Business Review RESTAURANTS
The Group’s share of Maxim’s underlying profits was US$66 million in 2024, down from US$79 million in the prior year.
Share of Underlying Results
US$ 66m
Store Network
2,023 stores
The newly opened Paper Stone Bakery in China World Mall marks its first store in Beijing, Chinese mainland
The Group’s share of Maxim’s profits fell to US$66 million, despite continued expansion in Southeast Asia
The Group’s share of Maxim’s underlying profits was US$66 million in 2024, down from US$79 million in the prior year, largely due to lower mooncake sales and weaker restaurant performance on the Chinese mainland. Maxim’s continued to expand its presence in South East Asia, adding 76 net new stores during the year, mainly in Thailand and Vietnam. Benefiting from a diversified portfolio, restaurant sales performance in Hong Kong remained resilient despite an increase in outbound travel on weekends and public holidays.
Hong Kong MX Lava Custard Mooncake series
Kikusan, a Chinese-Japanese eatery at The Landmark, Hong Kong
Shake Shack’s Earl Grey Shake introduced in September 2024
Four commended team members of Maxim’s Cakes at Tsing Yi MTR Station, Hong Kong, exemplifying excellent service and attitude towards customers
