Financial Performance - For the fiscal year ending December 31, 2025, the total revenue of Best Food Holding Company Limited was RMB 399.16 million, a decrease of 15.8% compared to RMB 474.21 million in 2024[3]. - The adjusted profit for the year was RMB 17.16 million, a significant improvement from a loss of RMB 76.51 million in the previous year[3]. - The total system sales, including all brands under the group and its joint ventures, reached RMB 3,740 million, representing a 7% increase compared to the previous year[5]. - Restaurant operating revenue decreased by 41.0% from RMB 213.2 million in 2024 to RMB 125.7 million in 2025, primarily due to intense market competition and strategic transformation[9]. - The revenue from the takeaway business increased by 3.7%, rising from RMB 168.6 million in 2024 to RMB 174.9 million in 2025, driven by heightened consumer demand[9]. - The company reported a pre-tax loss of RMB 397,000 for the year ended December 31, 2025, compared to a pre-tax loss of RMB 265.77 million in 2024[37]. - The total comprehensive income for the year ended December 31, 2025, was RMB 2,772,000, compared to a loss of RMB 265,634,000 in 2024[38]. - The loss attributable to equity holders of the company for 2025 was RMB 5,246,000, a significant improvement from a loss of RMB 241,826,000 in 2024[38]. - The basic and diluted loss per share for the year ended December 31, 2025, was RMB (0.33), a significant improvement from RMB (15.32) in 2024[70]. Cost Management - Employee benefits expenses decreased by 25.3% from RMB 144.1 million in 2024 to RMB 107.7 million in 2025, reflecting effective cost control measures[12]. - The percentage of revenue attributed to employee benefits expenses fell from 30.4% in 2024 to 27.0% in 2025[12]. - The cost of raw materials and consumables decreased by 9.8% from RMB 199.3 million in 2024 to RMB 179.7 million in 2025, correlating with the decline in sales[10]. - Online platform service fees and delivery costs decreased by 4.8% from RMB 33.6 million in 2024 to RMB 32.0 million in 2025[11]. - Other expenses decreased from RMB 51.5 million for the year ended December 31, 2024, to RMB 31.8 million for the same period in 2025, a reduction of 38.3%[16]. Asset and Liability Management - Non-current assets decreased to RMB 619,909,000 in 2025 from RMB 648,936,000 in 2024, primarily due to a reduction in property, plant, and equipment[39]. - Current assets increased to RMB 177,290,000 in 2025 from RMB 152,746,000 in 2024, with cash and cash equivalents rising to RMB 41,373,000 from RMB 21,325,000[39]. - Total liabilities decreased to RMB 949,746,000 in 2025 from RMB 1,021,859,000 in 2024, largely due to the reclassification of convertible bonds to non-current liabilities[40]. - The company reported a significant reduction in current liabilities, which decreased by RMB 656,802,000 to RMB 240,878,000 in 2025[40]. - The equity attributable to equity holders of the company improved to RMB (178,035,000) in 2025 from RMB (249,626,000) in 2024[40]. - The total amount of convertible bonds and related interest as of December 31, 2025, was RMB 608.8 million, a decrease of RMB 39.0 million from RMB 647.8 million in 2024[34]. - Lease liabilities decreased by 28.6% from RMB 103.8 million in 2024 to RMB 74.1 million in 2025, primarily due to rental payments and restaurant closures[35]. Strategic Initiatives - The company plans to optimize its strategic focus on fresh ingredients and enhance its brand image to adapt to changing consumer preferences in the competitive market[6]. - The company plans to strengthen brand operations and enhance profitability while exploring new business opportunities through its "Shen Dian Bao" initiative[36]. - The company aims to create a new ecosystem platform around the restaurant industry to drive long-term growth and shareholder value[36]. - The company has expanded its store network to over 500 locations globally, focusing on first-tier and new first-tier cities, with plans to penetrate second and third-tier cities and markets in Hong Kong and Singapore by December 31, 2025[104]. Accounting and Reporting - The company expects the adoption of Hong Kong Financial Reporting Standard No. 18 to significantly impact the presentation and disclosure of its consolidated financial statements starting January 1, 2027[51]. - Interest income will be classified under investing activities and interest expenses under financing activities in the cash flow statement from January 1, 2027[52]. - The company is currently assessing the impact of new accounting standards on its consolidated financial statements, particularly regarding the classification of revenue and expenses[51]. - The company anticipates that the adjusted profit and loss figures will align with the operational performance indicators defined by management[51]. Employee and Governance - The workforce consists of approximately 1,128 employees as of December 31, 2025, down from about 1,582 in 2024[113]. - The company has complied with the corporate governance code throughout the fiscal year ending December 31, 2025[116]. - The annual report for the fiscal year ending December 31, 2025, will be published on the Hong Kong Stock Exchange and the company's website at an appropriate time[120].
百福控股(01488) - 2025 - 年度业绩