Restaurant Expansion - The company opened eight new restaurants during the six months ended September 30, 2024, including locations in Kwai Chung and Tsim Sha Tsui[9]. - The total number of restaurants increased from 55 as of March 31, 2024, to 62 as of September 30, 2024, representing a growth of 12.73%[12]. - The company plans to open additional restaurants in the fourth quarter of 2024, including locations in Popcorn and Causeway Bay[14]. - The number of Chinese cuisine restaurants increased from 17 to 22, a growth of 29.41%[12]. - The company’s restaurant count in Hong Kong rose from 50 to 56, an increase of 12%[10]. - The company’s total restaurant count in mainland China increased from 5 to 6, reflecting a 20% growth[10]. - The company confirmed new lease agreements for additional restaurant locations, with expected opening dates in 2024 and 2025[14]. - The company ceased operations of one restaurant located in Taikoo, effective April 2024, due to inefficiency in staffing[9]. Financial Performance - For the first half of the fiscal year 2025, the group recorded revenue of HKD 586,177,000, an increase of 19.3% compared to the first half of fiscal year 2024[19]. - The total number of customers served in the restaurants reached 2,535,177, an increase of 542,223 customers or 27.2% compared to the first half of fiscal year 2024[17]. - The average spending per customer decreased from HKD 246.6 in the first half of fiscal year 2024 to HKD 231.2 in the first half of fiscal year 2025[19]. - Net profit for the six months ended September 30, 2024, was approximately HKD 45,028,000, a slight decrease of 6.5%[27]. - Revenue for the six months ended September 30, 2024, was HKD 586,177,000, an increase of 19.2% compared to HKD 491,529,000 for the same period in 2023[165]. - Net profit for the period was HKD 45,028,000, a decrease of 6.5% from HKD 48,179,000 in the previous year[165]. - Basic earnings per share decreased to HKD 12.1 from HKD 12.6, reflecting a decline of 3.97%[169]. - Total comprehensive income for the period was HKD 45,572,000, down from HKD 46,983,000, representing a decrease of 3.0%[165]. Cost and Expenses - Employee costs increased by approximately 28.3% to HKD 183,276,000, with the percentage of employee costs to revenue rising from 29.1% to 31.3%[24]. - Material and consumable costs rose by approximately 19.9% to HKD 160,111,000, maintaining a percentage of 27.3% of revenue[23]. - Depreciation of property, plant, and equipment increased by approximately 32.6% to HKD 25,592,000, while the percentage of depreciation to revenue rose from 3.9% to 4.4%[26]. - The group reported a net cash outflow from investing activities of HKD 31,919,000 for the six months ended September 30, 2024, compared to HKD 59,151,000 in 2023, showing a reduction of about 46.0%[186]. - The company reported a loss on impairment of property, plant, and equipment of HKD 267,000 for the six months ended September 30, 2024, compared to no impairment loss in the previous year[183]. Shareholder Information - The group declared an interim cash dividend of HKD 0.060 per share for the six months ended September 30, 2024, compared to HKD 0.055 per share in 2023, totaling approximately HKD 22,770,000[35]. - The company’s dividend policy is to distribute no less than 50% of the profit attributable to shareholders[36]. - As of September 30, 2024, the major shareholders, Mr. Wong and Ms. Chan, each hold 68.59% of the shares through controlled corporations[40]. - Major shareholders Mr. Huang and Ms. Chan each hold 260,302,000 shares, representing approximately 68.59% of the company's equity[49]. - IKEAB Limited, beneficially owned by Mr. Huang and Ms. Chan, holds 250,318,000 shares, accounting for about 65.96% of the company's equity[49]. Corporate Governance - The company has established an audit committee to oversee the financial reporting process and internal controls[156]. - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2024, confirming compliance with applicable accounting standards and legal requirements[156]. - The company has complied with the corporate governance code as per GEM listing rules[154]. - The board of directors confirmed compliance with trading standards for all directors during the six months ended September 30, 2024[155]. - The company has no competition or conflict of interest with its major shareholders as of September 30, 2024[155]. Future Outlook - The company anticipates improved performance as travelers gradually return to Hong Kong and interest rate expectations decline[37]. - The company plans to continue enhancing food quality and providing top-notch service as key factors for success[37]. - The company is actively negotiating new potential locations in Hong Kong and mainland China for business expansion[37]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[165]. - The group continues to explore opportunities for market expansion and new strategies to enhance overall performance[199].
尝高美集团(08371) - 2025 - 中期财报