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Daxiwu passed the listing hearing last year, revenue fell 13% in December, and net profit for the year is expected to decrease significantly

2020-01-23T02:25:08.045Z


Daxi House, which has Japanese-style topical brands such as "Daxi House" and "Extreme Fashion Daxi", updated the listing documents after the listing hearing earlier, and said that due to the impact of social storms, revenue in December last year decreased by 13% year-on-year. Pick up every month


Financial news

Written by: Lin Leqian

2020-01-23 10:14

Last updated: 2020-01-23 10:15

Daxi House, which has Japanese-style topical brands such as "Daxi House" and "Extreme Fashion Daxi", updated the listing documents after the listing hearing earlier, and said that due to the impact of social storms, revenue in December last year decreased by 13% year-on-year. The number of customers received each month fell by 6%, and the monthly income from June to November last year decreased by 3% to 32%.

The Group explained that due to the social turmoil, the overall decrease in the number of customer receptions and the increase in operating costs during the period from June to November last year led to a significant decrease in the average monthly net profit during the period, especially the opening of the Daxiya Shatian store in June last year to hire more employees. As a result, staff costs have risen.

Daxi House expects that the net profit for the year to the end of March this year will decrease significantly, mainly due to the upfront costs incurred by the closure of the Daxi House Causeway Bay store in March last year, the new opening of the Daxi House Shatin store, and the reduction of customer pick-up. The company added that the social turmoil since June has driven customers, diners and tourists aside, but the directors believe that this factor is temporary and is not a sign of overall demand shrinking.

Restaurant reduced by up to 20% of rent 悭 1.7 million

To address the above impacts, the Group has taken measures including negotiating with owners to reduce restaurant rents, increase marketing activities and publicity, and improve crisis management training. The owners of the eight restaurants of the group have agreed to reduce rents by 10 to 20% per month for two to four months, saving 1.7 million yuan in rent payments for the financial year of the group; one restaurant that was closed for two days in October last year It has also obtained a one-time two-day rent reduction, and the Group will continue to negotiate with other restaurant owners on rent reductions.

In addition, Daxiwu has also taken certain measures to control operating costs, such as reducing the use of temporary workers provided by independent third-party service providers, and reorganizing the administrative and support functions of the headquarters, resulting in a total savings of approximately $ 9.1 million as of November 2019.

Unemployment rate rose to 3.3% in December, unemployment rate in consumer tourism related industries was 5.2%, highest in three years

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Source: hk1

All news articles on 2020-01-23

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