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Public company info - Best Food Holding Company Limited , 01488.HK
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Best Food Holding Company Limited, 01488.HK - Company Profile
Chairman Zhao John Huan
Share Issued (share) 1,579,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Restaurants & Fast Food Shops
Corporate Profile Business Summary: The group is principally engaged in the operation of chain restaurants and manufacture and sale of handbags under various locations. Performance for the year: The revenue presented under consolidated statement of comprehensive income was RMB998.3 million, representing an increase of 112.3% as compared to RMB470.2 million in 2018. The gross profit amounted to RMB590.3 million, as compared with RMB270.2 million for the corresponding period in 2018. Excluding the impact of addition expenses arising from incentive plan of RMB8.2 million, the Group’s operating profit in 2019 amounted to RMB15.5 million, as compared with that of RMB3.5 million for the corresponding period in 2018. Business Review 2019 was a significant year in the development history of the Group.During the year, the Group completed the optimization and renovation of its strategic implementation route by adhering to the existing strategic direction, rapidly promoted its strategy and further focused on its food and beverage business. First of all, 2019 was a turning point for the Group’s implementation of the “dual-wheel driven” strategy. The Company shifted its focus from investment layout to both investment and operation management. While completing the investment layout of controlling brands including “HHG”, a fast food chain featuring rice meals, and “Xinladao Fish Hotpot” and joint-stock brands with leading position in food and beverage category, the Group initially established a management and control system for sharing and collaboration between the Group’s headquarter and every brand in terms of operation management. Meanwhile, the Group further defined the core of Best Food’s strategic route, which was to become a new food and beverage group operated through digitalized omni-channel and multi-scenario, and upheld the idea of “making a hard camp and fighting a dull battle” and acted prudently on key directional issues. The Group vigorously invested in its overall digital operation and devoted itself to improve customer experience and internal management efficiency. The Group formed the franchise investment team and took franchise expansion as the core strategy for business development. It also promoted the supply chain collaboration among its brands, expanded the scope of centralized procurement of raw materials, shared the capacity of central kitchen and distribution center within the system and strived to reduce the cost of supply chain. Best Food University was established to build a sustainable talent training system for the Group and to seek market-oriented operation opportunities. To further optimize its business structure, the Group put more emphasis on the food and beverage industry. In 2019, the Group disposed Lee & Man Development Company Limited and its handbag business. Prospects: After the optimization and adjustment in 2019, the Group was able to rapidly develop its business. Looking ahead into 2020, the Group will take the strategic development route as a guide to accelerate its overall digitalization system upgrade. The Group will recruit professional teams, carry out omni-channel traffic operation for private domain traffic and public domain traffic, and make every effort to achieve breakthrough in its franchise business. The Group will enhance efficiency and reduce costs through collaboration and sharing, so as to achieve the overall performance breakthrough and value enhancement of the Group. At the beginning of 2020, the sudden outbreak of the coronavirus disease (COVID-19) (the “COVID-19 Pandemic”) has brought unprecedented pressure to the food and beverage industry, which brought crisis to many food and beverage enterprises. As a result, every team of the Group has taken rapid responses, including adopting flexible measures on raising income and cutting down expenditure and actively obtaining banking facilities. Currently, with all the employees’ efforts and strong support from the shareholders of the Company (the “Shareholders”), the Group has faith to overcome the hard times. The Group believes the outbreak of the COVID-19 Pandemic will not change the long-term development trend of the food and beverage industry, whereas, it provides an opportunity for continuous rapid innovation of the food and beverage industry and transformation of leading brands. After the outbreak of the COVID-19 Pandemic, the Group has a more clear understanding towards the prospects of the food and beverage industry as well as the tremendous opportunities encountered by Best Food, and the Group is full of confidence in the future.

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