太兴集团二零二五年中期报告

2025INTERIM REPORT中期報告 CONTENTS目錄 Corporate Information公司資料2Financial Highlights財務摘要4Management Discussion and Analysis管理層討論與分析7Independent Review Report獨立審閱報告22Interim Condensed Consolidated Statementof Profit or Loss中期簡明綜合損益表24Interim Condensed Consolidated Statementof Comprehensive Income中期簡明綜合全面收益表25 Interim Condensed Consolidated Statementof Financial Position中期簡明綜合財務狀況表26Interim Condensed Consolidated Statementof Changes in Equity中期簡明綜合權益變動表28Interim Condensed Consolidated Statementof Cash Flows中期簡明綜合現金流量表29Notes to Interim Financial Information中期財務資料附註31Other Information其他資料52Glossary詞彙表59 CORPORATE INFORMATION 董事會 BOARD OF DIRECTORS Executive Directors 執行董事陳永安先生（主席）袁志明先生陳淑芳女士陳家強先生（於二零二五年七月一日獲委任） Mr. Chan Wing On(Chairman)Mr. Yuen Chi MingMs. Chan Shuk FongMr. Chan Ka Keung (appointed on 1 July 2025) 非執行董事何炳基先生 Non-Executive DirectorMr. Ho Ping Kee Independent Non-Executive DirectorsMr. Mak Ping Leung (alias: Mak Wah Cheung)Mr. Wong Shiu Hoi PeterDr. Sat Chui Wan 獨立非執行董事麥炳良先生（又名麥華章）黃紹開先生薩翠雲博士 AUDIT COMMITTEE 審核委員會 薩翠雲博士（主席）麥炳良先生（又名麥華章）黃紹開先生 Dr. Sat Chui Wan(Chairman)Mr. Mak Ping Leung (alias: Mak Wah Cheung)Mr. Wong Shiu Hoi Peter REMUNERATION COMMITTEE 薪酬委員會 Mr. Mak Ping Leung (alias: Mak Wah Cheung)(Chairman)Mr. Chan Wing OnMs. Chan Shuk FongMr. Wong Shiu Hoi PeterDr. Sat Chui Wan 麥炳良先生（又名麥華章）（主席）陳永安先生陳淑芳女士黃紹開先生薩翠雲博士 NOMINATION COMMITTEE 提名委員會 Mr. Chan Wing On(Chairman)Ms. Chan Shuk FongMr. Mak Ping Leung (alias: Mak Wah Cheung)Mr. Wong Shiu Hoi PeterDr. Sat Chui Wan 陳永安先生（主席）陳淑芳女士麥炳良先生（又名麥華章）黃紹開先生薩翠雲博士 公司秘書周正亨先生 COMPANY SECRETARYMr. Chau Ching Hang 核數師 AUDITOR 安永會計師事務所執業會計師註冊公眾利益實體核數師香港鰂魚涌英皇道979號太古坊一座27樓 Ernst & YoungCertified Public AccountantsRegistered Public Interest Entity Auditor27/F, One Taikoo Place979 King’s RoadQuarry Bay, Hong Kong CORPORATE INFORMATION 法律顧問有關香港法律：的近律師行 LEGAL ADVISERSAs to Hong Kong law:Deacons 有關開曼群島法律：康德明律師事務所 As to Cayman Islands law:Conyers Dill & Pearman 主要往來銀行中國銀行（香港）有限公司恒生銀行有限公司香港上海滙豐銀行有限公司 PRINCIPAL BANKERS Bank of China (Hong Kong) LimitedHang Seng Bank LimitedThe Hongkong and Shanghai Banking Corporation Limited 註冊辦事處 REGISTERED OFFICE Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands 香港總辦事處及主要營業地點 HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG 13/F, Chinachem Exchange Square1 Hoi Wan StreetQuarry BayHong Kong 香港鰂魚涌海灣街1號華懋交易廣場13樓 開曼群島主要股份登記及過戶處 PRINCIPAL SHARE REGISTRAR AND TRANSFEROFFICE IN THE CAYMAN ISLANDS Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands 香港股份登記及過戶分處 HONG KONG BRANCH SHARE REGISTRARAND TRANSFER OFFICE 卓佳證券登記有限公司香港夏愨道16號遠東金融中心17樓 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong STOCK CODE6811 股份代號6811 WEBSITEwww.taihing.com 網站www.taihing.com FINANCIAL HIGHLIGHTS財務摘要 Notes: FINANCIAL HIGHLIGHTS財務摘要 附註： Note: 本集團擁有217間自營餐廳（於二零二四年十二月三十一日：210間）及無特許經營餐廳（於二零二四年十二月三十一日：1間）。 The Group has 217 self-operated restaurants (as at 31 December 2024:210) and Nil restaurant operated by its franchisee (as at 31 December2024: 1). FINANCIAL HIGHLIGHTS MANAGEMENT DISCUSSION AND ANALYSIS 整體表現 OVERALL PERFORMANCE The board of directors of the Company is pleased to announcethe interim results of the Group for the six months ended30 June 2025, together with the comparative figures for thecorresponding period of 2024. 本公司董事會欣然宣佈本集團截至二零二五年六月三十日止六個月之中期業績，連同二零二四年同期之比較數字。 During the Review Period, global macroeconomic uncertaintiespersistently dampened consumer confidence, and consumersbecame more prudent in spending. In Hong Kong, the trend oflocal residents spending abroad continued, with the outflow ofconsumption expenditure exacerbated. Meanwhile, the surgein costs such as ingredients and labour has undoubtedly posedmultiple challenges to the catering industry, which createdmounting pressure on the business operations. In addition,sluggish consumption in Mainland China, coupled with intensecompetition in the catering market, further compressed profitmargins of the companies. Against the backdrop of structuralshifts in consumption behaviour and external environmentalfactors affecting both Hong Kong and Mainland China, theoverall recovery trajectory of the catering market was impeded. 回顧期間，全球宏觀經濟不明朗，持續壓抑市場消費信心，令消費者決策愈趨謹慎。香港方面，港人境外消費趨勢持續，消費外流現象加劇。與此同時，食材及人力等成本上漲，無疑給餐飲業帶來多重挑戰，經營壓力與日俱增。此外，中國內地消費疲軟，加上餐飲市場競爭激烈，進一步擠壓企業的盈利空間。在中港兩地同步經歷消費行為的結構性轉變與外部環境等因素的影響下，整體餐飲市場復甦進程受阻。 儘管經營環境充滿挑戰，本集團在管理層的帶領下，延續了自二零二四年下半年以來的增長勢頭。於回顧期間，本集團適時把握市場動向，實施各種營銷策略和優惠活動，同時借助「太興App」與社交平台加大宣傳推廣力度，吸引更多目標客群，推動集團收入同期增長6.2%至約1,712.2百萬港元（二零二四年上半年：1,612.5百萬港元）。本集團亦推出多款受市場歡迎的引流產品，為收入增長添加助力。本集團的毛利約1,256.4百萬港元（二零二四年上半年：1,188.2百萬港元），毛利率為73.4%（二零二四年上半年：73.7%）。此外，本集團透過嚴謹的成本管理措施，有效控制了員工成本及租賃成本，加上持續推進的分店整合策略逐步顯現成效，