On 8th July 2024, HONG KONG / -- Domino's China or Dashen Shareholding Corporation ('Dashen' or 'Company') (1405.HK) is the exclusive master franchisee of Domino's Pizza in Mainland China, Hong Kong SAR and Macau SAR. The company maintains strong growth momentum and market innovation ability in the first half of 2024, further consolidating its unique position in China's pizza market. In the first half of 2024, Dashen will continue to implement its "Go deep, go broad" strategy, using sustainable business models to continuously expand its territory in China's burgeoning pizza market. It will also continue to uphold the company's service purposes to provide high-quality, value-for-money pizzas to more Chinese consumers. According to the business overview of the second quarter of 2024 (hereinafter referred to as the "Business Overview") released by Dashen, as of June 30, 2024, Dashen has operated in more than 900 stores in 33 cities in China.
In 2023, Dashen formulated the 'Go deep, go broad' strategy, and continuously expanded its territory in China's rapidly developing pizza market through sustainable business models. In the first half of 2024, Dashen will continue to uphold the company's service purposes to provide high-quality, value-for-money pizzas to more Chinese consumers, and continue to implement its "Go deep,go broad" strategy. The business overview released by Dashen mentioned that as of June 30, 2024, Dashen had operated in more than 900 stores in 33 cities in China.
Dashen has successfully implemented the 'Go deep, go broad' strategy. In the first half of 2024, Dashen expanded to include four new cities, including Taizhou and Jinhua in the eastern region and Jiangmen and Huizhou in the southern region. In the first half of 2024, Dashen opened 146 new stores. Currently, the total number of new, under-construction and contracted stores exceeds 85% of its goal for 2024.
Dashen maintains strong growth in the Chinese market. According to the Business Overview, Domino's China ranked the top 20 in Domino's over 20,000 stores in global first 30 days sales ranking. Under the current management team since the third quarter of 2017, Dashen has achieved same-store sales growth (SSSG) for 28 consecutive quarters as of the date of this news release.
At the same time, Dashen continues to build a diversified community and has gained wide recognition. As of June 30, 2023, the Domino's member program "Darling Club" has made significant progress with about 19.4 million members, reflecting strong user participation. In the past 12 months, about 10.3 million new users placed their first orders through Domino's China sales channels.
Dashen was successfully listed on the Hong Kong Stock Exchange in March 2023. In the first half of 2024, the company celebrated its first anniversary of the successful listing. On July 8, 2024, Dashen won the 'Best IPO Award' of China Financing Awards 2024, which proved its commitment and execution to create value for shareholders. During this period, the company's store network has been expanding healthily, sales performance has steadily increased, brand influence has continued to grow, and employee welfare has gradually improved.
Dashen's efforts were recognized and affirmed at the 2024 Domino's Global Convention, and the company won multiple awards and recognitions. Ms Wang Yi, executive director and CEO of Dashen, was selected as a member of the President's Circle, making her the first female CEO to receive this honor. Dashen has won the Gold Franny Award for six consecutive years, reflecting the company's outstanding business performance, service improvement and growth in quantity. At the same time, Dashen also won the International Cornerstone Award to recognize its outstanding performance in new store growth. Dashen's success is due to the professionalism and dedication of every employee. Company employees were selected as the annual international franchise training instructor, the annual international regional manager, and the annual international supervisor. Two company employees were awarded the title of the world's fastest pizza maker (WFPM) in 2024.
In order to support the continuous expansion of its store network and meet the growing customer demand, Dashen continues to improve its products and services. The company is committed to product innovation and in the second quarter of 2024, it continued to launch new products in its existing signature and localized menus, including new pizza flavors and crusts, bringing more surprises to Chinese consumers. At the same time, Domino's China cooperated with Tencent game Bai Jing Hall and popular brands such as Hello Kitty to launch limited-time promotional activities, attracting young consumers.
Looking to the future, Dashen will continue to implement its 'Go deep, go broad' strategy, and continue to promote store network expansion. The company will be committed to innovation, especially continue to carry out localization development and improvement on its pizza-based menu, and use technology to empower and provide professional, leading delivery services. By utilizing a scalable and replicable store economic model, Dashen is committed to providing a better dining experience to the diverse Chinese consumer group, and to meet the growing diverse needs.
About Dash Brands
Dash Brands is the exclusive master franchisee of Domino's Pizza in mainland China, Hong Kong and Macau. Domino's Pizza is a global popular pizza brand. According to Domino's Pizza's Q1 2024 financial report, it has over 20,700 restaurants in more than 90 countries and regions worldwide. Under the leadership of an experienced and visionary management team, Dash Brands has formed a differentiated advantage in the market by continuously developing a localized menu mainly based on pizza with professional and leading delivery services, technology-enabled, scalable and replicable store economic models. As of June 30, 2024, Dash Brands has operated over 900 stores in 33 cities in China.
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