Financial Performance - The company's revenue increased by 25.3% from RMB 4,724.8 million in 2022 to RMB 5,917.962 million in 2023[4]. - The company reported a total loss of RMB 194.445 million for the year, an improvement from a loss of RMB 331.188 million in the previous year[2]. - The total net income for the group in 2023 was RMB 2,617.8 million, an increase from RMB 2,259.5 million in 2022[16]. - The pre-tax loss decreased significantly by 64.6% from RMB 350.9 million in 2022 to RMB 124.4 million in 2023[36]. - The company recorded a net loss of RMB 135.2 million in 2023, compared to a net loss of RMB 16.5 million in 2022, primarily due to impairment losses on non-current assets[45]. - The loss attributable to the company's owners narrowed from RMB 353.1 million in 2022 to RMB 199.5 million in 2023[48]. - The company reported a total revenue of RMB 5,917.96 million for 2023, compared to RMB 4,724.83 million in 2022, reflecting a year-over-year increase[57]. - The net loss for the year ended December 31, 2023, was RMB 194.45 million, a decrease from a net loss of RMB 331.19 million in 2022[56]. Restaurant Operations - The total number of restaurants operated by the company reached 1,098, with 186 new openings and 114 closures in 2023[6]. - The company operates 833 Xiabuxiabu restaurants, with 38.1% located in first-tier cities, up from 37.6% in 2022[7]. - The total number of Coucou restaurants increased to 257, with a significant presence in second-tier cities[9]. - The company closed 99 Xiabuxiabu restaurants due to losses, primarily in areas not aligned with the brand's value proposition[4]. - In 2023, the company successfully opened 131 new restaurants under the "Xiaobai Xiaobai" brand, with a remarkable table turnover rate exceeding 10 times in southern cities like Shanghai[21]. - For 2024, the company plans to open no less than 100 new "Xiaobai Xiaobai" restaurants, targeting a turnover rate of at least 3 times in new locations[21]. - "Cou Cou" brand opened 45 new restaurants in mainland China in 2023, despite a challenging consumption environment, and plans to open 26 new hot pot restaurants in 2024[21]. Customer Engagement and Membership - The membership program saw a 62% increase in new member recruitment in 2023, with member spending frequency rising to 2.79 times[25]. - The paid membership program "Chang Chi Card" generated over 150 million yuan in sales in 2023, with consumption frequency for cardholders increasing 2.1 times compared to regular members[25]. - In 2024, "Cou Cou" will focus on new product development and member plans, with over 70% of menu items offering exclusive discounts for "Chang Chi Card" members[24]. - The company aims to enhance customer engagement through its membership system and cross-brand collaborations with banks and airlines[33]. Financial Management and Costs - Employee costs increased by 19.9% from RMB 1,553.5 million in 2022 to RMB 1,862.9 million in 2023, while the employee count rose from 27,059 to 28,665[40]. - Property rental and related expenses rose by 23.5% from RMB 251.8 million in 2022 to RMB 311.1 million in 2023, maintaining a consistent percentage of 5.3% of total revenue[41]. - Utility expenses increased by 27.3% from RMB 177.5 million in 2022 to RMB 225.9 million in 2023, with the percentage of total revenue remaining stable at 3.8%[42]. - The cost of raw materials and consumables increased by 23.1% to RMB 2,214.4 million, but the percentage of these costs relative to total revenue decreased from 38.1% to 37.4%[39]. - The company recognized a total tax expense of RMB 70,070,000 in 2023, compared to a tax benefit of RMB 19,747,000 in 2022, marking a significant shift in tax position[86]. Strategic Plans and Market Focus - The company plans to continue its overseas expansion strategy, focusing on markets such as Hong Kong, Taiwan, and Singapore[5]. - The group plans to focus on ensuring high-quality and safe ingredients, improving dining experiences, and enhancing brand recognition in a competitive market[20]. - The company plans to upgrade 150 outdated restaurant locations to create a more appealing dining environment[23]. - The company will continue to target the "new middle class" and university student market segments with tailored dining experiences[24]. - The company plans to continue leveraging its supply chain advantages to diversify product offerings and meet the diverse needs of consumers, particularly young consumers[26]. Product Development and Innovation - The company plans to add 5-8 new SKUs in the affordable hot pot base and home cooking seasoning categories in 2024[34]. - The company will optimize its afternoon tea and late-night snack offerings in 2024, introducing a flexible combination model to cater to different consumer scenarios[26]. - In September 2023, the company launched the "Sauerkraut Pork Hot Pot," which received positive consumer feedback, and plans to introduce new flavored hot pot bases in 2024[27]. - The company is focusing on developing camping meal packages to meet the growing interest in outdoor dining experiences[34]. - In 2024, the company will launch new products inspired by traditional Taiwanese cuisine, including various hot pot bases and snacks, to enhance consumer choice[26]. Governance and Compliance - The company has adopted a corporate governance code to ensure high standards of accountability and transparency, with a focus on maintaining a balanced power structure within the board[108]. - The audit committee, consisting of independent non-executive directors, reviewed the annual performance for the year ending December 31, 2023[112]. - The company's financial statements for the year ending December 31, 2023, were approved by Deloitte, confirming consistency with the preliminary announcement[113]. - The board proposes a special resolution to amend the company's articles of association at the annual general meeting[115].
呷哺呷哺(00520) - 2023 - 年度业绩