Restaurant Operations - The company opened six new restaurants during the six months ending September 30, 2025, increasing the total number of restaurants from 66 to 71[7]. - The total number of restaurants in Hong Kong increased from 60 to 65, with the addition of new brands such as 悅見 and 金龍[7]. - The company decided to close the Tirpse restaurant in Tsim Sha Tsui due to poor performance and will not renew leases for Same Same and 十里湘薈 in Shanghai[10]. - The total number of restaurants in mainland China remained stable at 6, with a slight reduction in the number of locations for 十里湘薈 and Same Same[7]. - The company aims to open new restaurants in the fourth quarter of 2025, including locations in 大圍圍方 and 荃灣如心廣場[8]. - The company has confirmed new lease agreements for additional restaurants, including two new locations for the QUE brand in Kowloon Bay[8]. - The company is developing a new ramen brand, Kumo Soba, as part of its expansion strategy[8]. - The company plans to continue exploring new locations in Hong Kong and mainland China for business expansion, in addition to existing lease agreements[26]. Financial Performance - For the first half of the fiscal year 2026, the company recorded a total revenue of HKD 655,620,000, representing an increase of 11.8% compared to the same period in fiscal year 2025[13]. - The total number of customers served across restaurants reached 2,891,820, an increase of 356,643 customers or 14.1% compared to the first half of fiscal year 2025[12]. - Average spending per customer decreased from HKD 231.2 in the first half of fiscal year 2025 to HKD 226.7 in the first half of fiscal year 2026, primarily due to the increase in lower-spending new restaurants[14]. - Net profit for the first half of fiscal year 2026 was approximately HKD 53,085,000, an increase of HKD 8,057,000 or 17.9% compared to the same period in fiscal year 2025[18]. - Revenue for the six months ended September 30, 2025, was HKD 655,620,000, representing a 11.8% increase from HKD 586,177,000 in the same period of 2024[52]. - Net profit for the period was HKD 53,085,000, up 17.8% from HKD 45,028,000 year-over-year[52]. - Basic earnings per share increased to HKD 14.0 from HKD 12.1, reflecting a 15.7% growth[53]. - Total comprehensive income for the period was HKD 53,432,000, compared to HKD 45,572,000 in the previous year, marking a 17.5% increase[53]. Expenses and Costs - Employee costs increased by approximately 10.7% to HKD 202,840,000, maintaining a stable percentage of 30.9% of total revenue[15][16]. - Property rental and related expenses grew by about 22.7% to HKD 35,764,000, reflecting the operation of more restaurants in the first half of fiscal year 2026[16]. - The company's tax expense for the six months ended September 30, 2025, was HKD 9,766,000, up 16.6% from HKD 8,378,000 in 2024[69]. Cash and Financial Position - The company had no bank borrowings as of September 30, 2025, with cash and cash equivalents amounting to HKD 242,400,000[19]. - The company maintained a net cash position, indicating no significant debt relative to equity[20]. - Cash and cash equivalents rose to HKD 242,436,000 from HKD 190,888,000, indicating a 27.0% increase[54]. - The company has no external borrowings and believes it has sufficient financial resources to meet its financial obligations for the next twelve months[60]. Shareholder Information - The board declared an interim cash dividend of HKD 0.080 per share for the six months ending September 30, 2025, compared to HKD 0.060 per share for the same period in the previous fiscal year, totaling approximately HKD 30,472,000[24]. - The company's dividend policy is to distribute no less than 50% of the profit attributable to shareholders[25]. - The expected cash dividend checks will be mailed to shareholders around December 22, 2025, with the risk of postal delays borne by the shareholders[24]. - As of September 30, 2025, Mr. Wong and Ms. Chan each hold 68.34% of the company's shares through controlled corporations[27]. - The total number of unexercised share options for Mr. Yu as of September 30, 2025, is 105,000 shares, representing approximately 0.03% of the total share capital[29]. Corporate Governance - The company has complied with the corporate governance code as per GEM Listing Rules Appendix 15 during the six months ended September 30, 2025[43]. - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2025[46]. - The audit report concluded that there were no significant issues found in the financial statements prepared in accordance with Hong Kong Accounting Standards[50]. - The company has adopted written guidelines regarding securities trading by directors, confirming compliance with the required standards during the period[45]. Market Conditions and Future Outlook - Future revenue is expected to fluctuate significantly due to global economic uncertainties, with notable earnings during peak seasons but lower-than-expected earnings in off-peak periods[26]. - The company emphasizes that providing value for money is key to its success, ensuring that dining experiences meet customer expectations[26].
尝高美集团(08371) - 2026 - 中期财报