Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 709,992 thousand, a decrease of 19% compared to RMB 873,612 thousand for the same period in 2022[2]. - Profit before tax for the same period was RMB 132,549 thousand, compared to a loss of RMB 324,649 thousand in the previous year[2]. - Net profit attributable to owners for the six months ended June 30, 2023, was RMB 157,487 thousand, recovering from a loss of RMB 304,144 thousand in 2022[2]. - Adjusted net profit for the period was RMB 177,203 thousand, compared to a loss of RMB 99,936 thousand in the previous year[2]. - Total revenue decreased by 18.7% to RMB 710.0 million in the first half of 2023, down from RMB 873.6 million in the same period of 2022[14]. - Adjusted net profit for the first half of 2023 was RMB 177.2 million, with an adjusted net profit margin of 25.0%, compared to a net loss of RMB 99.9 million in the first half of 2022[14]. - The profit before tax improved from a loss of RMB 324.6 million for the six months ended June 30, 2022, to a profit of RMB 132.5 million for the six months ended June 30, 2023, with corresponding profit margins of (37.2)% and 18.7% respectively[32]. - The company reported a comprehensive income of RMB 175,561 thousand for the period, compared to a comprehensive loss of RMB 241,312 thousand in the same period last year[54]. Assets and Liabilities - Total assets as of June 30, 2023, were RMB 2,488,644 thousand, down from RMB 2,676,768 thousand as of December 31, 2022[4]. - Non-current assets as of June 30, 2023, were RMB 939,207 thousand, significantly down from RMB 1,286,524 thousand as of December 31, 2022[4]. - Total liabilities decreased to RMB 490,215 thousand from RMB 853,900 thousand, reflecting a significant reduction in lease liabilities[56]. - The total property, plant, and equipment decreased from RMB 693.3 million as of December 31, 2022, to RMB 515.6 million as of June 30, 2023, mainly due to the closure of several taverns[37]. - The right-of-use assets decreased from RMB 457.0 million as of December 31, 2022, to RMB 268.1 million as of June 30, 2023, due to strategic optimization and adjustments in taverns[39]. - Lease liabilities decreased from RMB 741.0 million as of December 31, 2022, to RMB 398.1 million as of June 30, 2023, due to strategic optimization and closure of several taverns[43]. Tavern Operations - The number of taverns decreased to 562 as of August 25, 2023, from 846 a year earlier, with a notable reduction in first and second-tier cities[5]. - Average daily revenue per tavern increased to RMB 8.2 thousand for the six months ended June 30, 2023, up 13.9% from RMB 7.2 thousand in the same period of 2022[9]. - New taverns opened in the first half of 2023 achieved an average daily revenue of RMB 8.2 thousand, a 30.2% increase from RMB 6.3 thousand for new taverns opened in 2022[9]. - Same-store sales for Helen's Tavern increased by 9.1% year-on-year, reaching RMB 379,379.56 thousand in the first half of 2023[12]. - The number of taverns decreased from 846 to 653, with 25 new openings and 139 closures in the first half of 2023[14]. Cost Management - The cost of raw materials and consumables decreased by 33.8% to RMB 196.6 million in the first half of 2023, down from RMB 297.1 million in the same period of 2022[20]. - Employee benefits and human resources expenses fell by 55.4% to RMB 169.5 million in the first half of 2023, down from RMB 380.0 million in the same period of 2022[21]. - Advertising and promotion expenses decreased by 74.7% from RMB 16.6 million for the six months ended June 30, 2022, to RMB 4.2 million for the six months ended June 30, 2023, mainly due to refined management of online promotions[27]. - Other expenses decreased by 26.9% from RMB 72.5 million for the six months ended June 30, 2022, to RMB 53.0 million for the six months ended June 30, 2023, primarily due to the reduction in the number of taverns[28]. Cash Flow and Financing - Cash and cash equivalents increased from RMB 1,298.6 million as of December 31, 2022, to RMB 1,449.9 million as of June 30, 2023, mainly due to net cash inflow from operating activities[42]. - Operating cash flow for the six months ended June 30, 2023, was RMB 217,576 thousand, compared to RMB 70,646 thousand for the same period in 2022, representing a significant increase of 208%[59]. - Net cash from operating activities increased to RMB 215,846 thousand from RMB 56,817 thousand year-on-year, indicating a growth of 280%[59]. - The net cash used in investing activities improved to RMB 10,175 thousand from a net cash outflow of RMB 219,005 thousand in the previous year[59]. - Financing activities resulted in a net cash outflow of RMB 113,758 thousand, an improvement from RMB 185,565 thousand in the same period of 2022[59]. Strategic Initiatives - The "Hi Beer Partner" initiative was launched in June 2023, aiming to enhance store experience and operational efficiency[9]. - The company plans to focus on market expansion and new product development to drive future growth[54]. - The company plans to continue using income generated from tavern operations for working capital, while potentially seeking additional funding through equity or debt financing in the future[46]. Shareholder Information - The proposed interim dividend is RMB 0.1162 per share, compared to no dividend in the same period of 2022[78]. - The record date for shareholders entitled to receive the proposed interim dividend is September 15, 2023, with share transfer documents due by September 20, 2023[108]. - The board proposed an interim dividend of RMB 0.1162 per share, totaling approximately RMB 147 million based on the current issued share capital of 1,266,901,524 shares[105].
海伦司(09869) - 2023 - 中期业绩