China Food

Just now, Rui Xingliang’s latest quarterly report and CFO change! Revenue approaches Starbucks, with more than 1400 stores

Rui

在今天晒出亮丽的成绩单后,瑞幸还宣布CFO“上新”。这让外界进一步猜测这家目前在粉单市场交易的咖啡连锁,将进一步加快上市步伐。

Just now, Guo Jinyi, chairman and CEO of Ruixing coffee, led a group of senior executives to attend the performance meeting. He said that in the future, Ruixing will better “in-depth communication” with consumers, investors and regulators, with a view to building Ruixing into a “century brand”.

Contrast widens


Let’s take a look at the latest performance of Ruixing this evening.


In a briefing today, Ruixing pointed out that in the last quarter, the company’s performance indicators continued to grow steadily, and the total net income reached 3.298 billion yuan, an increase of 72.4% over the previous year; Net 615 new stores; The operating profit margin continued to improve, with the same store sales of self operated stores increasing by 41.2%, and the profit margin of self operated stores at the store level reaching 30.6%.


These figures are in contrast to those previously announced by Starbucks. Last week, Starbucks handed over its third quarter results, showing that the world’s largest coffee chain stressed that it was troubled by the epidemic in the Chinese market. During the period, the net income of Starbucks in China decreased by 40% to US $544.5 million (equivalent to about RMB 3.693 billion), and the same store sales decreased by 44%.


Second quarter performance of Ruixing (company information, the same below)


However, behind the approach of Ruixing’s revenue to this old rival, it is faster to open more stores than Starbucks. By the end of the second quarter, Ruixing coffee shop had reached 7195 stores and affiliated stores.


This local coffee company, founded in 2018, has handed over eye-catching data today, which is more than that. For example, it says it has increased by 68.6%.


First of all, in terms of the revenue of self operated stores mainly in high-line cities, it was 2331.1 million yuan (US $348.6 million) in the second quarter, an increase of 52.4% compared with 1529.3 million yuan in the same period in 2021. The growth rate of the same store sales of self operated stores in the second quarter was 41.2; In addition, the profit at the store level of self operated stores in the second quarter was 712.2 million yuan (US $106.5 million), and the profit rate at the store level was 30.6%, compared with 353.2 million yuan and 23.1% at the same period in 2021.


Secondly, in the second quarter, the income of affiliated stores mainly in offline cities was 777.5 million yuan (US $116.3 million), an increase of 178.4% over the 279.3 million yuan in the same period of 2021.



Today, Ruixing continued to point out that the operating profit under the US accounting standards (GAAP) was 241.6 million yuan (US $36.1 million) in the second quarter, and the operating profit rate under the US accounting standards (GAAP) was 7.3%. The loss in the same period of 2021 was 47.5 million yuan. The operating profit under non-U.S. accounting standards (non GAAP) after adjusting the share based compensation expenses was 342.6 million yuan (US $51.2 million) in the second quarter, and the operating profit rate under non-U.S. accounting standards (non GAAP) was 10.4%. “Compared with rmb23.5 million in the same period of 2021, the profit rate is 1.2%, which represents a significant improvement in our operating results.”


How to achieve it?


As Ruixing had a history of being delisted due to financial fraud, its peers were “against the wind” in the last quarter


In addition to facing the competition from these emerging brands, it is still difficult for Ruixing to fully surpass Starbucks. Wang Jingying, chairman of Starbucks China, said last week that the decline in revenue in the last quarter was mainly due to the temporary closure of more than 1300 Starbucks stores at the beginning of the quarter.


“上季度疫情复杂,我们全国平均每日有670家门店关闭。”他说,在如此复杂和困难的环境下,得益于围绕人货场、研发、品牌和门店布局等优势,其中一款爆款产品的销售量上季达到2400万杯。他又解释,瑞幸的门店布局在疫情下冲击较小,并且门店也是以自提为主。

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Just now, Rui Xingliang’s latest quarterly report and CFO change! Revenue approaches Starbucks, with more than 1400 stores

据今天的介绍,由于疫情等原因,瑞幸继续不提供今年的业绩指引。

CFO换了

小食代还注意到,今天瑞幸还公布了高人士变动伴随着幸在纳斯达克IPO、共同经历和处理了财务造假危机的首席财务官Reinout Hendrik Schakel让位”,但保留首席战略官。首席财务官一职,则由曾任58到家CFO的安静接任,即时生效。

资料显示,现年46岁的安静1998年获得中国人民大学的经济学学士学位,2010年获得斯坦福大学商学院的管理学硕士学位;从1998年到2003年,她还在普华永道北京分公司担任高级审计师。从2014年8月到2016年7月,正式担任蓝汛通讯的CFO,2016年7月起担任58到家的CFO,自2020年1月起担任天鹅到家的CFO。


对于安静的加入,郭谨一今天表示,凭借她领导财务职能的专业知识和过去帮助科技公司发展的经验,“安女士将让我们进一步加强财务中心业务的能力,推动瑞幸发展上新的台阶。”


他还说,Reinout日后将更专注于公司的发展战略和其他工作,形容他“创造性地解决了(瑞幸)的历史问题”。


此前,尽管有业内声音认为瑞幸不应再把上市作为自己的核心目标、应先吸取前一次急功近利的教训,但是外界也普遍相信在大钲资本控制下的瑞幸咖啡虽然强调业务重塑,但是推动上市也将是必然。


据香港地区媒体今年5月消息,瑞幸咖啡计划在香港上市。此前,瑞幸被纳斯达克驱逐,其后该公司与债权人进行两年债务重组后,在4月摆脱了破产令。“这对我们是一个重要里程碑。”郭谨一今天还透露,公司上月成立了可持续发展委员会,并于四季度发布可持续报告,让外界更了解公司在”历史切割“等各方面的努力。

似乎为了进一步增加外界对其业务的信心,有意思的是,郭谨一今天还透露上季度瑞幸有两项数字化成果可供分享,包括可支持每日超过500万笔交易量的“Hybrid MultiCloud”,以及区块链。对于后者,他强调将利用其不可篡改的特性,推动业务和财务的可靠性提升,成为餐饮业内引入区块链的“先行者”。




以咖啡店为赛道的公司为加快在华扩张,纷纷以上市融资为手段。


除外瑞幸外,腾讯有份投资、正冲刺上市的Tims中国也将在本月股东大会后正式通过SPAC上市。该公司此前希望到今年年底在华门店将达到400家,或每36小时开一家,又要在2026年前建立一个由2750多家门店组成的盈利的连锁网络,到时销售收入要从今年的6.71亿元大幅增长到超过70亿元。


除了面对这些新兴品牌的竞争外,瑞幸要全面超越星巴克依然艰难。星巴克中国董事长王静瑛上周表示,上季度收入下滑主要是由于星巴克在季度之初就有超过1300家门店要暂时关闭。她强调, 星巴克的同店销售的改善和疫情防控措施限制放松之间,存在很强的正相关关系。“这让我们有信心,一旦完全取消了出行限制,销售额将会出现强劲反弹。”她表示,“我们的新店继续实现一流的回报和盈利能力。”

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