Guangzhou Xiao Noodles Catering Management (2408) investor relations material

Executive summary

• H1 revenue rose 33.6% YoY to RMB939.4m; profit attributable to equity shareholders increased 51.2% to RMB63.3m, while adjusted net profit rose 40.0% to RMB73.1m.

• Restaurant count reached 550 at June 30, 2026, up from 417 a year earlier; expansion and improved operating efficiency supported profitability.

Financial highlights

• Revenue was RMB939.4m vs RMB703.2m; profit before tax was RMB76.5m vs RMB52.3m, and profit for the period was RMB63.3m vs RMB41.8m.

• Adjusted net profit, excluding share-based payment costs, listing expenses, net FX losses, FVPL changes and related tax effects, was RMB73.1m vs RMB52.2m; margin rose to 7.8% from 7.4%.

• Staff costs rose 39.9% to RMB222.1m, or 23.6% of revenue vs 22.6%; raw materials and consumables were RMB299.0m, or 31.8% vs 31.4%.

• Other net gains were RMB8.2m vs a RMB1.9m loss, including RMB22.6m lease-termination gains and RMB20.9m net FX losses; listing expenses fell to nil from RMB11.2m.

Outlook and guidance

• 2026 target is 150–180 restaurant openings; by August 10, 84 had opened since year-end 2025 and 93 were in pre-opening preparation.

• Remaining global-offering proceeds are expected to be used by end-2028 for network expansion, technology and digital systems, brand development and potential upstream food-processing investments.