Group 1 - The company has significantly improved its profitability, with a notable increase in net profit by 228.0% year-on-year in 1H25, reaching 1.08 billion yuan, despite a slight decline in revenue by 2.9% to 1.223 billion yuan [1][2] - The company has reduced its store count by 425 to a total of 2,864 stores, representing a 17.1% year-on-year decrease, focusing on closing inefficient stores to enhance overall operational quality [1] - Average store productivity has improved by 15.5% year-on-year in 1H25, indicating a shift from scale expansion to quality and structure improvement [1] Group 2 - The gross margin has increased to 58.6%, up by 3.2 percentage points year-on-year, while the net profit margin has risen to 8.8%, reflecting a 6.2 percentage point increase [2] - The company benefits from lower raw material prices and improved supply chain efficiency, contributing to profit growth [2] - Future plans include expanding into overseas markets and developing compound seasoning products to cultivate new growth [2]
周黑鸭(1458.HK)：盈利显著修复 平均店效改善