QUANJUDE(SZ:002186)2022-12-08 01:31Group 1: Company Overview - The company, founded 151 years ago, operates several well-known brands including Quanjude and Fengze Garden, focusing on traditional Chinese cuisine and food sales [2] - Future development plans include adapting to market demands by introducing new business models and products, such as online food delivery targeting younger customers [3] Group 2: Seasonal Revenue Fluctuations - Revenue peaks occur during holiday seasons, with significant sales during the Mid-Autumn Festival, where mooncake sales can reach tens of millions [3] - The company is experiencing a recovery growth, influenced by events such as the "阅兵" in September [3] Group 3: New Store Formats - A new store model has been tested in Shanghai, featuring a smaller footprint of approximately 700 square meters and a focus on refined dishes [4] - The company plans to transition from large to small store formats to enhance management efficiency and accelerate store openings [4] Group 4: Delivery Service Development - The company is collaborating with a partner in Chongqing to establish a delivery service, aiming for a nationwide rollout [4] - The delivery model focuses on high-quality products with a higher average order value, targeting a price point of 238 RMB for two-person meals and 318 RMB for four-person meals [4] Group 5: Revenue from Franchise Fees - Franchise fees and management fees generate nearly 30 million RMB annually, with revenue from franchise stores monitored through duck product deliveries [5] - The company sets a revenue baseline for franchise stores to ensure compliance and performance [5] Group 6: Regional Revenue Contributions - Revenue from out-of-town stores is approximately 2 billion RMB from East China and 1 billion RMB from Xinjiang, contributing to a total restaurant revenue of around 14 billion RMB [5] - Profitability of out-of-town stores has improved, with the second store in Hangzhou becoming profitable by October [5]