Group 1 - The company reported a revenue of HKD 1.712 billion for the six months ending June 30, 2025, representing a year-on-year increase of 6.19% [1] - The profit attributable to shareholders was HKD 40.813 million, showing a significant year-on-year increase of 280.75% [1] - The basic earnings per share were HKD 0.0419 [1]

Group 1 - The company reported revenue of HKD 1.712 billion for the six months ending June 30, 2025, representing a year-on-year increase of 6.19% [1] - The profit attributable to shareholders was HKD 40.813 million, showing a significant year-on-year increase of 280.75% [1] - The basic earnings per share were HKD 0.0419 [1]

Group 1 - The company, Tai Hing Group (06811), announced that it will distribute an interim dividend of HKD 0.035 per share on October 16, 2025 [1]

Core Viewpoint - Tai Hing Group (06811.HK) reported a 6.2% increase in revenue to approximately HKD 1.7122 billion for the first half of 2025, driven by effective marketing strategies and popular product offerings [1] Financial Performance - The group's gross profit reached approximately HKD 1.2564 billion, with a gross profit margin of 73.4% [1] - Shareholders' profit attributable to the company was approximately HKD 40.8 million, representing a significant increase of 280.8% compared to the same period last year [1] - Basic earnings per share for shareholders were HKD 0.0419 [1] - The company proposed an interim dividend of HKD 0.035 [1] Operational Efficiency - The company effectively controlled employee and rental costs through rigorous cost management measures [1] - Ongoing store integration strategies are beginning to show positive results [1] Financial Stability - As of June 30, 2025, the company had no bank borrowings and maintained cash and cash equivalents of HKD 282.3 million [1] - The company has a strong financial position with stable operating cash flow, allowing it to respond flexibly to market changes [1]

| EF001 | | --- | EF001 免責聲明 | 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。 | 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 | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 太興集團控股有限公司 | | 股份代號 | 06811 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至二零二五年六月三十日止六個月之中期股息 | | 公告日期 | 2025年8月22日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 中期（半年期） | | 股息性質 | 普通股息 | | 財政年末 | 2025年12月31日 | | 宣派股息的報告期末 | 2025年6月30日 | | 宣派股息 | 每 股 0.035 HKD | | 股東批准日期 | 不適用 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | 每 股 0.035 HKD | | ...

Company Announcements [Disclaimer](index=1&type=section&id=%E5%85%8D%E8%B2%AC%E8%81%B2%E6%98%8E) Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited are not responsible for the accuracy or completeness of this announcement - HKEX and SEHK assume no responsibility for the content of this announcement[1](index=1&type=chunk) [Interim Results Announcement Summary](index=1&type=section&id=%E4%B8%AD%E6%9C%9F%E6%A5%AD%E7%B8%BE%E5%85%AC%E5%91%8A%E6%91%98%E8%A6%81) Tai Hing Group achieved significant revenue and profit growth in H1 2025, driven by restaurant network optimization and stringent cost control, despite market challenges Key Financial Highlights | Indicator | H1 2025 (HK$ thousands) | H1 2024 (HK$ thousands) | YoY Growth (%) | | :--- | :--- | :--- | :--- | | Total Revenue | 1,712,240 | 1,612,488 | 6.2% | | Profit Attributable to Company Shareholders | 40,800 | 10,700 | 280.8% | | Cash and Cash Equivalents (End of Period) | 282,300 | N/A | N/A | | Interim Dividend (HK cents per share) | 3.50 | 2.50 | 40.0% | - The Group actively optimized its restaurant network, expanded new brands, and renovated stores to meet customer demand[2](index=2&type=chunk) - The Group strictly controlled costs, streamlined operational processes, and negotiated favorable terms with landlords and suppliers[2](index=2&type=chunk) - The Group recorded **HK$282.3 million** in cash and cash equivalents as of June 30, 2025, with no bank borrowings[2](index=2&type=chunk) Unaudited Condensed Consolidated Financial Statements [Unaudited Condensed Consolidated Statement of Profit or Loss](index=2&type=section&id=%E6%9C%AA%E7%B6%93%E5%AF%A9%E6%A0%B8%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E6%90%8D%E7%9B%8A%E8%A1%A8) For the six months ended June 30, 2025, the Group reported a 6.2% revenue increase and a 280.4% surge in profit attributable to shareholders, driven by effective cost control and store consolidation strategies Consolidated Statement of Profit or Loss Highlights | Indicator | H1 2025 (HK$ thousands) | H1 2024 (HK$ thousands) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 1,712,240 | 1,612,488 | 6.2% | | Cost of Materials | (455,841) | (424,318) | 7.4% | | Gross Profit | 1,256,399 | 1,188,170 | 5.7% | | Other Income and Gains | 8,637 | 8,864 | -2.6% | | Staff Costs | (616,713) | (601,017) | 2.6% | | Depreciation of Property, Plant and Equipment | (60,128) | (66,743) | -9.9% | | Amortization of Right-of-Use Assets, Lease and Related Expenses, Net | (258,299) | (257,971) | 0.1% | | Other Operating Expenses | (253,422) | (237,568) | 6.7% | | Finance Costs | (20,123) | (17,849) | 12.7% | | Profit Before Tax | 56,351 | 15,886 | 254.7% | | Income Tax Expense | (15,538) | (5,166) | 200.8% | | Profit for the Period | 40,813 | 10,720 | 280.7% | | Profit for the Period Attributable to Owners of the Company | 40,813 | 10,719 | 280.7% | | Basic and Diluted Earnings Per Share (HK cents) | 4.19 | 1.07 | 291.6% | [Unaudited Condensed Consolidated Statement of Comprehensive Income](index=3&type=section&id=%E6%9C%AA%E7%B6%93%E5%AF%A9%E6%A0%B8%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E5%85%A8%E9%9D%A2%E6%94%B6%E7%9B%8A%E8%A1%A8) For the six months ended June 30, 2025, the Group's total comprehensive income (net of tax) significantly increased to HK$43.7 million, primarily due to higher profit for the period and a favorable foreign exchange difference from overseas operations Consolidated Statement of Comprehensive Income Highlights | Indicator | H1 2025 (HK$ thousands) | H1 2024 (HK$ thousands) | | :--- | :--- | :--- | | Profit for the Period | 40,813 | 10,720 | | Exchange Differences on Translation of Overseas Operations | 5,527 | (7,403) | | Total Comprehensive Income for the Period (Net of Tax) | 43,724 | 3,317 | | Total Comprehensive Income Attributable to Owners of the Company | 43,724 | 3,275 | - Exchange differences on translation of overseas operations turned from a loss of **HK$7,403 thousands** in H1 2024 to a gain of **HK$5,527 thousands** in H1 2025[4](index=4&type=chunk) [Unaudited Condensed Consolidated Statement of Financial Position](index=4&type=section&id=%E6%9C%AA%E7%B6%93%E5%AF%A9%E6%A0%B8%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81%E8%A1%A8) As of June 30, 2025, the Group's total non-current assets slightly increased, while net current liabilities decreased due to reductions in both total current assets and liabilities Consolidated Statement of Financial Position Highlights | Indicator | June 30, 2025 (HK$ thousands) | December 31, 2024 (HK$ thousands) | | :--- | :--- | :--- | | Total Non-Current Assets | 1,939,081 | 1,880,093 | | Total Current Assets | 532,064 | 485,801 | | Total Current Liabilities | 756,552 | 759,610 | | Net Current Liabilities | (224,488) | (273,809) | | Total Assets Less Current Liabilities | 1,714,593 | 1,606,284 | | Total Non-Current Liabilities | 749,203 | 778,974 | | Net Assets | 857,081 | 935,619 | | Total Equity | 857,081 | 935,619 | | Issued Share Capital | 9,714 | 10,054 | | Reserves | 847,367 | 925,565 | - Net current liabilities decreased from **HK$273,809 thousands** as of December 31, 2024, to **HK$224,488 thousands** as of June 30, 2025[5](index=5&type=chunk) - The decrease in issued share capital reflects share repurchases and cancellations during the period[6](index=6&type=chunk)[43](index=43&type=chunk) Notes to the Interim Financial Information [Company and Group Information](index=6&type=section&id=%E5%85%AC%E5%8F%B8%E5%8F%8A%E9%9B%86%E5%9C%98%E8%B3%87%E6%96%99) Tai Hing Group Holdings Limited, incorporated in the Cayman Islands in 2017 and listed on the HKEX in 2019, primarily operates restaurants and sells food products - The company was incorporated in the Cayman Islands on December 11, 2017, with its principal place of business in Hong Kong[7](index=7&type=chunk) - The Group is engaged in restaurant operations and food sales businesses[8](index=8&type=chunk) - The company's shares were listed on the Main Board of the Stock Exchange of Hong Kong on June 13, 2019[9](index=9&type=chunk) [Accounting Policies](index=6&type=section&id=%E6%9C%83%E8%A8%88%E6%94%BF%E7%AD%96) The interim financial information is prepared in accordance with HKAS 34 and Listing Rules, with the Board adopting a going concern basis despite net current liabilities, and new HKFRS amendments having no material impact - The interim financial information is prepared in accordance with Appendix D2 to the Listing Rules and Hong Kong Accounting Standard 34[10](index=10&type=chunk) - As of June 30, 2025, the Group had net current liabilities of **HK$273,809 thousands**, but the directors believe there is sufficient operating cash flow to meet liabilities, thus preparing on a going concern basis[11](index=11&type=chunk) - Newly adopted revised HKFRS accounting standards, such as amendments to HKAS 21, had no significant financial impact on the financial statements[12](index=12&type=chunk)[13](index=13&type=chunk) [Operating Segment Information](index=7&type=section&id=%E7%B6%93%E7%87%9F%E5%88%86%E9%83%A8%E8%B3%87%E6%96%99) The Group operates in two geographical segments, Hong Kong & Macau and Mainland China, both engaged in restaurant operations and food sales, with the former showing growth and the latter narrowing losses despite revenue decline - The Group has two reportable operating segments: Hong Kong and Macau, and Mainland China[14](index=14&type=chunk)[16](index=16&type=chunk) Operating Segment Performance | Indicator (HK$ thousands) | Hong Kong & Macau (H1 2025) | Hong Kong & Macau (H1 2024) | Mainland China (H1 2025) | Mainland China (H1 2024) | Total (H1 2025) | Total (H1 2024) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Sales to External Customers | 1,579,294 | 1,430,721 | 132,946 | 181,767 | 1,712,240 | 1,612,488 | | Segment Results | 64,664 | 41,609 | (7,588) | (24,955) | 57,076 | 16,654 | | Segment Assets (End of Period) | 1,792,944 | 1,812,288 | 253,922 | 288,846 | 2,046,866 | 2,101,134 | | Segment Liabilities (End of Period) | 1,361,325 | 1,374,116 | 122,095 | 148,513 | 1,483,420 | 1,522,629 | - Sales to external customers in the Hong Kong and Macau segment increased by **10.4%** year-on-year, with segment results growing by **55.4%** year-on-year[17](index=17&type=chunk) - Sales to external customers in the Mainland China segment decreased by **26.9%** year-on-year, but segment loss narrowed from **HK$24,955 thousands** to **HK$7,588 thousands**[17](index=17&type=chunk) [Revenue, Other Income and Gains](index=9&type=section&id=%E6%94%B6%E7%9B%8A%E3%80%81%E5%85%B6%E4%BB%96%E6%94%B6%E5%85%A5%E5%8F%8A%E6%94%B6%E7%9B%8A) The Group's revenue primarily stems from restaurant operations and food sales, with Hong Kong and Macau as key markets, while other income and gains, including bank interest and government grants, slightly decreased overall Revenue by Goods/Services and Geographical Market | Type of Goods or Services (HK$ thousands) | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Revenue from Restaurant Operations | 1,666,928 | 1,570,345 | | Revenue from Food Sales | 45,312 | 42,143 | | Total | 1,712,240 | 1,612,488 | | Geographical Market (HK$ thousands) | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Hong Kong and Macau | 1,579,294 | 1,430,721 | | Mainland China | 132,946 | 181,767 | | Total | 1,712,240 | 1,612,488 | Other Income and Gains Breakdown | Other Income and Gains Item (HK$ thousands) | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Bank Interest Income | 2,175 | 3,394 | | Rental Income | 802 | 942 | | Royalty Income | 306 | 875 | | Subsidies from Public Utility Companies for Purchase of Property, Plant and Equipment | 1,331 | 1,419 | | Government Grants | 559 | 442 | | Net Gain on Deregistration of Subsidiaries | 2,616 | – | | Net Exchange Difference | – | 714 | | Others | 848 | 1,078 | | Total | 8,637 | 8,864 | - Performance obligations for restaurant operations are satisfied when catering services are provided, while for food sales, they are satisfied upon delivery and customer acceptance of products[22](index=22&type=chunk)[23](index=23&type=chunk) [Finance Costs](index=10&type=section&id=%E8%9E%8D%E8%B3%87%E6%88%90%E6%9C%AC) For the six months ended June 30, 2025, the Group's finance costs, primarily interest on lease liabilities, increased year-on-year Finance Costs Breakdown | Finance Cost Item (HK$ thousands) | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Interest on Lease Liabilities | 20,123 | 17,849 | [Profit Before Tax](index=11&type=section&id=%E9%99%A4%E7%A8%85%E5%89%8D%E6%BA%A2%E5%88%A9) The Group's profit before tax is calculated after deducting various operating expenses, including material costs, depreciation, amortization, staff costs, impairment losses, and utility expenses, with net exchange differences now classified under other operating expenses Profit Before Tax Adjustments | Expense Item (HK$ thousands) | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Cost of Materials | 455,841 | 424,318 | | Depreciation of Property, Plant and Equipment | 60,128 | 66,743 | | Amortization of Right-of-Use Assets | 202,696 | 216,881 | | Total Employee Benefit Expenses | 616,713 | 601,017 | | Net Exchange Difference | 201 | (714) | | Net Impairment Loss on Right-of-Use Assets | 14,851 | 12,890 | | Net Impairment Loss on Property, Plant and Equipment | 7,617 | 5,491 | | Loss on Disposal of Property, Plant and Equipment and Right-of-Use Assets | 1,937 | 1,344 | | Utility Expenses | 73,174 | 68,830 | - For the period ended June 30, 2025, net exchange differences are included in "Other operating expenses" in the statement of profit or loss, whereas in the prior period, they were included in "Other income and gains"[27](index=27&type=chunk) [Income Tax](index=12&type=section&id=%E6%89%80%E5%BE%97%E7%A8%85) The Group is exempt from income tax in the Cayman Islands and BVI, while Hong Kong profits tax is 16.5% (8.25% for qualifying entities), and China and Macau are 25% and 12% respectively, with a significant increase in total tax expense due to deferred tax shifting from income to expense - Hong Kong profits tax rate is **16.5%**, with the first **HK$2,000,000** for qualifying entities taxed at **8.25%**[31](index=31&type=chunk) - Tax rates for China and Macau are **25%** and **12%** respectively[31](index=31&type=chunk) Income Tax Breakdown | Income Tax Item (HK$ thousands) | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Current - Hong Kong | 11,626 | 8,842 | | Current - Other Jurisdictions | 830 | 238 | | Deferred Tax | 3,082 | (3,914) | | Total Income Tax Expense for the Period | 15,538 | 5,166 | [Dividends](index=12&type=section&id=%E8%82%A1%E6%81%AF) This section provides notes related to dividends, serving as a structural component of the financial statements without specific numerical details [Earnings Per Share Attributable to Owners of the Company](index=12&type=section&id=%E6%9C%AC%E5%85%AC%E5%8F%B8%E8%82%A1%E6%9D%B1%E6%87%89%E4%BD%B5%E6%AF%8F%E8%82%A1%E7%9B%88%E5%88%A9) For the six months ended June 30, 2025, basic earnings per share attributable to owners of the company significantly increased to **4.19 HK cents** from **1.07 HK cents** in the prior year, driven by higher profit and a reduced weighted average number of ordinary shares outstanding Earnings Per Share Details | Indicator | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Profit Attributable to Ordinary Equity Holders of the Company (HK$ thousands) | 40,813 | 10,719 | | Weighted Average Number of Ordinary Shares Outstanding for the Period (shares) | 973,233,000 | 1,005,399,000 | | Basic and Diluted Earnings Per Share (HK cents) | 4.19 | 1.07 | - The Group had no potentially dilutive ordinary shares outstanding during the reporting period[35](index=35&type=chunk) [Property, Plant and Equipment and Right-of-use Assets](index=13&type=section&id=%E7%89%A9%E6%A5%AD%E3%80%81%E5%BB%A0%E6%88%BF%E5%8F%8A%E8%A8%AD%E5%82%99%E4%BB%A5%E5%8F%8A%E4%BD%BF%E7%94%A8%E6%AC%8A%E8%B3%87%E7%94%A2) For the six months ended June 30, 2025, the Group's acquisitions of property, plant and equipment and right-of-use assets decreased, while the total net book value of pledged assets for bank financing slightly declined Property, Plant and Equipment and Right-of-Use Assets Acquisitions and Pledges | Indicator | H1 2025 (HK$ million) | H1 2024 (HK$ million) | | :--- | :--- | :--- | | Acquisitions of Property, Plant and Equipment and Right-of-Use Assets | 51.1 | 68.6 | | Indicator | June 30, 2025 (HK$ million) | December 31, 2024 (HK$ million) | | :--- | :--- | :--- | | Total Net Book Value of Pledged Property, Plant and Equipment and Right-of-Use Assets | 201.3 | 205.9 | [Trade Receivables](index=13&type=section&id=%E8%B2%BF%E6%98%93%E6%87%89%E6%94%B6%E6%AC%BE%E9%A0%85) As of June 30, 2025, the Group's total trade receivables slightly increased, with credit terms generally ranging from a few days to two months, and overdue balances regularly reviewed by senior management Trade Receivables and Aging Analysis | Trade Receivables (HK$ thousands) | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total Trade Receivables | 30,303 | 28,203 | | Aging Analysis (HK$ thousands) | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Within 1 Month | 28,632 | 23,655 | | 1 to 2 Months | 176 | 2,985 | | 2 to 3 Months | 732 | 424 | | Over 3 Months | 763 | 1,139 | - The Group's trade terms with customers are primarily cash, credit card, electronic payment, and on credit, with credit periods generally ranging from a few days to two months[39](index=39&type=chunk) [Trade Payables](index=14&type=section&id=%E8%B2%BF%E6%98%93%E6%87%89%E4%BB%98%E6%AC%BE%E9%A0%85) As of June 30, 2025, the Group's total trade payables slightly decreased, with most payables having an aging period within one month Trade Payables and Aging Analysis | Trade Payables (HK$ thousands) | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total Trade Payables | 82,596 | 85,269 | | Aging Analysis (HK$ thousands) | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Within 1 Month | 81,383 | 74,796 | | 1 to 2 Months | 3 | 6,301 | | 2 to 3 Months | 174 | 554 | | Over 3 Months | 1,036 | 3,618 | [Share Capital](index=14&type=section&id=%E8%82%A1%E6%9C%AC) As of June 30, 2025, the Group's issued share capital decreased due to share repurchases and cancellations, with 33,980,000 shares cancelled for a total consideration of HK$29,564,000 during the period Share Capital Structure | Share Capital Item | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Authorized Share Capital (shares) | 10,000,000,000 | 10,000,000,000 | | Issued and Fully Paid Share Capital (shares) | 971,419,000 | 1,005,399,000 | | Issued and Fully Paid Share Capital (HK$ thousands) | 9,714 | 10,054 | - During the review period, the company repurchased and cancelled **33,980,000** ordinary shares for a total consideration of **HK$29,564,000**[43](index=43&type=chunk) [Share Option Schemes](index=15&type=section&id=%E8%B3%BC%E8%82%A1%E6%AC%8A%E8%A8%88%E5%8A%83) The company has pre-IPO and post-IPO share option schemes to reward and incentivize eligible participants, with no outstanding or granted options under either scheme as of June 30, 2025 - The company has a pre-IPO share option scheme to reward and compensate eligible participants who have contributed to the Group's successful operations[44](index=44&type=chunk) - The company has a post-IPO share option scheme to encourage eligible individuals to enhance personal performance and efficiency, and to attract and retain talent[46](index=46&type=chunk) - As of June 30, 2025, there were no unexercised or granted share options under either scheme[44](index=44&type=chunk)[46](index=46&type=chunk) Management Discussion and Analysis [Overall Performance](index=16&type=section&id=%E6%95%B4%E9%AB%94%E8%A1%A8%E7%8F%BE) Despite global economic uncertainties, Hong Kong consumer outflow, and intense competition, Tai Hing Group achieved 6.2% revenue growth to HK$1,712.2 million and 280.8% profit attributable to shareholders to HK$40.8 million in H1 2025, through marketing strategies, product launches, and stringent cost management - Global macroeconomic uncertainties, Hong Kong consumer outflow, and intense competition in the catering markets of Hong Kong and Mainland China increased operational pressure[47](index=47&type=chunk) Overall Performance Highlights | Indicator | H1 2025 (HK$ million) | H1 2024 (HK$ million) | YoY Growth (%) | | :--- | :--- | :--- | :--- | | Total Revenue | 1,712.2 | 1,612.5 | 6.2% | | Gross Profit | 1,256.4 | 1,188.2 | 5.7% | | Gross Profit Margin | 73.4% | 73.7% | -0.3pp | | Profit Attributable to Company Shareholders | 40.8 | 10.7 | 280.8% | | Basic Earnings Per Share (HK cents) | 4.19 | 1.07 | 291.6% | - The Group drove revenue growth through marketing strategies, promotional activities, the Tai Hing App, social media promotion, and the launch of traffic-driving products[48](index=48&type=chunk) - The Group maintained a strong financial position with ample cash, recording **HK$282.3 million** in cash and cash equivalents as of June 30, 2025, and no bank borrowings[49](index=49&type=chunk) [Other Income and Gains](index=16&type=section&id=%E5%85%B6%E4%BB%96%E6%94%B6%E5%85%A5%E5%8F%8A%E6%94%B6%E7%9B%8A) During the review period, the Group's total other income and gains amounted to HK$8.6 million, a slight decrease from the prior year, primarily comprising bank interest income, equipment subsidies, and rental income Other Income and Gains Summary | Other Income and Gains (HK$ million) | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Total | 8.6 | 8.9 | - Key components include bank interest income, subsidies received from public utility companies for equipment purchases, and rental income[50](index=50&type=chunk) [Operating Costs](index=17&type=section&id=%E7%B6%93%E7%87%9F%E6%88%90%E6%9C%AC) The Group implemented various control measures for material, staff, and lease-related costs, resulting in a slight increase in material cost-to-revenue ratio, but decreases in staff and lease-related cost-to-revenue ratios, while other operating expenses rose due to increased revenue and asset impairment from store consolidation Operating Costs Analysis | Operating Cost Item | H1 2025 (HK$ million) | H1 2024 (HK$ million) | Ratio to Revenue (H1 2025) | Ratio to Revenue (H1 2024) | | :--- | :--- | :--- | :--- | :--- | | Cost of Materials | 455.8 | 424.3 | 26.6% | 26.3% | | Staff Costs | 616.7 | 601.0 | 36.0% | 37.3% | | Amortization of Right-of-Use Assets, Lease and Related Expenses | 258.3 | 258.0 | 15.1% | 16.0% | | Other Operating Expenses | 253.4 | 237.6 | 14.8% | 14.7% | | Impairment Loss on Property, Plant and Equipment and Right-of-Use Assets | 22.5 | 18.4 | N/A | N/A | - Material costs are controlled through sourcing, contract agreements, new supplier introduction, synergistic production between Hong Kong and Mainland China factories, and supply chain optimization[51](index=51&type=chunk) - Staff costs are reduced by optimizing human resource deployment, accelerating store automation and digitalization (e.g., Tai Hing App enhancements, automated kitchen equipment), and AI training[52](index=52&type=chunk) - Lease-related expenses are optimized through active negotiations with landlords for rent reductions[53](index=53&type=chunk) - The increase in other operating expenses is primarily due to higher operational expenditures (delivery platform fees, utilities, cleaning fees) driven by increased revenue, and asset write-offs and impairment provisions from store consolidation[54](index=54&type=chunk) [Industry and Geographical Analysis](index=18&type=section&id=%E8%A1%8C%E6%A5%AD%E5%8F%8A%E5%9C%B0%E7%90%86%E5%88%86%E6%9E%90) The Hong Kong SAR government's tourism promotion offers opportunities for the Group to expand its network, while the Mainland China catering industry faces supply-demand imbalance and intense competition, which the Group addresses through resource reallocation, product innovation, and e-commerce partnerships - Hong Kong's tourism development positively impacts the Group, which is expanding into core and tourist areas like Kai Tak Sports Park, Mong Kok, and Tseung Kwan O[55](index=55&type=chunk) - The Mainland China catering industry faces supply-demand imbalance, rising costs, and intense competition, accelerating market consolidation[56](index=56&type=chunk) - The Group reallocates resources in Mainland China, focusing on high-potential cities, innovating products, optimizing offerings, and partnering with delivery platforms to enhance competitiveness[56](index=56&type=chunk) - The Group opened a "Minh Wah Bing Teng" flagship store in Lujiazui, enhancing brand influence through themed menus and marketing activities[56](index=56&type=chunk) [Business Segment Analysis](index=18&type=section&id=%E6%A5%AD%E5%8B%99%E5%88%86%E9%83%A8%E5%88%86%E6%9E%90) Tai Hing Group manages a diverse portfolio of restaurant brands, with 217 outlets as of June 30, 2025, demonstrating continued growth in its flagship brand "Tai Hing" and other brands like "Assam Chicken Rice" and "Trusty Congee and Noodle," while "Minh Wah Bing Teng" maintained stability despite a slight revenue dip, all supported by optimized marketing strategies and the "Tai Hing App" [Restaurant Network Overview](index=18&type=section&id=%E9%A4%90%E5%BB%B3%E7%B6%B2%E7%B5%B2%E6%A6%82%E8%A7%88) Tai Hing Group operates a diverse portfolio of restaurant brands, expanding its network to 217 outlets as of June 30, 2025, with most located in Hong Kong and Macau, and 17 in the Greater Bay Area (excluding Hong Kong and Macau) - The Group owns a diversified portfolio of brands including "Tai Hing", "Trusty Congee and Noodle", "Kam Lai", "Minh Wah Bing Teng", and "Teawood"[57](index=57&type=chunk) Restaurant Network Statistics | Indicator | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total Number of Stores | 217 | 211 | | Number of Stores in Hong Kong and Macau | 188 | N/A | | Number of Stores in Mainland China | 29 | N/A | | Number of Stores in Greater Bay Area (excluding HK & Macau) | 17 | N/A | [Flagship Brand 「Tai Hing」](index=19&type=section&id=%E6%97%97%E8%89%A6%E5%93%81%E7%89%8C%E3%80%8C%E5%A4%AA%E8%88%88%E3%80%8D) "Tai Hing," the Group's flagship brand, saw a 6.5% year-on-year revenue increase to HK$645.0 million, accounting for 37.7% of total revenue, driven by enhanced brand positioning, media collaborations, seasonal promotions, and product innovation Tai Hing Brand Performance | Indicator | H1 2025 (HK$ million) | H1 2024 (HK$ million) | YoY Growth (%) | Ratio to Total Revenue (H1 2025) | Ratio to Total Revenue (H1 2024) | | :--- | :--- | :--- | :--- | :--- | :--- | | Revenue from "Tai Hing" | 645.0 | 605.4 | 6.5% | 37.7% | 37.5% | - "Tai Hing" strengthened its "Roast Meat King" brand positioning through collaborations with popular TV programs and launching takeaway-exclusive offers and coupons to boost brand awareness and sales[59](index=59&type=chunk) - Actively promoted product innovation, introducing new dishes and optimizing existing products to enrich menu options[59](index=59&type=chunk) [「Minh Wah Bing Teng」](index=19&type=section&id=%E3%80%8C%E6%95%8F%E8%8F%AF%E5%86%B0%E5%BB%B3%E3%80%8D) "Minh Wah Bing Teng," the Group's second-largest revenue contributor, recorded HK$438.2 million, a slight 0.2% year-on-year decrease primarily due to strategic store consolidation in Mainland China, while new advertising and classic limited-time set meals enhanced market recognition and sales growth Minh Wah Bing Teng Brand Performance | Indicator | H1 2025 (HK$ million) | H1 2024 (HK$ million) | YoY Change (%) | Ratio to Total Revenue (H1 2025) | Ratio to Total Revenue (H1 2024) | | :--- | :--- | :--- | :--- | :--- | :--- | | Revenue from "Minh Wah Bing Teng" | 438.2 | 438.9 | -0.2% | 25.6% | 27.2% | - The slight revenue decrease was mainly due to strategic store consolidation in Mainland China from H2 2024 to H1 2025, closing some underperforming outlets[60](index=60&type=chunk) - Launched new advertisements "Preserving Old Flavors, Minh Wah Since 1973" and classic limited-time nostalgic set meals to enhance brand recognition and sales[60](index=60&type=chunk) [「Assam Chicken Rice」](index=19&type=section&id=%E3%80%8C%E4%BA%9E%E5%8F%83%E9%9B%9E%E9%A3%AF%E3%80%8D) "Assam Chicken Rice" achieved robust performance with a 9.4% year-on-year revenue growth to HK$129.4 million, representing 7.6% of total revenue, strengthening its Southeast Asian dining positioning through film sponsorship, cross-marketing, and new dinner offerings, while expanding market reach with two new Hong Kong outlets Assam Chicken Rice Brand Performance | Indicator | H1 2025 (HK$ million) | H1 2024 (HK$ million) | YoY Growth (%) | Ratio to Total Revenue (H1 2025) | Ratio to Total Revenue (H1 2024) | | :--- | :--- | :--- | :--- | :--- | :--- | | Revenue from "Assam Chicken Rice" | 129.4 | 118.3 | 9.4% | 7.6% | 7.3% | - Strengthened its Southeast Asian dining market positioning through cross-marketing strategies, such as sponsoring a Malaysian Lunar New Year film and launching the "Assam Laksa Set Meal"[61](index=61&type=chunk) - Expanded market coverage by adding two new stores in Hong Kong, bringing the total to **21** outlets[61](index=61&type=chunk) [「Trusty Congee and Noodle」](index=20&type=section&id=%E3%80%8C%E9%9D%A0%E5%BE%97%E4%BD%8F%E3%80%8D) "Trusty Congee and Noodle" saw a 20.9% year-on-year revenue growth to HK$80.8 million, accounting for 4.7% of total revenue, driven by prudent price adjustments, promotional product bundles, and continuous product R&D, with its Wan Chai branch earning the Michelin Bib Gourmand for fifteen consecutive years Trusty Congee and Noodle Brand Performance | Indicator | H1 2025 (HK$ million) | H1 2024 (HK$ million) | YoY Growth (%) | Ratio to Total Revenue (H1 2025) | Ratio to Total Revenue (H1 2024) | | :--- | :--- | :--- | :--- | :--- | :--- | | Revenue from "Trusty Congee and Noodle" | 80.8 | 66.8 | 20.9% | 4.7% | 4.1% | - The Wan Chai "Trusty Congee and Noodle" branch has been awarded the Michelin Bib Gourmand for **fifteen** consecutive years[62](index=62&type=chunk) [Other Brands and Marketing Strategies](index=20&type=section&id=%E5%85%B6%E4%BB%96%E5%93%81%E7%89%8C%E5%8F%8A%E7%87%9F%E9%8A%B7%E7%AD%96%E7%95%A5) The Group continues to launch high-value brands like "An Jin Dao" and "Ichibashi Ramen," upgraded "Dumpling Town" with its debut at Kai Tak Sports Park, and effectively stimulated consumption and enhanced customer loyalty through diverse product portfolios, takeaway-exclusive offers, social media promotion, and "Tai Hing App" member benefits - Launched high-value brands such as "An Jin Dao" (Korean-style bibimbap) and "Ichibashi Ramen" (affordable ramen)[63](index=63&type=chunk) - "Dumpling Town" debuted with a new image at Kai Tak Sports Park, offering a novel dining experience[63](index=63&type=chunk) - Introduced various takeaway-exclusive promotional products and expanded brand reach through social media and advertising campaigns[64](index=64&type=chunk) - The "Tai Hing App" membership exceeded **270,000**, becoming a key growth platform offering diverse services like advance ordering, takeaway, in-store pickup, delivery, and group catering[65](index=65&type=chunk) - The "Tai Hing App" features exclusive member offers, limited-time events, and collaborative benefits with other companies, effectively stimulating consumption and enhancing customer loyalty[65](index=65&type=chunk) [Sustainability](index=21&type=section&id=%E5%8F%AF%E6%8C%81%E7%BA%8C%E7%99%BC%E5%B1%95) Tai Hing Group integrates sustainability into its operations through the "Tai Hing Care" initiative, actively promoting low-carbon transition and earning the "Green Driven Excellence Award," engaging in community and fundraising activities, and fostering an inclusive workplace, recognized with the "Excellent Employer Award" for seven consecutive years and the "Star Diamond Service Award" - Signed the "Catering Industry Low Carbon Living" charter, committing to reducing carbon emissions and promoting green operational models[66](index=66&type=chunk) - Awarded the "Green Driven Excellence Award" by the "Environment and Conservation Fund Carbon Neutrality Programme for the Catering Industry"[66](index=66&type=chunk) - Collaborated with over **10** social welfare organizations to host community and fundraising events, supporting vulnerable groups in response to the government's "Love Dining Rewards" scheme[67](index=67&type=chunk) - Signed the Equal Opportunities Commission's "Racial Diversity and Inclusion Employer Charter" to promote an inclusive workplace culture[68](index=68&type=chunk) - Awarded the "ERB Annual Award Ceremony 2024/25 – Excellent Employer Award" for the **seventh** consecutive year, and the "Star Diamond Service Award – Best Catering Service"[68](index=68&type=chunk) [Outlook](index=21&type=section&id=%E5%89%8D%E6%99%AF) Facing a complex market, Tai Hing Group will pursue a "steady progress" strategy, enhancing customer experience, upgrading brand image, optimizing product portfolios, expanding its store network, and deepening e-commerce collaborations to boost competitiveness and deliver stable, sustainable shareholder returns - The Group will continue to upgrade brand images, such as renovating flagship "Tai Hing" stores and innovating "Teawood" decor, to attract a broader customer base[70](index=70&type=chunk) - Continuously optimize existing products and develop new ones, such as seasonal limited-time offerings for "Tai Hing" and "Trusty Congee and Noodle," and optimize brand-specific operational strategies (e.g., "Minh Wah Bing Teng" launching limited-time dinner specials)[70](index=70&type=chunk) - Optimize store network layout, consolidating existing business districts and developing new potential areas like Tseung Kwan O, Kai Tak, and Tsuen Wan, with each brand expanding new stores based on its characteristics[71](index=71&type=chunk) - Deepen strategic collaborations with mainstream e-commerce platforms like AlipayHK, The Club, Television Broadcasts Limited, and "Neighbourhood Buy," expanding customer touchpoints through live streaming, special programs, and limited-time offers[72](index=72&type=chunk) Other Information [Interim Dividend](index=23&type=section&id=%E4%B8%AD%E6%9C%9F%E8%82%A1%E6%81%AF) The Board has declared an interim dividend of **3.50 HK cents** per share for the six months ended June 30, 2025, an increase from the prior year Interim Dividend Declaration | Indicator | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Interim Dividend (HK cents per share) | 3.50 | 2.50 | - Dividend warrants are expected to be dispatched to shareholders on or before October 16, 2025[73](index=73&type=chunk) [Closure of Register of Members](index=23&type=section&id=%E6%9A%AB%E5%81%9C%E8%BE%A6%E7%90%86%E8%82%A1%E4%BB%BD%E9%81%8E%E6%88%B6%E7%99%BB%E8%A8%98) To determine eligibility for the interim dividend, the company will suspend share transfer registration from September 25 to September 29, 2025 (inclusive), requiring shareholders to submit all transfer documents by 4:30 p.m. on September 24, 2025 - Share transfer registration will be suspended from September 25 to September 29, 2025[74](index=74&type=chunk) - Shareholders must submit transfer documents by **4:30 p.m. on September 24, 2025**, to qualify for the interim dividend[74](index=74&type=chunk) [Liquidity and Financial Resources, Borrowings, Capital Structure, Foreign Exchange Fluctuation Risk and Others](index=23&type=section&id=%E6%B5%81%E5%8B%95%E8%B3%87%E9%87%91%E8%88%87%E8%B2%A1%E5%8B%99%E8%B3%87%E6%BA%90%E3%80%81%E5%80%9F%E6%AC%BE%E3%80%81%E8%82%A1%E6%9C%AC%E7%B5%90%E6%A7%8B%E3%80%81%E5%8C%AF%E7%8E%87%E6%B3%A2%E5%8B%95%E9%A2%A8%E9%9A%AA%E5%8F%8A%E5%85%B6%E4%BB%96) The Group's primary funding sources are internal cash flow and IPO proceeds, with HK$282.3 million in cash and cash equivalents and no interest-bearing bank borrowings as of June 30, 2025; liquidity ratios decreased, gearing ratio slightly increased, and the Group faces RMB-HKD exchange rate fluctuation risk, along with contingent liabilities and pledged assets [Liquidity and Financial Resources](index=23&type=section&id=%E6%B5%81%E5%8B%95%E8%B3%87%E9%87%91%E8%88%87%E8%B2%A1%E5%8B%99%E8%B3%87%E6%BA%90) The Group's main funding sources are internal cash flow and IPO proceeds, with HK$282.3 million in cash and cash equivalents as of June 30, 2025, primarily used for new restaurant openings, factory enhancements, renovations, share buybacks, and dividends, while both current and adjusted current ratios decreased Liquidity and Financial Resources Overview | Indicator (HK$ million) | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and Cash Equivalents | 282.3 | 330.8 | | Total Current Assets | 485.8 | 532.1 | | Total Current Liabilities | 759.6 | 756.6 | | Current Ratio | 0.6 times | 0.7 times | | Adjusted Net Current Assets | 143.7 | 204.4 | | Adjusted Current Ratio | 1.4 times | 1.6 times | - Funds are primarily used for opening new restaurants, strengthening and expanding food factories, renovating existing restaurants, repurchasing shares, and paying dividends[75](index=75&type=chunk) [Borrowings](index=23&type=section&id=%E5%80%9F%E6%AC%BE) As of June 30, 2025, the Group had no interest-bearing bank borrowings and did not use any financial instruments for hedging during the period - As of June 30, 2025, the Group had no interest-bearing bank borrowings[77](index=77&type=chunk) - No financial instruments were used for hedging during the period[77](index=77&type=chunk) [Gearing Ratio](index=24&type=section&id=%E8%B3%87%E7%94%A2%E8%B2%A0%E5%82%B5%E6%AF%94%E7%8E%87) As of June 30, 2025, the Group's gearing ratio was **58.4%**, a slight increase from **56.0%** as of December 31, 2024 Gearing Ratio | Indicator | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Gearing Ratio | 58.4% | 56.0% | - The gearing ratio is calculated as net debt divided by capital plus net debt, where net debt includes contract liabilities, lease liabilities, trade payables, other payables, and accrued expenses, less cash and cash equivalents[78](index=78&type=chunk) [Foreign Currency Risk](index=24&type=section&id=%E5%A4%96%E5%B9%A3%E9%A2%A8%E9%9A%AA) The Group's revenue and costs are primarily denominated in HKD and RMB, exposing it to exchange rate fluctuations between RMB and HKD; currently, there is no currency hedging policy, but the Group will monitor and take appropriate measures - The Group's revenue and costs are primarily denominated in Hong Kong Dollars and Renminbi, subject to exchange rate fluctuations between RMB and HKD[79](index=79&type=chunk) - The Group does not have any currency hedging policy but will closely monitor foreign currency risk and take appropriate measures[79](index=79&type=chunk) [Contingent Liabilities](index=24&type=section&id=%E6%88%96%E7%84%B6%E8%B2%A0%E5%82%B5) As of June 30, 2025, the Group had contingent liabilities of approximately HK$75.9 million from bank guarantees issued to landlords and public utility companies in lieu of deposits, an increase from December 31, 2024 Contingent Liabilities | Indicator (HK$ million) | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Contingent Liabilities (Bank Guarantees) | 75.9 | 62.1 | [Pledged Assets](index=24&type=section&id=%E9%9B%86%E5%9C%98%E8%B3%87%E7%94%A2%E6%8A%B5%E6%8A%BC) As of June 30, 2025, the Group had pledged property, plant and equipment and right-of-use assets with a total net book value of approximately HK$201.3 million to secure bank facilities, representing a slight decrease in total pledged assets Pledged Assets | Indicator (HK$ million) | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total Net Book Value of Pledged Assets | 201.3 | 205.9 | [Significant Acquisitions and Disposals](index=24&type=section&id=%E9%87%8D%E5%A4%A7%E6%94%B6%E8%B3%BC%E5%8F%8A%E5%87%BA%E5%94%AE%E4%BA%8B%E9%A0%85) For the six months ended June 30, 2025, the Group made no other significant acquisitions or disposals beyond those disclosed in this announcement, nor any other major investment or capital asset acquisition plans - No other significant acquisitions or disposals of subsidiaries, associated corporations, joint ventures, major investments, or contractual commitments occurred during the period[82](index=82&type=chunk) - As of the announcement date, there were no other significant investment or capital asset acquisition plans[82](index=82&type=chunk) [Human Resources](index=24&type=section&id=%E4%BA%BA%E5%8A%9B%E8%B3%87%E6%BA%90) As of June 30, 2025, the Group employed approximately **6,400** staff, an increase from December 31, 2024, with remuneration policies based on employee strengths, qualifications, and abilities, and director/senior management compensation recommended by the Remuneration Committee based on performance and market conditions Employee Statistics | Indicator | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Number of Employees | Approximately 6,400 | Approximately 6,200 | - Remuneration policy is determined by senior management based on employee strengths, qualifications, and abilities[83](index=83&type=chunk) - Directors' and senior management's remuneration is recommended by the Remuneration Committee based on operating results, individual performance, and market conditions[83](index=83&type=chunk) [Share Option Schemes](index=25&type=section&id=%E8%B3%BC%E8%82%A1%E6%AC%8A%E8%A8%88%E5%8A%83) The company maintains pre-IPO and post-IPO share option schemes to incentivize and reward eligible participants, with no outstanding or granted options under either scheme as of June 30, 2025 - The company has pre-IPO and post-IPO share option schemes designed to incentivize and reward eligible participants[84](index=84&type=chunk) - As of June 30, 2025, there were no outstanding or granted share options under either scheme[84](index=84&type=chunk) [Purchases, Sales and Redemptions of Listed Securities](index=25&type=section&id=%E8%B3%BC%E8%B2%B7%E3%80%81%E5%87%BA%E5%94%AE%E5%8F%8A%E8%B4%96%E5%9B%9E%E4%B8%8A%E5%B8%82%E8%AD%89%E5%88%B8) For the six months ended June 30, 2025, the company repurchased and cancelled **27,540,000** shares on the Stock Exchange for approximately HK$25.12 million, with the Board believing these buybacks are in the best interest of the company and shareholders, demonstrating confidence in long-term business prospects Share Repurchase Details | Indicator | H1 2025 | | :--- | :--- | | Number of Shares Repurchased | 27,540,000 shares | | Total Repurchase Consideration (excluding transaction costs) | Approximately HK$25,120,000 | | Highest Price Per Share | HK$0.97 | | Lowest Price Per Share | HK$0.79 | | Cancellation Date | February 28, 2025 | - The Board believes that share repurchases demonstrate the company's confidence in its long-term business prospects and create value for shareholders[85](index=85&type=chunk) [Material Events After Reporting Period](index=25&type=section&id=%E5%A0%B1%E5%91%8A%E6%9C%9F%E5%BE%8C%E9%87%8D%E5%A4%A7%E4%BA%8B%E9%A0%85) The Directors are unaware of any disclosable material events occurring after June 30, 2025, and up to the date of this announcement - As of the announcement date, there were no disclosable material events after the reporting period[86](index=86&type=chunk) [Review by Audit Committee and Interim Results Review](index=25&type=section&id=%E5%AF%A9%E6%A0%B8%E5%A7%94%E5%93%A1%E6%9C%83%E5%AF%A9%E9%96%B1%E5%8F%8A%E4%B8%AD%E6%9C%9F%E6%A5%AD%E7%B8%BE%E5%AF%A9%E9%96%B1) The company's Audit Committee reviewed the Group's accounting principles, risk management, internal control systems, and financial reporting, including the unaudited interim condensed consolidated financial statements, which were also reviewed by external auditor Ernst & Young in accordance with HKSRE 2410 - The Audit Committee reviewed accounting principles, risk management, internal controls, and financial reporting matters[87](index=87&type=chunk) - External auditor Ernst & Young reviewed the interim financial information in accordance with Hong Kong Standard on Review Engagements 2410[87](index=87&type=chunk) [Compliance with Corporate Governance Code](index=26&type=section&id=%E9%81%B5%E5%AE%88%E4%BC%81%E6%A5%AD%E7%AE%A1%E6%B2%BB%E5%AE%88%E5%89%87) For the six months ended June 30, 2025, the company complied with the applicable code provisions of the Corporate Governance Code set out in Appendix C1 to the Listing Rules - The company complied with the applicable code provisions of the Corporate Governance Code set out in Appendix C1 to the Listing Rules[88](index=88&type=chunk) [Compliance with the Standard Code for Securities Transactions by Directors](index=26&type=section&id=%E9%81%B5%E5%AE%88%E8%91%A3%E4%BA%8B%E9%80%B2%E8%A1%8C%E8%AD%89%E5%88%B8%E4%BA%A4%E6%98%93%E7%9A%84%E6%A8%99%E6%BA%96%E5%AE%88%E5%89%87) The company adopted the Standard Code for Securities Transactions by Directors as set out in Appendix C3 to the Listing Rules, and all Directors confirmed compliance during the review period - The company adopted the Standard Code for Securities Transactions by Directors as set out in Appendix C3 to the Listing Rules[89](index=89&type=chunk) - All Directors confirmed compliance with the required standards set out in the Standard Code during the review period[89](index=89&type=chunk) [Publication of Interim Results Announcement and Interim Report](index=26&type=section&id=%E5%88%8A%E7%99%BC%E4%B8%AD%E6%9C%9F%E6%A5%AD%E7%B8%BE%E5%85%AC%E5%91%8A%E5%8F%8A%E4%B8%AD%E6%9C%9F%E5%A0%B1%E5%91%8A) This interim results announcement has been published on the HKEX and company websites, and the interim report containing all required information will be dispatched to shareholders and published on both websites in due course - The interim results announcement has been published on the HKEX website (www.hkexnews.hk) and the company's website (www.taihing.com)[90](index=90&type=chunk) - The interim report will be dispatched to shareholders and published on the HKEX website and the company's website in due course[90](index=90&type=chunk) [Board of Directors](index=26&type=section&id=%E8%91%A3%E4%BA%8B%E6%9C%83%E6%88%90%E5%93%A1) As of the announcement date, the Board of Directors comprises three executive directors (including Chairman Mr. Chan Wing On), one non-executive director, and three independent non-executive directors - The Board of Directors includes Executive Directors Mr. Chan Wing On (Chairman), Mr. Yuen Chi Ming, Ms. Chan Shuk Fong, and Mr. Chan Ka Keung[91](index=91&type=chunk) - The Non-Executive Director is Mr. Ho Ping Ki[91](index=91&type=chunk) - The Independent Non-Executive Directors are Mr. Mak Ping Leung, Mr. Wong Siu Kai, and Dr. Sat Chui Wan[91](index=91&type=chunk)

（股份代號：6811） 董事會會議通知 TAI HING GROUP HOLDINGS LIMITED 太興集團控股有限公司 （於開曼群島註冊成立之有限公司） 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，概不就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。 獨立非執行董事 麥炳良先生（又名麥華章）、黃紹開先生及薩翠雲博士 太興集團控股有限公司（「本公司」）董事會（「董事會」）謹此宣佈，本公司將於二零二 五年八月二十二日（星期五）舉行董事會會議，藉以（當中包括）批准刊發本公司及其附屬 公司截至二零二五年六月三十日止六個月之中期業績公告，以及考慮派發中期股息的建議 （如有）。 執行董事 陳永安先生（主席）、袁志明先生、陳淑芳女士及陳家強先生 非執行董事 何炳基先生 承董事會命 太興集團控股有限公司 公司秘書 周正亨 香港，二零二五年八月十二日 於本公告日期，董事會成員如下： ...

Core Viewpoint - The company, Tai Hing Group, has announced a positive earnings forecast, expecting a significant increase in net profit for the interim period ending June 30, with projected profits between HKD 40 million to 45 million, compared to HKD 10.719 million in the same period of 2024 [1] Group 1: Financial Performance - The expected net profit for the interim period is projected to be between HKD 40 million to 45 million [1] - The profit for the same period in 2024 was approximately HKD 10.719 million [1] Group 2: Operational Developments - The increase in profit is attributed to the continuous optimization of the restaurant network and the introduction of a new brand, resulting in a net increase of 6 stores and the completion of renovations for 7 stores [1] - The company is focused on developing and creating diverse brands to drive revenue growth [1] Group 3: Cost Management - The company maintains a prudent financial policy and rigorous cost control measures, leading to a year-on-year decrease in the proportion of labor costs and rental expenses relative to revenue, contributing to profit growth [1]

Core Viewpoint - Tai Hing Group expects its profit attributable to shareholders for the first half of 2025 to be between HKD 40 million and HKD 45 million, significantly higher than HKD 10.719 million in the same period of 2024 [1] Group Performance - The group is enhancing customer experience and increasing revenue through the opening of new stores, renovating existing ones (adding a new brand, net increase of 6 stores, and renovating 7 stores) [1] - The company is adopting a cautious approach to new store locations, negotiating favorable terms with landlords and suppliers, streamlining operational processes, and optimizing corporate structure to improve production and operational efficiency [1] Cost Management - The proportion of labor costs and rental expenses relative to revenue has decreased, contributing to profit growth [1]

Group 1 - The company, Tai Hing Group (06811.HK), expects to achieve a profit attributable to shareholders of approximately HKD 40 million to HKD 45 million for the six months ending June 30, 2025 [1] - For comparison, the profit attributable to shareholders for the six months ending June 30, 2024, was approximately HKD 10.719 million [1]