MINISO Group Q2 Results Climb, Approves Special Dividend; Stock Up

(RTTNews) - Shares of MINISO Group Holding Ltd. (MNSO) were gaining more than 5 percent in Hong Kong trading after the Chinese value retailer of design-led lifestyle products reported Tuesday higher profit and revenues in its second quarter. The company also announced dividend.

Profit attributable to equity shareholders for the period was RMB635.81 million or $89.8 million, an increase of 77.3 percent from last year's RMB352.46 million.

Earnings per ADS were RMB2.04 or $0.29 in this quarter, an increase of 82.1 percent year over year from RMB1.12 in the same period of 2022.

Adjusted net profit was RMB660.5 million or $93.0 million, representing an increase of 77.0 percent year over year. Adjusted earnings per ADS were RMB2.12 or $0.30, compared to RMB1.16 last year.

Revenue climbed 54 percent to RMB3.84 billion or $541.0 million from last year's RMB2.49 billion, primarily driven by a 55.7 percent increase in revenue from China, and a 51.4 percent increase in revenue from overseas markets.

Further, the Board approved the distribution of a special cash dividend in the amount of $0.2900 per ADS or $0.0725 per ordinary share, to holders of ADSs and ordinary shares of record as of the close of business on March 28.

The payment date is expected to be on April 9 for holders of ordinary shares and around April 12 for holders of ADSs.

Regarding the current trading, the company noted that for the two months ended February 29, GMV of MINISO's offline stores in China increased by around 13 percent year over year. GMV of MINISO's overseas business increased by around 40 percent year over year.

In Hong Kong, MINISO Group shares were trading at HK$36.50, up 5.34 percent.

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