Busy Ming Group (1768) investor relations material

Executive summary

• Revenue for H1 2026 rose 60.0% year-over-year to RMB44,996.6 million, driven by rapid store network expansion and increased sales to franchisees.

• Net profit surged 155.4% year-over-year to RMB2,239.7 million, with adjusted net profit (non-IFRS) up 136.6% to RMB2,447.6 million.

• Store count grew from 21,948 at end-2025 to 26,405 by June 30, 2026, with 99.97% franchised stores and broad geographic coverage.

• Gross profit margin improved from 9.3% to 11.5% year-over-year, reflecting economies of scale and enhanced cost control.

Financial highlights

• Revenue: RMB44,996.6 million, up 60.0% year-over-year.

• Gross profit: RMB5,187.0 million, up 97.7% year-over-year; gross margin increased to 11.5%.

• Net profit: RMB2,239.7 million, up 155.4% year-over-year.

• Adjusted net profit (non-IFRS): RMB2,447.6 million, up 136.6%.

• Basic and diluted EPS: RMB10.42, up from RMB4.49.

Outlook and guidance

• Plans to continue rapid store expansion, especially in lower-tier markets, and further optimize the store network.

• Focus on frequent new product launches, product customization, and supply chain efficiency.

• Ongoing investment in digitalization and brand building to enhance operational efficiency and consumer experience.