Financial Performance - The company's revenue for the year ended December 31, 2024, was RMB 752,206, a decrease of 37.7% compared to RMB 1,208,613 in 2023[4]. - The adjusted net profit for the year was RMB 100,555, down 65.5% from RMB 291,088 in 2023[4]. - Same-store sales for the year 2024 were RMB 527,533.6, representing a decline of 21.3% compared to RMB 670,039.4 in 2023[11]. - In 2024, the company recorded revenue of RMB 752 million, a decrease of 37.8% from RMB 1,209 million in 2023, primarily due to a weak consumer market[14][16]. - Revenue for the year ended December 31, 2024, was RMB 752.2 million, a decrease from RMB 1,208.6 million for the year ended December 31, 2023, reflecting a decline in business performance[67]. - Revenue from self-operated taverns dropped significantly from RMB 1,103,300 thousand in 2023 to RMB 557,513 thousand in 2024, a decrease of about 49.5%[79]. - Revenue from franchise services netted RMB 10,067 thousand in 2024, down from RMB 71,107 thousand in 2023, representing a decline of approximately 85.8%[79]. - The company reported a loss attributable to owners of RMB 77.98 million for the year ended December 31, 2024, compared to a profit of RMB 180.5 million for the year ended December 31, 2023[67]. Assets and Liabilities - Total assets decreased to RMB 1,375,975 in 2024 from RMB 2,164,984 in 2023[5]. - Non-current assets decreased to RMB 459,772 in 2024 from RMB 740,830 in 2023[5]. - The company's total liabilities decreased from RMB 343,577 thousand in 2023 to RMB 257,184 thousand in 2024, a decline of about 25.2%[69]. - Cash and cash equivalents fell sharply from RMB 625,612 thousand in 2023 to RMB 131,802 thousand in 2024, a decrease of approximately 78.9%[68]. - Lease liabilities decreased from RMB 255.7 million as of December 31, 2023, to RMB 145.4 million as of December 31, 2024, due to a reduction in the number of taverns[54]. - Trade payables decreased from RMB 30.7 million as of December 31, 2023, to RMB 28.7 million as of December 31, 2024, attributed to a decline in revenue and procurement[55]. Operational Metrics - The total number of taverns in the global network increased to 579 as of March 19, 2025, up from 560 in 2024 and 479 in 2023[7]. - The average daily sales per tavern in first-tier cities increased to RMB 8.3 in 2024 from RMB 7.5 in 2023[9]. - The number of stores expanded from 479 at the end of 2023 to 560 by the end of 2024, maintaining industry leadership[14][15]. - The gross profit margin for Helen's proprietary beverages improved to 76.6% in 2024 from 75.7% in 2023[13]. - The gross profit margin at the store level remained stable at 69% in 2024, with the gross profit margin for proprietary beverages increasing from 75.7% in 2023 to 76.6% in 2024[14]. Expenses and Cost Management - The cost of materials and consumables decreased by 12.1% to RMB 316.3 million in 2024, down from RMB 359.8 million in 2023, due to lower sales revenue from direct-operated stores[21]. - Employee benefits and human services expenses dropped by 41.9% to RMB 173.7 million in 2024, down from RMB 298.8 million in 2023, due to a reduction in employee numbers[22]. - Depreciation of right-of-use assets decreased by 44.8% to RMB 60.8 million in 2024, down from RMB 110.2 million in 2023, as a result of terminating several lease contracts[23]. - Advertising and promotion expenses decreased by 36.5% to RMB 12.5 million in 2024, down from RMB 19.7 million in 2023, due to refined online promotion management[29]. - Other expenses totaled RMB 70,396,000 in 2024, down from RMB 79,257,000 in 2023, reflecting a decrease of 11.8%[85]. Impairment and Losses - Impairment loss of property, plant, and equipment increased from RMB 11.3 million for the year ended December 31, 2023, to RMB 85.8 million for the year ended December 31, 2024, primarily due to the decline in fair value of office properties amid a sluggish domestic real estate market[32]. - Investment property impairment loss for the year ended December 31, 2024, was RMB 9.5 million, compared to no loss for the year ended December 31, 2023, mainly due to the decline in fair value caused by the domestic real estate market downturn[33]. - Trade receivables impairment loss net amount increased to RMB 16.7 million for the year ended December 31, 2024, from RMB 0.2 million for the year ended December 31, 2023, primarily due to the optimization and adjustment of the tavern network[34]. - The company recognized impairment losses of approximately RMB 11,938,000 and RMB 23,833,000 for property, plant, and equipment, and right-of-use assets respectively, for the year ended December 31, 2024[104]. Future Outlook and Strategy - The company plans to continue expanding its tavern network through the "Hi Beer Partner" program and strengthen supply chain management capabilities[15]. - The company plans to continue seeking new business development opportunities despite not having any major investments or acquisitions during the reporting period[65]. - The company’s revenue projections and cost assumptions were re-evaluated based on past performance and the uncertain recovery of consumer spending in China[103]. - The company’s management identified impairment indicators for several restaurants due to ongoing economic challenges in China, leading to impairment assessments[102]. Corporate Governance and Compliance - The audit committee, consisting of three independent non-executive directors, reviewed the audited consolidated financial statements for the year ended December 31, 2024, confirming compliance with applicable accounting standards[126]. - The company has adopted corporate governance practices in accordance with the relevant listing rules, although it has not separated the roles of the chairman and CEO[118][119]. - There were no significant post-reporting period events identified from December 31, 2024, to the announcement date[128]. - The company has not engaged in any significant litigation or arbitration during the reporting period[125].

我们整个层面会拉宽比如说像早上的比如说像咖啡啊对吧然后像中午的一些汉堡啊披萨意面的对吧就是我们整个层面会拉宽当然我们在饮品上也会增加比如说像软饮的对吧比如说像无酒精饮料因为后面我们可能也会做一些其他的尝试比如说校园店对吧 所以说我们从产品结构从产品规划上我们可能会整个会拉宽就不仅仅局限于酒然后像餐食对吧小吃然后软饮我们都会丰富后续这么一个规划 明白 那方便再请问一下领导就是目前我们已经上来的这些群 比如在咱们的社区电影那个 刚才在您那里有提到其实整个共产党的一个比较稳定的不好意思 您那边声音非常嘈杂 听不见 不好意思嘉宾您那边 您发言的时候把手机点一下声音这样子 您继续问吧 现在可以吗好的好的就是想请教一下因为刚刚领导也有提到咱们上新一些品其实带来了比较稳定的营业额所以在现有的这些推出的新的比如说咖啡就是白天的这些饮品里面大概的一个新品的占比会是什么样 我这么给您讲吧就是您您我问题我总结一下就是您刚其实重点在就是我们推出新品哪个品类是比较受欢迎对吧重点在这儿对吧喂嗯对的对的 是这样你这个问题我给你拆开来看其实白天和晚上我们都有推出针对社区店这样的新品白天这一块可能就是比如说我们有外卖这一块的加持比如说我们的汉 ...

Summary of the Conference Call Company Overview - The conference call involved Helens, a company operating in the bar and restaurant industry, focusing on both direct-operated and franchise models. The current operational status includes approximately 200 direct-operated stores and over 380 franchise stores, totaling around 600 locations [1][6][7]. Key Points and Arguments Direct-Operated Stores - Helens has optimized its direct-operated stores, currently maintaining around 200 locations. The strategy focuses on enhancing the performance of these stores and providing better benefits and incentives for staff [1][6]. - The company aims to transform these stores into advanced models that can adapt to market changes and improve operational efficiency [1][2]. Franchise Model - The franchise model includes over 380 stores, with new policies introduced to attract franchise partners, such as reduced franchise fees for different store types [2][6]. - The company plans to expand its franchise network, particularly in underdeveloped markets, by offering attractive partnership incentives [2][3]. Community Stores - Helens is testing a new community store model, with eight pilot locations in cities like Wuhan, Tianjin, and Shenzhen. These stores aim to serve a diverse customer base throughout the day, offering coffee, meals, and evening drinks [3][4][18]. - The investment for these community stores is estimated to be between 300,000 to 400,000 RMB, with a focus on creating a flexible space that caters to various customer needs [3][18]. International Expansion - Helens has begun expanding internationally, with successful openings in Singapore and Japan. The Singapore locations have shown promising performance, while the company is still refining its approach in other markets [4][5][6]. - The strategy for international markets involves adapting to local conditions and collaborating with local partners to navigate regulatory challenges [5][6][34]. Market Dynamics - The competitive landscape in China is intense, with price wars affecting profitability. In contrast, the international markets, particularly in Southeast Asia, present a more stable environment for growth [5][6]. - The company is observing a trend where lower-tier cities are showing better growth potential compared to first-tier cities, where operational costs are significantly higher [10][11][12]. Financial Performance - The average customer spending remains stable, with no significant downward trend observed. The company continues to focus on maintaining a balance between quality and affordability [28][29]. - The introduction of new menu items, particularly snacks, is seen as a way to enhance customer spending and attract a broader audience [30]. Supply Chain and Operational Challenges - Helens is working on optimizing its supply chain to reduce costs and improve efficiency, particularly for the community store model, which requires a different approach compared to traditional bar operations [37][38]. - The company acknowledges the need for flexible management practices to adapt to varying customer demands across different store formats [38]. Additional Important Insights - The community store model is designed to be a "third space" for consumers, providing a casual environment for socializing and dining, which differs from the more purpose-driven visits to traditional bars [20][25]. - The company is exploring opportunities in the campus market, recognizing the potential for growth in student-oriented offerings [15][16]. - Helens is also considering the development of proprietary brands to differentiate its offerings in the competitive beverage market [27]. This summary encapsulates the key discussions and strategic directions outlined during the conference call, highlighting Helens' operational strategies, market positioning, and future growth plans.

Revenue Performance - The total revenue for the first half of 2024 was RMB 441,294 thousand, compared to RMB 709,992 thousand for the same period in 2023, indicating a decrease of 37.9%[3] - The revenue from franchise operations was RMB 130,360 thousand, representing 29.5% of total revenue in 2024, compared to 5.5% in 2023[3] - The total revenue from direct-operated businesses was RMB 310,934 thousand, accounting for 70.5% of total revenue in 2024[3] Proprietary Beverages Performance - For the six months ended June 30, 2024, the contribution gross profit from all of Helen's proprietary beverages was RMB 124,458 thousand, down from RMB 317,795 thousand in the same period of 2023, representing a decrease of 60.9%[2] - The contribution gross profit margin for Helen's proprietary beverages was 78.3%, a slight decline from 79.4% in the previous year[2] - The revenue from Helen's proprietary products accounted for 50.4% of total revenue in 2024, down from 76.3% in 2023[3] Beverage Alcohol Products - The share of beverage alcohol products in Helen's proprietary products increased from 55.6% in the first half of 2023 to 58.1% in the first half of 2024[4] - The company launched new proprietary beverages such as "Lemon Big Cup" and "Rose Big Cup," which were well-received by consumers, contributing to the increase in beverage alcohol product share[4] Third-Party Brand Beverages - The revenue from third-party brand beverages was RMB 42,773 thousand, down from RMB 66,801 thousand in the previous year, with a gross profit margin of 53.7% compared to 55.6%[2] Direct-Operated Taverns - The overall gross profit margin for direct-operated taverns remained stable at 70% despite a slight decline in contribution gross profit rates due to promotional activities[1]

Financial Performance - The company reported a revenue of HKD 500 million for the first half of 2024, representing a 15% increase compared to the same period last year[16]. - The company expects a revenue guidance of HKD 1.2 billion for the full year 2024, indicating a projected growth of 10%[16]. - Revenue for the six months ended June 30, 2024, was RMB 441.3 million, a decrease of 37.9% compared to RMB 710.0 million for the same period in 2023[26]. - Adjusted net profit for the same period was RMB 90.3 million, down 51.9% from RMB 187.7 million in 2023[27]. - The company reported a net profit attributable to owners of RMB 69.7 million for the six months ended June 30, 2024, down 55.8% from RMB 157.5 million in the same period last year[120]. - The company reported a total comprehensive income of RMB 74.9 million for the six months ended June 30, 2024, compared to RMB 175.6 million for the same period in 2023[120]. - The net cash flow from operating activities for the six months ended June 30, 2024, is RMB 39,271,000, a significant decrease of 81.8% compared to RMB 215,846,000 for the same period in 2023[123]. User Growth and Market Expansion - User data showed a growth of 20% in active users, reaching 1.2 million by June 30, 2024[16]. - Market expansion plans include entering two new regions by the end of 2024, targeting a 25% increase in market share[16]. - Total number of taverns increased from 479 at the beginning of 2024 to 581 by August 26, 2024, with 415 signed under the "Hi Beer Partner" program[31]. - The number of "Hi Beer Partner" taverns opened reached 327, covering 204 cities, including 107 in existing markets and 97 in new markets[31]. Cost Management and Efficiency - The company has reduced operational costs by 5% through efficiency improvements in the supply chain[16]. - The cost of raw materials and consumables decreased by 19.0% from RMB 196.6 million in the first half of 2023 to RMB 159.3 million in the first half of 2024[50]. - Employee benefits and human resources expenses decreased by 43.1% from RMB 169.5 million in the first half of 2023 to RMB 96.5 million in the first half of 2024[51]. - Depreciation of right-of-use assets decreased by 48.0% from RMB 61.0 million in the first half of 2023 to RMB 31.7 million in the first half of 2024[52]. - Depreciation of property, plant, and equipment decreased by 45.1% from RMB 58.6 million in the first half of 2023 to RMB 32.2 million in the first half of 2024[53]. - Short-term rental and related expenses decreased by 53.3% from RMB 39.6 million in the first half of 2023 to RMB 18.5 million in the first half of 2024[54]. Strategic Initiatives - New product launches are anticipated to contribute an additional HKD 100 million in revenue by Q4 2024[16]. - A new marketing strategy focusing on digital channels is projected to increase customer engagement by 30%[16]. - The company is investing HKD 50 million in R&D for new technologies aimed at enhancing user experience[16]. - The company is focusing on a platform-based development strategy, enhancing supply chain management and space design capabilities to improve competitiveness[45]. - The "Community Space" business model was introduced in July 2024 to connect local communities with diverse revenue streams, including in-store sales and new retail opportunities[45]. Shareholder and Governance Matters - The board has approved a share buyback program worth HKD 100 million to enhance shareholder value[16]. - The company has proposed an interim dividend of RMB 0.1573 per share for the six months ended June 30, 2024, with the total amount to be determined based on the number of qualifying shareholders[113]. - The company’s governance structure is under continuous review to assess the necessity of separating the roles of Chairman and CEO[107]. - The company has adopted corporate governance practices in accordance with the principles and code provisions set out in the corporate governance code, ensuring compliance during the reporting period[106]. Financial Position and Assets - Total assets as of June 30, 2024, were RMB 1,804.0 million, down from RMB 2,165.0 million at the end of 2023[28]. - Total equity decreased to RMB 1,498.9 million as of June 30, 2024, from RMB 1,821.4 million at the end of 2023[28]. - Non-current assets decreased to RMB 643.9 million as of June 30, 2024, from RMB 740.8 million at the end of 2023[28]. - Cash and bank balances decreased from RMB 1,278.9 million to RMB 934.2 million, mainly due to the payment of dividends at the end of 2023[73]. - The company has no bank borrowings as of June 30, 2024, making the capital debt ratio not applicable[79]. Employee and Compensation Policies - As of June 30, 2024, the company has 745 employees and 1,733 outsourced personnel, with total employee benefits and human resource expenses amounting to RMB 96.5 million for the six-month period[84]. - The company provides competitive salaries and performance bonuses to employees, with a focus on career development and training systems[84]. - The company has established a comprehensive career development path and talent training system to promote employee self-growth[84]. Other Financial Metrics - The company reported a basic and diluted earnings per share of RMB 0.055 for the six months ended June 30, 2024, compared to RMB 0.124 for the same period in 2023[120]. - The company’s total liabilities decreased to RMB 305.1 million as of June 30, 2024, from RMB 343.6 million as of December 31, 2023[121]. - The company’s investment activities resulted in a net cash outflow of RMB 88,580,000 for the six months ended June 30, 2024, compared to a net cash outflow of RMB 417,536,000 for the same period in 2023[123].

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 441,294 thousand, a decrease of 37.9% compared to RMB 709,992 thousand for the same period in 2023[2] - Profit attributable to owners for the same period was RMB 69,677 thousand, down 55.8% from RMB 157,487 thousand in 2023[2] - Adjusted net profit for the six months ended June 30, 2024, was RMB 90,278 thousand, a decline of 51.9% from RMB 187,660 thousand in 2023[2] - Same-store sales for the six months ended June 30, 2024, were RMB 277,358.6 thousand, a decrease of 28.6% from RMB 388,207.4 thousand in 2023[8] - Total comprehensive income for the six months ended June 30, 2024, was RMB 74,926 thousand, a decline of 57.4% compared to RMB 175,561 thousand for the same period in 2023[51] - The company reported a net loss of RMB 10,498,000 from the sale of property and equipment for the six months ended June 30, 2024, compared to a loss of RMB 134,887,000 in the same period of 2023, showing an improvement[63] Tavern Operations - The total number of taverns increased from 479 at the beginning of 2024 to 581 by August 26, 2024[3] - The "Hi Beer Partner" program has signed 415 stores, with 327 already in operation, covering 204 cities[3] - Average daily revenue per tavern in first-tier cities was RMB 8.7 thousand, up from RMB 8.4 thousand in 2023[5] - The average daily revenue per "Hi Beer Partner" tavern was RMB 27 thousand as of June 30, 2024, with no data available for the previous year[7] - The number of taverns in second-tier cities decreased from 314 in 2023 to 179 as of June 30, 2024[4] Revenue Sources - Revenue from the franchise business surged by 234.4% to RMB 130.4 million, accounting for 29.5% of total revenue in the first half of 2024, up from 5.5% in the same period of 2023[12] - Revenue from tavern operations and franchising for the six months ended June 30, 2024, was RMB 310,934,000 and RMB 130,360,000 respectively, compared to RMB 670,573,000 and RMB 39,419,000 in 2023[59] - Revenue from mainland China was RMB 433,762,000 for the six months ended June 30, 2024, down from RMB 707,580,000 in 2023, indicating a decrease of about 38.6%[60] Cost Management - The cost of raw materials and consumables decreased by 19.0% to RMB 159.3 million in the first half of 2024, down from RMB 196.6 million in the same period of 2023[15] - Employee benefits and human resource expenses fell by 43.1% to RMB 96.5 million, primarily due to a reduction in employee numbers[16] - Depreciation of right-of-use assets decreased by 48.0% to RMB 31.7 million, attributed to the termination of several lease agreements for direct-operated taverns[17] - Short-term rental and related expenses decreased by 53.3% from RMB 39.6 million for the six months ended June 30, 2023, to RMB 18.5 million for the six months ending June 30, 2024[19] - Energy costs decreased by 16.4% from RMB 11.6 million for the six months ended June 30, 2023, to RMB 9.7 million for the six months ending June 30, 2024[20] Financial Position - Cash and bank balances decreased from RMB 1,278.9 million as of December 31, 2023, to RMB 934.2 million as of June 30, 2024, mainly due to the payment of dividends[38] - Total liabilities decreased to RMB 305,105 thousand as of June 30, 2024, from RMB 343,577 thousand as of December 31, 2023, a reduction of 11.2%[53] - The company’s cash and cash equivalents dropped significantly to RMB 148,724 thousand as of June 30, 2024, from RMB 625,612 thousand as of December 31, 2023[52] - The total net proceeds amount to HKD 2,980.1 million, with a remaining balance of HKD 904.6 million as of December 31, 2023[95] Dividend and Shareholder Information - The company declared an interim dividend of approximately RMB 397,474,000 for the six months ended June 30, 2024, with a proposed dividend of RMB 0.1573 per share[68] - The interim dividend proposed is RMB 0.1573 per share, with a total payout dependent on the number of qualifying shareholders as of September 16, 2024[97] - The interim dividend for Hong Kong shareholders will be paid in HKD, calculated at HKD 0.17206 per share based on the exchange rate on August 29, 2024[98] - The interim dividend for Singapore shareholders will be paid in SGD, calculated at SGD 0.028751 per share based on the exchange rate on August 29, 2024[99] Corporate Governance and Compliance - The audit committee has reviewed the interim financial results for the six months ending June 30, 2024, confirming compliance with accounting standards and regulations[96] - The company has complied with all applicable corporate governance codes during the reporting period, except for the separation of roles between the chairman and the CEO[89] Future Plans and Investments - The company plans to allocate 70.0% of the net proceeds, amounting to HKD 2,086.1 million, for opening new bars and expanding its operations over the next three years[95] - 10.0% of the net proceeds, totaling HKD 298.0 million, will be used to strengthen the talent pipeline and optimize human resource management[95] - The company will invest 5.0% of the net proceeds, equivalent to HKD 149.0 million, to enhance its operational capabilities and continue investing in technology research and development[95] - A further 10.0% of the net proceeds, amounting to HKD 298.0 million, is designated for working capital and general corporate purposes[95]

Financial Performance - Helens International Holdings Company Limited reported a revenue of HKD 1.2 billion for the fiscal year 2023, representing a year-on-year increase of 15%[1]. - The company achieved a net profit of HKD 250 million, which is a 20% increase compared to the previous year[1]. - The gross margin improved to 45%, up from 42% in the previous year, reflecting better cost management[1]. - The adjusted net profit for 2023 was RMB 280.2 million, with an adjusted net profit margin of 23.2%, compared to an adjusted net loss of RMB 240.8 million in 2022[22]. - The profit before tax improved from a loss of RMB 1,616.5 million in 2022 to a profit of RMB 152.0 million in 2023, with corresponding profit margin of 12.6%[68]. - Adjusted net profit rose to RMB 280.2 million in 2023 from a loss of RMB 240.8 million in 2022, reflecting operational improvements[72]. User Growth and Market Expansion - User data indicated a growth in active users to 1.5 million, up 25% from the previous year[1]. - Helens International is focusing on expanding its market presence in Southeast Asia, targeting a 30% increase in market share by 2025[1]. - The company plans to continue expanding its tavern network while restructuring its development model from a linear chain to a platform-based company[134]. - The "Hi Beer Partner" program has signed a total of 383 locations, with 188 already in operation, covering 136 cities[23]. Strategic Initiatives - The company is investing HKD 100 million in new product development, particularly in the beverage sector, to enhance its product offerings[1]. - Helens International plans to explore potential acquisitions to strengthen its supply chain and distribution network in the next fiscal year[1]. - The company has initiated a new marketing strategy aimed at increasing brand awareness, with a budget allocation of HKD 50 million for digital marketing campaigns[1]. - The company initiated the "Hi Beer Partner" program in 2023, aiming to enhance market share and enter lower-tier markets through a new partnership model[50]. Operational Adjustments - The number of tavern locations decreased from 767 as of December 31, 2022, to 479 by December 31, 2023, due to strategic adjustments[23]. - The company is committed to a strategic transformation towards a light-asset model and actively adjusting its direct store network[23]. - Revenue decreased by 22.5% from RMB 1,559.3 million in 2022 to RMB 1,208.6 million in 2023, primarily due to the strategic shift to a light-asset model and adjustments in the direct store network[43]. - The company reported a significant reduction in impairment losses from RMB 712.9 million in 2022 to RMB 11.3 million in 2023, as store conditions improved post-COVID-19[63]. Financial Management - Total assets as of December 31, 2023, were RMB 2,164.98 million, down from RMB 2,676.77 million in 2022[17]. - The company's total liabilities decreased significantly to RMB 343.6 million in 2023 from RMB 853.9 million in 2022[17]. - Cash and cash equivalents slightly decreased from RMB 1,298.6 million in 2022 to RMB 1,277.2 million in 2023, mainly due to dividend payments[81]. - The company has not made any bank borrowings as of December 31, 2023, and has no significant debts or loans[192]. Sustainability and Compliance - Helens International is committed to sustainability, with plans to reduce carbon emissions by 20% over the next three years[1]. - The company emphasizes the importance of environmental protection and has not encountered any significant violations of relevant laws and regulations[142]. - The company has established compliance policies to adhere to applicable laws and regulations, with no significant non-compliance issues reported during the period[197]. Shareholder Information - The company declared a dividend of approximately RMB 146.9 million to its shareholders during the reporting period, with a proposed final dividend of RMB 0.3153 per share for the year ending December 31, 2023[136]. - The board of directors will seek shareholder approval for the proposed dividend at the annual general meeting scheduled for May 14, 2024[139]. - The final dividend will be paid to shareholders listed on the register as of May 20, 2024, with payment expected around May 24, 2024[139]. Risks and Challenges - The company faces risks related to economic slowdowns in China and globally, which could adversely affect its financial performance[100]. - Recent stricter regulations imposed by the Chinese government on the tavern industry may lead to increased compliance costs and affect profitability[104]. - The company's ability to expand its business is contingent on various factors, including overall economic conditions and access to credit, which may be impacted by stricter lending policies[105].

Financial Performance - Revenue for the year ended December 31, 2023, was RMB 1,208,613,000, a decrease of 22.5% compared to RMB 1,559,308,000 in 2022[2] - Profit attributable to owners of the company for the year was RMB 180,500,000, recovering from a loss of RMB 1,601,150,000 in the previous year[2] - Adjusted net profit for the year was RMB 280,191,000, compared to an adjusted loss of RMB 240,784,000 in 2022[2] - The company achieved a profit before tax of RMB 152.0 million for the year ended December 31, 2023, compared to a loss of RMB 1,616.5 million for the year ended December 31, 2022[32] - The adjusted net profit for 2023 was RMB 280.2 million, with an adjusted net profit margin of 23.2%, compared to a net loss of RMB 240.8 million in 2022[12] - The company reported a net profit attributable to shareholders of RMB 180,500,000 for the year ended December 31, 2023, compared to a loss of RMB 1,601,150,000 in 2022[75] - The basic earnings per share for the year ended December 31, 2023, was RMB 0.142, a significant recovery from a loss of RMB 1.459 per share in 2022[75] Assets and Liabilities - Total assets as of December 31, 2023, were RMB 2,164,984,000, down from RMB 2,676,768,000 in 2022, reflecting a decrease of 19.1%[6] - Non-current assets decreased to RMB 740,830,000 from RMB 1,286,524,000, a decline of 42.5%[6] - Total liabilities decreased to RMB 343,577,000 from RMB 853,900,000, indicating improved financial stability[6] - The company's cash and cash equivalents decreased from RMB 1,298.6 million as of December 31, 2022, to RMB 1,277.2 million as of December 31, 2023[43] - Lease liabilities decreased from RMB 741.0 million as of December 31, 2022, to RMB 255.7 million as of December 31, 2023, due to the strategic optimization and adjustment of restaurant operations[44] - Trade payables decreased from RMB 62.7 million as of December 31, 2022, to RMB 30.7 million as of December 31, 2023, reflecting a reduction in procurement due to fewer restaurants[45] Operational Changes - The number of taverns decreased to 503 as of March 19, 2024, from 767 at the end of 2022, indicating a strategic shift towards a partner store network[7] - The company reported a strategic transformation towards a platform-based model, resulting in various asset impairments totaling approximately RMB 215,052,000[4] - The company launched the "Hi Beer Partner" program in 2023, introducing a new collaboration model and single-store model to enhance market share and enter lower-tier markets[17] - The "Hi Beer Partner" program has signed 383 stores, with 188 already in operation, covering 136 cities[12] - The average daily sales per tavern in first-tier cities was RMB 7,500, while second-tier cities saw an increase to RMB 7,100 from RMB 6,600 in 2022[8] Cost Management - The cost of raw materials and consumables for the year ended December 31, 2023, was RMB 359.8 million, a decrease of 36.0% from RMB 561.9 million for the year ended December 31, 2022[19] - Employee benefits and human resources expenses decreased by 70.2% from RMB 1,003.5 million for the year ended December 31, 2022, to RMB 298.8 million for the year ended December 31, 2023[20] - Depreciation of right-of-use assets decreased by 65.1% from RMB 315.9 million for the year ended December 31, 2022, to RMB 110.2 million for the year ended December 31, 2023[21] - Logistics and warehousing expenses for the year ended December 31, 2023, were RMB 35,905, a decrease of 18% from RMB 43,829 in 2022[68] Revenue Sources - The revenue from the company's own products was RMB 858.7 million in 2023, accounting for 71.1% of total revenue, down from 76.5% in 2022[15] - The total revenue from franchise services was RMB 71.1 million in 2023, contributing 5.9% to total revenue[15] - Revenue from self-operated taverns for the year ended December 31, 2023, was RMB 1,103,300, a decrease of 29% from RMB 1,547,988 in 2022[62] - The net income from franchise services for the year ended December 31, 2023, was RMB 71,107, significantly up from RMB 11,320 in 2022[62] Strategic Initiatives - The company aims to enhance the tavern environment through new materials and technologies, and to continuously iterate its product offerings through supply chain integration and product development[13] - The company has a plan to enhance its brand awareness with 5% of the net proceeds allocated for this purpose, totaling HKD 149 million[92] - The company plans to distribute a final dividend of RMB 0.3153 per share for the year ending December 31, 2023, which is a new initiative compared to no dividend in 2022[97] Governance and Leadership - The company is led by Mr. Xu Bingzhong, who serves as both the Chairman and CEO, highlighting leadership continuity[100] - The board composition includes a mix of executive and independent non-executive directors, suggesting a balanced governance structure[100] - The audit committee reviewed the audited consolidated financial statements for the year ending December 31, 2023, confirming compliance with applicable accounting standards[93] Market Conditions - The company continues to face adverse conditions in the Chinese market, including restaurant closures and decreased consumer spending, impacting overall performance[81] - The company faced foreign exchange risks primarily due to funds raised in Hong Kong dollars and certain bank deposits in US dollars[50]

Ifelen's Helens International Holdings Company Limited 海 倫 司 國 際 控 股 有 限 公 司 (於開曼群島註冊成立的有限公司) O 股份代號 : 9869 中期報告 2023 目錄 釋義2 中期簡明綜合財務報表附註 34 公司資料6 財務摘要8 業務摘要9 管理層討論與分析 12 企業管治及其他資料 21 中期簡明綜合全面收益表 30 中期簡明綜合財務狀況表 31 中期簡明綜合權益變動表 32 中期簡明綜合現金流量表 33 釋義 | --- | --- | --- | |-----------------------------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | 「組織章程細則」或 「細則」 | 指 | 本公司於 2021 年 ...

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 709,992 thousand, a decrease of 19% compared to RMB 873,612 thousand for the same period in 2022[2]. - Profit before tax for the same period was RMB 132,549 thousand, compared to a loss of RMB 324,649 thousand in the previous year[2]. - Net profit attributable to owners for the six months ended June 30, 2023, was RMB 157,487 thousand, recovering from a loss of RMB 304,144 thousand in 2022[2]. - Adjusted net profit for the period was RMB 177,203 thousand, compared to a loss of RMB 99,936 thousand in the previous year[2]. - Total revenue decreased by 18.7% to RMB 710.0 million in the first half of 2023, down from RMB 873.6 million in the same period of 2022[14]. - Adjusted net profit for the first half of 2023 was RMB 177.2 million, with an adjusted net profit margin of 25.0%, compared to a net loss of RMB 99.9 million in the first half of 2022[14]. - The profit before tax improved from a loss of RMB 324.6 million for the six months ended June 30, 2022, to a profit of RMB 132.5 million for the six months ended June 30, 2023, with corresponding profit margins of (37.2)% and 18.7% respectively[32]. - The company reported a comprehensive income of RMB 175,561 thousand for the period, compared to a comprehensive loss of RMB 241,312 thousand in the same period last year[54]. Assets and Liabilities - Total assets as of June 30, 2023, were RMB 2,488,644 thousand, down from RMB 2,676,768 thousand as of December 31, 2022[4]. - Non-current assets as of June 30, 2023, were RMB 939,207 thousand, significantly down from RMB 1,286,524 thousand as of December 31, 2022[4]. - Total liabilities decreased to RMB 490,215 thousand from RMB 853,900 thousand, reflecting a significant reduction in lease liabilities[56]. - The total property, plant, and equipment decreased from RMB 693.3 million as of December 31, 2022, to RMB 515.6 million as of June 30, 2023, mainly due to the closure of several taverns[37]. - The right-of-use assets decreased from RMB 457.0 million as of December 31, 2022, to RMB 268.1 million as of June 30, 2023, due to strategic optimization and adjustments in taverns[39]. - Lease liabilities decreased from RMB 741.0 million as of December 31, 2022, to RMB 398.1 million as of June 30, 2023, due to strategic optimization and closure of several taverns[43]. Tavern Operations - The number of taverns decreased to 562 as of August 25, 2023, from 846 a year earlier, with a notable reduction in first and second-tier cities[5]. - Average daily revenue per tavern increased to RMB 8.2 thousand for the six months ended June 30, 2023, up 13.9% from RMB 7.2 thousand in the same period of 2022[9]. - New taverns opened in the first half of 2023 achieved an average daily revenue of RMB 8.2 thousand, a 30.2% increase from RMB 6.3 thousand for new taverns opened in 2022[9]. - Same-store sales for Helen's Tavern increased by 9.1% year-on-year, reaching RMB 379,379.56 thousand in the first half of 2023[12]. - The number of taverns decreased from 846 to 653, with 25 new openings and 139 closures in the first half of 2023[14]. Cost Management - The cost of raw materials and consumables decreased by 33.8% to RMB 196.6 million in the first half of 2023, down from RMB 297.1 million in the same period of 2022[20]. - Employee benefits and human resources expenses fell by 55.4% to RMB 169.5 million in the first half of 2023, down from RMB 380.0 million in the same period of 2022[21]. - Advertising and promotion expenses decreased by 74.7% from RMB 16.6 million for the six months ended June 30, 2022, to RMB 4.2 million for the six months ended June 30, 2023, mainly due to refined management of online promotions[27]. - Other expenses decreased by 26.9% from RMB 72.5 million for the six months ended June 30, 2022, to RMB 53.0 million for the six months ended June 30, 2023, primarily due to the reduction in the number of taverns[28]. Cash Flow and Financing - Cash and cash equivalents increased from RMB 1,298.6 million as of December 31, 2022, to RMB 1,449.9 million as of June 30, 2023, mainly due to net cash inflow from operating activities[42]. - Operating cash flow for the six months ended June 30, 2023, was RMB 217,576 thousand, compared to RMB 70,646 thousand for the same period in 2022, representing a significant increase of 208%[59]. - Net cash from operating activities increased to RMB 215,846 thousand from RMB 56,817 thousand year-on-year, indicating a growth of 280%[59]. - The net cash used in investing activities improved to RMB 10,175 thousand from a net cash outflow of RMB 219,005 thousand in the previous year[59]. - Financing activities resulted in a net cash outflow of RMB 113,758 thousand, an improvement from RMB 185,565 thousand in the same period of 2022[59]. Strategic Initiatives - The "Hi Beer Partner" initiative was launched in June 2023, aiming to enhance store experience and operational efficiency[9]. - The company plans to focus on market expansion and new product development to drive future growth[54]. - The company plans to continue using income generated from tavern operations for working capital, while potentially seeking additional funding through equity or debt financing in the future[46]. Shareholder Information - The proposed interim dividend is RMB 0.1162 per share, compared to no dividend in the same period of 2022[78]. - The record date for shareholders entitled to receive the proposed interim dividend is September 15, 2023, with share transfer documents due by September 20, 2023[108]. - The board proposed an interim dividend of RMB 0.1162 per share, totaling approximately RMB 147 million based on the current issued share capital of 1,266,901,524 shares[105].