Financial Performance - Revenue for the six months ended June 30, 2025, was RMB 2,290,375, representing a 23.1% increase compared to RMB 1,859,826 for the same period in 2024[9]. - Profit before tax for the same period was RMB 277,881, up 28.8% from RMB 215,694 in 2024[9]. - Net profit for the period increased by 34.1% to RMB 233,900 from RMB 174,459 in 2024[9]. - Adjusted net profit increased by 40.4% to RMB 251,366 from RMB 179,045 in 2024[9]. - Total profit for the period increased by 34.1% from RMB 174.5 million to RMB 233.9 million[43]. - Basic earnings per share increased to RMB 0.42 from RMB 0.33, reflecting a growth of 27.3%[104]. - Total comprehensive income for the six months ended June 30, 2025, was RMB 229,786 thousand, compared to RMB 175,631 thousand in 2024, marking a 30.9% increase[107]. - Cash generated from operating activities was RMB 656,094,000, up from RMB 402,165,000 in 2024, reflecting a growth of 63%[117]. - The net cash from operating activities after tax payments was RMB 629,934,000, compared to RMB 331,005,000 in the previous year, marking an increase of 90.2%[117]. Restaurant Operations - The total number of restaurants reached 502, covering 21 provinces, four municipalities, and two autonomous regions in mainland China, as well as Hong Kong[11][12]. - Restaurant operating revenue rose by 13.2% to RMB 1,757.9 million, driven by an increase in the number of restaurants[27]. - Total number of restaurants increased from 390 in 2024 to 502 in 2025, with significant growth in East China and Guangdong Province[16]. - Same-store sales decreased by 1.7% overall, with East China experiencing a decline of 1.9%[19][22]. - Average daily sales per restaurant decreased to RMB 20.0 from RMB 23.1, indicating a shift in consumer spending behavior[18]. - The company launched 305 new dishes during the reporting period, aligning with current dining trends[24]. Assets and Liabilities - Non-current assets increased by 3.4% to RMB 1,851,737 from RMB 1,791,283 as of December 31, 2024[9]. - Current assets surged by 162.9% to RMB 1,769,372 from RMB 673,062 as of December 31, 2024[9]. - Total assets rose by 46.9% to RMB 3,621,109 from RMB 2,464,345 as of December 31, 2024[9]. - Trade receivables increased by 10.7% from RMB 226 million as of December 31, 2024, to RMB 250 million as of June 30, 2025, due to the expansion of the restaurant network and delivery services[48]. - Trade payables rose by 29.1% from RMB 2,214 million as of December 31, 2024, to RMB 2,857 million as of June 30, 2025, driven by increased procurement needs from the expanded restaurant network and delivery services[50]. - Total liabilities rose from RMB 1,693.2 million to RMB 1,878.7 million during the same period[51]. Cash Flow and Investments - The company incurred a net cash outflow from investing activities of RMB 363,706,000, compared to RMB 31,338,000 in 2024, indicating a significant increase in investment expenditures[117]. - The company’s cash and cash equivalents increased by RMB 887,227,000 during the period, compared to a decrease of RMB 179,193,000 in the previous year[119]. - The company paid RMB 121,349,000 for lease liabilities during the financing activities, compared to RMB 102,232,000 in 2024, reflecting an increase of 18.7%[119]. Market Strategy and Expansion - The company focuses on expanding its market presence in key economic regions, including East China, Guangdong Province, and North China[12]. - The company aims to strengthen its market position through menu refinement, service quality enhancement, and supply chain optimization[25]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[104]. Shareholder Information - The board does not recommend an interim dividend for the six months ending June 30, 2025, consistent with the previous period[66]. - The company raised approximately HKD 732.12 million from its global offering, with only HKD 4 million utilized by June 30, 2025, representing 0.55% of the total[74]. - The planned use of the net proceeds includes expanding the restaurant network (63.3% or HKD 463.4 million), establishing a central food processing facility (26.3% or HKD 192.6 million), and upgrading IT systems (5.4% or HKD 39.5 million)[74]. - A special dividend of RMB 202,527,000 was approved for distribution to equity shareholders, equivalent to HKD 222,240,000[159]. Governance and Compliance - The company has adopted the standard code as the conduct guidelines for directors' securities trading, confirming compliance since the listing date[65]. - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited interim results for the six months ending June 30, 2025, ensuring compliance with applicable accounting standards[67]. - The company will continue to review the separation of the roles of Chairman and CEO, currently held by Mr. Wang, to ensure effective governance[64]. - The company is committed to adhering to the Hong Kong Securities and Futures Ordinance[173]. Employee and Operational Costs - Employee costs rose by 23.1% from RMB 480.3 million for the six months ended June 30, 2024, to RMB 591.1 million for the same period in 2025, maintaining a stable percentage of 25.8% of revenue[33]. - The company recognized share-based payment expenses of RMB 2,697,000 for the six months ended June 30, 2025, compared to RMB 3,100,000 for the same period in 2024[158].
绿茶集团(06831) - 2025 - 中期财报