XAYS(000721)2025-04-18 14:20Financial Performance - The company's operating revenue for 2024 was CNY 665,806,150.48, a decrease of 14.66% compared to CNY 780,169,637.88 in 2023[20]. - The net profit attributable to shareholders for 2024 was a loss of CNY 128,005,125.46, which is an increase in loss of 8.55% from a loss of CNY 117,917,322.22 in 2023[20]. - The company reported a decrease in revenue after deducting non-operating income to CNY 633,084,655.42 in 2024, down from CNY 745,897,894.69 in 2023[20]. - The basic earnings per share for 2024 was -CNY 0.2230, reflecting an 8.52% increase in loss compared to -CNY 0.2055 in 2023[20]. - The total revenue for 2024 was ¥665.81 million, a decrease of 14.66% compared to ¥780.17 million in 2023[40]. - Revenue from restaurant services was ¥511.68 million, accounting for 76.85% of total revenue, down 15.11% from ¥602.77 million in 2023[40]. - The company reported a total investment commitment of CNY 30,392.51 million, with cumulative investment reaching CNY 29,945.93 million, representing 98.5% of the committed amount[64]. - The company achieved a cumulative input of CNY 28,505.82 million, which is 91.66% of the expected investment[64]. - The company reported a total net loss for the year 2024 of -117,111,291.30, compared to a net loss of -69,390,044.91 in 2023, indicating an increase in losses of approximately 69.0%[196]. Cash Flow and Liquidity - The cash flow from operating activities increased by 31.12% to CNY 100,590,977.20 in 2024, compared to CNY 76,716,184.47 in 2023[20]. - The company reported a net cash flow from operating activities of ¥40,304,731.60 in Q4, indicating improved cash management despite overall losses[24]. - Operating cash inflow decreased by 12.77% to ¥742,525,331.87, while operating cash outflow decreased by 17.12% to ¥641,934,354.67, resulting in a net cash flow from operating activities of ¥100,590,977.20, an increase of 31.12%[52]. - Cash inflows from operating activities decreased to 742,525,331.87 in 2024 from 851,218,285.81 in 2023, representing a decline of about 12.8%[197]. - The net cash flow from investing activities was -24,801,647.15 in 2024, compared to -134,693,516.62 in 2023, showing an improvement of approximately 81.6%[199]. - The total cash and cash equivalents at the end of 2024 increased to 88,420,927.49 from 58,167,780.08 in 2023, reflecting a growth of approximately 52.0%[199]. - The company received tax refunds amounting to 11,640,371.54 in 2024, a significant increase from 1,818,500.38 in 2023, representing a growth of about 540.0%[197]. Assets and Liabilities - The total assets at the end of 2024 were CNY 1,396,423,115.29, a decrease of 9.88% from CNY 1,549,573,974.81 at the end of 2023[20]. - The net assets attributable to shareholders decreased by 28.27% to CNY 302,402,302.33 at the end of 2024, down from CNY 421,607,427.79 at the end of 2023[20]. - The company's total liabilities increased to 909,697,755.03 in 2024 from 898,659,130.44 in 2023, reflecting a growth of 1.2%[192]. - The company's equity attributable to shareholders decreased from CNY 421,607,427.79 to CNY 302,402,302.33, a decline of approximately 28.3%[189]. - Long-term investments in fixed assets increased from CNY 320,409,841.97 to CNY 474,535,427.12, an increase of about 48.1%[188]. - The company's short-term borrowings increased from CNY 402,103,037.14 to CNY 428,460,581.59, an increase of approximately 6.5%[189]. Operational Strategy and Market Position - The company has implemented a dual-driven development strategy combining restaurant services and food processing, aiming for quality improvement and efficiency enhancement[35]. - The company has introduced new products such as Shaanxi-style steamed bowls and various traditional snacks, which have been well-received by consumers[30]. - The company has expanded its market presence by opening new locations, including the West Duck Restaurant and several branches of the Old Sun Family Restaurant[35]. - The company is focused on transforming and upgrading its operations by enhancing store efficiency, reducing costs, and optimizing asset utilization[73]. - The company aims to achieve high-quality development by implementing measures such as strong management, standardization, and cultural emphasis[72]. - The company has identified significant opportunities in the international market expansion of Chinese cuisine due to increasing global acceptance[72]. Corporate Governance and Management - The company has established a robust internal control system and governance structure, including an audit committee and a strategic committee, to enhance decision-making processes[84]. - The company has implemented a separate voting system for minority shareholders during significant matters to protect their rights[83]. - The company has a dedicated financial management center with a standardized accounting system, ensuring independent financial decision-making[88]. - The company has actively communicated with investors through various channels, including an investor hotline and annual performance briefings, to foster positive relationships[85]. - The company has a strong emphasis on corporate governance and compliance, with independent directors actively involved in oversight[97][99]. - The company appointed Liu Yong as the new Chairman effective January 2, 2025, following the resignation of former Chairman Jin Wenping due to job relocation[93]. Social Responsibility and Environmental Initiatives - The company has been actively involved in social responsibility, including donating 10,000 yuan annually to the Xi'an Children's Welfare Institute for 17 consecutive years[130]. - The company emphasizes the importance of environmental protection and has implemented strict measures for waste management[129]. - The company has established energy-saving targets and conducts assessments on water, electricity, and gas consumption[130]. - The company is committed to maintaining shareholder rights and adhering to legal regulations to ensure stable development[130]. Employee and Management Structure - The total number of employees at the end of the reporting period is 3,106, with 2,194 in the parent company and 912 in major subsidiaries[115]. - The professional composition includes 1,494 production personnel, 50 sales personnel, 1,337 technical personnel, 80 financial personnel, and 145 administrative personnel[115]. - The educational background of employees shows 160 with a bachelor's degree or above, 352 with a college diploma, 432 with a secondary vocational education, 636 with a high school education, and 1,526 with education below junior high school[115]. - The company has a performance-based salary structure for senior management, combining base salary and performance bonuses[105]. Shareholder Information - The total number of shareholders at the end of the reporting period is 119,128, an increase from 106,996 in the previous month[165]. - The largest shareholder, Xi'an Tourism Group Co., Ltd., holds 30.96% of the shares, totaling 177,680,388 shares, with 88,800,000 shares frozen[165]. - The company has not reported any changes in the number of shares held by directors and senior management during the reporting period[92]. - The company has not disclosed any plans for share repurchase transactions during the reporting period[167].