Core Insights - In 2024, China implemented a series of consumption-promoting policies, leading to a significant growth in the restaurant industry, with total restaurant revenue surpassing 5.5 trillion RMB for the first time, maintaining a leading economic contribution in the service sector. The pizza industry, characterized by high branding and chain operations, shows promising prospects, with leading companies experiencing rapid growth [1]. Financial Performance - Da Shi Co., Ltd. (Domino's Pizza China) reported total revenue of 4.314 billion RMB in 2024, a year-on-year increase of 41.4%. The company achieved a net profit attributable to shareholders of approximately 55.2 million RMB, compared to a net loss of 26.6 million RMB in 2023, marking a return to profitability. Adjusted net profit reached 131.2 million RMB, a substantial increase of 1,394.2% [2][3][6]. Store Expansion and Market Penetration - In 2024, Domino's Pizza China opened 240 new stores, an increase of 60 from the previous year, reaching a total of 1,008 stores by the end of the year. Nearly 90% of the new stores were located in lower-tier cities, indicating a strategic move into emerging markets [3][4]. - The company entered 10 new cities in 2024, with significant sales performance in new markets, including record sales in the first 30 days of operation for new stores [4][5]. Same-Store Sales and Operational Efficiency - Domino's Pizza China achieved a same-store sales growth of 2.5% in 2024, continuing a trend of positive growth for 30 consecutive quarters. The average daily sales per store increased to 13,126 RMB, a 4.3% rise year-on-year [6][7]. - The company's operational efficiency improved, with a store-level operating profit of 624 million RMB, a 48.7% increase, and an EBITDA of 831 million RMB, up 44.2% [6]. Membership Growth and Revenue Contribution - The number of members reached 24.5 million by the end of 2024, a significant increase from 14.6 million at the end of 2023. Membership revenue contribution rose from 59.2% in 2023 to 64.5% in 2024 [7]. Future Outlook and Market Position - Looking ahead to 2025, the company plans to open approximately 300 new stores, with a strong focus on both existing and new markets. Analysts view the company's growth potential favorably, citing ongoing market penetration and operational improvements [8][9]. - The stock price of Da Shi Co., Ltd. has risen over 130% since its IPO, reflecting strong market performance and investor confidence, bolstered by favorable government policies aimed at boosting domestic consumption [9].
​达势股份(达美乐中国)正式盈利,2024年经调整净利润增14倍