叙福樓集團有限公司 股份代號：1978 (於開曼群島註冊成立的有限公司) Stock Code ：1978 (Incorporated in the Cayman Islands with limited liability) 焼肉デート行こ！ 焼肉デート行こ！ 叙福樓集團有限公司 ANNUAL REPORT 年報 2024 目錄 | 公司資料 | 2 | | --- | --- | | 財務摘要及日程表 | 4 | | 主席致辭 | 5 | | 管理層討論與分析 | 8 | | 董事及高級管理層 | 15 | | 董事報告 | 19 | | 企業管治報告 | 32 | | 環境、社會及管治報告 | 50 | | 獨立核數師報告 | 95 | | 合併全面收益表 | 100 | | 合併財務狀況表 | 101 | | 合併權益變動表 | 103 | | 合併現金流量表 | 104 | | 合併財務報表附註 | 105 | | 財務資料摘要 | 173 | | 本集團所持的物業 | 174 | 公司資料 董事會 執行董事 黃傑龍先生 教授，銅紫荊星章，太平紳士 （主席兼行政總裁） 高秀芝女士 （副主席） 獨立非 ...

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告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或 因依賴該等內容而引致的任何損失承擔任何責任。 LH GROUP LIMITED （於開曼群島註冊成立的有限公司） （股份代號：1978） 截至二零二四年十二月三十一日止年度的 年度業績公告 | 財務摘要 | | | | --- | --- | --- | | | 截至十二月三十一日止年度 | | | | 二零二四年 | 二零二三年 | | | 百萬港元 | 百萬港元 | | 收入 | 1,056.0 | 1,276.8 | | 本公司股東應佔（虧損）╱溢利 | (32.1) | 88.1 | | 每股（虧損）╱盈利 | | | | 基本及攤薄 （港仙） | (4.01) | 11.01 | 業績 叙福樓集團有限公司（「本公司」）董事（「董事」）會（「董事會」）公佈本公司及其 附屬公司（統稱「本集團」或「我們」）截至二零二四年十二月三十一日止年度的 經審核合併業績，連同截至二零二三年十二月三十一日止年度的比較數字如下： – 1 – 合併全面收益表 截 ...

Revenue Performance - Revenue decreased by 20.9% to HK$522.6 million in the first half of 2024 compared to HK$660.5 million in the same period last year[19] - Franchised brand revenue decreased by 20.4% to HK$384.7 million, accounting for 73.6% of total revenue[19] - Owned brand revenue decreased by 21.8% to HK$136.0 million[19] - Revenue for the six months ended June 30, 2024, was HK$522.61 million, a decrease from HK$660.51 million in the same period in 2023[51] - Revenue from restaurant operations and ingredient sales decreased to HK$522.61 million in 2024 from HK$660.51 million in 2023, representing a decline of 20.9%[63] - Revenue from the company's own brands decreased to HK$136.01 million in 2024 from HK$173.99 million in 2023, a decline of 21.8%[67] - Revenue from franchised brands decreased to HK$384.65 million in 2024 from HK$483.37 million in 2023, a decline of 20.4%[67] Costs and Expenses - Food and beverage costs decreased by 19.4% to HK$162.3 million, representing 31.1% of revenue[21] - Employee costs decreased by 4.3% to HK$194.5 million, representing 37.2% of revenue[22] - Depreciation, rent, and related expenses for right-of-use assets decreased by 8.4% to HK$90.1 million[23] - Employee costs decreased to HK$194.463 million for the six months ended June 30, 2024, from HK$203.22 million in the same period in 2023[51] - Employee benefits expenses, including wages and salaries, amounted to HKD 172,627,000, with discretionary bonuses totaling HKD 11,136,000[76] - Total employee benefits and short-term compensation increased to 4,924 thousand HKD in 2024 from 4,806 thousand HKD in 2023[102] Financial Performance and Losses - The company reported a loss of HKD 26.5 million for the period, compared to a profit of HKD 47.6 million in the same period last year, primarily due to a 20.9% decrease in revenue and increased impairment provisions for property, plant, and equipment[24] - Net loss attributable to shareholders for the six months ended June 30, 2024, was HK$26.535 million, compared to a profit of HK$47.55 million in the same period in 2023[51] - The company recorded a loss before tax of HK$32.069 million for the six months ended June 30, 2024, compared to a profit of HK$56.207 million in the same period in 2023[51] - The company recorded a net loss of HK$26,535 thousand for the six months ended June 30, 2024[54] - The company reported a basic loss per share of HKD 3.32 cents, based on a loss attributable to shareholders of HKD 26,535,000 and 800,000,000 issued ordinary shares[78][79] Assets and Liabilities - As of June 30, 2024, the company's short-term bank deposits were HKD 56.4 million (down from HKD 105.1 million as of December 31, 2023), and cash and cash equivalents were HKD 137.9 million (down from HKD 147.7 million as of December 31, 2023)[25] - The company's current assets and current liabilities as of June 30, 2024, were HKD 264.4 million (down from HKD 325.2 million as of December 31, 2023) and HKD 320.0 million (up from HKD 293.7 million as of December 31, 2023), respectively, resulting in a current ratio of 0.8x (down from 1.1x as of December 31, 2023)[25] - Total assets as of June 30, 2024, were HK$691.63 million, down from HK$759.65 million as of December 31, 2023[52] - Property, plant, and equipment increased to HK$101.235 million as of June 30, 2024, from HK$96.753 million as of December 31, 2023[52] - Right-of-use assets decreased to HK$212.566 million as of June 30, 2024, from HK$239.197 million as of December 31, 2023[52] - Cash and cash equivalents stood at HK$137.878 million as of June 30, 2024, down from HK$147.657 million as of December 31, 2023[52] - Total equity decreased from HK$297,407 thousand to HK$238,392 thousand as of June 30, 2024, compared to December 31, 2023[53] - Current liabilities exceeded current assets by HK$55,639 thousand as of June 30, 2024[58] - The company's cash and cash equivalents, along with short-term bank deposits, totaled HK$194,273 thousand as of June 30, 2024[58] - Total segment assets decreased to HK$466.98 million in 2024 from HK$470.02 million in 2023[70] - Total segment liabilities increased to HK$391.75 million in 2024 from HK$375.56 million in 2023[70] - Right-of-use assets for restaurants decreased to HKD 206,519,000 as of June 30, 2024, from HKD 231,134,000 at the end of December 2023[85] - Lease liabilities as of June 30, 2024, totaled HKD 237,781,000, with current liabilities at HKD 127,407,000 and non-current liabilities at HKD 110,374,000[85] - Trade receivables from external customers decreased to HKD 6,344,000 as of June 30, 2024, from HKD 10,174,000 as of December 31, 2023[92] - Trade payables to external suppliers increased to HKD 55,653,000 as of June 30, 2024, from HKD 45,479,000 as of December 31, 2023[98] - Contract liabilities increased to HKD 39,390,000 as of June 30, 2024, from HKD 36,541,000 as of December 31, 2023[99] - The company's prepayments and deposits for rent and utilities increased to HKD 78,118,000 as of June 30, 2024, from HKD 74,865,000 as of December 31, 2023[94] - The company's total current liabilities increased to HKD 128,217,000 as of June 30, 2024, from HKD 126,585,000 as of December 31, 2023[99] - The company's total non-current liabilities decreased to HKD 53,110,000 as of June 30, 2024, from HKD 50,242,000 as of December 31, 2023[94] - The company's total equity remained unchanged at HKD 80,000,000 as of June 30, 2024, compared to the same period last year[97] Dividends and Shareholder Information - The company declared an interim dividend of HK$0.0475 per share and a special dividend of HK$0.125 per share[16] - No interim dividend declared for the current period[37] - No interim dividend was recommended for the six months ended June 30, 2024[81] - Directors and key executives hold a combined 75% stake in the company through associated entities[45][46] - Mr. Wong Kit Lung holds a 29.03% stake in associated entity Sufood Holdings, while Ms. Ko Sau Chi holds a 10.01% stake[47] - Shareholders holding 75% of the company's shares include 叙福樓控股, 高爵權先生, 黃耀鏗先生, 廖祥先生, 廖志鴻先生, 劉廣坤先生, 合群, 林群英先生, and 陳惠珍女士[48][49] - 叙福樓控股, registered in the British Virgin Islands, holds 29.03% of the company's shares, with other key shareholders holding between 2.99% and 11.99%[49] Operational Highlights - The company operated 58 restaurants as of June 30, 2024, including 14 owned brands and 44 franchised brands[17] - The company opened its first "挽肉と米" restaurant in Hong Kong in May 2024, which has been highly successful with over 300 customers queuing on the opening day and online reservations consistently fully booked[35] - The company launched a new customer relationship management system and a new membership app in 2024 to better understand customer needs and enhance service quality[36] - The company has implemented strategic measures to expand revenue sources and reduce expenses, including negotiating lower rents with property owners and securing more favorable terms with suppliers[36] - The company expects the local consumption market to improve rapidly after potential US interest rate cuts, with factors such as the potential impact of the HKD exchange rate, improved consumer spending power, and lower market financing costs positively affecting local consumption[36] Corporate Governance and Compliance - The company maintained a minimum public float of 25% of issued shares as required by the Hong Kong Stock Exchange[38] - The company has adopted the Corporate Governance Code and complies with most of its provisions, except for the separation of Chairman and CEO roles, which are both held by Mr. Wong Kit Lung[39][40] - No purchase, sale, or redemption of listed securities by the company or its subsidiaries during the period[42] - The Audit Committee, composed of three independent non-executive directors, reviewed the unaudited interim financial results[43] - Changes in board composition: Mr. Mak Kam Chiu appointed as independent non-executive director and Audit Committee Chairman, while Ms. Hung Lo Shan resigned from these positions[44] Taxation and Financial Reporting - Hong Kong profits tax provision for the six months ended June 30, 2024, was calculated at a rate of 16.5%, with a subsidiary qualifying for a two-tier tax rate of 8.25% on the first HKD 2,000,000 of taxable profits[75] - Current income tax expense for the period was HKD 2,557,000, while deferred tax credit was HKD 8,091,000, resulting in a net tax credit of HKD 5,534,000[75] - The company adopted revised Hong Kong Financial Reporting Standards effective from January 1, 2024, with no significant impact on financial performance[61] Impairment and Depreciation - Impairment loss on property, plant, and equipment for the period was HKD 8,744,000, significantly higher than the HKD 653,000 recorded in the same period last year[84] - Depreciation of property, plant, and equipment for the period was HKD 15,310,000, a decrease from HKD 19,920,000 in the same period last year[76] - Depreciation of right-of-use assets increased slightly to HK$59.21 million in 2024 from HK$58.84 million in 2023[73] - The company recognized an impairment loss on right-of-use assets of HKD 10,066,000 for the period, compared to HKD 412,000 in the same period last year[90] Cash Flow and Financing - Cash and cash equivalents decreased by HK$48,922 thousand to HK$147,540 thousand as of June 30, 2024[56] - Operating cash flow from business activities was HK$156,974 thousand for the six months ended June 30, 2024[56] - Investment activities resulted in a net cash outflow of HK$79,331 thousand, primarily due to the purchase of property, plant, and equipment[56] - Financing activities resulted in a net cash outflow of HK$123,664 thousand, mainly due to dividend payments and lease principal repayments[56] - Total lease cash outflow for the period was approximately HKD 70,685,000, compared to HKD 76,842,000 in the same period last year[87] - Variable lease payments for certain properties are linked to restaurant sales, ranging from 6% to 15% of sales[89] Segment Performance - Segment loss for own brands was HK$14.22 million in 2024, compared to a segment profit of HK$14.90 million in 2023[67][69] - Segment profit for franchised brands decreased to HK$15.24 million in 2024 from HK$73.23 million in 2023, a decline of 79.2%[67][69] Other Financial Metrics - Other income and gains decreased by 12.6% to HK$2.2 million[20] - Financing income decreased to HK$3.85 million in 2024 from HK$6.66 million in 2023[74] - Financing costs increased to HK$5.85 million in 2024 from HK$4.61 million in 2023[74] - Capital commitments for lease renovations increased to 9,192 thousand HKD as of June 30, 2024, compared to 1,942 thousand HKD as of December 31, 2023[100] - The company's property holdings remained unchanged as of June 30, 2024[103] - The company holds investment properties in Kowloon and New Territories, including residential units and workshop spaces[104]

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告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或 因依賴該等內容而引致的任何損失承擔任何責任。 LH GROUP LIMITED （於開曼群島註冊成立的有限公司） （股份代號：1978） 截至二零二四年六月三十日止六個月的 中期業績公告 | --- | --- | --- | |---------------------------------------|----------------------------------------------|---------------------| | | | | | 財務摘要 | | | | | 截至六月三十日止六個月 二零二四年 百萬港元 | 二零二三年 百萬港元 | | 收入 | 522.6 | 660.5 | | 本公司股東應佔（虧損）╱溢利 | (26.5) | 47.6 | | 每股（虧損）╱盈利 基本及攤薄 （港仙） | (3.32) | 5.94 | 業績 叙福樓集團有限公司（「本公司」）董事（「董事」）會（「董事會」）公佈本公司及其 ...

叙福樓集團有限公司 股份代號：1978 (於開曼群島註冊成立的有限公司) 2023 年 報 目錄 | 公司資料 | 2 | | --- | --- | | 財務摘要及日程表 | 4 | | 主席致辭 | 5 | | 管理層討論與分析 | 8 | | 董事及高級管理層 | 17 | | 董事報告 | 21 | | 企業管治報告 | 34 | | 環境、社會及管治報告 | 52 | | 獨立核數師報告 | 97 | | 合併全面收益表 | 102 | | 合併財務狀況表 | 103 | | 合併權益變動表 | 105 | | 合併現金流量表 | 106 | | 合併財務報表附註 | 107 | | 財務資料摘要 | 171 | | 本集團所持的物業 | 172 | 公司資料 董事會 執行董事 黃傑龍先生 教授，銅紫荊星章，太平紳士 （主席兼行政總裁） 高秀芝女士 （副主席） 獨立非執行董事 單日堅先生 銀紫荊星章，香港懲教事務卓越獎章，太平紳士 熊璐珊女士 洪爲民先生 教授，太平紳士 審核委員會 熊璐珊女士 （主席） 洪爲民先生 教授，太平紳士 單日堅先生 銀紫荊星章，香港懲教事務卓越獎章，太平紳士 薪酬委員會 ...

Financial Performance - Revenue for the year ended December 31, 2023, was HKD 1,276.8 million, an increase of 20.1% from HKD 1,063.2 million in 2022[4] - Profit attributable to shareholders for the year was HKD 88.1 million, up 13.5% from HKD 77.7 million in the previous year[4] - Basic and diluted earnings per share increased to HKD 11.01, compared to HKD 9.71 in 2022, reflecting a growth of 13.4%[4] - The company reported a pre-tax profit of HKD 104.4 million, compared to HKD 84.4 million in 2022, reflecting a growth of 23.7%[4] - The company reported a net profit attributable to shareholders of HKD 88,065,000 for 2023, up from HKD 77,705,000 in 2022, resulting in a basic earnings per share of 11.01 HK cents[52] - Core profit before tax for the year ended December 31, 2023, was approximately HKD 116.2 million, representing a growth of about 141.2% from approximately HKD 48.2 million for the year ended December 31, 2022[108] - The profit for the year ended December 31, 2023, increased by approximately 13.3% or about HKD 10.4 million to approximately HKD 88.1 million compared to HKD 77.7 million for the year ended December 31, 2022[118] Assets and Liabilities - The total equity attributable to shareholders decreased to HKD 297.4 million from HKD 409.5 million in 2022, a decline of 27.3%[8] - Total assets as of December 31, 2023, were HKD 759.7 million, down from HKD 846.6 million in 2022, representing a decrease of 10.3%[10] - Non-current liabilities increased to HKD 168.5 million from HKD 149.0 million in 2022, an increase of 13.5%[12] - The company's total liabilities were reported at HKD 372,681,000, with a breakdown of segment liabilities including trade payables and lease liabilities[41] - Total liabilities for the company were HKD 462,244,000 as of December 31, 2023, compared to HKD 437,090,000 in the previous year[61] - As of December 31, 2023, the group's current assets and current liabilities were approximately HKD 325.2 million and HKD 293.7 million, respectively, resulting in a current ratio of about 1.1 times, down from 1.5 times in 2022[150] Costs and Expenses - Food and beverage costs rose to HKD 391.3 million, up 16.8% from HKD 334.8 million in the previous year[4] - Employee costs increased significantly to HKD 380.3 million, a rise of 28.1% from HKD 296.8 million in 2022[4] - The company's food and beverage costs rose by approximately 16.9% or about HKD 56.5 million to approximately HKD 391.3 million for the year ended December 31, 2023[115] - Depreciation of right-of-use assets and related rental expenses increased by approximately 12.8% or about HKD 21.9 million to approximately HKD 192.9 million for the year ended December 31, 2023, due to an increase in the number of restaurants from 53 to 57[116] Dividends - The company proposed a final dividend of HKD 4.06 per share, with a total payout ratio of approximately 194% including interim and special dividends[17] - The company plans to distribute a final dividend of HKD 0.0406 per share, totaling HKD 32,480,000, subject to shareholder approval[70] - The total dividend payout for the year, including an interim dividend of HKD 0.0475 and a special dividend of HKD 0.125, amounts to HKD 0.2131 per share, representing a total payout ratio of approximately 194%[135] - The proposed final dividend is subject to approval at the annual general meeting and, if approved, will be paid on June 27, 2024[175] Operational Highlights - The segment profit for the restaurant operations was HKD 30,625,000, compared to HKD 8,136,000 in the previous year, reflecting a significant improvement[39] - Revenue from self-owned brands increased by approximately HKD 68.5 million or 25.1% to HKD 341.4 million for the year ended December 31, 2023, compared to HKD 273.0 million in the previous year[87] - Revenue from franchised brands increased by approximately HKD 143.2 million or about 18.2% to approximately HKD 928.1 million for the year ended December 31, 2023, driven by an increase in the number of franchised restaurants from 37 to 41[112] - The company operated 16 self-owned restaurants and 41 franchised restaurants, catering to a diverse customer base[84] - The number of restaurants operated increased from 53 to 57 during the year ended December 31, 2023[142] - The company plans to launch a new franchise brand restaurant in Central in Q2 2024, expanding its presence in the fast-casual dining sector[132] Strategic Focus - The management is focused on strategic resource allocation based on performance evaluations of different business segments[35] - The company plans to continue expanding its restaurant operations and enhancing its product offerings in the coming year[33] - The management team aims to enhance operational efficiency and market responsiveness through improved internal processes and effective operational strategies[157] - The group plans to focus on brand revitalization, launching new brands through various collaboration models, and expanding its store network while introducing innovative products[157] - The company is actively communicating with suppliers to mitigate rising food costs and is introducing automation and AI systems to alleviate labor pressures in restaurants[173] Market Outlook - The group anticipates a more challenging market for the Hong Kong restaurant industry in 2024 due to weak consumer demand and a sluggish local property and stock market[157] - The company has shown strong adaptability in response to market changes despite challenges in the business environment, particularly in the restaurant sector[82] Compliance and Governance - The audit committee, along with the management, reviewed the consolidated annual results for the year ending December 31, 2023, and confirmed compliance with applicable accounting standards and regulations[181] - The company did not engage in any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[124] - The company and its subsidiaries did not purchase, sell, or redeem any of the company's listed securities during the year ending December 31, 2023[180] - The company has no significant contingent liabilities as of December 31, 2023[129]

LHGROUP 叙福樓集團 2023 中期業績 報告 叙福樓集團有限公司 是群島註冊成立的有限公 股份代號：1978 QUALITY SERVICE AUTOMATION MULTI-BRAND STRATEGY WORKFLOW MANAGEMENT PASSION PROFESSIONALISM GROWTH MINDSET COST CONTROL CUSTOMER SATISFACTION POSITIVITY D MARKETING g D FIDI CREATIVITY TEAMWORK STORE NETWORK EXPANSAION PEOPLE DEVELOPMENT DIGITAL TRANSFORMATION VALUE FOR MONEY CHANGE ARTIFICIAL INTELLIGENCE 公司資料 2 管理層討論與分析 5 未經審計簡明合併全面收益表 18 未經審計簡明合併權益變動表 21 財務報告附註 23 公司資料 董事會 獨立非執行董事 授權代表 財務摘要及日程表 4 其他資料 14 簡明合併財務狀況表 19 未經審計簡明合併現金流量表 22 本集團所持的物業 40 ...

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告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或 因依賴該等內容而引致的任何損失承擔任何責任。 LH GROUP LIMITED （於開曼群島註冊成立的有限公司） （股份代號：1978） 截至二零二三年六月三十日止六個月的 中期業績公告 財務摘要 截至六月三十日止六個月 二零二三年 二零二二年 百萬港元 百萬港元 收入 660.5 400.0 ...

本集團以內部產生現金流量及本公司股東注資為其業務撥付資金。於二零二二年十二月三十一日， 本集團的短期銀行存款約為145.5百萬港元（二零二一年：約83.4百萬港元）以及現金及現金等價物約 為196.5百萬港元（二零二一年：約241.9百萬港元）。大部分銀行存款及現金以港元計值。本集團將 繼續動用內部產生現金流量及本公司股東注資作為未來發展的資金來源。 截至二零二二年十二月三十一日止年度內並無授出購股權。自購股權計劃採納日期及直至二零二二 年十二月三十一日，本公司並無根據購股權計劃授出任何購股權，而購股權計劃項下亦無未行使購 股權。 外匯風險 本集團大部分交易以港元計值，而本集團並無面臨任何重大外匯風險。於二零二二年十二月三十一 日，本集團並無任何外匯投資，亦無進行任何貨幣對沖交易或訂立任何對沖工具。 於本報告日期，本集團並無進行任何資產負債表外交易，及於二零二二年十二月三十一日並無任何 資本承擔或重大投資或資本資產的特定計劃。 於二零二二年初，香港爆發第五波COVID-19疫情（「疫情」），其時香港政府實施嚴格的堂食限制及社 交距離措施，對本集團的業務產生負面影響。本集團的餐廳亦於二零二二年初因為疫情嚴峻而短 ...

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告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或 因依賴該等內容而引致的任何損失承擔任何責任。 LH GROUP LIMITED （於開曼群島註冊成立的有限公司） （股份代號：1978） 截至二零 二二年十二月三十一日止年度的 年度 業績公告 財務摘要 截至十二月三十一日止年度 二零二二年 二零二一年 百萬港元 百萬港元 收入 1,063.2 997.9 ...