Revenue and Profitability - For the year ended December 31, 2023, the group's revenue was approximately RMB 1,815,406,000, an increase of about 27.0% compared to approximately RMB 1,429,792,000 for the same period in 2022[24] - The group's restaurant business revenue for the year was approximately RMB 1,734,200,000, accounting for about 95.5% of total revenue, up from 93.7% in 2022[25] - The group recorded a pre-tax profit of approximately RMB 247,875,000 for the year ended December 31, 2023, compared to a loss of approximately RMB 176,765,000 for the year ended December 31, 2022[59] - The group reported a net profit attributable to shareholders of approximately RMB 181,188,000 for the year ended December 31, 2023, compared to a loss of approximately RMB 143,906,000 in the previous year[60] - Gross profit for the same period was approximately RMB 1,373,330,000, representing a 30.2% increase from RMB 1,054,959,000 in the previous year[69] - Operating profit for the year was RMB 126,842,000, compared to a loss of RMB 114,084,000 in 2022[78] Operational Efficiency and Strategy - The group aims to enhance operational efficiency through effective management and strengthened employee training[22] - The group is facing challenges due to economic slowdown and global inflation, prompting adjustments in operational strategies[21] - The group plans to continue expanding its restaurant network and accelerating digital upgrades to capture the recovery opportunities in the industry[20] Expenses and Costs - Employee costs amounted to approximately RMB 475,830,000, an increase of 11.9% from RMB 425,410,000 in 2022, while the proportion of employee costs to revenue decreased by 3.6 percentage points to 26.2%[71] - The group's total expenses for utilities increased by 12.1% to RMB 82.4 million in 2023, compared to RMB 73.5 million in 2022[52] - Other operating expenses increased by approximately 20.7% to RMB 453,966,000, in line with sales growth and increased operational costs post-pandemic[76] Assets and Liabilities - As of December 31, 2023, the group's bank balance was approximately RMB 1,607,635,000, an increase from RMB 1,465,111,000 as of December 31, 2022, with a current ratio of 4.1 compared to 3.2 in the previous year[47] - The group's net current assets increased to RMB 1,434,727,000 in 2023 from RMB 1,186,121,000 in 2022, reflecting a growth of approximately 21%[102] - The group’s total equity increased to RMB 3,057,926,000 in 2023 from RMB 2,921,312,000 in 2022, representing a growth of approximately 5%[103] - The group’s total liabilities decreased to RMB 1,429,792 in 2023 from RMB 1,965,253 in 2022, indicating improved financial stability[113] Investments and Financial Performance - The group confirmed a fair value gain of approximately RMB 23,935,000 on financial assets measured at fair value through profit or loss for the year ended December 31, 2023, compared to a loss of approximately RMB 63,876,000 in the previous year[56] - The group recognized government subsidies amounting to RMB 10,101, received from local authorities for business activities in mainland China[118] - The fair value gain from investment properties was RMB 8,822, a significant improvement from a loss of RMB 29,803 in 2022[120] Restaurant Operations - The total number of restaurants operated by the group was 562, down from 597 in the previous year, indicating a reduction of 35 locations[27] - The total number of chain restaurants owned by the company as of December 31, 2023, was 562, a decrease of 35 from the previous year[167] Dividends and Shareholder Information - The company proposed a final dividend of RMB 0.08 per share for the year ending December 31, 2023, totaling RMB 87,323,000, compared to RMB 0.06 per share and RMB 65,492,000 for the previous year[126] - The board proposed a final dividend of RMB 0.08 per ordinary share for the year ended December 31, 2023, compared to RMB 0.06 per share in 2022, pending shareholder approval[162] Future Outlook and Compliance - The group has not early adopted new Hong Kong Financial Reporting Standards that are effective for periods beginning on or after January 1, 2024[95] - The company expects that the application of all amendments to Hong Kong Financial Reporting Standards will not have a significant impact on the consolidated financial statements in the foreseeable future[130]
味千(中国)(00538) - 2023 - 年度业绩