清明节三天假期即将来临，旅游市场又迎来一波小热潮。当前，家门口的露营经济颇受现代年轻人青 睐，露营经济板块概念股走热。据同花顺数据，4月2日，露营经济板块上涨，多只概念股活跃。截至收 盘，广州岭南集团控股股份有限公司（简称：岭南控股，000524）涨停、浙江星华新材料集团股份有限 公司涨超15%、探路者控股集团股份有限公司（以下简称"探路者"）涨超10%。 人们健康意识的不断增强，露营作为一种新兴的休闲、度假形式，逐渐受到广大消费者的欢迎，市场规 模不断扩大。据《2022—2023年中国露营行业研究及标杆企业分析报告》，预计2025年中国露营经济核 心市场规模将升至2483.2亿元，带动市场规模将达到14402.8亿元。 本报记者 许林艳 近日，行业上市企业也在积极回应市场关切。4月1日，深圳市北鼎晶辉科技股份有限公司在互动平台表 示，公司关注户外生活方式趋势，已推出多款适配户外场景的产品。现有产品线中，迷你卡式炉、不粘 烤肉锅、便携养生壶、随行杯等产品凭借"好带好洗好出片"等特点，满足消费者对精致露营的需求。 （编辑 才山丹） 同日，探路者也回复投资者称，公司相关创新型户外智能装备正处于系统化研发阶段，后续 ...

突发利空，300052巨量封死跌停 警惕突发ST。 3月18日，A股各主要股指继续表现强势，上证指数收盘上涨0.11%，盘中再创年内新高。在比亚迪 （002594）发布"兆瓦闪充"技术的消息影响下，高压快充板块表现亮眼，富特科技（301607）、英可瑞 （300713）、金冠股份（300510）等个股"20cm"涨停，万马股份（002276）、奥特迅（002227）等也 涨停。 今日市场赚钱效应依然可观，收盘有逾千股涨超1.5%。跌幅榜上，ST中青宝（300052）"20cm"跌 停，美邦科技、天源环保（301127）、新研股份（300159）等个股大跌逾11%。 ST中青宝"20cm"跌停 中青宝近日发布公告称，该公司于今年3月14日收到深圳证监局下发的《行政处罚事先告知书》。 根据《行政处罚事先告知书》认定的情况，中青宝披露的2019年至2021年年度报告存在虚假记载。据相 关规定，中青宝股票将被实施其他风险警示。3月18日，该公司股票简称已由"中青宝"变更为"ST中青 宝"。 和中青宝同日被ST的还有华闻集团（000793）。公司于3月14日收到海南证监局出具的《行政处罚 事先告知书》。根据相关规定，公 ...

Financial Performance - Revenue for the six months ended September 30, 2024 decreased by 0.3% to HKD 1.5535 billion (2023: HKD 1.5580 billion)[4] - Gross profit margin declined to 7.5% (2023: 9.4%)[4] - Profit attributable to equity shareholders for the period was HKD 15.52 million (2023: HKD 36.32 million)[4] - Basic earnings per share were 11.98 HK cents (2023: 28.03 HK cents)[4] - Profit for the period was HKD 36,317,000 for the six months ended September 30, 2024[39] - Pre-tax profit for the six months ended September 30, 2024, was HKD 17,774,000, compared to HKD 43,409,000 in the same period last year[42] - Net profit for the period was HKD 15,521 thousand, with total comprehensive income of HKD 14,930 thousand[56] - Pre-tax profit from the Hong Kong restaurant segment was HKD 31,422 thousand, with a valuation gain on investment properties of HKD 1,270 thousand[68] - Basic earnings per share for the six months ended September 30, 2024, were HK$15,521,000, compared to HK$36,317,000 in the same period in 2023, based on 129,553,000 weighted average shares[78] - Revenue from food and beverage sales for the six months ended September 30, 2024, was HK$1,550,241,000, slightly down from HK$1,555,581,000 in the same period in 2023[87] - The company's total revenue for the six months ended September 30, 2024, was HK$1,553,451,000, compared to HK$1,558,003,000 in the same period in 2023[87] - The annualized average return on equity was 4.8%, down from 7.6% in the previous year[188] Assets and Liabilities - Total assets minus current liabilities stood at HKD 1.3225 billion (2023: HKD 1.3895 billion)[24] - The company's net asset value was HKD 637.3 million (2023: HKD 660.4 million)[24] - Non-current assets increased to HKD 1,479,064,000 as of September 30, 2024, compared to HKD 1,451,413,000 on March 31, 2024[35] - Current assets decreased to HKD 771,126,000 as of September 30, 2024, from HKD 796,398,000 on March 31, 2024[35] - Net current liabilities increased to HKD (156,565,000) as of September 30, 2024, compared to HKD (61,945,000) on March 31, 2024[37] - Total equity decreased to HKD 637,300,000 as of September 30, 2024, from HKD 660,405,000 on March 31, 2024[53] - The group's total current assets were HKD 771,126 thousand, and total current liabilities were HKD 927,691 thousand, resulting in a net current liability of HKD 156,565 thousand[58] - The company's total assets amounted to HKD 2.2502 billion as of September 30, 2024, with a net current liability of HKD 156.6 million[186] - The company's inventory as of September 30, 2024, was HK$57,964,000, up from HK$52,651,000 as of March 31, 2024[104] - The company's accounts payable and accrued expenses as of September 30, 2024, were HK$456,905,000, up from HK$412,200,000 as of March 31, 2024[108] - The company's deferred tax assets and liabilities as of September 30, 2024, included a temporary difference of HK$209,000, compared to HK$792,000 in the same period in 2023[92] - The net book value of properties pledged as collateral for bank standby credit facilities was HK$671,000 as of September 30, 2024 (compared to HK$721,000 as of March 31, 2024)[118] - Accounts receivable (net of impairment) decreased to HK$9,384,000 as of September 30, 2024, from HK$20,460,000 as of March 31, 2024[121] - The maximum liability under the bank standby credit facilities guaranteed by the company was HK$87,185,000 as of September 30, 2024 (compared to HK$87,702,000 as of March 31, 2024)[136] - The group's right-of-use assets and lease liabilities increased to HK$11,375,000 and HK$11,492,000 respectively as of September 30, 2024[160] - The group confirmed right-of-use assets and lease liabilities of HK$3,340,000 and HK$5,001,000 respectively as of September 30, 2024[140] Cash Flow and Liquidity - Cash and cash equivalents decreased to HKD 349,873,000 as of September 30, 2024, from HKD 483,150,000 on September 30, 2023[40] - Operating cash flow generated was HKD 308,269,000 for the six months ended September 30, 2024[40] - The company's bank deposits and cash equivalents stood at HKD 595,792,000 as of September 30, 2024[42] - The company expects future cash flows from operations to strengthen its financial position over the next 12 months[42] - Operating activities generated a net cash inflow of HKD 306,636 thousand, while investment activities used a net cash outflow of HKD 259,045 thousand[57] - Cash and cash equivalents as of September 30, 2024, were HK$349,873,000, down from HK$538,322,000 as of March 31, 2024[107] - The company's net cash generated from operating activities was HKD 306.6 million[187] - The company has no bank loans and a capital gearing ratio of 0.0%[187] Dividends and Shareholder Information - The company declared an interim dividend of 5.0 HK cents per share, totaling HKD 6,478 thousand, compared to 11.0 HK cents per share in the previous year[76] - The final dividend per share for the fiscal year ended March 31, 2024, is HK$0.30 (compared to HK$0.40 for the fiscal year ended March 31, 2023), totaling HK$38,866,000 (compared to HK$51,821,000 in the previous year)[115] - Luo Kaiyang holds 57,544,384 shares, representing 44.42% of the total issued shares as of September 30, 2024[200] - Luo Huicheng holds 56,475,384 shares, representing 43.59% of the total issued shares as of September 30, 2024[200] - Li Biqi holds 702,000 shares, representing 0.54% of the total issued shares as of September 30, 2024[200] Operational Highlights - The company launched a soft meal program targeting the elderly and individuals with swallowing difficulties, which has significant growth potential and generated media value exceeding HKD 6 million[5] - The company is focusing on the high-growth potential evening market and expanding its "value-for-money" product offerings to cater to cost-conscious customers[1] - The company expects growth opportunities from the trend of downward adjustment in dining consumption due to economic pressures[6] - The company has strengthened its community engagement by setting up mobile swallowing assessment stations in its restaurants, providing professional speech therapy consultations[5] - The group introduced new high-value dinner menu items and expanded popular dishes, driving customer traffic and average spending[147] - The "Eat Well GYM" promotion campaign was expanded with new sponsorships and KOL collaborations to enhance brand awareness[148] - The number of registered members on the Fairwood App exceeded 920,000, becoming a key promotional tool[149] - The group launched a soft meal plan in October 2024, targeting the elderly and individuals with chewing and swallowing difficulties[169] - The company's "Happy Elderly Card" membership exceeded 530,000 by the end of the period[170] - The company operates 149 Fast Food outlets and 10 specialty restaurants in Hong Kong, including the newly launched Italian restaurant "Ombra"[170] - The company's specialty restaurants, including "ASAP," "一碗肉燥," and "一葉小廚," performed steadily during the period[170] - The company's new soft meal program is expected to have significant development potential in the future[172] Employee and Compensation - Total number of employees decreased to 5,600 as of September 30, 2024, from 5,700 as of March 31, 2024[196] - The company provides competitive compensation, stock options, and bonuses to eligible employees based on performance[196] - The company maintains training and development programs to improve employee quality, capabilities, and skills[196] - The group's salary and short-term employee benefits decreased to HK$7,196,000 for the six months ended September 30, 2024, compared to HK$7,783,000 in the same period in 2023[159] - The group's defined contribution retirement plan contributions remained unchanged at HK$18,000 for the six months ended September 30, 2024 and 2023[159] Investments and Capital Expenditures - The company's capital expenditures for other properties, plant, and equipment for the six months ended September 30, 2024, were HK$130,969,000, up from HK$50,649,000 in the same period in 2023[100] - The company's right-of-use assets increased by HK$35,212,000 for the six months ended September 30, 2024, compared to HK$82,990,000 in the same period in 2023[100] - The company's outstanding capital commitments totaled HKD 30.82 million as of September 30, 2024[192] - The company's investment properties were revalued, resulting in a gain of HK$1,270,000 for the six months ended September 30, 2024, compared to a loss of HK$1,030,000 in the same period in 2023[78] - The weighted average exercise price of unexercised share options as of September 30, 2024, was HK$11.456 (unchanged from March 31, 2024), with a weighted average remaining contractual life of 8.76 years (compared to 9.27 years as of March 31, 2024)[131] Contingent Liabilities and Guarantees - The company's maximum contingent liability for guarantees on subsidiary loans and standby credits is HKD 87.19 million as of September 30, 2024[193] - The company has not recognized any deferred income related to these guarantees due to the small amount[194] Other Financial Information - Other income for the period was HKD 13,241 thousand, primarily from interest income, compared to HKD 14,545 thousand in the previous year[70] - Total expenses for the period were HKD 1,516,752 thousand, including HKD 371,201 thousand for inventory costs and HKD 563,227 thousand for employee costs[71] - Inventory write-downs for the six months ended September 30, 2024, were HK$5,415,000 (compared to HK$83,000 in the same period in 2023)[123] - Impairment losses on right-of-use assets and other property, plant, and equipment amounted to HK$10,083,000 for the six months ended September 30, 2024 (compared to HK$6,312,000 in the same period in 2023)[117][118] - Depreciation of right-of-use assets and interest on lease liabilities for the six months ended September 30, 2024, were HK$1,030,000 and HK$207,000, respectively (compared to HK$1,062,000 and HK$119,000 in the same period in 2023)[139] - The company's subsidiary renewed a three-year lease for a property with Qingli Limited, generating depreciation of HK$923,000 and lease liability interest of HK$100,000 for the six months ended September 30, 2024[140] - The group's financial instruments recorded at cost or amortized cost showed little difference between their carrying amounts and fair values as of September 30, 2024[158]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公布的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公布全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 52 截至二零二四年九月三十日止 六個月中期業績公布 | --- | --- | |-------|--------------------------------------------------------------------------------------------------------------------| | | | | 摘要 | | | • | 收入減少 0.3% 由港幣 15.580 億元至港幣 15.535 億元。 | | • | 本公司權益股東應佔本期間溢利為港幣 1,550 萬元（二零二三年：港幣 3,630 萬元）。 | | • | 本集團維持穩健的財務狀況，於二零二四年九月三十日持有的銀行存款和現金和 現金等價物為港幣 5.958 億元及並無銀行負債。 | | • | 每股基本盈利為 11.98 港仙（二零二三年： 28.03 港仙）。 | | • | 董事會宣 ...

Financial Performance - Profit for the year increased by 12.9% to HK$50.7 million (2023: HK$44.9 million), with a significant increase of HK$46.0 million when excluding government subsidies[36] - Revenue for the year increased by 3.7% to HK$3.1369 billion (2023: HK$3.0242 billion)[60] - Gross profit margin improved to 8.6% (2023: 8.5%)[60] - Basic earnings per share rose to HK39.10 cents (2023: HK34.64 cents), an increase of 12.9%[37] - Revenue increased by 3.7% year-on-year to HK$3,136.9 million (2023: HK$3,024.2 million)[62][70] - Profit attributable to equity shareholders rose by 12.9% to HK$50.7 million (2023: HK$44.9 million)[62] - Gross profit margin increased to 8.6% (2023: 8.5%)[62] - Basic earnings per share amounted to HK39.10 cents (2023: HK34.64 cents)[62] - Return on average equity increased to 7.6% in 2024 from 6.4% in 2023[157] Financial Position - The Group maintained a strong financial position with bank deposits and cash equivalents of HK$641.0 million as of 31 March 2024 (2023: HK$646.8 million)[36] - The Group had no bank borrowings and a nil gearing ratio as of 31 March 2024[49] - The Group's net assets stood at HK$777.8 million as of 31 March 2024, showing a steady increase over the past five years[59] - The Group maintained a healthy financial position with bank deposits, cash, and cash equivalents of HK$641.0 million as of 31 March 2024[71] - The company has no bank loans and a gearing ratio of zero as of March 31, 2024, with unutilized banking facilities of HK$231.3 million (2023: HK$260.0 million)[130][133] - Total assets of the company decreased to HK$2,247.8 million in 2024 from HK$2,302.5 million in 2023, with net current liabilities increasing to HK$61.9 million from HK$24.8 million[132] - The company's cash and cash equivalents decreased by 0.9% to HK$641.0 million in 2024 from HK$646.8 million in 2023, with most holdings in Hong Kong dollars, US dollars, and Renminbi[150][154] - Net book value of properties pledged as security for banking facilities decreased to HK$0.7 million in 2024 from HK$0.8 million in 2023[161] - The Group's maximum contingent liabilities for banking facilities guaranteed to subsidiaries were HK$877 million in 2024, slightly down from HK$889 million in 2023[182] Dividends - A final dividend of HK30.0 cents per share was proposed, resulting in a total dividend per share for the year of HK41.0 cents and a payout ratio of approximately 105%[51] - The total dividend for the year ended 31 March 2024 amounts to HK41.0 cents per share, representing a total distribution of approximately 105% of the Group's profit for the year[64] - The Group's full-year dividend for the fiscal year ending March 31, 2024, is HK$0.41 per share, representing a total payout of approximately 105% of the Group's annual profit[99] Store Operations and Expansion - Same Store Sales Growth (SSSG) for Fairwood's fast food restaurants rose by approximately 2% year on year[86] - The Group opened 11 new stores (7 in Hong Kong and 4 in mainland China) and closed 8 underperforming stores (6 in Hong Kong and 2 in mainland China), resulting in a total of 182 stores as of 31 March 2024[93] - The Group opened 11 new stores (7 in Hong Kong and 4 in Mainland China) and closed 8 underperforming stores (6 in Hong Kong and 2 in Mainland China), resulting in a total of 182 stores by March 31, 2024[116] - Mainland China same-store sales growth (SSSG) increased by approximately 16% year-on-year, driven by effective strategies and new product offerings[102] Membership and Digital Initiatives - The "Fairwood Care for the Elderly Card" membership exceeded 470,000 by the end of the year, with an increase of over 30,000 members since the interim report[93] - Membership of the Care for Seniors Card program reached over 470,000 by year-end, an increase of more than 30,000 since the interim report six months earlier[117] - The Fairwood App membership grew to over 730,000 by year-end, up from 660,000 six months prior, and successfully drove store visits through three major promotions[108][109] - The Group's digitalization initiatives, including the Kitchen Management System and mobile ordering, have reduced manual tasks and optimized staff deployment, despite high capital investment requirements[112][113] Sustainability Efforts - The Group reduced over 1 million pieces of single-use plastic cutlery and donated over 35,000 meals through its sustainability initiatives[96] - The company has reduced the use of over 1 million single-use plastic utensils and donated more than 35,000 meal boxes as part of its sustainability initiatives[139] - The Group's sustainability efforts, such as the coffee grounds and lemon peel reuse program, reduced food waste by approximately 210 tons in the 2023/24 fiscal year[118] - Solar panels installed at the central food processing plant generated over 36,000 kWh of electricity since August 2023, supporting the Group's carbon reduction goals[119] - Solar panels installed at the central food processing center have generated over 36,000 kWh of electricity since August 2023, supporting clean energy initiatives[139] Economic and Market Conditions - Hong Kong and the Greater Bay Area (GBA) are experiencing an economic downturn, leading to reduced consumer spending, with challenges from the "Shenzhen factor" where Hong Kong residents travel to Shenzhen for leisure, weakening local consumption[121][123] - The company expects the Mainland business environment to remain challenging in the coming year due to economic uncertainties, but believes profitability will improve with economies of scale and continued expansion in the GBA[122][125] - The company expects rental cost reductions due to the economic downturn, which may improve profitability for up to one-third of its stores through upcoming lease negotiations[124][142] Capital Expenditure and Costs - Capital expenditure (excluding right-of-use assets) rose to HK$131.5 million in 2024 from HK$104.7 million in 2023, primarily due to increased renovation works for existing shops[178] - Outstanding capital commitments at 31 March 2024 were HK$24.3 million, up from HK$10.3 million in 2023[180] - Finance costs increased to HK$33.4 million in 2024 from HK$31.7 million in 2023, mainly due to interest expenses on lease liabilities[174] - Depreciation charges for right-of-use assets increased by HK$17.2 million to HK$406.7 million in 2024, driven by new shop additions and lease modifications[173] - The company's depreciation of other property, plant, and equipment increased by HK$4.6 million to HK$93.7 million due to more renovation activities during the year[134] Employee and Staff Costs - Total number of employees grew to approximately 5,700 in 2024 from 5,600 in 2023, with staff costs rising to HK$1,100.4 million from HK$1,020.5 million[185] Business Overview and Reporting - The company's main business is investment holding, with the group primarily operating fast food restaurants and property investments[199] - The company's annual report and audited consolidated financial statements for the year ending March 31, 2024, are presented by the Board of Directors[198] - The company's business review and outlook, including major risks and uncertainties, are detailed in the annual report on pages 9 to 16 and the risk management policy on pages 58 to 63[200]

Revenue Growth - Revenue from external customers in Hong Kong increased to HKD 2,951,897 thousand in 2024 from HKD 2,873,125 thousand in 2023, representing a growth of approximately 2.7%[30] - Revenue for the year increased by 3.7% to HKD 3.1369 billion (2023: HKD 3.0242 billion)[64] - Total revenue for the year ended March 31, 2024, was HKD 3,136,947,000, compared to HKD 3,024,152,000 in the previous year, representing a growth of approximately 3.7%[75] - Revenue from Hong Kong (registered location) for the year ended March 31, 2024, was HKD 2,953,910,000, compared to HKD 2,873,282,000 in the previous year, while revenue from Mainland China was HKD 183,037,000, up from HKD 150,870,000[75] - Revenue increased by 3.7% year-on-year to HKD 3.1369 billion (2023: HKD 3.0242 billion)[108] Profitability - The company's pre-tax profit from reporting segments rose to HKD 98,779 thousand in 2024 from HKD 97,137 thousand in 2023, indicating a modest increase[28] - Net profit for the year rose by 12.9% to HKD 50.7 million (2023: HKD 44.9 million)[64] - The company recorded a profit before tax of HKD 65,125,000 for the year ended March 31, 2024, up from HKD 51,664,000 in the previous year, an increase of approximately 26%[83] - Profit attributable to equity shareholders rose by 12.9% to HKD 50.7 million (2023: HKD 44.9 million)[108] - Gross profit increased to HKD 270.6 million (2023: HKD 256.8 million)[61] - Operating profit rose to HKD 98.5 million (2023: HKD 83.4 million)[61] - Gross profit margin improved to 8.6% (2023: 8.5%)[108] Earnings Per Share - The company's basic earnings per share increased to HKD 50,657 thousand in 2024 from HKD 44,880 thousand in 2023, based on 129,553,000 weighted average shares[17] - Basic earnings per share increased by 12.9% to 39.10 HK cents (2023: 34.64 HK cents)[64] Financial Position - The company's net asset value stood at HKD 660,405 thousand in 2024, down from HKD 680,629 thousand in 2023[7] - The company maintained a strong financial position with cash and cash equivalents of HKD 641.0 million as of March 31, 2024 (2023: HKD 646.8 million)[64] - The company had no bank loans and a debt ratio of zero as of March 31, 2024[64] - Total current assets as of March 31, 2024, were HKD 796,398,000, compared to HKD 792,447,000 in the previous year, while total current liabilities were HKD 858,343,000, up from HKD 817,224,000, resulting in a net current liability of HKD 61,945,000[76] - The company's bank deposits and cash equivalents as of March 31, 2024, stood at HKD 640,983,000, slightly down from HKD 646,758,000 in the previous year[83] - The company's total equity as of March 31, 2024, was HKD 660,405,000, down from HKD 680,629,000 in the previous year[70] - The company's total non-current assets as of March 31, 2024, were HKD 1,389,407,000, compared to HKD 1,436,544,000 in the previous year[69] - The company's total liabilities as of March 31, 2024, were HKD 858,343,000, up from HKD 817,224,000 in the previous year[76] - The company's total assets minus current liabilities as of March 31, 2024, were HKD 1,389,468,000, compared to HKD 1,485,321,000 in the previous year[69] - The company's total assets stood at HKD 2.2478 billion as of March 31, 2024, with a net current liability of HKD 61.9 million[150] - The company has no bank loans and a capital gearing ratio of zero, with unused bank credit facilities of HKD 231.3 million[137] Dividends - The company proposed a final dividend of 30.0 HK cents per share, bringing the total annual dividend to 41.0 HK cents per share with a payout ratio of approximately 105%[64] - The company declared and paid an interim dividend of 11.0 HK cents per share, totaling HKD 14,251 thousand, and proposed a final dividend of 30.0 HK cents per share, totaling HKD 38,866 thousand[101] Operational Performance - Same-store sales growth for Fairwood fast food restaurants increased by approximately 2% year-over-year[22] - Same-store sales growth in mainland China restaurants increased by approximately 16% year-on-year[131] - The company opened 11 new stores, with 7 in Hong Kong and 4 in mainland China, while closing 8 underperforming stores, resulting in a total of 182 stores by March 31, 2024[135] - The company introduced new products such as Thai-style series, Japanese-style beef rice, and laksa lunch sets to attract a broader customer base[40] - The company improved packaging costs for takeaway products and strategically adjusted menu prices based on seasonality[41] - The company introduced new menu items targeting younger coffee shop enthusiasts and high-end customers[132] - Effective food cost control measures helped reduce overall food costs despite rising raw material prices[133] Digitalization and Innovation - The company implemented digitalization measures, including kitchen management systems and mobile ordering and payment options in restaurants[23] - The "Fairwood APP" mobile application has over 730,000 members, up from 660,000 six months prior[111] - The company plans to optimize staff allocation, expand digital measures, and redesign work processes to address rising labor costs[141] Sustainability Initiatives - The company's solar panels have generated over 36,000 kWh of electricity since August 2023[114] - The company reduced the use of over 1 million single-use plastic utensils and donated over 35,000 meal boxes through its sustainability initiatives[145] Employee and Labor Costs - Employee costs increased to approximately HKD 1.1004 billion (2023: HKD 1.0205 billion)[121] - The company's long-service payment liability was HKD 28,850 thousand, with HKD 608 thousand classified as current liabilities[106] Tax and Depreciation - The company's deferred tax assets and liabilities were recognized for deductible and taxable temporary differences related to right-of-use assets and lease liabilities[5] - The company's current tax provision for Hong Kong profits tax was HKD 11,104 thousand, with deferred tax arising from temporary differences of HKD 3,408 thousand[100] - Depreciation expenses increased by HKD 17.2 million, from HKD 389.5 million to HKD 406.7 million, due to new store openings and lease modifications[95] - The company's depreciation expense for property, plant, and equipment increased by HKD 4.6 million to HKD 93.7 million due to increased store renovations[147] Interest and Financial Expenses - Interest income surged to HKD 28,113 thousand in 2024, nearly doubling from HKD 14,757 thousand in 2023[13] - The company's interest income was HKD 28,086 thousand, while interest expenses were HKD 30,748 thousand, resulting in a net interest expense of HKD 2,662 thousand[92] Government Subsidies - Government subsidies decreased significantly to HKD 1,416 thousand in 2024 from HKD 17,619 thousand in 2023, reflecting a reduction of approximately 92%[13] Capital Expenditure and Commitments - Capital expenditure (excluding right-of-use assets) increased to HKD 131.5 million in 2024, up from HKD 104.7 million in 2023, due to increased store renovations[148] - The company's outstanding capital commitments stood at HKD 24.3 million as of March 31, 2024 (2023: HKD 10.3 million)[118] Membership and Customer Engagement - The "Happy Elderly Card" membership exceeded 470,000, with an increase of over 30,000 members in the past six months[135] Cash Flow - The company's net cash generated from operating activities for the year ended March 31, 2024, was HKD 650,108,000, down from HKD 709,393,000 in the previous year[83] Return on Equity - The average return on equity increased to 7.6% in 2024 from 6.4% in 2023[143] Accounts Receivable and Payable - The company's accounts receivable within 1-30 days amounted to HKD 20,130 thousand, with total accounts receivable of HKD 20,460 thousand[104] - The company's provision for restoration costs of leased premises was HKD 73,237 thousand, with HKD 26,601 thousand classified as current liabilities[106] Shareholder Information - The company will suspend share transfer registration from September 4, 2024, to September 10, 2024, inclusive, for the annual general meeting[162] - No purchase, sale, or redemption of any listed securities by the company or its subsidiaries during the year ended March 31, 2024[163] - The full-year results announcement is available on the company's website (www.fairwoodholdings.com.hk) and the HKEX website (www.hkexnews.hk)[166] - The 2023/2024 annual report, containing all information required by the listing rules, will be sent to shareholders and published on the same websites in due course[166]

Financial Performance - For the six months ended September 30, 2023, the company's revenue was HKD 1,558,003,000, an increase from HKD 1,494,720,000 in the same period of 2022, representing a growth of approximately 4.3%[27] - The gross profit for the same period was HKD 146,508,000, compared to HKD 137,216,000 in 2022, indicating a year-over-year increase of about 6.3%[27] - The operating profit decreased to HKD 59,461,000 from HKD 63,542,000, reflecting a decline of approximately 6.5%[27] - The profit attributable to equity shareholders for the period was HKD 36,317,000, down from HKD 42,826,000 in the previous year, a decrease of about 15.2%[28] - The basic and diluted earnings per share for the six months ended September 30, 2023, were both 28.03 cents, compared to 33.06 cents in 2022, representing a decline of approximately 15.1%[27] - The total comprehensive income attributable to equity shareholders for the period was HKD 35,327,000, compared to HKD 37,135,000 in the previous period, representing a decrease of approximately 4.85%[29] - The profit before tax was HKD 43,409,000, a decrease of 8.4% compared to HKD 47,338,000 for the same period in 2022[61] - The total comprehensive income for the six months ended September 30, 2023, was HKD 36,317,000, compared to HKD 35,327,000 in the previous year, indicating a slight increase[71] Cash Flow and Assets - The net cash generated from operating activities for the six months ended September 30, 2023, was HKD 311,722,000, down from HKD 414,871,000 in the same period last year, a decline of about 25%[48] - The total assets as of September 30, 2023, amounted to HKD 1,492,921,000, slightly down from HKD 1,510,098,000 as of March 31, 2023, indicating a decrease of approximately 1.14%[41] - The cash and cash equivalents at the end of the period were HKD 483,150,000, a decrease from HKD 667,200,000 at the beginning of the period, reflecting a decline of around 27.6%[48] - The company reported a net cash outflow from investing activities of HKD 188,601,000 for the six months ended September 30, 2023, compared to HKD 77,949,000 in the previous year, indicating a significant increase in investment expenditures[48] - The total current assets of the group amounted to HKD 846,825,000, an increase from HKD 792,447,000 as of March 31, 2023[74] - The total current liabilities were HKD 909,062,000, up from HKD 817,224,000 as of March 31, 2023, indicating a net current liability position[74] Liabilities and Equity - The total liabilities increased to HKD 415,594,000 as of September 30, 2023, compared to HKD 400,536,000 as of March 31, 2023[17] - The total liabilities as of September 30, 2023, were HKD 834,585,000, compared to HKD 817,224,000 as of March 31, 2023, showing an increase of approximately 2.1%[43] - The total equity attributable to equity shareholders decreased to HKD 658,336,000 from HKD 680,629,000, representing a decline of about 3.3%[44] - The company’s lease liabilities as of September 30, 2023, were HKD 704,364,000, down from HKD 732,878,000, indicating a reduction of approximately 3.9%[44] Revenue and Costs - The total revenue for the six months ended September 30, 2023, was impacted by government subsidies of HKD 24,000,000 aimed at alleviating operational pressures due to the COVID-19 pandemic[62] - The cost of goods sold for the six months ended September 30, 2023, was HKD 384,488,000, a decrease from HKD 396,309,000 in the previous year, reflecting a 3.1% reduction[63] - Employee costs increased to HKD 540,343,000 for the six months ended September 30, 2023, up from HKD 480,734,000, representing a 12.4% increase[63] Dividends and Share Options - The interim dividend declared was HKD 0.11 per share, down from HKD 0.18 per share in the previous year, totaling HKD 14,251,000 compared to HKD 23,320,000[67] - The company granted 3,750,000 share options to existing holders and other employees at an exercise price of HKD 11.456, effective from July 5, 2024, with a total of 3,750,000 shares available for subscription[161] - The average exercise price of unexercised share options as of September 30, 2023 was HKD 11.46, down from HKD 17.41 as of March 31, 2023[163] Market Presence and Strategy - The company opened two new stores in the Greater Bay Area despite a slowing economy and reduced consumer spending[116] - The company plans to continue expanding its business in the Greater Bay Area and is optimistic about future growth due to its strong management team and brand reputation[120] - The company has implemented new strategies to expand its market presence, although specific details were not disclosed in the financial report[73] Sustainability and Initiatives - The company reduced approximately 93 tons of kitchen waste during the reporting period through sustainability initiatives[142] - The company successfully reduced food costs significantly due to expanded supplier range and global procurement strategies[140] Employee and Management - The group’s key management personnel compensation for the period was disclosed, reflecting the company's commitment to transparency[158] - The company reported employee benefits of 7,783,000 HKD for the six months ending September 30, 2023, compared to 7,637,000 HKD for the same period in 2022, reflecting a year-over-year increase of approximately 1.91%[184]

Financial Performance - Revenue increased by 4.2% from HKD 1,494.720 million to HKD 1,558.003 million[3] - Profit attributable to equity shareholders decreased from HKD 42.826 million to HKD 36.317 million[7] - Basic earnings per share decreased from 33.06 HK cents to 28.03 HK cents[5] - Operating profit for the period was HKD 59.461 million, down from HKD 63.542 million[5] - Profit before tax for the six months ended September 30, 2023, was HKD 43,409,000, compared to HKD 47,338,000 in the previous year, indicating a decrease of 8.5%[26] - The group reported a segment profit of HKD 55,430,000 for the six months ended September 30, 2023, down from HKD 67,120,000 in the same period last year, a decline of 17.4%[26] - Other income for the six months ended September 30, 2023, was HKD 18,284,000, compared to HKD 21,684,000 in the previous year, a decrease of 15.5%[28] - The group recognized a loss of HKD 1,030,000 from the valuation of investment properties for the six months ended September 30, 2023[26] - The group’s employee costs for the six months ended September 30, 2023, were HKD 540,343,000, an increase from HKD 480,734,000 in the previous year, reflecting a rise of 12.4%[30] - The group recognized impairment losses of HKD 6,312,000 for right-of-use assets and HKD 4,679,000 for other properties, machinery, and equipment during the reporting period[40] Cash Flow and Liquidity - Cash and cash equivalents as of September 30, 2023, amounted to HKD 686.626 million, up from HKD 646.758 million as of March 31, 2023[13] - The group reported a net cash inflow from operating activities of HKD 311.722 million, down from HKD 414.871 million in the previous year[13] - The current ratio decreased to 0.9 from 1.0 as of March 31, 2023, indicating a tighter liquidity position[66] - The net cash generated from operating activities during the reporting period was HKD 311.7 million, down from HKD 414.9 million in 2022[67] - The group had no bank loans as of September 30, 2023, maintaining a capital debt ratio of 0.0%[67] Assets and Liabilities - Total current assets increased to HKD 846.825 million from HKD 792.447 million[12] - Total liabilities increased from HKD 817.224 million to HKD 909.062 million[12] - Total assets as of September 30, 2023, amounted to HKD 2.3397 billion, an increase from HKD 2.3025 billion as of March 31, 2023[66] - Accounts receivable (net of loss provisions) increased to HKD 16,373,000 from HKD 9,663,000 as of March 31, 2023[42] - The total accounts payable and accrued expenses increased to HKD 394,512,000 from HKD 376,664,000 as of March 31, 2023[43] Dividends and Shareholder Returns - The company declared an interim dividend of 11.0 HK cents per share[3] - The interim dividend declared per share was HKD 0.11, down from HKD 0.18 in 2022, resulting in a total of HKD 14,251,000 compared to HKD 23,320,000 in the previous year[35] - The interim dividend declared for the six months ended September 30, 2023, is HKD 0.11 per share, representing approximately 39% of the profit attributable to equity shareholders for the period[76] Business Operations and Strategy - The group successfully launched the "GYM Chicken Breast Set" targeting health-conscious customers, leading to a significant increase in sales and brand awareness[49] - The group implemented comprehensive cost management strategies, resulting in a notable reduction in food costs due to global sourcing and optimization measures[51] - The group introduced the "Croissant Waffle" afternoon tea set, which received positive feedback and increased interest among target customers[50] - Same-store sales growth in the Greater Bay Area achieved double-digit growth, with two new stores opened[60] - The company plans to focus on improving profit margins and expanding its target customer base in the short term[63] Market and Customer Engagement - Revenue from external customers in Hong Kong restaurants was HKD 1,460,769,000, up from HKD 1,417,757,000, reflecting a growth of 3.0%[25] - The number of members using the online application exceeded 660,000, contributing to customer retention and acquisition[56] - The company reduced food waste by approximately 93 tons during the period, receiving extensive media coverage valued at over HKD 4.7 million[57] - The number of restaurants in Hong Kong remained at 144, with 10 specialty restaurants maintained[59] Taxation - The estimated effective tax rate for the six months ended September 30, 2023, remained at 16.5%, consistent with the previous year[33] - The group reported a tax loss in mainland China for the six months ended September 30, 2023, resulting in no corporate income tax provision for that period[34] Employee and Compensation - The total number of employees remained stable at approximately 5,600 as of September 30, 2023[74] - The group has committed to providing competitive compensation and benefits to eligible employees based on performance and other factors[74]

2022 — 2023 報 ANNUAL REPORT 年 person and ICE 42 800 alan Stand 11: 2 2 1 Zed B te i 公司資料 Corporate Information Executive Directors Dennis Lo Hoi Yeung (Executive Chairman) Lo Fai Shing Francis (Chief Executive Officer) Peggy Lee Joseph Chan Kai Nin Peter Lau Kwok Kuen Peter Wan Kam To Yip Cheuk Tak AUDIT COMMITTEE 薪酬委員會 提名委員會 陳鏡東 核數師 畢馬威會計師事務所 於《會計及財務匯報局條例》下的 註冊公眾利益實體核數師 大快送 Fairwood 大 快 活 集 團 有 限 公 司 FAIRWOOD HOLDINGS LIMITED ( 龄 百 慕 建 註 用 成 立 之 有 限公 司 ) (Incorporated in Bermuda with Limited Liability) 殷骠编 ...

Financial Performance - The annual profit for the year was HKD 44.9 million, an increase of 5.3% compared to last year (HKD 42.6 million) [2] - Revenue for the year was HKD 3.024 billion, representing a growth of 4.9% from HKD 2.882 billion in the previous year [2] - Basic earnings per share increased to HKD 0.3464, up 5.3% from HKD 0.3291 in the previous year [2] - The group reported a pre-tax profit of HKD 51.664 million for the year ending March 31, 2023, compared to HKD 47.804 million in 2022, representing an increase of 5.8% [58] - Profit attributable to equity shareholders rose by 5.3% to HKD 44.9 million (2022: HKD 42.6 million) [94] - The group's comprehensive pre-tax profit for 2023 was HKD 51,664,000, an increase from HKD 47,804,000 in 2022, indicating a positive trend in profitability [83] Dividends - The proposed final dividend is HKD 0.40 per share, with a special final dividend of HKD 0.05 per share, resulting in a total annual dividend of HKD 0.63 per share and a payout ratio of approximately 182% [2] - The board proposed a final dividend of HKD 0.40 per share and a special final dividend of HKD 0.05 per share, totaling an annual dividend of HKD 0.63 per share, which represents approximately 182% of the group's annual profit [24] - The company declared an interim dividend of HKD 0.18 per share and a proposed final dividend of HKD 0.40 per share [90] Financial Position - The group maintained a strong financial position with cash and cash equivalents amounting to HKD 646.8 million as of March 31, 2023, up from HKD 557.1 million in the previous year [2] - The company maintains a strong financial position with no borrowings, thus not affected by interest rate risks [30] - The group has no bank loans and a debt ratio of zero as of March 31, 2023 [2] - The maximum debt obligation under guarantees for bank standby credits was HKD 88.9 million, with no significant risk of claims anticipated [22] - The group's total current assets as of March 31, 2023, amounted to HKD 792,447,000, an increase from HKD 769,484,000 in 2022, while total current liabilities rose to HKD 817,224,000 from HKD 782,322,000 [74] Store Operations - The group opened 7 new stores and closed 5 stores, resulting in a total of 147 fast-food outlets in Hong Kong by the end of the year [44] - The company opened 12 new stores during the year, with 8 located in Hong Kong and 4 in mainland China, while closing 10 underperforming stores [121] - As of March 31, 2023, the company operates a total of 179 stores, including 157 in Hong Kong and 22 in mainland China [121] Cost Management - The group faced significant challenges due to rising food costs and labor shortages, prompting cost-reduction measures such as sourcing directly from reliable suppliers [119] - The group has optimized packaging, particularly for takeaway items, to reduce costs and improve efficiency [119] - The group has negotiated more favorable leasing terms with landlords to alleviate operational pressures [119] - The company has implemented detailed cost-saving and productivity improvement strategies that have been effective over the years and will continue to be enforced [31] Customer Engagement - The company launched the "Dai Hoi Hoi APP" to attract younger customers, with over 500,000 members registered by year-end [96] - The company held a 50th anniversary celebration to promote post-pandemic business recovery, achieving 5.2 million total views on social media [95] - The group experienced a strong sales boost from the reintroduction of seven nostalgic menu items during its anniversary celebration [118] - Same-store sales growth increased by approximately 5% year-on-year, with a stable growth in customer per capita spending [120] - Takeaway sales accounted for about 36% of total sales, higher than pre-pandemic levels, indicating its continued importance in the business [120] Employee Management - The group launched a 50th-anniversary employee appreciation campaign, including various activities to improve employee retention and morale [97] - The group implemented digital training programs for employees to enhance skills and career opportunities, addressing high employee turnover in the restaurant industry [97] Challenges and Outlook - The company is optimistic about the performance of its mainland business in the coming months, despite challenges in refining its business model [31] - The company anticipates that food costs and labor-related pressures will not decrease in the near future [31] - The group's same-store sales in mainland China decreased by 7% due to pandemic-related restrictions, significantly impacting business operations [98] - The group continues to open new stores in mainland China, with a focus on smaller locations and a higher proportion of takeaway sales, aiming to enhance profitability despite lower sales intensity [98] Asset Management - The group recorded a net impairment loss on property, plant, and equipment of HKD 14,033,000 in 2023, down from HKD 18,960,000 in 2022, indicating an improvement in asset management [83] - The group reported a net loss from investment properties of HKD 4,840,000 in 2023, compared to a loss of HKD 1,730,000 in 2022, representing a significant increase in losses [83] - Other income for the group in 2023 was HKD 41,514,000, a decrease from HKD 76,263,000 in 2022, showing a decline of approximately 45.5% [85] Capital Expenditure - Capital expenditure for the year was approximately HKD 104.7 million, an increase from HKD 74.6 million in the previous year, attributed to new store openings and renovations [37] - Financing costs recorded during the reporting period were HKD 31.7 million, a slight decrease from HKD 32.4 million in the previous year [35] - Depreciation expenses for other properties, machinery, and equipment decreased by HKD 1.8 million to HKD 89.1 million due to reduced renovation works [34]