Mixue Group, the operator of popular beverage brand Mixue Bingcheng, has reported a net profit of RM 2.708 billion (RMB 4.437 billion) for the year ending December 2024, marking a 41.41% year-on-year increase.
According to Sin Chew Daily and The Business Times, Mixue’s earnings per share now stood at RM 7.52 (RMB 12.32). The company did not declare a final dividend for the year.
Total revenue of RM15 billion
During the period, Mixue recorded total revenue of RM 15.14 billion (RMB 24.829 billion), reflecting a 22.3% increase compared to the previous year.
According to the company’s statement, the gross profit margin from product sales improved from 28.8% in 2023 to 31.6% in 2024.
This improvement was attributed to enhanced supply chain efficiency and a reduction in the procurement costs of certain raw materials.
The company’s gross profit margin for franchise and related services also saw an increase, rising from 79.6% in 2023 to 80.4% in 2024. This growth was largely driven by the continued expansion of its franchise network, which contributed to greater economies of scale.
A total of 46,462 franchise outlets
By the end of 2024, Mixue had a total of 46,462 franchise outlets, reflecting a net increase of 8,946 stores over the year. In contrast, the number of company-owned stores decreased from 49 to 17.
Mixue’s strong performance underscores its growing presence in the global beverage market, with franchise expansion playing a crucial role in its revenue growth and profitability.
