呷哺呷哺二零二四年中期报告

Contents CORPORATE INFORMATION2DEFINITIONS5BUSINESS REVIEW AND OUTLOOK8MANAGEMENT DISCUSSION AND ANALYSIS24OTHER INFORMATION33REPORT ON REVIEW OF CONDENSEDCONSOLIDATED FINANCIAL STATEMENTS45CONDENSED CONSOLIDATED STATEMENT OFPROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME47CONDENSED CONSOLIDATED STATEMENT OFFINANCIAL POSITION48CONDENSED CONSOLIDATED STATEMENT OFCHANGES IN EQUITY50CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS52NOTES TO THE CONDENSED CONSOLIDATEDFINANCIAL STATEMENTS54 Corporate Information BOARD OF DIRECTORS Executive Director Mr. Ho Kuang-Chi(Chairman and Chief Executive Officer) Non-executive DirectorsMs. Chen Su-YinMs. Li Jie Independent Non-executive Directors Mr. Hon Ping Cho TerenceMs. Cheung Sze ManMr. Kot Man Tat AUDIT COMMITTEE Mr. Hon Ping Cho Terence(Chairman)Ms. Li JieMr. Kot Man Tat NOMINATION COMMITTEE Mr. Ho Kuang-Chi(Chairman)Ms. Cheung Sze ManMr. Kot Man Tat REMUNERATION COMMITTEE Ms. Cheung Sze Man(Chairman)Mr. Ho Kuang-ChiMr. Hon Ping Cho Terence Corporate Information COMPANY SECRETARY Ms. Tam Shuk Wah Carrie(resigned on 16 January 2024)Ms. So Lai Shan(appointed on 16 January 2024) AUTHORIZED REPRESENTATIVES Mr. Ho Kuang-ChiMs. Tam Shuk Wah Carrie(resigned on 16 January 2024)Ms. So Lai Shan(appointed on 16 January 2024) REGISTERED OFFICE IN CAYMAN ISLANDS Cricket SquareHutchins DriveP.O. Box 2681Grand CaymanKY1-1111Cayman Islands Cricket SquareHutchins DriveP.O. Box 2681Grand CaymanKY1-1111Cayman Islands PRINCIPAL PLACE OF BUSINESS IN HONG KONG Unit 2205-07, 22/FTwo Sky Parc51, Hung To RoadKwun TongHong Kong 51Two Sky Parc222205-07 HEADQUARTERS AND PRINCIPAL PLACE OFBUSINESS IN THE PRC Suncun Industrial Development ZoneHuangcun TownDaxing DistrictBeijingPRC Zizhu Digital HubNo. 555 Dongchuan RoadWujing TownMinhang DistrictShanghaiPRC 555 Corporate Information CAYMAN ISLANDS PRINCIPAL SHARE REGISTRARAND TRANSFER AGENT Conyers Trust Company (Cayman) Limited2901 One Exchange SquareConnaught PlaceCentralHong Kong Conyers Trust Company (Cayman) Limited2901 HONG KONG SHARE REGISTRAR Computershare Hong Kong Investor Services LimitedShops 1712–1716, 17th FloorHopewell Centre183 Queen’s Road EastWanchaiHong Kong 183171712–1716 INDEPENDENT AUDITOR •8835 Deloitte Touche TohmatsuPublic Interest Entity Auditor registered in accordance withthe Financial Reporting Council Ordinance35/F, One Pacific Place88 QueenswayHong Kong HONG KONG LEGAL ADVISER 39 Sidley Austin39/F, Two International Finance CentreCentralHong Kong PRINCIPAL BANKS China Merchants BankShanghai Pudong Development BankBank of ChinaHSBCChina CITIC BankFubon Bank (China) ir@xiabu.com INVESTOR RELATIONS E-mail: ir@xiabu.com COMPANY’S WEBSITEwww.xiabu.com www.xiabu.com STOCK CODE 520 520 Definitions Business Review and Outlook OVERVIEW Bythe end of June 2024,the Group operated a total of 1,072restaurants worldwide, including 1,051 restaurants in China and 21restaurants in Hong Kong, Macau, Taiwan and other markets. In thefirst half of 2024, the Group opened 41 new Xiabuxiabu restaurants andoperated 821 Xiabuxiabu restaurants in 21 provinces and autonomousregions and 3 centrally administered municipalities in Mainland China,namely Beijing, Tianjin and Shanghai. The Group also opened 9 newCoucourestaurants and operated 229 Coucou restaurants in 19provinces and 3 centrally administered municipalities in China, namelyBeijing, Tianjin, Shanghai. In the first half of 2024, the Group opened 1new Coucou restaurant in Taiwan, 1 new Coucou restaurants in HongKong, and operated a total of 16 Coucou restaurants and 5 Xiabuxiaburestaurants in Hong Kong, Macau, Taiwan and other markets. 1,0721,0512141213821919322911165 Business Review and Outlook The Group’s revenue decreased by 15.9% from RMB2,846.1 million inthe first half of 2023 to RMB2,394.5 million for the Reporting Period.The sales from Xiabuxiabu decreased by 4.6% from RMB1,377.0 millionin the first half of 2023 to RMB1,313.1 million for the Reporting Period.The sales generated from Coucou decreased by 28.3% from RMB1,401.5million in first half of 2023 to RMB1,004.5 million for the ReportingPeriod. During the Reporting Period, the Group recorded a pre-taxloss of RMB267.0 million, while the pre-tax profit for the six monthsended 30 June 2023 was RMB7.0 million. The Group recorded such anet loss of RMB274.0 million for the six months ended 30 June 2024mainly due to (i) a year-on-year decrease in revenue for brands underthe Group as a result of the weak consumption in the overall marketenvironment and downgraded consumption, and fierce competition inthe catering market which led to low customer traffic to restaurantsduring the Reporting Period; and (ii) the provision of relevant impairmentlosses of approximately RMB203 million in the first half of 2024 forrestaurants that are expected to be closed and record continued lossesafter careful consideration. However, the Group actively optimized itsoperating model in the first half o