Financial Performance - In the first half of 2024, the Group's revenue decreased by 1.9% to RMB 2,544.4 million from RMB 2,593.8 million for the same period in 2023[9]. - The adjusted net loss turned from a profit of RMB 70.2 million in the first half of 2023 to a loss of RMB 437.7 million in the same period in 2024[9]. - Total revenue for the first half of 2024 was RMB 2,544.4 million, a decrease of RMB 49.5 million compared to the same period in 2023[12]. - The Group recorded revenue of approximately RMB 2,544.4 million, a decrease of approximately 1.9% compared to RMB 2,593.8 million for the same period in 2023[50]. - The company reported a loss for the period of RMB 435,202,000 for the six months ended June 30, 2024, compared to a profit of RMB 66,098,000 for the same period in 2023[185]. - Total comprehensive income for the six months ended June 30, 2024, was a loss of RMB 420,186,000, significantly down from a total comprehensive income of RMB 162,429,000 in the previous year[185]. Revenue Breakdown - Revenue from Nayuki self-operated stores was RMB 2,104.6 million, accounting for 82.7% of total revenue[12]. - Revenue from ready-to-drink beverages was RMB 172.0 million, representing 6.8% of total revenue[12]. - Other revenue sources contributed RMB 267.8 million, accounting for 10.5% of total revenue[12]. - Nayuki teahouses contributed approximately 82.7% of the Group's total revenue for the reporting period, down from 90.8% in the same period of 2023[50]. - Revenue from delivery orders accounted for approximately 35.2% of total revenue generated from Nayuki self-operated stores[25]. Operating Profit and Margins - Store-level operating profit for Nayuki self-operated stores was RMB 165.1 million, representing a decrease of 65.1% compared to the same period in 2023[9]. - The store-level operating profit margin for Nayuki self-operated stores was 7.8%, a decrease of 12.3 percentage points compared to the same period in 2023[9]. - The store-level operating profit margin decreased to 7.8% in the first half of 2024 from 20.1% in the same period of 2023, reflecting pressure on store revenue levels[46]. Cash Flow and Liquidity - Net cash generated from operating activities decreased by 73.3% from RMB 388.1 million in the first half of 2023 to RMB 103.8 million in the same period in 2024[9]. - The total cash and cash equivalents at June 30, 2024, were RMB 374,088, down from RMB 671,001 at the end of the previous year[193]. - The Group reported a net decrease in cash and cash equivalents of RMB 81,357 for the six months ended June 30, 2024, compared to a much larger decrease of RMB 727,783 in the same period of 2023[193]. Cost Structure - Labour costs as a percentage of revenue increased to 24.6% in 2024 from 19.6% in 2023, indicating rising operational costs[46]. - Material costs amounted to approximately RMB 933.0 million, representing about 36.7% of total revenue, an increase from RMB 825.5 million or 31.8% of total revenue for the same period in 2023[56]. - Staff costs were approximately RMB 746.7 million, accounting for about 29.3% of total revenue, up from RMB 685.6 million or 26.4% for the same period in 2023[59]. - Advertising and promotion expenses were approximately RMB 112.7 million, representing about 4.4% of total revenue, an increase from RMB 74.1 million or 2.9% for the same period in 2023[66]. Store Expansion and Operations - As of June 30, 2024, the Group had a total of 297 Nayuki franchise stores[9]. - As of June 30, 2024, the Group had 1,597 Nayuki self-operated stores, reflecting a net increase of 23 stores in the first half of 2024[30]. - The Group aims to expand its market presence primarily in existing Tier 1 cities, New Tier 1 cities, and key Tier 2 cities[30]. Employee and Talent Management - The Group has adopted the 2020 Share Option Plan and the 2020 Share Incentive Plan to motivate employees and retain talent[95]. - A one-month in-store training program is mandatory for all newly recruited operational employees to ensure high-quality product delivery and customer service[96]. - The Group has established a vanguard program to maintain a local talent pool and provide promotion paths for outstanding employees[96]. Shareholder Information - As of June 30, 2024, Mr. Zhao Lin and Ms. Peng Xin each hold a beneficial interest in 1,007,281,120 shares, representing approximately 58.73% of the company's issued share capital[107]. - The total number of shares in issue as of June 30, 2024, is 1,715,126,147[108]. - The company has a significant concentration of ownership, with the top shareholder holding nearly 57% of the shares[113]. Corporate Governance - The company has complied with all applicable code provisions of the Corporate Governance Code during the reporting period[149]. - The roles of chairman and chief executive officer are held by Mr. Zhao Lin, who has extensive experience in the group's business operations[149]. - The board will review the corporate governance structure and practices periodically[149]. Audit and Compliance - The interim financial report for Nayuki Holdings Limited for the six months ended June 30, 2024, has been reviewed and is in compliance with International Accounting Standard 34[155]. - KPMG performed an independent review of the Group's interim financial information for the reporting period, ensuring adherence to relevant auditing standards[156].
奈雪的茶(02150) - 2024 - 中期财报