海底捞(06862) - 2023 - 中期业绩

Financial Performance - Revenue from continuing operations for the first half of 2023 reached RMB 18,885.9 million, a 24.6% increase from RMB 15,155.5 million in the same period of 2022[4] - The net profit for the first half of 2023 was RMB 2,258.9 million, significantly up from RMB 72.3 million in the same period of 2022[2] - The basic earnings per share for the first half of 2023 was RMB 0.42, compared to RMB 0.01 in the same period of 2022[2] - The profit from continuing operations for the period was RMB 2,258,886 thousand, compared to RMB 72,265 thousand in the prior year, indicating a significant increase[40] - The company reported a profit of RMB 2,258,052,000 for the six months ended June 30, 2023, compared to a loss of RMB 266,258,000 for the same period in 2022[60] Revenue Breakdown - Restaurant operations accounted for 95.0% of total revenue, with income from restaurant operations rising by 25.4% to RMB 17,935.4 million[9] - The company reported revenue of RMB 18,885,854 thousand for the six months ended June 30, 2023, an increase from RMB 15,155,472 thousand in the same period of 2022, representing a growth of approximately 24.1%[40] - The restaurant business generated RMB 18,040,008 in revenue, up from RMB 14,373,446, reflecting a growth of 25.5%[52] - The company's revenue for the six months ended June 30, 2023, includes income from restaurant operations, takeout services, condiment and ingredient sales, and other businesses, net of discounts and sales-related taxes[51] Customer Engagement - The number of customers served reached 174.6 million in the first half of 2023, indicating a strong recovery in customer traffic[4] - The private user base exceeded 10 million, allowing for more targeted marketing and improved customer repurchase rates[6] - The average table turnover rate improved to 3.3 times per day, compared to 2.9 times per day in the same period of 2022[3] Operational Efficiency - The company has implemented a digital management system (HiHi System) that has reached version 3.0, improving data collection accuracy and operational efficiency[6] - Cost control measures have been enhanced, focusing on optimizing labor costs and increasing the use of intelligent systems to improve store efficiency[6] - Employee costs rose by 8.6% to RMB 5,769.3 million, but as a percentage of revenue, it decreased from 35.0% to 30.5%[17] Expansion and Development - The total number of Haidilao restaurants increased to 1,382, with 5 new openings and 24 previously closed restaurants resuming operations[4] - The company plans to continue expanding its restaurant network and enhancing delivery services to capture more market share[12] - The company aims to enhance the dining experience by improving service capabilities and product innovation, as well as optimizing restaurant operations[39] Financial Position - Cash and cash equivalents increased from RMB 6,300.8 million as of December 31, 2022, to RMB 7,908.8 million as of June 30, 2023, primarily due to increased cash generated from operating activities[28] - Total assets as of June 30, 2023, were RMB 13,162,266 thousand, up from RMB 10,506,590 thousand at the end of 2022, reflecting a growth of approximately 25.8%[42] - The company’s net asset value increased to RMB 9,314,770 thousand as of June 30, 2023, compared to RMB 7,456,092 thousand at the end of 2022, representing a growth of about 24.9%[43] Cost Management - The cost of raw materials and consumables increased by 18.7% to RMB 7,685.0 million, but as a percentage of revenue, it decreased from 42.7% to 40.7%[16] - Rental and related expenses increased by 18.4% to RMB 200.4 million, maintaining a stable percentage of 1.1% of revenue[18] - Water and electricity expenses increased by 20.5% from RMB 502.4 million for the six months ended June 30, 2022, to RMB 605.4 million for the same period in 2023, maintaining a stable percentage of revenue at 3.3% and 3.2% respectively[19] Technology and Innovation - The company plans to continue investing in new technologies, including the development of business management systems and smart restaurant technologies[39] - As of June 30, 2023, the company has used HKD 846.8 million for the development and application of new technologies, which is 58.0% of the allocated HKD 1,459.9 million[72] Compliance and Governance - The audit committee has reviewed the interim financial performance for the six months ended June 30, 2023, and confirmed compliance with relevant accounting standards[70] - The company has applied new and revised International Financial Reporting Standards (IFRS) effective from January 1, 2023, which did not have a significant impact on the financial position and performance for the current and prior periods[46]