Financial Performance - Revenue for the six months ended June 30, 2023, reached RMB 8,898.8 million, a 38.7% increase from RMB 6,416.5 million in the same period of 2022[2]. - Adjusted EBITDA for the same period increased to RMB 2,299.7 million, up from RMB 1,195.1 million, representing a growth of 92.6%[3]. - Profit attributable to shareholders for the first half of 2023 was RMB 471.8 million, compared to a loss of RMB 196.6 million in the first half of 2022[2]. - Operating profit for the first half of 2023 was RMB 1,352.4 million, a significant increase from RMB 286.6 million in the same period last year[45]. - The company reported a net profit for the period of RMB 490.3 million, compared to a net loss of RMB 208.4 million in the same period of 2022[63]. - Adjusted net profit for the first half of 2023 was RMB 513.2 million, compared to a loss of RMB 193.8 million in the same period last year[53]. - Gross profit rose by 62.5% to RMB 3,076.6 million, with a gross margin improvement from 29.5% to 34.6%[41]. - The company reported a cash and cash equivalents balance of RMB 3,020 million at the end of the period[55]. Revenue Segments - Club Med's revenue for the first half of 2023 was RMB 7,938.8 million, a 32.2% increase compared to RMB 6,003.1 million in the same period of 2022[4]. - Revenue from the tourism operations segment increased by 29.0% year-on-year, from RMB 7,352.3 million to RMB 9,488.0 million[3]. - Revenue from tourism operations and other services reached RMB 8,486,668 thousand, up from RMB 6,143,437 thousand, indicating a growth of 38.1% year-over-year[75]. - The Sanya Atlantis segment reported revenue of RMB 937,461 thousand and an operating profit of RMB 346,769 thousand[72]. - Revenue from the resort asset management center increased by 66.8% to RMB 358.4 million due to property sales and construction services[38]. Customer Metrics - Customer numbers reached 766 thousand in the first half of 2023, a 28.3% increase from 597 thousand in 2022[10]. - The average occupancy rate for Club Med globally was approximately 62.4%, an increase of 3.3 percentage points compared to the same period in 2022[5]. - The average daily room rate for Club Med was RMB 1,753.3, reflecting a year-on-year increase of approximately 10.6%[5]. - The average daily room rate for Sanya Atlantis in the first half of 2023 was RMB 2,408.3, with an average occupancy rate of 86.2%, an increase of 40.1 percentage points year-on-year[18]. Business Strategy and Operations - The company strategically exited certain businesses, including the sale of Casa Cook and Cook's Club brands, to focus on core operations[3]. - The company restructured its business segments into four main areas: Club Med and others, Sanya Atlantis, Vacation Asset Management Center, and Revisit and Related Businesses[3]. - The company is focusing on upgrading resorts as a core strategy, with significant investments planned for renovations and expansions in 2023 and 2024[13]. - Club Med plans to open 4 new resorts in the second half of 2023, including locations in China and Japan[16]. - By the end of 2025, Club Med aims to increase its overall capacity by 20% or more compared to 2022, including new openings and renovations[16]. Capital Expenditures and Investments - As of June 30, 2023, the capital expenditure for resort operations was approximately RMB 330.7 million, representing a 30.5% increase compared to the same period in 2022 and a 7.0% increase compared to 2019[16]. - Capital expenditures increased from RMB 587.5 million in the first half of 2022 to RMB 746.1 million in the first half of 2023, mainly for the development of new resorts and upgrades of existing ones[54]. - The total development cost for the Taicang Alps International Resort is expected to be approximately RMB 13.2 billion, with a total construction area of about 1,286,000 square meters[22]. Market Performance - The Americas region saw a revenue increase of 35.4% compared to 2022 and 64.6% compared to 2019[11]. - The Asia-Pacific region's revenue grew by 247.0% compared to 2022, although it was 92.7% of the 2019 level[13]. - France remained the largest market, contributing RMB 2,713.9 million in revenue, accounting for 34.2% of total revenue, with an 11.2% increase from 2022[14]. Financial Position and Liabilities - Total debt, including interest-bearing bank and other borrowings, amounted to RMB 12,240.5 million as of June 30, 2023, compared to RMB 11,961.9 million as of December 31, 2022[58]. - The debt balance increased by RMB 2,404.9 million as of June 30, 2023, compared to the balance as of June 30, 2022[48]. - The company's total assets increased from RMB 37,930.0 million as of December 31, 2022, to RMB 39,146.9 million as of June 30, 2023[59]. - Total liabilities increased to RMB 36,236,879,000 from RMB 35,298,917,000, reflecting a rise of 2.65%[65]. Other Key Metrics - The company recorded a foreign exchange gain of RMB 70.3 million for the six months ended June 30, 2023, compared to a foreign exchange loss of RMB 54.0 million in the same period of 2022[60]. - The basic earnings per share for the period was RMB 0.38, a recovery from a loss per share of RMB 0.16 in the same period of 2022[62]. - The total comprehensive income for the period was RMB 518.9 million, compared to RMB 306.8 million in the same period of 2022[63]. - The company did not declare or pay any dividends for the six months ended June 30, 2023, consistent with the previous year[84].
复星旅游文化(01992) - 2023 - 中期业绩