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Digital Shipment Market size is set to grow by USD 94.17 billion from 2024-2028, increasing customer demand for faster and more streamlined services boost the market, Technavio

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NEW YORK, June 19, 2024 /PRNewswire/ — The global digital shipment market size is estimated to grow by USD 94.17 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 29.17%  during the forecast period. Increasing customer demand for faster and more streamlined services is driving market growth, with a trend towards globalization in the supply chain. However, cybercrime risks poses a challenge. Key market players include AP Moller Maersk AS, Boxnbiz Technologies Pvt. Ltd., CMA CGM Group, COSCO Shipping International Co. Ltd., Descartes Systems Group Inc., Deutsche Post AG, Evergreen Marine Corp. Taiwan Ltd., FedEx Corp., Flexport Inc., Forto GmbH, Hapag Lloyd AG, HMM Europe Ltd., Kuehne Nagel Management AG, MSC Mediterranean Shipping Co. SA, Ocean Network Express Pte. Ltd., Pacific International Lines Pte. Ltd., TRAXENS, Yang Ming Marine Transport Corp., Zencargo, and ZIM Integrated Shipping Services Ltd.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Digital Shipment Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 29.17%

Market growth 2024-2028

USD 94171.7 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

22.16

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 30%

Key countries

China, US, Japan, Germany, and South Korea

Key companies profiled

AP Moller Maersk AS, Boxnbiz Technologies Pvt. Ltd., CMA CGM Group, COSCO Shipping International Co. Ltd., Descartes Systems Group Inc., Deutsche Post AG, Evergreen Marine Corp. Taiwan Ltd., FedEx Corp., Flexport Inc., Forto GmbH, Hapag Lloyd AG, HMM Europe Ltd., Kuehne Nagel Management AG, MSC Mediterranean Shipping Co. SA, Ocean Network Express Pte. Ltd., Pacific International Lines Pte. Ltd., TRAXENS, Yang Ming Marine Transport Corp., Zencargo, and ZIM Integrated Shipping Services Ltd.

Market Driver

The global digital shipment market is experiencing growth due to increased globalization in supply chains and the expansion of consumer goods companies across international borders. This trend leads to the development of new trade corridors, such as the Ethiopian Berbera Corridor, the SingaporeGuangxi distribution center, and the International North-South Transport Corridor. These corridors facilitate the transportation of goods like electronics, apparel, and vegetables, generating demand for efficient digital shipment services. Consequently, globalization positively impacts the market’s growth during the forecast period. 

The digital shipment market is experiencing significant growth with the implementation of technology in the logistics sector. Real-time tracking, volumetric pricing, and predictive analytics are key trends shaping this industry. Companies are leveraging technology to improve efficiency, reduce costs, and enhance customer experience. The use of digital platforms for booking, managing, and monitoring shipments is becoming increasingly popular. Consumers and businesses alike appreciate the transparency and convenience offered by these solutions. The adoption of digital technologies is also driving innovation in areas such as predictive maintenance and supply chain optimization. Overall, the digital shipment market is poised for continued growth and transformation. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The digital shipment market faces significant challenges from cybersecurity threats. With the rise of connectivity and digitalization, there’s an increased risk of hacking and ransomware attacks. Shipping companies prioritize data security and safety alongside operational efficiency. Cybercrimes, such as cargo manipulation, system interference, and GPS jamming, can negatively impact financial performance and brand image. Innovative technologies are used for cargo tracking, paper filings, and supply chain visibility, necessitating robust cybersecurity measures for interoperability and data protection.The digital shipment market faces several challenges in its transformation process. Delay in digital adoption, lack of standardization, and integration issues are major hurdles. Industry players struggle with implementing digital technologies due to high investment costs and resistance to change. Furthermore, the need for seamless integration between different systems and platforms adds to the complexity. Additionally, data security and privacy concerns are crucial in this sector, making it essential to implement robust cybersecurity measures. Lastly, keeping up with the latest technologies and trends is a continuous challenge for market players.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This digital shipment market report extensively covers market segmentation by  

Type 1.1 Digital shipping lines1.2 Digital freight forwardersDeployment 2.1 Cloud2.2 On-premisesGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Digital shipping lines-  The digital shipping lines segment dominates the digital shipment market in 2023, driven by significant revenue contributions. Key players like Maersk Line, Mediterranean Shipping Co., Hapag Lloyd, and CMA CGM operate in this sector. Digital shipping lines use advanced tracking technology and offer online booking and vessel selection. While they provide competitive rates and real-time cargo tracking, they may not always offer additional transport services or the best rates. Their liability for cargo damage or loss adds value. These factors fuel the growth of the digital shipping lines segment.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

In the dynamic world of digital shipment markets, advance tracking features have revolutionized the e-commerce industry. Consumers now have real-time access to information regarding their orders, enabling better transportation methods and ensuring efficiency. Analytical reports provide essential insights into impacting factors, allowing businesses to make informed decisions and seize imminent investment pockets. Cross-border e-commerce thrives on easy documentation and instant pricing, offering convenience and instant quotes to consumers. The market continues to evolve, with cancellation of orders and convoy systems becoming increasingly common. Air transportation remains a crucial component, ensuring timely delivery of goods. Overall, the digital shipment market is a critical component of the e-commerce ecosystem, driving growth and innovation.

Market Research Overview

The Digital Shipment Market encompasses various technologies and processes that facilitate the digitalization of international freight forwarding and logistics. This includes the use of advanced analytics, digital platforms, and automation to streamline and optimize the shipping process. Key aspects of the market include the implementation of blockchain technology for secure and transparent transactions, the integration of IoT sensors for real-time tracking, and the adoption of AI and machine learning for predictive analytics and demand forecasting. Additionally, the market is driven by the increasing need for faster and more efficient shipping solutions, as well as the growing trend towards e-commerce and globalization. Overall, the Digital Shipment Market offers significant opportunities for innovation and growth in the logistics industry.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeDigital Shipping LinesDigital Freight ForwardersDeploymentCloudOn-premisesGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

vivo Expert Dr. Wang Ruixin Wins 3GPP Excellence Award for Outstanding Contribution to 5G OTA Standards

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SHENZHEN, China, May 23, 2025 /CNW/ — 3GPP (3rd Generation Partnership Project) formally announced that Dr. Wang Ruixin, a leading telecommunications expert at vivo, has received the prestigious 3GPP Excellence Award 2024 during the 3GPP RAN4#115 meeting held in Malta on May 19, 2025. Presented by 3GPP, an authoritative global communication standards body, the award honors individuals who have made outstanding contributions to the development of mobile communication technology specifications. Dr. Wang’s achievement is an acknowledgment of his technical leadership and underscores vivo’s position as one of the global leaders in 5G core technology R&D and international standard setting.

Dr. Wang’s Award Recognizes Exceptional Technical Contributions

3GPP is the world’s leading telecommunication standard development body. It currently has more than 850 member companies from over 40 countries, including mobile network operators, equipment manufacturers, instrumentation manufacturers, chipmakers, universities and R&D institutions. The technical specifications produced by 3GPP directly impact the communication experience of billions of users around the world.

Established in 2012, the 3GPP Excellence Award recognizes individuals who have made outstanding technical contributions to the 3GPP working groups. Each year, a maximum of four recipients are selected from all technical specification groups, including Radio Access Networks (RAN), Services & Systems Aspects (SA) and Core Network & Terminals (CT). According to 3GPP statistics, over 1,000 representatives participated in the standard discussions across its working groups in 2024. Dr. Wang stood out with his breakthrough contribution to the field of 5G OTA standards, becoming the second expert from the RAN4 Working Group to receive this honor since the award was established.

At the award ceremony, the 3GPP RAN4 leadership team highlighted Dr. Wang’s dedication and expertise. “His strong technical expertise, dedication and excellent leadership has made him a successful and outstanding delegate in 3GPP RAN4. Many thanks for Ruixin’s excellent work and contribution!” they stated.

Dr. Wang Ruixin has been actively engaged in 3GPP technical standardization work for many years. In the 5G era, he has served as the Rapporteur for multiple standard projects (WI/SI), leading the development of mobile terminal radiated performance and Over-the-Air (OTA) testing standards. Under his leadership, 3GPP achieved several industry milestones in this field, including the finalization of 5G UE OTA requirements in 2024 – a groundbreaking accomplishment in the industry.

Beyond his individual technical contributions, as vivo’s prime delegate of RAN4 working group, Dr. Wang has led the vivo RAN4 team participation in technical discussions across multiple topics, actively driving the development of 3GPP standards.

From Technical Breakthroughs to Ecosystem Building: vivo’s Methodology for Standard Innovation

Dr. Wang’s achievements reflect vivo’s systematic investment in the field of communication technology. As a global leader in smartphone manufacturing, vivo established the Communications Research Institute in 2016, focusing on cutting-edge mobile communication research, international/industry standard development, and core technology verification and testing for the group.

To date, vivo has submitted over 17,000 5G technical proposals to 3GPP, participated in the formulation of more than 700 technical standards, and applied for over 7,000 patents for 5G and 6G technologies. It has successfully driven projects such as UE power saving, Multi-SIM, LP-WUS, and narrowband voice satellite communication within 3GPP. vivo has also developed prototypes for 5.5G and 6G technologies, including NTN, RedCap, AI+ communication, 6G mobile computing-network integration, 6G integrated sensing and communication, 6G data plane, and 6G backscatter technologies. Additionally, vivo has published six 6G white papers and three technical books through People’s Posts & Telecommunications Press, making outstanding contributions to the formulation of global mobile communication standards and the advancement of the industry.

With its achievements and contributions in 5G standard setting, technology validation, testing, product development, and application, vivo was awarded the National Science and Technology Progress Award First Prize in June 2024, consolidating its leading position in the field of global communication technology.

Dr. Wang’s 3GPP Excellence Award marks a career milestone and demonstrates vivo’s innovation leadership. As the global communication industry steps into a new decade of “intelligent connectivity for all”, innovation pioneers like vivo are writing a new chapter in the history of world communications.

About vivo

vivo is a technology company driven by design to create exceptional products, with smart terminals and intelligent services at its core. It aims to bridge the gap between people and the digital world, offering users a more convenient and personalized mobile digital life. Guided by its corporate values of ‘Benfen’ (staying grounded), user orientation, design-driven innovation, continuous learning, and teamwork, vivo integrates sustainable development strategies across its value chain, striving to become a healthier, enduring world-class enterprise.

Headquartered in Dongguan, China, vivo taps into local talent resources and maintains an extensive R&D network spanning Shenzhen, Dongguan, Nanjing, Beijing, Hangzhou, Shanghai, and Xi’an. Its research covers a wide range of frontier areas, including 5G communication, artificial intelligence, industrial design, and imaging technology. Currently, vivo’s manufacturing network (including authorized production) boasts an annual production capacity of nearly 200 million units, with sales covering over 60 countries and regions and a user base exceeding 500 million.

For more corporate, brand, product, and technology updates, follow vivo’s official WeChat accounts: ‘vivo’ and ‘XG Detective Agency’.

For additional media resources, high-resolution images, or videos, please visit: https://mobile.vivo.com/

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SOURCE vivo

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Technology

MINISO Group Announces March Quarter 2025 Unaudited Financial Results

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Revenue grew 18.9 % year over year

Significant sequential improvement of same-store sales(1) in MINISO mainland China for March Quarter

Gross margin reached 44.2%, up 0.8 ppt year over year

Adjusted EBITDA increased 7.5% year over year to RMB1,037.3 million

Shareholder returns reached around RMB986.9 million year to date

GUANGZHOU, China, May 23, 2025 /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 March 31, 2025 (the “March Quarter”).

Financial Highlights 

Revenue increased 18.9 % year over year to RMB4,427.0 million (US$610.1 million).Same-store sales(1) in MINISO mainland China has significantly narrowed its decline for March Quarter to mid-single digit.Gross profit increased 21.1% year over year to RMB1,958.0 million (US$269.8 million).Gross margin was 44.2%, compared to 43.4% in the same period last year.Operating profit was RMB709.8 million (US$97.8 million), compared to RMB743.3 million in the same period last year.Profit for the period was RMB416.5 million (US$57.4 million), compared to RMB586.0 million in the same period last year. Excluding other expenses and interest expenses related to issuance of equity linked securities in January 2025 (the “Equity Linked Securities”), and interest expenses related to the bank loans used for acquisition of the equity interest in Yonghui Superstores Co., Ltd*(永輝超市股份有限公司), profit for the period would have been RMB562.3 million (US$77.5 million).Adjusted net profit(2) was RMB587.2 million (US$80.9 million), compared to RMB616.9 million in the same period last year.Adjusted net margin(2) was 13.3%, compared to 16.6% in the same period last year.Adjusted EBITDA(2) increased 7.5% year over year to RMB1,037.3 million (US$142.9 million).Adjusted EBITDA margin(2) was 23.4%, compared to 25.9% in the same period of 2024.Adjusted basic and diluted earnings per ADS(2) were RMB1.92 (US$0.26) and RMB1.88 (US$0.26) respectively, compared with each of RMB1.96 in the same period last year.Cash Position(3) was RMB7,255.3 million (US$999.8 million) as of March 31, 2025, compared to RMB6,698.1 million as of December 31, 2024.

Operational Highlights

Total number of stores on group level was 7,768 as of March 31, 2025, representing a year-over-year increase of 978 net new stores.Number of MINISO stores was 7,488 as of March 31, 2025, representing a year-over-year increase of 858 net new stores.Number of MINISO stores in mainland China was 4,275 as of March 31, 2025, representing a year-over-year increase of 241 net new stores.Number of MINISO stores in overseas markets reached 3,213 as of March 31, 2025, representing a year-over-year increase of 617 net new stores.Number of TOP TOY stores was 280 as of March 31, 2025, representing a year-over-year increase of 120 net new stores. TOP TOY has also begun to expand into overseas markets since December quarter of 2024. This strategic move aligns with the Company’s plan to expand globally and strengthen its brand presence.

Notes:

(1)     “Same-store sales” refers to the daily sale on per store basis generated by those stores that opened prior to the beginning of the comparative periods and remained open as of the end of the comparative periods and closed for less than 30 days during both comparative periods.

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

(3)     “Cash position” refers to the combined balance of the Company’s cash and cash equivalents, restricted cash, term deposits with original maturity over three months, and other investments recorded as current assets.

The following table provides a breakdown of the Company’s store network and its changes on a year-over-year basis. 70% of new MINISO stores in the past twelve months were located in overseas markets.

As of

March 31,

2024

March 31,

2025

YoY

Number of stores on group level

6,790

7,768

978

Number of MINISO stores

6,630

7,488

858

Mainland China

4,034

4,275

241

—Directly operated stores

29

20

(9)

—Stores operated under MINISO Retail Partner model    

3,983

4,229

246

—Stores operated under distributor model

22

26

4

Overseas

2,596

3,213

617

—Directly operated stores

281

548

267

—Stores operated under MINISO Retail Partner model

314

432

118

—Stores operated under distributor model

2,001

2,233

232

Number of TOP TOY stores

160

280

120

—Directly operated stores

17

40

23

—Stores operated under MINISO Retail Partner model

143

240

97

 

Mr. Guofu Ye, Founder, Chairman, and CEO of MINISO, commented, “We delivered a solid March Quarter to kick off 2025 and are pleased to see our revenue grow by 18.9% year over year. Our revenue growth was mainly attributable to a 9.1% revenue growth in MINISO mainland China, an acceleration from September and December quarter last year, powered by a solid recovery in same-store sales. Through our steady progress in product mix optimization and strategical store network refinement, we are confident in achieving sustainable and high-quality growth.

Revenue in MINISO overseas grew by 30.3%, with a year-over-year 3 percentage points increase in contribution to our total revenue. We are forging more holistic collaborations with our overseas partners to enhance synergies, upgrade store formats to improve operational efficiency and unlock potential in store opening space.”

“Entering into 2025, we are facing an increasingly volatile macroeconomic environment. Yet, with over ten years’ experience of globalization, unparalleled scale and diversified footprint, we will stay resilient and agile in order to deliver long-term profitable growth.” Mr. Ye continued.

Mr. Eason Zhang, CFO of MINISO, commented, “Gross margin for March Quarter reached 44.2%, which was the highest for the past March quarters ever, thanks to our solid performance from overseas markets and TOP TOY. Adjusted EBITDA grew by 7.5% year over year to RMB1,037.3 million, with an adjusted EBITDA margin of 23.4%. Our mainland franchise segment achieved a stable operating margin year over year amid a challenging environment while our investments into new businesses will open up growth opportunities over the long term.”

“MINISO Group remains steadfast in our consumer-centric strategy driving business transformation and market expansion through continuous innovation. We are committed to delivering high-quality, creatively designed products and services to our customers while generating sustainable value for shareholders. We maintained a strong cash position of RMB7,255.3 million as of March 31, 2025 and distributed cash dividends of US$101.4 million this April. Supplemented by year-to-date share repurchase of about RMB255.7 million, our returns to shareholders totaled RMB986.9 million. Moving forward, we will continue to exert effort on disciplined cost control and moderate budgeting, and balance both growth and our commitment to bringing stable and foreseeable returns to shareholders.” Mr. Zhang concluded.

Financial Results for the March Quarter

Revenue was RMB4,427.0 million (US$610.1 million), representing an increase of 18.9% year over year, primarily driven by an 16.5% year-over-year increase in average store count.

Revenue from MINISO brand increased by 16.5% to RMB4,085.8 million (US$563.0 million), driven by (i) an increase of 9.1% in mainland China, and (ii) an increase of 30.3% in overseas markets. The year-over-year increase was primarily due to an increase of 24.6% in average store count in overseas. Overseas revenue contributed to 39.0% of revenue from MINISO brand, compared to 34.8% in the same period of 2024.

Revenue from TOP TOY brand increased by 58.9% to RMB339.9 million (US$46.8 million), primarily powered by its rapid growth in average store count.

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 RMB2,469.0 million (US$340.2 million), representing an increase of 17.2% year over year.

Gross profit was RMB1,958.0 million (US$269.8 million), representing an increase of 21.1% year over year.

Gross margin reached 44.2%, representing an increase of 0.8 percentage point. The year-over-year increase in gross margin was primarily due to (i) higher revenue contribution of MINISO brand from overseas markets, (ii) higher gross margin of TOP TOY due to a shift in revenue mix towards more profitable products.

Other income was RMB3.0 million (US$0.4 million), compared to RMB3.6 million in the same period of 2024.

Selling and distribution expenses were RMB1,021.2 million (US$140.7 million), increased by 46.7% year over year. Excluding share-based compensation expenses, selling and distribution expenses were RMB1,012.8 million (US$139.6 million), increased by 50.7% year over year. The year-over-year increase was mainly attributable to the Company’s investments into directly operated stores to pursue the future success of the Company’s business. As of March 31, 2025, total number of directly operated stores in overseas markets was 608, compared with 327 in the same period last year. In the March Quarter, revenue from directly operated stores has increased 85.5% year over year, while related expenses including rental and related expenses, depreciation and amortization expenses together with payroll excluding share-based compensation expenses increased 71.4%. Licensing expenses increased by 39.6%, mainly attributable to our growing IP library and enriched offerings of IP products, as a percentage of revenue stabilizing at around 2% in both comparative periods. Logistics expenses increased by 31.3% year over year.

General and administrative expenses were RMB242.1 million (US$33.4 million), increased by 26.6% year over year. Excluding share-based compensation expenses, general and administrative expenses were RMB225.6 million (US$31.1 million), increased by 22.3% 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 RMB20.8 million (US$2.9 million), compared to RMB14.8 million in the same period of 2024. The year-over-year increase was mainly due to an increase in investment income in wealth management products, and a net foreign exchange gain compared with a net foreign exchange loss in the same period last year.

Operating profit was RMB709.8 million (US$97.8 million), compared with RMB743.3 million in the same period last year.

Net finance cost was RMB49.0 million (US$6.8 million), compared to net finance income of RMB25.0 million in the same period of 2024. The year-over-year increase in finance cost was due to (i) increased interest expenses in relation to the Equity Linked Securities and the bank loans used for acquisition of the equity interest of Yonghui Superstores Co., Ltd*, both of which have been excluded in non-IFRS financial measures(1), and (ii) increased interest expenses on lease liabilities corresponding to the Company’s investment in directly operated stores.

Other expenses was RMB91.1 million (US$12.6 million), including loss from fair value change of derivatives under mark-to-market impact and issuance cost of derivatives, which is in relation to the Equity Linked Securities and has been excluded in non-IFRS financial measures(1).

Profit for the period was RMB416.5 million (US$57.4 million), compared to RMB586.0 million in the same period of 2024. Excluding other expenses and interest expenses related to issuance of the Equity Linked Securities, and interest expenses related to the bank loans used for acquisition of the equity interest in Yonghui Superstores Co., Ltd*, profit for the period would have been RMB562.3 million (US$77.5 million).

Adjusted net profit(1) was RMB587.2 million (US$80.9 million), compared to RMB616.9 million in the same period last year.

Adjusted net margin(1) was 13.3%, compared to 16.6% in the same period of 2024. 

Adjusted EBITDA(1) increased 7.5% year over year to RMB1,037.3 million (US$142.9 million).

Adjusted EBITDA margin(1) was 23.4%, compared to 25.9% in the same period of 2024.

Basic and diluted earnings per ADS were both RMB1.36 (US$0.19), compared to RMB1.88 in the same period of 2024.

Adjusted basic earnings per ADS(1) was RMB1.92 (US$0.26), compared to RMB1.96 in the same period of 2024.

Adjusted diluted earnings per ADS(1) was RMB1.88 (US$0.26), compared to RMB1.96 in the same period of 2024.

Cash position, which was the combined balance of the Company’s cash and cash equivalents, restricted cash, term deposits, and other investments recorded as current assets was RMB7,255.3 million (US$999.8 million) as of March 31, 2025, compared to RMB6,698.1 million as of December 31, 2024.

Notes:

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

 

Conference Call

The Company’s management will hold an earnings conference call at 5:00 A.M. Eastern Time on Friday, May 23, 2025 (5:00 P.M. Beijing Time on the same day) to discuss the financial results. Simultaneous interpretation in English will be provided during the conference call. 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/91867561429?pwd=O6gp0PI5MebbwUIlZ9K0Z1obVLjp0U.1
Meeting Number: 918 6756 1429
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 call 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 March 31, 2025, which was RMB7.2567 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, gain or loss from fair value change of derivatives, issuance cost of derivatives and interest expenses related to equity linked securities and interest expenses related to the bank loans used for acquisition of the equity interest in Yonghui Superstores Co., Ltd. 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 excluding interest expenses related to equity linked securities and interest expenses related to the bank loans used for acquisition of the equity interest in Yonghui Superstores Co., Ltd. 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:

MINISO Group Holding Limited
Email: ir@miniso.com
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, 2024

March 31, 2025

(Audited)

(Unaudited)

RMB’000

RMB’000

US$’000

ASSETS

Non-current assets

Property, plant and equipment

1,436,939

1,535,840

211,644

Right-of-use assets

4,172,083

4,319,605

595,257

Intangible assets

8,802

8,379

1,155

Goodwill

21,418

21,586

2,975

Deferred tax assets

181,948

202,417

27,894

Other investments

123,399

123,062

16,958

Trade and other receivables

341,288

288,455

39,750

Term deposits

140,183

105,592

14,551

Financial derivative assets

810,192

111,647

Interests in equity-accounted investees                               

38,567

6,307,379

869,180

6,464,627

13,722,507

1,891,011

Current assets

Other investments

100,000

150,946

20,801

Inventories

2,750,389

2,833,354

390,447

Trade and other receivables

2,207,013

2,375,133

327,302

Cash and cash equivalents

6,328,121

6,839,406

942,495

Restricted cash

1,026

1,959

270

Term deposits 

268,952

262,962

36,237

11,655,501

12,463,760

1,717,552

Total assets

18,120,128

26,186,267

3,608,563

 

 

MINISO GROUP HOLDING LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (CONTINUED)

(Expressed in thousands)

As at

As at

December 31, 2024

March 31, 2025

(Audited)

(Unaudited)

RMB’000

RMB’000

US$’000

EQUITY

Share capital

94

94

13

Additional paid-in capital

4,683,577

3,954,863

544,995

Other reserves

1,329,126

1,959,579

270,037

Retained earnings

4,302,177

4,718,519

650,229

Equity attributable to equity shareholders of the Company

10,314,974

10,633,055

1,465,274

Non-controlling interests

40,548

45,411

6,258

Total equity

10,355,522

10,678,466

1,471,532

LIABILITIES

Non-current liabilities

Contract liabilities

35,145

33,381

4,600

Loans and borrowings

4,310

5,776,316

795,998

Other payables

59,842

74,844

10,314

Lease liabilities

1,903,137

2,066,649

284,792

Financial derivative liabilities

1,249,266

172,153

Deferred income

34,983

34,742

4,788

2,037,417

9,235,198

1,272,645

Current liabilities

Contract liabilities

323,292

344,665

47,496

Loans and borrowings

566,955

649,401

89,490

Trade and other payables

3,943,988

3,632,572

500,580

Lease liabilities

635,357

722,607

99,578

Deferred income

5,376

3,708

511

Current taxation

252,221

191,508

26,391

Dividend payables

728,142

100,340

5,727,189

6,272,603

864,386

Total liabilities

7,764,606

15,507,801

2,137,031

Total equity and liabilities

18,120,128

26,186,267

3,608,563

 

 

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)

Three months ended March 31,

2024

2025

(Unaudited)

(Unaudited)

RMB’000

RMB’000

US$ ‘000

Revenue

3,723,531

4,427,044

610,063

Cost of sales

(2,107,073)

(2,469,007)

(340,238)

Gross profit

1,616,458

1,958,037

269,825

Other income

3,645

3,020

416

Selling and distribution expenses

(696,027)

(1,021,186)

(140,723)

General and administrative expenses

(191,341)

(242,144)

(33,368)

Other net income

14,829

20,835

2,871

Credit loss on trade and other receivables

(667)

(8,775)

(1,209)

Impairment loss on non-current assets

(3,612)

Operating profit

743,285

709,787

97,812

Finance income

40,890

36,915

5,087

Finance costs

(15,909)

(85,945)

(11,844)

Net finance income/(cost)

24,981

(49,030)

(6,757)

Share of profit of equity-accounted investees, net of tax           

120

(2,005)

(276)

Other expenses

(91,071)

(12,550)

Profit before taxation

768,386

567,681

78,229

Income tax expense

(182,432)

(151,222)

(20,839)

Profit for the period

585,954

416,459

57,390

Attributable to:

Equity shareholders of the Company

582,472

416,342

57,374

Non-controlling interests

3,482

117

16

Earnings per share for ordinary shares

-Basic

0.47

0.34

0.05

-Diluted

0.47

0.34

0.05

Earnings per ADS

(Each ADS represents 4 ordinary shares)

-Basic

1.88

1.36

0.19

-Diluted

1.88

1.36

0.19

 

 

MINISO GROUP HOLDING LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS

AND OTHER COMPREHENSIVE INCOME (CONTINUED)

(Expressed in thousands)

Three months ended March 31,

2024

2025

(Unaudited)

(Unaudited)

RMB’000

RMB’000

US$ ‘000

Profit for the period

585,954

416,459

57,390

Items that may be reclassified subsequently to profit or loss:      

Exchange differences on translation of financial statements
of foreign operations

3,855

(1,291)

(178)

Other comprehensive income/(loss) for the period

3,855

(1,291)

(178)

Total comprehensive income for the period

589,809

415,168

57,212

Attributable to:

Equity shareholders of the Company

586,166

416,306

57,369

Non-controlling interests

3,643

(1,138)

(157)

 

 

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 March 31,

2024

2025

(Unaudited)

(Unaudited)

RMB’000

RMB’000

US$’000

Reconciliation of profit for the period to adjusted net profit:  

Profit for the period

585,954

416,459

57,390

Add back:

Equity-settled share-based payment expenses

30,937

24,930

3,435

Loss from fair value change of derivatives

46,407

6,395

Issuance cost of derivatives

44,664

6,155

Interest expenses related to equity linked securities and
the bank loans used for acquisition of the equity interest
in Yonghui Superstores Co., Ltd.

54,745

7,544

Adjusted net profit

616,891

587,205

80,919

Adjusted net margin

16.6 %

13.3 %

13.3 %

Attributable to:

Equity shareholders of the Company

613,409

586,999

80,891

Non-controlling interests

3,482

206

28

Adjusted net earnings per share(1)

-Basic

0.49

0.48

0.07

-Diluted

0.49

0.47

0.06

Adjusted net earnings per ADS (Each ADS represents
4 ordinary shares)

-Basic

1.96

1.92

0.26

-Diluted

1.96

1.88

0.26

Reconciliation of adjusted net profit for the period to
adjusted EBITDA:

Adjusted net profit

616,891

587,205

80,919

Add back:

Depreciation and amortization

150,102

267,672

36,886

Finance costs excluding interest expenses related
to equity linked securities and the bank loans used
for acquisition of the equity interest in Yonghui
Superstores Co., Ltd.

15,909

31,200

4,300

Income tax expense

182,432

151,222

20,839

Adjusted EBITDA

965,334

1,037,299

142,944

Adjusted EBITDA margin

25.9 %

23.4 %

23.4 %

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 March 31,

2024

2025

YoY

RMB’000

RMB’000

US$’000

Revenue

MINISO Brand

3,506,657

4,085,778

563,035

16.5 %

-Mainland China      

2,284,791

2,493,775

343,651

9.1 %

-Overseas

1,221,866

1,592,003

219,384

30.3 %

TOP TOY Brand

213,820

339,850

46,833

58.9 %

Others(1)

3,054

1,416

195

(53.6) %

3,723,531

4,427,044

610,063

18.9 %

Note:

(1) “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

March 31,

2024

March 31,

2025

YoY

By City Tiers

First-tier cities

532

569

37

Second-tier cities

1,664

1,773

109

Third- or lower-tier cities                               

1,838

1,933

95

Total

4,034

4,275

241

 

MINISO GROUP HOLDING LIMITED

UNAUDITED ADDITIONAL INFORMATION

NUMBER OF MINISO STORES IN OVERSEAS MARKETS

As of

By Regions

March 31,
2024

March 31,
2025

YoY

Asia excluding China                                     

1,402

1,663

261

North America

191

375

184

Latin America

563

646

83

Europe

237

301

64

Others

203

228

25

Total

2,596

3,213

617

*For identification purpose only

 

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SOURCE MINISO Group Holding Limited

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B2BROKER Launches First-Ever Turnkey Liquidity Provider Solution

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DUBAI, UAE, May 23, 2025 /PRNewswire/ — B2BROKER, a leading global fintech solutions provider, has announced the launch of Liquidity Provider Turnkey, a comprehensive solution designed to help financial institutions seamlessly enter the Prime-of-Prime (PoP) space. The product arrives at a time when market activity in both forex and digital assets continues to rise, the financial market becomes more inclusive, and brokers and other financial market players are searching for new business models, which will allow them to grow and become successful serving professional clients.

As regulatory standards tighten and technology demands intensify, the market for ready-made solutions is rapidly expanding. While turnkey solutions for launching retail brokerages have become relatively common, there has been no comparable infrastructure for setting up a liquidity provider business – until recently. B2BROKER’s new offering fills this gap by delivering the industry’s first fully-integrated, ready-to-deploy solution for financial companies looking to become institutional liquidity providers.

Traditionally, this path has required significant capital investment — often in the millions — along with deep technical expertise, robust risk controls, and strong executive oversight. This development will significantly lower the barrier to entry and eliminate the need to build infrastructure from scratch.

Liquidity Provider Turnkey enables brokers to launch their own PoP liquidity business with a suite of institutional-grade features, including access to over 1,500 trading instruments across 10 asset classes such as forex, crypto, equities, and commodities. The solution includes a unified margin account, robust NOP, and deep integration with key technology providers including PrimeXM, oneZero, Centroid, FXCubic, and B2CONNECT.

Built for simplicity and speed, the product removes the technical and operational barriers traditionally associated with launching a liquidity provider business. Features include dynamic margining, real-time balance monitoring, and built-in KYC, all underpinned by 24/7 technical support and compliance consulting for Tier-1 and Tier-2 jurisdictions.

“We see growing demand from financial companies looking to move into the institutional liquidity space, and our turnkey solution provides them with the tools and infrastructure to make that transition successfully,” said John Murillo, Chief Dealing Officer at B2BROKER. “Our aim is to make institutional expansion accessible, fast, and scalable.”

The solution is built for financial institutions seeking a fast operational launch without building infrastructure from the ground up. This includes:

Retail brokers expanding into institutional markets;Proprietary trading firms looking to internalize liquidity and monetize trading flow;Asset managers and hedge funds leveraging market expertise for liquidity provision;IB and agent networks transitioning to full-service liquidity providers;Fintechs entering the B2B trading infrastructure space;Banks diversifying their business models and revenue streams.

Beyond core trading infrastructure, Liquidity Provider Turnkey includes a customizable website, SEO optimization, payment integrations, and a centralized CRM system for full operational control. It’s also bundled with B2BROKER’s industry-leading payment technology, including B2BINPAY and EQWIRE, which support multi-currency accounts, automated deposit/withdrawal flows, and crypto processing.

The business model enables clients to generate revenue through spreads, swaps, commissions, and treasury operations, while maintaining a risk-free LP model. Additional cross-selling opportunities through B2BROKER’s product ecosystem—such as B2CORE, B2TRADER, and B2COPY—further enhance monetization and long-term business development.

With Liquidity Provider Turnkey, B2BROKER poses itself as a market innovator, offering brokers a fast, compliant, and tech-forward path to becoming institutional liquidity providers.

About B2BROKER

B2BROKER is a global fintech solutions provider for financial institutions. It delivers liquidity, trading technology, payment solutions, and brokerage infrastructure through a network of specialised entities. Founded in 2014, with key hubs in London, Limassol, Hong Kong, and Dubai, the company operates in 11 countries, serving clients across Europe, the Middle East, and Asia. B2BROKER serves brokers, exchanges, hedge funds, proprietary trading firms, and other financial institutions. Leveraging its extensive network and ecosystem-driven approach, the company provides scalable solutions that help clients streamline operations, maximise efficiency, and drive growth.

Contact
Chief Dealing Officer
John Murillo
B2BROKER
john.m@b2broker.net 

Photo – https://mma.prnewswire.com/media/2694988/B2BROKER.jpg

 

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