Financial Performance - The company's revenue for the year ended December 31, 2024, was RMB 752,206, a decrease of 37.7% compared to RMB 1,208,613 in 2023[4]. - The adjusted net profit for the year was RMB 100,555, down 65.5% from RMB 291,088 in 2023[4]. - Same-store sales for the year 2024 were RMB 527,533.6, representing a decline of 21.3% compared to RMB 670,039.4 in 2023[11]. - In 2024, the company recorded revenue of RMB 752 million, a decrease of 37.8% from RMB 1,209 million in 2023, primarily due to a weak consumer market[14][16]. - Revenue for the year ended December 31, 2024, was RMB 752.2 million, a decrease from RMB 1,208.6 million for the year ended December 31, 2023, reflecting a decline in business performance[67]. - Revenue from self-operated taverns dropped significantly from RMB 1,103,300 thousand in 2023 to RMB 557,513 thousand in 2024, a decrease of about 49.5%[79]. - Revenue from franchise services netted RMB 10,067 thousand in 2024, down from RMB 71,107 thousand in 2023, representing a decline of approximately 85.8%[79]. - The company reported a loss attributable to owners of RMB 77.98 million for the year ended December 31, 2024, compared to a profit of RMB 180.5 million for the year ended December 31, 2023[67]. Assets and Liabilities - Total assets decreased to RMB 1,375,975 in 2024 from RMB 2,164,984 in 2023[5]. - Non-current assets decreased to RMB 459,772 in 2024 from RMB 740,830 in 2023[5]. - The company's total liabilities decreased from RMB 343,577 thousand in 2023 to RMB 257,184 thousand in 2024, a decline of about 25.2%[69]. - Cash and cash equivalents fell sharply from RMB 625,612 thousand in 2023 to RMB 131,802 thousand in 2024, a decrease of approximately 78.9%[68]. - Lease liabilities decreased from RMB 255.7 million as of December 31, 2023, to RMB 145.4 million as of December 31, 2024, due to a reduction in the number of taverns[54]. - Trade payables decreased from RMB 30.7 million as of December 31, 2023, to RMB 28.7 million as of December 31, 2024, attributed to a decline in revenue and procurement[55]. Operational Metrics - The total number of taverns in the global network increased to 579 as of March 19, 2025, up from 560 in 2024 and 479 in 2023[7]. - The average daily sales per tavern in first-tier cities increased to RMB 8.3 in 2024 from RMB 7.5 in 2023[9]. - The number of stores expanded from 479 at the end of 2023 to 560 by the end of 2024, maintaining industry leadership[14][15]. - The gross profit margin for Helen's proprietary beverages improved to 76.6% in 2024 from 75.7% in 2023[13]. - The gross profit margin at the store level remained stable at 69% in 2024, with the gross profit margin for proprietary beverages increasing from 75.7% in 2023 to 76.6% in 2024[14]. Expenses and Cost Management - The cost of materials and consumables decreased by 12.1% to RMB 316.3 million in 2024, down from RMB 359.8 million in 2023, due to lower sales revenue from direct-operated stores[21]. - Employee benefits and human services expenses dropped by 41.9% to RMB 173.7 million in 2024, down from RMB 298.8 million in 2023, due to a reduction in employee numbers[22]. - Depreciation of right-of-use assets decreased by 44.8% to RMB 60.8 million in 2024, down from RMB 110.2 million in 2023, as a result of terminating several lease contracts[23]. - Advertising and promotion expenses decreased by 36.5% to RMB 12.5 million in 2024, down from RMB 19.7 million in 2023, due to refined online promotion management[29]. - Other expenses totaled RMB 70,396,000 in 2024, down from RMB 79,257,000 in 2023, reflecting a decrease of 11.8%[85]. Impairment and Losses - Impairment loss of property, plant, and equipment increased from RMB 11.3 million for the year ended December 31, 2023, to RMB 85.8 million for the year ended December 31, 2024, primarily due to the decline in fair value of office properties amid a sluggish domestic real estate market[32]. - Investment property impairment loss for the year ended December 31, 2024, was RMB 9.5 million, compared to no loss for the year ended December 31, 2023, mainly due to the decline in fair value caused by the domestic real estate market downturn[33]. - Trade receivables impairment loss net amount increased to RMB 16.7 million for the year ended December 31, 2024, from RMB 0.2 million for the year ended December 31, 2023, primarily due to the optimization and adjustment of the tavern network[34]. - The company recognized impairment losses of approximately RMB 11,938,000 and RMB 23,833,000 for property, plant, and equipment, and right-of-use assets respectively, for the year ended December 31, 2024[104]. Future Outlook and Strategy - The company plans to continue expanding its tavern network through the "Hi Beer Partner" program and strengthen supply chain management capabilities[15]. - The company plans to continue seeking new business development opportunities despite not having any major investments or acquisitions during the reporting period[65]. - The company’s revenue projections and cost assumptions were re-evaluated based on past performance and the uncertain recovery of consumer spending in China[103]. - The company’s management identified impairment indicators for several restaurants due to ongoing economic challenges in China, leading to impairment assessments[102]. Corporate Governance and Compliance - The audit committee, consisting of three independent non-executive directors, reviewed the audited consolidated financial statements for the year ended December 31, 2024, confirming compliance with applicable accounting standards[126]. - The company has adopted corporate governance practices in accordance with the relevant listing rules, although it has not separated the roles of the chairman and CEO[118][119]. - There were no significant post-reporting period events identified from December 31, 2024, to the announcement date[128]. - The company has not engaged in any significant litigation or arbitration during the reporting period[125].
海伦司(09869) - 2024 - 年度业绩