Financial Performance - The company's revenue for 2022 was RMB 1,429.8 million, a decrease of 28.4% compared to RMB 2,000.2 million in 2021[13] - Restaurant business sales dropped to RMB 1,339.6 million, down 28.8% from RMB 1,880.9 million in the previous year[13] - The company reported a net loss attributable to shareholders of RMB 143.9 million, compared to a profit of RMB 20.9 million in 2021[13] - The group's revenue for the period was approximately RMB 1,430 million, a decline of about 28.4% compared to RMB 1,996 million in the same period last year, primarily due to COVID-19 restrictions[24] - The group recorded a pre-tax loss of approximately RMB 176,765,000 for the year, compared to a profit of RMB 52,440,000 in 2021[44] - The attributable loss to shareholders was approximately RMB 143,906,000, compared to a profit of RMB 20,940,000 in 2021[47] - The cost of goods sold for the year was approximately RMB 374,833,000, down about 30.2% from RMB 537,336,000 in 2021, with the cost as a percentage of revenue at 26.2%, a slight decrease from 26.9% in the previous year[32] - Gross profit for the year was approximately RMB 1,054,959,000, a decrease of about 27.7% from RMB 1,458,873,000 in 2021, while the gross margin increased to 73.8% from 73.1%[33] Operational Metrics - The total number of restaurants decreased to 597, representing a 19.0% decline from 737 in 2021[13] - As of December 31, 2022, the group operated 597 restaurants, a decrease of 140 from 737 in 2021, with 161 closures due to various reasons including poor performance and contract expirations[17] - The average consumption per customer in the Hong Kong market reached a new high, while the cost of inventory consumption as a percentage of revenue was approximately 26.2%, a decrease of 0.7 percentage points year-on-year[24] - The group achieved a gross margin of 73.8%, up from 73.1% in the previous year, despite a revenue decline[24] - The proportion of labor costs to revenue was approximately 29.8%, an increase of 2.6 percentage points from 27.2% in the previous year, mainly due to underutilization of labor resources[24] Membership and Customer Engagement - Membership numbers reached 24.63 million, with total member spending amounting to RMB 735 million[16] - The company plans to enhance customer engagement through a new membership strategy that includes scenario-based, product-oriented, and social elements[16] Strategic Initiatives - The group aims to optimize its supply chain for international meat procurement in 2023, maintaining partnerships with large meat suppliers to control procurement costs[17] - The group has increased its direct procurement ratio to 72.42%, enhancing the quality and quantity of domestic and international suppliers[17] - The group plans to accelerate its restaurant expansion and optimize its network layout in 2023 as the restaurant industry continues to recover[18] - The group is focusing on digital transformation, enhancing its membership system and supply chain management to better capture market opportunities[22] Governance and Compliance - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with the standards set forth in the Listing Rules Appendix 10[68] - The board consists of seven members, including three independent non-executive directors, ensuring a strong level of independence[74] - The company has implemented a fair disclosure policy to broadly disseminate information to the public through various channels[72] - The board reviews its governance framework annually to ensure its effectiveness[80] - The company has not been involved in any legal cases related to corruption during the reporting period[71] Risk Management and Internal Controls - The company is committed to maintaining a robust risk management and internal control system to manage inherent business risks[122] - The board has delegated the Audit Committee to continuously monitor the effectiveness of the risk management and internal control systems, which include financial, operational, and compliance controls[122] - Management is responsible for identifying and mitigating risks that may impact the company's performance, with regular reviews and updates to the risk management system[128] Environmental, Social, and Governance (ESG) Initiatives - The company operates leading fast-casual restaurant chains in mainland China and Hong Kong, focusing on environmental, social, and governance (ESG) initiatives[151] - The group is committed to continuously improving its ESG performance and governance structure[160] - The company emitted 7,968.90 tons of CO2 equivalent greenhouse gases during the reporting period, with a greenhouse gas emission density of 10.28 tons per employee[171] - The total energy consumption of the company was 15,469.51 MWh, with an energy consumption density of 19.96 MWh per employee[177] - The company plans to regularly measure and disclose environmental performance to identify opportunities for improvement and gradually set environmental goals[168] Employee Management and Development - The company employs 6,542 staff members across its restaurant operations and related product sales, with a focus on fair employment practices[189] - The company emphasizes the importance of employee training and development to enhance skills and improve work efficiency, aligning training plans with business development needs[193] - The company has established a comprehensive compensation system to motivate employees, adjusting salaries and bonuses based on performance evaluations[185] - The company actively promotes equal opportunities and diversity in the workplace, opposing any form of discrimination[188]
味千(中国)(00538) - 2022 - 年度财报