Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 441,294 thousand, a decrease of 37.9% compared to RMB 709,992 thousand for the same period in 2023[2] - Profit attributable to owners for the same period was RMB 69,677 thousand, down 55.8% from RMB 157,487 thousand in 2023[2] - Adjusted net profit for the six months ended June 30, 2024, was RMB 90,278 thousand, a decline of 51.9% from RMB 187,660 thousand in 2023[2] - Same-store sales for the six months ended June 30, 2024, were RMB 277,358.6 thousand, a decrease of 28.6% from RMB 388,207.4 thousand in 2023[8] - Total comprehensive income for the six months ended June 30, 2024, was RMB 74,926 thousand, a decline of 57.4% compared to RMB 175,561 thousand for the same period in 2023[51] - The company reported a net loss of RMB 10,498,000 from the sale of property and equipment for the six months ended June 30, 2024, compared to a loss of RMB 134,887,000 in the same period of 2023, showing an improvement[63] Tavern Operations - The total number of taverns increased from 479 at the beginning of 2024 to 581 by August 26, 2024[3] - The "Hi Beer Partner" program has signed 415 stores, with 327 already in operation, covering 204 cities[3] - Average daily revenue per tavern in first-tier cities was RMB 8.7 thousand, up from RMB 8.4 thousand in 2023[5] - The average daily revenue per "Hi Beer Partner" tavern was RMB 27 thousand as of June 30, 2024, with no data available for the previous year[7] - The number of taverns in second-tier cities decreased from 314 in 2023 to 179 as of June 30, 2024[4] Revenue Sources - Revenue from the franchise business surged by 234.4% to RMB 130.4 million, accounting for 29.5% of total revenue in the first half of 2024, up from 5.5% in the same period of 2023[12] - Revenue from tavern operations and franchising for the six months ended June 30, 2024, was RMB 310,934,000 and RMB 130,360,000 respectively, compared to RMB 670,573,000 and RMB 39,419,000 in 2023[59] - Revenue from mainland China was RMB 433,762,000 for the six months ended June 30, 2024, down from RMB 707,580,000 in 2023, indicating a decrease of about 38.6%[60] Cost Management - The cost of raw materials and consumables decreased by 19.0% to RMB 159.3 million in the first half of 2024, down from RMB 196.6 million in the same period of 2023[15] - Employee benefits and human resource expenses fell by 43.1% to RMB 96.5 million, primarily due to a reduction in employee numbers[16] - Depreciation of right-of-use assets decreased by 48.0% to RMB 31.7 million, attributed to the termination of several lease agreements for direct-operated taverns[17] - Short-term rental and related expenses decreased by 53.3% from RMB 39.6 million for the six months ended June 30, 2023, to RMB 18.5 million for the six months ending June 30, 2024[19] - Energy costs decreased by 16.4% from RMB 11.6 million for the six months ended June 30, 2023, to RMB 9.7 million for the six months ending June 30, 2024[20] Financial Position - Cash and bank balances decreased from RMB 1,278.9 million as of December 31, 2023, to RMB 934.2 million as of June 30, 2024, mainly due to the payment of dividends[38] - Total liabilities decreased to RMB 305,105 thousand as of June 30, 2024, from RMB 343,577 thousand as of December 31, 2023, a reduction of 11.2%[53] - The company’s cash and cash equivalents dropped significantly to RMB 148,724 thousand as of June 30, 2024, from RMB 625,612 thousand as of December 31, 2023[52] - The total net proceeds amount to HKD 2,980.1 million, with a remaining balance of HKD 904.6 million as of December 31, 2023[95] Dividend and Shareholder Information - The company declared an interim dividend of approximately RMB 397,474,000 for the six months ended June 30, 2024, with a proposed dividend of RMB 0.1573 per share[68] - The interim dividend proposed is RMB 0.1573 per share, with a total payout dependent on the number of qualifying shareholders as of September 16, 2024[97] - The interim dividend for Hong Kong shareholders will be paid in HKD, calculated at HKD 0.17206 per share based on the exchange rate on August 29, 2024[98] - The interim dividend for Singapore shareholders will be paid in SGD, calculated at SGD 0.028751 per share based on the exchange rate on August 29, 2024[99] Corporate Governance and Compliance - The audit committee has reviewed the interim financial results for the six months ending June 30, 2024, confirming compliance with accounting standards and regulations[96] - The company has complied with all applicable corporate governance codes during the reporting period, except for the separation of roles between the chairman and the CEO[89] Future Plans and Investments - The company plans to allocate 70.0% of the net proceeds, amounting to HKD 2,086.1 million, for opening new bars and expanding its operations over the next three years[95] - 10.0% of the net proceeds, totaling HKD 298.0 million, will be used to strengthen the talent pipeline and optimize human resource management[95] - The company will invest 5.0% of the net proceeds, equivalent to HKD 149.0 million, to enhance its operational capabilities and continue investing in technology research and development[95] - A further 10.0% of the net proceeds, amounting to HKD 298.0 million, is designated for working capital and general corporate purposes[95]
海伦司(09869) - 2024 - 中期业绩