Financial Performance - The group recorded a profit before tax of approximately RMB 181,256,000 for the six months ended June 30, 2023, compared to a loss of approximately RMB 136,066,000 for the same period in 2022[3]. - The profit attributable to shareholders for the six months ended June 30, 2023, was approximately RMB 133,095,000, compared to a loss of approximately RMB 106,513,000 for the same period in 2022[4]. - Operating profit improved to RMB 65,251,000, compared to an operating loss of RMB 99,587,000 in the prior year[46]. - The company reported a net profit attributable to shareholders of RMB 133,095,000, a significant recovery from a loss of RMB 106,513,000 in the same period last year[46]. - The company reported a profit of RMB 139,596,000 for the period, compared to a loss in the previous year, indicating a strong performance[90]. - The company experienced a pre-tax loss of RMB 136,066,000 for the current period, compared to a pre-tax loss of RMB 114,352,000 in the same period last year, indicating a deterioration in financial performance[115]. - The company's net loss for the period was RMB 120,361,000, compared to a net loss of RMB 106,513,000 in the previous year, reflecting a worsening trend in profitability[127]. - The company reported a fair value gain on investment properties of RMB 37,070,000 for the current period, a substantial increase from RMB 5,630,000 in the previous year, highlighting improved asset performance[122]. - The company reported interest income of RMB 15,019,000 for the current period, up from RMB 6,807,000 in the previous period, reflecting an increase of approximately 120%[95]. Revenue and Sales - The group's revenue for the six months ended June 30, 2023, was approximately RMB 884,847,000, an increase of about 30.6% from RMB 677,469,000 in the same period of 2022[19]. - Restaurant business sales reached RMB 842,594,000, up 34.1% from RMB 628,250,000 year-over-year[46]. - Total revenue for the six months ended June 30, 2023, was RMB 884,847,000, an increase from RMB 677,469,000 in the same period of 2022, representing a growth of approximately 30.6%[94]. - The restaurant business generated approximately RMB 842,594,000 in revenue during the period, representing a 34.1% increase compared to RMB 628,250,000 in the same period last year, and accounted for about 95.2% of total revenue[156]. Costs and Expenses - For the six months ended June 30, 2023, the financing cost was approximately RMB 9,570,000, a decrease of about 24.7% compared to RMB 12,715,000 for the same period in 2022[1][2]. - The cost of inventory for the six months ended June 30, 2023, was approximately RMB 219,895,000, an increase of about 21.4% from RMB 181,140,000 in the same period of 2022[20]. - Employee costs for the six months ended June 30, 2023, were approximately RMB 227,664,000, an increase of about 7.9% from RMB 211,016,000 in the same period of 2022[23]. - Cost of goods sold was RMB 219,895,000, up from RMB 181,140,000, reflecting a 21.4% increase year-over-year[166]. - The total depreciation expense for the period was RMB 160,333,000, down from RMB 187,855,000 in the previous year, indicating a reduction in asset-related costs[122]. Assets and Liabilities - The company's current assets net amount was approximately RMB 1,274,218,000, with a current ratio of 3.3, slightly up from 3.2 at the end of 2022[41]. - Total assets minus current liabilities increased to RMB 3,422,874 thousand as of June 30, 2023, compared to RMB 3,332,363 thousand as of December 31, 2022, reflecting a growth of approximately 2.7%[57]. - Cash and cash equivalents rose to RMB 1,578,250 thousand as of June 30, 2023, up from RMB 1,465,111 thousand as of December 31, 2022, indicating an increase of about 7.7%[56]. - The total equity attributable to shareholders reached RMB 2,966,327 thousand as of June 30, 2023, compared to RMB 2,874,715 thousand as of December 31, 2022, marking an increase of approximately 3.2%[78]. - The total liabilities decreased to RMB 548,004 thousand as of June 30, 2023, from RMB 536,221 thousand as of December 31, 2022, indicating a reduction of about 2.0%[56]. - The company's total liabilities decreased to RMB 154,372,000 as of June 30, 2023, compared to RMB 154,599,000 as of December 31, 2022[106]. Operational Insights - The group had no significant contingent liabilities as of June 30, 2023[9]. - The total number of restaurants as of June 30, 2023, was 569, down from 669 in the previous year[46]. - The group employed 7,746 staff as of June 30, 2023, a decrease from 7,982 staff a year earlier, indicating ongoing optimization of operational processes[141]. - The group is focused on cost control amid rising inflation pressures on food and labor, with efforts to stabilize supply chain and optimize supplier relationships[135]. - The group continues to adopt a prudent operational and store opening strategy to improve overall profitability post-pandemic[153]. - The group is committed to maintaining food quality and safety standards while adjusting operational strategies to enhance competitiveness[136]. - The group has established five production bases in mainland China to ensure food quality, safety, and stable supply for its restaurants[135]. Future Outlook - The company plans to accelerate digital transformation of its stores to enhance customer experience and operational efficiency in the second half of 2023[152]. - The economic recovery in China is reflected in a GDP growth of 5.5% for the period, compared to 2.5% in the previous year, which may positively impact the company's performance[132]. - The estimated annual tax rates for Hong Kong and mainland China remain at 16.5% and 25%, respectively, consistent with the previous year, which may affect future profitability[124]. Other Information - The company did not declare an interim dividend for the six months ended June 30, 2023, compared to zero dividend in the same period of 2022[163]. - The company has not engaged in any purchase, sale, or redemption of its listed securities during the six months ended June 30, 2023[167]. - The company plans to distribute its interim report to all shareholders and publish it on its website and the Hong Kong Stock Exchange[164].
味千(中国)(00538) - 2023 - 中期业绩