Financial Performance - For the fiscal year ending December 31, 2024, the total revenue decreased by 4.7% to RMB 4,921.2 million from RMB 5,164.1 million in 2023[4]. - Adjusted net loss for 2024 was RMB 918.7 million, a significant decline from a profit of RMB 20.9 million in 2023[4]. - Revenue for the year ended December 31, 2024, was RMB 4,921.2 million, a decrease of approximately 4.7% compared to RMB 5,164.1 million in 2023[28]. - The total comprehensive loss for the year was RMB (893,209) thousand, compared to a total comprehensive income of RMB 41,442 thousand in 2023[73]. - The company reported a basic and diluted loss per share of RMB (0.54) for 2024, compared to earnings per share of RMB 0.01 in 2023[72]. - The company reported a loss of RMB 2,124,388,000 for the year ending December 31, 2024, compared to a profit of RMB 122,083,000 in 2023[117]. - The comprehensive loss for the year ending December 31, 2024, was RMB 2,045,836,000, compared to a comprehensive income of RMB 218,970,000 in 2023[117]. Revenue Sources - The revenue from directly operated stores fell by 6.3% to RMB 4,158.4 million, accounting for 84.5% of total revenue[7]. - Revenue from freshly made tea sales was RMB 3,388,398,000, down from RMB 3,776,943,000 in 2023, indicating a decrease of about 10.3%[82]. - The revenue from bottled beverages increased by 10.0% to RMB 293.3 million, representing 6.0% of total revenue[8]. - The franchise business expanded from 81 to 345 stores, contributing a small portion of total revenue[14]. Membership and Customer Engagement - As of December 31, 2024, the registered membership reached approximately 102.8 million, with monthly active members totaling about 4.8 million and a monthly repurchase rate of 24.0%[12]. - Average daily order volume per tea shop dropped from 344.3 in 2023 to 270.5 in 2024[17]. - Self-pickup orders increased to 1,894,447 in 2024, representing 45.5% of total orders, up from 43.6% in 2023[18]. Operational Adjustments - The company plans to explore new store formats to adapt to different consumer scenarios and enhance market share[26]. - The company aims to enhance supply chain management and optimize operational costs at the headquarters level[27]. - The company has implemented a cautious strategy for business expansion due to a lack of significant recovery in consumer demand, extending the expected timeline for utilizing the proceeds[68]. Costs and Expenses - Material costs amounted to RMB 1,809.0 million, representing 36.8% of total revenue, an increase from RMB 1,699.4 million and 32.9% in 2023, driven by new franchise operations and a commitment to high-quality raw materials[31]. - Employee costs were RMB 1,434.6 million, accounting for 29.2% of total revenue, up from RMB 1,403.9 million and 27.2% in 2023, influenced by increased operating days despite a reduction in direct-operated store numbers[32]. - Advertising and promotional expenses increased to RMB 246.0 million, accounting for 5.0% of total revenue, up from RMB 165.8 million and 3.2% in 2023, as the company intensified marketing efforts[36]. Assets and Liabilities - The company's total assets decreased from RMB 7,540,364 thousand in 2023 to RMB 6,165,150 thousand in 2024, reflecting a reduction of approximately 18.2%[74]. - Current liabilities decreased from RMB 1,351,046 thousand in 2023 to RMB 1,152,683 thousand in 2024, a reduction of approximately 14.7%[75]. - The group's trade and other payables decreased from RMB 635.8 million as of December 31, 2023, to RMB 528.5 million as of December 31, 2024, primarily due to a reduction in payables to suppliers[54]. Cash Flow and Liquidity - The cash generated from operating activities dropped by 75.7% to RMB 201.6 million compared to RMB 828.5 million in 2023[4]. - As of December 31, 2024, the company held cash and deposits totaling RMB 2,694.2 million, providing sufficient liquidity for operational adjustments[27]. - The company's cash and cash equivalents increased from RMB 444,346 thousand in 2023 to RMB 579,122 thousand in 2024, an increase of about 30.3%[74]. Shareholder Actions - The company repurchased 6,966,308 shares in 2024 at a total cost of approximately RMB 22,641,000, with a maximum price of HKD 3.07 per share[98]. - The group canceled 7,538,000 shares during the year, with a total book value of RMB 18,167,000[116]. - The company did not declare or pay any dividends for the year ending December 31, 2024, consistent with 2023[121]. Future Outlook - The group plans to enhance its overall operations with 10.0% or HKD 484.2 million of the net proceeds, aimed at improving operational efficiency[68]. - The company has no plans for any future significant investments or capital asset plans beyond what has been disclosed in the prospectus[64].
奈雪的茶(02150) - 2024 - 年度业绩