HAIDILAO(06862)2025-03-25 12:16Financial Performance - For the fiscal year ending December 31, 2024, the company's total revenue was RMB 42,754.7 million, representing a year-on-year increase of 3.1%[6] - The core operating profit for 2024 was RMB 6,229.9 million, up 18.7% compared to the previous year[6] - The net profit for the year increased by 4.6% to RMB 4,700.3 million, with earnings per share rising to RMB 0.87 from RMB 0.83 in 2023[3] - The company's total revenue increased by 3.1% from RMB 41,453.3 million in 2023 to RMB 42,754.7 million in 2024[10] - Revenue from restaurant operations accounted for 94.5% of total revenue in 2024, amounting to RMB 40,397.6 million, up 2.9% from RMB 39,266.6 million in 2023[11] - The takeout business revenue grew by 20.4% from RMB 1,041.5 million in 2023 to RMB 1,253.9 million in 2024, driven by the introduction of a premium fast food service[12] - System sales growth for Haidilao restaurants in 2024 was 3.0% year-on-year[21] - The company reported a financial cost of RMB 274,678 thousand in 2024, down from RMB 351,430 thousand in 2023, a reduction of 21.85%[56] - The income tax expense for the year was RMB 2,013,413, an increase of 54.60% from RMB 1,301,010 in 2023[72] - The company declared a total dividend of RMB 5,995,766,000 for the year ended December 31, 2024, significantly higher than RMB 553,798,000 in 2023[77] Customer Engagement and Operations - The average table turnover rate for self-operated restaurants was 4.1 times per day, an increase from 3.8 times in 2023[6] - The company served 415.0 million customers in 2024, a 4.5% increase year-on-year[6] - The number of active members exceeded 52 million in 2024, representing an 8.8% increase year-over-year[11] - The overall table turnover rate improved to 4.1 times per day in 2024, up from 3.8 times in 2023[14] - The digital operations strategy led to an 88% follow-up rate on customer feedback, enhancing customer retention[11] Expansion and Brand Development - The company opened 62 new restaurants in 2024, including 59 self-operated and 3 franchised, while closing or relocating 70 restaurants[7] - The "Pomegranate Plan" was officially launched to incubate and develop new restaurant brands, resulting in 74 stores across 11 new brands by the end of 2024[7] - The company launched 11 sub-brands under the "Pomegranate Plan" by the end of 2024, covering various dining scenarios[11] - The franchise business was officially launched in 2024, with 13 franchise restaurants approved and established by year-end[11] Cost Management - Cost of raw materials and consumables decreased by 4.3% to RMB 16,211.1 million in 2024, accounting for 37.9% of total revenue, down from 40.9% in 2023[22] - Employee costs increased by 8.2% to RMB 14,113.3 million in 2024, representing 33.0% of total revenue, up from 31.5% in 2023[23] - Rental and related expenses rose by 17.6% to RMB 425.5 million in 2024, maintaining a stable percentage of 1.0% of total revenue[24] - Other expenses increased by 15.7% to RMB 1,864.1 million in 2024, accounting for 4.4% of total revenue, up from 3.9% in 2023[28] Assets and Liabilities - Total assets decreased to RMB 13,024,158 thousand in 2024 from RMB 14,907,039 thousand in 2023, a decline of 12.63%[59] - Current liabilities decreased slightly to RMB 7,103,821 thousand in 2024 from RMB 7,241,812 thousand in 2023, a reduction of 1.91%[59] - Non-current assets decreased to RMB 9,757,099 thousand in 2024 from RMB 9,769,959 thousand in 2023, a decrease of 0.13%[58] - Trade receivables decreased from RMB 412.0 million to RMB 346.3 million, maintaining a turnover period of 3.2 days[41] - Trade payables decreased from RMB 1,859.4 million to RMB 1,796.4 million, with a turnover period increasing from 34.3 days to 41.2 days[42] Future Outlook and Strategic Initiatives - The company aims to enhance customer satisfaction and employee engagement through differentiated management and new restaurant formats[8] - The company will continue to focus on product innovation and market adaptation to meet diverse consumer needs in 2025[8] - Future initiatives include enhancing dining experiences, exploring diversified business strategies, and strategically seeking quality asset acquisitions[55] - The company aims to maintain optimal liquidity through regular monitoring of cash flow and balances to support ongoing business expansion[37] Governance and Compliance - The company has adopted and complied with the corporate governance code throughout the fiscal year ending December 31, 2024[92] - The audit committee reviewed the annual performance and financial reporting matters, confirming compliance with relevant accounting standards[96] Shareholder Information - The company plans to propose a final cash dividend of HKD 0.507 per share, totaling approximately RMB 2,534.2 million[7] - The proposed final dividend is HKD 0.507 per share, subject to shareholder approval at the annual general meeting on May 19, 2025[103] - The company plans to suspend share transfer registration from May 14 to May 19, 2025, to determine eligible shareholders for voting at the annual general meeting[104] - The company will also suspend share transfer registration from May 23 to May 28, 2025, to determine shareholders entitled to receive the final dividend[105]