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Public company info - Tai Hing Group Holdings Limited , 06811.HK
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Tai Hing Group Holdings Limited, 06811.HK - Company Profile
Chairman Chan Wing On
Share Issued (share) 1,002,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Restaurants & Fast Food Shops
Corporate Profile Business Summary: The group is a multi-brand casual dining restaurant group originated in Hong Kong. Performance for the year: The Group recording revenue of HK$3,252.3 million (FY2018: HK$3,126.1 million), representing a year-on-year increase of 4.0%. Gross profit amounted to HK$2,319.7 million (FY2018: HK$2,239.0 million), with gross profit margin remaining at a stable level of 71.3% (FY2018: 71.6%). Profit attributable to owners of the Company was HK$76.9 million (FY2018: HK$304.9 million). Business Review： Tai Hing As the signature brand of the Group, and one that has three decades of history in Hong Kong as well as over 15 years of operation in Mainland China, “Tai Hing” remains the key revenue generator of the Group. During the Review Year, Tai Hing restaurants generated HK$1,931.8 million (FY2018: HK$2,022.6 million) in revenue and accounted for 59.4% (FY2018: 64.7%) of the Group’s total revenue. To capitalise on the strength of this renowned brand, the Group established its first Tai Hing restaurant in Taiwan in May 2019, which received favourable response. Subsequently, a second restaurant was opened in November 2019. Men Wah Bing Teng During the Review Year, the “Men Wah Bing Teng” restaurant chain was warmly welcomed by the market, resulting in a significant 148.6% year-on-year rise in revenue to HK$299.5 million (FY2018: HK$120.5 million). The restaurant chain also achieved satisfactory same-store sales growth of 3.2% and an outstanding seat turnover rate of 15. Since the first Men Wah Bing Teng was opened in Guangzhou in July 2019, 2 more stores have been opened in Mainland China, which has significantly strengthened the brand’s presence in the Greater Bay Area. Specifically, the operation opened 10 and 3 stores in Hong Kong and Mainland China respectively – the highest number of store openings among the Group’s brands. As a testament to the successful positioning of Men Wah Bing Teng as a traditional bing teng, it has been awarded “Popular Food Restaurant” by “Shanghai on the tip of the tongue” Column group. To maintain its outstanding performance, the Group will further promote Men Wah Bing Teng in the Greater Bay Area, as well as other high potential markets, thus allow the Group to share Hong Kong’s traditional bing sutt featuring Western-style fast food snacks to customers across the country. Other Subsidiary Brands The Group’s other subsidiary brands have also performed favourably during the Review Year. Among them, “TeaWood” continued to deliver considerable revenue amounting to HK$521.5 million, accounting for 16.0% of the Group’s total revenue. With respect to “ ”, a restaurant chain specialising in Vietnamese beef noodles that was launched by the Group in 2017, it recorded a 43.9% year-on-year rise in revenue to HK$138.4 million, benefiting in part to the introduction of an expanded menu. As for the “Trusty Congee King” brand, the Group opened 1 and 2 stores in Hong Kong and Mainland China, respectively, during the Review Year. Revenue from the operation increased by 12.8% year-on-year to HK$235.5 million. In driving revenue growth, the Group introduced a new promotional campaign which aimed at increasing customer traffic during dinner hours, as well as launched a more diverse menu to appeal to the varied tastes of customers. Prospects: The arrival of 2020 will invariably bring new as well as ongoing challenges to the Group and the catering industry as a whole, including social unrest in Hong Kong that began in early June 2019, and the outbreak of the novel coronavirus (COVID-19) all over the world recently. Both of which may continue to affect the Hong Kong and Mainland China economies in varying degrees in 2020. In view of this, the Group are actively initiating various cooperative approaches and negotiations with the Group’s business partners, landlords and government authorities, with an aim to work as one as the Group face the obstacles ahead. It is certainly worth noting that the Group has faced numerous challenges with different economic cycles in the past three decades. Nonetheless, the Group have been able to overcome all of these temporary difficulties and setbacks because of the strength of the Group’s people and dedicated team spirit. Facing the difficult operating environment, the Group have established a “Committee on Emergency Management” in the beginning of 2020 specialised to address challenges resulting from the COVID-19 outbreak. If anything, the syndrome will present us with the opportunity to determine any shortcomings that the Group might have, and take prompt action. Given that in good times and bad, quality food and services are always essential, the Group will continue to strive for excellence, all the while honoring the Group’s value structure of People Oriented (以人為本); Customer First (以客為先); Quality Prioritised (重視品質); and Innovation for Development (創新求變).

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