BEST FOOD HOLDING COMPANY LIMITED 百 福 控 股 有 限 公 司 （ 於開曼群島註冊成立之有限公司） （股份代號：01488） 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之內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示概不會就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之任何損失 承擔任何責任。 年度業績公告 截至2024年12月31日止年度 年內經調整虧損為非公認會計準則財務計量及按撇除可換股債券利息、無形資產減值、聯營公司投資減值 以及無形資產減值之稅務影響後的年內虧損計算。本集團將該經調整虧損作為額外財務計量，以補充按照 香港財務報告準則（「香港財務報告準則」）呈列的綜合財務報表，以便於評估本集團財務表現時撇除本集團 認為屬本集團業務表現指標的若干非經營項目的影響。 該非公認會計準則財務計量作為分析工具存在局限性，且應被視為根據香港財務報告準則編製的本公司財 務表現分析的補充而非替代計量。該非公認會計準則財務計量的定義可能與其他公司所用的類似詞彙有所 不同。本集團呈列該非公認會計準則財務計量不應被詮釋為本集團日後業績將不會受到該等項 ...

√ 百福控股 咖喱猪排 小锅现炒 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立之有限公司) Stock Code 股份代號 : 1488 INTERIM 《重复盟吧 照猫烫火锅 ZILE LD OTT 锅仔烤串 粥面馆 小锅现炒 咖喱猪掉 2 132 no C Contents 目錄 | --- | --- | --- | |-------|--------------------------------------------------------------------------------------------|-------| | | | | | | | | | | | | | | | | | | Corporate Information 02 公司資料 | | | | Management Discussion and Analysis 04 管理層討論及分析 | | | | Interim Results 25 中期業績 | | | | Interim Condensed Consolidate ...

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之內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示概不會就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之任何損失 承擔任何責任。 附註： BEST FOOD HOLDING COMPANY LIMITED 百 福 控 股 有 限 公 司 （ 於開曼群島註冊成立之有限公司） （股份代號：01488） 截至2024年6月30日止6個月 中期業績公告 | --- | --- | --- | |----------------------------------------------------------------------------------------------------|------------------------------------------------------|-----------------------------------------------------| | 財 務 摘 要 | 截 至 6 月 2024 年 千 人 民 幣 （ 未 經 審 核 ） | 30日止6 個 月 2023 年 千 ...

. . ● . . · • . (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立之有限公司) Stock Code 股份代號：1488 . . 百福控股有限公司 二零二三年年報 01 CORPORATE INFORMATION (CONTINUED) 公司資料（續） Hong Kong: Citibank, N.A. China Merchants Bank Co., Ltd. Principal Share Registrar and Transfer Office Stock Code 總辦事處 股份代號 http://www.bestfoodholding.com 尊敬的股東： At the beginning of 2023, the catering industry witnessed a recovery in consumption, which also attracted numerous crossindustry operators. Throughout the year, the compe ...

附註： (b) 誠如上文(iv)所述，於2022年12月19日，可換股債券的到期日已由2023年11月23日延長至2025年11 月23日。根據管理層的評估，上述延長的到期日並不構成對可換股債券的重大修改，因此不會導致 可換股債券失效。 因此，於2022年12月19日，本集團利用原實際利率（ 即7.79% ）調整可換股債券賬面值至經修訂條款 項下之現金流量現值，即537,870,000港元（ 相當於約481,787,000元人民幣 ）。經調整賬面值及緊接修 改前之先前賬面值之間差額48,906,000港元（ 相當於約43,688,000元人民幣 ）確認為視為股東注資，並 作為特別儲備計入股東權益。 (c) 截至2023年及2022年12月31日止年度，並無可換股債券獲轉換。 15 股息 董事會議決不就截至2023年12月31日止年度宣派任何股息（ 2022年：無）。 於2023年12月31日後及直至本業績公告日期，並無發生影響本集團的重大事項。 – 32 – 末期股息 董事會議決不宣派截至2023年12月31日止年度之末期股息（ 2022年：無）。 流動資金、財務資源及資本結構 本集團一般以內部產生的現金流、 ...

6 收入及分部資料 | --- | --- | --- | --- | --- | |--------------------------|----------|-------|--------------------------------------------------------------------------------------------------|----------------------------------------------------------------| | | | | Six months ended 30 June 截至 6 月 30 \n2023 \nRMB'000 千人民幣 (Unaudited) （未經審核） | 日止 6 個月 \n2022 \nRMB'000 千人民幣 (Unaudited) （未經審核） | | Restaurant operation | 餐廳經營 | | 168,760 | 158,979 | | Delivery business | 外賣業務 | | 104,458 | 89,113 | | Sale of food in ...

截至2023年6月30日，本集團之流動負債超過其流動資產人民幣96,209,000元。本集團之流動資金主要視 乎其能否維持充足營運現金流入及足夠融資以履行其到期之財務責任。考慮到本集團有能力自其未來經 營活動產生現金流入淨額，本公司董事認為，本公司具有足夠資金以履行本集團於2023年6月30日起12 個月期間之債務義務及資本支出要求。因此，本簡明綜合中期財務資料已根據持續經營基準編製。 本集團尚未應用的已頒佈準則的影響 本公司執行董事為主要經營決策者（「主要經營決策者」）。主要經營決策者定期審閱本集團之中期報告， 從而評估表現及分配資源。主要經營決策者已根據該等報告釐定經營分部。 本集團的主要市場在中國，向海外客戶的銷售額對收入的貢獻不足10%，且本集團概無位於中國境外的 非流動資產。因此，並無呈列地區資訊。 (a) 政府補助主要來自根據相關稅收政策取得的退稅及來自資產相關政府補助遞延政府補助的攤銷。概 無有關該等補助的未履行情況或其他或然情況。本集團並無直接受惠於任何其他形式的政府資助。 未經審核 截至6月30日止6個月 2023年 2022年 千人民幣 千人民幣 即期所得稅 香港利得稅 — — 根 據 利 ...

T福控股 (Incorporated in the Cayman Islands with limited liability) Stock Code 股份代號 : 1488 (於開曼群島註冊成立之有限公司) 皇 腓味煲仔饭 Practice is Better ma 0 KRAND IN HILLING ty BA 8 P (2) C a in 800 Billiamb A 0 (3) (B d 177 | --- | --- | --- | |--------------|-------|------------------------------------------------------------------| | | | | | 目錄 CONTENT | 02 | Corporate Information 公司資料 | | | 04 | Chairman's Statement 主席報告 | | | 07 | Management Discussion and Analysis 管理層討論與分析 | | | 20 | Corporate Governance Report 企業管治報告 | ...

Franchise and Brand Development - The company's franchise empowerment strategy has led to the establishment of a multi-brand franchise network across multiple regions, with strategic agreements signed with national commercial real estate companies in 2022[2] - The company completed two angel round investments in 2022, including the hot pot brand "Zhao Cai Feng Zhua" and the small hot pot brand "Panda Tang," contributing to the valuation growth of its portfolio companies[3] - The company plans to focus on enhancing digital development and operational capabilities, as well as supporting franchisees and increasing the value of invested brands[50] - The company expanded its presence in new regions, with brands like "Meet the Noodles" and "Baozai King" achieving breakthroughs in multiple cities and markets[182] Membership and Digital Growth - The company's membership base grew from 16.0 million at the beginning of the year to 23.0 million by the end of 2022, driven by multi-channel traffic empowerment strategies including live streaming, short video content, and community marketing[2] - The company's digital team developed lightweight POS systems, mini-program ordering systems, and membership management systems, which are being rolled out across multiple brands[180] - The company's smart delivery system and franchise management big data system were established to enhance operational decision-making and support franchise business growth[183] Financial Performance and Losses - Revenue for 2022 decreased to RMB 537.51 million from RMB 752.96 million in 2021, a decline of 28.6%[38] - Net loss for 2022 was RMB 166.71 million, compared to a net loss of RMB 651.84 million in 2021, showing a significant improvement[38] - The adjusted loss for the year was RMB 102.983 million, compared to a loss of RMB 166.708 million in 2022 and RMB 651.837 million in 2021, with significant contributions from convertible bond interest and derivative financial instrument fair value changes[11] - Total comprehensive loss for the year attributable to equity holders of the company was RMB 180,757 thousand, compared to RMB 640,496 thousand in the previous year[56] - Basic loss per share attributable to equity holders of the company was RMB 9.90 cents, compared to RMB 40.52 cents in the previous year[57] - Total comprehensive loss for the year was RMB 191,366 thousand, compared to RMB 652,694 thousand in the previous year[68] - The company reported a net loss per share of 9.90 RMB in 2022, an improvement from 40.52 RMB in 2021[92] - The company's basic loss per share for 2022 was RMB (156,242) thousand, compared to RMB (639,639) thousand in 2021[117] - Net loss attributable to equity holders of the company improved to RMB 156.2 million in 2022 from RMB 639.6 million in 2021, primarily due to the absence of impairment losses on goodwill and other intangible assets in 2022[176] Financial Expenses and Liabilities - Financial expenses increased by 8.1% from RMB 48.0 million in 2021 to RMB 51.9 million in 2022, primarily due to increased convertible bond interest, partially offset by reduced lease liability interest from store closures[10] - The company's lease liabilities decreased by 23.2% from RMB 284.1 million in 2021 to RMB 218.2 million in 2022, mainly due to rental payments and partial store closures[18] - The company extended the maturity date of its convertible bonds to the seventh anniversary of the issuance date, from November 23, 2023, to November 23, 2025, with investor consent[22] - Convertible bonds and related interest increased to RMB 548.4 million in 2022 from RMB 502.1 million in 2021, a rise of 9.2%[48] - Short-term borrowings stood at RMB 14.8 million in 2022, slightly down from RMB 15.0 million in 2021[52] - The maturity date of convertible bonds was extended from November 23, 2023, to November 23, 2025, with an adjusted carrying amount of RMB 481,787,000[156] - The carrying amount of convertible bonds as of December 31, 2022, was RMB 16,366,000 for the current portion and classified as non-current liabilities for the remaining balance[160] Revenue and Income Breakdown - Revenue from customer contracts primarily comes from the Chinese market, with overseas sales contributing less than 10% of total revenue[65] - Total revenue for the year ended December 31, 2022, was 9,874 thousand RMB, a decrease from 18,085 thousand RMB in 2021[79] - Franchise income decreased to 4,905 thousand RMB in 2022 from 6,182 thousand RMB in 2021[79] - Government subsidies dropped significantly to 1,645 thousand RMB in 2022 from 4,331 thousand RMB in 2021[79] - Loss from restaurant closures amounted to 1,528 thousand RMB in 2022[81] - The company recorded a deferred tax benefit of 15,518 thousand RMB in 2022, compared to 20,059 thousand RMB in 2021[85] - Income tax credits increased from RMB 13.8 million in 2021 to RMB 15.5 million in 2022 due to increased losses that can be carried forward to future years[186] Asset and Liability Management - Inventory decreased from RMB 35.2 million in 2021 to RMB 24.2 million in 2022, a reduction of 31.3%[46] - Trade and other receivables decreased by 9.9% from RMB 100.2 million in 2021 to RMB 90.3 million in 2022[47] - Trade and other payables decreased from RMB 178.8 million in 2021 to RMB 168.0 million in 2022, a decline of 6.0%[47] - Right-of-use assets decreased to RMB 188.4 million in 2022 from RMB 274.0 million in 2021, a reduction of 31.2%[45] - Total assets decreased to RMB 1,343,356 thousand from RMB 1,520,296 thousand year-over-year[70] - Current liabilities exceeded current assets by RMB 113,082 thousand as of December 31, 2022[77] - Property, plant, and equipment decreased to RMB 80,140 thousand from RMB 99,195 thousand year-over-year[70] - Cash and cash equivalents decreased to RMB 34,097 thousand from RMB 62,571 thousand year-over-year[70] - The group's asset-to-liability ratio increased to 72% in 2022 from 56% in 2021, calculated as net debt divided by total capital[194] - Trade payables decreased from RMB 59.166 million in 2021 to RMB 53.855 million in 2022, with related party payables increasing from RMB 6.608 million to RMB 7.604 million[192] Operational Costs and Expenses - Employee benefit expenses decreased by 20.6% from RMB 217.9 million in 2021 to RMB 173.0 million in 2022, primarily due to reduced working hours during pandemic lockdowns[155] - Right-of-use asset depreciation decreased by 18.1% from RMB 103.4 million in 2021 to RMB 84.7 million in 2022, mainly due to the closure of underperforming restaurants[155] - Property rental expenses for office space decreased to 442 thousand RMB in 2022 from 1,627 thousand RMB in 2021[90] - Restaurant rental expenses (fixed payments) decreased to 7,033 thousand RMB in 2022 from 9,231 thousand RMB in 2021[90] - COVID-19 related rental concessions amounted to 5,890 thousand RMB in 2022, compared to 921 thousand RMB in 2021[90] - Depreciation and amortization expenses totaled 112,296 thousand RMB in 2022, down from 144,641 thousand RMB in 2021[102] - Raw materials and inventory costs decreased by 27.7% to RMB 208.1 million in 2022 from RMB 288.0 million in 2021, mainly due to reduced store operations during the pandemic[165] - Online platform service fees and delivery fees increased by 4.0% to RMB 38.6 million in 2022, accounting for 18.6% of delivery business revenue, up from 18.0% in 2021[166] - Other asset depreciation and amortization decreased by 33.0% to RMB 27.6 million in 2022, accounting for 5.1% of revenue, down from 5.5% in 2021[174] - Property rental and related expenses decreased by 41.8% to RMB 18.8 million in 2022, accounting for 3.5% of revenue, down from 4.3% in 2021, due to pandemic-related rent concessions and store closures[174] - Other expenses decreased by 42.5% from RMB 95.8 million in 2021 to RMB 55.1 million in 2022, primarily due to reduced maintenance costs (RMB 7.6 million) and advertising expenses (RMB 7.3 million)[185] Impairment and Valuation - The goodwill and trademarks of Hehegu Group and Xindao Group were subject to impairment review due to lower-than-expected operating performance in 2022, impacted by the COVID-19 pandemic[111] - Hehegu Group's recoverable amount as of December 31, 2022, was approximately RMB 432 million, 25.7% higher than its carrying amount[122] - Xindao Group's recoverable amount was determined using the fair value less costs to sell method, with no impairment identified as of December 31, 2022[126] - The company recognized a total impairment loss of RMB 646.463 million, primarily related to goodwill and identifiable net assets[130] - Goodwill impairment amounted to RMB 535,436 thousand, with a total impairment of RMB 566,455 thousand[134] - The fair value less costs to sell of Xinladao Group was RMB 249 million, 11.1% higher than its carrying amount[138] - Impairment losses recognized in 2021 amounted to RMB 646.463 million[191] - Goodwill impairment of RMB 535.436 million was recognized in the comprehensive income statement, with RMB 31.019 million allocated to trademarks with indefinite useful lives[199] Investment and Financing - The company initiated the development of a big data platform and business intelligence (BI) analysis system, marking the beginning of its intelligent data platform construction[4] - The weighted average annual interest rate for bank loans decreased from 4.35% in 2021 to 4.01% in 2022[28] - The company's partial disposal and dilution of investments in associates resulted in a net gain of RMB 82.041 million in 2021[114] - The group entered into a 2020 investment agreement for the issuance of convertible bonds with a total principal amount not exceeding HKD 780 million[200] System-wide Sales and Store Operations - System-wide sales for 2022 increased by 5.1% to RMB 2,670 million, with the total number of stores reaching 878, including over 160 new directly operated and franchised stores[182] - Group revenue decreased by 28.6% from RMB 753.0 million in 2021 to RMB 537.5 million in 2022, with restaurant operating revenue dropping by 43.6% from RMB 500.9 million to RMB 282.5 million due to pandemic-related store closures and suspended dine-in services[184] Credit and Provisions - The group's expected credit loss provision decreased from RMB 406 thousand in 2021 to RMB 361 thousand in 2022, with provisions of RMB 177 thousand made during the year[189] - The group had no significant contingent liabilities as of December 31, 2022, and no committed capital expenditures for property, plant, and equipment not included in the financial statements[196] Miscellaneous - No dividends were declared for the year ended December 31, 2022, consistent with the previous year[27] - The company's main business is chain catering operations[76] - The company's liquidity depends on its ability to maintain sufficient operating cash inflows and adequate financing to meet its financial obligations[77] - The total goodwill as of December 31, 2021, was RMB 615,444 thousand[141] - The fair value of derivative financial instruments at the initial recognition date was RMB 46,631,000, recognized as a capital contribution and included in equity as a special reserve[146] - Trade and other receivables as of December 31, 2022, amounted to RMB 13,376 thousand, with RMB 934 thousand from related parties and RMB 12,803 thousand from third parties[148] - Revenue for 2022 decreased by 28.6% to RMB 537.5 million compared to RMB 752.9 million in 2021[161] - Basic loss per share was -19[133]

> 百福控股 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立之有限公司) Stock Code 股份代號 : 1488 na. 美元上第一章 l BEST INT EPORT 告 報 2 0 2 2 O 9 C 員獨 l un Contents 目錄 02 32 34 05 30 35 30 37 Interim Condensed Consolidated Balance Sheet 中期簡明綜合資產負債表 Corporate Information 公司資料 Interim Condensed Consolidated Statement of Changes in Equity 中期簡明綜合權益變動表 Management Discussion and Analysis 管理層討論及分析 Interim Results 中期業績 Interim Condensed Consolidated Statement of Cash Flow 中期簡明綜合現金流量表 Notes to the Condensed Con ...