Café de Coral Holdings Limited 大家樂集團有限公司" (Incorporated in Bermuda with limited liability) 團隊協作 共創佳績 (於百慕達註冊成立之有限公司) Stock Code 股份代號：341 Spearheading with Unity INTERIM REPORT 2024/25 中期報告 * For identification purposes only 僅便買別 大家樂集團有限公司 2024/25 中期報告 2 Corporate Information 公司資料 4 Highlights 撮要 5 Management Discussion and Analysis 管理層討論及分析 22 Other Information 其他資料 35 Condensed Consolidated Statement of Financial Position (Unaudited) 簡明綜合財務狀況表（未經審核） Contents 目錄 | --- | --- | |-------|---------------------- ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依賴該等內 容而引致的任何損失承擔任何責任。 CAFÉ DE CORAL HOLDINGS LIMITED 大 家 樂 集 團 有 限 公 司* (於百慕達註冊成立之有限公司) 網址: www.cafedecoral.com （股份代號：341） 中期業績公告 截至二零二四年九月三十日止六個月 撮要 ◆ 集團二零二四╱二五年度上半年收入減少 1.2%至 4,264.8 百萬 港元，股東應佔溢利為 144.0 百萬港元，較去年同期減少 28.2%。 ◆ 報告期內，整體經濟低迷，外遊及境外消費持續增加，加上消費 疲軟，令香港市場環境進一步受壓；而中國內地則由於經濟疲軟 而導致激烈的價格競爭，令整體餐飲業出現了比預期更為嚴重的 下滑，衝擊集團業績，加上去年同期疫後銷售強勁復甦，帶來高 基數效應影響。 ◆ 面對種種挑戰，集團積極推出高性價比的餐單組合、優惠推動和 皇牌產品推廣，並加強會員忠誠度計劃，充分發揮其在滿足社區 餐飲基本需求方面的核心優勢；同時持續 ...

に家業 ■ CAFE DE CORAL IN @ Café de Coral Holdings Limited 大家樂集團有限公司 1 (Incorporated in Bermuda with limited liability) (於百慕達註冊成立之有限公司) Stock Code 股份代號 : 341 團 勝 協 作 共創 佳 績 Spearheading with Unity ANNUAL REPORT 2023/24 年報 * For identification purposes only 僅供識別 Table內 中文比英文細0.5PT 注意字元樣式 All Margin and text setting same as previous report. ***Except heading. Otherwise specified. 大家樂集團有限公司 2023/24 年報 Contents 目錄 | | | | | |----|-----------------------------------------------------|-----|------------------------- ...

2024 年 6 月 18 日 CMB 国际全球市场 | 股票研究 | 公司更新 珊瑚咖啡厅 (341 HK) 在疲弱的宏观下获得市场份额 FY24 业绩不错。但是 ， 鉴于这种宏观疲软 （ CDC 实际上已经超越了行业 ） ， 我们不得不下调 目标价 11.15 港元 盈利预测。但是由于我们对新管理层的寄予厚望 ， CDC 的防御性和诱人的股息率 ， 我们维持买 （ 先前 TP 14.82 港元 ） 入。 涨 / 跌 28.4%  香港市场 ： 虽然行业复苏慢于预期 ， 但 CDC 表现优异 ， 但我们对利润率变得稍微谨 现价 8.68 港元中国非必需消费品 慎。在当前的宏观不利因素 （ 高利率，房地产市场持续压力，更多香港人出国或前往中 沃尔特 · 吴 国大陆 ） 下，香港零售和餐饮销售的复苏均弱于预期。然而，就细分市场而言，快餐已 (852) 3761 8776 经是最具弹性的，2024 年 1 月至 2 月的回收率为 102% (与 2019 年相比)，远高于中餐 / 非中餐 / 整体市场的 75% / 91% / 87% 。最重要的是，我们认为，由于推出了更多创新 产品和更好的营销，CDC 也开始 ...

18 Jun 2024 Earnings Summary CMB International Global Markets | Equity Research | Company Update Cafe De Coral (341 HK) Gaining market share under a weak macro FY24 results were decent. However, given such macro weakness (CDC has actually outperformed the industry), we have to trim our earnings forecast. But because of our high hope of the new management, CDC's defensive nature and its attractive dividend yield, we maintain BUY. HK market: While the industry recovery is slower than expected, CDC has outperf ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依賴該等內 容而引致的任何損失承擔任何責任。 CAFÉ DE CORAL HOLDINGS LIMITED 大 家 樂 集 團 有 限 公 司* (於百慕達註冊成立之有限公司) 網址: www.cafedecoral.com （股份代號：341） 全年業績公告 截至二零二四年三月三十一日止年度 | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | 撮要 | | 集團全年收入增加至 8,691.4 百萬港元（二零二二╱二三年度： 8,024.0 百 ...

® FE DE CORA Café de Coral Holdings Limited 大家樂集團有限公司 (Incorporated in Bermuda with kimited liability) (於百慕連註冊成立之有限公司) Stock Code 股份代號 : 341 INTERIM REPORT 2023/24 中期報告 sure * For identification purposes only 谋供盐別 大家樂集團有限公司 2023/24 中期報告 Contents 目錄 | --- | --- | --- | |-------|---------------------------------------------------------------|-------------------------------------| | | | | | 2 | Corporate Information 公司資料 | | | 4 | Highlights 撮要 | | | 5 | Management Discussion and Analysis 管理層討論及分析 | | | 17 | O ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任 何損失承擔任何責任。 CAFÉ DE CORAL HOLDINGS LIMITED 大 家 樂 集 團 有 限 公 司* (於百慕達註冊成立之有限公司) 網址: www.cafedecoral.com （股份代號：341） 中期業績公告 截至二零二三年九月三十日止六個月 撮要 ◆ 集團於二零二三╱二四年度上半年的收入增加 10.8%至 4,318.6 百萬 港元，股東應佔溢利增加 84.4%至 200.6 百萬港元，若撇除去年獲政 府發放的新冠肺炎疫情資助，回顧期內集團股東應佔溢利約為去年 同期三倍。 ◆ 香港業務表現顯著回升，全賴出色的營運策劃、精心設計的產品和餐 單選擇，以及成功的品牌形象企劃及營銷推廣活動，推動香港業務快 速增長。速食餐飲業務的利潤率大幅改善，主要得益於積極控制營運 成本、提升人員生產力、加強供應鏈管理和策略性採購，以及推動數 碼化和自動化取得成效。 ◆ 中國內地業務取得令人鼓舞的業績，尤其在第二季度。 ...

Financial Performance - Revenue for the year ended 31 March 2023 reached HK$8,024.0 million, a 6.9% increase compared to the previous year[7] - Profit attributable to equity holders of the company surged to HK$110.4 million, a 420.2% increase year-over-year[7] - Basic earnings per share rose to HK$0.19, a 375.0% increase from HK$0.04 in the previous year[7] - Total assets increased by 4.4% to HK$7,175.3 million as of 31 March 2023[7] - Net assets per share decreased slightly by 1.2% to HK$4.77[7] - Interim and final dividends per share increased by 35.7% to HK38 cents[7] - Group revenue increased by 6.9% to HK$8,024.0 million for the year ended 31 March 2023, compared to HK$7,508.8 million in FY2021/22[21][30] - Profit attributable to shareholders rose to HK$110.4 million, up from HK$21.2 million in FY2021/22, including HK$40.9 million in COVID-19 subsidies received during the year[21][30] - Revenue increased by 6.9% to HK$8,024.0 million in FY2022/23 compared to HK$7,508.8 million in FY2021/22[35][36] - Gross profit margin rose to 8.8% in FY2022/23 from 7.3% in FY2021/22, driven by better control of food and labor costs[38][39] - Profit attributable to equity holders surged 420.2% to HK$110.4 million in FY2022/23 from HK$21.2 million in FY2021/22, primarily due to business recovery[42] - Adjusted net profit increased by 165.1% to HK$69.5 million in FY2022/23 compared to a loss of HK$106.6 million in FY2021/22[43] - Basic earnings per share surged by 375.0% to HK19 cents in FY2022/23[43] - The Group's dividend payout ratio reached 201.7% for the year, with a final dividend of HK28 cents per share[43] - The company paid an interim dividend of HK10 cents per share and proposed a final dividend of HK28 cents per share, totaling approximately HK$163,997,000[170] - Distributable reserves of the company as of 31 March 2023 amounted to approximately HK$971,586,000[171] COVID-19 Impact and Recovery - The company faced challenges from the fifth wave of COVID-19 and slower-than-anticipated economic recovery in Hong Kong[9] - A nationwide COVID-19 outbreak in Mainland China during the third quarter significantly impacted the company's business[9] - The company achieved a solid return to growth following the worst of the COVID-19 pandemic[9] - Hong Kong business improved from Q2 2023, but H2 results were impacted by slower-than-expected economic recovery and a nationwide COVID-19 outbreak in Mainland China[22][23][30] - Mainland China business experienced a V-shaped recovery in early 2023 following the relaxation of pandemic controls, with healthy overall performance and satisfactory network expansion progress[23][33] - Greater Bay Area business in Mainland China was seriously impacted by COVID-19 outbreaks but returned to normal levels from mid-January 2023[33] - The Group received HK$40.9 million in COVID-19 subsidies in FY2022/23, down from HK$127.8 million in FY2021/22[42] - The Group's business in Hong Kong improved from the second quarter of FY2022/23, despite slower economic recovery and COVID-19 impacts[166] - Mainland China experienced a V-shaped recovery in business from mid-January following the relaxation of pandemic-related controls[167] - Hong Kong business performance improved in the second quarter of the fiscal year, but the recovery pace was slower than expected, impacting overall performance[169] - Mainland China business was severely affected by nationwide COVID-19 outbreaks in the third quarter, but experienced a V-shaped recovery starting mid-January[169] Business Expansion and Market Development - The company is expanding into new markets beyond traditional dining and commercial districts, including residential zones in the Greater Bay Area[15] - The company aims to improve profit margins in Hong Kong and expand its shop network in Mainland China over the next three years, though timelines may need adjustment due to pandemic challenges[16] - The company successfully changed consumer habits in Zhongshan by introducing a new breakfast service, attracting customers who traditionally ate breakfast at home[15] - The company's Club 100 CRM program has built direct relationships with loyal customers and driven repeat visits[15] - The company opened 20 new shops in Mainland China during the fiscal year, with 7 more in the pipeline[58] - The company's CRM membership project attracted over 3 million members, with digital marketing efforts boosting sales[59] - The Group expanded its store network to 376 stores in Hong Kong and 153 stores in Mainland China as of 31 March 2023[44][46] - The Group opened 13 new Café de Coral fast food stores and 6 new Super Super Congee & Noodles stores during the year[49] - The company's digital promotion efforts, including a TikTok campaign, attracted over 70 million online views and contributed to sales growth[60] - The company's CRM membership program has attracted over 3 million members, with a focus on increasing membership and engaging existing members through various activities[60] - The Group expects to accelerate new store openings in Mainland China as the economy recovers, focusing on the Greater Bay Area and Macau[66] - The Group is expanding its Café de Coral fast food network by strategically mapping house brands to suitable locations[66] Operational Efficiency and Digitalization - The company's digitalization and automation efforts are expected to strengthen margins and enhance productivity[12] - The company's marketing campaigns have improved sales and enhanced brand value and reputation as an industry leader[12] - Hong Kong business focused on cost control, digitalization, and automation, leading to improved margins and productivity[22][30] - The Group introduced a new smaller store format to reduce running costs and improve operating margins[49] - Digitalization efforts, including enhanced mobile ordering apps and serving robots, significantly improved customer experience and operational efficiency[49] - Robots have been deployed in 49 stores to improve operational productivity and enhance customer experience[59] - The company has introduced robots in 49 stores in Mainland China to enhance operational efficiency and provide high-tech entertainment for families with children[60] - The Group's digitalization efforts are key to building brand affiliation and integrating customer experiences through an Omni-channel strategy[66] Corporate Governance and Leadership - The company's management transition has been successful, leading to continuous improvement in business fundamentals[9] - The company's management team is focused on building, operating, and optimizing a multi-brand business strategy[15] - The company is experimenting with new ideas to build a stronger and more resilient business as it transitions to a new management team[19] - The Board and management focus on high standards of corporate governance, aiming to safeguard shareholder interests and ensure the Group's long-term sustainability[82] - The Company complied with all provisions of the Corporate Governance Code and adopted recommended best practices for the year ended 31 March 2023[83] - The company's corporate culture emphasizes continuous learning, innovation, and adaptability to changing environments, aiming to bring happiness to customers, employees, and shareholders[85] - The management team upholds high standards of governance, transparency, and integrity, guided by core values such as Pursuit of Excellence, People-Oriented, and Creating Sustainable Value[86] - The Board of Directors consists of ten members, including four Non-executive Directors, four Independent Non-executive Directors, and two Executive Directors, ensuring a balanced composition and diverse expertise[89] - The Chairman, Mr. Lo Hoi Kwong, and the Chief Executive Officer, Mr. Lo Tak Shing, have clearly defined responsibilities outlined in the Board Charter, with the Chairman leading the Board and the CEO overseeing the implementation of the Group's strategies and daily operations[91] - The company has a strong governance framework, disciplined risk management, and effective internal controls, which support long-term value creation for shareholders through sustainable business development[89] - The Board periodically evaluates its performance with the assistance of external professional advisors to enhance effectiveness and corporate governance, focusing on areas such as corporate vision, strategy, and management succession[91] - The Non-executive and Independent Non-executive Directors contribute independent judgment and strategic decision-making, with their independence confirmed annually under the Listing Rules[93] - The Board ensures mechanisms are in place to facilitate independent views and inputs, which are reviewed regularly to maintain effectiveness[94] - The Board maintains a balanced composition with 2 female Directors out of 10, including a newly appointed female Independent Non-executive Director during the year[98][101] - The Group's workforce gender ratio in Hong Kong is 75.8% female and 24.2% male, while in Mainland China it is 65.2% female and 34.8% male[99][102] - The Nomination Committee conducts annual reviews of Independent Non-executive Directors' independence and the Board's structure, size, and composition[96][97] - Directors receive regular updates and presentations on the Group's business developments and regulatory changes to facilitate their responsibilities[107] - Newly appointed Directors receive a comprehensive induction package and meetings with external legal advisers to ensure awareness of their responsibilities[106] - The Board Diversity Policy aims to achieve diversity through measurable objectives in skills, experience, cultural background, gender, and age[97] - Independent Non-executive Directors are remunerated by fixed fees and do not participate in the Company's share schemes[97] - The Board conducts periodic performance evaluations to enhance the operations of the Board and its Committees[97] - The Chairman of the Board meets regularly with Independent Non-executive Directors outside the boardroom[97] - Directors are entitled to seek in-house and independent professional advice at the Company's expense[97] - Ms Fang Suk Kwan, Katherine was appointed as an Independent Non-executive Director on 3 January 2023[111] - The Board is responsible for providing overall strategic direction and effective oversight of management, including approval of strategic and business plans, financial budgets, and significant transactions[112] - The Board has delegated authority to the Management Board for day-to-day operations, including development and implementation of corporate strategy, business plans, and financial budgets[114] - The Board has established the Nomination Committee, Remuneration Committee, and Audit Committee to assist in discharging its functions, with each committee having specific written terms of reference[115] - The Nomination Committee currently comprises five Directors, with the majority being Independent Non-executive Directors[116] - The Nomination Committee held three meetings during the year to review the Board's structure, size, and composition, focusing on diversity and independence of Independent Non-executive Directors[120] - The Remuneration Committee held two meetings to review and recommend remuneration packages for Executive Directors and senior management, with a significant proportion linked to corporate and individual performance[124] - The Audit Committee held four meetings to review financial information, oversee financial reporting systems, and assess risk management and internal control systems[127] - The Remuneration Committee recommended the adoption of a new share option scheme and the grant of share options[125] - The Audit Committee reviewed the independence and engagement of the external auditor, as well as their remuneration for audit and non-audit services[127] - The Nomination Committee prepared and nominated a new Independent Non-executive Director for appointment[120] - The Remuneration Committee considered remuneration policies and strategies for the Group[125] - The Audit Committee reviewed the Company's ESG reporting and internal audit processes[127] - The Audit Committee approved the Company's connected transactions and conducted an annual review of continuing connected transactions[127] - The Remuneration Committee recommended the renewal of Directors' and officers' liability insurance policy[128] - The Board held four regular meetings during the year to review the Group's development directions and strategies[130] - Directors' attendance rates for Board Meetings, Board Committee Meetings, and Annual General Meetings were consistently high, with most directors attending all scheduled meetings[131] - The company paid a total of HK$5,078,000 to its external auditor, PricewaterhouseCoopers, including HK$3,593,000 for audit services and HK$1,485,000 for non-audit services such as taxation and information system advisory services[137] - The Board is responsible for evaluating and determining the nature and extent of risks according to its risk appetite, ensuring the establishment of effective risk management and internal control systems[138] - The company's risk management and internal control systems are based on internationally recognized standards and designed to manage, but not eliminate, the risk of failure to achieve business objectives[139] - The Group's risk governance structure is based on the "3 lines of defence" model, including day-to-day operational management, risk and compliance oversight, and independent assurance[140] - The enterprise risk management (ERM) policy clearly defines the roles and responsibilities of the Board, Audit Committee, Management Board, department and operation heads, and Internal Audit[140] - The Group's ERM approach is a structured mechanism for identifying, evaluating, prioritizing, managing, and monitoring risks, categorized into strategic, operational, financial, and compliance risks[143] - Key risks managed and monitored during the year included food safety, supply chain management, site acquisition, project management, and human resources management[146] - Climate change is considered an emerging risk, and further actions will be taken if it becomes a significant threat to business operations[146] - The Board conducted an annual review of the effectiveness of the Group's risk management and internal control systems for the year ended 31 March 2023, covering financial, operational, and compliance controls[146] - The Audit Committee reviewed the adequacy of resources, staff qualifications, experience, training programs, and budget for internal audit, accounting, financial reporting, and ESG performance and reporting[146] - The Group's Internal Audit team, co-sourced with external consultants, provides independent, objective assurance and consulting services on risk management and internal control[143] - Risk owners are required to submit risk alerts with mitigation plans and regular risk reports to the Management Board and Audit Committee for ongoing review and monitoring[146] - The Board received confirmation from the Management Board on the effectiveness of the risk management and internal control systems, with no significant areas of concern identified[146] - The Group has adopted a clear anti-corruption policy and provides ongoing anti-corruption training to ensure compliance and ethical behavior among employees[147] - The Company has established a Protocol on Malpractice Reporting and Investigation, allowing employees and business partners to report concerns confidentially, with reports directly handled by the Head of Internal Audit[147] - The Company adheres to the Model Code for Securities Transactions by Directors of Listed Issuers, with all Directors confirming compliance during the year ended 31 March 2023[147] - The Group's Disclosure Policy ensures timely and equal dissemination of inside information, with a dedicated Disclosure Team responsible for evaluating and approving disclosures[148] - The Company Secretaries provide governance support to the Board and ensure compliance with professional training requirements under the Listing Rules[149] - The Company's Dividend Policy aims to provide regular and stable dividends, with payouts based on profit available for distribution, historical payout ratios, and consideration of business performance and market conditions[153] - The Shareholders' Communication Policy ensures effective communication with shareholders through various channels, including meetings, publications, and conferences, with regular feedback reported to the Board[154] - The Company had 551 registered shareholders as of 31 March 2023[160] - 24.501% of registered shareholders held 0–1,000 shares, totaling 11,012 shares (0.002% of total issued shares)[162] - 44.827% of registered shareholders held 1,001–5,000 shares, totaling 647,245 shares (0.110% of total issued shares)[162] - 11.615% of registered shareholders held 5,001–10,000 shares, totaling 541,800 shares (0.093% of total issued shares)[162] - 14.701% of registered shareholders held 10,001–100,000 shares, totaling 2,593,937 shares (0.443% of total issued shares)[162] - 4.356% of registered shareholders held 100,001 or more shares, totaling 581,910,039 shares (99.352% of total issued shares)[162] - HKSCC Nominees Limited held 403,673,838 shares as of 31 March 2023[163] - The Company maintained the required 25% public float throughout the financial year ended 31 March 2023[163] - The company's sustainability performance is disclosed in four key pillars: Catering to Customers, Empowering Employees, Focusing on Food, and Preserving the Planet[170] - No purchase, sale, or redemption of listed securities by the company or its subsidiaries during the year ended 31 March 2023[172] - No outstanding convertible securities, options, warrants, or similar rights as of 31 March 2023, except for the Share Option Schemes described in the report[172] - The 2012 Share Option Scheme expired on 10 September 2022, with no share options granted under the scheme as of the report date[178] - The company maintains liability insurance to provide appropriate cover for directors and officers of the group[175] - No management contracts for the administration of the company's business were entered into or existed during the year[176] - No arrangements enabling directors to acquire benefits through shares or debentures of the company or any other body corporate during the year ended 31 March 2023[177] - Total number of ordinary shares available for issue is 58,570,403, representing 10% of the issued shares as of the report date[186] - 24,870,000 share options have been granted under the 2022 Scheme as of the report date[187] - The 2022 Scheme will remain in force until 7 September 2032 unless terminated earlier[190] - The exercise price of options granted is determined based on the highest of: (i) the closing price on the grant date, (ii) the average closing price for the five business days preceding the grant date, and (iii) the nominal value of a share[190] - The maximum entitlement for each participant under the 2022 Scheme shall not exceed 1% of the shares in issue in any 12-month period[189] - The vesting period of options granted is determined at the discretion of the Board[190] - The amount payable on acceptance of the options is HK$1.00[190] - The 2012 Scheme expired on 10 September 2022[182] - The purpose of the share option schemes is to attract and retain high-quality personnel and align the interests of grantees with shareholders[184] - The 2022 Scheme was adopted on 8 September 2022 following a shareholders' resolution[187] - 24,870,000

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性 亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依賴該等內容而引致 的任何損失承擔任何責任。 CAFÉ DE CORAL HOLDINGS LIMITED 大 家 樂 集 團 有 限 公 司* (於百慕達註冊成立之有限公司) 網址: www.cafedecoral.com （股份代號：341） 全年業績公告 截至二零二三年三月三十一日止年度 | --- | |---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | 撮要 | | 集團全 ...