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Segment reporting | 6 Months Ended
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Dec. 31, 2023
Segment reporting |
Segment reporting | 4 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 during the years ended June 30, 2021, 2022 and 2023 and the six months ended December 31, 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 years ended June 30, 2021, 2022 and 2023 and the six months ended December 31, 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 year ended June 30, 2021
​ | ​ | Reportable segments | ​ | ​ | ​ | ​
​ | ​ | MINISO | ​ | ​ | ​ | Total reportable | ​ | Other | ​ | ​
​ |  | brand | ​ | TOP TOY brand | ​ | segments | ​ | segment | ​ | Total
​ |  | RMB’000 |  | RMB’000 |  | RMB’000 |  | RMB’000 |  | RMB’000
External revenues |  | 8,735,947 |  | 98,241 |  | 8,834,188 |  | 237,471 |  | 9,071,659
Inter-segment revenue |  | 1,978 |  | 5,832 |  | 7,810 |  | 115,701 |  | 123,511
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Segment revenue |  | 8,737,925 |  | 104,073 |  | 8,841,998 |  | 353,172 |  | 9,195,170
Segment profit/(loss) before taxation |  | 378,926 |  | (24,376) |  | 354,550 |  | 58,556 |  | 413,106
Finance income |  | 38,858 |  | 9 |  | 38,867 |  | 1,566 |  | 40,433
Finance costs |  | (26,324) |  | (2,021) |  | (28,345) |  | (17) |  | (28,362)
Depreciation and amortization |  | (252,721) |  | (11,229) |  | (263,950) |  | (1,069) |  | (265,019)
Other material non-cash items: |  | ​ |  | ​ |  | ​ |  | ​ |  | ​
- credit loss on trade and other receivables |  | (20,208) |  | (607) |  | (20,815) |  | (17) |  | (20,832)
- impairment loss on non-current assets |  | (1,850) |  | (1,091) |  | (2,941) |  | — |  | (2,941)
Segment assets | ​ | 9,873,002 | ​ | 315,038 | ​ | 10,188,040 | ​ | 164,928 | ​ | 10,352,968
Additions to non-current assets during the year* | ​ | 374,825 | ​ | 128,585 | ​ | 503,410 | ​ | 7,385 | ​ | 510,795
Segment liabilities | ​ | 3,662,661 | ​ | 333,096 | ​ | 3,995,757 | ​ | 57,119 | ​ | 4,052,876
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at and for the year ended June 30, 2022
​ | ​ | Reportable segments | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Total reportable | ​ | Other | ​ | ​
​ |  | MINISO brand |  | TOP TOY brand |  | segments |  | segment |  | Total
​ |  | RMB’000 |  | RMB’000 |  | RMB’000 |  | RMB’000 |  | RMB’000
External revenues | ​ | 9,468,718 | ​ | 446,930 | ​ | 9,915,648 | ​ | 170,001 | ​ | 10,085,649
Inter-segment revenue | ​ | 895 | ​ | 501 | ​ | 1,396 | ​ | 215,183 | ​ | 216,579
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Segment revenue |  | 9,469,613 |  | 447,431 |  | 9,917,044 |  | 385,184 |  | 10,302,228
Segment profit/(loss) before taxation |  | 941,037 |  | (81,536) |  | 859,501 |  | 97,455 |  | 956,956
Finance income |  | 62,218 |  | 416 |  | 62,634 |  | 3,190 |  | 65,824
Finance costs |  | (26,481) |  | (6,904) |  | (33,385) |  | (11) |  | (33,396)
Depreciation and amortization |  | (317,273) |  | (32,528) |  | (349,801) |  | (1,916) |  | (351,717)
Other material non-cash items: | ​ | ​ |  | ​ |  | ​ |  | ​ |  | ​
- credit loss on trade and other receivables |  | (27,054) |  | (1,762) |  | (28,816) |  | (108) |  | (28,924)
- impairment loss on non-current assets |  | (8,656) |  | (4,829) |  | (13,485) |  | - |  | (13,485)
Segment assets |  | 8,310,214 |  | 519,814 |  | 8,830,028 |  | 171,163 |  | 9,001,191
Additions to non-current assets during the year* | ​ | 319,809 | ​ | 141,101 | ​ | 460,910 | ​ | 8,510 | ​ | 469,420
Segment liabilities |  | 3,552,457 |  | 620,953 |  | 4,173,410 |  | 62,341 |  | 4,235,751
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at and for the year ended June 30, 2023
​ | ​ | Reportable segments | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Total | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | TOP TOY | ​ | reportable | ​ | Other | ​ | ​
​ | ​ | MINISO brand | ​ | brand | ​ | segments | ​ | segment | ​ | Total
​ |  | RMB’000 |  | RMB’000 |  | RMB’000 |  | RMB’000 |  | RMB’000
External revenues |  | 10,861,222 |  | 533,367 |  | 11,394,589 |  | 78,619 |  | 11,473,208
Inter-segment revenue |  | 71 |  | 7,946 |  | 8,017 |  | 367,032 |  | 375,049
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Segment revenue |  | 10,861,293 |  | 541,313 |  | 11,402,606 |  | 445,651 |  | 11,848,257
Segment profit/(loss) before taxation |  | 2,354,357 |  | (20,412) |  | 2,333,945 |  | 17,814 |  | 2,351,759
Finance income |  | 139,577 |  | 1,201 |  | 140,778 |  | 2,969 |  | 143,747
Finance costs |  | (29,751) |  | (4,863) |  | (34,614) |  | (8) |  | (34,622)
Depreciation and amortization |  | (302,070) |  | (64,405) |  | (366,475) |  | (4,339) |  | (370,814)
Other material non-cash items: |  | ​ |  | ​ |  | ​ |  | ​ |  | ​
- reversal of credit loss/(credit loss) on trade and other receivables |  | 1,409 |  | (246) |  | 1,163 |  | (91) |  | 1,072
- 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 year* | ​ | 933,768 | ​ | 37,434 | ​ | 971,202 | ​ | 4,221 | ​ | 975,423
Segment liabilities |  | 3,937,784 |  | 493,044 |  | 4,430,828 |  | 43,699 |  | 4,474,527
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at and for the six months ended December 31, 2023
​ | ​ | Reportable segments | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Total | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | TOP TOY | ​ | reportable | ​ | Other | ​ | ​
​ | ​ | MINISO brand | ​ | brand | ​ | segments | ​ | segment | ​ | Total
​ | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000
​ |  | ​ |  | ​ |  | ​ |  | ​ |  | ​
External revenues |  | 7,251,610 |  | 368,842 |  | 7,620,452 |  | 12,015 |  | 7,632,467
Inter-segment revenue |  | 2,198 |  | 4,172 |  | 6,370 |  | 93,921 |  | 100,291
​ |  |  |  |  |  |  |  |  |  | ​
Segment revenue |  | 7,253,808 |  | 373,014 |  | 7,626,822 |  | 105,936 |  | 7,732,758
Segment profit before taxation |  | 1,644,839 |  | 6,479 |  | 1,651,318 |  | 2,924 |  | 1,654,242
Finance income |  | 120,064 |  | 640 |  | 120,704 |  | 1,911 |  | 122,615
Finance costs |  | (23,042) |  | (2,146) |  | (25,188) |  | (14) |  | (25,202)
Depreciation and amortization |  | (245,796) |  | (31,906) |  | (277,702) |  | (3,058) |  | (280,760)
Other material non-cash items: |  |  |  |  |  |  |  |  |  | ​
- (credit loss)/reversal of credit loss on trade and other receivables |  | (2,791) |  | 988 |  | (1,803) |  | (277) |  | (2,080)
- impairment loss on non-current assets |  | (3,682) |  | (865) |  | (4,547) |  | — |  | (4,547)
Segment assets |  | 11,547,381 |  | 400,602 |  | 11,947,983 |  | 191,275 |  | 12,139,258
Additions to non-current assets during the period* |  | 733,107 |  | 75,329 |  | 808,436 |  | 2,941 |  | 811,377
Segment liabilities |  | 4,841,577 |  | 335,870 |  | 5,177,447 |  | 41,403 |  | 5,218,850
Note:
* | The additions to non-current assets do not include additions to deferred tax assets, non-current prepayments, non-current trade receivables and non-current other investments.
(ii) | Reconciliations of information on reportable segments to the amounts reported in the financial statements
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | For the six
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | months ended
​ | ​ | For the year ended June 30, |  | December 31,
​ | ​ | 2021 | ​ | 2022 | ​ | 2023 |  | 2023
​ |  | RMB’000 |  | RMB’000 |  | RMB’000 |  | RMB’000
i. Revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total revenue for reportable segments |  | 8,841,998 | ​ | 9,917,044 |  | 11,402,606 | ​ | 7,626,822
Revenue for other segment |  | 353,172 | ​ | 385,184 |  | 445,651 | ​ | 105,936
Elimination of inter-segment revenue |  | (123,511) | ​ | (216,579) |  | (375,049) | ​ | (100,291)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated revenue |  | 9,071,659 | ​ | 10,085,649 |  | 11,473,208 | ​ | 7,632,467
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
ii. Profit before taxation |  |  | ​ |  |  |  | ​ | ​
Total profit before taxation for reportable segments |  | 354,550 | ​ | 859,501 |  | 2,333,945 | ​ | 1,651,318
Profit before taxation for other segment |  | 58,556 | ​ | 97,455 |  | 17,814 | ​ | 2,924
Unallocated amounts: |  |  | ​ |  |  |  | ​ | ​
- Fair value changes of redeemable shares with other preferential rights |  | (1,625,287) | ​ | — |  | — | ​ | —
- Share of loss of equity-accounted investees, net of tax | ​ | (4,011) | ​ | (8,162) | ​ | — | ​ | —
- Expenses relating to construction of headquarters building and depreciation expense of apartments for use as staff quarters | ​ | — | ​ | (41,981) | ​ | (18,145) | ​ | (1,500)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated (loss)/profit before taxation |  | (1,216,192) | ​ | 906,813 |  | 2,333,614 | ​ | 1,652,742
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | As at
​ | ​ | As at June 30, |  | December 31,
​ | ​ | 2022 | ​ | 2023 |  | 2023
​ |  | RMB’000 |  | RMB’000 |  | RMB’000
iii. Assets |  |  |  |  | ​ | ​
Total assets for reportable segments |  | 8,830,028 |  | 10,935,144 | ​ | 11,947,983
Assets for other segment |  | 171,163 |  | 190,366 | ​ | 191,275
Other unallocated amounts | ​ | ​ | ​ | ​ | ​ | ​
- Assets relating to construction of headquarters building | ​ | 2,028,095 | ​ | 2,078,833 | ​ | 2,107,557
- Apartments for use as staff quarters | ​ | 252,502 | ​ | 243,370 | ​ | 238,494
​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated total assets |  | 11,281,788 |  | 13,447,713 | ​ | 14,485,309
​ | ​ | ​ | ​ | ​ | ​ | ​
iv. Liabilities |  |  |  |  | ​ | ​
Total liabilities for reportable segments |  | 4,173,410 |  | 4,430,828 | ​ | 5,177,447
Liabilities for other segment |  | 62,341 |  | 43,699 | ​ | 41,403
Other unallocated amounts |  |  |  |  | ​ | ​
- Liabilities relating to construction of headquarters building |  | 18,637 |  | 54,918 | ​ | 75,242
​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated total liabilities |  | 4,254,388 |  | 4,529,445 | ​ | 5,294,092
​ v. Other material items ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the year ended June 30, 2021
​ | ​ | Reportable | ​ | ​ | ​ | ​
​ | ​ | segment | ​ | Other | ​ | Consolidated
​ |  | totals |  | segment |  | totals
​ | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000
Finance income | ​ | 38,867 | ​ | 1,566 | ​ | 40,433
Finance costs | ​ | (28,345) | ​ | (17) | ​ | (28,362)
Depreciation and amortization |  | (263,950) |  | (1,069) |  | (265,019)
Credit loss on trade and other receivables |  | (20,815) |  | (17) |  | (20,832)
Impairment loss on non-current assets |  | (2,941) |  | — |  | (2,941)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended June 30, 2022
​ |  | Reportable |  | ​ |  | ​ |  | ​
​ | ​ | segment | ​ | Other | ​ | Unallocated | ​ | Consolidated
​ |  | totals |  | segment |  | amount |  | totals
​ | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000
Finance income |  | 62,634 |  | 3,190 |  | 520 | ​ | 66,344
Finance costs |  | (33,385) |  | (11) |  | — | ​ | (33,396)
Depreciation and amortization |  | (349,801) |  | (1,916) |  | (38,154) | ​ | (389,871)
Credit loss on trade and other receivables |  | (28,816) |  | (108) |  | — | ​ | (28,924)
Impairment loss on non-current assets |  | (13,485) |  | — |  | — | ​ | (13,485)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended June 30, 2023
​ |  | Reportable |  | ​ |  | ​ |  | ​
​ | ​ | segment | ​ | Other | ​ | Unallocated | ​ | Consolidated
​ | ​ | totals | ​ | segment | ​ | amount | ​ | totals
​ | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000
Finance income |  | 140,778 |  | 2,969 |  | 1,478 |  | 145,225
Finance costs |  | (34,614) |  | (8) |  | — |  | (34,622)
Depreciation and amortization |  | (366,475) |  | (4,339) |  | (20,353) |  | (391,167)
Reversal of credit loss/(credit loss) on trade and other receivables |  | 1,163 |  | (91) |  | — |  | 1,072
Impairment loss on non-current assets |  | (3,448) |  | — |  | — |  | (3,448)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the six months ended December 31, 2023
​ | ​ | Reportable | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | segment | ​ | Other | ​ | Unallocated | ​ | Consolidated
​ | ​ | totals | ​ | segment | ​ | amount | ​ | totals
​ | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000
​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​
Finance income |  | 120,704 |  | 1,911 |  | 1,354 |  | 123,969
Finance costs |  | (25,188) |  | (14) |  | — |  | (25,202)
Depreciation and amortization |  | (277,702) |  | (3,058) |  | (4,481) |  | (285,241)
Credit loss on trade and other receivables |  | (1,803) |  | (277) |  | — |  | (2,080)
Impairment loss on non-current assets |  | (4,547) |  | — |  | — |  | (4,547)
​
(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
​ | ​ | For the year ended June 30, |  | December 31,
​ |  | 2021 |  | 2022 |  | 2023 |  | 2023
​ |  | RMB’000 |  | RMB’000 |  | RMB’000 |  | RMB’000
i. Revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
the PRC (place of domicile) |  | 7,291,219 | ​ | 7,442,156 |  | 7,650,821 | ​ | 4,843,127
Other Asian countries excluding the PRC |  | 961,622 | ​ | 1,174,323 |  | 1,821,080 | ​ | 1,157,261
America |  | 584,630 | ​ | 1,189,119 |  | 1,738,058 | ​ | 1,403,936
Europe |  | 117,214 | ​ | 174,691 |  | 151,496 | ​ | 154,737
Others |  | 116,974 | ​ | 105,360 |  | 111,753 | ​ | 73,406
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 9,071,659 | ​ | 10,085,649 |  | 11,473,208 | ​ | 7,632,467
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | As at
​ | ​ | As at June 30, |  | Decembr 31,
​ | ​ | 2022 | ​ | 2023 |  | 2023
​ |  | RMB’000 |  | RMB’000 |  | RMB’000
ii. Non-current assets |  | ​ |  | ​ | ​ | ​
the PRC (place of domicile) |  | 2,575,241 |  | 2,672,426 | ​ | 3,052,525
Other Asian countries excluding the PRC |  | 63,021 |  | 121,614 | ​ | 166,623
America |  | 204,459 |  | 512,322 | ​ | 644,765
Europe |  | 10,490 |  | 1,859 | ​ | 99,029
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2,853,211 |  | 3,308,221 | ​ | 3,962,942
​ Non-current assets exclude deferred tax assets, non-current prepayments and non-current other investments.

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