Revenue and Growth - Revenue for the six months ended June 30, 2025, increased by approximately 3.4% to HKD 540.5 million from HKD 522.6 million in the same period last year[7] - Franchise brand revenue grew by approximately 3.1% to HKD 396.4 million, accounting for about 73.4% of total revenue[11] - Self-operated brand revenue increased by approximately 5.4% to HKD 143.4 million, representing 26.5% of total revenue[13] - Total revenue for the six months ended June 30, 2025, was HKD 540,460,000, an increase from HKD 522,610,000 in the same period of 2024, representing a growth of approximately 3.6%[51] - Restaurant operations generated revenue of HKD 539,793,000, up from HKD 520,666,000, reflecting a growth of 3.9%[64] Cost Management - Food and beverage costs decreased by approximately 3.6% to HKD 156.5 million, with the cost percentage of revenue dropping to 29.0% from 31.1%[16] - Employee costs reduced by approximately 0.9% to HKD 192.6 million, with the cost percentage of revenue decreasing to 35.6% from 37.2%[17] - The company’s employee costs slightly decreased to HKD 192,620,000 from HKD 194,463,000, reflecting a reduction of about 1.0%[51] Financial Performance - The loss attributable to equity holders decreased by approximately 97.6% from HKD 26.5 million to HKD 0.6 million, primarily due to active transformation and restructuring measures[19] - The company reported a pre-tax loss of HKD 2,815,000 for the six months ended June 30, 2025, significantly improved from a loss of HKD 32,069,000 in the same period of 2024[51] - The basic and diluted loss per share for the six months ended June 30, 2025, was HKD 0.08, compared to HKD 3.32 in the same period of 2024, showing a significant reduction in losses per share[51] - The company recorded a net loss of HKD 647,000 for the six months ended June 30, 2025, compared to a loss of HKD 26,535,000 for the same period in 2024[54] Assets and Liabilities - The total assets as of June 30, 2025, amounted to HKD 684,201,000, down from HKD 786,006,000 as of December 31, 2024, indicating a decrease of approximately 13.0%[52] - Total liabilities decreased to HKD 451,943,000 as of June 30, 2025, from HKD 553,141,000 as of December 31, 2024[53] - Current liabilities exceeded current assets by HKD 54,498,000 as of June 30, 2025[58] - The company did not incur any external borrowings as of June 30, 2025[58] Cash Flow and Liquidity - Cash and cash equivalents as of June 30, 2025, were approximately HKD 100.3 million, down from HKD 144.8 million as of December 31, 2024[21] - Operating cash flow for the six months ended June 30, 2025, was HKD 50,015,000, compared to HKD 60,011,000 for the same period in 2024[55] - The company plans to maintain sufficient working capital to meet its financial obligations over the next twelve months[58] Governance and Compliance - The company has adopted the corporate governance code as per the listing rules, ensuring compliance in all significant aspects except for the separation of the roles of Chairman and CEO, which are held by the same individual[37] - The board consists of two executive directors and three independent non-executive directors, maintaining a high level of independence[38] - The audit committee, composed of three independent non-executive directors, has reviewed the company's financial reporting procedures and internal controls[42] - The company confirmed compliance with the standard code for securities trading by all directors during the reporting period[39] Store Operations and Strategy - The number of self-operated restaurants increased to 20 from 14 year-on-year, while the total number of restaurants rose to 64 from 58[10] - The group has actively closed underperforming stores while flexibly opening new potential locations, laying a solid foundation for long-term healthy development[33] - The management is focused on optimizing store portfolio and enhancing customer experience to adapt to changing market dynamics[11] Technology and Innovation - The group continues to embrace new technologies, enhancing operational efficiency through the application of artificial intelligence and automation[34] Dividends - The board decided not to declare an interim dividend for the period, consistent with the previous year[35] - The company did not recommend an interim dividend for the six months ended June 30, 2025, compared to no interim dividend declared for the same period in 2024[82] Impairment and Depreciation - The company identified impairment indicators for several restaurant locations, leading to recorded losses and estimated recoverable amounts for property, plant, and equipment[89] - Depreciation of right-of-use assets for the six months ended June 30, 2025, was HKD 57,353,000, slightly lower than HKD 59,211,000 in 2024[74] - The carrying amount of right-of-use assets for restaurants decreased to HKD 244,881,000 as of June 30, 2025, down from HKD 288,820,000 at the end of 2024, reflecting asset depreciation[84]
叙福楼集团(01978) - 2025 - 中期财报