location
Forward Guidance
MINISO anticipates continued growth in 2025, driven by same-store sales growth, international expansion, and improving store economics.
Positive Outlook
- Revenue expected to accelerate due to strong international sales.
- Store expansion strategy remains on track, especially overseas.
- Continued focus on IP-driven product innovation.
- Gross margin expected to remain high due to pricing strategy.
- Improved store layouts and assortments to enhance customer experience.
Challenges Ahead
- Operating expenses remain elevated due to expansion and marketing costs.
- Increased logistics expenses due to rising international freight costs.
- Macroeconomic uncertainties may impact consumer spending.
- Increased competition in overseas markets.
- Exchange rate fluctuations could impact earnings.
Revenue & Expenses
Visualization of income flow from segment revenue to net income