MNSO 0001104659-24-095717 6-K Filing: Aug 30, 2024

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2024

Commission File Number: 001-39601

MINISO Group Holding Limited

8F, M Plaza, No. 109, Pazhou Avenue

Haizhu District, Guangzhou 510000, Guangdong Province

The People’s Republic of China

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F    x            Form 40-F    ¨

Exhibit Index

Exhibit 99.1 —      Press Release — MINISO Group Announces 2024 June Quarter and Interim Unaudited Financial Results

Exhibit 99.2 —      Announcement with the Stock Exchange of Hong Kong Limited — Inside Information — Unaudited Quarter and Interim Financial Results for the Three Months and the Six Months Ended June 30, 2024

Exhibit 99.3 —      Announcement with the Stock Exchange of Hong Kong Limited — Interim Results Announcement for the Six Months Ended June 30, 2024 and Connected Transaction

Exhibit 99.4 —      Press Release — MINISO Announces HKD2 Billion Share Repurchase Program

Exhibit 99.5 —      Announcement with the Stock Exchange of Hong Kong Limited — Voluntary Announcement — Intention to Conduct On-Market Share Repurchase

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

MINISO Group Holding Limited
By	:	/s/<br> Jingjing Zhang
Name	:	Jingjing<br> Zhang
Title	:	Chief<br> Financial Officer

Date: August 30, 2024

Exhibit 99.1

MINISO Group Announces 2024 June Quarterand Interim Unaudited Financial Results

GUANGZHOU, China, August 30, 2024 /PRNewswire/ -- MINISO Group Holding Limited (NYSE: MNSO; HKEX: 9896) (“MINISO”, “MINISO Group” or the “Company”), a global value retailer offering a variety of trendy lifestyle products featuring IP design, today announced its unaudited financial results for the quarter ended June 30, 2024 (the “June Quarter”) and the six months ended June 30, 2024 (the “First Half of 2024”).

Financial Highlights for the June Quarter

·	Revenue increased 24.1% year over year to RMB4,035.2 million (US$555.3 million), surpassing RMB4<br> billion for the first time.
·	Gross profit increased 36.9% year over year to RMB1,773.3 million (US$244.0 million).
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·	Gross margin was 43.9%, a record high for the Company, compared to 39.8% in the same period<br> of 2023.
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·	Operating profit increased 8.9% year over year to RMB751.5 million (US$103.4 million).
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·	Profit for the period increased 8.1% year over year to RMB591.4 million (US$81.4 million).
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·	Adjusted net profit^(1)^ **** increased 9.4% year over year to RMB625.0 million<br> (US$86.0 million). Adjusted net profit included a net foreign exchange loss of RMB4.2 million<br> (US$0.6 million) in the June Quarter, compared to a net foreign exchange gain of RMB66.1<br> million in the same period of last year. Excluding net foreign exchange loss and gain, adjusted<br> net profit would have increased 24.6% year over year.
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·	Adjusted net margin^(1)^was 15.5%, compared to 17.6% in the same period of 2023.<br> Excluding net foreign exchange loss and gain, adjusted net profit margin for the June Quarter<br> would have been 15.6%, compared to 15.5% in the same period of 2023.
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·	Adjusted EBITDA^(1)^ increased 17.1% year over year to RMB1,002.0 million (US$137.9<br> million).
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·	Adjusted EBITDA margin^(1)^was 24.8%, compared to 26.3% in the same period of<br> 2023.
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·	Adjusted basic and diluted earnings per ADS^(1)^ both increased 11.1% year over<br> year to RMB2.00 (US$0.28).
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Financial Highlights for the First Half of2024

·	Revenue increased 25.0% year over year to RMB7,758.7 million (US$1,067.6 million).
·	Gross profit increased 37.9% year over year to RMB3,389.8 million (US$466.5 million).
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·	Gross margin was 43.7%, compared to 39.6% in the same period last year.
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·	Operating profit increased 18.1% year over year to RMB1,494.8 million (US$205.7 million).
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·	Profit for the period increased 15.7% year over year to RMB1,177.4 million (US$162.0 million).
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·	Adjusted net profit^(1)^ **** increased 17.8% year over year to RMB1,241.9 million<br> (US$170.9 million). Adjusted net profit included a net foreign exchange loss of RMB12.4 million<br> (US$1.7 million) in the First Half of 2024, compared to a net foreign exchange gain of RMB54.9<br> million in the same period of last year. Excluding net foreign exchange loss and gain, adjusted<br> net profit would have increased 25.5% year over year.
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·	Adjusted net margin^(1)^was 16.0%, compared to 17.0% in the same period of 2023.<br> Excluding net foreign exchange loss and gain, adjusted net profit margin for the First Half<br> of 2024 would have been 16.2%, compared to 16.1% in the same period of 2023.
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·	Adjusted EBITDA^(1)^ increased 26.0% year over year to RMB1,967.4 million (US$270.7<br> million).
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·	Adjusted EBITDA margin^(1)^was 25.4%, compared to 25.2% in the same period of<br> 2023.
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·	Adjusted basic and diluted earnings per ADS^(1)^ were both RMB3.96 (US$0.54), representing<br> increases of 17.9% and 19.3% year over year, respectively.
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·	Net cash from operating activities increased 4.9% year over year to RMB1,293.8 million (US$178.0<br> million). Capital expenditure was RMB302.8 million (US$41.7 million) and free cash flow was<br> RMB991.0 million (US$136.4 million) for the First Half of 2024.

Operational Highlights

·	Number of MINISO stores was 6,868 as of June 30, 2024, with an opening of 455 net new stores<br> in the First Half of 2024.
·	Number of MINISO stores in mainland China was 4,115 as of June 30, 2024, with an opening<br> of 189 net new stores in the First Half of 2024.
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·	Number of MINISO stores in overseas markets was 2,753 as of June 30, 2024, with a record<br> opening of 266 net new stores in the First Half of 2024, compared to 72 in the same period<br> of 2023.
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·	Number of TOP TOY stores was 195 as of June 30, 2024, with a record opening of 47 net new<br> stores in the First Half of 2024.
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Note:

(1) See the sections titled “Non-IFRS Financial Measures” and “Reconciliation of Non-IFRS Financial Measures” in this press release for more information.

The following table provides a breakdown of the Company’s store network and its growth. The Company nearly doubled its directly operated stores compared to a year ago. In the First Half of 2024, the Company had a net increase of 115 directly operated stores, 105 of which located in overseas markets, demonstrating the Company’s development strategy.

	As of
	June 30,<br> <br>2023		December31,<br> <br>2023		June 30,<br> <br>2024		YoY		YTD^(3)^
Number of MINISO stores^(1)^		5,791		6,413		6,868		1,077		455
Mainland China		3,604		3,926		4,115		511		189
—Directly operated stores		15		26		29		14		3
—Third-party stores		3,589		3,900		4,086		497		186
Overseas		2,187		2,487		2,753		566		266
—Directly operated stores		176		238		343		167		105
—Third-party stores		2,011		2,249		2,410		399		161
Number of TOP TOY stores^(2)^		118		148		195		77		47
—Directly operated stores		9		14		21		12		7
—Third-party stores		109		134		174		65		40

Notes:

(1) “MINISO stores” refers to the offline stores operated under the “MINISO” brand, including those directly operated by the Company, and those operated by third parties under the MINISO Retail Partner model and the distributor model.

(2) “TOP TOY stores” refers to the offline stores operated under the “TOP TOY” brand, including those directly operated by the Company, and those operated by third parties under the MINISO Retail Partner model.

(3) “Year-to-date” or “YTD” refers to the period starting from January 1, 2024 to June 30, 2024.

Mr. Guofu Ye, Founder, Chairman, and CEO of MINISO, commented, “The year of 2024 marks the first year of our five-year strategic plan. I am pleased to see that in the past six months, all of our businesses have made firm progress in accordance with the five-year strategic plan and our performance has met the expectations at the beginning of the year. During the reporting period, our footprints in overseas markets continued to expand. Meanwhile, we achieved the milestone of 7,000 stores globally, and it has been less than one year since we achieved the milestone of 6,000 stores. In the First Half of 2024, we had 502 net new stores at the group level, including 266 net new MINISO stores in overseas markets and 47 net new TOP TOY stores, both marking the fastest store opening paces during the first half of a year. MINISO in overseas markets and TOP TOY also maintained a double-digit same-store sales growth, acting as growth engines of the Company. We had 189 net new MINISO stores in mainland China in the First Half of 2024, and same-store sales of MINISO in mainland China recovered to 98.3% of the prior year’s level, representing MINISO’s industrial leading position and robust growth. As a result, revenue increased by 25% to RMB7.76 billion for the First Half of 2024, including a 7% same-store sales growth and a 19% average store count expansion.”

“Despite short-term headwind and uncertainties brought by the macro environment, MINISO Group will still steadfastly focus on our long-term strategy, adhering to “Affordability”, “Globalization” and “Product Innovation (IP design)”. We will always uphold our “Happy Philosophy” and target to become the world’s No.1 IP design retail group, maintaining strategic focus and moving toward our five-year strategic goals. Meanwhile, we are committed to providing competitive career development opportunities for employees and bringing long-term and sustainable return to shareholders.” Mr. Ye continued.

Mr. Eason Zhang, CFO of MINISO, commented, “Thanks to our ongoing brand upgrade and increasing overseas revenue contribution, gross margin for the First Half of 2024 reached 43.7%, with a 4.1 percentage point increase year over year. Even though we are still at an investment stage in overseas markets, we have managed to maintain profitability at a healthy level under our effective cost control measures. This is evidenced by an 18% year-over-year increase in adjusted net profit and a 26% year-over-year increase in adjusted EBITDA. Excluding foreign exchange impacts, adjusted net margin would have been 16.2% for the First Half of 2024, compared with 16.1% for the same period of last year, implying our good profitability under scalable growth.

Our financial strategy will continue to remain disciplined in terms of budgeting, cost controls and allocation of capital as we commit to delivering stable profit and healthy cash flows. Our targets for the year of 2024 remain unchanged from our expectations at the beginning of the year, revenue is expected to increase 20% to 30% on year-over-year basis, and adjusted net profit target is RMB2.8 billion or higher.”

“Our capital allocation strategy will also continue to balance fast growth and our commitment to bring stable and foreseeable returns to shareholders. The Board of the Company has approved an interim cash dividend for the First Half of 2024, with a total amount of approximately RMB621 million. Upon the payment of the interim dividend, the Company will have returned RMB1.4 billion in cash to shareholders through dividends and share repurchases from year to date. Since 2020, we will have returned RMB3.6 billion to shareholders upon the payment of the interim dividend, accounting for 62% of adjusted net profit accumulated from 2020 until the First half of 2024. We are confident in accomplishing our full-year business plan and five-year strategy and believe that our share price has been trading below its intrinsic value. Accordingly, the Board of the Company has approved a share repurchase program to make the best of the general mandate granted at its annual general meeting held in June 2024, under which the Company may repurchase its shares and/or ADSs in the next 12 months not exceeding 10% of the total outstanding shares and execute share repurchases in the open market subject to market conditions. We believe that the share repurchase program is in the best interests of the Company and its shareholders as a whole and creates value for shareholders.” Mr. Zhang concluded.

Interim Dividend Declaration

On August 30, 2024, the Company’s board of directors approved the distribution of an interim cash dividend in the amount of US$0.2744 per American Depositary Share (“ADS”) or US$0.0686 per ordinary share, to holders of ADSs and ordinary shares of record as of the close of business on September 13, 2024, New York Time and Beijing/Hong Kong Time, respectively. The ex-dividend date will be September 12, 2024. The payment date is expected to be September 23, 2024 for holders of ordinary shares and September 27, 2024 for holders of ADSs. The aggregate amount of cash dividend to be paid is approximately US$85.5 million (RMB621.3 million at an exchange rate of RMB7.2672 to US$1.0000), which is approximately 50% of the Company’s adjusted net profit for the First Half of 2024 and will be distributed from additional paid-in capital and settled by a cash distribution.

For holders of ordinary shares, in order to qualify for the interim cash dividend, all valid documents for the transfer of ordinary shares accompanied by the relevant share certificates must be lodged for registration with the Company’s Hong Kong share registrar, Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen’s Road East, Wanchai, Hong Kong no later than 4:30 P.M. on September 13, 2024 (Beijing/Hong Kong Time).

Unaudited Financial Results for the June Quarter2024

Revenue was RMB4,035.2 million (US$555.3 million), representing an increase of 24.1% year over year. Revenue from mainland China increased by 18.1% year over year, accelerated from the March quarter, including (i) an increase of 17.4% in revenue from MINISO’s offline stores in mainland China, and (ii) an increase of 24.3% in revenue from TOP TOY. Revenue from overseas markets increased 35.5% to RMB1,510.1 million (US$207.8 million), breaking its previous record set in December quarter of 2023, which was usually a peak season in overseas markets.

For more information on the composition and year-over-year change of revenue, please refer to the “Unaudited Additional Information” in this press release.

Cost of sales was RMB2,261.9 million (US$311.2 million), representing an increase of 15.6% year over year.

Gross profit was RMB1,773.3 million (US$244.0 million), representing an increase of 36.9% year over year.

Gross margin was 43.9%, representing a record high with an increase of 4.1 percentage points year over year.

Selling and distribution expenses were RMB826.1 million (US$113.7 million), representing an increase of 72.5% year over year. Excluding share-based compensation expenses, selling and distribution expenses were RMB808.6 million (US$111.3 million), representing an increase of 76.4% year over year. The year-over-year increase was mainly attributable to the Company’s investments into directly operated stores both in mainland China and overseas markets to pursue the future success of the Company’s business, especially in strategic overseas markets such as the U.S. market. As of June 30, 2024, total number of directly operated stores in overseas markets was 343, nearly doubling such figure compared to a year ago. In the June Quarter, revenue from directly operated stores increased 109.3%, while related expenses including rental and related expenses, depreciation and amortization expenses, and payroll excluding share-based compensation expenses increased 85.8%.

General and administrative expenses were RMB227.2 million (US$31.3 million), representing an increase of 38.1% year over year. Excluding share-based compensation expenses, general and administrative expenses were RMB211.1 million (US$29.1 million), representing an increase of 31.2% year over year. The year-over-year increase was primarily due to the increase of personnel-related expenses in relation to the growth of the Company’s business.

Other net income was RMB26.9 million (US$3.7 million), compared to RMB38.0 million in the same period of 2023. The year-over-year decrease was mainly due to a net exchange loss of RMB4.2 million (US$0.6 million) in the June Quarter, compared to a net exchange gain of RMB66.1 million in the same period of last year.

Profit for the period was RMB591.4 million (US$81.4 million), representing an increase of 8.1% year over year.

Adjusted net profit, which represents profit for the period excluding equity-settled share-based payment expenses, was RMB625.0 million (US$86.0 million), representing an increase of 9.4% year over year. Adjusted net profit included a net foreign exchange loss of RMB4.2 million (US$0.6 million) in the June Quarter, compared to a net foreign exchange gain of RMB66.1 million in the same period of last year. Excluding net foreign exchange loss and gain, adjusted net profit would have increased 24.6% year over year.

Adjusted net margin was 15.5%, compared to 17.6% in the same period of 2023. Excluding net foreign exchange loss and gain, adjusted net margin would have been 15.6%, compared to 15.5% in the same period of 2023.

Adjusted EBITDA was RMB1,002.0 million (US$137.9 million), representing an increase of 17.1% year over year.

Adjusted EBITDA margin was 24.8%, compared to 26.3% in the same period of 2023.

Basic and diluted earnings per ADS were both RMB1.88 (US$0.26) in the June Quarter, representing an increase of 9.3% year over year from RMB1.72 in the same period of 2023. Each ADS represents four of the Company’s ordinary shares.

Adjusted basic and diluted earnings per ADSwere both RMB2.00 (US$0.28) in the June Quarter, representing an increase of 11.1% year over year from RMB1.80 in the same period of 2023.

Unaudited Financial Results for the FirstHalf of 2024

Revenue was RMB7,758.7 million (US$1,067.6 million), representing an increase of 25.0% year over year, primarily driven by an 18.8% year-over-year increase in average store count, and an around 7% same-store sales growth on group level.

Revenue from mainland China increased by 17.2% to RMB5,026.7 million (US$691.7 million), including (i) an increase of 16.5% in revenue from MINISO’s offline stores in mainland China, which was primarily due to a 16.0% year-over-year growth in average store count, while same-store sales were 98.3% of the prior year’s level, and (ii) an increase of 37.9% in revenue from TOP TOY, which was primarily powered by a strong same-store sales growth of 13.6% and a rapid growth in average store count.

Revenue from overseas markets increased 42.6% to RMB2,732.0 million (US$375.9 million). The year-over-year increase was primarily due to an increase of 21.8% in average store count, coupled with a strong same-store sales growth of 16.3%. Revenue from overseas markets contributed 35.2% of the Company’s total revenue for the First Half of 2024, compared to 30.9% for the same period in 2023.

For more information on the composition and year-over-year change of revenue, please refer to the “Unaudited Additional Information” in this press release.

Cost of sales was RMB4,369.0 million (US$601.2 million), representing an increase of 16.5% year over year.

Gross profit was RMB3,389.8 million (US$466.5 million), representing an increase of 37.9% year over year.

Gross margin was 43.7%, representing an increase of 4.1 percentage points. The year-over-year increase in gross margin was primarily due to (i) higher revenue contribution from directly operated markets which accounted for 55.7% of revenue from overseas markets, compared to 45.7% in the same period of 2023, (ii) higher gross margin in mainland China contributed by newly launched products in relation to the Company’s execution of IP strategy and strategic brand upgrade of MINISO, and (iii) higher gross margin of TOP TOY due to a shift in product mix towards more profitable products.

Other income was RMB12.7 million (US$1.7 million), compared to RMB3.6 million in the same period of 2023. The increase was primarily due to an increase in income from depositary bank.

Selling anddistribution expenses were RMB1,522.1 million (US$209.4 million), increased by 65.8% year over year. Excluding share-based compensation expenses, selling and distribution expenses were RMB1,480.6 million (US$203.7million), increased by 66.4% year over year. The year-over-year increase was mainly attributable to the Company’s investments into directly operated stores both in mainland China and overseas markets to pursue the future success of the Company’s business, especially in strategic overseas markets such as the U.S. market. As of June 30, 2024, total number of directly operated stores in overseas markets was 343, nearly doubling such figure compared to a year ago. In the First Half of 2024, revenue from directly operated stores increased 111.4%, while related expenses including rental and related expenses, depreciation and amortization expenses and payroll excluding share-based compensation expenses increased 82.7%. These new stores are expected to contribute more substantial sales in the second half of 2024. Promotion and advertising expenses increased 46.5% in the First Half of 2024, as a percentage of revenue stabilizing at around 3% in both comparative periods. Licensing expenses increased 24.2%, consistent with revenue growth. Logistics expenses increased 54.3%, reflecting the rising freight costs caused by the tension in international shipping during the First Half of 2024.

General andadministrative expenses were RMB418.6 million (US$57.6 million), increased by 30.9% year over year. Excluding share-based compensation expenses, general and administrative expenses were RMB395.6 million (US$54.4 million), increased by 26.9% year over year. The year-over-year increase was primarily due to the increase of personnel-related expenses in relation to the growth of the Company’s business.

Other net incomewas RMB41.7 million (US$5.7 million), compared to RMB41.3 million in the same period of 2023.

Operating profitwas RMB1,494.8 million (US$205.7 million), representing an increase of 18.1% year over year.

Net financeincome was RMB34.0 million (US$4.7 million), compared to RMB62.3 million in the same period of 2023. The year-over-year decrease was mainly due to a decrease in interest income as a result of decreased principal in bank deposits, and an increase in finance cost due to increased interest on lease liabilities.

Profit for theperiod was RMB1,177.4 million (US$162.0 million), compared to RMB1,017.9 million in the same period of 2023, representing an increase of 15.7% year over year.

Adjusted netprofit, which represents profit for the period excluding equity-settled share-based payment expenses, was RMB1,241.9 million (US$170.9 million), representing an increase of 17.8% year over year. Adjusted net profit included a net foreign exchange loss of RMB12.4 million (US$1.7 million) in the First Half of 2024, compared to a net foreign exchange gain of RMB54.9 million in the same period of last year. Excluding net foreign exchange loss and gain, adjusted net profit would have increased 25.5% year over year.

Adjusted netmargin was 16.0%, compared to 17.0% in the same period of 2023. Excluding net foreign exchange loss and gain, adjusted net margin would have been 16.2%, compared to 16.1% in the same period of 2023.

Adjusted EBITDAincreased 26.0% year over year to RMB1,967.4 million (US$270.7 million).

Adjusted EBITDAmargin was 25.4%, compared to 25.2% in the same period of 2023.

Basic earningsper ADS increased 16.0% year over year to RMB3.76 (US$0.52), compared to RMB3.24 in the same period of 2023.

Dilutedearnings per ADS increased 17.5% year over year to RMB3.76 (US$0.52), compared to RMB3.20 in the same period of 2023.

Adjusted basicearnings per ADS increased 17.9% year over year to RMB3.96 (US$0.54), compared to RMB3.36 in the same period of 2023.

Adjusted dilutedearnings per ADS increased 19.3% year over year to RMB3.96 (US$0.54), compared to RMB3.32 in the same period of 2023.

Net cash from operating activities increased 4.9% year over year to RMB1,293.8 million (US$178.0 million) for the First Half of 2024. Capital expenditure was RMB302.8 million (US$41.7 million) and free cash flow was RMB991.0 million (US$136.4 million) for the First Half of 2024.

Conference Call

The Company’s management will hold an earnings conference call at 5:00 A.M. Eastern Time on Friday, August 30, 2024 (5:00 P.M. Beijing Time on the same day) to discuss the financial results. The conference call can be accessed by the following Zoom link or dialing the following numbers:

Access 1

Join Zoom meeting.

Zoom link: https://zoom.us/j/95898852484?pwd=tBbbJPUtyGu20f1OCy4sxYDNBAGy72.1

Meeting Number: 958 9885 2484

Meeting Passcode:9896

Access 2

Listeners may access the call by dialing the following numbers with the same meeting number and passcode with access 1.

United States:	+1 689 278 1000 (or +1 719 359 4580)
Hong Kong, China:	+852 5803 3730 (or +852 5803 3731)
United Kingdom:	+44 203 481 5237 (or +44 131 460 1196)
France:	+33 1 7037 9729 (or +33 1 7037 2246)
Singapore:	+65 3158 7288 (or +65 3165 1065)
Canada:	+1 438 809 7799 (or +1 204 272 7920)

Access 3

Listeners can also access the meeting through the Company’s investor relations website at https://ir.miniso.com/.

The replay will be available approximately two hours after the conclusion of the live event at the Company’s investor relations website at https://ir.miniso.com/.

About MINISO Group

MINISO Group is a global value retailer offering a variety of trendy lifestyle products featuring IP design. The Company serves consumers primarily through its large network of MINISO stores, and promotes a relaxing, treasure-hunting and engaging shopping experience full of delightful surprises that appeals to all demographics. Aesthetically pleasing design, quality and affordability are at the core of every product in MINISO’s wide product portfolio, and the Company continually and frequently rolls out products with these qualities. Since the opening of its first store in China in 2013, the Company has built its flagship brand “MINISO” as a globally recognized retail brand and established a massive store network worldwide. For more information, please visit https://ir.miniso.com/.

Exchange Rate

The U.S. dollar (US$) amounts disclosed in this press release, except for those transaction amounts that were actually settled in U.S. dollars, are presented solely for the convenience of the readers. The conversion of Renminbi (RMB) into US$ in this press release is based on the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of June 28, 2024, which was RMB7.2672 to US$1.0000. The percentages stated in this press release are calculated based on the RMB amounts.

Non-IFRS Financial Measures

In evaluating the business, MINISO considers and uses adjusted net profit, adjusted net margin, adjusted EBITDA, adjusted EBITDA margin, adjusted basic and diluted net earnings per share and adjusted basic and diluted net earnings per ADS as supplemental measures to review and assess its operating performance. The presentation of these non-IFRS financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with IFRS. MINISO defines adjusted net profit as profit for the period excluding equity-settled share-based payment expenses. MINISO calculates adjusted net margin by dividing adjusted net profit by revenue for the same period. MINISO defines adjusted EBITDA as adjusted net profit plus depreciation and amortization, finance costs and income tax expense. Adjusted EBITDA margin is computed by dividing adjusted EBITDA by revenue for the period. MINISO computes adjusted basic and diluted net earnings per ADS by dividing adjusted net profit attributable to the equity shareholders of the Company by the number of ADSs represented by the number of ordinary shares used in the basic and diluted earnings per share calculation on an IFRS basis. MINISO computes adjusted basic and diluted net earnings per share in the same way as it calculates adjusted basic and diluted net earnings per ADS, except that it uses the number of ordinary shares used in the basic and diluted earnings per share calculation on an IFRS basis as the denominator instead of the number of ADSs represented by these ordinary shares.

MINISO presents these non-IFRS financial measures because they are used by the management to evaluate its operating performance and formulate business plans. These non-IFRS financial measures enable the management to assess its operating results without considering the impacts of the aforementioned non-cash and other adjustment items that MINISO does not consider to be indicative of its operating performance in the future. Accordingly, MINISO believes that the use of these non-IFRS financial measures provides useful information to investors and others in understanding and evaluating its operating results in the same manner as the management and board of directors.

These non-IFRS financial measures are not defined under IFRS and are not presented in accordance with IFRS. These non-IFRS financial measures have limitations as analytical tools. One of the key limitations of using these non-IFRS financial measures is that they do not reflect all items of income and expense that affect MINISO’s operations. Further, these non-IFRS financial measures may differ from the non-IFRS information used by other companies, including peer companies, and therefore their comparability may be limited.

These non-IFRS financial measures should not be considered in isolation or construed as alternatives to profit, net profit margin, basic and diluted earnings per share and basic and diluted earnings per ADS, as applicable, or any other measures of performance or as indicators of MINISO’s operating performance. Investors are encouraged to review MINISO’s historical non-IFRS financial measures in light of the most directly comparable IFRS measures, as shown below. The non-IFRS financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting the usefulness of such measures when analyzing MINISO’s data comparatively. MINISO encourages you to review its financial information in its entirety and not rely on a single financial measure.

For more information on the non-IFRS financial measures, please see the table captioned “Reconciliation of Non-IFRS Financial Measures” set forth at the end of this press release.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “intend”, “plan”, “believe”, “is/are likely to”, “potential”, “continue” or other similar expressions. Among other things, the quotations from management in this announcement, as well as MINISO’s strategic and operational plans, contain forward-looking statements. MINISO may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”) and The Stock Exchange of Hong Kong Limited (the “HKEX”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about MINISO’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: MINISO’s mission, goals and strategies; future business development, financial conditions and results of operations; the expected growth of the retail market and the market of branded variety retail of lifestyle products in China and globally; expectations regarding demand for and market acceptance of MINISO’s products; expectations regarding MINISO’s relationships with consumers, suppliers, MINISO Retail Partners, local distributors, and other business partners; competition in the industry; proposed use of proceeds; and relevant government policies and regulations relating to MINISO’s business and the industry. Further information regarding these and other risks is included in MINISO’s filings with the SEC and the HKEX. All information provided in this press release and in the attachments is as of the date of this press release, and MINISO undertakes no obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contacts:

Raine Hu

MINISO Group Holding Limited

Email: [email protected]

Phone: +86 (20) 36228788 Ext.8039

MINISO GROUP HOLDING LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(Expressed in thousands)

	As at		As at
	December 31, 2023		June 30, 2024
	(Audited)		(Unaudited)
		RMB’000		RMB’000	US$’000
ASSETS
Non-current assets
Property, plant and equipment		769,306		1,047,687	144,167
Right-of-use assets		2,900,860		3,684,817	507,048
Intangible assets		19,554		12,333	1,697
Goodwill		21,643		21,247	2,924
Deferred tax assets		104,130		116,577	16,042
Other investments		90,603		106,102	14,600
Trade and other receivables		135,796		173,136	23,823
Term deposits		100,000		103,308	14,216
Interests in equity-accounted investees		15,783		14,814	2,038
		4,157,675		5,280,021	726,555
Current assets
Other investments		252,866		350,913	48,287
Inventories		1,922,241		1,949,849	268,308
Trade and other receivables		1,518,357		1,614,148	222,114
Cash and cash equivalents		6,415,441		6,233,089	857,702
Restricted cash		7,970		1,965	270
Term deposits		210,759		283,007	38,943
		10,327,634		10,432,971	1,435,624
Total assets		14,485,309		15,712,992	2,162,179

MINISO GROUP HOLDING LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (CONTINUED)

(Expressed in thousands)

	As at		As at
	December 31, 2023		June30, 2024
	(Audited)		(Unaudited)
		RMB’000		RMB’000	US$’000
EQUITY
Share capital		95		95	13
Additional paid-in capital		6,331,375		5,543,845	762,858
Other reserves		1,114,568		1,260,576	173,461
Retained earnings		1,722,157		2,892,259	397,988
Equity attributable to equity shareholders of the Company		9,168,195		9,696,775	1,334,320
Non-controlling interests		23,022		28,006	3,854
Total equity		9,191,217		9,724,781	1,338,174
LIABILITIES
Non-current liabilities
Contract liabilities		40,954		39,299	5,408
Loans and borrowings		6,533		6,414	883
Other payables		12,411		32,786	4,512
Lease liabilities		797,986		1,481,836	203,907
Deferred income		29,229		37,480	5,157
		887,113		1,597,815	219,867
Current liabilities
Contract liabilities		324,028		344,422	47,394
Loans and borrowings		726		713	98
Trade and other payables		3,389,826		3,328,888	458,070
Lease liabilities		447,319		455,453	62,672
Deferred income		6,644		6,685	920
Current taxation		238,436		254,235	34,984
		4,406,979		4,390,396	604,138
Total liabilities		5,294,092		5,988,211	824,005
Total equity and liabilities		14,485,309		15,712,992	2,162,179

MINISO GROUP HOLDING LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

(Expressed in thousands, except for per ordinary share and per ADS data)

****	****	Threemonths ended June 30,						Six months ended June 30,
****	2023		****	2024				2023		****	2024
	(Unaudited)			(Unaudited)				(Unaudited)			(Unaudited)
		RMB’000			RMB’000		US ’000		RMB’000			RMB’000		US ’000
Revenue		3,252,182			4,035,212		555,264		6,206,330			7,758,743		1,067,639
Cost of sales		(1,956,535	)		(2,261,884	)	(311,246		(3,748,938	)		(4,368,957	)	(601,188
Gross profit		1,295,647			1,773,328		244,018		2,457,392			3,389,786		466,451
Other income		2,842			9,053		1,246		3,624			12,698		1,747
Selling and distribution expenses		(478,948	)		(826,061	)	(113,670		(917,966	)		(1,522,088	)	(209,446
General and administrative expenses		(164,499	)		(227,232	)	(31,268		(319,705	)		(418,573	)	(57,598
Other net income		37,966			26,867		3,697		41,256			41,696		5,738
Reversal/(Credit loss) of credit loss on trade and other receivables		460			(2,939	)	(404		4,788			(3,606	)	(496
Impairment loss on non-current assets		(3,448	)		(1,492	)	(205		(3,448	)		(5,104	)	(702
Operating profit		690,020			751,524		103,414		1,265,941			1,494,809		205,694
Finance income		46,814			33,716		4,639		80,541			74,606		10,266
Finance costs		(9,631	)		(24,686	)	(3,397		(18,277	)		(40,595	)	(5,586
Net finance income		37,183			9,030		1,242		62,264			34,011		4,680
Share of profit of an equity-accounted investees, net of tax		-			181		25		-			301		41
Profit before taxation		727,203			760,735		104,681		1,328,205			1,529,121		210,415
Income tax expense		(180,212	)		(169,310	)	(23,298		(310,287	)		(351,742	)	(48,401
Profit for the period		546,991			591,425		81,383		1,017,918			1,177,379		162,014
Attributable to:
Equity shareholders of the Company		539,331			587,630		80,861		1,004,836			1,170,102		161,013
Non-controlling interests		7,660			3,795		522		13,082			7,277		1,001
Earnings per share for ordinary shares
-Basic		0.43			0.47		0.06		0.81			0.94		0.13
-Diluted		0.43			0.47		0.06		0.80			0.94		0.13
Earnings per ADS(Each ADS represents 4 ordinary shares)
-Basic		1.72			1.88		0.26		3.24			3.76		0.52
-Diluted		1.72			1.88		0.26		3.20			3.76		0.52

All values are in US Dollars.

MINISO GROUP HOLDING LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (CONTINUED)

(Expressed in thousands)

	Three months ended June 30,					Six months ended June 30,
	2023		2024			2023		2024
	(Unaudited)		(Unaudited)			(Unaudited)		(Unaudited)
	RMB’000		RMB’000		US ’000	RMB’000		RMB’000		US ’000
Profit for the period		546,991		591,425			1,017,918		1,177,379
Items that may be reclassified subsequently to profit or loss:
Exchange differences on translation of financial statements of foreign operations		62,799		2,990			54,832		6,845
Other comprehensive income for the period		62,799		2,990			54,832		6,845
Total comprehensive income for the period		609,790		594,415			1,072,750		1,184,224
Attributable to:
Equity shareholders of the Company		601,200		591,877			1,057,099		1,178,043
Non-controlling interests		8,590		2,538			15,651		6,181

All values are in US Dollars.

MINISO GROUP HOLDING LIMITED

RECONCILIATION OF NON-IFRS FINANCIAL MEASURES

(Expressed in thousands, except for per share, per ADS data and percentages)

****	Three months ended June 30,								****	Six months ended June 30,								****
****	2023		****	2024					****	2023		****	2024					****
****	(Unaudited)		****	(Unaudited)					****	(Unaudited)		****	(Unaudited)
	RMB’000				RMB’000			US’000		RMB’000				RMB’000			US’000
Reconciliation of profit for the period to adjusted net profit:
Profit for the period		546,991				591,425					1,017,918				1,177,379
Add back:
Equity-settled share-based payment expenses		24,212				33,570					36,302				64,507
Adjusted net profit		571,203				624,995					1,054,220				1,241,886
Adjusted net margin		17.6	%			15.5	%		%		17.0	%			16.0	%		%
Attributable to:
Equity shareholders of the Company		563,543				621,021					1,041,138				1,234,430
Non-controlling interests		7,660				3,974					13,082				7,456
Adjusted net earnings per share^(1)^
-Basic		0.45				0.50					0.84				0.99
-Diluted		0.45				0.50					0.83				0.99
Adjusted net earnings per ADS (Each ADS represents 4 ordinary shares)
-Basic		1.80				2.00					3.36				3.96
-Diluted		1.80				2.00					3.32				3.96
Reconciliation of adjusted net profit for the period to adjusted EBITDA:
Adjusted net profit		571,203				624,995					1,054,220				1,241,886
Add back:
Depreciation and amortization		94,379				183,029					179,004				333,131
Finance costs		9,631				24,686					18,277				40,595
Income tax expense		180,212				169,310					310,287				351,742
Adjusted EBITDA		855,425				1,002,020					1,561,788				1,967,354
Adjusted EBITDA margin		26.3	%			24.8	%		%		25.2	%			25.4	%		%

All values are in US Dollars.

Note:

(1) Adjusted basic and diluted net earnings per share are computed by dividing adjusted net profit attributable to the equity shareholders of the Company by the number of ordinary shares used in the basic and diluted earnings per share calculation on an IFRS basis.

MINISO GROUP HOLDING LIMITED

UNAUDITED ADDITIONAL INFORMATION

(Expressed in thousands, except for percentages)

	Three months ended June 30,								Six months ended June 30,
	2023		2024						2023		2024
	RMB’000		RMB’000		US’000	YoY			RMB’000		RMB’000		US’000	YoY
Revenue
Mainland China		2,137,422		2,525,064			18.1	%		4,290,654		5,026,729			17.2	%
-MINISO Brand^(1)^		1,951,592		2,308,008			18.3	%		3,952,460		4,592,798			16.2	%
-TOP TOY Brand		172,965		214,952			24.3	%		310,867		428,772			37.9	%
-Others^(2)^		12,865		2,104			(83.6	)%		27,327		5,159			(81.1	)%
Overseas		1,114,760		1,510,148			35.5	%		1,915,676		2,732,014			42.6	%
		3,252,182		4,035,212			24.1	%		6,206,330		7,758,743			25.0	%

All values are in US Dollars.

Note:

(1) “MINISO Brand” refers to the revenue generated from MINISO brand including revenue from offline stores, e-commerce and others in mainland China.

(2) “Others” refers to revenue generated from other operating segments such as “WonderLife”, which was a secondary brand targeting on lower-tier cities in mainland China, aggregated and presented as “others”. As the MINISO brand increasingly penetrated into lower-tier cities in mainland China, “WonderLife” has become marginalized.

MINISO GROUP HOLDING LIMITED

UNAUDITED ADDITIONAL INFORMATION

NUMBER OF MINISO STORES IN MAINLAND CHINA

	As of
	June 30, 2023		December 31, 2023		June 30, 2024		YoY		YTD^(1)^
By City Tiers
First-tier cities		474		522		541		67		19
Second-tier cities		1,496		1,617		1,705		209		88
Third- or lower-tier cities		1,634		1,787		1,869		235		82
Total		3,604		3,926		4,115		511		189

Note:

(1) “YTD” refers to the period starting from January 1, 2024 to June 30, 2024.

MINISO GROUP HOLDING LIMITED

UNAUDITED ADDITIONAL INFORMATION

NUMBER OF MINISO STORES IN OVERSEAS MARKETS

	As of
	June 30,<br> 2023		December 31, <br> 2023		June 30,<br> 2024		YoY		YTD^(1)^
By Regions
Asia excluding China		1,206		1,333		1,484		278		151
North America		123		172		234		111		62
Latin America		492		552		584		92		32
Europe		198		231		244		46		13
Others		168		199		207		39		8
Total		2,187		2,487		2,753		566		266

Note:

(1) “YTD” refers to the period starting from January 1, 2024 to June 30, 2024.

Exhibit 99.2

Hong Kong Exchanges and ClearingLimited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make norepresentation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arisingfrom or in reliance upon the whole or any part of the contents of this announcement.

MINISOGroup Holding Limited

名創優品集團控股有限公司

(Acompany incorporated in the Cayman Islands with limited liability)

(StockCode: 9896)

INSIDEINFORMATION

UNAUDITEDQUARTER AND INTERIM FINANCIAL RESULTSFOR THE THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 2024

This announcement is issued pursuant to Rule 13.09 of the Rules Governing the Listing of the Securities on The Stock Exchange of Hong Kong Limited and under Part XIVA of the Securities and Futures Ordinance (Cap. 571).

MINISO Group Holding Limited (“MINISO” or the “Company”) is pleased to announce the unaudited condensed consolidated results of the Company and its subsidiaries for the three months and six months ended June 30, 2024.

The Company is pleased to announce the unaudited condensed consolidated results of the Company and its subsidiaries for the three months and six months ended June 30, 2024 published in accordance with applicable rules of the U.S. Securities and Exchange Commission (the “SEC”).

Attached hereto as Schedule I is the full text of the press release issued by the Company on August 30, 2024 (Eastern Standard Time), in relation to the unaudited financial results for the three months and six months ended June 30, 2024, some of which may constitute material inside information of the Company.

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. Among other things, the quotations from management in this announcement, as well as MINISO’s strategic and operational plans, contain forward-looking statements. MINISO may also make written or oral forward-looking statements in its periodic reports to the SEC and The Stock Exchange of Hong Kong Limited (the “HKEX”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about MINISO’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: MINISO’s mission, goals and strategies; future business development, financial conditions and results of operations; the expected growth of the retail market and the market of branded variety retail of lifestyle products in China and globally; expectations regarding demand for and market acceptance of MINISO’s products; expectations regarding MINISO’s relationships with consumers, suppliers, MINISO Retail Partners, local distributors, and other business partners; competition in the industry; proposed use of proceeds; and relevant government policies and regulations relating to MINISO’s business and the industry. Further information regarding these and other risks is included in MINISO’s filings with the SEC and the HKEX. All information provided in this announcement and in the attachments is as of the date of this announcement, and MINISO undertakes no obligation to update any forward-looking statement, except as required under applicable law.

The Company’s shareholders and potential investors are advised not to place undue reliance on the unaudited financial results for the three months and six months ended June 30, 2024 and to exercise caution in dealing in securities in the Company.

By Order of the Board
MINISO Group<br> Holding Limited
Mr. YE Guofu
Executive Director<br> and Chairman

Hong Kong, August 30, 2024

As of the date of thisannouncement, the board of directors of the Company comprises Mr. YE Guofu as executive Director, Ms. XU Lili, Mr. ZHU Yonghua and Mr.WANG Yongping as independent non-executive Directors.

SCHEDULE I

MINISO Group Announces 2024 June Quarterand Interim Unaudited Financial Results

GUANGZHOU, China, August 30, 2024/PRNewswire/ — MINISO Group Holding Limited (NYSE: MNSO; HKEX: 9896) (“MINISO”, “MINISO Group” or the “Company”), a global value retailer offering a variety of trendy lifestyle products featuring IP design, today announced its unaudited financial results for the quarter ended June 30, 2024 (the “June Quarter”) and the six months ended June 30, 2024 (the “First Half of 2024”).

Financial Highlights for the June Quarter

·	Revenue increased 24.1% year over year to RMB4,035.2 million (US$555.3<br>million), surpassing RMB4 billion for the first time.
·	Gross profit increased 36.9% year over year to RMB1,773.3 million (US$244.0 million).
---	---
·	Gross margin was 43.9%, a record high for the Company, compared to 39.8% in<br>the same period of 2023.
---	---
·	Operating profit increased 8.9% year over year to RMB751.5 million (US$103.4 million).
---	---
·	Profit for the period increased 8.1% year over year to RMB591.4 million (US$81.4 million).
---	---
·	Adjusted net profit^(1)^ increased 9.4% year over year to RMB625.0 million (US$86.0 million).<br> Adjusted net profit included a net foreign exchange loss of RMB4.2 million (US$0.6 million)<br> in the June Quarter, compared to a net foreign exchange gain of RMB66.1 million in the same<br> period of last year. Excluding net foreign exchange loss and gain, adjusted net profit would<br> have increased 24.6% year over year.
---	---
·	Adjusted net margin^(1)^ was 15.5%, compared to 17.6% in the same period of 2023. Excluding<br> net foreign exchange loss and gain, adjusted net profit margin for the June Quarter would<br> have been 15.6%, compared to 15.5% in the same period of 2023.
---	---
·	Adjusted EBITDA^(1)^ increased 17.1% year over year to RMB1,002.0 million (US$137.9 million).
---	---
·	Adjusted EBITDA margin^(1)^ was 24.8%, compared to 26.3% in the same period of 2023.
---	---
·	Adjusted basic and diluted earnings per ADS^(1)^ both increased 11.1% year over year<br> to RMB2.00 (US$0.28).
---	---

Financial Highlights for the First Halfof 2024

·	Revenue increased 25.0% year over year to RMB7,758.7 million (US$1,067.6 million).
·	Gross profit increased 37.9% year over year to RMB3,389.8 million (US$466.5 million).
---	---
·	Gross margin was 43.7%, compared to 39.6% in the same period last year.
---	---
·	Operating profit increased 18.1% year over year to RMB1,494.8 million (US$205.7 million).
---	---
·	Profit for the period increased 15.7% year over year to RMB1,177.4 million<br>(US$162.0 million).
---	---
·	Adjusted net profit^(1)^ increased 17.8% year over year to RMB1,241.9 million (US$170.9<br> million). Adjusted net profit included a net foreign exchange loss of RMB12.4 million (US$1.7<br> million) in the First Half of 2024, compared to a net foreign exchange gain of RMB54.9 million<br> in the same period of last year. Excluding net foreign exchange loss and gain, adjusted net<br> profit would have increased 25.5% year over year.
---	---
·	Adjusted net margin^(1)^ was 16.0%, compared to 17.0% in the same period of 2023. Excluding<br> net foreign exchange loss and gain, adjusted net profit margin for the First Half of 2024<br> would have been 16.2%, compared to 16.1% in the same period of 2023.
---	---
·	Adjusted EBITDA^(1)^ increased 26.0% year over year to RMB1,967.4 million (US$270.7 million).
---	---
·	Adjusted EBITDA margin^(1)^ was 25.4%, compared to 25.2% in the same period of 2023.
---	---
·	Adjusted basic and diluted earnings per ADS^(1)^ were both RMB3.96 (US$0.54), representing<br> increases of 17.9% and 19.3% year over year, respectively.
---	---
·	Net cash from operating activities increased 4.9% year over year to RMB1,293.8<br>million (US$178.0 million). Capital expenditure was RMB302.8 million (US$41.7 million) and free cash flow was RMB991.0 million (US$136.4<br>million) for the First Half of 2024.
---	---

Operational Highlights

·	Number of MINISO stores was 6,868 as of June 30, 2024, with an opening of 455<br>net new stores in the First Half of 2024.
·	Number of MINISO stores in mainland China was 4,115 as of June 30, 2024, with<br>an opening of 189 net new stores in the First Half of 2024.
---	---
·	Number of MINISO stores in overseas markets was 2,753 as of June 30, 2024,<br>with a record opening of 266 net new stores in the First Half of 2024, compared to 72 in the same period of 2023.
---	---
·	Number of TOP TOY stores was 195 as of June 30, 2024, with a record opening<br>of 47 net new stores in the First Half of 2024.
---	---

Note:

(1)	See the sections titled “Non-IFRS<br>Financial Measures” and “Reconciliation of Non-IFRS Financial Measures” in this press release for more information.

	As of
	June 30,		December 31,		June 30,
	2023		2023		2024		YoY		YTD^(3)^
Number of MINISO stores^(1)^		5,791		6,413		6,868		1,077		455
Mainland China		3,604		3,926		4,115		511		189
– Directly operated stores		15		26		29		14		3
– Third-party stores		3,589		3,900		4,086		497		186
Overseas		2,187		2,487		2,753		566		266
– Directly operated stores		176		238		343		167		105
– Third-party stores		2,011		2,249		2,410		399		161
Number of TOP TOY stores^(2)^		118		148		195		77		47
– Directly operated stores		9		14		21		12		7
– Third-party stores		109		134		174		65		40

Notes:

(1)	“MINISO stores” refers to the offline stores operated under the<br>“MINISO” brand, including those directly operated by the Company, and those operated by third parties under the MINISO Retail<br>Partner model and the distributor model.
(2)	“TOP TOY stores” refers to the offline stores operated under the “TOP<br>TOY” brand, including those directly operated by the Company, and those operated by third parties under the MINISO Retail Partner<br>model.
---	---
(3)	“Year-to-date” or “YTD” refers to the period starting from January 1, 2024 to<br>June 30, 2024.
---	---

Interim Dividend Declaration

On August 30, 2024, the Company’s board of directors approved the distribution of an interim cash dividend in the amount of US$0.2744 per American Depositary Share (“ADS”) or US$0.0686 per ordinary share, to holders of ADSs and ordinary shares of record as of the close of business on September 13, 2024, New York Time and Beijing/Hong Kong Time, respectively. The ex-dividend date will be September 12, 2024. The payment date is expected to be September 23, 2024 for holders of ordinary shares and September 27, 2024 for holders of ADSs. The aggregate amount of cash dividend to be paid is approximately US$85.5 million (RMB621.3 million at an exchange rate of RMB7.2672 to US$1.0000), which is approximately 50% of the Company’s adjusted net profit for the First Half of 2024 and will be distributed from additional paid-in capital and settled by a cash distribution.

Unaudited Financial Results for the June Quarter 2024

For more information on the composition and year-over-year change of revenue, please refer to the “Unaudited Additional Information” in this press release.

Cost of sales was RMB2,261.9 million (US$311.2 million), representing an increase of 15.6% year over year.

Gross profit was RMB1,773.3 million (US$244.0 million), representing an increase of 36.9% year over year.

Gross margin was 43.9%, representing a record high with an increase of 4.1 percentage points year over year.

Selling and distributionexpenses were RMB826.1 million (US$113.7 million), representing an increase of 72.5% year over year. Excluding share-based compensation expenses, selling and distribution expenses were RMB808.6 million (US$111.3 million), representing an increase of 76.4% year over year. The year-over-year increase was mainly attributable to the Company’s investments into directly operated stores both in mainland China and overseas markets to pursue the future success of the Company’s business, especially in strategic overseas markets such as the U.S. market. As of June 30, 2024, total number of directly operated stores in overseas markets was 343, nearly doubling such figure compared to a year ago. In the June Quarter, revenue from directly operated stores increased 109.3%, while related expenses including rental and related expenses, depreciation and amortization expenses, and payroll excluding share-based compensation expenses increased 85.8%.

General and administrativeexpenses were RMB227.2 million (US$31.3 million), representing an increase of 38.1% year over year. Excluding share-based compensation expenses, general and administrative expenses were RMB211.1 million (US$29.1 million), representing an increase of 31.2% year over year. The year-over-year increase was primarily due to the increase of personnel-related expenses in relation to the growth of the Company’s business.

Profit for the period was RMB591.4 million (US$81.4 million), representing an increase of 8.1% year over year.

Adjusted EBITDA was RMB1,002.0 million (US$137.9 million), representing an increase of 17.1% year over year.

Adjusted EBITDA margin was 24.8%, compared to 26.3% in the same period of 2023.

Basic and diluted earningsper ADS were both RMB1.88 (US$0.26) in the June Quarter, representing an increase of 9.3% year over year from RMB1.72 in the same period of 2023. Each ADS represents four of the Company’s ordinary shares.

Adjusted basic anddiluted earnings per ADS were both RMB2.00 (US$0.28) in the June Quarter, representing an increase of 11.1% year over year from RMB1.80 in the same period of 2023.

Unaudited Financial Results for the First Half of2024

For more information on the composition and year-over-year change of revenue, please refer to the “Unaudited Additional Information” in this press release.

Cost of sales was RMB4,369.0 million (US$601.2 million), representing an increase of 16.5% year over year.

Gross profit was RMB3,389.8 million (US$466.5 million), representing an increase of 37.9% year over year.

Other income was RMB12.7 million (US$1.7 million), compared to RMB3.6 million in the same period of 2023. The increase was primarily due to an increase in income from depositary bank.

Selling and distribution expenseswere RMB1,522.1 million (US$209.4 million), increased by 65.8% year over year. Excluding share-based compensation expenses, selling and distribution expenses were RMB1,480.6 million (US$203.7 million), increased by 66.4% year over year. The year-over-year increase was mainly attributable to the Company’s investments into directly operated stores both in mainland China and overseas markets to pursue the future success of the Company’s business, especially in strategic overseas markets such as the U.S. market. As of June 30, 2024, total number of directly operated stores in overseas markets was 343, nearly doubling such figure compared to a year ago. In the First Half of 2024, revenue from directly operated stores increased 111.4%, while related expenses including rental and related expenses, depreciation and amortization expenses and payroll excluding share-based compensation expenses increased 82.7%. These new stores are expected to contribute more substantial sales in the second half of 2024. Promotion and advertising expenses increased 46.5% in the First Half of 2024, as a percentage of revenue stabilizing at around 3% in both comparative periods. Licensing expenses increased 24.2%, consistent with revenue growth. Logistics expenses increased 54.3%, reflecting the rising freight costs caused by the tension in international shipping during the First Half of 2024.

General and administrativeexpenses were RMB418.6 million (US$57.6 million), increased by 30.9% year over year. Excluding share-based compensation expenses, general and administrative expenses were RMB395.6 million (US$54.4 million), increased by 26.9% year over year. The year-over-year increase was primarily due to the increase of personnel-related expenses in relation to the growth of the Company’s business.

Other net income was RMB41.7 million (US$5.7 million), compared to RMB41.3 million in the same period of 2023.

Operating profit was RMB1,494.8 million (US$205.7 million), representing an increase of 18.1% year over year.

Net finance incomewas RMB34.0 million (US$4.7 million), compared to RMB62.3 million in the same period of 2023. The year-over-year decrease was mainly due to a decrease in interest income as a result of decreased principal in bank deposits, and an increase in finance cost due to increased interest on lease liabilities.

Profit for the period was RMB1,177.4 million (US$162.0 million), compared to RMB1,017.9 million in the same period of 2023, representing an increase of 15.7% year over year.

Adjusted net profit, which represents profit for the period excluding equity-settled share-based payment expenses, was RMB1,241.9 million (US$170.9 million), representing an increase of 17.8% year over year. Adjusted net profit included a net foreign exchange loss of RMB12.4 million (US$1.7 million) in the First Half of 2024, compared to a net foreign exchange gain of RMB54.9 million in the same period of last year. Excluding net foreign exchange loss and gain, adjusted net profit would have increased 25.5% year over year.

Adjusted net margin was 16.0%, compared to 17.0% in the same period of 2023. Excluding net foreign exchange loss and gain, adjusted net margin would have been 16.2%, compared to 16.1% in the same period of 2023.

Adjusted EBITDA increased 26.0% year over year to RMB1,967.4 million (US$270.7 million).

Adjusted EBITDA margin was 25.4%, compared to 25.2% in the same period of 2023.

Basic earnings per ADS increased 16.0% year over year to RMB3.76 (US$0.52), compared to RMB3.24 in the same period of 2023.

Diluted earnings per ADS increased 17.5% year over year to RMB3.76 (US$0.52), compared to RMB3.20 in the same period of 2023.

Adjusted basic earnings per ADS increased 17.9% year over year to RMB3.96 (US$0.54), compared to RMB3.36 in the same period of 2023.

Adjusted diluted earnings per ADS increased 19.3% year over year to RMB3.96 (US$0.54), compared to RMB3.32 in the same period of 2023.

Conference Call

Access 1

Join Zoom meeting.

Zoom link: https://zoom.us/j/95898852484?pwd=tBbbJPUtyGu20f1OCy4sxYDNBAGy72.1

Meeting Number: 958 9885 2484

Meeting Passcode: 9896

Access 2

Listeners may access the call by dialing the following numbers with the same meeting number and passcode with access 1.

United States:	+1 689 278 1000 (or +1 719 359 4580)
Hong Kong, China:	+852 5803 3730 (or +852 5803 3731)
United Kingdom:	+44 203 481 5237 (or +44 131 460 1196)
France:	+33 1 7037 9729 (or +33 1 7037 2246)
Singapore:	+65 3158 7288 (or +65 3165 1065)
Canada:	+1 438 809 7799 (or +1 204 272 7920)

Access 3

Listeners can also access the meeting through the Company’s investor relations website at https://ir.miniso.com/.

The replay will be available approximately two hours after the conclusion of the live event at the Company’s investor relations website at https://ir.miniso.com/.

About MINISO Group

Exchange Rate

Non-IFRS Financial Measures

For more information on the non-IFRS financial measures, please see the table captioned “Reconciliation of Non-IFRS Financial Measures” set forth at the end of this press release.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “intend”, “plan”, “believe”, “is/are likely to”, “potential”, “continue” or other similar expressions. Among other things, the quotations from management in this announcement, as well as MINISO’s strategic and operational plans, contain forward-looking statements. MINISO may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”) and The Stock Exchange of Hong Kong Limited (the “HKEX”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about MINISO’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: MINISO’s mission, goals and strategies; future business development, financial conditions and results of operations; the expected growth of the retail market and the market of branded variety retail of lifestyle products in China and globally; expectations regarding demand for and market acceptance of MINISO’s products; expectations regarding MINISO’s relationships with consumers, suppliers, MINISO Retail Partners, local distributors, and other business partners; competition in the industry; proposed use of proceeds; and relevant government policies and regulations relating to MINISO’s business and the industry. Further information regarding these and other risks is included in MINISO’s filings with the SEC and the HKEX. All information provided in this press release and in the attachments is as of the date of this press release, and MINISO undertakes no obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contacts:

Raine Hu

MINISO Group Holding Limited

Email: [email protected]

Phone: +86 (20) 36228788 Ext.8039

MINISO GROUP HOLDING LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTSOF FINANCIAL POSITION

(Expressed in thousands)

	As at		As at
	December 31, 2023		June 30, 2024
	(Audited)		(Unaudited)
	RMB’000		RMB’000		US’000
ASSETS
Non-current assets
Property, plant and equipment		769,306		1,047,687
Right-of-use assets		2,900,860		3,684,817
Intangible assets		19,554		12,333
Goodwill		21,643		21,247
Deferred tax assets		104,130		116,577
Other investments		90,603		106,102
Trade and other receivables		135,796		173,136
Term deposits		100,000		103,308
Interests in<br> equity-accounted investees		15,783		14,814
		4,157,675		5,280,021
Current assets
Other investments		252,866		350,913
Inventories		1,922,241		1,949,849
Trade and other receivables		1,518,357		1,614,148
Cash and cash equivalents		6,415,441		6,233,089
Restricted cash		7,970		1,965
Term deposits		210,759		283,007
		10,327,634		10,432,971
Total assets		14,485,309		15,712,992

All values are in US Dollars.

MINISOGROUP HOLDING LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTSOF FINANCIAL POSITION (CONTINUED)

(Expressed in thousands)

	As at		As at
	December 31, 2023		June 30, 2024
	(Audited)		(Unaudited)
	RMB’000		RMB’000		US’000
EQUITY
Share capital		95		95
Additional paid-in capital		6,331,375		5,543,845
Other reserves		1,114,568		1,260,576
Retained earnings		1,722,157		2,892,259
Equity attributable to<br> equity shareholders of the Company		9,168,195		9,696,775
Non-controlling interests		23,022		28,006
Total equity		9,191,217		9,724,781
LIABILITIES
Non-current liabilities
Contract liabilities		40,954		39,299
Loans and borrowings		6,533		6,414
Other payables		12,411		32,786
Lease liabilities		797,986		1,481,836
Deferred income		29,229		37,480
		887,113		1,597,815
Current liabilities
Contract liabilities		324,028		344,422
Loans and borrowings		726		713
Trade and other payables		3,389,826		3,328,888
Lease liabilities		447,319		455,453
Deferred income		6,644		6,685
Current taxation		238,436		254,235
		4,406,979		4,390,396
Total liabilities		5,294,092		5,988,211
Total equity and liabilities		14,485,309		15,712,992

All values are in US Dollars.

MINISOGROUP HOLDING LIMITED

UNAUDITEDCONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS

AND OTHER COMPREHENSIVE INCOME

(Expressed in thousands, except for perordinary share and per ADS data)

	Three months ended June 30,							Six months ended June 30,
	2023			2024				2023			2024
	(Unaudited)			(Unaudited)				(Unaudited)			(Unaudited)
		RMB’000			RMB’000		US’000		RMB’000			RMB’000		US’000
Revenue		3,252,182			4,035,212		555,264		6,206,330			7,758,743		1,067,639
Cost of sales		(1,956,535	)		(2,261,884	)	(311,246		(3,748,938	)		(4,368,957	)	(601,188
Gross profit		1,295,647			1,773,328		244,018		2,457,392			3,389,786		466,451
Other income		2,842			9,053		1,246		3,624			12,698		1,747
Selling and distribution expenses		(478,948	)		(826,061	)	(113,670		(917,966	)		(1,522,088	)	(209,446
General and administrative expenses		(164,499	)		(227,232	)	(31,268		(319,705	)		(418,573	)	(57,598
Other net income		37,966			26,867		3,697		41,256			41,696		5,738
Reversal/(Credit loss) of<br> credit loss on trade and other receivables		460			(2,939	)	(404		4,788			(3,606	)	(496
Impairment loss on non-current assets		(3,448	)		(1,492	)	(205		(3,448	)		(5,104	)	(702
Operating profit		690,020			751,524		103,414		1,265,941			1,494,809		205,694
Finance income		46,814			33,716		4,639		80,541			74,606		10,266
Finance costs		(9,631	)		(24,686	)	(3,397		(18,277	)		(40,595	)	(5,586
Net finance income		37,183			9,030		1,242		62,264			34,011		4,680
Share<br> of profit of an equity-accounted investees, net of tax		–			181		25		–			301		41
Profit before taxation		727,203			760,735		104,681		1,328,205			1,529,121		210,415
Income tax expense		(180,212	)		(169,310	)	(23,298		(310,287	)		(351,742	)	(48,401
Profit for the period		546,991			591,425		81,383		1,017,918			1,177,379		162,014
Attributable to:
Equity shareholders of the Company		539,331			587,630		80,861		1,004,836			1,170,102		161,013
Non-controlling interests		7,660			3,795		522		13,082			7,277		1,001
Earnings per share for ordinary shares
– Basic		0.43			0.47		0.06		0.81			0.94		0.13
– Diluted		0.43			0.47		0.06		0.80			0.94		0.13
Earnings per ADS (Each ADS represents 4<br> ordinary shares)
– Basic		1.72			1.88		0.26		3.24			3.76		0.52
– Diluted		1.72			1.88		0.26		3.20			3.76		0.52

All values are in US Dollars.

MINISOGROUP HOLDING LIMITED

UNAUDITEDCONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS

AND OTHER COMPREHENSIVE INCOME (CONTINUED)

(Expressed in thousands)

	Three months ended June 30,					Six months ended June 30,
	2023		2024			2023		2024
	(Unaudited)		(Unaudited)			(Unaudited)		(Unaudited)
	RMB’000		RMB’000		US’000	RMB’000		RMB’000		US’000
Profit for the period		546,991		591,425			1,017,918		1,177,379
Items that may be reclassified subsequently to profit or loss:
Exchange differences on translation of financial statements of foreign operations		62,799		2,990			54,832		6,845
Other comprehensive income for the period		62,799		2,990			54,832		6,845
Total comprehensive income for the period		609,790		594,415			1,072,750		1,184,224
Attributable to:
Equity shareholders of the Company		601,200		591,877			1,057,099		1,178,043
Non-controlling interests		8,590		2,538			15,651		6,181

All values are in US Dollars.

MINISO GROUP HOLDING LIMITED

RECONCILIATION OF NON-IFRS FINANCIAL MEASURES

(Expressed in thousands, except for pershare, per ADS data and percentages)

	Three months ended June 30,								Six months ended June 30,
	2023			2024					2023			2024
	(Unaudited)			(Unaudited)					(Unaudited)			(Unaudited)
	RMB’000			RMB’000			US’000		RMB’000			RMB’000			US’000
Reconciliation of profit for the period to adjusted net profit:
Profit for the period		546,991			591,425					1,017,918			1,177,379
Add back:
Equity-settled share-based payment expenses		24,212			33,570					36,302			64,507
Adjusted net profit		571,203			624,995					1,054,220			1,241,886
Adjusted net margin		17.6	%		15.5	%		%		17.0	%		16.0	%		%
Attributable to:
Equity shareholders of the Company		563,543			621,021					1,041,138			1,234,430
Non-controlling interests		7,660			3,974					13,082			7,456
Adjusted net earnings per share^(1)^
– Basic		0.45			0.50					0.84			0.99
– Diluted		0.45			0.50					0.83			0.99
Adjusted net earnings per ADS (Each ADS<br> represents 4 ordinary shares)
– Basic		1.80			2.00					3.36			3.96
– Diluted		1.80			2.00					3.32			3.96
Reconciliation of adjusted net profit<br> for the period to adjusted EBITDA:
Adjusted net profit		571,203			624,995					1,054,220			1,241,886
Add back:
Depreciation and amortization		94,379			183,029					179,004			333,131
Finance costs		9,631			24,686					18,277			40,595
Income tax expense		180,212			169,310					310,287			351,742
Adjusted EBITDA		855,425			1,002,020					1,561,788			1,967,354
Adjusted EBITDA margin		26.3	%		24.8	%		%		25.2	%		25.4	%		%

All values are in US Dollars.

Note:

(1)	Adjusted basic and diluted net earnings per share are computed by dividing adjusted<br>net profit attributable to the equity shareholders of the Company by the number of ordinary shares used in the basic and diluted earnings<br>per share calculation on an IFRS basis.

MINISO GROUP HOLDING LIMITED

UNAUDITED ADDITIONAL INFORMATION

(Expressed in thousands, except for percentages)

	Three months ended June 30,								Six months ended June 30,
	2023		2024						2023		2024
	RMB’000		RMB’000		US’000	YoY			RMB’000		RMB’000		US’000	YoY
Revenue
Mainland China		2,137,422		2,525,064			18.1	%		4,290,654		5,026,729			17.2	%
–MINISO<br> Brand^(1)^		1,951,592		2,308,008			18.3	%		3,952,460		4,592,798			16.2	%
– TOP TOY Brand		172,965		214,952			24.3	%		310,867		428,772			37.9	%
–Others^(2)^		12,865		2,104			(83.6	)%		27,327		5,159			(81.1	)%
Overseas		1,114,760		1,510,148			35.5	%		1,915,676		2,732,014			42.6	%
		3,252,182		4,035,212			24.1	%		6,206,330		7,758,743			25.0	%

All values are in US Dollars.

Note:

(1)	“MINISO Brand” refers to the revenue generated from<br>MINISO brand including revenue from offline stores, e-commerce and others in mainland China.
(2)	“Others” refers to revenue generated from<br>other operating segments such as “WonderLife”, which was a secondary brand targeting on lower-tier cities in mainland China,<br>aggregated and presented as “others”. As the MINISO brand increasingly penetrated into lower-tier cities in mainland China,<br>“WonderLife” has become marginalized.
---	---

MINISOGROUP HOLDING LIMITED

UNAUDITEDADDITIONAL INFORMATION

NUMBER OF MINISO STORES IN MAINLAND CHINA

	As of
	June<br> 30,		December<br> 31,		June<br> 30,
	2023		2023		2024		YoY		YTD^(1)^
By City<br> Tiers
First-tier<br> cities		474		522		541		67		19
Second-tier<br> cities		1,496		1,617		1,705		209		88
Third<br> – or lower-tier cities		1,634		1,787		1,869		235		82
Total		3,604		3,926		4,115		511		189

Note:

(1) “YTD” refers to the period starting from January 1, 2024 to June 30, 2024.

MINISOGROUP HOLDING LIMITED

UNAUDITEDADDITIONAL INFORMATION

NUMBER OF MINISO STORES IN OVERSEAS MARKETS

	As of
	June<br> 30,		December<br> 31,		June<br> 30,
	2023		2023		2024		YoY		YTD^(1)^
By Regions
Asia<br> excluding China		1,206		1,333		1,484		278		151
North America		123		172		234		111		62
Latin America		492		552		584		92		32
Europe		198		231		244		46		13
Others		168		199		207		39		8
Total		2,187		2,487		2,753		566		266

Note:

(1) “YTD” refers to the period starting from January 1, 2024 to June 30, 2024.

Exhibit 99.3

Hong Kong Exchangesand Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make norepresentation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising fromor in reliance upon the whole or any part of the contents of this announcement.

MINISOGroup Holding Limited

名創優品集團控股有限公司

(Acompany incorporated in the Cayman Islands with limited liability)

(StockCode: 9896)

INTERIMRESULTS ANNOUNCEMENT

FORTHE SIX MONTHS ENDED JUNE 30, 2024 AND

CONNECTEDTRANSACTION

The board (the “Board”) of directors (the “Directors”) of MINISO Group Holding Limited (the “Company”) is pleased to announce the interim consolidated results of the Company and its subsidiaries (the “Group”) for the six months ended June 30, 2024 (the “Reporting Period”), together with the comparative figures for the corresponding period in 2023. These interim results have been reviewed by the audit committee of the Board (the “Audit Committee”).

In this announcement, “we”, “us”, “our” and “MINISO” refer to the Company and where the context otherwise requires, the Group.

FINANCIAL PERFORMANCE HIGHLIGHTS
	For the six months				Year-over-Year
	ended<br> June 30,				(“YoY”)
	2023		2024		Change<br> (%)
	(Renminbi (“RMB”)in thousands, except
	percentages and per<br> share data)
Revenue		6,206,330		7,758,743		25.0	%
Gross profit		2,457,392		3,389,786		37.9	%
Operating profit		1,265,941		1,494,809		18.1	%
Profit before taxation		1,328,205		1,529,121		15.1	%
Profit for the period		1,017,918		1,177,379		15.7	%
Profit for the period attributable to equity<br> shareholders of the Company		1,004,836		1,170,102		16.4	%
Adjusted net profit (a non-IFRS measure)		1,054,220		1,241,886		17.8	%
Adjusted net earnings per ordinary share (“Share”) (a non-IFRS measure)
– Basic (RMB)		0.84		0.99		17.9	%
– Diluted (RMB)		0.83		0.99		19.3	%
Adjusted EBITDA (a non-IFRS measure)		1,561,788		1,967,354		26.0	%

NON-IFRS FINANCIAL MEASURES

In evaluating the business, MINISO considers and uses adjusted net profit, adjusted EBITDA and adjusted basic and diluted net earnings per share as supplemental measures to review and assess its operating performance. The presentation of these non-IFRS financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with IFRS. MINISO defines adjusted net profit as profit for the period excluding equity-settled share-based payment expenses. MINISO defines adjusted EBITDA as adjusted net profit plus depreciation and amortization, finance costs and income tax expense. MINISO computes adjusted basic and diluted net earnings per share by dividing adjusted net profit attributable to the equity shareholders of the Company by the number of Shares used in the basic and diluted earnings per share calculation on an IFRS basis.

These non- IFRS financial measures should not be considered in isolation or construed as alternatives to profit, basic and diluted earnings per share, as applicable, or any other measures of performance or as indicators of MINISO’s operating performance. Investors are encouraged to review MINISO’s historical non-IFRS financial measures in light of the most directly comparable IFRS measures, as shown below. The non- IFRS financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting the usefulness of such measures when analyzing MINISO’s data comparatively. MINISO encourages you to review its financial information in its entirety and not rely on a single financial measure.

The following table reconciles our adjusted net profit and adjusted EBITDA, both non-IFRS measures, for the six months ended June 30, 2023 and 2024 to the most directly comparable financial measure calculated and presented in accordance with IFRS, which is profit for the period.

	For the six<br> months ended
	June 30,
	2023		2024
	(RMB in<br> thousands)
Profit for<br> the period		1,017,918		1,177,379
Add<br> back:
Equity-settled<br> share-based payment expenses		36,302		64,507
Adjusted net profit (a non-IFRS measure)		1,054,220		1,241,886
Add<br> back:
Depreciation and amortization		179,004		333,131
Finance costs		18,277		40,595
Income<br> tax expense		310,287		351,742
Adjusted EBITDA (a non-IFRS measure)		1,561,788		1,967,354

CHANGE OF FINANCIAL YEAR END DATE

On January 17, 2024, the Board announced that it has resolved to change the financial year end date of the Company from June 30 to December 31 with immediate effect. Accordingly, the accompanying interim financial information for the current interim financial period covers a period of six months from January 1, 2024 to June 30, 2024.

BUSINESS REVIEW AND OUTLOOK

Business Review for the ReportingPeriod

We are a global value retailer offering a variety of trendy lifestyle products featuring IP design. Since we opened our first store in mainland China in 2013, we have successfully incubated two brands – “MINISO” and “TOP TOY”. We have built our flagship brand “MINISO” as a globally recognized retail brand and established a store network worldwide. Our flagship brand “MINISO” offers a frequently-refreshed assortment of lifestyle products covering diverse consumer needs, and consumers are attracted to our products’ trendiness, creativeness, high quality and affordability.

During the six months ended June 30, 2024, the total number of MINISO stores in mainland China and overseas markets increased from 6,413 as of December 31, 2023 to 6,868 as of June 30, 2024. The number of TOP TOY stores increased from 148 as of December 31, 2023 to 195 as of June 30, 2024. For the six months ended June 30, 2024, the aggregate GMV of the Group reached approximately RMB14.5 billion.

Brands and Products

For the six months ended June 30, 2024, we launched an average of around 940 SKUs in “MINISO” channels per month, and we offered consumers a wide selection of around 10,100 core SKUs, the vast majority of which are under the “MINISO” brand. Our MINISO product offering spans across 11 major categories, including home decor, small electronics, textile, accessories, beauty tools, toys, cosmetics, personal care, snacks, fragrance and perfumes, stationery and gifts.

Under the “TOP TOY” brand, we offered around 9,800 SKUs as of June 30, 2024 across major categories such as blind boxes, toy bricks, model figures, model kits, collectible dolls, Ichiban Kuji and other popular toys.

Store Network

As of June 30, 2024, we served consumers primarily through a network of over 6,800 MINISO stores, including over 4,100 MINISO stores in mainland China and over 2,700 MINISO stores in overseas markets. The following table shows the number of MINISO stores in mainland China and overseas as of the dates presented:

	As<br> of June 30,
	2023		2024
Number of MINISO stores
Mainland China		3,604		4,115
Directly operated stores		15		29
Stores operated under MINISO Retail<br> Partner model		3,569		4,063
Stores operated under distributor<br> model		20		23
Overseas		2,187		2,753
Directly operated stores		176		343
Stores operated under MINISO Retail<br> Partner model		252		338
Stores operated<br> under distributor model		1,759		2,072
Total		5,791		6,868

We have also expanded our TOP TOY store network in mainland China. As of June 30, 2024, we had a total of 195 TOP TOY stores, all of which were located in mainland China.

	As<br> of June 30,
	2023		2024
Number of TOP TOY stores
Directly<br> operated stores		9		21
Stores<br> operated under MINISO Retail Partner model		109		174
Total		118		195

Store operations in mainland China

As of June 30, 2024, apart from 29 directly operated MINISO stores, 23 distributor MINISO stores and 21 directly operated TOP TOY stores, all of our other MINISO and TOP TOY stores in mainland China were operated under the MINISO Retail Partner model.

The following table shows the aggregate number of MINISO stores in mainland China for the periods indicated:

	For the six<br> months ended
	June 30,
	2023			2024
Directly operated<br> stores
Number<br> of stores at the beginning of the period		16			26
Number<br> of new stores opened during the period		2			7
Number<br> of closed stores during the period^(1)^		3			4
Net (decrease)/increase<br> in number of stores during the period		(1	)		3
Number<br> of stores at the end of the period		15			29
Stores operated under MINISO<br> Retail Partner model
Number<br> of stores at the beginning of the period		3,290			3,878
Number<br> of new stores opened during the period		333			326
Number<br> of closed stores during the period^(1)^		54			141
Net increase<br> in number of stores during the period		279			185
Number<br> of stores at the end of the period		3,569			4,063
Stores operated under distributor<br> model
Number<br> of stores at the beginning of the period		19			22
Number<br> of new stores opened during the period		1			1
Number<br> of closed stores during the period^(1)^		–			–
Net increase<br> in number of stores during the period		1			1
Number<br> of stores at the end of the period		20			23

Note:

(1)

The closure of MINISO stores was due to various reasons, such as expiration of store leases, increases in store rental, changes in the layout of shopping malls where the stores were located, unprofitableness of certain stores, and closure by MINISO Retail Partners for other considerations, as applicable***.*** For the six months ended June 30, 2020, 2021, 2022, 2023 and 2024, the overall store closure rate in mainland China were 3.6%, 3.5%, 2.6%, 1.6% and 3.6%, respectively, which were calculated as (a) number of closed stores during the relevant period in mainland China divided by (b) the average number of MINISO stores in mainland China at the beginning and the end of the relevant period.

Our ability to penetrate into various tiers of cities is evidenced by our proven track record of successfully penetrating into various lower-tier cities in mainland China despite our previous experience operating in mostly high-tier Chinese cities. The following table shows the aggregate number of MINISO stores in mainland China by city-tiers as of the dates indicated:

	As<br> of June 30,
	2023		2024
Number of MINISO stores in mainland China
First-tier cities		474		541
Second-tier cities		1,496		1,705
Third- or lower-tier cities		1,634		1,869
Total		3,604		4,115

For expansion of our MINISO store network in mainland China, our efforts will be focused on penetrating into lower-tier cities while expanding deeper into developed cities. For the six months ended June 30, 2024, the number of net new stores in first- and second-tier cities accounted for over 50%, indicating a stronger recovery in these cities.

Furthermore, we plan to focus on establishing and reinforcing the recognition of the TOP TOY brand and expanding our TOP TOY store network in first- and second-tier cities in mainland China while also expanding into lower-tier cities.

The MINISO Retail Partner model represents a mutually beneficial relationship between us and the MINISO Retail Partners, where we achieve rapid store network expansion with consistent brand image and consumer experience in an asset-light manner, and our MINISO Retail Partners attain attractive investment opportunities. Our MINISO Retail Partners are also motivated to maintain a loyal relationship with us. The following table shows the number of our MINISO Retail Partners in mainland China for the periods indicated:

	For the six months ended
	June 30,
	2023		2024
Number of MINISO Retail Partners at the beginning<br> of the period^(1)^		998		1,064
Number of new MINISO Retail Partners during the period		71		70
Number of terminated MINISO Retail Partners during the<br> period^(2)^		29		64
Net increase in number of MINISO Retail Partners during<br> the period		42		6
Number of MINISO Retail Partners<br> at the end of the period^(1)^		1,040		1,070

Notes:

(1)	Number<br> of MINISO Retail Partners at a given date is calculated based on the number of individuals<br> and entities with effective contractual relationships with us at that date.
(2)	The<br> number of terminated MINISO Retail Partners for the six months ended June 30, 2023 and<br> 2024 were 29 and 64, respectively. The increase in the number of terminated MINISO Retail<br> Partners for the six months ended June 30, 2024 was mainly due to our optimization of<br> MINISO Retail Partners structure, which reduced several long-tail MINISO Retail Partners.
---	---

As of June 30, 2024, there were 1,045 MINISO Retail Partners invested in MINISO stores in mainland China, and 605 of them had invested for over three years. We had one distributor for the MINISO brand in Tibet, China during the six months ended June 30, 2024. As of the date of this announcement, there has been no conversion of our collaboration partners in mainland China from a MINISO Retail Partner to a distributor, or vice versa.

The majority of our TOP TOY stores are operated under the MINISO Retail Partner model as well. Among the MINISO Retail Partners shown in the table above, we had 18 and 25 MINISO Retail Partners operating TOP TOY stores as of June 30, 2023 and 2024, respectively.

Store operations in overseas markets

We have adopted flexible store operation models, including direct operation, MINISO Retail Partner model and the distributor model as we expand our global footprints, depending on the growth potential, local regulation and other factors in the markets. In consideration of the evolving local regulatory requirements, market conditions and their operational needs, our overseas franchisees may sometimes convert from a MINISO Retail Partner to a distributor, or vice versa.

As of June 30, 2024, in overseas markets, there were 343 stores directly operated by us and 2,410 stores operated under the MINISO Retail Partner model and distributor model. The following table shows the aggregate number of MINISO stores in overseas markets for the periods indicated:

	For the six<br> months ended
	June 30,
	2023		2024
Directly operated stores
Number<br> of stores at the beginning of the period		153		238
Number<br> of new stores opened during the period		37		113
Number<br> of closed stores during the period^(1)^		14		8
Net increase<br> in number of stores during the period		23		105
Number<br> of stores at the end of the period		176		343
Stores operated under MINISO<br> Retail Partner model
Number<br> of stores at the beginning of the period		246		283
Number<br> of new stores opened during the period		24		64
Number<br> of closed stores during the period^(1)^		18		9
Net increase<br> in number of stores during the period		6		55
Number<br> of stores at the end of the period		252		338
Stores operated under distributor<br> model
Number<br> of stores at the beginning of the period		1,716		1,966
Number<br> of new stores opened during the period		158		153
Number<br> of closed stores during the period^(1)^		115		47
Net increase<br> in number of stores during the period		43		106
Number<br> of stores at the end of the period		1,759		2,072

Note:

(1)	The<br> closure of MINISO stores was due to various reasons, such as expiration of store leases,<br> increase in store rental, changes in the layout of shopping malls where the stores were located,<br> unprofitableness of certain stores, and closure by MINISO Retail Partners or distributors<br> for other considerations, as applicable.

The following table shows the aggregate number of MINISO stores in overseas markets by region as of the dates indicated:

	As<br> of June 30,
	2023		2024
Number of MINISO stores in overseas markets
Asia excluding China		1,206		1,484
North America		123		234
Latin America		492		584
Europe		198		244
Others		168		207
Total		2,187		2,753

In the majority of overseas markets, we expand our store network by collaborating with local distributors with abundant local resources and retail experiences. The following table shows the number of our distributors in overseas markets for the periods indicated:

	For the six months ended
	June 30,
	2023		2024
Number of distributors at the beginning of<br> the period^(1)^		212		230
Number of new distributors during the period^(2)^		17		16
Number of terminated distributors during the period^(2)^		–		17
Net increase/(decrease) in number of distributors during<br> the period		17		(1	)
Number of distributors at the end<br> of the period^(1)^		229		229

Notes:

(1)	Number<br> of distributors at a given date is calculated based on the number of individuals and entities<br> with effective contractual relationships with us at that date.
(2)	Change<br> of contracting entities by the same distributor is not taken into account in the calculation<br> of number of new or terminated distributors.
---	---

As of June 30, 2023 and 2024, we had 61 and 101 MINISO Retail Partners in overseas markets, respectively. The increase in the number of MINISO Retail Partners for the six months ended June 30, 2024 was primarily due to the increase in the number of MINISO Retail Partners in Indonesia.

Other Key Operating Data

The following tables set forth certain of our key operating data of MINISO stores in mainland China and overseas markets, respectively:

	For the six<br> months ended
	June 30,
	2023		2024
MINISO stores<br> in mainland China
Total<br> GMV^(1)^(RMB in millions)		6,140		7,097
Same-store^(2)^ GMV<br> Growth (%)		28.1		(1.7	)
Number<br> of transactions (in millions)		163.4		184.3
Sales<br> volume of SKUs (in millions)		461.8		486.4
Average<br> spending per transaction (RMB)		37.6		38.5
Average<br> selling price (RMB)		13.3		14.6

Notes:

(1)	Includes<br> GMV generated through MINISO offline stores and Online-to-Offline (“O2O”)<br> platforms.
(2)	Includes<br> stores that opened prior to January 1, 2023, remained open as of June 30, 2024<br> and closed for less than 30 days during both comparative periods.
---	---
	For the six<br> months ended
---	---	---	---	---	---
	June 30,
	2023		2024
MINISO stores in overseas<br> markets
Total<br> GMV (RMB in millions)		4,538		6,401
Asia<br> excluding China		1,777		2,353
North<br> America		457		844
Latin<br> America		1,730		2,383
Europe		321		527
Others		253		294
Same-store^(1)^ GMV<br> Growth (%)		32.1		16.3
Asia<br> excluding China		25.4		15.0
North<br> America		75.3		12.3
Latin<br> America		40.0		21.3
Europe		11.8		10.4
Others		6.0		(1.2	)

Note:

(1)	Includes<br> stores that opened prior to January 1, 2023, remained open as of June 30, 2024<br> and closed for less than 30 days during both comparative periods.

The following table sets forth the GMV of MINISO brand in mainland China through online channels for the periods indicated:

	For the six<br> months ended
	June 30,
	2023		2024
	(RMB in<br> millions)
MINISO<br> brand in mainland China
Total<br> GMV through online channels^(1)^		316		345

Note:

(1) Excludes GMV through O2O platforms which is counted as GMV through offline channels.

Our TOP TOY brand started operating in December 2020 in mainland China. For the six months ended June 30, 2024, TOP TOY brand achieved a total GMV of RMB625.4 million through multi-channels. The following table sets forth certain key operating data of TOP TOY stores for the periods indicated:

	For the six<br> months ended
	June 30,
	2023		2024
TOP TOY stores
Total<br> GMV (RMB in millions)		369		521
Same-store^(1)^ GMV<br> Growth (%)		23.2		13.6
Number<br> of transactions (in millions)		3.0		4.7
Sales<br> volume of SKUs (in millions)		5.8		8.9
Average<br> spending per transaction (RMB)		124.7		111.2
Average<br> selling price (RMB)		64.3		58.8

Note:

(1)	Includes<br> stores that opened prior to January 1, 2023, remained open as of June 30, 2024<br> and closed for less than 30 days during both comparative periods.

Recent Developments after the ReportingPeriod

Save as disclosed in this announcement, there were no other significant events that might affect us since the end of the Reporting Period and up to the date of this announcement.

Business Outlook

In spite of the uncertainties brought by the macro environment, looking forward to the second half of 2024, we will remain focused on our long-term strategic goals: delivering on our globalization strategy, expanding global supply chains, bolstering the strength of our product offerings and further optimizing our store network. Going forward, we expect to further grow our business by pursuing the following strategies.

Engaged in global competition, we will take cost advantages and product differentiation as key points. While sticking to our value-for-money proposition, we will continue to strengthen quality IP cooperation and offer high-quality products featuring IP design to make lifestyle products more fashionable and trendy.

In mainland China, we will keep expanding and upgrading our store network in accordance with the development of different tier cities, while exploring market opportunities for O2O channels, further penetrating into the major cities that we have already covered and seize the opportunities in lower-tier cities.

For overseas markets, we will further expand and optimize our store network by adopting a flexible operating model for each market, and will continue to expand our presence in strategic markets such as North America, Asia and Europe.

MANAGEMENT DISCUSSION AND ANALYSIS

	For the six months ended
	June 30,
	2023			2024
	(RMB in thousands)
Revenue		6,206,330			7,758,743
Cost of sales		(3,748,938	)		(4,368,957	)
Gross profit		2,457,392			3,389,786
Other income		3,624			12,698
Selling and distribution expenses		(917,966	)		(1,522,088	)
General and administrative expenses		(319,705	)		(418,573	)
Other net income		41,256			41,696
Reversal of credit loss/(credit loss) on trade and other receivables		4,788			(3,606	)
Impairment loss on non-current assets		(3,448	)		(5,104	)
Operating profit		1,265,941			1,494,809
Finance income		80,541			74,606
Finance costs		(18,277	)		(40,595	)
Net finance income		62,264			34,011
Share of profit of equity-accounted investees, net of tax		–			301
Profit before taxation		1,328,205			1,529,121
Income tax expense		(310,287	)		(351,742	)
Profit for the period		1,017,918			1,177,379
Profit for the period attributable to:
– Equity shareholders of the Company		1,004,836			1,170,102
– Non-controlling interests		13,082			7,277

Revenue

Our total revenue increased by 25.0% from RMB6,206.3 million for the six months ended June 30, 2023 to RMB7,758.7 million for the six months ended June 30, 2024, mainly attributable to an 18.8% year-over-year increase in average store count, and an around 7% same-store sales growth on group level.

Revenue from mainland China was RMB5,026.7 million for the six months ended June 30, 2024, increasing by 17.2% from RMB4,290.7 million for the six months ended June 30, 2023, primarily due to (i) an increase of 16.5% in revenue from MINISO’s offline stores in mainland China, which was primarily due to a 16.0% year-over-year growth in average store count, and the same-store sales were 98.3% of the prior year’s level, and (ii) an increase of 37.9% in revenue from TOP TOY, which was primarily powered by a strong same-store sales growth of 13.6% and a rapid growth in average store count.

Revenue from overseas markets was RMB2,732.0 million for the six months ended June 30, 2024, increasing by 42.6% from RMB1,915.7 million for the six months ended June 30, 2023, primarily due to an increase of 21.8% in average store count, coupled with a strong same-store sales growth of 16.3%. Revenue from overseas markets contributed 35.2% of the Company’s total revenue in the six months ended June 30, 2024, compared to 30.9% for the same period in 2023.

Cost of Sales

Our cost of sales increased by 16.5% from RMB3,748.9 million for the six months ended June 30, 2023 to RMB4,369.0 million for the six months ended June 30, 2024.

Gross Profit and Gross Margin

Our gross profit increased by 37.9% from RMB2,457.4 million for the six months ended June 30, 2023 to RMB3,389.8 million for the six months ended June 30, 2024, and gross margin increased from 39.6% to 43.7% for the same periods. The increase in gross margin was mainly driven by (i) higher revenue contribution from directly operated markets which accounted for 55.7% of revenue from overseas markets, compared to 45.7% in the same period of 2023, (ii) higher gross margin in mainland China contributed by newly launched products in relation to the Company’s execution of IP strategy and strategic brand upgrade of MINISO, and (iii) higher gross margin of TOP TOY due to a shift in product mix towards more profitable products..

Other Income

Our other income increased by 250.4% from RMB3.6 million for the six months ended June 30, 2023 to RMB12.7 million for the six months ended June 30, 2024, which was primarily due to an increase in income from depositary bank.

Selling and Distribution Expenses

Our selling and distribution expenses increased by 65.8% from RMB918.0 million for the six months ended June 30, 2023 to RMB1,522.1 million for the six months ended June 30, 2024. Excluding equity-settled share-based payment expenses, our selling and distribution expenses increased by 66.4 % from RMB889.8 million to RMB1,480.6 million for the same periods, which was primarily due to the Company’s investments into directly operated stores both in mainland China and overseas markets to pursue the future success of the Company’s business, especially in strategic overseas markets such as the U.S. market. As of June 30, 2024, the total number of directly operated stores in overseas markets was 343, nearly doubling such figure compared to a year ago. For the six months ended June 30, 2024, the revenue from directly operated stores increased 111.4%, while related expenses including rental and related expenses, depreciation and amortization expenses and payroll excluding share-based compensation expenses increased 82.7%. These new stores are expected to contribute more substantial sales in the second half of 2024. Promotion and advertising expenses increased 46.5% for the six months ended June 30, 2024, as a percentage of revenue stabilizing at around 3% in both comparative periods. Licensing expenses increased 24.2%, consistent with revenue growth. Logistics expenses increased 54.3%, reflecting the rising freight costs caused by the tension in international shipping during the six months ended June 30, 2024.

General and Administrative Expenses

Our general and administrative expenses increased by 30.9% from RMB319.7 million for the six months ended June 30, 2023 to RMB418.6 million for the six months ended June 30, 2024. Excluding equity-settled share-based payment expenses, our general and administrative expenses increased by 26.9% from RMB311.6 million to RMB395.6 million for the same periods, which was primarily due to the increase of personnel-related expenses in relation to the growth of the Company’s business.

Other Net Income

Our other net income was RMB41.7 million for the six months ended June 30, 2024, compared to other net income of RMB41.3 million for the six months ended June 30, 2023.

Impairment Loss on Non-current Assets

Our impairment loss on non-current assets was RMB3.4 million and RMB5.1 million for the six months ended June 30, 2023 and 2024, respectively. We recorded impairment loss on non-current assets of directly operated stores.

Operating Profit

As a result of the foregoing, our operating profit increased by 18.1% from RMB1,265.9 million for the six months ended June 30, 2023 to RMB1,494.8 million for the six months ended June 30, 2024.

Net Finance Income

Our net finance income decreased by 45.4% from RMB62.3 million for the six months ended June 30, 2023 to RMB34.0 million for the six months ended June 30, 2024, which was primarily due to a decrease in interest income as a result of decreased principal in bank deposits, and an increase in finance cost due to increased interest on lease liabilities.

Income Tax Expense

We recorded income tax expense of RMB351.7 million for the six months ended June 30, 2024, compared to RMB310.3 million for the six months ended June 30, 2023.

Profit for the Period

As a result of the foregoing, our profit for the period increased by 15.7% from RMB1,017.9 million for the six months ended June 30, 2023 to RMB1,177.4 million for the six months ended June 30, 2024.

Adjusted Net Profit (a non-IFRS measure)

Our adjusted net profit, which represents profit for the period excluding equity-settled share-based payment expenses, increased by 17.8% from RMB 1,054.2 million for the six months ended June 30, 2023 to RMB1,241.9 million for the six months ended June 30, 2024. Adjusted net profit included a net foreign exchange loss of RMB12.4 million for the six months ended June 30, 2024, compared to a net foreign exchange gain of RMB54.9 million for the six months ended June 30, 2023. Excluding net foreign exchange loss and gain, adjusted net profit would have increased 25.5% year over year.

Adjusted EBITDA (a non-IFRS measure)

Our adjusted EBITDA, which represents adjusted net profit plus depreciation and amortization, finance costs and income tax expense, increased by 26.0% from RMB 1,561.8 million for the six months ended June 30, 2023 to RMB1,967.4 million for the six months ended June 30, 2024.

Net Cash from Operating Activities and Free Cash Flow

Our net cash from operating activities increased by 4.9% year over year to RMB1,293.8 million for the six months ended June 30, 2024. Our capital expenditure was RMB302.8 million and free cash flow was RMB991.0 million for the six months ended June 30, 2024.

Current Ratio

Our current ratio was 2.4 as of June 30, 2024, compared to 2.3 as of December 31, 2023. The change in current ratio was primarily due to the increase in current portion of other investments and trade and other receivables.

OTHER INFORMATION ABOUT OUR FINANCIAL PERFORMANCE

Liquidity and Source of Funding

During the six months ended June 30, 2024, we funded our cash requirements principally through cash generated from our operations. As of June 30, 2024, our cash, cash equivalents, restricted cash, term deposits, and other investments recorded in current assets were RMB6,869.0 million (as of December 31, 2023: RMB6,887.0 million).

Significant Investments

We did not make or hold any significant investments during the six months ended June 30, 2024.

Material Acquisitions and Disposals

We did not have any material acquisitions or disposals of subsidiaries, consolidated affiliated entities or associated companies during the six months ended June 30, 2024.

Pledge of Assets

As of June 30, 2024, none of our Group’s assets was pledged.

Future Plans for Material Investments or Capital Assets

As of June 30, 2024, we did not have any detailed future plans for material investments or capital assets.

Gearing Ratio

As of June 30, 2024, our gearing ratio was 0.1%, calculated as loans and borrowings divided by total equity as of the end of the period and multiplied by 100%.

Foreign Exchange Risk

Our financial reporting currency is RMB and changes in foreign exchange rates can significantly affect our reported results and consolidated trends. In addition, our results of operations, including margins, are affected by the fluctuation in foreign exchange rates. Our international operations generate revenues primarily in U.S. dollars. Generally, a weakening of RMB against U.S. dollar has a positive effect on our results of operations, while a strengthening of RMB against U.S. dollar has the opposite effect. We have not used any derivative financial instruments to hedge exposure to such risk. To the extent that we need to convert U.S. dollars into RMB for our operations, appreciation of RMB against U.S. dollar would have an adverse effect on RMB amount we receive from the conversion. Conversely, if we decide to convert RMB into U.S. dollars for the purpose of making payments for dividends on our Shares or American Depositary Shares (“ADSs”) or for other business purposes, appreciation of U.S. dollar against RMB would have a negative effect on U.S. dollar amounts available to us.

Contingent Liabilities

Commitment of Tax Payments

In connection with the acquisition of land use right and the construction of the headquarters building in Guangzhou, Miniso (Guangzhou) Co., Ltd. (“MINISO Guangzhou”) entered into a letter of intent on November 26, 2020 with the local government of the district where our new headquarters building is located and committed to pay an aggregate amount of tax levies of no less than RMB965.0 million to the local government in Guangzhou for a five-year period starting from January 1, 2021, with RMB160.0 million in 2021, RMB175.0 million in 2022, RMB190.0 million in 2023, RMB210.0 million in 2024 and RMB230.0 million in 2025. If we fail to meet the committed amount for any of the five calendar years, MINISO Guangzhou will have to compensate for the shortfall.

We had met the commitments for the calendar years of 2021, 2022 and 2023 and therefore MINISO Guangzhou was not required to make any compensation to the local government. In March 2024, MINISO Guangzhou provided a performance guarantee of RMB210.0 million issued by a commercial bank to this local government in respect of the commitment of tax payments for the calendar year of 2024, which is valid from April 1, 2024 to March 31, 2025. The Directors have assessed that, based on the projection of and actual relevant taxes and surcharges paid and payable during the calendar year of 2024, we expect to be able to meet the commitment for the calendar year of 2024 and thus it is not probable that MINISO Guangzhou needs to make any compensation to the local government under the above performance guarantee. As such, no provision has been made in respect of this matter as of June 30, 2024.

Securities class action

In August 2022, a putative federal securities class action was filed against the Company and certain of its officers and Directors (“Defendants”), alleging that Defendants made misleading misstatements or omissions regarding the Company’s business operations and financials in violation of the Securities Act of 1933 and the Securities Exchange Act of 1934. The action is captioned In re MINISO Group Holding Limited SecuritiesLitigation, 1:22-cv-09864 (S.D.N.Y.). The lead plaintiff selection process was completed in November 2022 and an amended complaint was filed shortly thereafter. The court granted Defendants’ motion to dismiss in February 2024 with leave to amend. Plaintiffs filed a motion for reconsideration of the court’s decision in late March 2024, to which Defendants have timely responded. Decision on plaintiffs’ motion for reconsideration is pending. Because the case remains in its preliminary stage, Defendants are unable to predict the outcome of the action or estimate the potential losses, if any.

Capital Commitment

As of June 30, 2024, our capital commitment was RMB749.9 million, which was attributable to the construction of the headquarters building.

Employees and Remuneration

We had a total of 5,245 full-time employees as of June 30, 2024, including 2,400 in mainland China and 2,845 in certain overseas countries and regions. The following table sets forth the number of employees categorized by function as of June 30, 2024:

	Number of
Function	Employees
Product Development and Supply Chain Management		992
General and Administrative		518
Operations		3,090
Sales and Marketing		182
Technology		196
Business Development		163
Logistics		104
Total		5,245

Our total remuneration cost incurred for the six months ended June 30, 2024 was RMB685.5 million, while it was RMB441.6 million for the six months ended June 30, 2023.

The number of employees employed by the Company varies from time to time depending on needs and employees are remunerated based on industry practice. The remuneration policy and package of the Group’s employees are periodically reviewed. Apart from pension funds and in-house training programmes, discretionary bonuses, share awards and share options from the Company’s share incentive plan may be awarded to employees according to the assessment of individual performance.

CONNECTED TRANSACTION

On August 30, 2024, the Company, through its wholly-owned subsidiary, Miniso (Guangzhou), as the tenant, entered into a lease agreement (the “Lease Agreement”) with Miniso (Zhaoqing) Industrial Investment Co., Ltd. (名創優品(肇慶)產業投資有限公司) (“MINISO Zhaoqing”), as the landlord and a connected person of the Company, in relation to the lease of certain warehouses.

The principal terms of the Lease Agreement are summarized below:

Lease Agreement

Date	:	August 30,<br>2024
Premises	:	Numbers<br>2, 3 and 4 of first floor of Logistics and Distribution Centre, MINISO International Logistics Circle, 16 West Science and Technology<br>Street, Hi-Tech Industrial Development Zone, Zhaoqing City, Guangdong Province, PRC
Usage	:	Warehouse
Construction area	:	50,019.4 square metres
Term	:	For<br> a fixed term commencing from October 16, 2024 to December 31, 2027 (both days inclusive)
Rent and property management fee	:	Rent and property management fee are subject to progressive increment<br>each year at a fixed rate. The total rent and property management fee payable (inclusive of tax) during the term of the Lease Agreement<br>shall be in the range from RMB20.8 million to RMB25.5 million.
		The amount of rent shall be payable in accordance with the terms of the<br>Lease Agreement on a monthly basis and is expected to be satisfied by the internal resources of the Group.
		The rent and property management fee payable were determined after arm’s<br>length negotiation between the parties, based on the construction standards of the premise with reference to the prevailing market rate<br>and rental fee level of similar logistics and distribution centre for storage purpose (with similar size, land use, conditions and other<br>relevant attributes) in the vicinity of Hi-Tech Industrial Development Zone, Zhaoqing City.
Security deposit	:	A security deposit of RMB5.9 million which is equivalent<br>to three months of rent and property management fee (inclusive of tax) shall be payable by MINISO Guangzhou within 30 days of signing<br>the Lease Agreement.
		The deposit will be refunded after the lapse of the<br>term or the termination of the Lease Agreement in accordance with the terms therein.
Lease renewal	:	The current lease for Number 2 of the first floor of<br>Logistics and Distribution Centre (which will originally expire in December 2024) will be subject to early renewal and will form<br>part of subject of the Lease Agreement for administrative convenience.

Reasons for and benefits of entering into the Lease Agreement

The premises will provide the Group with additional space for the storage of goods and merchandise to satisfy the Group’s growing business demand. The location of the premises is close proximity to other existing warehouses leased by the Group and the leasing of the relevant warehouses from MINISO Zhaoqing offers the Group a high degree of tenancy stability. Entering into the Lease Agreement ensures the Group has sufficient space for business development, which will help the Group to improve logistics efficiency, lower business costs and avoid any potential adverse impact on the Group’s business from the administrative inconvenience arisen from frequent warehouse relocation or decentralized distribution of the Group’s warehouses.

The Lease Agreement was entered into on an arm’s length negotiations with reference to the prevailing market rents of the premises of comparable size, construction standards, location, facilities, conditions and use. The Lease Agreement also consolidated the leases of several premises on the same floor within the same building under one agreement for administrative convenience.

In light of the above, the Directors (including the independent non-executive Directors) are of the view that the Lease Agreement is entered into on normal commercial terms that are fair and reasonable, in the ordinary and usual course of business of the Company, and in the interests of the Company and its shareholders as a whole.

Listing Rules implications

Mr. Ye Guofu（“Mr. Ye”）is the chairman of the Board, an executive Director, the chief executive officer and a controlling shareholder of the Company and therefore a connected person of the Company under the Rules Governing the Listing of Securities in The Stock Exchange of Hong Kong Limited (the “Listing Rules”).

As MINISO Zhaoqing is an indirect wholly-owned subsidiary of YGF MC Limited which is wholly-owned by Mr. Ye, MINISO Zhaoqing is an associate of Mr. Ye and therefore also a connected person of the Company under the Listing Rules. Accordingly, the entering into of the Lease Agreement and the transaction contemplated thereunder constitute a connected transaction for the Company under Chapter 14A of the Listing Rules.

Pursuant to IFRS 16, the Group, as the lessee, shall recognise right-of-use assets under the Lease Agreement in the consolidated statement of financial position of the Group. The value of the right-of-use assets to be recognised at the lease commencement date by the Group in connection with the Lease Agreement is approximately RMB63.6 million. The recognition of a right-of-use asset in respect of the transaction will be regarded as an acquisition of asset under the definition of transaction set out in Rule 14.04(1)(a) of the Listing Rules and treated as an one-off connected transaction under Rule 14A.24(1) of the Listing Rules.

As one or more of the applicable percentage ratios under the Listing Rules in respect of the value of right-of-use assets of Lease Agreement exceed 0.1% but are less than 5%, the Lease Agreement is exempt from the independent shareholders’ approval requirement, but is subject to reporting, annual review and announcement requirements under Chapter 14A of the Listing Rules.

Mr. Ye has a material interest in the Lease Agreement and as a result, he has abstained from voting on the Board resolutions in relation to the Lease Agreement. Save as disclosed above, none of the Directors had a material interest in the matters contemplated therein nor was any of them required to abstain from voting on the relevant Board resolutions approving the Lease Agreement and the transactions contemplated thereunder.

Information of the parties

The Group: The Company was incorporated in the Cayman Islands on January 7, 2020, as an exempted company with limited liability under the Companies Law of the Cayman Islands. The principal activity of the Company is investment holding. The principal businesses of the Group are the retail and wholesale of lifestyle and pop toy products across the PRC, other parts of Asia, Americas, Europe and certain other countries.

MINISO Guangzhou: MINISO Guangzhou is a limited liability company established under the laws of the PRC on October 18, 2017 and an indirect wholly-owned subsidiary of the Company. It is principally engaged in the wholesale and retail of lifestyle products.

MINISO Zhaoqing: MINISO Zhaoqing is a limited liability company established under the laws of the PRC on April 20, 2018. It is an indirect wholly-owned subsidiary of YGF MC Limited which is wholly-owned by Mr. Ye. It is principally engaged in investing activities.

CORPORATE GOVERNANCE

The Board is committed to achieving high corporate governance standards. The Board believes that high corporate governance standards are essential in providing a framework for the Company to safeguard the interests of shareholders and to enhance corporate value and accountability.

Compliance with the Corporate Governance Code

We have complied with all the applicable code provisions of the Corporate Governance Code (the “Corporate Governance Code”) set forth in Part 2 of Appendix C1 to the Listing Rules during the six months ended June 30, 2024, save for the following.

Code provision C.2.1 of the Corporate Governance Code recommends, but does not require, that the roles of chairman of the Board and chief executive officer should be separate and should not be performed by the same individual.

The Company deviates from this code provision as we do not have a separate chairman and chief executive officer and Mr. Ye currently performs these two roles of the Company. Mr. Ye is our founder and has extensive experience in our business operations and management. The Board believes that vesting the roles of both chairperson and chief executive officer in the same person has the benefit of ensuring consistent leadership within our Group and enables more effective and efficient overall strategic planning for our Group. The Board considers that the balance of power and authority for the present arrangement will not be impaired and this structure will enable our Company to make and implement decisions promptly and effectively. The Board will continue to review and consider splitting the roles of chairman of the Board and the chief executive officer of our Company if and when it is appropriate taking into account the circumstances of the Group as a whole.

Compliance with the Model Code for Securities Transactions by Directors

The Company has adopted the Management Trading of Securities Policy (the “Code”), with terms no less exacting that the Model Code for Securities Transactions by Directors of Listed Issuers (the “Model Code”) as set out in Appendix C3 to the Listing Rules, as its own securities dealing code to regulate all dealings of securities by Directors and relevant employees in the Company and other matters covered by the Code.

Specific enquiry has been made of all the Directors and each of the Directors has confirmed that he/she has complied with the Code during the six months ended June 30, 2024.

Audit Committee

The Company has established the Audit Committee in compliance with Rule 3.21 of the Listing Rules and the Corporate Governance Code.

The Audit Committee comprises three independent non-executive Directors, namely Ms. XU Lili, Mr. ZHU Yonghua and Mr. WANG Yongping. Ms. XU Lili, being the chairwoman of the Audit Committee, is appropriately qualified as required under Rule 3.10(2) of the Listing Rules.

The primary duties of the Audit Committee are:

(a)	to monitor the integrity of our financial statements and our compliance with legal and regulatory requirements as they relate to our<br>financial statements and accounting matters;
(b)	to review the adequacy of our internal control over financial reporting; and
---	---
(c)	to review all related party transactions for potential conflict of interest situations and approving all<br>such transactions.
---	---

The Audit Committee has reviewed our unaudited interim financial information for the six months ended June 30, 2024. The Audit Committee has also discussed matters with respect to the accounting policies and practices adopted by the Company and internal control and financial reporting matters with senior management members of the Company.

In addition, the independent auditor of the Company, KPMG, has reviewed our unaudited interim financial information for the six months ended June 30, 2024 in accordance with Hong Kong Standard on Review Engagements 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”.

OTHER INFORMATION

Purchase, Sale or Redemption of the Company’s Listed Securities

During the six months ended June 30, 2024, the Company repurchased a total of 1,230,200 Shares at an aggregate consideration (including all the relevant expenses) of HK$40.3 million on The Stock Exchange of Hong Kong Limited (the “HKEx”) and a total of 254,600 ADSs at an aggregate consideration (including all the relevant expenses) of US$4.8 million on the New York Stock Exchange (the “NYSE”). As of the date of this announcement, the repurchased Shares and ADSs are pending cancellation, and would not receive any interim dividend.

Particulars of the repurchases made by the Company during the six months ended June 30, 2024 are as follows:

HKEx

					Aggregate
					consideration
	No. of		Price paid per Share		paid (including
	Shares		Highest	Lowest	all the relevant
Trading Month	repurchased		price	price	expenses)
			(HK)	(HK)	(HK’000)
January 2024		1,055,200
February 2024		175,000

All values are in US Dollars.

NYSE

					Aggregate
					consideration
	No. of		Price paid per Share		paid (including
	Shares		Highest	Lowest	all the relevant
Trading Month	repurchased		price	price	expenses)
			(US)	(US)	(US’000)
January 2024		1,018,400

All values are in US Dollars.

Save as disclosed above, neither the Company nor any of its subsidiaries purchased, sold or redeemed any of the Company’s securities listed on the HKEx or on the NYSE (including sale of treasury shares as defined under the Listing Rules) during the six months ended June 30, 2024. The Company did not hold any treasury shares (as defined under the Listing Rules) as of June 30, 2024.

Use of Proceeds from the Global Offering

On July 13, 2022, the Shares were listed on the Main Board of the HKEx. The net proceeds from the global offering were HK$482.1 million. As of June 30, 2024, there has been no change in the intended use of net proceeds as previously disclosed in the section headed “Future Plans and Use of Proceeds” in the prospectus of the Company dated June 30, 2022. The Company has fully utilized the residual amount of the net proceeds in accordance with such intended purposes within 48 months from the listing of its Shares on the HKEx as expected.

As of June 30, 2024, the Group had utilized the net proceeds as set out in the table below:

						Amount of net
					Unutilized	proceeds utilized	Amount of net
					amount as of	during the six	proceeds unutilized
	% of total			Amount of	December 31,	months ended	amount as of
Purpose	net proceeds			net Proceeds	2023	June 30, 2024	June 30, 2024
				(HK million)	(HK million)	(HK million)	(HK$ million)
Store network expansion and upgrade		25	%				–
Supply chain improvement and product development		20	%				–
Strengthen our technology capabilities		20	%				–
Invest in brand promotion and incubation		20	%				–
Capital expenditures, which may include, among others, acquisitions of, or investments in, businesses or assets that complement our business		5	%				–
Working<br> capital and general corporate purposes		10	%				–
Total		100	%				–

All values are in US Dollars.

Interim Dividend

On March 12, 2024, the Board approved the distribution of a special cash dividend in the amount of US$0.2900 per ADS or US$0.0725 per Share, which has been paid on April 9, 2024 for holders of Shares and April 12, 2024 for holders of ADSs. The aggregate amount of cash dividend paid was approximately US$90.5 million.

On August 30, 2024, the Board approved the distribution of an interim cash dividend in the amount of US$0.2744 per ADS or US$0.0686 per Share, to holders of ADSs and Shares of record as of the close of business on September 13, 2024, New York Time and Beijing/Hong Kong Time, respectively. The ex-dividend date will be September 12, 2024. The payment date is expected to be September 23, 2024 for holders of Shares and around September 27, 2024 for holders of ADSs. The aggregate amount of cash dividend to be paid is approximately US$85.5 million (RMB621.3 million at an exchange rate of RMB7.2672 to US$1.0000), which is approximately 50% of the Company’s adjusted net profit for the six months ended June 30, 2024 and will be distributed from additional paid-in capital and settled by a cash distribution.

For holders of Shares, in order to qualify for the interim dividend, all valid documents for the transfer of Shares accompanied by the relevant share certificates must be lodged for registration with the Company’s Hong Kong share registrar, Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen’s Road East, Wanchai, Hong Kong no later than 4:30 P.M. on September 13, 2024 (Beijing/Hong Kong Time).

Unaudited consolidated statement of profit or loss

(Expressed in thousands of Renminbi, except for per share data)

		For the six months ended
		June 30,
	Note	2023			2024
			RMB’000			RMB’000
Revenue	4		6,206,330			7,758,743
Cost of sales	5		(3,748,938	)		(4,368,957	)
Gross profit			2,457,392			3,389,786
Other income			3,624			12,698
Selling and distribution expenses	5		(917,966	)		(1,522,088	)
General and administrative expenses	5		(319,705	)		(418,573	)
Other net income	6		41,256			41,696
Reversal of credit loss/(credit loss) on trade and other<br> receivables			4,788			(3,606	)
Impairment loss on non-current assets			(3,448	)		(5,104	)
Operating profit			1,265,941			1,494,809
Finance income			80,541			74,606
Finance costs			(18,277	)		(40,595	)
Net finance income	7		62,264			34,011
Share of profit of equity-accounted investees, net of tax			–			301
Profit before taxation			1,328,205			1,529,121
Income tax expense	8		(310,287	)		(351,742	)
Profit for the period			1,017,918			1,177,379
Attributable to:
Equity shareholders of the Company			1,004,836			1,170,102
Non-controlling interests			13,082			7,277
Profit for the period			1,017,918			1,177,379
Earnings per share
Basic earnings per share (RMB)	9		0.81			0.94
Diluted earnings per share (RMB)	9		0.80			0.94

Unaudited consolidated statement of profit or loss and other comprehensiveincome

(Expressed in thousands of Renminbi)

	For the six months ended
	June 30,
	2023		2024
	RMB’000		RMB’000
Profit for the period		1,017,918		1,177,379
Items that may be reclassified subsequently to profit or loss:
Exchange differences on translation of financial statements of foreign operations		54,832		6,845
Other comprehensive income for the period		54,832		6,845
Total comprehensive income for the period		1,072,750		1,184,224
Attributable to:
Equity shareholders of the Company		1,057,099		1,178,043
Non-controlling interests		15,651		6,181
Total comprehensive income for the period		1,072,750		1,184,224

Unaudited consolidated statement of financial position

(Expressed in thousands of Renminbi)

		As at		As at
		December 31,		June 30,
	Note	2023		2024
		RMB’000		RMB’000
ASSETS
Non-current assets
Property, plant and equipment			769,306		1,047,687
Right-of-use assets			2,900,860		3,684,817
Intangible assets			19,554		12,333
Goodwill			21,643		21,247
Deferred tax assets			104,130		116,577
Other investments	10		90,603		106,102
Trade and other receivables	12		135,796		173,136
Term deposits			100,000		103,308
Interests in equity-accounted investees			15,783		14,814
			4,157,675		5,280,021
Current assets
Other investments	10		252,866		350,913
Inventories	11		1,922,241		1,949,849
Trade and other receivables	12		1,518,357		1,614,148
Cash and cash equivalents	13		6,415,441		6,233,089
Restricted cash			7,970		1,965
Term deposits			210,759		283,007
			10,327,634		10,432,971
Total assets			14,485,309		15,712,992

			As at		As at
			December 31,		June 30,
	Note		2023		2024
			RMB’000		RMB’000
EQUITY
Share capital		15(a)		95		95
Additional paid-in capital				6,331,375		5,543,845
Other reserves				1,114,568		1,260,576
Retained earnings				1,722,157		2,892,259
Equity attributable to equity shareholders of the Company				9,168,195		9,696,775
Non-controlling interests				23,022		28,006
Total equity				9,191,217		9,724,781
LIABILITIES
Non-current liabilities
Contract liabilities				40,954		39,299
Loans and borrowings				6,533		6,414
Other payables		14		12,411		32,786
Lease liabilities				797,986		1,481,836
Deferred income				29,229		37,480
				887,113		1,597,815
Current liabilities
Contract liabilities				324,028		344,422
Loans and borrowings				726		713
Trade and other payables		14		3,389,826		3,328,888
Lease liabilities				447,319		455,453
Deferred income				6,644		6,685
Current taxation				238,436		254,235
				4,406,979		4,390,396
Total liabilities				5,294,092		5,988,211
Total equity and liabilities				14,485,309		15,712,992

Unaudited consolidated statementof changes in equity

(Expressed in thousands of Renminbi)

	Attributable<br> to equity shareholders of the Company
	Share<br><br> capital			Additional<br><br> paid-in<br> capital			Merger<br><br> reserve		Treasury<br><br> shares			Share-based<br><br> payment<br> reserve		Translation<br><br> reserve		PRC<br><br> statutory<br> reserve		(Accumulated<br><br> losses)/retained<br> earnings			Total		Non-<br><br> controlling<br> interests		Total<br><br> equity
	RMB’000			RMB’000			RMB’000		RMB’000			RMB’000		RMB’000		RMB’000		RMB’000			RMB’000		RMB’000		RMB’000
Balance at January 1, 2023	****	95	****	****	8,015,885	****	****	117,912	****	(114,355	)	****	877,172	****	2,099	****	105,020	****	(1,196,403	)	****	7,807,425	****	1,602	****	7,809,027
Changes<br> in equity for the six months ended June 30, 2023
Profit<br> for the period		–			–			–		–			–		–		–		1,004,836			1,004,836		13,082		1,017,918
Other<br> comprehensive income for the period		–			–			–		–			–		52,263		–		–			52,263		2,569		54,832
Total<br> comprehensive income for the period		–			–			–		–			–		52,263		–		1,004,836			1,057,099		15,651		1,072,750
Offset<br> of accumulated losses		–			(730,898	)		–		–			–		–		–		730,898			–		–		–
Exercise<br> of share options and subscription of restricted share units		–	*		189			–		–			–		–		–		–			189		–		189
Cancellation<br> of shares		–	*		(30,305	)		–		30,305			–		–		–		–			–		–		–
Equity<br> settled share-based transactions		–			–			–		–			36,302		–		–		–			36,302		–		36,302
Balance at June 30, 2023	****	95	****	****	7,254,871	****	****	117,912	****	(84,050	)	****	913,474	****	54,362	****	105,020	****	539,331	****	****	8,901,015	****	17,253	****	8,918,268

* The amount was less than RMB1,000.

****	Attributable to equity shareholders of the Company																					****	****	****	****	****	****	****
****	Share capital		****	Additional paid-in capital		****	Merger reserve		Treasury shares		****	Share-based payment reserve		Translation reserve		PRC statutory reserve		Retained earnings		Total		****	Non- controlling interests		****	Total equity		****
****	RMB’000		****	RMB’000		****	RMB’000		RMB’000		****	RMB’000		RMB’000		RMB’000		RMB’000		RMB’000		****	RMB’000		****	RMB’000		****
Balance at January 1, 2024		95			6,331,375			117,912		(157,610	)		959,906		23,761		170,599		1,722,157		9,168,195			23,022			9,191,217
Changes in equity for the six months ended June 30, 2024
Profit<br> for the period		–			–			–		–			–		–		–		1,170,102		1,170,102			7,277			1,177,379
Other comprehensive<br> income for the period		–			–			–		–			–		7,941		–		–		7,941			(1,096	)		6,845
Total comprehensive<br> income for the period		–			–			–		–			–		7,941		–		1,170,102		1,178,043			6,181			1,184,224
Dividend<br> declared and paid to equity
shareholders<br> of the Company		–			(643,176	)		–		–			–		–		–		–		(643,176	)		–			(643,176	)
Dividend<br> declared and paid to non-controlling
interests		–			–			–		–			–		–		–		–		–			(1,612	)		(1,612	)
Exercise<br> of share options and subscription
of restricted<br> share units		–	*		468			–		–			–		–		–		–		468			–			468
Repurchase<br> of shares		–			–			–		(70,847	)		–		–		–		–		(70,847	)		–			(70,847	)
Cancellation<br> of shares		–	*		(144,407	)		–		144,407			–		–		–		–		–			–			–
Equity<br> settled share-based transactions		–			–			–		–			64,507		–		–		–		64,507			–			64,507
Acquisition<br> of non-controlling interests		–			(415	)		–		–			–		–		–		–		(415	)		415			–
Balance at June 30, 2024		95			5,543,845			117,912		(84,050	)		1,024,413		31,702		170,599		2,892,259		9,696,775			28,006			9,724,781

* The amount was less than RMB1,000.

Unaudited consolidated statement of cash flows

(Expressed in thousands of Renminbi)

	For the six months ended
	June 30,
	2023			2024
		RMB’000			RMB’000
Cash flows from operating activities
Cash generated from operations		1,474,268			1,649,204
Income tax paid		(241,494	)		(355,448	)
Net cash from operating activities		1,232,774			1,293,756
Cash flows from investing activities
Payment for purchases of property, plant,
equipment and intangible assets		(96,115	)		(302,784	)
Proceeds from disposal of property, plant and
equipment and intangible assets		3,587			3,166
Refund of prepayments		200,000			–
Payment for purchases of other investments		(3,230,511	)		(4,176,438	)
Proceeds from disposal of other investments		3,753,449			4,077,046
Placement of term deposits		(641,371	)		(256,855	)
Maturity of term deposits		95,212			181,299
Interest income		80,541			68,249
Investment income from other investments		27,521			18,360
Net cash from/(used in) investing activities		192,313			(387,957	)
Cash flows from financing activities
Proceeds from subscription of restricted share units and
exercise of share options		191			468
Payment of capital element and interest element of
lease liabilities		(175,750	)		(414,592	)
Payment for repurchase of shares		(608	)		(36,914	)
Dividends paid to equity shareholders of the Company		–			(643,176	)
Dividends paid to non-controlling interests		–			(1,612	)
Net cash used in financing activities		(176,167	)		(1,095,826	)
Net increase/(decrease) in cash and cash equivalents		1,248,920			(190,027	)
Cash and cash equivalents at the beginning of the period		5,186,601			6,415,441
Effect of movements in exchange rates on cash held		53,692			1,318
Cash and cash equivalents at the end of the period		6,489,213			6,226,732

Notes to the unaudited interim financial information

(Expressed in thousands of Renminbi, unless otherwise indicated)

1	Basisof preparation

This interim financial information has been prepared in accordance with the applicable disclosure provisions of the Listing Rules, including compliance with International Accounting Standard (“IAS”) 34, Interim financial reporting, issued by the International Accounting Standards Board (“IASB”). It was authorised for issue on August 30, 2024.

The interim financial information has been prepared in accordance with the same accounting policies adopted in the consolidated financial statements for the six months ended December 31, 2023, except for the accounting policy changes that are expected to be reflected in the 2024 annual financial statements. Details of any changes in accounting policies are set out in Note 2.

The preparation of an interim financial information in conformity with IAS 34 requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses on a year to date basis. Actual results may differ from these estimates.

This interim financial information contains condensed consolidated financial statements and selected explanatory notes. The notes include an explanation of events and transactions that are significant to an understanding of the changes in financial position and performance of the Group since the consolidated financial statements for the six months ended December 31, 2023. The condensed consolidated interim financial statements and notes thereon do not include all of the information required for a full set of financial statements prepared in accordance with IFRS Accounting Standards.

The interim financial information is unaudited, but has been reviewed by KPMG in accordance with Hong Kong Standard on Review Engagements 2410, Review of interim financialinformation performed by the independent auditor of the entity, issued by the Hong Kong Institute of Certified Public Accountants.

2	Changesin accounting policies

The IASB has issued a number of amendments to IFRS Accounting Standards that are first effective for the current accounting period of the Group. Of these, the following developments are relevant to the Group’s interim financial information:

·         Amendments to IAS 1: Classification of liabilities as current or non-current

·         Amendments to IAS 1: Non-current liabilities with covenants

·         Amendments to IAS 16: Lease liability in a sale and leaseback

·         Amendments to IAS 7 and IFRS 7: Supplier finance arrangements

None of these developments have had a material effect on how the Group’s results and financial position for the current or prior periods have been prepared or presented in this interim financial information. The Group has not applied any new standard or interpretation that is not yet effective for the current accounting period.

3	Segment reporting

The Group manages its businesses by divisions, which are organized by a mixture of both brands and geography. In a manner consistent with the way in which information is reported internally to the Group’s most senior executive management for the purposes of resource allocation and performance assessment, the Group has presented two reportable segments of MINISO brand and TOP TOY brand for the six months ended June 30, 2024 and 2023.

Other operating segments have been aggregated and presented as “other segment”. Business included as other segment did not meet the quantitative thresholds for reportable segments for the six months ended June 30, 2024 and 2023. The segment information is as follows:

Reportable segments	Operations
MINISO brand	Design, buying and sale of lifestyle products
TOP TOY brand	Design, buying and sale of pop toys
(i)	Segment results, assets and liabilities
---	---

Information related to each reportable segment is set out below. Segment profit/(loss) before taxation is used to measure performance because management believes that this information is the most relevant in evaluating the results of the respective segments.

	As at and for the six months ended June 30, 2023
	Reportable segments
	MINISO<br> brand			TOP TOY<br> brand			Total<br> reportable<br> segments			Other<br> segment			Total
	RMB’000			RMB’000			RMB’000			RMB’000			RMB’000
External revenues		5,868,136			310,867			6,179,003			27,327			6,206,330
Inter-segment revenue		–			4,582			4,582			222,210			226,792
Segment revenue		5,868,136			315,449			6,183,585			249,537			6,433,122
Segment profit before taxation		1,313,976			15,932			1,329,908			5,084			1,334,992
Finance income		77,126			489			77,615			1,587			79,202
Finance costs		(16,132	)		(2,141	)		(18,273	)		(4	)		(18,277	)
Depreciation and amortization		(139,730	)		(32,312	)		(172,042	)		(2,295	)		(174,337	)
Other material non-cash items:
– reversal of credit loss on trade and other receivables		3,102			295			3,397			1,391			4,788
– impairment loss on non-current assets		(1,433	)		(2,015	)		(3,448	)		–			(3,448	)
Segment assets		10,573,747			361,397			10,935,144			190,366			11,125,510
Additions to non-current assets during the period*		558,664			13,287			571,951			2,613			574,564
Segment liabilities		3,970,288			493,044			4,463,332			43,699			4,507,031

	As at and for the six months ended June 30, 2024
	Reportable segments
							Total
	MINISO			TOP TOY			reportable			Other
	brand			brand			segments			segment			Total
	RMB’000			RMB’000			RMB’000			RMB’000			RMB’000
External revenues		7,324,665			428,920			7,753,585			5,158			7,758,743
Inter-segment revenue		6,804			5,648			12,452			278,467			290,919
Segment revenue		7,331,469			434,568			7,766,037			283,625			8,049,662
Segment profit before taxation		1,500,294			32,569			1,532,863			1,376			1,534,239
Finance income		71,942			702			72,644			1,515			74,159
Finance costs		(38,343	)		(2,252	)		(40,595	)		–			(40,595	)
Depreciation and amortization		(292,802	)		(33,053	)		(325,855	)		(2,598	)		(328,453	)
Other material non-cash items:
– credit loss on trade and other receivables		(3,155	)		(432	)		(3,587	)		(19	)		(3,606	)
– impairment loss on non-current assets		(3,752	)		(1,352	)		(5,104	)		–			(5,104	)
Segment assets		12,626,302			550,286			13,176,588			177,551			13,354,139
Additions to non-current assets during the period*		1,313,165			58,473			1,371,638			710			1,372,348
Segment liabilities		5,478,947			366,821			5,845,768			52,986			5,898,754

Note:

*	The additions to non-current assets do not include additions to deferred tax assets, non-current trade<br>and other receivables, non-current other investments, non-current term deposits and interests in equity-accounted investees.
(ii)	Reconciliations of information on reportable segments to the amounts reported in the financial statements
---	---
	For the six months ended
---	---	---	---	---	---	---
	June 30,
	2023			2024
	RMB’000			RMB’000
i. Revenue
Total revenue for reportable segments		6,183,585			7,766,037
Revenue for other segment		249,537			283,625
Elimination of inter-segment revenue		(226,792	)		(290,919	)
Consolidated revenue		6,206,330			7,758,743
ii. Profit before taxation
Total profit before taxation for reportable segments		1,329,908			1,532,863
Profit before taxation for other segment		5,084			1,376
Unallocated amounts:
– Expenses relating to construction of headquarters building and depreciation expense of apartments for use as staff quarters		(6,787	)		(5,118	)
Consolidated profit before taxation		1,328,205			1,529,121

	As at December 31,		As at June 30,
	2023		2024
	RMB’000		RMB’000
iii. Assets
Total assets for reportable segments		11,947,983		13,176,588
Assets for other segment		191,275		177,551
Other unallocated amounts
– Assets relating to construction of headquarters building		2,107,557		2,124,405
– Assets relating to operation of apartments for use as staff quarters		238,494		234,448
Consolidated total assets		14,485,309		15,712,992
iv. Liabilities
Total liabilities for reportable segments		5,177,447		5,845,768
Liabilities for other segment		41,403		52,986
Other unallocated amounts
– Liabilities relating to construction of headquarters building		75,242		89,457
Consolidated total liabilities		5,294,092		5,988,211

v. Other material items

	For the six months ended June 30, 2023
	Reportable
	segment			Other			Unallocated			Consolidated
	totals			segment			amounts			totals
		RMB’000			RMB’000			RMB’000			RMB’000
Finance income		77,615			1,587			1,339			80,541
Finance costs		(18,273	)		(4	)		–			(18,277	)
Depreciation and amortization		(172,042	)		(2,295	)		(4,667	)		(179,004	)
Reversal of credit loss on trade and other receivables		3,397			1,391			–			4,788
Impairment loss on non-current assets		(3,448	)		–			–			(3,448	)
	For the six months ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---
	Reportable
	segment			Other			Unallocated			Consolidated
	totals			segment			amount			totals
	RMB’000			RMB’000			RMB’000			RMB’000
Finance income		72,644			1,515			447			74,606
Finance costs		(40,595	)		–			–			(40,595	)
Depreciation and amortization		(325,855	)		(2,598	)		(4,678	)		(333,131	)
Credit loss on trade and other receivables		(3,587	)		(19	)		–			(3,606	)
Impairment loss on non-current assets		(5,104	)		–			–			(5,104	)

(iii)	Geographic information

The geographic information analyses the Group’s revenue and non-current assets by the Group’s country of domicile and other regions. In presenting the geographic information, segment revenue has been based on the geographic location of customers and segment assets are based on the geographic location of the assets.

	For the six months ended
	June 30,
	2023		2024
		RMB’000		RMB’000
i. Revenue
Mainland China		4,290,654		5,026,729
Asia excluding China		862,233		1,116,364
Americas		925,984		1,363,319
Europe		75,032		140,334
Others		52,427		111,997
		6,206,330		7,758,743
	As at December 31,		As at June 30,
---	---	---	---	---
	2023		2024
		RMB’000		RMB’000
ii. Non-current assets
Mainland China		2,906,878		3,154,287
Asia excluding China		166,623		281,603
Americas		644,765		1,363,737
Europe		83,246		62,961
Others		45,647		76,632
		3,847,159		4,939,220

Non-current assets exclude deferred tax assets, non-current other investments, non-current term deposits and interests in equity-accounted investees.

4	Revenue

The Group’s revenue is primarily derived from the sale of lifestyle and pop toy products through directly operated stores, franchised stores, offline distributors and online sales conducted through the Group’s self-operated online stores on WeChat Mini Program, third-party e-commerce platforms and through online distributors. Other sources of revenue mainly include license fees, sales-based royalties and sales-based management and consultation service fees from franchisees and distributors.

(i)	Disaggregation of revenue

In the following table, revenue from contracts with customers is disaggregated by major products and service lines and timing of revenue recognition.

	For the six months ended
	June 30,
	2023		2024
		RMB’000		RMB’000
Major products/service lines
– Sales of lifestyle and pop toy products
– Retail sales in directly operated stores		570,420		1,205,709
– Product sales to franchisees		3,422,780		3,995,768
– Sales to offline distributors		1,231,602		1,395,170
– Online sales		331,895		402,688
– Other sales channels		45,827		29,745
Sub-total		5,602,524		7,029,080
– License fees, sales-based royalties, and sales-based management and consultation service fees
– License fees		36,423		34,215
– Sales-based royalties		58,844		75,098
– Sales-based management and consultation service fees		288,473		328,704
Sub-total		383,740		438,017
– Others*		220,066		291,646
		6,206,330		7,758,743
Timing of revenue recognition
– Point in time		5,758,203		7,314,994
– Over time		448,127		443,749
Revenue from contracts with customers		6,206,330		7,758,743

Note:

*	Others mainly represented sales of fixtures to franchisees and distributors and membership fee income.

For the six months ended June 30, 2024, the Group did not have any customer with revenue exceeding 10% of the Group’s total revenue (six months ended June 30, 2023: none).

(ii)	Seasonality of operations

The Group’s business is subject to seasonal fluctuation, typically with relatively stronger performance in the quarters ended September 30 and December 31, which is mainly due to the higher retail demand in holiday seasons in certain regions. As a result, the Group typically reports lower revenues for the six months ended June 30 than the six months ended December 31.

5	Expenses by nature
	For the six months ended
---	---	---	---	---
	June 30,
	2023		2024
		RMB’000		RMB’000
Cost of inventories (Note 11(a))		3,663,250		4,256,426
Payroll and employee benefits		441,618		685,492
Rental and related expenses		48,688		113,395
Depreciation and amortization		179,004		333,131
Licensing expenses		147,461		183,158
Promotion and advertising expenses		168,732		247,158
Logistics expenses		149,061		225,974
Travelling expenses		34,686		55,950
Other expenses		154,109		208,934
Total cost of sales, selling and distribution expenses and general and administrative expenses		4,986,609		6,309,618
6	Other net income
---	---
	For the six months ended
---	---	---	---	---	---	---
	June 30,
	2023			2024
		RMB’000			RMB’000
Net foreign exchange gain/(loss)		54,906			(12,392	)
Losses on disposal of property, plants and equipment and intangible assets		(2,554	)		(892	)
Investment income from other investments		27,521			18,360
Scrap income		5,554			5,352
Net change in fair value of other investments		(7,532	)		14,154
(Provision)/reversal of litigation compensation		(35,847	)		300
(Losses)/gains relating to cancellation and modification of lease contracts		(1,367	)		9,578
Gain on disposal of a subsidiary		–			8,759
Others		575			(1,523	)
		41,256			41,696

7	Net finance income
	For the six months ended
---	---	---	---	---	---	---
	June 30,
	2023			2024
		RMB’000			RMB’000
Finance income
– Interest income		80,541			74,606
Finance costs
– Interest on loans and borrowings		(110	)		(120	)
– Interest on lease liabilities		(18,167	)		(40,475	)
		(18,277	)		(40,595	)
Net finance income		62,264			34,011
8	Income taxes
---	---
(a)	Taxation recognized in consolidated profit or loss:
---	---
	For the six months ended
---	---	---	---	---	---
	June 30,
	2023		2024
		RMB’000		RMB’000
Amounts recognized in consolidated profit or loss
Current tax
Provision for the period		304,282		364,138
Deferred tax
Origination and reversal of temporary differences		6,005		(12,396	)
Tax expense		310,287		351,742
(b)	Reconciliation between actual tax expense and accountingprofit at applicable tax rates:
---	---
	For the six months ended
---	---	---	---	---	---	---
	June 30,
	2023			2024
		RMB’000			RMB’000
Profit before taxation		1,328,205			1,529,121
Notional tax on profit before taxation, calculated at the rates applicable to profits in the jurisdictions concerned		335,282			390,545
Tax effect of share-based payment expenses		9,009			15,126
Tax effect of other non-deductible expenses		4,855			9,677
Effect of preferential tax treatments on assessable profits of certain subsidiaries		(33,696	)		(50,670	)
Tax effect of exempted and non-taxable income		(3,069	)		(5,957	)
Effect of deductible temporary differences and unused tax losses not recognized/(utilized)		2,123			(1,171	)
Others		(4,217	)		(5,808	)
Actual tax expenses		310,287			351,742

9	Earnings per share
(a)	Basic earnings per share
---	---

For the six months ended June 30, 2024, the calculation of basic earnings per share was based on the profit attributable to ordinary equity shareholders of the Company of RMB1,170,102,000 (six months ended June 30, 2023: RMB1,004,836,000) and the weighted average number of ordinary shares outstanding of 1,242,154,721 shares (six months ended June 30, 2023: 1,244,510,782 shares), which were calculated as follows:

	For the six months ended
	June 30,
	2023		2024
	Number		Number
	of shares		of shares
Issued ordinary shares at January 1, 2023 and 2024		1,244,176,451		1,243,332,789
Effect of shares released from the exercise of share options and subscription of<br> restricted share units		334,331		769,834
Effect of repurchase of shares (Note 15(b))		–		(1,947,902	)
Weighted average number of ordinary shares outstanding		1,244,510,782		1,242,154,721
(b)	Diluted earnings per share
---	---

Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all potential dilutive ordinary shares.

For the six months ended June 30, 2024, the calculation of diluted earnings per share were based on the profit attributable to ordinary equity shareholders of the Company of RMB1,170,102,000 (six months ended June 30, 2023: RMB1,004,836,000) and the weighted average number of ordinary shares of 1,247,504,123 shares (six months ended June 30, 2023: 1,250,102,079 shares), after adjusting by the dilutive effect of share incentive plan, calculated as follows:

	For the six months ended
	June 30,
	2023		2024
	Number		Number
	of shares		of shares
Weighted average number of ordinary shares, basic		1,244,510,782		1,242,154,721
Dilutive effect of share incentive plan		5,591,297		5,349,402
Weighted average number of ordinary shares, diluted		1,250,102,079		1,247,504,123

10	Other investments
	As at December 31,		As at June 30,
---	---	---	---	---
	2023		2024
	RMB’000		RMB’000
Financial assets measured at FVTPL:
Non-current
– Investment in an unlisted limited partnership enterprise		90,603		106,102
Current
– Investments in trust investment schemes		202,866		200,913
– Investments in wealth management products		50,000		50,000
– Investment in structured deposit		–		100,000
		252,866		350,913
11	Inventories
---	---
	As at December 31,		As at June 30,
---	---	---	---	---
	2023		2024
	RMB’000		RMB’000
Finished goods		1,917,133		1,939,192
Low-value consumables		5,108		10,657
		1,922,241		1,949,849
(a)	The analysis of the amount of inventories recognized as an expense and included in profit or lossis as follows:
---	---
	For the six months ended
---	---	---	---	---	---
	June 30,
	2023			2024
	RMB’000			RMB’000
Carrying amount of inventories sold		3,679,130			4,226,389
(Reversal of write-down)/write down of inventories		(15,880	)		30,037
Cost of inventories recognized in consolidated statements of profit or loss		3,663,250			4,256,426

12	Trade and other receivables
	As at December 31,			As at June 30,
---	---	---	---	---	---	---
	2023			2024
	RMB’000			RMB’000
Non-current
Trade receivables		18,045			18,470
Less: loss allowance		(433	)		(393	)
Trade receivables, net of loss allowance (ii)		17,612			18,077
Amounts due from related parties		10,760			12,637
Deposits		81,153			109,742
Value-added tax (“VAT”) recoverable		26,271			32,680
		135,796			173,136
Current
Trade receivables		504,938			559,826
Less: loss allowance		(78,001	)		(70,846	)
Trade receivables, net of loss allowance		426,937			488,980
Amounts due from related parties		27,836			33,265
Miscellaneous expenses paid on behalf of franchisees		336,497			388,180
VAT recoverable		251,162			187,785
Rental deposits		98,141			97,948
Other deposits		6,453			20,270
Receivables due from banks and on-line payment platforms (iii)		103,406			97,353
Prepayments for inventories		51,084			41,442
Prepayments for licensing expenses		43,996			92,475
Prepayments for promotion and advertising expenses		11,577			22,238
Prepayments for repurchase of shares		87,324			53,391
Prepaid income tax		31,131			37,039
Others		42,813			53,782
		1,518,357			1,614,148
Notes:
---
(i)	All of trade and other receivables classified as current portion are expected to be recovered or recognized<br>as expense within one year.
---	---
(ii)	Trade receivables relating to certain sales of fixtures to franchisees are collected by installments within<br>the periods ranging from 29 to 34 months and the portion which is expected to be recovered after one year are classified as non-current.<br>All other trade debtors are due within 30 to 180 days from the date of revenue recognition for domestic and overseas customers respectively.
---	---

As of the end of each reporting period, the aging analysis of trade receivables, based on the invoice date and net of loss allowance, is as follows:

	As at December 31,		As at June 30,
	2023		2024
	RMB’000		RMB’000
Non-current portion
Within 90 days		11,187		2,171
91 to 180 days		6,425		4,613
181 to 360 days		–		11,293
		17,612		18,077
Current portion
Within 90 days		367,560		426,881
91 to 180 days		51,516		40,891
181 to 360 days		7,327		19,348
361 to 540 days		229		1,752
Over 540 days		305		108
		426,937		488,980
(iii)	Receivables due from banks and on-line payment platforms mainly represented the amounts due from banks<br>for offline sales made through customer credit/debit cards and other online payment platforms that require overnight processing by the<br>collection banks. The amounts also included the proceeds of online sales through e-commerce platforms collected by and retained in third-party<br>online payment platforms. Withdrawal of the balances retained<br>in online payment platforms could be made anytime upon the Group’s instructions.
---	---
13	Cash and cash equivalents
---	---
Cash and cash equivalents comprise:
---
	As at December 31,		As at June 30,
---	---	---	---	---	---
	2023		2024
	RMB’000		RMB’000
Cash on hand		783		1,675
Cash at bank		6,414,658		6,231,414
Cash and cash equivalents as presented in the consolidated statements of financial position		6,415,441		6,233,089
Accrued interest on fixed deposits with banks with original maturity within three months		–		(6,357	)
Cash and cash equivalents as presented in the consolidated statements of cash flows		6,415,441		6,226,732

14	Trade and other payables
	As at December 31,		As at June 30,
---	---	---	---	---
	2023		2024
	RMB’000		RMB’000
Non-current
Payable relating to construction projects		12,411		32,786
Current
Trade payables (i)		855,914		754,472
Payroll payable		166,079		109,162
Accrued expenses		309,951		318,173
Other taxes payable		43,850		55,038
Deposits		1,782,181		1,834,471
Payable relating to leasehold improvements		59,653		67,759
Payable relating to construction projects		33,051		26,918
Amounts due to related parties		7,334		8,170
Others		131,813		154,725
		3,389,826		3,328,888
Note:
---
(i)	Aging analysis of trade payables
---	---
	As of the end of reporting period, the aging analysis of<br>trade payables, based on the invoice date, is as follows:
	As at December 31,		As at June 30,
---	---	---	---	---
	2023		2024
	RMB’000		RMB’000
Within 1 month		795,416		665,185
1 to 3 months		42,183		67,790
3 months to 1 year		8,296		14,498
Over 1 year		10,019		6,999
		855,914		754,472

15	Capital and reserves
(a)	Share capital and additional paid-in capital
---	---

Analysis of the Company’s issued shares including treasury shares reserved for the share incentive plan, is as follows:

	Number of ordinary shares
	Outstanding			Treasury			Total
	shares			shares			issued shares			Share capital
										RMB’000
As at January 1, 2024		1,243,332,789			20,356,896			1,263,689,685			95
Exercise of share options and subscription of restricted share<br> units (i)		1,685,652			(1,685,652	)		–			–	*
Repurchase of shares (Note 15(b))		(2,248,600	)		2,248,600			–			–
Cancellation of shares (Note 15(b))		–			(4,407,108	)		(4,407,108	)		–	*
As at June 30, 2024		1,242,769,841			16,512,736			1,259,282,577			95
*	The amount was less than RMB1,000.
---	---
Note:
---
(i)	During the six months ended June 30, 2024, 1,685,652 of restricted share units and share options<br>were vested and exercised, and were thus released from treasury shares into outstanding shares.
---	---

(b)	Repurchase and cancellation of shares

On September 15, 2023, the board of directors authorized a share repurchase program under which the Company may repurchase up to USD200 million of its shares within a period of 12 months starting from September 15, 2023 (the “2023 Share Repurchase Program”).

During the six months ended June 30, 2024, the Company repurchased ordinary shares under the 2023 Share Repurchase Program as follows, and the cost of these shares held by the Group was recorded in treasury shares:

	Shares repurchased on the New York Stock Exchange
	Number of		Highest					Highest		Lowest		Aggregate
	shares		price paid					price paid		price paid		purchase
Month	repurchased		per share					per share		per share		price paid
						’000			HKD		HKD		HKD’000
January 2024		1,018,400		5.00	4.28	4,845	1,055,200		33.45		31.00		34,357
February 2024		–		–	–	–	175,000		34.00		33.70		5,939
Total		1,018,400				4,845	1,230,200						40,296
Equivalent to RMB’000						34,286							36,561

All values are in US Dollars.

Under the 2023 Share Repurchase Program, 1,938,600 shares repurchased on the Hong Kong Stock Exchange and 2,468,508 shares repurchased on the New York Stock Exchange were cancelled as at June 30, 2024.

(c)	Dividends

During the six months ended June 30, 2024, special cash dividends of USD0.0725 per ordinary share, amounting to USD90,635,000 (equivalent to RMB643,176,000), were declared and paid by the Company. The dividends were distributed from additional paid-in capital.

Interim cash dividends of USD0.0686 per ordinary share, amounting to approximately USD85.5 million, were proposed and approved by the board of directors of the Company on August 30, 2024. The dividends will be distributed from additional paid-in capital and have not been recognized as liabilities as of June 30, 2024.

PUBLICATION OF THE INTERIM RESULTS ANNOUNCEMENT AND INTERIM REPORT

This interim results announcement is published on the websites of the HKEx at http://www.hkexnews.hk and the Company at ir.miniso.com. The interim report of the Company for the six months ended June 30, 2024 will be made available for review on the above websites in due course.

By order of the Board
MINISO Group Holding Limited
Mr. YE Guofu
Executive Director and Chairman

Hong Kong, August 30, 2024

As of the date of this announcement, the Boardcomprises Mr. YE Guofu as executive Director, Ms. XU Lili, Mr. ZHU Yonghua and Mr. WANG Yongping as independent non-executiveDirectors.

Exhibit99.4

MINISO Announces HKD2 Billion Share RepurchaseProgram

GUANGZHOU, China, Aug 30, 2024 /PRNewswire/ -- MINISO Group Holding Limited (NYSE: MNSO; HKEX: 9896) ("MINISO", "MINISO Group" or the "Company", together with its subsidiaries, the “Group”), a global value retailer offering a variety of trendy lifestyle products featuring IP design, today announced that, the board of directors of the Company (the "Board") authorized and approved a new share repurchase program on August 30, 2024 (the "2024 Share Repurchase Program"), under which the Company may repurchase up to HKD2 billion in value of its outstanding ordinary shares and/or American depositary shares representing its ordinary shares (collectively, the "Shares") over a period of 12 months starting from the approval date. The Company expects to fund the repurchases under the 2024 Share Repurchase Program from surplus cash on its balance sheet.

The Board has full confidence in the Company’s business outlook and prospects, and believes that the current share price of the Company has been below its intrinsic value. By implementing the 2024 Share Repurchase Program, the Company aims to promote the interests of its shareholders (“Shareholders”), balance the Group’s fast growth and its commitment to bringing stable and foreseeable return to Shareholders.

The Company's proposed repurchases under the 2024 Share Repurchase Program may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades, and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations.

The Company shall conduct the repurchases by exercising its powers under the repurchase mandate granted or to be granted to the Board pursuant to the resolutions of the Shareholders passed at the annual general meeting of the Company each year to repurchase the Shares not exceeding 10% of the total number of the issued Shares (excluding any treasury Shares) as at the date of such annual general meeting (the "Share Repurchase Mandate"), with each mandate to expire upon whichever is the earliest of: (a) the conclusion of the next annual general meeting of the Company; (b) the expiration of the period within which the next annual general meeting of the Company is required by the memorandum and articles of the association of the Company or by any applicable laws to be held; and (c) the date on which the authority given under the ordinary resolution approving the Share Repurchase Mandate is revoked or varied by an ordinary resolution of the Shareholders.

During the period from August 30, 2024 to the date of holding the upcoming annual general meeting of the Company in 2025, the Company will conduct the repurchases under the Share Repurchase Mandate granted by the Shareholders on June 20, 2024, and for the remaining period under the 2024 Share Repurchase Program, the Company will conduct the repurchases under the Share Repurchase Mandate to be granted by the Shareholders at the upcoming annual general meeting of the Company, subject to the approval of the Shareholders and the general mandate conditions as specified above. It is the intention of the Board to implement the 2024 Share Repurchase Program during the 12-month period only in such a way and only to such an extent that would not cause a mandatory general offer obligation to arise under Rule 26 of the Codes on Takeovers and Mergers and Share Buy-backs.

The Company will conduct the share repurchase in compliance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). Pursuant to Rule 10.06(2)(e) of the Listing Rules, an issuer shall not purchase its shares on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") at any time after inside information has come to its knowledge until the information is made publicly available. In particular, during the period of one month immediately preceding the earlier of (i) the date of the board meeting for the approval of the issuer's results for any year, half-year, quarterly or any other interim period; and (ii) the deadline for the issuer to announce its results for any year or half-year under the Listing Rules, or quarterly or any other interim period, and ending on the date of the results announcement, the issuer shall not purchase its shares on the Stock Exchange, unless the circumstances are exceptional.

The Company will conduct the proposed share repurchases in compliance with the memorandum and articles of association of the Company, the Listing Rules, the Codes on Takeovers and Mergers and Share Buy-backs, the Companies Law of the Cayman Islands and all applicable laws and regulations to which the Company is subject to.

The Company may cancel such repurchased Shares or hold them as treasury Shares, subject to market conditions and the Group’s capital management needs at the relevant time of the repurchases.

The Board believes that the current financial resources of the Company would enable it to implement the share repurchases without causing any material impact on its working capital.

The Board will review the 2024 Share Repurchase Program periodically, and may authorize adjustment of its terms and size.

Shareholders and potential investors shouldnote that any repurchase may be done subject to market conditions and at the Board's absolute discretion. There is no assurance of thetiming, quantity or price of any repurchase. Shareholders and potential investors should therefore exercise caution when dealing in theShares.

About MINISO Group

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "anticipate", "aim", "estimate", "intend", "plan", "believe", "is/are likely to", "potential", "continue" or other similar expressions. MINISO may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC") and The Stock Exchange of Hong Kong Limited (the "HKEX"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about MINISO's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: MINISO's mission, goals and strategies; future business development, financial conditions and results of operations; the expected growth of the retail market and the market of branded variety retail of lifestyle products in China and globally; expectations regarding demand for and market acceptance of MINISO's products; expectations regarding MINISO's relationships with consumers, suppliers, MINISO Retail Partners, local distributors, and other business partners; competition in the industry; proposed use of proceeds; and relevant government policies and regulations relating to MINISO's business and the industry. Further information regarding these and other risks is included in MINISO's filings with the SEC and the HKEX. All information provided in this press release and in the attachments is as of the date of this press release, and MINISO undertakes no obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact:

Raine Hu

MINISO Group Holding Limited

Email: [email protected]

Phone: +86 (20) 36228788 Ext.8039

Exhibit 99.5

Hong Kong Exchanges and Clearing Limitedand The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as toits accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon thewhole or any part of the contents of this announcement.

MINISO Group Holding Limited

名創優品集團控股有限公司

(A company incorporated in the Cayman Islands with limitedliability)

(Stock Code: 9896)

VOLUNTARY ANNOUNCEMENT

INTENTION TO CONDUCT ON-MARKET SHARE REPURCHASE

This is a voluntary announcement made by MINISO Group Holding Limited (the “Company”, together with its subsidiaries, the “Group”) to provide its shareholders (the “Shareholders”) and potential investors with information in relation to the latest developments regarding the Company.

Reference is made to the announcement of the Company dated September 15, 2023 in relation to the share purchase program (the “2023 Share Repurchase Program”) adopted by the Company to conduct share repurchase from the open market over a 12-month period.

The board (the “Board”) of directors (the “Directors”) of the Company wishes to announce that on August 30, 2024, the Board has authorised and approved a new share repurchase program (the “2024 Share Repurchase Program”), under which the Company may repurchase up to HKD2 billion in value of its outstanding ordinary shares and/or American depositary shares representing its ordinary shares (the “Shares”) from the open market over a 12-month period starting from the approval date. The Company expects to fund the repurchases under the 2024 Share Repurchase Program from surplus cash on its balance sheet.

The Board has full confidence in the Company’s business outlook and prospects, and believes that the current share price of the Company has been below its intrinsic value. By implementing the 2024 Share Repurchase Program, the Company aims to promote the interests of its Shareholders, balance the Group’s fast growth and its commitment to bringing stable and foreseeable returns to Shareholders.

The Company’s proposed repurchases under the 2024 Share Repurchase Program may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades, and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations.

The Company shall conduct the repurchases by exercising its powers under the repurchase mandate granted or to be granted to the Board pursuant to the resolutions of the Shareholders passed at the annual general meeting of the Company each year to repurchase the Shares not exceeding 10% of the total number of the issued Shares (excluding any treasury Shares) as at the date of such annual general meeting (the “Share Repurchase Mandate”), with each mandate to expire upon whichever is the earliest of: (a) the conclusion of the next annual general meeting of the Company; (b) the expiration of the period within which the next annual general meeting of the Company is required by the memorandum and articles of the association of the Company or by any applicable laws to be held; and (c) the date on which the authority given under the ordinary resolution approving the Share Repurchase Mandate is revoked or varied by an ordinary resolution of the Shareholders.

During the period from August 30, 2024 to the date of holding the upcoming annual general meeting of the Company in 2025, the Company will conduct the repurchases under the Share Repurchase Mandate granted by the Shareholders on June 20, 2024, and for the remaining period under the 2024 Share Repurchase Program, the Company will conduct the repurchases under the Share Repurchase Mandate to be granted by the Shareholders at the upcoming annual general meeting of the Company, subject to the approval of the Shareholders and the general mandate conditions as specified above. It is the intention of the Board to implement the 2024 Share Repurchase Program during the 12- month period only in such a way and only to such an extent that would not cause a mandatory general offer obligation to arise under Rule 26 of the Codes on Takeovers and Mergers and Share Buy-backs.

The Company will conduct the share repurchase in compliance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”). Pursuant to Rule 10.06(2)(e) of the Listing Rules, an issuer shall not purchase its shares on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) at any time after inside information has come to its knowledge until the information is made publicly available. In particular, during the period of one month immediately preceding the earlier of (i) the date of the board meeting for the approval of the issuer’s results for any year, half-year, quarterly or any other interim period; and (ii) the deadline for the issuer to announce its results for any year or half-year under the Listing Rules, or quarterly or any other interim period, and ending on the date of the results announcement, the issuer shall not purchase its shares on the Stock Exchange, unless the circumstances are exceptional.

The Company may cancel such repurchased Shares or hold them as treasury Shares, subject to market conditions and the Group’s capital management needs at the relevant time of the repurchases.

The Board believes that the current financial resources of the Company would enable it to implement the share repurchases without causing any material impact on its working capital.

The Board will review the 2024 Share Repurchase Program periodically, and may authorize adjustment of its terms and size.

Shareholders and potential investorsshould note that any repurchase may be done subject to market conditions and at the Board’s absolute discretion. There is no assuranceof the timing, quantity or price of any repurchase. Shareholders and potential investors should therefore exercise caution when dealingin the Shares.

By<br> Order of the Board
MINISO<br> Group Holding Limited
Mr.<br> YE Guofu
Executive<br> Director and Chairman

Hong Kong, August 30, 2024

As of the date of this announcement,the board of directors of the Company comprises Mr. YE Guofu as executive Director, Ms. XU Lili, Mr. ZHU Yonghua and Mr. WANG Yongpingas independent non-executive Directors.

MNSO 6-K