Financial Performance - The company reported a revenue of HK$1.2 billion for the first half of the year, representing a 15% increase year-over-year[6]. - Revenue for the six months ended June 30, 2020, was RMB 949,507,000, a decrease of 23.3% from RMB 1,237,138,000 in the same period of 2019[24]. - The company reported a loss before taxation of RMB 128,858,000 compared to a profit of RMB 138,546,000 in the previous year[24]. - Adjusted net loss for the period was RMB 114,840,000 compared to a profit of RMB 116,341,000 in the same period of 2019[24]. - The company reported a significant increase in finance costs, totaling RMB 33.8 million, compared to RMB 29.1 million in the previous year[163]. - The company recorded a loss of RMB 88,696,000 for the six months ended June 30, 2020, compared to a profit of RMB 102,037,000 for the same period in 2019[166]. - Total comprehensive income for the period was RMB (21,890,000), a significant decrease from RMB 102,037,000 in the previous year[166]. Customer and Market Growth - User data showed a 20% growth in active customers, reaching 1.5 million by the end of the reporting period[6]. - The company is expanding its market presence with plans to open 30 new locations in the next year, targeting key urban areas[6]. - The company is focused on expanding its Jiu Mao Jiu brand and enhancing its market presence in the PRC[9]. - The company plans to continue its restaurant network expansion plan for Tai Er while adopting a moderate approach for other brands due to uncertainties caused by the Epidemic[44]. Operational Changes and Challenges - The financial results were impacted by the ongoing epidemic, affecting restaurant operations and customer traffic[28]. - The company continues to focus on expanding its restaurant network and enhancing customer experience despite the challenging environment[28]. - A total of 48 self-operated restaurants were closed, resulting in asset disposal losses of approximately RMB27.8 million[32]. - The company permanently closed 43 Jiu Mao Jiu restaurants during the six months ended June 30, 2020, due to the epidemic[62]. Revenue Streams - Revenue from restaurant operations decreased by 35.8% from RMB1,117.1 million in the first half of 2019 to RMB717.5 million for the comparative period in 2020[44]. - Revenue from Tai Er increased by 24.8% from RMB537.2 million for the six months ended June 30, 2019 to RMB670.5 million for the comparative period in 2020[44]. - Revenue from delivery business increased by 107.3% from RMB106.0 million to RMB219.8 million, significantly increasing its share of total revenue from 8.6% to 23.1%[62]. Cost Management and Efficiency - The gross profit margin improved to 35%, up from 32% in the previous year, indicating better cost management[6]. - The company aims to reduce operational costs by 10% through process optimization and supply chain improvements[6]. - Staff costs as a percentage of revenue increased from 25.9% for the six months ended June 30, 2019 to 34.5% for the same period in 2020[66]. - Other rentals and related expenses decreased by 34.9% from RMB21.5 million for the six months ended June 30, 2019 to RMB14.0 million for the same period in 2020[69]. Future Outlook and Strategies - The company provided a positive outlook, projecting a revenue growth of 10-15% for the next fiscal year[6]. - Future strategies include diversifying the menu offerings and enhancing delivery services to capture a larger market segment[6]. - The company plans to expand into global markets, prioritizing locations with high populations of Chinese people such as Hong Kong, Macau, Singapore, the United States, and Canada[46]. Shareholder Information and Corporate Governance - Guan Yihong holds 614,445,000 shares, representing approximately 44.42% of the Company's shareholding as of June 30, 2020[117]. - The Board did not recommend the payment of an interim dividend for the six months ended June 30, 2020, compared to Nil for the same period in 2019[114]. - The company has complied with the Model Code for securities transactions by directors since the Listing Date[144]. Capital and Financing Activities - The company completed a subscription on July 30, 2020, receiving net proceeds of approximately HKD829.5 million[108]. - The company raised RMB 2,135,929,000 from the issuance of ordinary shares during the IPO and over-allotment, net of issuance costs[178]. - The company plans to use the net proceeds from the subscription for investments in other companies in the catering industry and for general working capital[161].
九毛九(09922) - 2020 - 中期财报