唐宫中国中期报告 2024

Corporate Information Directors Executive Directors Ms. Weng Peihe(Chairman)Mr. Yip Shu MingMr. Chan Man WaiMr. Ku Hok ChiuMr. Chen Zhi Xiong(Chief Executive Officer)Mr. Wong Chung Yeung(Chief Financial Officer) Independent Non-Executive Directors Mr. Kwong Chi KeungMr. Kwong Ping ManMr. Chan Kin Shun Company Secretary Mr. Wong Chung Yeung Authorised Representatives Mr. Chan Man WaiMr. Wong Chung Yeung Members of Audit Committee Mr. Kwong Ping Man(Chairman)Mr. Kwong Chi KeungMr. Chan Kin Shun Members of Nomination Committee Mr. Kwong Ping Man(Chairman)Mr. Kwong Chi KeungMr. Chan Kin Shun Members of Remuneration Committee Mr. Kwong Chi Keung(Chairman)Mr. Kwong Ping ManMr. Chan Kin Shun Registered Office Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Head Office and Principal Placeof Business in Hong Kong 103 Unit 3, 10th FloorGreenfield Tower, Concordia PlazaNo. 1 Science Museum RoadKowloonHong Kong Cayman Islands ShareRegistrar and Transfer Office Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Hong Kong Branch ShareRegistrar and Transfer Office 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong Principal Bankers Agricultural Bank of China LimitedBank of China LimitedHang Seng Bank Limited Auditors Ernst & YoungCertified Public AccountantsRegistered Public Interest Entity Auditor Legal Advisor As to Hong Kong law:CFN Lawyers As to the People’s Republic of China’s law:Beijing Bairui (Shenzhen) Law Firm Stock Code 1181 The Stock Exchange of Hong Kong Limited:1181 www.tanggong.cn Website www.tanggong.cn Management Discussion and Analysis Industry Review 5.3%7.9%21% Inthe first half of 2024,the global economy continued to beaffected by war, inflation, and other factors. Amid escalating tradetensionsand rising policy uncertainties,there are unstableelementsin global economic development.At the same time,Mainland China also faced challenges in economic transformationand structural adjustment on the macro economic level. In viewoffrequent changes in the domestic and internationalenvironment, Mainland China’s economic growth slightly sloweddownin the first half of 2024.Although the national GDPincreasedby 5.3%in the first quarter,there was a noticeableslowdownin the second quarter.The catering industry wassimilarly affected by the economic slowdown trend, with nationalcatering revenue increasing by 7.9% year-on-year in the first halfof 2024, a significant decrease as compared to the growth rate ofover 21% in the same period in 2023. Quarterly data also showedthatthe growth rate gradually declined month by month fromdouble-digit increases at the beginning of the year. Business Review 527.310.4%(ERP)66.2%202366.4% In the first half of 2024, Mainland China’s economic growth wasvolatile due to short-term factors such as natural disasters andinsufficientgrowth in domestic demand.Additionally,globaleconomic instability affected market investment sentiment, leadingtoa generally weak consumer market.This was particularlyevident after the Chinese New Year holiday, when the trend ofweakenedconsumption was gradually revealed in the secondquarter,and consumers were more prudent on daily spending.Consequently, the number of customers and per capita spendingatthe Group’s restaurants in Mainland China both declined.Furthermore, several restaurants of the Group were closed in thefirst half of 2024 because of renovations, brand adjustments, andother factors, which had a certain impact on revenue. At the sametime, the business in Hong Kong was also affected by customers’outbound travel spending. As a result, the Group’s revenue for thePeriod was RMB527.3 million, representing a decrease of 10.4%ascompared to the same period in 2023.In response to thechallengesposed by the market environment and changes inconsumerbehavior,the Group implemented several marketingstrategiesduring the Period,including strengthening onlineplatform promotions, enhancing commemorative banquet services,and strengthening members’ loyalty. During the Period, despite theongoing pressure of high operating costs in the catering market,the Group further utilized the enterprise resource planning (ERP)system launched last year, resulting in better control over the coststructureby optimizing the supply chain and the efficiency ofmanagement. The gross profit margin remained stable at 66.2%for the Period (2023: 66.4%). Management Discussion and Analysis The Group’s self-operated business focuses on Chinese cuisine.Due to cautious consumer spending patterns and the increasingsegmentation of dining options in recent years, competition hasbecome particularly fierce. Therefore, the Group’s mar