Xiaopo Wei's questions to MINISO Group Holding Ltd (MNSO) leadership • FY 2024
Question
Xiaopo Wei of Citi inquired about the 2025 margin outlook, questioning if its dependency on directly-operated stores made profit growth less certain, and asked for business indicators or progress updates on the YH retail reform.
Answer
Executive Eason Zhang reaffirmed confidence in accelerated 2025 revenue growth, driven by China's online business and 35-40% overseas growth, noting existing directly-operated stores will see profit improvement. Executive Guofu Ye detailed the YH reform plan, which centers on increasing efficiencies and reducing costs, with a goal to retrofit all stores and achieve strong performance by the end of 2026.