Hong Kong Stocks Movement | MINISO (09896) Drops Over 6% Again; Q3 Revenue Growth Exceeds Guidance but Net Profit Falls Over 30% YoY

Stock News11-24

MINISO (09896) fell more than 6% again, dropping 6.48% to HK$36.68 by the time of writing, with a turnover of HK$188 million. The company recently reported its third-quarter results, posting revenue of RMB5.797 billion, up 28.2% year-on-year, exceeding the upper end of its 25%–28% guidance range. However, net profit attributable to shareholders declined over 30% YoY to RMB441 million from RMB642 million in the same period last year.

CICC noted that MINISO's gross margin dipped slightly by 0.2 percentage points YoY in Q3, mainly due to product mix adjustments. Share-based compensation expenses amounted to RMB180 million, primarily related to TOPTOY equity incentives. Excluding this item, the sales and administrative expense ratios increased by 1.4 percentage points and decreased by 0.3 percentage points YoY, respectively, with the growth narrowing as expected. The operating profit margin for overseas direct sales rose by a low single-digit percentage.

Due to the Yonghui acquisition and issuance of equity-linked securities, net financial expenses reached RMB100 million during the period, with a share of Yonghui’s losses at RMB150 million and other income at RMB70 million. Excluding these impacts, adjusted net profit grew 12% YoY to RMB770 million.

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