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亏损收窄71%,呷哺呷哺暂时顶住了压力
虎嗅APP· 2025-08-29 00:05
Core Viewpoint - The article discusses the financial performance and strategic adjustments of Xiaobai Xiaobai, the "first stock of hot pot," highlighting its challenges and potential recovery in the competitive hot pot industry in China [4][5]. Financial Performance - From 2021 to 2025, Xiaobai Xiaobai accumulated losses of approximately 1.246 billion yuan [5]. - In the first half of 2025, the group's revenue was 1.942 billion yuan, a decrease of 18.9% compared to 2.395 billion yuan in the same period last year [6]. - The main brand, Xiaobai Xiaobai, saw sales decline by 13.5%, but profit increased from 4.06 million yuan in the first half of 2024 to 29.73 million yuan in 2025 [6]. - Despite revenue decline, the company managed to reduce pre-tax losses from 267 million yuan to 75.72 million yuan, a decrease of 71.6% [6]. - Net losses decreased from 274 million yuan to 80.83 million yuan, a reduction of 70.5% [6]. Cost Control and Operational Efficiency - The company achieved significant cost reductions, with raw material costs down by 22.5%, employee costs down by 18.1%, and property rental expenses down by 24.7% [6]. - Depreciation and amortization expenses decreased by 20.5%, and leasing costs were reduced by 24.7% [9]. - The total number of restaurants decreased by 135 compared to June 30, 2024, with a net reduction of 52 stores in the first half of 2025 [9]. Strategic Adjustments - The company is focusing on high-potential areas and closing inefficient stores, with an increase in the proportion of stores in first-tier cities from 39.7% to 42.6% [9]. - The average consumption per customer for Xiaobai Xiaobai decreased from 59.6 yuan to 53.7 yuan, a decline of approximately 9.9% [10]. - The average turnover rate increased from 2.3 times to 2.6 times, an increase of 13.0% [10]. New Growth Initiatives - The "Feng Huan Chao" partner program was launched in July 2025, allowing core employees to hold shares, which has improved operational efficiency and service quality [13][14]. - The program has already established five partner stores, primarily in the Beijing-Tianjin-Hebei region, with restaurant profit margins exceeding 30% [14]. - The membership economy is also on the rise, with gift card sales exceeding 160 million yuan and a significant increase in repurchase frequency among paid members [15]. Industry Trends - The article indicates a shift in the restaurant industry from extensive expansion to lean operations and deep organizational changes, with Xiaobai Xiaobai's initiatives reflecting this trend [16]. - The ability to convert initial successes from the partner mechanism and membership economy into sustained growth will depend on the company's management capabilities and market conditions [16].
呷哺呷哺“努力”关店,仍未走出亏损
Shen Zhen Shang Bao· 2025-08-04 05:53
Core Viewpoint - The company, Xiaobuxiang, is experiencing a significant decline in revenue and is projecting a net loss for the first half of the year, although the loss is expected to be less than in the previous year due to cost optimization efforts [1][2]. Financial Performance - The company anticipates a revenue of approximately 1.9 billion yuan for the first half of the year, representing a year-on-year decrease of about 18.9% [1]. - The projected net loss is between 80 million yuan and 100 million yuan, which is a reduction of 63.2% to 70.5% compared to a net loss of 274 million yuan in the same period of 2024 [1]. - Cumulatively, the company has incurred losses of 1.246 billion yuan over the past four years, with losses of 293 million yuan, 353 million yuan, 199 million yuan, and 401 million yuan from 2021 to 2024 [2]. Strategic Initiatives - The company is focusing on cost optimization through a digital supply chain to enhance operational efficiency and reduce costs [1]. - Measures include closing underperforming restaurants and opening new ones in high-potential areas, leading to a significant decrease in asset impairment losses related to closed and loss-making restaurants, expected to drop by about 64.1% compared to 2024 [1]. - The company has been implementing a prepaid consumption model to optimize discount outcomes and enhance profit margins [4]. Market Position and Challenges - Xiaobuxiang has been attempting to upgrade its brand to enter the high-end market since 2016, with a price increase strategy that has seen the average customer spending rise from 44.4 yuan in 2014 to 62.2 yuan in 2023, an increase of over 40% [4]. - Despite these efforts, consumer sensitivity to pricing is increasing, indicating a need for the company to focus on value for money [4]. - The company's stock price has seen a dramatic decline, falling from a historical high of approximately 25.75 HKD in February 2021 to a low of 0.60 HKD in June 2025, with the stock trading below 1 HKD for most of the year [5].
亲亲食品,果冻难卖
凤凰网财经· 2025-03-22 10:16
以下文章来源于斑马消费 ,作者陈晓京 谁还在吃果冻?果冻行业日子过得好不好,可以从行业头部企业的业绩中窥之一二。 斑马消费 . 寻找泛消费领域的斑马企业 来源|斑马新消费 作者|陈晓京 连亏3年后,"果冻大王"亲亲食品终于扭亏为盈。 公司在2024年实现盈利,主要是没有处置不良资产带来的亏损,加上管理效率提升等,扭转局面相对轻松。 但从收入结构来看,除了膨化及糖果产品拉动收入,果冻产品销售仍处于下滑态势,比上年少卖了约3600万元。 果冻是亲亲食品的起家产品,近年为了适应市场需求,增加了亲亲吸果冻、轻零冻以及0卡等产品,随着渠道骤变,以及寄予厚望构建消费品版图的投资业 务接连失利,这家本土休闲食品企业面临严峻考验。 近年量贩零食行业突飞猛进,一步步蚕食传统休闲食品厂商的市场份额。为了保住仅有的利润,厂商们不得不寻求合作,和新兴渠道零售商打成一片,这 真能解救果冻主业吗?答案留给时间。 01 果冻卖不动了 3月17日盘后,亲亲食品(01583.HK)披露2024年全年业绩,实现营业收入9.97亿元,同比微增1.5%,公司股东应占利润为2113.0万元,一举扭转连续3年 亏损的局面。 收入微增的情况下,业绩大幅改 ...