Restaurant Operations - The company opened six new restaurants during the first half of the 2022 fiscal year, including locations in Tsuen Wan, Shanghai, and Tsim Sha Tsui[18]. - The total number of restaurants as of September 30, 2021, was 35, a decrease from 37 in June 2021[21]. - The company decided not to renew leases for several restaurants due to employee shortages, reallocating staff to more efficient locations[19]. - The company plans to open new restaurants in Shanghai and Tuen Mun by the fourth quarter of 2021, with specific lease agreements in place[24]. - The group operated 8 B-type restaurants, 13 C-type restaurants, and 11 D-type restaurants as of the report date, adapting to various social distancing measures[33]. - The group opened new restaurants, which contributed to the revenue growth alongside increased average spending and changes in dining habits due to social distancing measures[35]. Financial Performance - The group recorded revenue of HKD 315,172,000 for the first half of the 2022 fiscal year, representing a 75.9% increase compared to HKD 179,136,000 in the same period of 2020[35]. - The number of customers served across restaurants reached 1,537,633, an increase of 482,354 customers or 45.7% compared to the first half of the 2021 fiscal year[27]. - Average spending per customer increased from HKD 169.8 to HKD 205.0, with a higher average of HKD 208.2 when excluding snack and dessert businesses[27]. - Revenue from Japanese cuisine accounted for 52.6% of total revenue, increasing by 89.9% from the previous year, while Chinese cuisine revenue grew by 156.1%[36]. - The group’s revenue from Southeast Asian cuisine was HKD 23,218,000, accounting for 7.4% of total revenue, which is a 15.0% increase from the previous year[36]. - The dessert segment saw a significant decline, with revenue dropping by 67.6% to HKD 1,142,000 compared to HKD 3,520,000 in the previous year[36]. - The increase in revenue was partially offset by the closure of some restaurants during the reporting period[35]. - The group reported a segment profit of HKD 36,936,000 for the six months ended September 30, 2021, compared to HKD 27,082,000 for the same period in 2020, reflecting a growth of approximately 36%[119]. - For the six months ended September 30, 2021, the company reported a profit attributable to shareholders of HKD 26,466,000, compared to HKD 4,514,000 for the same period in 2020, representing a significant increase[131]. Costs and Expenses - Material and consumable costs increased by approximately 76.3% in the first half of FY2022 compared to FY2021, maintaining a stable percentage of 30.4% of revenue[41]. - Employee costs rose by approximately 81.4% in the first half of FY2022, with employee costs as a percentage of revenue increasing from 27.0% to 27.8%[42]. - Property rental and related expenses grew by approximately 52.1% in the first half of FY2022, while the percentage of revenue decreased from 6.0% to 5.2%[42]. - The company incurred finance costs of HKD 4,517 thousand for the six months ended September 30, 2021, compared to HKD 3,037 thousand for the same period in 2020, reflecting higher borrowing costs[91]. - The company’s employee costs for the six months ended September 30, 2021, were HKD 87,772 thousand, up from HKD 48,386 thousand for the same period in 2020, indicating increased workforce expenses[91]. Dividends and Shareholder Information - The interim cash dividend declared is HKD 0.04 per share for the six months ending September 30, 2021, compared to zero in 2020, totaling approximately HKD 15,477,000[57]. - The payout ratio for the interim dividend is approximately 58.2%, based on a profit attributable to shareholders of approximately HKD 26,596,000 for the same period[57]. - The company’s current dividend policy is to distribute no less than 50% of the profit attributable to shareholders[57]. - Major shareholders, Mr. Wong and Ms. Chan, each hold 260,302,000 shares, representing approximately 67.273% of the equity[60]. - IKEAB Limited, owned by Mr. Wong and Ms. Chan, holds 250,318,000 shares, representing approximately 64.693% of the equity[67]. Cash Flow and Financing - Cash and cash equivalents amounted to HKD 98,700,000 as of September 30, 2021[51]. - The company has an unused available bank financing amounting to HKD 30,500,000, which supports its operational funding needs[109]. - The company recorded a net cash increase of HKD 17,298,000 for the six months ended September 30, 2021, compared to HKD 7,628,000 in the same period of 2020, reflecting improved liquidity[106]. - The company’s cash flow from investing activities for the six months ended September 30, 2021, was a net outflow of HKD 30,658,000, compared to HKD 20,528,000 in the same period of 2020, indicating increased capital expenditures[106]. Corporate Governance and Compliance - The company has complied with the corporate governance code as per GEM Listing Rules Appendix 15 during the six months ended September 30, 2021[79]. - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2021, and found them compliant with applicable accounting standards and disclosure requirements[83]. - The company has adopted written guidelines regarding securities trading by directors, ensuring compliance with GEM Listing Rules[81]. Future Plans and Strategies - The company plans to continue improving food quality and service as customer dining habits adjust due to social distancing requirements, with a focus on providing value for money[58]. - The company is in discussions for new potential locations in Hong Kong and mainland China, in addition to two committed new leases[58]. - The company plans to utilize the proceeds from the share placement for restaurant business expansion and to provide additional working capital[146].
尝高美集团(08371) - 2022 - 中期财报