---
title: "Hong Kong Stock Market News | MNSO surges over 5%, company achieves record high revenue, profit margin, and net store openings in 1QFY24."
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/105445988.md"
description: "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."
datetime: "2024-01-05T01:48:08.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/105445988.md)
  - [en](https://longbridge.com/en/news/105445988.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/105445988.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/105445988.md) | [繁體中文](https://longbridge.com/zh-HK/news/105445988.md)


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

Zhitong App learned that MNSO (09896) rose more than 5%, closing at 5.7%, at HKD 43.6, with a turnover of HKD 30.64 million.

For the first quarter of the fiscal year 2024 ending on September 30, 2023, the company achieved operating revenue of CNY 3.791 billion, a YoY increase of 36.7% and a MoM increase of 16.6%. The operating profit reached CNY 788 million, a YoY increase of 54.7% and a MoM increase of 14.2%. The adjusted net profit was CNY 642 million, a YoY increase of 53.8% and a MoM increase of 12.4%. Shouchuang Securities believes that the company's 1QFY24 revenue, profit margin, and net store opening numbers have reached historical highs, and MNSO in China has achieved its annual store opening target ahead of schedule. In the future, the company will firmly promote globalization and upgrade the MNSO brand in China. It is expected that the company's net profit attributable to shareholders will be CNY 2.38 billion, CNY 2.85 billion, and CNY 3.35 billion for the fiscal years 2024-2026, with YoY growth rates of 34.3%, 19.7%, and 17.7% respectively. The corresponding PE ratios based on the current stock price are 27.89, 23.30, and 19.79 times, and an "accumulate" rating is initially given.

Guosen Securities stated that as a leading global discount retailer, MNSO has achieved rapid performance growth based on excellent product strength and efficient supply chain in the current trend of cost-effective consumption. In the future, with the company's continued promotion of brand upgrades and superstore strategies, the improvement of store efficiency and store expansion are expected to jointly drive sustained high-speed performance growth.

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