Financial Performance - The company's revenue for the six months ended June 30, 2022, was RMB 145.1 million, a decrease of RMB 241.1 million or 62.4% compared to RMB 386.2 million in the same period last year[19]. - Gross profit for the same period was RMB 97.4 million, down approximately RMB 159.2 million or 62.0% from RMB 256.6 million year-on-year[19]. - The net loss attributable to owners of the parent company was approximately RMB 70.8 million, an increase of RMB 65.0 million compared to the previous year's loss[19]. - Restaurant business revenue decreased by RMB 240.0 million to RMB 137.1 million, a decline of 64.0% compared to RMB 377.1 million in the same period last year[20]. - Comparable restaurant sales decreased by RMB 171.0 million for the six months ended June 30, 2022[20]. - The net loss for the six months ended June 30, 2022, increased to RMB 68.5 million from RMB 5.4 million in the same period of 2021, with a net loss margin rising to 47.2%[32]. - The company reported a significant increase in inventory, which decreased by RMB 504 thousand compared to a decrease of RMB 2,178 thousand in the previous year[66]. - The company experienced a net loss of RMB 70,773 thousand for the period, compared to a net loss of RMB 68,488 thousand in the previous year, indicating a worsening of approximately 2%[59]. Operational Metrics - The number of restaurants operated as of June 30, 2022, was 45, down from 52 in the previous year[9]. - New restaurant openings contributed an increase of RMB 8.1 million to revenue during the same period[20]. - Employee costs amounted to RMB 68.2 million, representing 47% of total revenue, compared to RMB 115.1 million in the previous year[47]. - The company has implemented a series of reforms to streamline operations, improve product and service quality, and reduce costs in response to the challenges posed by the pandemic[49]. - The company is actively negotiating rent reductions for affected restaurants to mitigate the impact of the pandemic[49]. Cash Flow and Financing - The net cash inflow from operating activities for the six months ended June 30, 2022, was RMB 37.3 million, down from RMB 64.0 million in the same period of 2021[36]. - The company reported a decrease in cash and bank balances to RMB 53,943 thousand from RMB 91,920 thousand, reflecting a significant liquidity contraction[68]. - The net cash flow from financing activities decreased to RMB (56,727) thousand, compared to RMB (85,455) thousand in the previous year, indicating a reduction of approximately 33.6%[68]. - New bank loan proceeds amounted to RMB 13,364 thousand, a decrease of 52.0% from RMB 27,922 thousand in the previous year[68]. - The company repaid bank loans totaling RMB (17,546) thousand, which is a reduction of 59.3% compared to RMB (43,107) thousand in the prior year[68]. Assets and Liabilities - Non-current assets decreased to RMB 293.23 million as of June 30, 2022, from RMB 328.15 million at the end of 2021[55]. - Current assets decreased to RMB 135.56 million as of June 30, 2022, compared to RMB 202.62 million at the end of 2021[55]. - The total liabilities as of June 30, 2022, were RMB 308.80 million, slightly up from RMB 302.84 million at the end of 2021[55]. - The company's financial liabilities totaled RMB 428,313,000, with trade payables at RMB 45,257,000 and lease liabilities at RMB 230,678,000[150]. Share Capital and Options - The total issued shares of the company were 2,213,031,000 as of June 30, 2022[172]. - The company has a share reward plan approved on November 25, 2021, aimed at retaining and attracting talent, valid for five years[138]. - The company has a share incentive plan that was revised on November 25, 2021, granting shares to directors[170]. - The stock option plan allows for a maximum issuance of 147,500,000 shares, representing 10% of the total shares issued at the time of the IPO[187]. - The company has not identified any contracts as loss-making prior to the application of the revised accounting standards, indicating a stable contract performance[76]. Governance and Compliance - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange during the six-month period ending June 30, 2022[193]. - The audit committee, which includes Mr. Lei Wei Ming as chairman, has reviewed the unaudited interim consolidated financial statements for the six months ending June 30, 2022[198]. - The company has confirmed compliance with applicable code provisions of the corporate governance code during the reporting period[193].
上海小南国(03666) - 2022 - 中期财报