Financial Performance - In Q3 of FY2024, the company recorded revenue of HKD 757,248,000, an increase of 43.6% compared to Q3 of FY2023[6] - For the nine months ending December 31, 2023, net profit increased by approximately HKD 22,482,000 or 45.4%, with profit attributable to owners rising by HKD 21,570,000 or 43.0%[17] - Adjusted for government subsidies, net profit increased by approximately HKD 39,093,000 or 118.7%, and profit attributable to owners increased by HKD 38,181,000 or 113.9%[17] - Revenue for the nine months ended December 31, 2023, was HKD 757,248 thousand, an increase of 43.5% compared to HKD 527,515 thousand for the same period in 2022[61] - Net profit for the nine months ended December 31, 2023, was HKD 72,015 thousand, representing a 45.3% increase from HKD 49,533 thousand in the previous year[61] - Total comprehensive income for the nine months ended December 31, 2023, was HKD 71,278 thousand, compared to HKD 48,202 thousand for the same period in 2022, marking a 47.9% increase[61] - The company reported a profit attributable to owners of the company of HKD 71,690,000 for the nine months ended December 31, 2023, compared to HKD 50,120,000 for the same period in 2022, representing a year-over-year increase of 42.9%[85] Customer Metrics - The total number of customers served in Q3 of FY2024 was 3,055,631, representing an increase of 836,261 customers or 37.7% from the same period in FY2023[3] - Average spending per customer rose from HKD 237.7 in Q3 of FY2023 to HKD 247.8 in Q3 of FY2024[3] Operational Expansion - The company opened new restaurants contributing to revenue growth, with significant operations starting in Q1 and Q2 of 2024[1] - The company opened 14 new restaurants during the nine months ended December 31, 2023, including locations in Tsim Sha Tsui, Causeway Bay, and Shanghai[54] - Total number of restaurants increased from 42 in March 2023 to 55 by December 2023, representing a growth of 30.95%[88] - The total number of restaurants in Hong Kong rose from 39 in March 2023 to 51 by December 2023, an increase of 30.77%[87] - The number of Japanese and Chinese cuisine restaurants combined grew from 22 and 13 in March 2023 to 30 and 17 by December 2023, reflecting a growth of 36.36% and 30.77% respectively[87] - The number of Southeast Asian cuisine restaurants increased from 4 in March 2023 to 6 by December 2023, a growth of 50%[87] - The company plans to continue expanding its restaurant portfolio, aiming for further growth in the upcoming fiscal year[88] Cost and Expense Management - Employee costs increased by approximately 42.7% in Q3 of FY2024 compared to Q3 of FY2023, primarily due to an increase in the number of restaurants[13] - Material and consumable costs rose by about 31.0% in Q3 of FY2024 compared to Q3 of FY2023, aligning with revenue growth[12] - Property rental and related expenses increased by approximately 32.9% in Q3 of FY2024, attributed to more restaurants being operational[15] - Depreciation of property, plant, and equipment increased by about 46.5% in Q3 of FY2024 compared to Q3 of FY2023, due to the opening of new restaurants[15] - Other expenses amounted to approximately HKD 37,814,000, an increase of HKD 28,706,000 or 31.7%, representing about 5.0% of revenue, slightly down from 5.4% in Q3 FY2023[16] - The company incurred finance costs of HKD 10,562 thousand for the nine months ended December 31, 2023, an increase of 35.8% from HKD 7,779 thousand in the previous year[61] - The company’s total expenses for the nine months ended December 31, 2023, were HKD 205,079 thousand, up from HKD 156,543 thousand in the previous year, reflecting a 30.9% increase[61] Governance and Compliance - The company has complied with the corporate governance code as per GEM listing rules during the nine months ended December 31, 2023[40] - The company has established an audit committee to review and monitor the financial reporting process and internal control procedures[42] - The company has not engaged in any business that constitutes or may constitute competition with its group business as of December 31, 2023[42] - The company has not purchased, sold, or redeemed any of its listed securities during the nine months ended December 31, 2023[39] Financial Position - As of December 31, 2023, the group had cash and cash equivalents of HKD 147,700,000, with no bank borrowings[19] - The group is in a net cash position, indicating no significant debt relative to equity[20] - As of December 31, 2023, there were no significant contingent liabilities reported by the group[21] - The group has outstanding capital commitments of approximately HKD 300,000 as of December 31, 2023[22] Shareholder Information - The company’s major shareholders, Mr. Huang and Ms. Chan, each hold approximately 68.74% of the shares[36] - The weighted average number of ordinary shares used for calculating basic earnings per share was 378,685,000 for the nine months ended December 31, 2023, compared to 385,364,000 for the same period in 2022, indicating a decrease in shares outstanding[85] - The company’s basic earnings per share are calculated based on the profit attributable to shareholders for the relevant period[52] - The company had a diluted earnings per share of HKD 23,927,000 for the three months ended December 31, 2023, compared to HKD 17,043,000 for the same period in 2022, reflecting a significant increase[85] Market Outlook - The company anticipates continued improvement in the Hong Kong market, driven by an increase in tourist arrivals[24] - The company aims to enhance food quality and provide top-notch service as key strategies for success[24] Accounting and Reporting - The company has applied new and revised Hong Kong Financial Reporting Standards during the reporting period, which did not have a significant impact on its financial performance[49] - The company has implemented new accounting policies in accordance with the Hong Kong Financial Reporting Standards, which may affect the presentation of financial results[81] - The company’s total comprehensive income for the period included other comprehensive income adjustments, which were not detailed in the summary[84] - The effective tax rate for the company's subsidiaries in China is 25%, which is consistent with the Corporate Income Tax Law of the People's Republic of China[83] Other Information - The company closed its restaurant in Hysan Place for renovations and plans to reopen two new restaurants in December 2023[55] - The financial report indicates that the company has a 40% stake in the 湘薈 brand, which is accounted for using the equity method in the financial statements[87]
尝高美集团(08371) - 2024 Q3 - 季度财报