Financial Performance - Revenue for the year ended December 31, 2022, was RMB 1,559,308 thousand, a decrease of 15% compared to RMB 1,835,616 thousand for the year ended December 31, 2021[2] - The adjusted net loss attributable to owners for the year ended December 31, 2022, was RMB (1,601,150) thousand, compared to an adjusted net profit of RMB 111,230 thousand for the year ended December 31, 2021[2] - In 2022, the company's revenue decreased by 15.1% to RMB 1,559.3 million from RMB 1,835.6 million in 2021, primarily due to the impact of recurring COVID-19 outbreaks[11] - Same-store sales declined by 34.2% in 2022, with same-store daily sales averaging RMB 2,931.2 thousand, down 24.6% from RMB 3,886.9 thousand in 2021[9] - The group reported a loss attributable to owners of the company of RMB 1,601.2 million for the year ended December 31, 2022, compared to a loss of RMB 230.0 million for the year ended December 31, 2021[51] - The company reported a net loss of RMB 1,601,150,000 for the year ended December 31, 2022, compared to a loss of RMB 230,000,000 for the previous year, indicating a significant increase in losses[32] - Adjusted net loss for the year was RMB 244,879,000, a decline from a profit of RMB 111,230,000 in 2021[32] - The group reported a basic and diluted loss per share of RMB 1.459 for the year ended December 31, 2022, compared to RMB 0.213 for the year ended December 31, 2021[51] Assets and Liabilities - Total assets as of December 31, 2022, were RMB 2,676,768 thousand, down from RMB 4,286,766 thousand as of December 31, 2021, representing a decline of approximately 37%[3] - The total liabilities as of December 31, 2022, were RMB 853,900 thousand, down from RMB 1,410,046 thousand in 2021, representing a decrease of approximately 40%[3] - Non-current assets as of December 31, 2022, were RMB 1,286,524 thousand, significantly down from RMB 2,572,643 thousand in 2021, a decline of about 50%[3] - The total equity as of December 31, 2022, was RMB 1,822,868 thousand, a decrease of 37% from RMB 2,876,720 thousand in the previous year[3] - The company’s right-of-use assets decreased from RMB 1,348,300,000 to RMB 457,000,000, primarily due to terminations and impairment losses[36] - Non-current liabilities, specifically lease liabilities, decreased to RMB 565.2 million as of December 31, 2022, from RMB 1,060.6 million as of December 31, 2021[54] Restaurant Operations - The average daily sales per restaurant in first-tier cities for the year ended December 31, 2022, was RMB 7.6 thousand, down from RMB 10.9 thousand in 2021, reflecting a decline of 30%[7] - The average daily sales per restaurant for newly opened restaurants in the second half of 2022 was RMB 7.8 thousand, a 34.5% increase compared to RMB 5.8 thousand in the first half of 2022[8] - The total number of restaurants decreased from 782 in 2021 to 767 in 2022, indicating a reduction of approximately 2%[5] - The company opened 179 new restaurants and closed 194 in 2022, resulting in a total of 767 restaurants as of December 31, 2022, and 749 restaurants as of March 19, 2023[11] Expenses and Costs - Employee benefits and human resources expenses increased by 72.5% from RMB 581.6 million for the year ended December 31, 2021, to RMB 1,003.5 million for the year ended December 31, 2022, primarily due to equity-settled share-based payments of RMB 503.2 million[17] - Depreciation of right-of-use assets rose by 43.5% from RMB 220.2 million for the year ended December 31, 2021, to RMB 315.9 million for the year ended December 31, 2022, mainly due to an increase in the number of taverns[18] - Depreciation of property, plant, and equipment surged by 142.1% from RMB 82.6 million for the year ended December 31, 2021, to RMB 200.0 million for the year ended December 31, 2022, driven by rapid growth in the number of taverns[19] - Short-term lease and related expenses increased by 80.8% from RMB 46.9 million for the year ended December 31, 2021, to RMB 84.8 million for the year ended December 31, 2022, due to the rapid expansion of the tavern network[20] - Other expenses rose by 5.0% from RMB 98.9 million for the year ended December 31, 2021, to RMB 103.8 million for the year ended December 31, 2022, primarily due to a slight increase in maintenance and miscellaneous expenses[24] Impairment and Losses - Impairment losses on property, plant, and equipment and right-of-use assets increased significantly from RMB 11.0 million for the year ended December 31, 2021, to RMB 712.9 million for the year ended December 31, 2022, largely due to the ongoing impact of COVID-19[25] - The company recognized impairment losses on certain properties and equipment due to the ongoing impact of COVID-19, which included temporary closures and reduced customer spending[77] - Impairment losses recognized for certain taverns amounted to approximately RMB 433,449,000 for property and equipment and RMB 279,456,000 for right-of-use assets for the year ended December 31, 2022, compared to RMB 6,351,000 and RMB 4,634,000 in 2021, respectively[78] Government Support and Subsidies - Government subsidies increased from RMB 14.0 million in 2021 to RMB 38.2 million in 2022, mainly due to investment incentives and COVID-19 rent relief[15] - The group recognized a total of approximately RMB 11,711,000 in COVID-19 related rent concessions for the year ended December 31, 2022, compared to RMB 484,000 in 2021[57] Future Plans and Strategies - The company plans to continue expanding its restaurant network while enhancing digital platforms and brand building to improve operational efficiency and customer experience[11] - The company strategically explored a new franchising model in 2022 to enhance operational flexibility and market share, particularly in lower-tier markets[14] - The company aims to transform from a linear chain model to a platform-based company, focusing on user needs and enhancing customer consumption experiences[11] - The company plans to enhance its brand awareness through further investments in technology development[87] Capital and Financing - The company raised approximately HKD 2,980.1 million from its initial public offering on September 10, 2021, with a remaining unutilized net proceeds of approximately HKD 1,453.7 million as of the reporting period[86] - The planned use of the unutilized net proceeds includes 70% (HKD 2,086.1 million) for opening new bars over the next three years, with HKD 1,074.6 million already utilized by December 31, 2022[87] - The company intends to allocate 10% (HKD 298.0 million) for strengthening talent development in its bars, with HKD 206.0 million utilized by December 31, 2022[87] - The company has not been involved in any significant litigation or arbitration during the reporting period[86] - The company has no plans for significant additional external debt financing in the near future[44] Governance and Compliance - The audit committee reviewed the audited consolidated financial statements for the year ending December 31, 2022, and found them compliant with applicable accounting standards[88] - The board will continue to review the effectiveness of the corporate governance structure, particularly the roles of the chairman and CEO[85] - The company has not identified any significant post-reporting period events from December 31, 2022, to the announcement date[90]
海伦司(09869) - 2022 - 年度业绩