Financial Performance - Jiumaojiu International Holdings Limited reported a significant increase in revenue, achieving HKD 1.2 billion for the first half of 2023, representing a 25% year-over-year growth[1]. - The company’s net profit for the same period was HKD 200 million, reflecting a 15% increase compared to the previous year[1]. - The company has set a revenue guidance of HKD 2.5 billion for the full year 2023, projecting a 20% growth[1]. - The company provided a positive outlook for the second half of 2023, expecting revenue growth to accelerate to 25%[8]. - Profit for the period increased by 281.4% from RMB 62.5 million for the six months ended June 30, 2022 to RMB 238.4 million for the same period in 2023[79]. - For the six months ended June 30, 2023, the adjusted net profit was RMB 247.9 million, a significant increase of 258.5% compared to RMB 69.1 million in the same period of 2022[88]. - Total comprehensive income for the period reached RMB 320,934,000, significantly up from RMB 15,061,000 in the same period last year[193]. - Basic earnings per share rose to RMB 0.15, compared to RMB 0.04 in the previous year, marking a 275% increase[191]. Customer Engagement and Market Expansion - User data showed a 30% increase in customer visits across all restaurant brands, indicating strong consumer demand[1]. - The company plans to expand its market presence by opening 15 new locations in key cities by the end of 2024[1]. - The company is expanding its market presence with plans to open 15 new locations in key cities by the end of 2023[10]. - The company aims to expand its market share and maintain its position as a leading Chinese cuisine restaurant brand manager and operator in the PRC[24]. - The company operates Tai Er restaurants in Canada, Singapore, and Malaysia, with plans for further international expansion targeting areas with high Chinese populations[48]. Operational Efficiency and Technology Investment - Jiumaojiu is investing HKD 50 million in new technology for enhancing customer experience and operational efficiency[1]. - The company is investing HKD 50 million in technology upgrades to improve operational efficiency and customer experience[12]. - The company is constructing new supply chain centers in Southern and Northern China to enhance supply chain capabilities[47]. - Plans are underway to identify a suitable location for an additional central kitchen in Eastern China to support regional restaurant expansion[47]. Product Development and Revenue Contribution - New product launches, including a premium menu line, are expected to contribute an additional HKD 100 million in revenue[1]. - New product launches are planned, including a premium dining experience expected to contribute an additional HKD 200 million in revenue[9]. - Revenue contribution from Tai Er, Song Hot Pot, and Lai Mei Li Grilled Fish increased by 47.4%, 331.2%, and 114.0%, respectively, in the first half of 2023[35]. Marketing Strategy - Jiumaojiu has implemented a new marketing strategy focusing on digital channels, aiming for a 40% increase in online orders[1]. - The company has initiated a new marketing strategy focusing on digital channels, aiming to increase brand awareness by 40%[14]. Shareholder Value and Financial Management - The board of directors has approved a share buyback program of up to HKD 100 million to enhance shareholder value[15]. - The company aims to ensure stable supply of key ingredients through partnerships with major suppliers[50]. - The company has set a timeline to fully utilize the remaining proceeds by the end of 2026 for investments in suppliers and general working capital[186]. Restaurant Network and Growth Metrics - The number of restaurants increased to 621 from 475, reflecting a growth of 30.8%[22]. - In the first half of 2023, the company opened 67 new restaurants, including 46 Tai Er, 16 Song Hot Pot, one Jiu Mao Jiu, and four Lai Mei Li Grilled Fish, bringing the total to 621 restaurants across 123 cities in the PRC and other countries[24][28][30]. - The seat turnover rate for Tai Er improved to 3.1 from 2.9, and for Song Hot Pot to 2.8 from 2.4[22]. Financial Position and Liabilities - Total assets increased from RMB5,407.1 million as of December 31, 2022 to RMB6,084.6 million as of June 30, 2023, while total liabilities rose from RMB2,207.9 million to RMB2,582.1 million[101]. - The liabilities-to-assets ratio increased from 40.8% to 42.4% during the same period[101]. - Cash and cash equivalents decreased by 15.6% from RMB1,098.9 million to RMB927.5 million, mainly due to increased fixed deposits and pledged deposits for bank loans[101]. Corporate Governance and Compliance - The Company has complied with all provisions of the Corporate Governance Code during the six months ended June 30, 2023, except for a deviation from code provision C.2.1[169]. - The Audit Committee consists of three independent non-executive Directors, with Mr. Deng Tao as Chairman, ensuring independent review of financial information and internal controls[171]. - All Directors confirmed strict compliance with the Model Code for securities transactions during the six months ended June 30, 2023[170]. Employee and Management Changes - The resignation of Mr. Li Zhuoguang as an executive director and CFO was effective from June 9, 2023[163]. - Mr. Li Zhuoguang resigned as an executive Director and chief financial officer on June 9, 2023, with Mr. Su Danman appointed to the role[172]. - As of June 30, 2023, the Group had a total of 11,107 employees and 9,752 outsourced personnel, primarily based in the PRC[123].
九毛九(09922) - 2023 - 中期财报