BRIEF: Xiaocaiyuan’s revenue rises on surging deliveries
Budget restaurant operator Xiaocaiyuan International Holdings Ltd. (0999.HK) announced on Wednesday its revenue reached 5.21 billion yuan ($717.4 million) last year, up 14.5% year-on-year. Its net profit for the year also rose 9.1% to 581 million.
The company said revenue from its delivery business rose 34.4% year-on-year to 2 billion yuan, while the number of delivery orders from Xiaocaiyuan stores increased by 53.4%, from 18.9 million in 2023 to 29 million in 2024. It attributed the growth to an increase in its number of stores offering delivery service, as well as improved visibility and appeal on online delivery platforms.
Meanwhile, revenue from the company’s dine-in business rose 4.6% year-on-year to 3.19 billion, mainly due to an increase in its store network. The company operated 667 Xiaocaiyuan stores at the end of last year, up from 536 at the end of 2023, representing a net increase of 131 stores.
Xiaocaiyuan’s stock opened 3.76% lower on Thursday and closed down 3.41% by the midday break at HK$10.78.
By Lee Shih Ta
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