Review of half yearly performance
Announced the performance of the fiscal year at the end of March, shareholders' losses narrowed by 4.72% to 118 million yuan per year, due to the continuous control of ingredients and operating costs, and the confirmation of impairment and depreciation of non-cash items such as right-to-use assets; income increased by 3.9% to 993 million yuan per year; no dividends. Cuihua said that it will actively explore platforms and develop new brands, explore other new business models, maintain a flexible market response, and accelerate the speed of entering the overseas market and the Guangdong-Hong Kong-Macao Greater Bay Area, and strengthen marketing efforts to expand the source of customers.
The employee is Cuihua's largest cost, about 334 million yuan last year, an annual increase of 7.1%. Cuihua received a rent discount of 25.7 million yuan last year. At the same time, due to the comprehensive effect of opening a new restaurant in the mainland, the property rent and related expenses rose by 11.9% to about 24.5 million yuan. The number of restaurants in Cuihua increased by 6 last year.
In terms of Hong Kong's business, Cuihua pointed out that local social distancing measures have a significant negative impact on consumer-oriented industries such as the catering service industry, such as banning canteens and setting an upper limit on the number of people per station; closing 4 restaurants of the "Cuihua" brand during the period, and replacing them with the opening of "Jinxin Shanghai Pan-fried Emperor", "Sichuan Spicy Hall" and "Fr Om Seed to Wish, a total of 4 brand restaurants.
In the mainland, three "Cuihua" tea restaurants were opened in Shenzhen, Guangzhou and Nanjing during the period, and cooperated with $Meituan-W.HK and "Are You Hungry" for food delivery services. Three new branches were added in Singapore during the period, namely JEM Shopping Center and Singapore Xingyao Changi Airport.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Yea