Financial Performance - The company's revenue for the year ended December 31, 2024, was RMB 1,021,063,000, a decrease of 9.1% compared to RMB 1,122,911,000 in 2023[3] - Gross profit for the same period was RMB 674,423,000, down 9.4% from RMB 744,219,000, with a gross margin of 66.1%[3] - The company reported a loss attributable to owners of RMB 18,924,000, a significant decline of 145.4% from a profit of RMB 41,692,000 in the previous year[3] - Basic loss per share was RMB 1.76, compared to earnings of RMB 3.87 per share in 2023, reflecting a 145.5% decrease[3] - Total revenue for the year ended December 31, 2024, was RMB 1,021.1 million, down from RMB 1,122.9 million in 2023, reflecting a challenging economic environment[38] - The overall segment performance resulted in a loss of RMB 11,503,000 in 2024, compared to a profit of RMB 48,254,000 in 2023[23] - Employee costs totaled RMB 422,729,000 in 2024, down from RMB 437,306,000 in 2023, reflecting a decrease of 3.3%[28] - The group reported a net cash inflow from operating activities of approximately RMB 110.1 million for the year[48] Revenue Sources - Total revenue for the restaurant operations in 2024 was RMB 1,021,063 thousand, a decrease of 9.1% from RMB 1,122,911 thousand in 2023[16] - Revenue from bank interest in 2024 was RMB 2,199 thousand, down 36.5% from RMB 3,461 thousand in 2023[18] - Commission income decreased to RMB 17,338 thousand in 2024 from RMB 18,784 thousand in 2023, reflecting a decline of 7.7%[18] - Government subsidies received in 2024 amounted to RMB 1,495 thousand, significantly lower than RMB 8,756 thousand in 2023, representing an 82.9% decrease[18] Operational Changes - The number of self-operated restaurants decreased from 35 to 32, while the number of joint venture restaurants increased from 16 to 17[3] - The company operates in four geographical segments: Northern China, Eastern China, Southern China, and Western China[19] - As of December 31, 2024, the group operated 32 restaurants and 17 joint venture restaurants, with the main brand 唐宮* contributing 82.9% to total revenue[44] - The group plans to open a second store in Hong Kong and is actively seeking opportunities to establish its first overseas store in Singapore[42] Dividends and Shareholder Information - The company proposed a final dividend of HKD 1.00 per share, down from HKD 1.50 in the previous year[3] - The board proposed a final dividend of HKD 0.01 per ordinary share, down from HKD 0.015 in 2023, subject to shareholder approval[65] - The final dividend, if approved, will be payable on July 25, 2025[65] - The company will suspend the registration of shareholders from June 2 to June 6, 2025, for the upcoming annual general meeting[66] Financial Position - Total assets decreased to RMB 760,428,000 from RMB 805,737,000 in 2023, while total liabilities slightly increased to RMB 555,216,000 from RMB 564,282,000[7] - Trade receivables aged analysis shows a decrease from RMB 13,270 thousand in 2023 to RMB 9,417 thousand in 2024, with a significant drop in receivables over 90 days from RMB 1,018 thousand to RMB 40 thousand[35] - Trade payables decreased from RMB 52,255 thousand in 2023 to RMB 44,761 thousand in 2024, with payables over 180 days increasing from RMB 3,848 thousand to RMB 4,017 thousand[35] - The group maintains a current ratio of 1.1 as of December 31, 2024, compared to 1.0 a year earlier, indicating improved liquidity[49] - The group has no bank borrowings or significant contingent liabilities as of December 31, 2024[55][56] Market and Economic Conditions - The overall retail sales growth in China for 2024 was 3.5%, a decline from 5.5% at the beginning of the year and 7.2% in 2023, highlighting a slowdown in consumer spending[37] - The restaurant customer count and per capita spending were significantly impacted by economic conditions, prompting the company to strengthen marketing efforts to stabilize business[38] Strategic Initiatives - The company has over 1.5 million members across mainland China and Hong Kong, with ongoing initiatives to enhance member engagement and loyalty through personalized offers[41] - Online takeaway orders exceeded 1 million transactions in 2024, demonstrating successful expansion in the online sales channel[40] - The company implemented a unified online promotion strategy, enhancing brand visibility and product sales through collaborations with professional media and influencers[40] - The company plans to enhance customer interaction through new promotional activities, including collaborations with travel platforms and themed marketing campaigns[39] Governance and Compliance - The company has complied with all corporate governance codes as per the listing rules during the year[59] - The audit committee, consisting of three independent non-executive directors, has reviewed the annual consolidated financial statements[62] - Ernst & Young has agreed that the financial figures are consistent with the draft annual consolidated financial statements[61] - The annual results announcement will be published on the Hong Kong Stock Exchange and the company's website[67] - The annual general meeting is scheduled for June 6, 2025[64] Future Outlook - The group is preparing to restart its store opening plan and launch new business units in 2025, while maintaining a cautious approach to cost management[43] - The company purchased a total of 5,000,000 shares under its share incentive plan at a total cost of approximately RMB 1.8 million[58] - The group recognized an impairment loss provision of approximately RMB 6.8 million for property, plant, and equipment due to ongoing losses from certain restaurants[46]

Revenue and Profit Performance - Revenue for the period was RMB527.3 million, a decrease of 10.4% compared to the same period in 2023[9] - Revenue for the six months ended 30 June 2024 decreased to RMB 527,309 thousand, down 10.4% from RMB 588,305 thousand in the same period last year[68] - Profit before tax for the period dropped significantly to RMB 8,878 thousand, compared to RMB 45,871 thousand in 2023, a decrease of 80.6%[68] - Net profit attributable to owners of the company fell sharply to RMB 3,379 thousand, down 91.9% from RMB 41,564 thousand in the previous year[68] - Basic and diluted earnings per share decreased to RMB 0.31 cents, compared to RMB 3.86 cents in 2023[68] - Total comprehensive income for the period was RMB 3,890 thousand, a significant decline from RMB 43,093 thousand in 2023[69] - The Group's overall revenue decreased by 10.4% to approximately RMB527.3 million, with a stable gross profit margin of 66.2% (2023: 66.4%)[18][19] Gross Profit Margin and Cost Management - Gross profit margin remained stable at 66.2% for the period (2023: 66.4%)[9] - The Group faced challenges from high operating costs in the catering market[9] - Staff costs accounted for 40.6% of revenue excluding the share award scheme expense[20][23] - Total staff costs for the six months ended 30 June 2024 were RMB 216,109 thousand, slightly up from RMB 216,004 thousand in the same period in 2023[103] Market and Consumer Trends - National catering revenue in Mainland China increased by 7.9% year-on-year in the first half of 2024, a significant decrease compared to the growth rate of over 21% in the same period in 2023[7] - Mainland China's GDP increased by 5.3% in the first quarter of 2024, but showed a noticeable slowdown in the second quarter[7] - Consumer market in Mainland China was generally weak, with a decline in the number of customers and per capita spending at the Group's restaurants[9] - Business in Hong Kong was affected by customers' outbound travel spending[9] Marketing and Customer Engagement Strategies - The Group implemented marketing strategies including strengthening online platform promotions, enhancing commemorative banquet services, and strengthening members' loyalty[9] - The Group generated over RMB21 million in revenue from live-streaming marketing within a few months, significantly increasing customer traffic and establishing a new marketing model[11][12] - The Group has over 1.4 million members in Mainland China and Hong Kong as of 30 June 2024, with a focus on increasing member-exclusive benefits and promotions to maintain engagement and repurchase intentions[13][15] - The Group collaborated with a media agency in Q2 2024 to operate its own online platform, leveraging KOLs and short videos to boost online sales and attract new customers[11][12] - The Group launched themed marketing campaigns and exclusive packages during major festivals, promoted simultaneously on live-streaming platforms to attract a wide audience[11][12] - The Group adjusted its marketing strategies to consolidate resources for increased online exposure, collaborating with major platforms like Meituan and Dianping[11][12] - The Group focuses on creating memorable experiences through commemorative banquets and themed events, including personalized decorations, host services, and professional photography[13][15] Operational Efficiency and Supply Chain Management - The Group utilized the enterprise resource planning (ERP) system to optimize the supply chain and improve management efficiency[9] - The Group's cash and cash equivalents decreased by approximately RMB5.0 million to RMB316.4 million as of 30 June 2024[22][24] - Net cash generated from operating activities was approximately RMB56.9 million, while net cash used in investing activities was RMB33.8 million[22][24] - Depreciation of right-of-use assets amounted to RMB 27,325,000, slightly higher than the previous period's RMB 25,530,000[73] - Decrease in inventories contributed RMB 55,948,000 to cash flows from operating activities[73] Financial Position and Assets - The Group's total assets were approximately RMB779.0 million, with net current assets of RMB3.5 million and net assets of RMB244.8 million as of 30 June 2024[25][28] - The Group had no bank borrowings, with a gearing ratio of nil and a current ratio of 1.0 as of 30 June 2024[25][26][28] - Non-current assets decreased to RMB 388,327 thousand as of 30 June 2024, down from RMB 415,460 thousand at the end of 2023[70] - Current assets remained relatively stable at RMB 390,651 thousand, compared to RMB 390,277 thousand at the end of 2023[70] - Cash and cash equivalents stood at RMB 316,367 thousand, slightly lower than RMB 321,374 thousand at the end of 2023[70] - Total current liabilities decreased to RMB 387,100 thousand, down from RMB 388,155 thousand at the end of 2023[70] - Net current assets increased to RMB 3,551,000 from RMB 2,122,000, reflecting a 67.3% growth[71] - Total non-current liabilities decreased to RMB 147,037,000 from RMB 176,631,000, a 16.7% reduction[71] - Net assets grew to RMB 244,841,000 from RMB 240,951,000, a 1.6% increase[71] Expansion and Joint Ventures - The Group expanded into different cuisines through joint ventures, including a collaboration with a well-known Beijing cuisine group in Q1 2024, exploring further local and overseas market potential[14][15] - The company had no material acquisitions or disposals of subsidiaries, associated companies, or joint ventures during the period[34] Employee and Shareholder Information - The Group had over 2,700 employees as of 30 June 2024, with competitive remuneration and benefits including share awards and performance-related bonuses[30] - As of June 30, 2024, the company had over 2,700 employees, with competitive compensation including performance-based bonuses and benefits such as mandatory provident fund, insurance plans, and stock awards[35] - The trustee of the Share Award Scheme purchased 5,000,000 shares on the Stock Exchange during the period, with a total consideration of approximately RMB 1.8 million[39] - As of June 30, 2024, the directors and chief executive held significant interests in the company's shares, with Mr. Chan Man Wai holding the largest stake at 33.96%[47][48] - Current Success Investments Limited holds 247,944,000 shares, representing 23.04% of the company's total shares as of 30 June 2024[51] - Best Active Investments Limited holds 352,500,000 shares, representing 32.75% of the company's total shares as of 30 June 2024[51] - Bright Mind Investments Limited holds 105,700,000 shares, representing 9.82% of the company's total shares as of 30 June 2024[51] Share Award Scheme - The Share Award Scheme, adopted on 1 April 2021, has a remaining term of approximately 6 years and 7 months[53] - The maximum number of shares that can be awarded to a selected participant under the Share Award Scheme in any 12-month period is 1% of the issued shares[56] - As of the report date, 97,602,750 shares are available for issue under the Share Award Scheme, representing approximately 9.07% of the total issued shares[56] - The total number of shares available for grant under the Share Award Scheme is 97,602,750 shares, representing approximately 9.07% of the total issued shares as of the report date[58] - During the six months ended 30 June 2024, 5,000,000 shares were vested, with no new shares granted, lapsed, or canceled[61] - The estimated fair value of the awarded shares granted on 4 December 2023 was approximately HK$2,500,000, based on the closing price of HK$0.50 per share at the grant date[63] - The weighted average closing price immediately before the vesting date on 17 April 2024 was HK$0.375[63] Dividends and Financial Commitments - The Board resolved not to declare any interim dividend for the six months ended 30 June 2024, compared to an interim special dividend of HK2.50 cents per share for the same period in 2023[63] - A final dividend of HK1.50 cents per share for the year ended 31 December 2023, equivalent to approximately RMB14,688,000, was approved and distributed in July 2024[63] - The Group's capital commitment was approximately RMB1.4 million as of 30 June 2024, down from RMB5.9 million as of 31 December 2023[31] - The company's capital commitments as of June 30, 2024, were approximately RMB 1.4 million, down from RMB 5.9 million as of December 31, 2023[36] Tax and Compliance - Income tax expense was approximately RMB5.2 million, including withholding tax on dividend income of RMB1.5 million[21][23] - The Group's subsidiaries in Mainland China are subject to income tax at a rate of 25% for both 2024 and 2023[106] - Total tax charge for the period increased to RMB 5,230,000 in 2024 from RMB 3,994,000 in 2023, reflecting a 30.9% year-over-year increase[107] - The company confirmed compliance with the Corporate Governance Code and the Model Code for Securities Transactions by Directors during the period[40][41] - The audit committee reviewed the company's accounting principles, risk management, internal controls, and financial reporting, including the unaudited interim results[42] Fair Value Measurements - Fair value of unlisted equity investment designated at fair value through other comprehensive income was RMB 24,274,000 as of 30 June 2024[127] - Fair value of financial asset at fair value through profit or loss was RMB 24,409,000 as of 30 June 2024[127] - Fair value of financial asset at fair value through profit or loss decreased from RMB 26,209,000 as of 31 December 2023 to RMB 24,409,000 as of 30 June 2024[128] - Fair value of debt investments at Level 3 decreased from RMB 26,209,000 to RMB 24,409,000 during the period, reflecting a settlement of RMB 1,800,000[130] - No transfers of fair value measurements between Level 1 and Level 2, and no transfers into or out of Level 3 for financial assets and liabilities during the period[131] - The Group had no financial liabilities measured at fair value as of 30 June 2024 and 31 December 2023[132] Segment Reporting and Revenue Breakdown - The Group operates in four reportable segments: Northern, Eastern, Southern, and Western regions of China[82] - No single customer contributed more than 10% of the Group's total revenue during the period[84] - Revenue from external customers for the six months ended 30 June 2024 was RMB 527,309 thousand, a decrease from RMB 588,305 thousand in the same period in 2023[93] - Inter-segment sales for the six months ended 30 June 2024 were RMB 37,418 thousand, compared to RMB 32,016 thousand in the same period in 2023[93] - Total revenue from contracts with customers for the six months ended 30 June 2024 was RMB 527,309 thousand, down from RMB 588,305 thousand in the same period in 2023[93] - Revenue recognized from contract liabilities at the beginning of the reporting period for restaurant operations was RMB 149,419 thousand in 2024, slightly up from RMB 149,300 thousand in 2023[94] Other Financial Metrics - Other income for the six months ended 30 June 2024 was RMB 11,799 thousand, a decrease from RMB 16,946 thousand in the same period in 2023[97] - Depreciation of property, plant, and equipment for the six months ended 30 June 2024 was RMB 17,357 thousand, down from RMB 18,019 thousand in the same period in 2023[103] - Advertisement and promotion expenses for the six months ended 30 June 2024 were RMB 9,304 thousand, up from RMB 7,787 thousand in the same period in 2023[103] - Trade receivables decreased to RMB 8,412,000 as of 30 June 2024 from RMB 13,270,000 as of 31 December 2023, a reduction of 36.6%[116][118] - Prepayments and deposits classified as non-current assets decreased to RMB 28,290,000 as of 30 June 2024 from RMB 41,400,000 as of 31 December 2023, a decline of 31.7%[116] - Trade payables decreased to RMB 42,365,000 as of 30 June 2024 from RMB 52,255,000 as of 31 December 2023, a reduction of 18.9%[119][120] - Contract liabilities remained relatively stable at RMB 232,858,000 as of 30 June 2024 compared to RMB 236,251,000 as of 31 December 2023, a slight decrease of 1.4%[119] - Rental payments to related parties decreased to RMB 364,000 in 2024 from RMB 546,000 in 2023, a reduction of 33.3%[121] - Rental waivers from Dongguan Well Excellent Hotel Management Services Co., Ltd. amounted to RMB 182,000[122][123] - Rental waivers from Meco Group Company Limited amounted to RMB 220,000[122][123] Cash Flow and Investment Activities - Cash flows from operating activities generated RMB 56,981,000, a decrease from RMB 101,732,000 in the previous period[73] - Interest paid decreased to RMB 5,503,000 from RMB 5,485,000[73] - Income taxes paid were RMB 3,754,000, slightly higher than the previous period's RMB 3,324,000[73] - Net cash flows from investing activities decreased to RMB -33,798 thousand in H1 2024, compared to RMB 70,135 thousand in H1 2023[74] - Net cash flows used in financing activities were RMB -28,121 thousand in H1 2024, an improvement from RMB -50,618 thousand in H1 2023[74] - Cash and cash equivalents at the end of the period stood at RMB 316,367 thousand, down from RMB 377,383 thousand at the end of H1 2023[74] - Interest received from investing activities was RMB 3,015 thousand in H1 2024, up from RMB 2,740 thousand in H1 2023[74] - Purchases of property, plant, and equipment amounted to RMB -23,975 thousand in H1 2024, compared to RMB -3,287 thousand in H1 2023[74] - Cash and bank balances at the end of the period were RMB 144,797 thousand, down from RMB 190,831 thousand in H1 2023[74] Corporate Governance and Compliance - The company confirmed compliance with the Corporate Governance Code and the Model Code for Securities Transactions by Directors during the period[40][41] - The audit committee reviewed the company's accounting principles, risk management, internal controls, and financial reporting, including the unaudited interim results[42] - The company did not have any material contingent liabilities or pledged assets as of June 30, 2024[37] - The Group adopted revised HKFRS 16 and HKAS 1 standards, with no material impact on financial positions or performance[80]

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。 （於開曼群島註冊成立的有限公司） （股份代號：1181） 截至二零二四年六月三十日止六個月 中期業績公告 唐宮（中國）控股有限公司（「本公司」）董事會（「董事會」）謹此宣佈本公司及其附屬公司 （統稱「本集團╱集團」）截至二零二四年六月三十日止六個月（「本期間」╱「期內」）的未經 審核簡明綜合中期業績，連同截至二零二三年六月三十日止六個月的比較數字，並載述 如下： | --- | --- | --- | --- | |-----------------------------------------------------|-------------------------|-------------------|---------------| | | | | | | 摘要 | 截至六月三十日 止六個月 | | 變更 | | （人民幣千元） | 二零二四年 | 二零二三年 | 百分比 | | 收益 毛利 ...

Corporate Strategy and Operations - The company has progressively upgraded products and services across all branches since 2022, focusing on enhancing overall customer experience and creating memorable service moments[34]. - The strategic brand revitalization has garnered positive feedback, leading to a steady rebound in business in 2023[34]. - The company aims to strengthen existing operations, solidify customer base, and enhance customer loyalty for its core brand "Tang Palace" due to its broad consumer base and diverse dining scenarios[34]. - The company has introduced the "Soup Delice" business model targeting airport travelers, leveraging its experience in dim sum and soups[47]. - The company is exploring expansion opportunities in regions beyond Mainland China, with a focus on diversifying its culinary offerings[47]. - The company has seen significant growth in its "Tang Palace No. 1" brand, particularly in Shenzhen and Chengdu, which are identified as cities with high consumer potential[48]. - The company has initiated internal innovations to enhance management efficiency and service strategies through competitions and sharing sessions among regional branches[51]. - The company has introduced various new culinary styles, including Huaiyang and Sichuan cuisines, through joint ventures to enrich its portfolio[47]. - The Group is currently operating 35 restaurants and 16 other restaurants under joint ventures, with a focus on diverse cuisines such as Sichuan, Huaiyang, and Cantonese[85]. - The Group's joint venture restaurant business performance is in line with expectations, with a new modern Beijing-style hotpot brand opening in Hong Kong in Q1 2024[78]. - The Group's focus on enhancing dine-in experiences and encouraging repeat spending has stabilized and enhanced business performance[76]. - The Group aims to streamline workflow and improve personnel allocation efficiency to further enhance overall effectiveness in 2024[83]. Financial Performance - In 2023, the Group's revenue reached RMB1,122.9 million, representing a 19.2% increase compared to RMB942.0 million in 2022[94]. - The Group's gross profit margin improved significantly from 60.9% in 2022 to 66.3% in 2023[94]. - The total revenue of Hong Kong's restaurant sector surged by over 26% compared to 2022, benefiting from the full resumption of cross-border travel and various stimulus measures[91]. - The national catering industry in China achieved a 20.4% year-on-year revenue increase in 2023[91]. - The Shenzhen branch of "Tang's Cuisine" experienced a remarkable 40% growth in revenue, while the Chengdu branch showed a promising upward trend[98]. - The "Social Place" brand in Hong Kong saw nearly 60% revenue growth compared to 2022, driven by economic recovery and government consumer vouchers[98]. - The Group's overall revenue increased by 19.2% to approximately RMB 1,122.9 million, with a gross profit margin rising to 66.3% (2022: 60.9%) as of December 31, 2023[105]. - Profit attributable to owners of the Company for the year amounted to approximately RMB41.7 million, a significant recovery from a loss of approximately RMB150.9 million in 2022[130]. - The average spending per customer increased across various brands, with Tang's Cuisine at RMB471.6 in 2023 compared to RMB425.5 in 2022[129]. - The Group's rental and related expenses as a percentage of revenue were categorized as 3.0% in 2023, compared to 2.0% in 2022, indicating a shift in operational cost structure[86]. - Cash and cash equivalents increased by approximately RMB 66.4 million from approximately RMB 255.0 million as of December 31, 2022, to approximately RMB 321.4 million as of December 31, 2023[110]. Corporate Governance - The company has complied with all code provisions set out in the Corporate Governance Code throughout the year[10]. - The chairman of the Board meets with independent non-executive directors annually without the presence of executive directors[23]. - The Group has a strong governance structure with independent non-executive directors overseeing various committees, ensuring compliance and strategic oversight[180][185]. - The Board is responsible for optimizing the Group's financial performance and making decisions in the best interest of the Company[197]. - Independent non-executive directors provide diversified expertise and professional advice, ensuring a reasonable balance with executive directors[200]. - The Group's management emphasizes the importance of building and maintaining a core management team and establishing corporate culture[169]. - The Group's focus on corporate culture and management practices is aimed at improving overall business performance[169]. - The Group has established a Happiness Culture Department to assist in the implementation of management measures[197]. Employee Engagement and Corporate Culture - The company is committed to enhancing employee satisfaction and has conducted surveys to identify areas for improvement[53]. - The Group initiated monthly "Innovation Sharing Sessions" to promote innovation and mutual learning among employees[102]. - A dedicated training department has been established to align the Group's mission and strategy with its values and corporate culture[196]. - The Group aims to co-create a happy catering experience while instilling values of integrity, compliance, gratitude, mutual help, and collaborative growth among employees[196]. - The Group's leadership team has a diverse background in law, finance, and hospitality, contributing to its overall strategic direction and compliance[180][181]. Future Outlook and Expansion Plans - The Group plans to expand its business by opening a new restaurant in Hong Kong in collaboration with a well-known Beijing-style hot pot brand in Q1 2024[100]. - The introduction of a modern Beijing cuisine brand in early 2024 is expected to contribute positively to the Group's future expansion efforts[63]. - The Group's directors believe the Group has sufficient working capital for operations and expansion in the near future[135]. - The Group's strategic focus includes expanding its market presence and enhancing service quality through various initiatives led by experienced executives[178][181].

唐宮（中國）控股有限公司（「本公司」）董事會（「董事會」）謹此宣佈本公司及其附屬公司 （統稱「集團」或「本集團」）截至二零二三年十二月三十一日止年度（「本年度」）的綜合業 績，連同截至二零二二年十二月三十一日止年度的比較數字，並載述如下： | --- | --- | --- | --- | |-----------------------------------------------|-------|------------|------------| | | | 二零二三年 | 二零二二年 | | | 附註 | 人民幣千元 | 人民幣千元 | | 收益 | 3 | 1,122,911 | 941,964 | | 其他收入 | 3 | 33,167 | 34,707 | | 已耗存貨成本 | | (378,692) | (368,472) | | 員工成本 | | (437,306) | (418,053) | | 物業、廠房及設備項目折舊 | | (33,862) | (44,989) | | 使用權資產折舊 | | (52,231) | (66,427) | | 公共設施開支及消耗品 | | (55,7 ...

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 588,305,000, an increase of 32.4% compared to RMB 444,417,000 for the same period in 2022[84]. - Profit for the period was RMB 41,877,000, a significant recovery from a loss of RMB 86,484,000 in the same period last year[84]. - Basic and diluted earnings per share for the period were 3.86 RMB cents, compared to a loss of 7.94 RMB cents in the previous year[84]. - Total comprehensive income for the period was RMB 43,093,000, compared to a loss of RMB 85,173,000 in the same period last year[85]. - The profit attributable to owners of the Company for the Period amounted to approximately RMB 41.6 million, a significant recovery from a loss of approximately RMB 85.3 million in 2022[184][199]. Cash Flow and Liquidity - The net cash generated from operating activities was approximately RMB 101.7 million, while the net cash from investing activities was about RMB 70.1 million, which included cash outflow of approximately RMB 3.3 million for the purchase of properties, plants, and equipment[2]. - Cash and cash equivalents increased significantly to RMB 377,383,000 as of June 30, 2023, compared to RMB 254,987,000 as of December 31, 2022, marking a growth of 47.9%[77]. - The Group's net cash generated from operating activities during the Period was approximately RMB 101.7 million, while net cash used in financing activities amounted to approximately RMB 50.6 million[176]. - The current ratio as of June 30, 2023, was 1.1, indicating improved liquidity compared to 1.0 at the end of 2022[187]. - The gearing ratio was nil as of June 30, 2023, down from 10.5% at the end of 2022, reflecting no bank borrowings[178]. Assets and Liabilities - Total non-current assets decreased to RMB 318,086,000 as of June 30, 2023, from RMB 336,612,000 as of December 31, 2022, reflecting a decline of 5.5%[77]. - Total current assets increased to RMB 447,429,000 as of June 30, 2023, up from RMB 416,493,000 as of December 31, 2022, representing a growth of 7.5%[77]. - Total current liabilities slightly decreased to RMB 395,489,000 as of June 30, 2023, from RMB 399,338,000 as of December 31, 2022[77]. - Non-current liabilities decreased to RMB 81,196,000 from RMB 108,030,000, a reduction of approximately 25%[86]. - The Group's total assets increased to approximately RMB 765.5 million as of June 30, 2023, compared to RMB 753.1 million at the end of 2022[186]. Employee and Operational Insights - As of June 30, 2023, the Group had over 3,000 employees, emphasizing the importance of qualified personnel for restaurant operations and expansion[9]. - Staff costs for the six months ended June 30, 2023, were RMB 216,004,000, up from RMB 207,904,000 in the same period last year, indicating a rise of 3.3%[84]. - The Group's percentage of revenue on staff costs decreased to 36.7% from 46.1% in 2022, and the percentage of revenue on depreciation of right-of-use assets fell to 4.3% from 7.8% in 2022[173]. - The Group operated 37 self-owned restaurants and invested in 17 other restaurants under joint ventures as of June 30, 2023[182]. Strategic Initiatives and Market Performance - The Group implemented various effective strategies to increase revenue, focusing on enhancing dining experiences and creating memorable events for customers[149]. - The introduction of new star products and optimization of food quality contributed to improved customer impressions and brand loyalty[150]. - The Group expanded its retail product variety, achieving significant sales growth during the reporting period[151]. - Livestream marketing was strategically optimized, with the Group integrating it into dedicated management and planning regular promotional activities[152]. - The festive atmosphere of the Lunar New Year contributed to increased customer traffic and improved business across various regions in Mainland China[140]. Shareholder and Governance Matters - The Board has declared an interim special dividend of HK2.50 cents per ordinary share for the period, compared to nil in 2022, with payment expected on November 17, 2023[51]. - Changes in the Board include the resignation of Mr. Cheung Kin Ting Alfred and the appointment of Mr. Chan Kin Shun and Mr. Kwong Ping Man on April 18, 2023[56]. - The interests of directors and chief executives in shares as of June 30, 2023, included Mr. Yip Shu Ming with 247,644,000 shares, representing 23.01% of the total shareholding[29].

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。 （於開曼群島註冊成立的有限公司） （股份代號：1181） 截至二零二三年六月三十日止六個月 中期業績公告 唐宮（中國）控股有限公司（「本公司」）董事會（「董事會」）謹此宣佈本公司及其附屬公司 （統稱「本集團╱集團」）截至二零二三年六月三十日止六個月（「本期間」╱「期內」）的未經 審核簡明綜合中期業績，連同截至二零二二年六月三十日止六個月的比較數字，並載述 如下： 摘要 截至六月三十日 止六個月 變更 二零二三年 二零二二年 百分比 收益（人民幣千元） 588,305 444,417 32.4% 毛利（人民幣千元）(1) 390,443 265,996 46.8% ...

Business Performance - In 2022, the turnover of "Takeaway to Home" exceeded RMB 166 million, reflecting a significant growth in takeaway product offerings [26]. - The debut of Tang Palace's live streaming room in January 2022 recorded a turnover exceeding RMB 0.6 million on a private realm platform and over RMB 1.0 million on a public realm platform [26]. - In 2022, the "Takeaway" business achieved a revenue of over RMB 166 million, with a single private live-streaming event generating over RMB 600,000 in sales [28]. - Takeaway business revenue remained stable at RMB 165.6 million in 2022 despite weak consumption sentiment [59]. - The Group's revenue for the year was RMB 942.0 million, a decrease of 30.8% compared to the previous year [56]. - The catering income in Mainland China decreased by 6.3% year-on-year due to economic downturn and weak consumption [53]. - The Group's overall revenue for the year decreased by 30.8% to approximately RMB 942.0 million, with a gross profit margin of 60.9% compared to 62.2% in 2021 [75]. - The total retail sales of consumer goods in Mainland China decreased by 0.2% year-on-year, reflecting the challenging economic environment [53]. Brand Development and Marketing - The company upgraded its main brand "Tang Palace" and launched a new menu, focusing on cooking techniques, utensils, culinary arts, and service environment to achieve consumption upgrades [25]. - Tang Palace expanded its star brand "Tang's Cuisine," emphasizing quality, safety, health, and environmental friendliness in its offerings [25]. - The company implemented a large-scale marketing model during the Pandemic, establishing store communities and community group purchases to support customers [26]. - The Group is focusing on brand upgrading and cooperation to explore new business growth opportunities [24]. - The Group's membership marketing strategy focuses on stabilizing member consumption, which is higher in frequency and amount compared to non-members [63]. - The Group's online takeaway menu was optimized for better searchability and sales guidance, catering to the changing consumer behavior [60]. Employee and Community Engagement - Over the past three years, the Group provided more than 7,000 training courses with 160,000 participants, resulting in over 200 staff promotions to supervisory roles [38][41]. - The establishment of the Humanity Wellness Department aims to improve employee well-being and corporate culture, focusing on care, connection, praise, and growth [32][35]. - The Group contributed approximately RMB 2 million to various charity activities over the past three years, including medical assistance and support for flood-stricken areas [39][41]. - The Group's "Happiness Credit Points" program has seen over 360,000 happy stories shared by partners since its launch in June 2022 [33][35]. - The Group's community customer base has grown to over 10,000, facilitating targeted sales activities and logistics arrangements [62]. Financial Management and Assets - The Group's cash and cash equivalents decreased by approximately RMB 148.0 million from RMB 403.0 million in 2021 to RMB 255.0 million in 2022 [83]. - Net cash used in operating activities during the year amounted to approximately RMB 44.3 million, while net cash used in financing activities was approximately RMB 108.7 million [84][87]. - The Group's total assets as of December 31, 2022, were approximately RMB 753.1 million, down from approximately RMB 1,034.0 million in 2021 [85]. - The current ratio as of December 31, 2022, was 1.0, down from 1.3 as of December 31, 2021, indicating a decrease in liquidity [90]. - The Group's bank borrowings amounted to approximately RMB 25.8 million as of December 31, 2022, compared to RMB 52.2 million as of December 31, 2021, resulting in a capital debt ratio of 10.5% [88]. Corporate Governance and Leadership - The Group has a strong leadership team with founders who have extensive experience in the restaurant business, including Mr. Yip, Mr. Chan, and Mr. Ku, who have been with the group since its establishment in 1992 [116][120][124]. - The company is focused on corporate strategic development, with all executive directors actively involved in this area [116][120][124]. - The Group has a strong management team with extensive experience in finance, catering, and legal sectors, enhancing corporate governance and strategic development [134]. - The Company has complied with all code provisions of the Corporate Governance Code throughout the year [160]. - The Board consists of nine members, including six executive directors and three independent non-executive directors, with a focus on diversification [167]. Risk Management and Compliance - The Company has established a Risk and Control Committee, which includes the chairman, CEO, CFO, and an independent non-executive director, to review and assess the effectiveness of internal control measures [186]. - The Company ensures compliance with the Listing Rules and applicable laws through the implementation of remedial plans recommended by the internal audit department [187]. - The risk management and internal control systems are designed to manage significant risks, including environmental, social, and governance risks [188]. - The Company promotes anti-corruption laws and regulations through its corporate culture and clear policies, forming an integrity promotion mechanism [193]. - The Company has established a specific whistleblowing policy and system, allowing employees and external parties to anonymously raise concerns about possible improprieties [193].

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。 （於開曼群島註冊成立的有限公司） （股份代號：1181） 截至二零二二年十二月三十一日止 年度的年度業績公告 唐宮（中國）控股有限公司（「本公司」）董事會（「董事會」）謹此宣佈本公司及其附屬公司 （統稱「集團」或「本集團」）截至二零二二年十二月三十一日止年度（「本年度」）的綜合業 績，連同截至二零二一年十二月三十一日止年度的比較數字，並載述如下： 摘要 截至十二月三十一日 止年度 變動百分比 二零二二年 二零二一年 % 收益（人民幣千元） 941,964 1,361,296 (30.8%) 毛利（人民幣千元）(1) 573,492 846,829 (32.3%) 毛利率 60.9% 62.2% (1.3%) 本公司擁有人應佔年內（虧損）╱溢利 （人民幣千元） (150,934) 40,570 (472.0%) ...

Economic Impact - In the first half of 2022, the catering industry in China recorded a nationwide revenue of RMB 2,004 billion, down by 7.7% year-on-year[10]. - The GDP of Mainland China for the first half of 2022 was RMB 56.2 trillion, representing a year-on-year increase of 2.5%, with a significant slowdown to 0.4% growth in the second quarter[10]. - The overall economic environment was impacted by the Ukraine crisis, leading to rising oil prices and inflation, creating uncertainty[10]. - The pandemic's impact on the catering industry was highlighted by a shift from positive growth in Q1 to a double-digit decline in Q2[10]. Revenue and Financial Performance - The Group's overall revenue for the six months ended June 30, 2022, was RMB 444.4 million, a year-on-year decrease of 37.8% compared to RMB 714.5 million in the same period of 2021[16][18]. - Revenue for the six months ended June 30, 2022, was RMB 444,417, a decrease of 37.8% compared to RMB 714,453 in the same period of 2021[107]. - The loss attributable to owners of the Company for the period was approximately RMB 85.3 million, compared to a profit of approximately RMB 32.4 million in 2021[36]. - The loss before tax for the six months ended June 30, 2022, was RMB 84,387,000, compared to a profit of RMB 49,318,000 in 2021, indicating a significant downturn in financial performance[152]. - Total comprehensive loss for the period was RMB 85,173, compared to a comprehensive income of RMB 30,898 in the previous year[109]. Operational Challenges - The Shanghai region, a key business area for the Group, faced a complete lockdown for four months, severely impacting revenue[13]. - In Northern China, branches had to close for two months due to the 2022 Winter Olympics and faced additional restrictions from the pandemic in May[13]. - Guangdong experienced temporary closures and dine-in service suspensions, affecting customer flow and operations[13]. - The pandemic significantly impacted operations, particularly in regions like Shanghai and Beijing, leading to temporary closures and a shift to online and community marketing strategies[16][18]. Strategic Responses - The Group implemented proactive measures in Eastern China, including WeChat group marketing and community group purchases, to adapt to the pandemic restrictions[13]. - The Group launched special holiday products targeting key dates such as Labour Day and Mother's Day to boost sales during dine-in suspensions[13]. - The Group's proactive approach during the pandemic included setting up a special department for customer relationship management and emphasizing online marketing initiatives[17][19]. - The Group plans to accelerate business expansion in the South West region and enhance research in second-tier cities with potential[27]. Membership and Community Engagement - The Group's membership exceeded 780,000 since the launch of electronic membership in the second half of 2021, with continuous promotional activities driving member growth[17][19]. - The Group's community size reached 12,000 people, with ongoing growth driven by targeted social marketing strategies[22][24]. - The Group focused on upgrading membership benefits and launched various member-exclusive promotions to strengthen member loyalty[17][19]. Cost Management - Staff costs amounted to approximately RMB 204.9 million, representing a decrease of approximately RMB 21.3 million or approximately 9.4% from RMB 226.2 million for the same period in 2021[33]. - The Group's utility and consumables expenses amounted to approximately RMB28.0 million, a decrease of approximately 29.5% from RMB39.7 million in 2021[36]. - Other expenses decreased by approximately RMB1.4 million or approximately 2.5%, totaling RMB54.8 million compared to RMB56.2 million in 2021[36]. Shareholder Information - As of June 30, 2022, Ms. Weng Peihe held 32,450,000 shares, representing approximately 3.01% of the total shareholding[70]. - Mr. Yip Shu Ming held 247,644,000 shares, representing approximately 23.01% of the total shareholding[70]. - The total shareholding percentages indicate a significant concentration of ownership among a few substantial shareholders[79]. - The ownership structure shows a complex web of controlled corporations and trusts, indicating potential strategic alignment among major shareholders[81]. Share Award Scheme - The Company adopted the Share Award Scheme on April 1, 2021, which is valid for a term of 10 years[86]. - A total of 5,000,000 shares were awarded and vested to selected participants, representing approximately 0.465% of the issued share capital as of the report date[94]. - The Share Award Scheme aims to retain and attract suitable personnel for the Group's growth and development[87]. Cash Flow and Assets - Cash and cash equivalents decreased by RMB31.5 million from RMB403.0 million as of December 31, 2021, to RMB371.5 million as of June 30, 2022[36]. - The Group's total assets were RMB921.9 million as of June 30, 2022, down from RMB1,034.0 million as of December 31, 2021[38]. - The company reported a decrease in cash generated from operations, reporting a net cash outflow of RMB 19,293,000 for the six months ended June 30, 2022, compared to an inflow of RMB 129,445,000 in 2021[119]. Liabilities and Financial Ratios - The gearing ratio increased to 16.5% as of June 30, 2022, from 12.5% as of December 31, 2021[39]. - The current ratio was 1.2 as of June 30, 2022, compared to 1.3 as of December 31, 2021[40]. - Total liabilities increased slightly to RMB 590,194 as of June 30, 2022, compared to RMB 586,082 at the end of 2021[111].