Summary by Futu AI
Shanghai Hotpot Food Co., Ltd's interim report for the six months ended June 30, 2024, showed a 3.5% decrease in revenue compared to the same period last year, reaching RMB 2,665.0 million. Gross profit increased by 5.3% to RMB 608.9 million, with a gross margin increase from 20.9% to 22.8%. The net profit for the period was RMB 85.5 million, a decrease of 26.7% from the same period last year. The basic earnings per share were RMB 3.13. The company did not declare an interim dividend. During the reporting period, the company continued to optimize its internal training system, strengthen franchisees and store managers' organization to promote the sharing of management experiences, and provide unlimited shopping experiences through various online sales channels such as Douyin, Hotpot APP, and WeChat Mini Program, expanding the range of products for sale. Additionally, the company announced after the reporting period that Henan Huading Cold Chain Warehouse Distribution Technology Co., Ltd. would become a wholly-owned subsidiary of Hotpot Industrial Co., Ltd.'s controlling shareholder, becoming an associated party of the company.