Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue was RMB 1,717.29 million, a decrease of 5.4% compared to RMB 1,815.41 million in 2023[12]. - Restaurant business sales amounted to RMB 1,649.83 million, down 4.9% from RMB 1,734.20 million in the previous year[12]. - The company reported a gross profit of RMB 1,313.65 million, reflecting a decline of 4.3% from RMB 1,373.33 million in 2023[12]. - The net loss attributable to shareholders was RMB 20.22 million, compared to a profit of RMB 181.19 million in the prior year[12]. - The proposed final dividend per share is RMB 0.06, down 25.0% from RMB 0.08 in the previous year[12]. - The group's revenue decreased by 5.4% to RMB 1.72 billion in 2024 due to economic downturn and increased competition in the restaurant industry[15]. - The company recorded a loss attributable to shareholders of RMB 20.224 million for the year, with a proposed dividend of RMB 0.06 per share, consistent with 2022 levels[15]. - The group recorded a net other loss of approximately RMB 131,500,000 for the year ended December 31, 2024, compared to a net other income of approximately RMB 32,663,000 in 2023, primarily due to fair value losses on investment properties[39]. - The group reported a pre-tax loss of approximately RMB 50,132,000 for the year ended December 31, 2024, compared to a pre-tax profit of approximately RMB 247,875,000 in 2023[41]. Operational Metrics - The total number of restaurants increased by 6.0% to 596, up from 562 in 2023[12]. - The total number of stores increased from 562 at the end of 2023 to 596 by the end of 2024, after closing 55 underperforming locations and opening 89 new stores[16]. - Membership numbers reached 36.25 million, generating RMB 653 million in revenue, with a focus on personalized services based on consumer behavior analysis[18]. - Online delivery revenue increased by 9% to RMB 377 million in 2024, accounting for 25.6% of the revenue from restaurants with delivery services[16]. Cost Structure - The proportion of raw material costs decreased from 24.4% in 2023 to 23.5% in 2024, while labor costs slightly increased to 27.9% of revenue (2023: 26.2%) and fixed costs rose to 29% (2023: 25%) due to revenue decline[15]. - Employee costs rose to approximately RMB 479.5 million, an increase of 0.8% from RMB 475.8 million in 2023, with employee costs accounting for 27.9% of revenue[33]. - Other operating expenses increased by 9.7% to approximately RMB 497.8 million, driven by higher consulting and advertising costs[35]. Financial Position - The company's net cash position stood at RMB 1,655.8 million, an increase of 3.0% from RMB 1,607.6 million in the previous year[12]. - As of December 31, 2024, the group's bank balance was approximately RMB 1,655,833,000, an increase from RMB 1,607,635,000 as of December 31, 2023, with a current ratio of 3.7[47]. - The group maintained a low debt-to-asset ratio of 0.9% as of December 31, 2024, with total borrowings of approximately RMB 34,609,000[47]. - The group's net current assets were approximately RMB 1,367,091,000 as of December 31, 2024, with a current ratio of 3.7[53]. Corporate Governance - The board emphasizes the importance of good corporate governance practices for effective operation and shareholder protection, ensuring ethical business conduct and sustainable development[57]. - The company has adopted the Corporate Governance Code and complied with all applicable provisions, except for a deviation regarding the separation of the roles of Chairman and CEO[58]. - The board consists of eight members, including three independent non-executive directors, ensuring a strong independent structure[63]. - The company has implemented a fair disclosure policy to communicate information broadly and non-exclusively to the public[61]. - The board reviews its governance framework annually to ensure its effectiveness[67]. Risk Management - The management is responsible for designing, implementing, and maintaining the risk management and internal control systems to safeguard the company's assets[112]. - Key risk management activities include identifying major risks affecting the company's performance and implementing measures to manage and mitigate these risks[113]. - The internal audit function provides independent assurance on the adequacy and effectiveness of the company's risk management and internal control systems[114]. - The audit committee has reviewed the independence of the external auditor and confirmed their objectivity and effectiveness in the audit process[106]. Environmental, Social, and Governance (ESG) - The company emphasizes the importance of environmental, social, and governance (ESG) matters for its long-term sustainable development[141]. - The board has established an ESG working group to coordinate the implementation of ESG measures and report progress regularly[141]. - The company aims to further enhance its ESG management framework and set specific sustainable development goals and action plans[142]. - The company has identified 21 relevant environmental, social, and governance issues through a stakeholder communication mechanism and conducted a materiality assessment[146]. - The company has implemented green low-carbon production measures to actively reduce its operational environmental footprint[150]. Employee Metrics - The total number of employees in the group is 7,396, primarily engaged in restaurant operations and related product sales[170]. - A total of 9,880 employees received training, representing 126.62% of the total workforce, with an average of 50.65 hours of training per employee[173]. - The percentage of female employees increased to 64.53% in 2024 from 63.06% in 2023, showing a growth of 1.47 percentage points[193]. - The company maintained a total of 3,670 full-time employees in 2024, which is an increase from 3,065 in 2023, reflecting a growth of approximately 19.7%[193].

随着我国经济水平的飞速发展，老百姓的生活水平也显著提高，以前只求吃得饱，现在要求吃的好，在这种消费观念的转变下，高端面馆应运而生。 但随着老百姓消费观念的变化，这些高端面馆也由曾经40元一碗的拉面馆门庭若市，变成了如今降到16元仍没有人买单的尴尬局面。 甚至某品牌三年烧了7亿，关了将近一半门店，才艰难保住盈亏，那么市场是不允许这些高端面馆的存在？还是这些高端面馆自身存在问题？ 高端面馆的危机 1996年，带着独特独特的味千拉面开始进军中国市场，当时因为其令人耳目一新的设计风格，以及独特的服务里面，迅速赢得了消费者的喜爱。 不过30年前的中国，餐饮市场还是比较传统的，而味千拉面这种前卫的经营，确实容易比较立足。 再加上味千拉面的店铺设计也比较前卫独特，加上人家贴心的服务，哪怕是贵点消费者也能接受，一时间，味千拉面就成为了中国餐饮市场的明星企业。 不过随着中国经济的发展，中国的餐饮业也迎来了最为辉煌的时期，而味千拉面因为早早的在中国布局，所以在2010年的时候，人家的营业额就突破了22.8 亿元，净利润更是达到了3.8亿元，净利率高达惊人的16.7%。 这样的成绩，哪怕是麦当劳和肯德基这样的国际餐饮巨体都得望其项 ...

Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 1,717,290, a decrease of 5.4% compared to RMB 1,815,406 in 2023[2] - Restaurant business sales decreased by 4.9% to RMB 1,649,827 from RMB 1,734,200 in the previous year[2] - Operating profit plummeted by 88.2% to RMB 14,915 from RMB 126,842 in 2023[2] - The company reported a pre-tax loss of RMB 50,132, compared to a profit of RMB 247,875 in the previous year[3] - Basic loss per share was RMB (0.02), down from earnings of RMB 0.17 in 2023[4] - The total comprehensive income for the year was RMB 412, a significant drop from RMB 200,378 in 2023[3] - Revenue from external customers in mainland China for the year ended December 31, 2024, was RMB 1,511,068,000, a decrease of 6.1% from RMB 1,609,482,000 in 2023[19] - The company reported a loss attributable to shareholders of RMB 20,224,000 for the year 2024, compared to a profit of RMB 181,188,000 in 2023[30] - The group recorded a pre-tax loss of approximately RMB 50,132,000 for the year ended December 31, 2024, compared to a pre-tax profit of approximately RMB 247,875,000 in 2023[64] Assets and Liabilities - Non-current assets decreased to RMB 2,111,537 from RMB 2,059,582 in 2023[5] - Total liabilities increased to RMB 511,161 from RMB 436,383 in the previous year[6] - Total non-current assets as of December 31, 2024, amounted to RMB 1,866,059,000, an increase of 1.8% from RMB 1,832,628,000 in 2023[19] - The total trade receivables for 2024 amount to RMB 16,478,000, down from RMB 31,110,000 in 2023, reflecting a decrease of approximately 47.2%[35] - The total other receivables for 2024 is RMB 142,339,000, slightly down from RMB 146,742,000 in 2023[35] - The total trade and other payables for 2024 is RMB 251,204,000, a slight increase from RMB 249,488,000 in 2023[38] - The group's bank balance as of December 31, 2024, was approximately RMB 1,655,833,000, an increase from RMB 1,607,635,000 in 2023, with a current ratio of 3.7[72] - As of December 31, 2024, the group's net current assets amounted to approximately RMB 1,367,091,000, with a current ratio of 3.7 (compared to 4.1 as of December 31, 2023)[78] Dividends and Shareholder Returns - The company proposed a final dividend of RMB 0.06 per share, down from RMB 0.08 in 2023[2] - The company declared a final dividend of RMB 0.06 per share for the year 2024, down from RMB 0.08 per share in 2023, totaling RMB 65,492,000[28] - The record date for shareholders entitled to receive the proposed final dividend is May 29, 2025, with a suspension of share transfer registration from May 27 to May 29, 2025[91] Operational Highlights - The total number of restaurants increased to 596 from 562 in the previous year[2] - The restaurant business generated revenue of approximately RMB 1,649.8 million, accounting for about 96.1% of the total revenue, compared to 95.5% in 2023[46] - The average per capita disposable income in China increased by 5.1% year-on-year to RMB 41,314 during the reporting period[41] - National restaurant revenue reached RMB 55,718 million, growing by 5.3% year-on-year, which is higher than the GDP growth rate[42] - The company is focusing on digital transformation and enhancing operational efficiency through the implementation of smart restaurant systems[44] - The company plans to continue optimizing its store network and enhancing product innovation to improve brand competitiveness[44] - The company emphasizes food safety and quality control through its five production bases in mainland China[45] Costs and Expenses - The total employee costs for 2024 were RMB 479,456,000, slightly up from RMB 475,830,000 in 2023[25] - Other operating expenses increased by approximately 9.7% to about RMB 497,793,000 from RMB 453,966,000 in 2023, driven by an increase in store numbers and significant growth in consulting and advertising expenses[57] - Other income for the year 2024 was RMB 88,981,000, down 19.0% from RMB 109,842,000 in 2023[21] - Financing costs increased by approximately 17.8% to about RMB 22,593,000 from RMB 19,178,000 in 2023, due to increased lease liabilities[63] Investment and Impairment - The investment holding segment reported a loss of RMB 60,482,000, which includes losses from associates and joint ventures totaling RMB 177,000,000[16] - The fair value loss on investment properties for 2024 was RMB 101,253,000, compared to a gain of RMB 8,822,000 in 2023[23] - The company has recognized a total impairment loss of RMB 987,000 for its investment in Guangzhou Yunyi for the year ended December 31, 2023, resulting in a carrying amount of zero[33] - The impairment loss recognized for the year ended December 31, 2024, is RMB 6,429,000, while there was no impairment loss in 2023[32] Future Outlook and Governance - The company expects that the adoption of new Hong Kong Financial Reporting Standards will not have a significant impact on the consolidated financial statements in the foreseeable future[9] - The company has not early adopted several new Hong Kong Financial Reporting Standards that are expected to come into effect in the coming years[9] - The company is currently evaluating the detailed impact of the new Hong Kong Financial Reporting Standard No. 18 on its consolidated financial statements[10] - The audit committee is satisfied with the independence of the auditor, Deloitte, and has recommended their reappointment for the year 2025, subject to shareholder approval[87] - The annual general meeting will be held on May 20, 2025, with a record date for attendance and voting set for May 15, 2025[89] - The annual results announcement and annual report will be published on the company's website and the Hong Kong Stock Exchange website, containing all relevant information as required by listing rules[92]

ol ® AJISEN RAMEN 味千(中國)控股有限公司 AJISEN (CHINA) HOLDINGS LIMITED (Incorporated in the Cayman Islands with Limited Liability) (於開曼群島註冊成立的有限公司) | --- | --- | --- | |-------|----------------------------------|------------------------------| | | Stock Code 股份代號 : 538 | | | | | | | | SINCE 1968 全球面馆乡 - 微量产品 | | | | | 全球面馆 品留版 | | | | 2024 中期報告 INTERIM REPORT | 目錄 公司簡介 1 公司資料 2 財務摘要 4 管理層討論及分析 5 簡明綜合財務報表審閱報告 13 簡明綜合損益及其他全面收益表 14 簡明綜合財務狀況表 16 簡明綜合權益變動表 18 簡明綜合現金流量表 19 簡明綜合財務報表附註 20 其他資料 44 公司簡介 味千（中國）控股有限公司（股份代號：538 ...

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份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Ajisen (China) Holdings Limited 味千（中國）控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：538） 截至二零二四年六月三十日止六個月之 中期業績公告 | --- | --- | --- | --- | |----------------------------|----------------|------------------------|----------------| | | | | | | 二零二四年中期業績摘要 | | | | | | | 截至六月三十日止六個月 | | | | 二零二四年 | 二零二三年 | 增加╱ （減少） | | | （人民幣千元） | （人民幣千元） | % | | 營業額 | 826,790 | 884,847 | (6.6) | | 餐廳業務銷售 | 792,194 | 842,594 | (6.0) | | 毛利 ...

Corporate Governance - The company has established a whistleblowing policy updated on March 27, 2024, to provide employees a channel for reporting concerns while protecting them from retaliation[3]. - The internal control system has been confirmed to provide reasonable assurance against significant financial misstatements or losses as of December 31, 2023[4]. - The board acknowledges its responsibility to ensure that financial statements are prepared in accordance with the Hong Kong Companies Ordinance, reflecting the group's affairs and profitability accurately[5]. - The audit committee regularly reviews arrangements for reporting misconduct related to financial reporting and internal controls[2]. - The board has accepted recommendations from the audit committee to enhance the internal audit function[1]. - The company has a zero-tolerance policy for bribery and corruption, ensuring compliance with ethical standards and legal regulations[67]. - The company has established specific policies regarding potential conflicts of interest, anti-money laundering measures, and procurement management to ensure compliance with relevant laws[140]. - The independent non-executive directors confirmed their independence as per the listing rules[176]. Shareholder Communication - The company emphasizes the importance of maintaining effective communication with shareholders through its shareholder communication policy[9]. - The company has two websites to facilitate effective communication and provide the latest operational and financial information to the public[9]. Financial Performance - The company has adopted a dividend policy that aims to provide reasonable returns to shareholders, even during financial downturns caused by the COVID-19 pandemic[15]. - Proposed final dividend per share for 2023 is RMB 0.08, up from RMB 0.06 in 2022, indicating a 33.3% increase[122]. - The company reported a significant increase in revenue over the past five fiscal years, with detailed performance metrics available on page 188 of the annual report[127]. - The company's available reserves as of December 31, 2023, amounted to RMB 156,552,000, a decrease from RMB 223,643,000 in 2022[146]. Environmental, Social, and Governance (ESG) Practices - The company is committed to environmental, social, and governance (ESG) practices, as highlighted in its 2023 ESG report[17]. - The group plans to regularly measure and disclose environmental performance to identify opportunities for improvement and gradually set environmental goals for sustainable development[23]. - The group has identified 21 significant environmental, social, and governance issues relevant to its operations through independent consultants[23]. - The group is committed to promoting a green low-carbon philosophy and exploring more environmental protection policies and measures[53]. - The group will develop climate change-related policies and conduct risk assessments to identify and respond to significant climate-related risks and opportunities[54]. - The company is committed to sustainable and environmentally friendly practices as part of its corporate social responsibility[142]. - The company has implemented policies to manage environmental and social risks within its supply chain, with details on page 44-45[133]. Employee Engagement and Training - The group encourages employees to participate in external training and provides educational funding and government training subsidies to enhance their skills[38]. - A total of 310 employees received training during the reporting period, accounting for 4.20% of the total workforce, with an average training duration of 0.85 hours per employee[63]. - The group has implemented a performance management system to regularly evaluate employee capabilities and performance, using results for promotions and salary adjustments[32]. - The number of training hours per employee dropped from 1.39 hours in 2022 to 0.81 hours in 2023, reflecting a decrease in training engagement[79]. - The number of employees receiving training decreased from 956 in 2022 to 310 in 2023, a decline of approximately 68%[79]. Health and Safety - The group emphasizes the importance of occupational safety and health, providing training and insurance to ensure employee well-being[37]. - During the reporting period, there were 110 work-related injury cases, resulting in an injury rate of 0.11 per 1,000 employees and a total of 97 lost workdays[37]. - The injury rate decreased dramatically from 1.53 per 1,000 employees in 2022 to 0.11 in 2023, indicating improved workplace safety[79]. - The company reported zero fatalities due to work-related incidents in both 2022 and 2023, maintaining a safety record[79]. Environmental Impact - The total water consumption of the group during the reporting period was 131,992.80 cubic meters, with a water consumption density of 17.89 cubic meters per employee[52]. - The group emitted a total of 14,631.83 tons of carbon dioxide equivalent greenhouse gases, with a greenhouse gas emission density of 1.98 tons per employee[50]. - Total greenhouse gas emissions increased to 14,631.83 tons of CO2 equivalent in 2023, up from 7,968.90 tons in 2022, representing an 83.6% increase[98]. - The total amount of hazardous waste decreased to 0.00 tons in 2023 from 0.86 tons in 2022, indicating a 100% reduction[98]. - The total energy consumption was 17,564.94 MWh in 2023, compared to 15,469.51 MWh in 2022, which is a 13.5% increase[98]. - The total packaging material consumption was 1,548.00 tons in 2023, down from 1,692.00 tons in 2022, reflecting an 8.5% decrease[100]. Community Engagement - The group aims to strengthen community engagement and explore social investment opportunities to contribute positively to society[71]. - The company invested HKD 19,200 in community support initiatives during the reporting period, demonstrating commitment to corporate social responsibility[96]. Supplier Management - The group emphasizes the importance of supplier management to ensure the provision of quality and safe products and services[63]. - The group requires suppliers to sign a food quality safety commitment and comply with relevant standards to ensure raw materials meet safety requirements[43]. - The group encourages suppliers to adopt environmentally friendly practices and materials, promoting green procurement initiatives[64]. Employee Demographics - The total number of employees increased to 7,380 in 2023, up from 6,542 in 2022, representing a growth of 12.8%[75]. - The percentage of female employees is 63.06% in 2023, slightly down from 64.81% in 2022[75]. - The number of employees aged 24 or below increased from 5,280 in 2022 to 5,572 in 2023, showing a growth of about 5.5%[77]. - The proportion of new hires aged 41-59 increased from 66.49% in 2022 to 79.19% in 2023, indicating a shift in the age demographic of new employees[77]. Stock and Shareholder Information - The company did not issue any debt securities during the year, consistent with 2022[147]. - The company has no stock-linked agreements that would lead to the issuance of shares as of December 31, 2023[148]. - The total number of shares available for issuance under the 2017 share option scheme is 94,145,882, which is approximately 8.63% of the issued shares as of the report date[198].

Revenue and Profitability - For the year ended December 31, 2023, the group's revenue was approximately RMB 1,815,406,000, an increase of about 27.0% compared to approximately RMB 1,429,792,000 for the same period in 2022[24] - The group's restaurant business revenue for the year was approximately RMB 1,734,200,000, accounting for about 95.5% of total revenue, up from 93.7% in 2022[25] - The group recorded a pre-tax profit of approximately RMB 247,875,000 for the year ended December 31, 2023, compared to a loss of approximately RMB 176,765,000 for the year ended December 31, 2022[59] - The group reported a net profit attributable to shareholders of approximately RMB 181,188,000 for the year ended December 31, 2023, compared to a loss of approximately RMB 143,906,000 in the previous year[60] - Gross profit for the same period was approximately RMB 1,373,330,000, representing a 30.2% increase from RMB 1,054,959,000 in the previous year[69] - Operating profit for the year was RMB 126,842,000, compared to a loss of RMB 114,084,000 in 2022[78] Operational Efficiency and Strategy - The group aims to enhance operational efficiency through effective management and strengthened employee training[22] - The group is facing challenges due to economic slowdown and global inflation, prompting adjustments in operational strategies[21] - The group plans to continue expanding its restaurant network and accelerating digital upgrades to capture the recovery opportunities in the industry[20] Expenses and Costs - Employee costs amounted to approximately RMB 475,830,000, an increase of 11.9% from RMB 425,410,000 in 2022, while the proportion of employee costs to revenue decreased by 3.6 percentage points to 26.2%[71] - The group's total expenses for utilities increased by 12.1% to RMB 82.4 million in 2023, compared to RMB 73.5 million in 2022[52] - Other operating expenses increased by approximately 20.7% to RMB 453,966,000, in line with sales growth and increased operational costs post-pandemic[76] Assets and Liabilities - As of December 31, 2023, the group's bank balance was approximately RMB 1,607,635,000, an increase from RMB 1,465,111,000 as of December 31, 2022, with a current ratio of 4.1 compared to 3.2 in the previous year[47] - The group's net current assets increased to RMB 1,434,727,000 in 2023 from RMB 1,186,121,000 in 2022, reflecting a growth of approximately 21%[102] - The group’s total equity increased to RMB 3,057,926,000 in 2023 from RMB 2,921,312,000 in 2022, representing a growth of approximately 5%[103] - The group’s total liabilities decreased to RMB 1,429,792 in 2023 from RMB 1,965,253 in 2022, indicating improved financial stability[113] Investments and Financial Performance - The group confirmed a fair value gain of approximately RMB 23,935,000 on financial assets measured at fair value through profit or loss for the year ended December 31, 2023, compared to a loss of approximately RMB 63,876,000 in the previous year[56] - The group recognized government subsidies amounting to RMB 10,101, received from local authorities for business activities in mainland China[118] - The fair value gain from investment properties was RMB 8,822, a significant improvement from a loss of RMB 29,803 in 2022[120] Restaurant Operations - The total number of restaurants operated by the group was 562, down from 597 in the previous year, indicating a reduction of 35 locations[27] - The total number of chain restaurants owned by the company as of December 31, 2023, was 562, a decrease of 35 from the previous year[167] Dividends and Shareholder Information - The company proposed a final dividend of RMB 0.08 per share for the year ending December 31, 2023, totaling RMB 87,323,000, compared to RMB 0.06 per share and RMB 65,492,000 for the previous year[126] - The board proposed a final dividend of RMB 0.08 per ordinary share for the year ended December 31, 2023, compared to RMB 0.06 per share in 2022, pending shareholder approval[162] Future Outlook and Compliance - The group has not early adopted new Hong Kong Financial Reporting Standards that are effective for periods beginning on or after January 1, 2024[95] - The company expects that the application of all amendments to Hong Kong Financial Reporting Standards will not have a significant impact on the consolidated financial statements in the foreseeable future[130]

附註1 味千(中國)控股有限公司 AJISEN (CHINA) HOLDINGS LIMITED Stock Code 股份代號 : 538 2023 INTERIM REPORT 中期報告 公司簡介 1 公司資料 2 財務摘要 4 管理層討論及分析 5 簡明綜合財務報表審閱報告 13 簡明綜合損益及其他全面收益表 14 簡明綜合財務狀況表 16 簡明綜合權益變動表 18 簡明綜合現金流量表 19 簡明綜合財務報表附註 20 其他資料 44 公司簡介 作為餐飲（「餐飲」）業的知名品牌，味千快速休閒連鎖餐廳廣受消費者歡迎，網絡遍佈中國主要城市和香港的黃金地段。於二零二三年六月三十日，本集團 擁有569家餐廳，形成遍佈全國的零售網絡，味千餐廳已進入中國逾134個城市及31個省份及直轄市。各大城市中，國際大都市上海擁有為數最多的味千餐 廳，共100家，其後為江蘇，共有70家，廣東（不包括深圳）共有60家，其餘339家分佈在中國由南到北的其他各大城市。在香港，味千（中國）擁有22家連 鎖餐廳，網絡覆蓋了香港各主要商業區。本集團亦在歐洲經營2間餐廳。另外，本集團於上海、成都、天津、武漢及東莞設有生產基地，為本集團的餐廳 ...

Financial Performance - The group recorded a profit before tax of approximately RMB 181,256,000 for the six months ended June 30, 2023, compared to a loss of approximately RMB 136,066,000 for the same period in 2022[3]. - The profit attributable to shareholders for the six months ended June 30, 2023, was approximately RMB 133,095,000, compared to a loss of approximately RMB 106,513,000 for the same period in 2022[4]. - Operating profit improved to RMB 65,251,000, compared to an operating loss of RMB 99,587,000 in the prior year[46]. - The company reported a net profit attributable to shareholders of RMB 133,095,000, a significant recovery from a loss of RMB 106,513,000 in the same period last year[46]. - The company reported a profit of RMB 139,596,000 for the period, compared to a loss in the previous year, indicating a strong performance[90]. - The company experienced a pre-tax loss of RMB 136,066,000 for the current period, compared to a pre-tax loss of RMB 114,352,000 in the same period last year, indicating a deterioration in financial performance[115]. - The company's net loss for the period was RMB 120,361,000, compared to a net loss of RMB 106,513,000 in the previous year, reflecting a worsening trend in profitability[127]. - The company reported a fair value gain on investment properties of RMB 37,070,000 for the current period, a substantial increase from RMB 5,630,000 in the previous year, highlighting improved asset performance[122]. - The company reported interest income of RMB 15,019,000 for the current period, up from RMB 6,807,000 in the previous period, reflecting an increase of approximately 120%[95]. Revenue and Sales - The group's revenue for the six months ended June 30, 2023, was approximately RMB 884,847,000, an increase of about 30.6% from RMB 677,469,000 in the same period of 2022[19]. - Restaurant business sales reached RMB 842,594,000, up 34.1% from RMB 628,250,000 year-over-year[46]. - Total revenue for the six months ended June 30, 2023, was RMB 884,847,000, an increase from RMB 677,469,000 in the same period of 2022, representing a growth of approximately 30.6%[94]. - The restaurant business generated approximately RMB 842,594,000 in revenue during the period, representing a 34.1% increase compared to RMB 628,250,000 in the same period last year, and accounted for about 95.2% of total revenue[156]. Costs and Expenses - For the six months ended June 30, 2023, the financing cost was approximately RMB 9,570,000, a decrease of about 24.7% compared to RMB 12,715,000 for the same period in 2022[1][2]. - The cost of inventory for the six months ended June 30, 2023, was approximately RMB 219,895,000, an increase of about 21.4% from RMB 181,140,000 in the same period of 2022[20]. - Employee costs for the six months ended June 30, 2023, were approximately RMB 227,664,000, an increase of about 7.9% from RMB 211,016,000 in the same period of 2022[23]. - Cost of goods sold was RMB 219,895,000, up from RMB 181,140,000, reflecting a 21.4% increase year-over-year[166]. - The total depreciation expense for the period was RMB 160,333,000, down from RMB 187,855,000 in the previous year, indicating a reduction in asset-related costs[122]. Assets and Liabilities - The company's current assets net amount was approximately RMB 1,274,218,000, with a current ratio of 3.3, slightly up from 3.2 at the end of 2022[41]. - Total assets minus current liabilities increased to RMB 3,422,874 thousand as of June 30, 2023, compared to RMB 3,332,363 thousand as of December 31, 2022, reflecting a growth of approximately 2.7%[57]. - Cash and cash equivalents rose to RMB 1,578,250 thousand as of June 30, 2023, up from RMB 1,465,111 thousand as of December 31, 2022, indicating an increase of about 7.7%[56]. - The total equity attributable to shareholders reached RMB 2,966,327 thousand as of June 30, 2023, compared to RMB 2,874,715 thousand as of December 31, 2022, marking an increase of approximately 3.2%[78]. - The total liabilities decreased to RMB 548,004 thousand as of June 30, 2023, from RMB 536,221 thousand as of December 31, 2022, indicating a reduction of about 2.0%[56]. - The company's total liabilities decreased to RMB 154,372,000 as of June 30, 2023, compared to RMB 154,599,000 as of December 31, 2022[106]. Operational Insights - The group had no significant contingent liabilities as of June 30, 2023[9]. - The total number of restaurants as of June 30, 2023, was 569, down from 669 in the previous year[46]. - The group employed 7,746 staff as of June 30, 2023, a decrease from 7,982 staff a year earlier, indicating ongoing optimization of operational processes[141]. - The group is focused on cost control amid rising inflation pressures on food and labor, with efforts to stabilize supply chain and optimize supplier relationships[135]. - The group continues to adopt a prudent operational and store opening strategy to improve overall profitability post-pandemic[153]. - The group is committed to maintaining food quality and safety standards while adjusting operational strategies to enhance competitiveness[136]. - The group has established five production bases in mainland China to ensure food quality, safety, and stable supply for its restaurants[135]. Future Outlook - The company plans to accelerate digital transformation of its stores to enhance customer experience and operational efficiency in the second half of 2023[152]. - The economic recovery in China is reflected in a GDP growth of 5.5% for the period, compared to 2.5% in the previous year, which may positively impact the company's performance[132]. - The estimated annual tax rates for Hong Kong and mainland China remain at 16.5% and 25%, respectively, consistent with the previous year, which may affect future profitability[124]. Other Information - The company did not declare an interim dividend for the six months ended June 30, 2023, compared to zero dividend in the same period of 2022[163]. - The company has not engaged in any purchase, sale, or redemption of its listed securities during the six months ended June 30, 2023[167]. - The company plans to distribute its interim report to all shareholders and publish it on its website and the Hong Kong Stock Exchange[164].

Financial Performance - The company's revenue for 2022 was RMB 1,429.8 million, a decrease of 28.4% compared to RMB 2,000.2 million in 2021[13] - Restaurant business sales dropped to RMB 1,339.6 million, down 28.8% from RMB 1,880.9 million in the previous year[13] - The company reported a net loss attributable to shareholders of RMB 143.9 million, compared to a profit of RMB 20.9 million in 2021[13] - The group's revenue for the period was approximately RMB 1,430 million, a decline of about 28.4% compared to RMB 1,996 million in the same period last year, primarily due to COVID-19 restrictions[24] - The group recorded a pre-tax loss of approximately RMB 176,765,000 for the year, compared to a profit of RMB 52,440,000 in 2021[44] - The attributable loss to shareholders was approximately RMB 143,906,000, compared to a profit of RMB 20,940,000 in 2021[47] - The cost of goods sold for the year was approximately RMB 374,833,000, down about 30.2% from RMB 537,336,000 in 2021, with the cost as a percentage of revenue at 26.2%, a slight decrease from 26.9% in the previous year[32] - Gross profit for the year was approximately RMB 1,054,959,000, a decrease of about 27.7% from RMB 1,458,873,000 in 2021, while the gross margin increased to 73.8% from 73.1%[33] Operational Metrics - The total number of restaurants decreased to 597, representing a 19.0% decline from 737 in 2021[13] - As of December 31, 2022, the group operated 597 restaurants, a decrease of 140 from 737 in 2021, with 161 closures due to various reasons including poor performance and contract expirations[17] - The average consumption per customer in the Hong Kong market reached a new high, while the cost of inventory consumption as a percentage of revenue was approximately 26.2%, a decrease of 0.7 percentage points year-on-year[24] - The group achieved a gross margin of 73.8%, up from 73.1% in the previous year, despite a revenue decline[24] - The proportion of labor costs to revenue was approximately 29.8%, an increase of 2.6 percentage points from 27.2% in the previous year, mainly due to underutilization of labor resources[24] Membership and Customer Engagement - Membership numbers reached 24.63 million, with total member spending amounting to RMB 735 million[16] - The company plans to enhance customer engagement through a new membership strategy that includes scenario-based, product-oriented, and social elements[16] Strategic Initiatives - The group aims to optimize its supply chain for international meat procurement in 2023, maintaining partnerships with large meat suppliers to control procurement costs[17] - The group has increased its direct procurement ratio to 72.42%, enhancing the quality and quantity of domestic and international suppliers[17] - The group plans to accelerate its restaurant expansion and optimize its network layout in 2023 as the restaurant industry continues to recover[18] - The group is focusing on digital transformation, enhancing its membership system and supply chain management to better capture market opportunities[22] Governance and Compliance - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with the standards set forth in the Listing Rules Appendix 10[68] - The board consists of seven members, including three independent non-executive directors, ensuring a strong level of independence[74] - The company has implemented a fair disclosure policy to broadly disseminate information to the public through various channels[72] - The board reviews its governance framework annually to ensure its effectiveness[80] - The company has not been involved in any legal cases related to corruption during the reporting period[71] Risk Management and Internal Controls - The company is committed to maintaining a robust risk management and internal control system to manage inherent business risks[122] - The board has delegated the Audit Committee to continuously monitor the effectiveness of the risk management and internal control systems, which include financial, operational, and compliance controls[122] - Management is responsible for identifying and mitigating risks that may impact the company's performance, with regular reviews and updates to the risk management system[128] Environmental, Social, and Governance (ESG) Initiatives - The company operates leading fast-casual restaurant chains in mainland China and Hong Kong, focusing on environmental, social, and governance (ESG) initiatives[151] - The group is committed to continuously improving its ESG performance and governance structure[160] - The company emitted 7,968.90 tons of CO2 equivalent greenhouse gases during the reporting period, with a greenhouse gas emission density of 10.28 tons per employee[171] - The total energy consumption of the company was 15,469.51 MWh, with an energy consumption density of 19.96 MWh per employee[177] - The company plans to regularly measure and disclose environmental performance to identify opportunities for improvement and gradually set environmental goals[168] Employee Management and Development - The company employs 6,542 staff members across its restaurant operations and related product sales, with a focus on fair employment practices[189] - The company emphasizes the importance of employee training and development to enhance skills and improve work efficiency, aligning training plans with business development needs[193] - The company has established a comprehensive compensation system to motivate employees, adjusting salaries and bonuses based on performance evaluations[185] - The company actively promotes equal opportunities and diversity in the workplace, opposing any form of discrimination[188]