Revenue Performance - Total revenue for the six months ended June 30, 2024, was $370.9 million, a 14.5% increase from $323.9 million in the same period of 2023[2] - For the six months ended June 30, 2024, the group's revenue was $370.9 million, an increase of 14.5% compared to $323.9 million for the same period in 2023, primarily driven by a $43.8 million increase in revenue from Haidilao restaurant operations[6] - Revenue from Haidilao restaurant operations for the six months ended June 30, 2024, was $356.5 million, a 14.0% increase from $312.7 million in the same period of 2023, attributed to the recovery of the international dining market and efforts to enhance customer traffic and table turnover[7] - Same-store sales for the group totaled $323.2 million for the six months ended June 30, 2024, up from $298.8 million in the same period of 2023, indicating a positive trend in existing restaurant performance[13] - Revenue from takeout business for the six months ended June 30, 2024, was $5.2 million, a 20.9% increase from $4.3 million in the same period of 2023, driven by enhanced brand influence[16] - Revenue from other sources for the six months ended June 30, 2024, was $9.2 million, a 33.3% increase from $6.9 million in the same period of 2023, reflecting growing popularity of hot pot condiments and related products[17] Customer Engagement - Total customer traffic reached 14.5 million for the six months ended June 30, 2024, compared to 12.3 million in the same period of 2023, reflecting a significant increase in customer engagement[11] - The average table turnover rate reached 3.8 times per day, an increase of 0.5 times compared to 3.3 times in the same period of 2023[3] - The average daily sales per same-store for Southeast Asia was $15.5 thousand, slightly up from $15.2 thousand in the same period of 2023[14] Restaurant Expansion - The number of restaurants increased to 122, up from 115 in the same period last year, with a net addition of 7 restaurants[3] - The company opened eight new restaurants in the first half of 2024, including five in Southeast Asia, two in North America, and one in East Asia[3] - As of June 30, 2024, the restaurant network expanded to 122 locations across 13 countries, with a total revenue of $356.5 million, representing 100% of the group's restaurant revenue[8] Financial Performance - The company recorded a net loss of $4.6 million, compared to a net profit of $3.4 million in the same period last year, a decrease of $8.0 million[5] - The operating profit for the period was $120.9 million, a decrease of 1.4% compared to $121.2 million in the same period last year[5] - The net loss for the six months ended June 30, 2024, was $4.6 million, compared to a net profit of $3.4 million in the same period of 2023, primarily due to an increase in foreign exchange losses[28] - Total comprehensive income for the period was $8,603 thousand, down from $14,960 thousand in the previous year, representing a decrease of 42.1%[42] - The group reported a net loss of $(4,583,000) for the six months ended June 30, 2024, compared to a profit of $3,541,000 in the same period of 2023[61] Cost Management - Raw materials and consumables cost for the six months ended June 30, 2024, was $124.6 million, a 14.0% increase from $109.3 million in the same period of 2023, with a stable revenue percentage of 33.7% and 33.6% respectively[18] - Employee costs for the six months ended June 30, 2024, were $126.3 million, a 17.3% increase from $107.7 million in the same period of 2023, with the percentage of revenue rising from 33.3% to 34.1%[19] - Rental and related expenses for the six months ended June 30, 2024, were $9.1 million, a 44.4% increase from $6.3 million in the same period of 2023, primarily due to new restaurant openings[20] - Other expenses for the six months ended June 30, 2024, were $33.1 million, a 19.1% increase from $27.8 million in the same period of 2023, with the percentage of revenue increasing from 8.6% to 8.9%[24] Asset Management - As of June 30, 2024, the company's inventory was $26.6 million, a decrease of 10.7% from $29.8 million as of December 31, 2023, primarily due to high inventory levels approaching year-end to prepare for peak business season[29] - Inventory turnover days decreased from 42.8 days as of December 31, 2023, to 40.7 days as of June 30, 2024, attributed to optimized inventory management processes[29] - Trade and other receivables remained stable at $31.6 million as of December 31, 2023, and $31.7 million as of June 30, 2024[30] - Cash and cash equivalents were $140.7 million as of June 30, 2024, down 8.0% from $152.9 million as of December 31, 2023, mainly due to net purchases of financial assets[34] Future Outlook - The company is actively exploring new business formats, including fast food and halal hot pot, under the "Pomegranate Plan" to support innovation and growth[4] - The company plans to continue expanding its restaurant network and exploring new business models, including strategic acquisitions and partnerships, to enhance its customer base and operational efficiency[6] - The company continues to face seasonal fluctuations in business performance due to local holidays and weather conditions, which may impact future earnings[48] Governance and Compliance - The group has maintained compliance with the Corporate Governance Code throughout the reporting period[82] - The company has no significant contingent liabilities or major lawsuits that could adversely affect its business or financial condition as of June 30, 2024[39]
特海国际(09658) - 2024 - 中期业绩