Beijing News Shell Finance News (Reporter Zhao Fangyuan) On November 21, Mingchuang Youpin Group released its unaudited financial report for the first quarter of the 2024 fiscal year. As of September 30, 2023, the group's revenue was RMB 3.791 billion, a year-on-year increase of 36.7%; The adjusted net profit was RMB 642 million, a year-on-year increase of 53.8%.
Among them, domestic revenue exceeded 2.49 billion yuan, a year-on-year increase of 35%, and overseas revenue reached 1.3 billion yuan, a year-on-year increase of 41%. The gross profit margin also exceeded 40% for the first time, reaching 41.8%, an increase of 6.1 percentage points compared to the same period last year.
Behind the above performance growth, the contribution of the store network cannot be underestimated. Mingchuang Youpin stated that as franchisees' confidence in opening stores is gradually recovering, they have achieved the goal of a net increase of 350 to 450 stores in China for the 2023 natural year ahead of schedule, achieving a milestone of exceeding 6000 global stores.
Data shows that as of September 30, 2023, there are 6115 global stores of Mingchuang Youpin. Among them, there are 3802 domestic stores, a year-on-year net increase of 533 and a month on month net increase of 198; There are 2313 overseas stores, a net increase of 286 year-on-year and a net increase of 126 month on month.
In addition, in this fiscal quarter, the Top TOY, a trendy dream factory under Mingchuang Youpin, also achieved performance growth. According to the financial report, TOP TOY's revenue exceeded 180 million yuan this quarter, a year-on-year increase of 46%. At the end of this quarter, there were 122 stores, 5 DreamWorks stores, and 117 collection stores. It is revealed that TOP TOY is exploring various theme park store opening models and will increase the number of such stores in the future to continuously improve offline retail channels.
Ye Guofu, the founder, chairman, and CEO of Mingchuang Youpin, said, "From many aspects, in the first quarter of the 2024 fiscal year ending September 30th, revenue, profit margin, and net store opening all reached historic highs. Looking ahead, we will still focus on long-term strategic goals, firmly promote globalization, strengthen our product strength, and optimize our store network