遇见小面预计2025年全年净利润将超1亿元，经调整净利润有望同比翻倍

Core Viewpoint - The company, Guangzhou Yujian Xiaomian Catering Co., Ltd. (2408.HK), is set to open its 500th global store in Singapore on December 29, 2025, marking a significant step in its international expansion following its successful listing on the Hong Kong Stock Exchange on December 5, 2025 [2][3]. Financial Performance - The company anticipates a net profit for the year 2025 to be between approximately 100 million to 115 million RMB, representing an increase of about 64.7% to 89.5% compared to the full year of 2024 [2]. - Adjusted net profit for 2025 is expected to range from approximately 125 million to 140 million RMB, reflecting an increase of about 95.6% to 119.1% from 2024 [2]. Growth Drivers - The improvement in profitability for 2025 is attributed to four main factors: 1. Expansion of direct-operated and franchised restaurant networks, increasing the total number of restaurants from 360 as of December 31, 2024, to 503 by December 31, 2025 [2]. 2. Gradual expansion of restaurant locations from city centers to surrounding areas, where rental costs are lower but profit margins are higher [3]. 3. Higher operating profit margins from restaurants in the Hong Kong Special Administrative Region, with profit contributions increasing as the number of stores grows [3]. 4. Further dilution of headquarters costs [3]. International Expansion - The opening of the 500th store in Singapore is seen as a new starting point for the company, with the belief that Chinese dining culture and operational models can gain a competitive edge in international markets [3]. - The company aims to establish Chongqing noodles as a mainstream noodle category globally, promoting Chinese culinary culture on the world stage [3]. Shareholder Confidence - On January 6, the company announced a resolution by the board to seek authorization from shareholders to repurchase H-shares, aimed at demonstrating confidence in the long-term business prospects and enhancing company value while safeguarding shareholder interests [4].