Financial Performance - Total revenue for the fiscal year ended December 31, 2024, was RMB 4,314.1 million, an increase of 41.4% compared to RMB 3,050.7 million in the fiscal year 2023[5] - The company reported a profit attributable to owners of RMB 55.2 million, reversing a loss of RMB 26.6 million in the previous year[5] - Adjusted net profit for fiscal year 2024 was RMB 131.16 million, significantly up from RMB 8.78 million in fiscal year 2023[45] - The company recorded a net profit of RMB 55.2 million for the fiscal year 2024, compared to a net loss of RMB 26.6 million in fiscal year 2023[39] - Basic earnings per share improved to RMB 0.42 in 2024, compared to a loss of RMB (0.22) in 2023[10] Store Expansion and Operations - The number of stores increased to 1,008, with a net addition of 240 new stores during the year, marking a significant expansion in the store network[10] - The company operated 1,008 stores across 39 cities in mainland China as of December 31, 2024[9] - The company plans to open approximately 300 new stores in 2025, with total capital expenditure estimated at RMB 570 million[16] - The average daily sales per store increased from RMB 12,580 in fiscal year 2023 to RMB 13,126 in fiscal year 2024, a rise of 4.3%[18] Membership and Customer Growth - The number of members reached 24.5 million, up from 19.4 million in June 2024 and 14.6 million in December 2023[8] - Membership increased from 14.6 million to 24.5 million, with member contributions to total revenue rising from 59.2% to 64.5%[14] Profitability Metrics - Adjusted EBITDA for the year was RMB 495.2 million, a 64.1% increase from RMB 301.7 million in the previous year[5] - Store-level EBITDA for fiscal year 2024 was RMB 831.37 million, up from RMB 576.62 million in fiscal year 2023, with a store-level EBITDA margin of 19.3% compared to 18.9%[45] - The EBITDA margin at the store level improved to 19.3%, up from 18.9% in the previous year[5] Revenue Sources - Revenue from new growth markets surged by 77.0% from RMB 1,505.6 million in 2023 to RMB 2,664.5 million in 2024, contributing 61.8% to total revenue[11] - Total revenue increased from RMB 3,050.7 million in the fiscal year 2023 to RMB 4,314.1 million in the fiscal year 2024, representing a growth of 41.4%[18] Cost and Expenses - The group's raw material and consumable costs for the fiscal year 2024 amounted to RMB 1,169.8 million, an increase of RMB 333.0 million or 39.8% compared to RMB 836.8 million in fiscal year 2023[24] - Employee compensation expenses reached RMB 1,509.5 million in fiscal year 2024, up RMB 330.8 million or 28.1% from RMB 1,178.7 million in fiscal year 2023[25] - Rent expenses increased to RMB 428.2 million in fiscal year 2024, a rise of RMB 120.5 million or 39.2% from RMB 307.7 million in fiscal year 2023, while the percentage of rent expenses to total revenue decreased from 10.1% to 9.9%[29] - Utilities expenses increased to RMB 164.1 million in fiscal year 2024, up RMB 49.3 million or 42.9% from RMB 114.8 million in fiscal year 2023[32] Financial Position - Cash and bank balances increased by 4.9% to RMB 1,069.3 million as of December 31, 2024, from RMB 1,019.2 million as of December 31, 2023[47] - Current assets totaled RMB 1,368.6 million as of December 31, 2024, while current liabilities were RMB 1,517.0 million, resulting in a current ratio of 0.9, down from 1.19 in the previous year[48] - The company's debt amounted to RMB 200.0 million as of December 31, 2024, unchanged from the previous year, with plans to repay RMB 100.0 million due on March 28, 2025[49] - The company's debt-to-equity ratio was approximately 8.9% as of December 31, 2024, a decrease from 9.5% as of December 31, 2023, due to improved profitability[51] Employee Statistics - The company employed 9,160 full-time employees as of December 31, 2024, up from 6,536 in 2023, representing an increase of about 40.0%[57] - The company had 19,640 part-time employees as of December 31, 2024, compared to 15,635 in 2023, indicating a growth of approximately 25.7%[57] - The total employee cost was RMB 1,509.5 million, an increase from RMB 1,178.7 million in 2023, reflecting a growth of approximately 28.1%[58] Corporate Governance and Future Plans - The company received the "2024 Best Employer" award from Mercer, marking the third consecutive year of this recognition[58] - The annual general meeting is scheduled for May 29, 2025, with a record date for voting eligibility on the same day[62] - The company has exclusive rights to develop and operate Domino's Pizza stores in mainland China, Hong Kong, and Macau until June 1, 2027, with potential extensions[82]
达势股份(01405) - 2024 - 年度业绩