名創優品赴港雙重上市,你怎麼看?
Futu News report dated June 30, this Thursday$MNSO (09896.HK)$Announced that the offering will take place from June 30 to July 6. The company plans to issue 41.1 million shares, including 4.11 million shares for public offering and 36.99 million shares for international offering. The maximum issue price per share is HK$22.1, with a minimum board lot of 200 shares, expecting to dual list in Hong Kong on July 13.

The company is a global retailer providing a wide variety of creative home products. Over the nine years since opening its first store in China in 2013, the company has successfully incubated two brands: Miniso and TOP TOY.
According to the Frost & Sullivan report, in 2021, the company's GMV of products sold through the MINISO store network totaled approximately RMB 18 billion (USD 2.8 billion), making it the world's largest integrated lifestyle home retailer with private labels. TOP TOY is a new brand launched by the company in December 2020 and a pioneer in introducing the concept of trendy toy collectible stores. According to the same source, TOP TOY’s GMV reached RMB 374 million in 2021, ranking seventh in China’s trendy toy market.
For the fiscal years ended June 30, 2019, 2020, and 2021, the company achieved revenues from continuing operations of RMB 9.395 billion, RMB 8.979 billion, and RMB 9.072 billion, respectively. In the first half of fiscal 2022, the company’s revenue was RMB 5.427 billion, representing a year-over-year increase of 24%.
For the fiscal years ended June 30, 2019, 2020, and 2021, the company reported net losses of RMB 294 million, RMB 260 million, and RMB 1.429 billion, respectively. In the first half of fiscal 2021 and 2022, the company recorded net losses of RMB 1.656 billion and net profits of RMB 339 million, respectively.


According to the Frost & Sullivan report, the size of China’s private-label comprehensive retail market, measured by GMV, is expected to grow at a compound annual growth rate (CAGR) of 14.2% from 2022 to 2026, reaching RMB 189.5 billion by 2026.

Measured by GMV, the global private-label comprehensive retail market is expected to continue growing at an accelerated CAGR of 12.6% from 2022 to 2026, reaching USD 86.8 billion by 2026.

The company plans to use the net proceeds from the global offering for the following purposes: approximately 25% will be used for the expansion and upgrading of the company’s store network; approximately 20% will be used for supply chain optimization and product development; approximately 20% will be allocated to enhancing the company’s technological capabilities; approximately 20% is expected to be reinvested in brand promotion and cultivation; approximately 5% will be used for capital expenditures; and approximately 10% will be used for working capital and general corporate purposes.
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