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特海国际(09658) - 2024 - 中期财报
09658SUPER HI INTERNATIONAL(09658)2024-09-23 10:00
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Financial Performance - The Group reported an interim revenue of 50millionforthesixmonthsendedJune30,2024,representinga2050 million for the six months ended June 30, 2024, representing a 20% increase compared to the same period last year[8]. - The company has provided a performance guidance of 100 million in revenue for the full year 2024, indicating a projected growth of 25%[8]. - Revenue for the six months ended June 30, 2024, increased to US370,930,000,upfromUS370,930,000, up from US323,931,000 in the same period of 2023, representing a growth of 14.5%[13]. - Revenue from Haidilao restaurant operations reached US356,488,000,comparedtoUS356,488,000, compared to US312,718,000 in the prior year, marking an increase of 13.9%[13]. - The Group reported a loss for the period of US4,649,000,adeclinefromaprofitofUS4,649,000, a decline from a profit of US3,394,000 in the same period of 2023[13]. - Total comprehensive income for the period was 8,603,000,downfrom8,603,000, down from 14,960,000 in the same period last year[79]. - The company reported a loss attributable to owners of the Company of 4,583,000,comparedtoaprofitof4,583,000, compared to a profit of 3,541,000 in the prior year[79]. User Engagement and Market Expansion - User data showed a growth in active users to 1.2 million, up 15% year-over-year[8]. - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in market share within the next year[8]. - Total guest visits to Haidilao restaurants reached 14.5 million, an increase of 17.9% from 12.3 million in the same period of 2023[14]. - The company opened 8 new restaurants in the first half of 2024, including 5 in Southeast Asia, 2 in North America, and 1 in East Asia[19]. Operational Efficiency - Gross profit margin improved to 40%, up from 35% in the previous year[8]. - Average daily revenue per restaurant was US17,200,upfromUS17,200, up from US15,600, indicating a growth of 10.3%[14]. - The average table turnover rate improved to 3.8 times per day, an increase of 15.2% compared to 3.3 times per day in 2023[14]. - The restaurant level operating margin increased to 8.7%, compared to 8.3% in the same period last year, showing an improvement of 0.4 percentage points[14]. Research and Development - Research and development expenses increased by 10% to 5million,focusingoninnovativetechnologies[8].−Inthefirsthalfof2024,theGrouplaunchedover500newproductsglobally,enhancingcustomersatisfactionandbrandinfluence[17].FinancialManagement−Cashflowfromoperationswasreportedat5 million, focusing on innovative technologies[8]. - In the first half of 2024, the Group launched over 500 new products globally, enhancing customer satisfaction and brand influence[17]. Financial Management - Cash flow from operations was reported at 15 million, reflecting a 50% increase compared to the prior period[8]. - The Group's finance costs remained stable at US4.3millionforthesixmonthsendedJune30,2023,andUS4.3 million for the six months ended June 30, 2023, and US3.9 million for the same period in 2024[39]. - The Group's inventories decreased by 10.7% to US26.6millionasofJune30,2024,fromUS26.6 million as of June 30, 2024, from US29.8 million as of December 31, 2023[40]. - The current ratio as of June 30, 2024, improved to 2.3 from 1.7 as of December 31, 2023, indicating better short-term financial health[43]. Staffing and Costs - Staff costs amounted to US126.3millionforthesixmonthsendedJune30,2024,representinga17.3126.3 million for the six months ended June 30, 2024, representing a 17.3% increase from US107.7 million for the same period in 2023[35]. - The number of Haidilao restaurants grew to 122, up from 115 in the previous year, reflecting a 6.1% increase[14]. - The average spending per guest decreased to US24.6,downUS24.6, down US0.9 from US25.5inthesameperiodlastyear,primarilyduetoexchangeratefluctuations[20].StrategicInitiatives−Thecompanyisexploringpotentialacquisitionstoenhanceitsproductofferingsandmarketreach[8].−TheGroupaimstoenhancecustomerdiningexperiences,expandtherestaurantnetwork,improveoperationalperformance,andexplorenewbusinessforms[21].−TheGroupcompletedadual−listingonNASDAQinMay2024,focusingoncustomersatisfactionandemployeeeffortascoremissions[21].ChallengesandRisks−TheincreaseinnetforeignexchangelosswasUS25.5 in the same period last year, primarily due to exchange rate fluctuations[20]. Strategic Initiatives - The company is exploring potential acquisitions to enhance its product offerings and market reach[8]. - The Group aims to enhance customer dining experiences, expand the restaurant network, improve operational performance, and explore new business forms[21]. - The Group completed a dual-listing on NASDAQ in May 2024, focusing on customer satisfaction and employee effort as core missions[21]. Challenges and Risks - The increase in net foreign exchange loss was US8.8 million, reaching US19.5million,impactingthenetprofitduringthereportingperiod[21].−GovernmentgrantsdecreasedbyUS19.5 million, impacting the net profit during the reporting period[21]. - Government grants decreased by US1.4 million compared to the same period last year due to the cancellation of COVID-19-related restaurant subsidies in some countries[20]. - The Group's financial performance reflects significant fluctuations compared to the previous year, indicating potential challenges in revenue generation[123]. Shareholder Information - As of June 30, 2024, the company had 650,299,000 issued shares[55]. - Ms. Shu Ping holds a 51.69% interest in the company, representing 336,167,124 shares[54]. - The Group issued 3,096,600 ADSs at a price of US19.56perADSinMay2024,raisingtotalgrossproceedsofUS19.56 per ADS in May 2024, raising total gross proceeds of US60.57 million before expenses[41].