Hong Kong Stock Market News | MNSO surges over 5%, company achieves record high revenue, profit margin, and net store openings in 1QFY24.

MNSO's financial performance for the first quarter of the 2024 fiscal year, ending on September 30, 2023, was impressive. The company achieved a revenue of CNY 3.791 billion, a YoY growth of 36.7% and a MoM growth of 16.6%. Both operating profit and net profit saw significant increases, and the number of new stores reached a historical high. The company plans to promote globalization and upgrade the MNSO brand in China. It is expected that the company will continue to achieve sustained growth in the coming years. Guosen Securities believes that as a leading global discount retailer, MNSO is expected to continue to grow its performance in the current trend of cost-effective consumption.