Financial Performance - Jiumaojiu International Holdings Limited reported a significant increase in revenue, achieving HK200 million in research and development for new product lines, focusing on enhancing customer experience and menu diversity[3]. - The Company is focusing on expanding its market presence and enhancing brand recognition through new product offerings and marketing strategies[20]. - Future strategies include leveraging data analytics to improve customer experience and operational efficiency[155]. - The Group has commenced the construction of a supply chain center in Southern China and a central kitchen in Eastern China to enhance supply chain capabilities[46]. - The Group continues to seek potential targets for investment in the catering service industry to create synergies with its business[45]. Financial Position and Liabilities - The Group's total assets increased from RMB 6,520.9 million as of December 31, 2023, to RMB 6,525.2 million as of June 30, 2024[118]. - Total liabilities rose from RMB 3,163.9 million as of December 31, 2023, to RMB 3,359.9 million as of June 30, 2024, resulting in a liabilities-to-assets ratio increase from 48.5% to 51.5%[121]. - Cash and cash equivalents decreased by 32.4% from RMB 1,326.9 million as of December 31, 2023, to RMB 897.2 million as of June 30, 2024[122]. - Lease liabilities increased by 5.3% from RMB 2,084.5 million as of December 31, 2023, to RMB 2,194.5 million as of June 30, 2024, mainly due to restaurant network expansion[127]. Shareholder Information and Corporate Governance - The Board did not recommend the payment of an interim dividend for the six months ended June 30, 2024, consistent with the previous year where no dividend was paid[134]. - The Company has complied with all provisions of the Corporate Governance Code during the six months ended June 30, 2024, except for a deviation from code provision C.2.1[166]. - The Audit Committee consists of three independent non-executive Directors, ensuring independent review of the Group's financial information and internal controls[169]. - The Company emphasizes maintaining high standards of ethics, transparency, and accountability in its operations[166]. - The Group's success depends on its ability to attract, retain, and motivate qualified personnel[134]. Share Repurchase and Stock Options - As of June 30, 2024, the company repurchased 21,459,000 shares, representing 1.50% of the issued shares, at an aggregate cost of approximately HKD 93.2 million (approximately RMB 84.9 million)[160]. - The share repurchase occurred at prices ranging from HKD 3.91 to HKD 5.47 per share, with the highest price being HKD 5.47 and the lowest HKD 3.91[164]. - The number of shares available for further grant under the Share Option Scheme increased from 118,167,100 on January 1, 2024, to 119,083,600 on June 30, 2024, representing 8.31% of the total shares in issue[158]. - The share options granted on November 3, 2023, will vest on November 3, 2024, after a 12-month period[157]. - The company believes that the share repurchase reflects confidence in its long-term business prospects and aims to create value for shareholders[160].
九毛九(09922) - 2024 - 中期财报