news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

On July 18, Nayuki's Tea (02150.HK, hereinafter referred to as "Nayuki") released the "Operational Status for the Second Quarter of 2024" stating that in the second quarter of this year, Nayuki closed 48 directly-operated stores and opened 48 new directly-operated stores. As of June 30, it had 1,597 directly-operated stores.

In July last year, Naixue officially opened for franchising. As of the second quarter of this year, its franchise stores increased to 297, a net increase of 92 stores compared to the first quarter, mainly distributed in mid- and low-tier cities.

Nayuki said that in the second quarter of this year, it still did not see a significant recovery in demand. At present, the optimization of Nayuki's single-store model has been basically completed. There is limited room for adjustment in costs such as labor, depreciation and amortization in the short term, and store revenue is under pressure. It is expected that this will continue to put pressure on store operating profit margins. At the same time, franchise stores and directly-operated stores in similar locations are both affected by weak demand, and their revenue performance is similar.

Naixue expects that the number of new directly-operated stores opened this year will be lower than in previous years, and it will adjust or close some underperforming direct-operated stores. It "believes that this move will help boost the performance of existing directly-operated stores."

In terms of franchise business, after optimizing the requirements for franchisees, Naixue said that many potential franchisees have submitted franchise applications. In February this year, Naixue no longer insisted on the large store model. The minimum area of ​​its franchise stores was adjusted from 90 square meters to 40 square meters, and the investment budget was adjusted from 980,000 yuan to 580,000 yuan. For franchise stores that complete the contract before June 30, 2024, each store can receive a marketing subsidy of 60,000 yuan.

Nayuki mainly sells freshly brewed tea, baked products and bottled beverages through offline stores. Last year, it achieved its first annual profit since its listing. In 2023, Nayuki achieved revenue of 5.164 billion yuan, a year-on-year increase of 20.31%; net profit was 11.166 million yuan, a year-on-year increase of 102.35%. Under non-International Financial Reporting Standards, the adjusted net profit was 20.912 million yuan, successfully turning losses into profits.

Nandu Wancaishe reporter Zhan Danqing