Financial Performance - For the year ended December 31, 2022, the company's revenue decreased by approximately 0.1% to RMB 4,291.6 million from RMB 4,296.6 million in 2021[2] - The adjusted net loss for 2022 was RMB 461.3 million, compared to a net loss of RMB 145.3 million in 2021[2] - The total revenue for the group was RMB 4,291.6 million, a slight decrease of approximately 0.1% compared to RMB 4,296.6 million in 2021, primarily due to the impact of recurring COVID-19 outbreaks in mainland China[25] - The company reported a net loss of RMB 475,806 thousand for 2022, significantly improved from a net loss of RMB 4,525,524 thousand in 2021[63] - The total comprehensive loss for the year was RMB 193,671 thousand, compared to a total comprehensive loss of RMB 4,565,970 thousand in the previous year[63] - The company's basic and diluted loss per share was RMB 0.27, a substantial improvement from RMB 3.28 in 2021[62] Revenue Breakdown - Revenue from the tea shop brand accounted for 92.5% of total revenue, contributing RMB 3,969.3 million, down 2.2% from RMB 4,067.3 million in 2021[5] - Revenue from baked goods decreased by 3.8% to RMB 775.7 million, representing 18.1% of total revenue[9] - In 2022, total revenue from Naixue's tea stores was approximately RMB 3,969.3 million, a decrease of 2.4% compared to RMB 4,067.3 million in 2021[11] - Revenue from the sale of freshly made tea was RMB 3,135,326,000, while revenue from baked goods and other products and services was RMB 1,156,260,000[77] Operational Metrics - The operating profit from tea shops was RMB 469.9 million, a decrease of approximately 20.6% compared to RMB 591.5 million in 2021[3] - The operating profit margin for tea shops was 11.8%, down approximately 2.7 percentage points from 14.5% in 2021[3] - The average order value for tea shops decreased to RMB 34.3 from RMB 41.6 in 2021[7] - The average daily order volume per tea shop fell to 348.2 from 416.7 in 2021[7] - The number of store orders decreased by 28.2% to 759,744, while takeaway orders increased by 9.5% to 1,836,938, indicating a shift in consumer preference[11] Store Expansion and Market Strategy - As of December 31, 2022, Naixue had 1,068 self-operated tea stores across 89 cities, with a net addition of 251 stores during the year[14] - The company aims to enhance its market presence by increasing store density and optimizing store models to improve consumer accessibility[2] - The company plans to continue expanding its store network in first-tier, new first-tier, and key second-tier cities to enhance market penetration[14] - The company aims to increase store density in existing markets to cultivate consumer habits and drive market maturity[20] - The number of first-class tea stores in first-tier cities increased from 245 in 2021 to 309 in 2022, reflecting a strategic focus on high-end tea consumption[15] Cost Management - Material costs amounted to RMB 1,416.1 million, representing 33.0% of total revenue, compared to 32.6% in 2021[27] - Employee costs were RMB 1,362.1 million, accounting for 31.7% of total revenue, down from 33.2% in 2021, attributed to improved management efficiency[28] - Depreciation of right-of-use assets was RMB 434.9 million, constituting 10.1% of total revenue, compared to 9.8% in 2021[29] - Advertising and promotional expenses amounted to RMB 142.9 million, representing 3.3% of total revenue for the reporting period, up from RMB 111.6 million and 2.6% in 2021[31] - Delivery service fees were RMB 380.5 million, accounting for 8.9% of total revenue, an increase from RMB 259.0 million and 6.0% in 2021, primarily due to changes in consumer habits during the pandemic[32] Cash Flow and Liquidity - As of December 31, 2022, the total cash and cash equivalents amounted to RMB 1,387.5 million, a decrease from RMB 4,052.8 million as of December 31, 2021[43] - The company has sufficient cash and cash flow to support operations and expansion, with no plans for large-scale refinancing[23] - Cash and cash equivalents decreased to RMB 1,387,495,000 in 2022 from RMB 4,052,806,000 in 2021, reflecting a significant reduction in liquidity[104] Employee and Governance - The company has a total of 7,557 full-time employees, with 1,550 working at headquarters and regional offices, while the rest are store staff[58] - The company emphasizes competitive and fair compensation and benefits for employees, with performance-based bonuses linked to financial performance and market conditions[58] - The company maintains a governance structure that separates the roles of Chairman and CEO, although the current individual holds both positions[121] - The board of directors includes both executive and independent non-executive members, ensuring a diverse governance structure[131] Future Outlook - The company expresses optimism for 2023, anticipating a recovery in consumer spending and improved profitability[24] - The company plans to maintain a proactive and steady store opening strategy in 2023, focusing on increasing store density in high-tier cities[23] - The company is actively reviewing and managing its capital structure to balance high shareholder returns with a stable capital position[117] Regulatory and Compliance - The company is registered in the Cayman Islands and its shares are listed and traded on the stock exchange, indicating its compliance with relevant regulations[128] - The company is subject to the listing rules of the Hong Kong Stock Exchange, which govern its operations and disclosures[129] - The company has adopted a code of conduct for securities trading that meets or exceeds standard requirements, confirming compliance during the reporting period[122]
奈雪的茶(02150) - 2022 - 年度业绩