Group 1 - The core viewpoint of the articles highlights that 达势股份 (Dashi Co.) experienced a significant revenue growth of 27% year-on-year, reaching 2.6 billion yuan, and an adjusted net profit increase of 80% to 91.42 million yuan, exceeding expectations due to better-than-expected single-store profitability [1][2] - The company has steadily expanded its store network, opening 190 new stores in the first half of the year, with 6 in first-tier cities and 184 in non-first-tier cities, bringing the total number of stores to 1,198 [1] - The company entered 9 new cities in the first half of the year, with stores located in 48 cities by the end of June, indicating significant room for further expansion [1] Group 2 - Same-store revenue showed resilience, with first-tier cities experiencing positive year-on-year growth, while overall same-store revenue declined by 1% due to high comparison bases from strong initial performances in newly entered markets [1] - The operating profit margin at the store level improved by 0.1 percentage points to 14.6% year-on-year, and the group's cash compensation expenses, depreciation and amortization, and management expenses as a percentage of revenue decreased by 0.4, 0.3, and 0.3 percentage points respectively [2] - The company maintains a buy rating, optimistic about its potential for store openings and single-store performance in the Chinese pizza market [2]
达势股份(01405.HK)：门店稳步扩张 同店具备韧性