Financial Performance - For the year ended December 31, 2023, the company's revenue was $686.4 million, a 23.0% increase from $558.2 million in 2022[4] - Net profit for the year was $25.3 million, representing a 161.3% year-on-year growth[4] - Total revenue for 2023 reached $661.2 million, a 21.2% increase from $545.6 million in 2022[11] - The company reported total revenue of $686.4 million for the year ended December 31, 2023, representing an increase from $558.2 million in the previous year, reflecting a growth of approximately 23%[43] - The company reported a net profit of $25.3 million for the year ended December 31, 2023, compared to a net loss of $41.3 million in 2022[43] - The group reported a net loss of $25,653,000 for 2023, a significant improvement from a loss of $41,248,000 in 2022[67] Restaurant Operations - The number of restaurants increased to 115, up from 111 in the previous year, with a net addition of 4 restaurants[3] - The number of restaurants increased to 115 in 2023, up from 111 in 2022, with an average revenue per restaurant of $5.749 million[11] - Total customer traffic reached 26.7 million, compared to 21.7 million in 2022, marking a significant increase[3] - Total customer traffic rose to 26.7 million in 2023, compared to 21.7 million in 2022, marking a 22.9% increase[14] - The average table turnover rate improved to 3.5 times per day, up from 3.3 times per day in 2022[3] - The average daily revenue per restaurant was $16.3 thousand, an increase from $15.4 thousand in the previous year[3] - Same-store sales amounted to $536.5 million in 2023, up from $493.3 million in 2022, reflecting an 8.8% growth[17] - The average daily sales per same-store restaurant increased to $17.4 thousand in 2023, compared to $16.0 thousand in 2022[17] Revenue Sources - Revenue from takeaway services grew by 48.5% to $9.8 million in 2023, up from $6.6 million in 2022[19] - Revenue from other sources surged by 156.7% to $15.4 million in 2023, compared to $6.0 million in 2022[20] - Revenue from Haidilao restaurant operations was $661.162 million, up 21% from $545.612 million in the previous year[55] - The takeaway business generated $9.807 million in revenue, a 49% increase from $6.572 million in 2022[55] - Other business revenue, including sales of hot pot condiments and food, rose to $15.393 million from $6.041 million, marking a 155% increase[55] Costs and Expenses - Raw material and consumable costs increased to $234.7 million in 2023, a 19.4% rise from $196.6 million in 2022, but the percentage of revenue decreased from 35.2% to 34.2%[21] - Employee costs rose to $226.0 million in 2023, a 19.6% increase from $188.9 million in 2022, with the percentage of revenue decreasing from 33.8% to 32.9%[22] - Rent and related expenses increased to $17.2 million in 2023, a 32.3% rise from $13.0 million in 2022[23] - In 2023, the company's utility expenses amounted to $26.1 million, a 32.5% increase from $19.7 million in 2022, primarily due to an increase in the number of restaurants and higher table turnover rates[24] - Depreciation and amortization expenses rose to $78.6 million in 2023, up 7.7% from $73.0 million in 2022, with the percentage of revenue decreasing from 13.1% in 2022 to 11.5% in 2023[25] - Travel and communication expenses increased by 20.8% to $5.8 million in 2023, compared to $4.8 million in 2022, while the percentage of revenue remained stable at 0.9% in 2022 and 0.8% in 2023[26] - Other expenses grew to $62.7 million in 2023, a 13.0% increase from $55.5 million in 2022, driven by higher outsourcing service fees and bank service fees[27] Financial Position - As of December 31, 2023, the company's cash and cash equivalents increased by 62.8% to $152.9 million from $93.9 million as of December 31, 2022, primarily due to business growth and improved operational performance of Haidilao restaurants[37] - The total assets decreased to $357.9 million as of December 31, 2023, from $422.7 million in 2022, reflecting a reduction of approximately 15.4%[47] - The company's net assets increased to $272.121 million in 2023 from $242.037 million in 2022, reflecting a growth of 12%[48] - Deferred tax liabilities decreased significantly to $1.347 million from $3.611 million, a reduction of 63%[48] - Lease liabilities also saw a decline, dropping to $163.947 million from $201.687 million, a decrease of 19%[48] - The company reported total equity of $272.121 million, up 12% from $242.037 million in the previous year[48] - The current ratio improved to 1.7 as of December 31, 2023, compared to 1.3 in the previous year, indicating better short-term financial health[37] - The company has no bank borrowings as of December 31, 2023, having fully repaid all loans[37] Strategic Initiatives - The company launched nearly 900 new products globally in 2023, enhancing customer experience[6] - Membership numbers exceeded 4.3 million, with active online engagement in 12 countries[6] - Future strategies include expanding restaurant networks and exploring new business formats through strategic acquisitions[7] - The company plans to continue seeking strategic investment opportunities to enhance synergies and improve business performance[39] Governance and Compliance - The company has adopted the Corporate Governance Code and has complied with all applicable principles and provisions during the reporting period[88] - The Audit Committee reviewed the annual performance for the year ended December 31, 2023, and confirmed compliance with relevant accounting standards[90] - No significant events requiring disclosure occurred after December 31, 2023, up to the date of this announcement[91] Shareholder Information - The Annual General Meeting is scheduled for June 12, 2024[92] - The company will suspend share transfer registration from June 6 to June 12, 2024, to facilitate the Annual General Meeting[92] - The company expressed gratitude to shareholders, management, employees, business partners, and customers for their support and contributions[92]
特海国际(09658) - 2023 - 年度业绩