Financial Performance - Revenue for the six months ended June 30, 2022, decreased by approximately 5.4% to HKD 400.0 million from HKD 422.9 million in the same period last year[12] - Profit attributable to shareholders for the same period dropped to HKD 6.8 million, down from HKD 25.6 million, representing a decline of approximately 73.5%[12] - The company reported a pre-tax profit of HKD 930,000, a significant decline of 96.8% compared to HKD 28,824,000 in the prior year[80] - The company reported a net loss of HKD 6,788,000 for the six months ended June 30, 2022, compared to a profit of HKD 25,638,000 for the same period in 2021[90] - Basic and diluted earnings per share were HKD 0.85, a decrease of 73.4% from HKD 3.20 in the previous year[80] Revenue Breakdown - Revenue from franchised brands accounted for approximately 73.4% of total revenue, slightly up from 71.9% in the previous year, despite a revenue decrease of about 3.4%[21] - Revenue from self-owned brands was HKD 103,658, while franchise brands generated HKD 293,696, and sales of ingredients and others contributed HKD 45,957, totaling HKD 443,311[111] Cost Management - Food and beverage costs decreased by approximately 3.3% to HKD 129.2 million, with the cost as a percentage of revenue increasing to approximately 32.3% from 31.6% in the previous year[27] - Employee costs decreased by approximately 3.5% to about HKD 131.0 million, accounting for approximately 32.7% of revenue[28] - The total cash outflow for leases during the period was approximately HKD 29,781,000, a significant decrease of 42.0% compared to HKD 51,336,000 in the same period last year[142] Government Support - Other income and gains increased by approximately 32.2% to HKD 20.2 million, primarily due to government subsidies rising to HKD 17.8 million from HKD 9.7 million in the previous year[26] - The group received government subsidies totaling HKD 17,766 in the first half of 2022, an increase from HKD 9,727 in the same period of 2021[118] Business Expansion - The number of self-owned brands increased from 14 to 16, while franchised brands rose from 26 to 34, resulting in a total of 50 restaurants operated as of June 30, 2022, compared to 40 in the previous year[17] - The group opened five new restaurants in the first half of 2022, including two franchise tea shops from Japan and a new Taiwanese hot pot brand, which received positive customer feedback[52] - The company plans to leverage its diverse brand portfolio to capture a wider market segment, targeting both mid-to-high-end and mass-market customers[14] Future Outlook - The group expects consumer sentiment to improve in the second half of the year, driving revenue growth[49] - The company remains optimistic about its financial performance in the second half of 2022, assuming no tightening of local social distancing measures[52] - The group anticipates significant business growth opportunities due to local consumption voucher plans and high vaccination rates[48] Financial Position - Cash and cash equivalents were approximately HKD 201.2 million, down from HKD 241.9 million at the end of the previous year[33] - Total assets as of June 30, 2022, were HKD 778,853,000, a slight decrease from HKD 783,859,000 as of December 31, 2021[84] - Total liabilities increased to HKD 440,268,000 as of June 30, 2022, from HKD 403,662,000 as of December 31, 2021, indicating a rise of approximately 9%[87] Corporate Governance - The company has adopted the corporate governance code and believes it has complied with most of its best practices during the reporting period[58] - The audit committee, composed of three independent non-executive directors, reviewed the group's financial reporting and internal control systems[63] Shareholder Information - The board decided not to declare any interim dividends for the period[56] - As of June 30, 2022, the major shareholders, including Mr. Huang and Ms. Gao, collectively hold 75% of the company's shares[68] - The company maintained a sufficient public float of at least 25% of its issued shares during the reporting period[57]
叙福楼集团(01978) - 2022 - 中期财报