Financial Performance - Total revenue for the year ended December 31, 2022, was RMB 1,429,792 thousand, a decrease of 28.4% compared to RMB 1,996,209 thousand in 2021[2]. - Restaurant business sales decreased by 28.8% to RMB 1,339,611 thousand from RMB 1,880,923 thousand in the previous year[2]. - The company reported a gross profit of RMB 1,054,959 thousand, down 27.7% from RMB 1,458,873 thousand in 2021[2]. - Operating loss for the year was RMB 114,084 thousand, compared to an operating profit of RMB 24,030 thousand in 2021[2]. - The company incurred a loss attributable to shareholders of RMB 143,906 thousand, compared to a profit of RMB 20,940 thousand in the previous year[2]. - Basic loss per share was RMB (0.13), a decline from earnings of RMB 0.02 per share in 2021[2]. - Revenue from external customers in mainland China for the year ended December 31, 2022, was RMB 1,270,628, a decrease of 30.6% from RMB 1,831,816 in 2021[47]. - Revenue from external customers in Hong Kong for the year ended December 31, 2022, was RMB 159,164, a decrease of 3.8% from RMB 164,393 in 2021[47]. - The group reported a loss attributable to shareholders of approximately RMB 143,906,000 for the year ended December 31, 2022, compared to a profit of approximately RMB 20,940,000 in 2021[147]. - The group recorded a pre-tax loss of approximately RMB 176,765,000 for the year ended December 31, 2022, compared to a profit of RMB 52,440,000 in the previous year[171]. Dividends and Shareholder Returns - The company proposed a final dividend of RMB 0.06 per share, down from RMB 0.08 per share in 2021[2]. - The company declared dividends of RMB 91,480 thousand for 2022, an increase from RMB 87,323 thousand in 2021[86]. - Share transfer registration will be suspended from June 14 to June 16, 2023, to determine the list of shareholders entitled to the final dividend[194]. Assets and Liabilities - Non-current assets totaled RMB 2,146,242 thousand, a decrease from RMB 2,492,104 thousand in 2021[8]. - Total equity attributable to shareholders decreased to RMB 2,874,715 thousand from RMB 3,060,105 thousand in the previous year[9]. - The carrying amounts of right-of-use assets and lease liabilities as of December 31, 2022, were RMB 369,970,000 and RMB 412,478,000, respectively[29]. - The group has not reported total assets and total liabilities as they were not reviewed by the main operating decision-makers[36]. - The group’s bank borrowings were approximately RMB 40,417,000 as of December 31, 2022, down from RMB 77,003,000 a year earlier, resulting in a debt-to-asset ratio of 1.0[177]. - The net current assets of the group were approximately RMB 1,186,121,000, with a current ratio of 3.2 as of December 31, 2022[182]. Operational Metrics - The total number of restaurants as of December 31, 2022, decreased to 597 from 737 in the previous year[2]. - The group had a total of 597 chain restaurants as of December 31, 2022, a decrease of 140 from 737 restaurants in the previous year[135]. - The proportion of labor costs to revenue increased to approximately 29.8%, up 2.6 percentage points from 27.2% in 2021, primarily due to the pandemic affecting operational hours[102]. - Comparable store sales growth in Hong Kong decreased by 12.3% and in mainland China by 20.5% for the year 2022[158]. - Average spending per customer in Hong Kong was HKD 105.5, while in mainland China it was RMB 43.0 for the year 2022[158]. - Daily table turnover in Hong Kong was 3.7, compared to 2.5 in mainland China for the year 2022[158]. Costs and Expenses - The total employee costs for the year ended December 31, 2022, were RMB 425,410, a decrease of 21.6% from RMB 542,546 in 2021[54]. - The group’s inventory cost was approximately RMB 374,833,000, a reduction of about 30.2% from RMB 537,336,000 in the previous year[138]. - The cost of goods sold as a percentage of revenue was approximately 26.2%, a decrease of about 0.7 percentage points from the previous year[137]. - Financing costs decreased by approximately 13.2% to RMB 26.02 million, down from RMB 29.96 million in 2021[119]. - The company recognized a total impairment loss of RMB 16,953,000 for the year ended December 31, 2022, compared to a reversal of impairment loss of RMB 1,348,000 in 2021[62]. Future Outlook and Strategic Initiatives - The company will continue to optimize its member system and accelerate digital transformation to capture development opportunities in the industry[100]. - The group will closely monitor market conditions and respond swiftly to changes to enhance competitiveness[103]. - The company expects that the application of new accounting standards will not have a significant impact on the consolidated financial statements in the foreseeable future[20]. - The group has not adopted new Hong Kong Financial Reporting Standards that are effective from January 1, 2023, which may impact the financial statements in the future[19]. Miscellaneous - The group maintained a strong financial position with bank balances of approximately RMB 1,465,111,000 as of December 31, 2022, compared to RMB 1,527,538,000 in the previous year[152]. - The group maintained a diversified investment portfolio, with significant investments in Guangzhou Cloud System valued at RMB 17,274,000 as of December 31, 2022, down from RMB 47,675,000 in the previous year[173]. - The group did not engage in any significant acquisitions or disposals of subsidiaries during the review period[180]. - The group has no significant contingent liabilities as of December 31, 2022[181]. - The company will hold its annual general meeting on June 7, 2023, with relevant notices to be published on its website[196].

Financial Performance - For the six months ended June 30, 2022, the revenue was RMB 677.5 million, a decrease of 33.1% compared to RMB 1,012.5 million in the same period of 2021[12]. - Gross profit for the same period was RMB 496.3 million, down 32.7% from RMB 738.0 million year-on-year[12]. - The company reported a loss before tax of RMB 136.1 million, compared to a profit of RMB 86.2 million in the previous year[12]. - The loss attributable to shareholders was RMB 106.5 million, compared to a profit of RMB 49.7 million in the prior year[12]. - For the six months ended June 30, 2022, the group's restaurant business revenue was approximately RMB 628,250,000, a decrease of about 33.9% compared to RMB 951,011,000 in the same period last year, accounting for 92.7% of total revenue[23]. - The group's total revenue for the six months ended June 30, 2022, was approximately RMB 677,469,000, down about 33.1% from RMB 1,012,542,000 in the same period last year due to COVID-19 restrictions[27]. - The group recorded a pre-tax loss of approximately RMB 136,066,000 for the six months ended June 30, 2022, compared to a profit of RMB 86,228,000 for the same period in 2021[44]. - The loss attributable to shareholders was approximately RMB 106,513,000 for the six months ended June 30, 2022, compared to a profit of approximately RMB 49,658,000 in the same period of 2021[45]. - The total loss for the period was RMB 120,361,000, significantly higher than the profit of RMB 51,072,000 reported in the previous year[101]. - The company experienced a significant decline in segment profit, with a loss of RMB 129,018,000 for the first half of 2022 compared to a profit of RMB 78,227,000 in the same period of 2021[101]. Operational Metrics - The number of restaurants operated by the company reached 669, covering over 153 cities and 26 provinces in China as of June 30, 2022[4]. - The group operated a total of 669 restaurants as of June 30, 2022, a decrease of 38 from 707 restaurants in the same period last year[22]. - Comparable store sales growth was -23.6% for the first half of 2022, compared to 13.7% in the same period of 2021[60]. - The company plans to enhance its membership system to improve repurchase rates and accelerate digital transformation[15]. - The company is focusing on a new retail model combining offline dining, online delivery, and new retail strategies[15]. Cost Management - The group's inventory cost for the six months ended June 30, 2022, was approximately RMB 181,140,000, a decrease of about 34.0% from RMB 274,547,000 in the same period last year, with inventory cost accounting for 26.7% of revenue[28]. - Employee costs for the six months ended June 30, 2022, were approximately RMB 211,016,000, a decrease of about 20.4% from RMB 265,160,000 in the same period last year, with employee costs accounting for 31.1% of revenue[33]. - The group will strategically reduce the number of underperforming restaurants to mitigate cash flow and profit burdens during the pandemic[19]. - The group will closely monitor market conditions and actively control operating costs to minimize the impact of negative factors[19]. Cash Flow and Liquidity - As of June 30, 2022, the group maintained a strong liquidity position with cash reserves of approximately RMB 1,528,194,000 and a current ratio of 2.8[46]. - The group generated a net cash inflow from operating activities of approximately RMB 99,978,000, despite recording a pre-tax loss of RMB 136,066,000[54]. - The net cash generated from operating activities for the six months ended June 30, 2022, was RMB 99,978 thousand, down 53.0% from RMB 212,225 thousand in the same period of 2021[85]. - The company reported a net cash outflow from investing activities of RMB 23,196 thousand for the six months ended June 30, 2022, compared to RMB 41,775 thousand in the prior year, indicating an improvement in cash flow management[85]. - The net cash used in financing activities was RMB 88,619 thousand for the first half of 2022, a decrease from RMB 174,940 thousand in the same period of 2021, showing a reduction in financing costs[85]. Market Conditions - The overall restaurant industry in China saw a revenue decline of 7.7% year-on-year, with total dining revenue at RMB 20,040 billion[14]. - The gross domestic product (GDP) of China grew by 2.5% during the same period, indicating economic recovery amidst challenges[14]. - In the first half of 2022, the company's restaurant operations in China were severely impacted by COVID-19, leading to a revenue decrease of 28.5% from RMB 1,012,542 thousand in 2021 to RMB 677,469 thousand in 2022[95]. Asset and Liability Management - Cash and cash equivalents as of June 30, 2022, were RMB 1,528,194 thousand, slightly increased from RMB 1,527,538 thousand as of December 31, 2021[75]. - Total liabilities as of June 30, 2022, were RMB 652,742 thousand, compared to RMB 575,138 thousand as of December 31, 2021[75]. - The company’s total liabilities decreased to RMB 548,909 thousand from RMB 611,930 thousand, indicating a reduction of approximately 10.3%[78]. - The company’s net assets decreased to RMB 2,927,090 thousand from RMB 3,114,149 thousand as of December 31, 2021, representing a decline of approximately 6.0%[78]. - The total equity attributable to shareholders decreased to RMB 2,885,848 thousand from RMB 3,060,105 thousand, reflecting a decrease of about 5.7% year-over-year[78]. Related Party Transactions - Related party transactions included sales of ramen and related products amounting to RMB 514 thousand for the six months ended June 30, 2022, up from RMB 396 thousand in the previous year, reflecting a growth of approximately 29.6%[196]. - The company incurred procurement costs for food, raw materials, and supplies from related parties totaling RMB (7,089) thousand for the six months ended June 30, 2022, a decrease from RMB (16,550) thousand in the prior year, showing a reduction of about 57.3%[196]. - The total compensation for directors and key management personnel was RMB 2,954 thousand for the six months ended June 30, 2022, compared to RMB 2,251 thousand in the previous year, representing an increase of approximately 31.1%[199].

Financial Performance - The company's revenue for 2021 was RMB 1,996,209 thousand, representing a 9.6% increase from RMB 1,820,588 thousand in 2020[20] - Restaurant business sales reached RMB 1,880,923 thousand, up 10.5% from RMB 1,702,117 thousand in the previous year[20] - Gross profit increased by 11.8% to RMB 1,458,873 thousand compared to RMB 1,305,027 thousand in 2020[20] - The company reported a net profit attributable to shareholders of RMB 20,940 thousand, a significant recovery from a loss of RMB 77,868 thousand in 2020[20] - The net profit margin improved to 0.9% from -4.3% in the previous year, reflecting a positive trend in profitability[20] - The group's revenue for the year ended December 31, 2021, increased by 9.6% to approximately RMB 1,996 million compared to RMB 1,820 million in the same period last year[32] - The group's restaurant business revenue for the year was approximately RMB 1,880,923,000, an increase of about 10.5% from RMB 1,702,117,000 in the previous year, accounting for 94.2% of total revenue[34] - The gross profit reached approximately RMB 1,458,873,000, an increase of about 11.8% from RMB 1,305,027,000 in the previous year, with a gross margin rising from 71.7% to 73.1%[45] - The group recorded a profit before tax of approximately RMB 52,440,000 for the year ended December 31, 2021, compared to a loss of approximately RMB 97,999,000 for the same period in 2020[55] Operational Metrics - The total number of restaurants as of December 31, 2021, was 737, a 2.1% increase from 722 in 2020[20] - The group opened 98 new restaurants while closing 83, resulting in a total of 737 operational restaurants as of December 31, 2021[23] - Active member repurchase rate increased from 2.83 times to 3.54 times, with total membership reaching 19.72 million by the end of 2021[22] - Comparable store sales growth was 13.7% for the year ended December 31, 2021, compared to a decline of 0.9% for the same period in 2020[78] Cost and Expenses - Employee costs amounted to approximately RMB 542,546,000, a 13.6% increase from RMB 477,510,000 the previous year, with employee costs accounting for 27.2% of revenue, up 1.0 percentage point[46] - Inventory costs were approximately RMB 537,336,000, an increase of about 4.2% from RMB 515,561,000, with inventory costs as a percentage of revenue decreasing to 26.9% from 28.3%[44] - Other operating expenses increased by approximately 21.5% to about RMB 512,572,000, primarily due to increased restaurant operating days[48] Cash Flow and Assets - The company's total assets decreased by 6.7% to RMB 4,301.2 million from RMB 4,610.4 million in the previous year[20] - Cash and cash equivalents decreased by 12.1% to RMB 1,527.5 million compared to RMB 1,738.4 million in 2020[20] - As of December 31, 2021, the group's cash generated from operations was approximately RMB 417,717,000, with a profit before tax of approximately RMB 52,440,000 for the same period[75] Corporate Governance - 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[81] - The board consists of seven members, with more than one-third being independent non-executive directors, ensuring a strong level of independence[85] - The company emphasizes transparency, accountability, and independence to enhance long-term shareholder returns[80] - The independent non-executive directors possess extensive professional experience and contribute meaningfully to the board's decisions[85] - The company has established a whistleblowing policy to provide employees with a channel for reporting concerns and to protect them from retaliation for making fair reports[135] Risk Management and Internal Control - The company has established a strong internal control and risk management culture, with the Audit Committee conducting at least two meetings annually to optimize the control environment[127] - The management is responsible for designing, implementing, and maintaining the risk management and internal control systems[138] - The board has delegated the audit committee to continuously monitor the risk management and internal control systems and review their effectiveness annually[138] Environmental and Social Responsibility - The company emphasizes green and low-carbon practices, regularly updating technology and equipment to reduce environmental impact[161] - The company actively participates in social responsibility initiatives, including hiring 49 individuals with disabilities in Shanghai and Beijing[158] - The company has implemented a comprehensive food safety management system, integrating its ERP system with the Shanghai Food and Drug Administration's traceability system to ensure ingredient safety[158] Awards and Recognition - In 2021, the company was awarded the "Top 10 Fast Food Enterprises in China" by the China Hotel Association and recognized as one of the "Top 100 Catering Enterprises in China" by the China Cuisine Association[158] - The company has been recognized for its contributions to the restaurant industry, with awards highlighting its influential entrepreneurs[182]

Financial Performance - For the six months ended June 30, 2021, the company's revenue was RMB 1,012.5 million, representing a 46.4% increase compared to RMB 691.8 million in the same period of 2020[15] - Gross profit for the same period was RMB 738.0 million, up 51.0% from RMB 488.6 million year-on-year[15] - The company reported a profit before tax of RMB 86.2 million, a significant recovery from a loss of RMB 149.8 million in the previous year[15] - Net profit attributable to shareholders was RMB 49.7 million, compared to a loss of RMB 109.4 million in the prior year[15] - The group's revenue for the six months ended June 30, 2021, was approximately RMB 1,013 million, an increase of about 46.4% compared to RMB 692 million in the same period of 2020[21] - The gross profit for the same period was approximately RMB 738 million, representing a year-on-year increase of about 51.0%[21] - The group recorded a profit attributable to shareholders of approximately RMB 49.7 million, compared to a loss of RMB 109.4 million in the same period of 2020[21] - The operating profit for the six months ended June 30, 2021, was RMB 40,180,000, a significant improvement from a loss of RMB 123,421,000 in the same period of 2020[69] - The total comprehensive income for the six months ended June 30, 2021, was RMB 40,339,000, recovering from a loss of RMB 109,653,000 in the same period of 2020[72] Restaurant Operations - The company operated 707 restaurants as of June 30, 2021, with a presence in over 167 cities across 30 provinces and municipalities in China[4] - The restaurant business revenue was approximately RMB 951 million, accounting for about 93.9% of the total revenue, an increase of approximately 49.1% year-on-year[27] - Comparable store sales growth for the first half of 2021 was +30.7%, a recovery from -29.7% in the first half of 2020[62] - The company reported a daily table turnover of 3.87 in Hong Kong and 3.2 in Mainland China for the first half of 2021[62] - The segment profit for restaurant operations in mainland China was RMB 39,724,000, while the total segment profit across all divisions was RMB 78,227,000[104] Economic Environment - The overall economic environment in China showed a GDP growth of 12.7% for the first half of 2021, recovering from a decline of 1.6% in the same period of 2020[17] - The average disposable income of residents in China increased by 12.0% year-on-year to RMB 17,642 during the reporting period[17] Strategic Initiatives - The company aims to become the leading fast-casual restaurant chain in China[6] - The company is focused on developing new products and enhancing its menu to cater to local tastes[4] - The group plans to continue optimizing its membership system to enhance repurchase rates and accelerate digital transformation[19] - The group aims to strategically expand its restaurant network while closely monitoring market conditions and controlling operational costs[23] - The company plans to continue expanding its restaurant operations and product offerings in both mainland China and Hong Kong to drive future growth[104] Financial Position - As of June 30, 2021, the group maintained a strong liquidity position with a bank balance of RMB 1,724,963,000 and a current ratio of 2.7[49] - The company's cash and cash equivalents stood at RMB 1,724,963 thousand, down from RMB 1,738,380 thousand, indicating a decrease of approximately 0.8%[74] - Total liabilities decreased to RMB 743,905 thousand from RMB 739,575 thousand, showing a slight increase of about 0.3%[78] - The net assets of the company were reported at RMB 3,174,201 thousand, down from RMB 3,228,854 thousand, reflecting a decrease of approximately 1.7%[78] - The total equity attributable to shareholders was RMB 3,111,139 thousand, down from RMB 3,157,768 thousand, indicating a decrease of approximately 1.5%[78] Cost Management - The inventory consumption cost accounted for approximately 27.1% of revenue, a decrease of about 2.3 percentage points from 29.4% in the same period of 2020[32] - Employee costs for the six months ended June 30, 2021, were approximately RMB 265,160,000, up about 24.4% from approximately RMB 213,202,000 in the same period of 2020, while the proportion of employee costs to revenue decreased from 30.8% to 26.2%[35] - Other operating expenses amounted to approximately RMB 236,939,000, an increase of about 38.9% from approximately RMB 170,571,000 in the same period of 2020, maintaining a stable proportion of 23.4% of revenue[39] Cash Flow - The net cash inflow from operating activities for the six months ended June 30, 2021, was approximately RMB 212,225,000[57] - The net cash used in investing activities was RMB (41,775,000), a decrease from RMB 44,907,000 in 2020, indicating improved cash flow management[87] - The net cash used in financing activities was RMB (174,940,000), compared to RMB (108,363,000) in the previous year, showing an increase in financing outflows[87] Shareholder Information - The company declared an interim dividend of RMB 0.02 per share, totaling RMB 86,286,000, compared to RMB 53,485,000 for the previous year, representing an increase of about 61%[127] - The total number of issued and fully paid shares as of June 30, 2021, was 1,091,538,820, unchanged from December 31, 2020[163] - The company recognized an expense of approximately RMB 294,000 for stock options granted under the plan for the six months ended June 30, 2021, compared to RMB 498,000 for the same period in 2020[172] Governance and Compliance - The company has complied with all applicable provisions of the Corporate Governance Code, except for a deviation regarding the separation of roles of the Chairman and CEO[190] - As of June 30, 2021, the Chairman and CEO roles are held by the same individual, which the board believes provides stable leadership[190] - The audit committee has reviewed the company's accounting policies and practices for the six months ended June 30, 2021[193]

Financial Performance - The company's revenue for 2020 was RMB 1,820,588 thousand, a decrease of 29.0% compared to RMB 2,565,102 thousand in 2019[16] - Restaurant business sales were RMB 1,702,117 thousand, also down by 29.0% from RMB 2,398,899 thousand in the previous year[16] - The gross profit for 2020 was RMB 1,305,027 thousand, reflecting a decline of 29.6% from RMB 1,854,319 thousand in 2019[16] - The company reported a loss before tax of RMB (97,999) thousand, a significant drop of 142.4% compared to a profit of RMB 231,257 thousand in 2019[16] - The net profit margin for 2020 was -4.3%, a decrease of 10.4 percentage points from 6.1% in 2019[16] - The group's revenue for the year ended December 31, 2020, decreased by 29.0% compared to the same period last year, with an operating profit margin dropping from 4.7% to -2.1% due to the negative impact of the COVID-19 pandemic on its operations in mainland China and Hong Kong[19] - The group's gross profit for the year was approximately RMB 1,305,027,000, a decrease of about 29.6% from RMB 1,854,319,000 in 2019[43] - Employee costs for the year were approximately RMB 477,510,000, a decrease of about 29.8% from RMB 679,858,000 in 2019[45] - Other operating expenses decreased by approximately 34.1% to about RMB 421,778,000 from RMB 639,748,000 in the previous year[47] - Other income for the year ended December 31, 2020, was approximately RMB 96,169,000, a decrease of about 26.0% compared to approximately RMB 129,947,000 for the same period in 2019[52] - Other gains and losses resulted in a loss of approximately RMB 108,327,000 for the year ended December 31, 2020, compared to a gain of approximately RMB 15,239,000 for the same period in 2019[53] Operational Metrics - The total number of restaurants decreased to 722 from 799, representing a decline of 9.6%[16] - As of December 31, 2020, the group operated 722 restaurants, a decrease of 77 from the previous year, with 113 closures attributed to government quarantine measures, lease expirations, and poor operational performance[20] - The group's delivery business accounted for 18.1% of restaurant revenue in 2020, up from 13.6% in 2019, reflecting a growing demand for takeout services[19] - The inventory turnover period increased to 97.1 days, up by 32.0 days from 65.1 days in 2019[16] - Comparable store sales growth for the year ended December 31, 2020, was -21.6%, compared to -29.7% for the same period in 2019[79] - Average spending per customer was HKD 78.0 for the year ended December 31, 2020, up from HKD 66.1 in 2019[79] - Daily table turnover was 4.0 for the year ended December 31, 2020, compared to 5.0 in 2019[79] Cash Flow and Assets - The company's total assets were RMB 4,610.4 million, down 6.4% from RMB 4,927.3 million in the previous year[16] - The cash and cash equivalents stood at RMB 3,228.9 million, a decrease of 5.3% from RMB 3,408.4 million in 2019[16] - The group’s cash and cash equivalents amounted to approximately RMB 1,738,380,000 as of December 31, 2020, compared to RMB 1,705,399,000 as of December 31, 2019[68] - The current ratio was 2.8 as of December 31, 2020, compared to 2.6 as of December 31, 2019[68] - The group’s bank borrowings were approximately RMB 186,044,000 as of December 31, 2020, down from RMB 207,676,000 as of December 31, 2019[68] - The group maintained a relatively high current ratio due to most of its revenue being settled in cash[76] - The group reported a loss before tax of approximately RMB 97,999,000 for the year ended December 31, 2020, compared to a profit of approximately RMB 231,257,000 for the same period in 2019[57] Corporate Governance - The executive committee is responsible for reviewing the company's business strategy and management, implementing investment and financing activities, and ensuring proper internal risk control and management[92] - The board has delegated daily operational management to the executive committee while retaining approval rights for significant matters[92] - The company has established specific terms for the executive committee, which includes the chairman, CEO, executive directors, and COO, to ensure effective daily operations[92] - The board believes that the dual role of the chairman and CEO, currently held by Ms. Pan, provides stable and consistent leadership for the company[96] - The company provides monthly updates to all directors regarding performance, status, and outlook to ensure proper execution of their duties[100] - The executive committee held two meetings during the fiscal year ending December 31, 2020, with attendance rates of 100% for most members[105] - The board conducted four meetings during the same period, with all directors attending the annual general meeting[105] - The company emphasizes continuous professional development for directors to enhance their knowledge and skills[100] - The board has established a clear division of responsibilities between the chairman and CEO roles, despite them being held by the same individual[96] - The company maintains compliance with legal and regulatory requirements through regular reviews and updates of governance policies[95] - The company has established four committees, including the Executive Committee, Compensation Committee, Nomination Committee, and Audit Committee, each with designated authority to oversee specific matters[107] Social Responsibility and Community Engagement - The company provided free nutritious meals to frontline medical staff during the COVID-19 pandemic[165] - The company has created 33 job positions for individuals with disabilities through its "Angel with Broken Wings" recruitment initiative[165] - The company actively participates in corporate social responsibility activities to build a positive corporate image[165] - The company has established a shareholder communication policy to enhance two-way communication with shareholders[158] Environmental Initiatives - The group emphasizes food safety by implementing direct procurement and integrating its ERP system with the Shanghai FDA traceability system, ensuring the traceability of materials from production date to shelf life[168] - In 2020, the central kitchen discharged approximately 84,000 tons of wastewater, with all indicators meeting the required standards[172] - The group trained 670 employees on safety production across 110 types of machinery, enhancing workplace safety measures[171] - The group achieved a total energy consumption of 115,786 tons of water, 10,365,851 kWh of electricity, and 291,881 liters of oil in its central kitchen operations[177] - The group’s restaurant brand "Ajisen Ramen" was awarded the "Green Restaurant" honor, recognizing its commitment to environmental protection and low-carbon initiatives[177] - The group implemented a waste oil recovery program, converting waste into renewable energy, and installed low-noise equipment in its operations[175] - The group’s offices promoted paperless operations, resulting in a total consumption of approximately RMB 73 million in water, electricity, and gas during the reporting period[176] - The group strictly adheres to environmental standards for wastewater, waste gas, and noise emissions, ensuring compliance with relevant regulations[174] Employee Relations - The company has a total of 9,951 employees as of December 31, 2020, with 6,398 female employees and 3,553 male employees[182] - The company adheres to national labor laws, ensuring minimum wage standards and providing statutory holidays, with a standard workweek of five days and eight hours per day[182] - The company has established the "Weichuan Business School" since 2016 to provide employees with growth opportunities and support their career development[183] - The company emphasizes employee work-life balance by organizing cultural activities and events, such as monthly birthday parties and holiday gatherings[183] - The company has not encountered any cases of child labor during the reporting period[182] - The company has a strict anti-corruption policy in place, ensuring compliance with national laws and internal guidelines[184] - The company encourages employees to report any incidents of corruption or fraud, with no legal cases related to corruption reported during the period[187] Risk Management - The company emphasizes the importance of maintaining a robust risk management and internal control system to mitigate inherent business risks and ensure compliance with relevant laws and regulations[138] - The management is responsible for designing and implementing the risk management and internal control systems to protect the company's assets and ensure reliable financial records[139] - The Audit Committee is tasked with continuously monitoring the effectiveness of the risk management and internal control systems, covering financial, operational, and compliance controls[138] - The board recognizes its responsibility to maintain effective risk management and internal control systems, which are reviewed annually for effectiveness[138] - The company has established a policy for hiring external auditors to provide non-audit services, ensuring independence and objectivity[133] Marketing and Brand Development - The company operates a chain of fast-casual restaurants selling Japanese ramen and cuisine in Hong Kong and China[199] - The company regularly updates its menu twice a year to communicate new products and innovative ideas to consumers[182] - The company is focused on expanding its overseas business development and new brand restaurants[198] - The company's marketing and restaurant design efforts are led by experienced executives with extensive backgrounds in the industry[198]

Financial Performance - For the six months ended June 30, 2020, the revenue was RMB 691.8 million, a decrease of 43.5% compared to RMB 1,223.8 million in the same period of 2019[11]. - Gross profit for the same period was RMB 488.6 million, down 45.4% from RMB 895.2 million year-on-year[11]. - The company reported a loss before tax of RMB 149.8 million, compared to a profit of RMB 119.8 million in the previous year[11]. - The loss attributable to shareholders was RMB 109.4 million, compared to a profit of RMB 86.6 million in 2019[11]. - The group recorded a loss attributable to shareholders of approximately RMB 109,393,000, with a basic loss per share of RMB 0.10, compared to a profit of approximately RMB 86,582,000 and a basic earnings per share of RMB 0.08 in the previous year[17]. - The company reported a loss before tax of approximately RMB 149,754,000 for the six months ended June 30, 2020, compared to a profit of RMB 119,809,000 for the same period in 2019[35]. - The net loss for the period was RMB 118,921,000, compared to a profit of RMB 92,748,000 in the same period of 2019[89]. - The total comprehensive loss for the period was RMB 109,653 thousand, compared to a total comprehensive income of RMB 94,565 thousand in the same period last year[59]. Operational Challenges - The company faced significant challenges due to the COVID-19 pandemic, with the overall restaurant industry in China experiencing a revenue decline of 32.8% during the same period[14]. - The company faced significant negative impacts on its operations due to the COVID-19 pandemic, leading to reduced revenues and impairments of assets[76]. - The overall operations of the company's restaurants have been gradually improving since the easing of lockdown measures in mid-March 2020[76]. - The company has benefited from various government support measures to mitigate the negative impacts of the pandemic[76]. Restaurant Network and Strategy - The number of restaurants operated by the company reached 734, covering over 169 cities and 31 provinces and municipalities in China[4]. - The group operated 734 restaurants as of June 30, 2020, a decrease of 36 from 770 restaurants in the same period of 2019[21]. - The group plans to adopt a prudent store opening strategy and focus on optimizing existing stores due to the uncertain global economic outlook[17]. - The company aims to become the leading fast-casual restaurant chain in China[6]. Revenue Sources - The main revenue source, the retail chain restaurant business, generated approximately RMB 637,697,000, accounting for about 92.2% of total revenue, down about 44.3% from RMB 1,144,605,000 in 2019[20]. - Restaurant operations revenue decreased to RMB 637,697,000 from RMB 1,144,605,000, a decline of approximately 44.4% year-over-year[85]. - Revenue from ramen and related products decreased to RMB 54,088,000 from RMB 79,264,000, a decline of approximately 31.7% year-over-year[85]. - Total revenue for the first half of 2020 was RMB 691,785,000, down from RMB 1,223,869,000 in the same period of 2019, representing a decrease of approximately 43.4%[89]. Cost Management - Employee costs for the six months ended June 30, 2020, were approximately RMB 213,202,000, a decrease of about 35.4% compared to RMB 330,252,000 for the same period in 2019[28]. - Other operating expenses for the six months ended June 30, 2020, were approximately RMB 170,571,000, a decrease of about 43.8% from RMB 303,706,000 in the same period of 2019[31]. - The cost of inventory consumed decreased to RMB 203,161,000 for the six months ended June 30, 2020, down from RMB 328,629,000 in 2019, indicating a reduction of approximately 38.2%[105]. - The total advertising and promotional expenses for the six months ended June 30, 2020, were RMB 4,432,000, significantly lower than RMB 17,102,000 in 2019, marking a decrease of about 74%[105]. Cash Flow and Liquidity - Cash inflow from operating activities for the six months ended June 30, 2020, was approximately RMB 54,435,000, despite a loss before tax of RMB 149,754,000[41]. - The company maintained a strong liquidity position with a bank balance of RMB 1,700,896,000 as of June 30, 2020, compared to RMB 1,705,399,000 as of December 31, 2019[38]. - Cash and cash equivalents as of June 30, 2020, were RMB 1,700,896 thousand, slightly down from RMB 1,705,399 thousand as of December 31, 2019[62]. - The net cash generated from operating activities for the six months ended June 30, 2020, was RMB 54,435,000, a decrease of 73% compared to RMB 202,170,000 in 2019[73]. Asset and Liability Management - Total assets as of June 30, 2020, were RMB 4,732,975 thousand, down from RMB 4,927,276 thousand as of December 31, 2019[62]. - Total liabilities as of June 30, 2020, were RMB 809,305 thousand, compared to RMB 817,193 thousand as of December 31, 2019[62]. - The company's net equity attributable to shareholders decreased to RMB 3,175,309,000 from RMB 3,329,074,000, representing a decline of 4.6%[64]. - The provision for expected credit losses for trade and other receivables increased to RMB 12,611,000 from RMB 3,471,000 as of December 31, 2019[134]. Shareholder Information - The company has issued 1,091,538,820 shares with a total capital of RMB 108,404,000 as of June 30, 2020[146]. - The company’s major shareholder, Favor Choice Group Limited, holds 480,123,041 shares, representing 43.99% of the total shares[188]. - The company has a total of 102,340,000 shares held by Invesco Management S.A., accounting for 9.38% of the total shares[188]. - The company’s stock options plan aims to reward contributions to the group’s development and business growth[191]. Fair Value and Financial Instruments - The fair value loss on investment properties for the six months ended June 30, 2020, was approximately RMB 8,499,000, compared to a fair value gain of RMB 2,509,000 in 2019[119]. - The company reported a fair value of RMB 66,191,000 for financial liabilities measured at fair value, an increase from RMB 62,776,000 as of December 31, 2019[159]. - The company reported a loss of RMB 14,205,000 from fair value changes in financial assets and a loss of RMB 3,415,000 from financial liabilities for the six months ended June 30, 2020[162]. Compliance and Governance - The company has complied with all applicable provisions of the Corporate Governance Code during the reporting period, except for a deviation regarding the roles of the Chairman and CEO[173]. - The company maintains transparency in its share option plans, providing detailed disclosures in its interim reports[199].

B AJISEN RAMEN 味手拉麵 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 2019 ANNUAL REPO 九州の味、熊本生まれ、世界の味千ラ 大骨熬湯五十年 全球門店800家 味千（中國）控股有限公司（股份代號：538）（「味千（中國）」或「本公司」，與其附屬公司統稱為「本集團」）為中華人民共和 國（「中國」）和香港特別行政區（「香港」）領先的快速休閒餐廳（「快速休閒餐廳」）連鎖營運商之一 。自一九九六年成立以 來，本集團以味千品牌於中國及香港銷售日式拉麵及菜式，並融合中國人飲食習慣和烹飪精髓，悉心研發出上百種適合 中國人口味的日式拉麵和菜式。本集團餐廳揉合快餐店及傳統點餐餐廳元素，是一家迅速增長的快速休閒餐廳連鎖經營 商 。 本集團於二零零七年三月三十日在香港聯合交易所有限公司（「聯交所」）主板上市，強大的資金支持為本集團的迅速擴張 注入新活力。作為餐飲（ ...

AJISEN RAMEN o 3 25 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 中期報告2019 INTERIM REPORT 大骨熬汤50年 全球门店800家 粒面50周年品牌战略升级发布: AJISEN RAMEN 九州の味、熊本生まれ。世界の味千ラーメン!! 目錄 12 14 16 18 20 22 58 公司簡介 味千（中國）控股有限公司（股份代號：538)（「味千（中國）」或「本公司」，與其附屬公司統稱為「本集團」）為中國內地（「中國」）和香港 特別行政區（「香港」）領先的快速休閒餐廳（「快速休閒餐廳」）連鎖營運商之一。自一九九六年成立以來，本集團以味千品牌於中國及 香港銷售日式拉麵及菜式，並融合中國人飲食習慣和烹飪精髓，悉心研發出上百種適合中國人口味的日式拉麵和菜式。本集團餐廳 揉合快餐店及傳統點餐餐廳元素，是一家迅速增長的快速休閒餐廳連鎖經營商。 本集 ...

® AJISEN RAMEN 去年报 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 文廊,源自 创始于 1968年 源自日本 九 州 全球門店 800家 直采全球 14国食材 味千（中國）控股有限公司（股份代號：538）（「味千（中國）」或「本公司」，與其附屬公司統稱為「本集團」）為中華人民共和 國（「中國」）和香港特別行政區（「香港」）領先的快速休閒餐廳（「快速休閒餐廳」）連鎖營運商之一 。自一九九六年成立以 來，本集團以味千品牌於中國及香港銷售日式拉麵及菜式，並融合中國人飲食習慣和烹飪精髓，悉心研發出上百種適合 中國人口味的日式拉麵和菜式。本集團餐廳揉合快餐店及傳統點餐餐廳元素，是一家迅速增長的快速休閒餐廳連鎖經營 商 。 本集團於二零零七年三月三十日在香港聯合交易所有限公 司（「聯交所」）主板上市，強大的資金支持為本集團的迅速 擴張注入新活力。作為餐飲（「餐飲」）業 ...