Name of the company
The name of the company is Chowking Philippines, Inc. It is one
of the most popular quick-service restaurants (QSR) in the
Philippines. Chowking is known for its unique concept of
combining traditional Chinese cuisine with the speed and
convenience of fast food service. The brand has been a trusted
name in the country for decades, attracting millions of Filipino
families.
How the Business Started
Chowking was founded in 1985 by Robert Kuan in the Philippines.
The idea was to serve Chinese food in a quick-service restaurant
format, making it affordable and accessible for everyone. The
brand grew rapidly due to Filipinos’ love for Chinese-inspired
dishes such as noodles, dim sum, and rice meals. In 2000,
Jollibee Foods Corporation (JFC) acquired Chowking, further
strengthening its operations and allowing it to expand locally and
internationally.
Nature of Products or Services Offered
- Chowking serves Chinese-inspired fast food dishes that are
affordable and enjoyed by many Filipinos. Some of the products
include:
- Halo-halo (a signature dessert and one of Chowking’s
bestsellers)
- Lauriat meals (complete rice meals with sides like siomai, fried
chicken, and pancit canton)
- Chao Fan (Chinese-style fried rice, often paired with siomai or
siopao)
- Dimsum and siopao such as siomai, siopao bola-bola, and
asado
- Ready-to-drink beverages such as soft drinks and milk tea
Aside from dine-in and take-out, Chowking also offers delivery
services nationwide.
Target Market
- Chowking’s target market is Filipino families and working
individuals. They cater to mothers, fathers, and children who want
affordable meals with a touch of Chinese flavor. They also attract
students, office workers, and groups looking for budget-friendly
yet satisfying food.
Owners
- Chowking is owned and operated by Jollibee Foods Corporation
(JFC), the largest fast-food chain
operator in the Philippines. JFC also owns Jollibee, Mang Inasal,
Greenwich, and Red Ribbon.
Because of this, Chowking benefits from the strong system and
management of JFC while
maintaining its identity as a Chinese fast-food restaurant.
Where It Operates
- Chowking operates in the Philippines with hundreds of branches
nationwide, especially in malls, city
centers, and commercial areas. It also has branches abroad in
the Middle East, United States, and other countries with large
Filipino communities.
FINANCIAL STATEMENT
Statement of Financial Position (Balance Sheet)
(As of December 31, 2024 – illustrative only)
Assets ₱ ‘000 Liabilities & Equity ₱ ‘000
Non-Current Assets Non-Current Liabilities
Property, Plant & Equipment 4,800,000 Long-Term Debt 2,900,000
Intangible Assets & Goodwill 900,000 Lease Liabilities 400,000
Other Non-Current Assets 300,000 Other Liabilities 300,000
Total Non-Current Assets 6,000,000 Total Non-Current Liabilities
3,600,000
Current Assets Current Liabilities
Inventories 1,200,000 Accounts Payable & Accruals
1,100,000
Trade Receivables 1,000,000 Short-Term Borrowings
1,000,000
Cash & Cash Equivalents 3,010,000 Other Current Liabilities
510,000
Total Current Assets 5,210,000 Total Current Liabilities
2,610,000
Total Assets 11,210,000 Total Liabilities 6,210,000
Equity
Share Capital 5,000,000
Retained Earnings 3,900,000
Other Comprehensive Income 100,000
Total Equity 9,000,000
TOTAL LIABILITIES & EQUITY 11,210,000
Income Statement
(For the year ended December 31, 2024 – illustrative only)
Particulars Amount (₱ ‘000)
Revenue 12,850,000
Cost of Sales (7,200,000)
Gross Profit 5,650,000
Distribution & Selling Expenses (2,100,000)
General & Administrative Expenses (1,850,000)
Other Income (Expenses) (150,000)
Operating Profit 1,550,000
Finance Income 85,000
Finance Costs (320,000)
Profit Before Tax1,315,000
Income Tax Expense (395,000)
Net Profit for the Year 920,000
Statement of Changes in Equity
(For the year ended December 31, 2024 – illustrative only)
Particulars Share Capital Retained Earnings Total Equity
Balance at Jan 1, 2024 5,000,000 3,200,000 8,200,000
Net Profit for the Year – 920,000 920,000
Dividends Declared – (300,000)(300,000)
Other Comprehensive Income – 80,000 80,000
Balance at Dec 31, 2024 5,000,000 3,900,000 8,900,000
Statement of Cash Flows
(For the year ended December 31, 2024 – illustrative only)
Particulars Amount (₱ ‘000)
Cash Flows from Operating Activities
Net Income 920,000
Depreciation & Amortization 450,000
Changes in Working Capital (250,000)
Net Cash from Operations 1,120,000
Cash Flows from Investing Activities
Purchase of Property & Equipment (600,000)
Proceeds from Disposal of Equipment 90,000
Net Cash Used in Investing (510,000)
Cash Flows from Financing Activities
Proceeds from Borrowings 800,000
Dividends Paid (300,000)
Interest Paid (200,000)
Net Cash from Financing 300,000
Net Increase in Cash 910,000
Cash at Beginning of Year 2,100,000
Cash at End of Year 3,010,000
FINANCIAL RATIOS
🔹 Profitability Ratios
Return on Assets (ROA) = Net Profit ÷ Total Assets = 920,000 ÷
11,210,000 = 8.2%
Return on Equity (ROE) = Net Profit ÷ Equity = 920,000 ÷ 9,000,000 =
10.2%
Gross Profit Margin = Gross Profit ÷ Revenue = 5,650,000 ÷ 12,850,000 =
44.0
Operating Profit Margin = Operating Profit ÷ Revenue = 1,550,000 ÷
12,850,000 = 12.1%
Net Profit Margin = Net Profit ÷ Revenue = 920,000 ÷ 12,850,000 = 7.2%
🔹 Efficiency Ratios
Total Asset Turnover = Revenue ÷ Total Assets = 12,850,000 ÷ 11,210,000
= 1.15x
Fixed Asset Turnover = Revenue ÷ PPE = 12,850,000 ÷ 4,800,000 = 2.68x
Inventory Turnover = Cost of Sales ÷ Inventory = 7,200,000 ÷ 1,200,000 =
6.0x
Receivables Turnover = Revenue ÷ Receivables = 12,850,000 ÷ 1,000,000
= 12.85x
Liquidity Ratios
Current Ratio = Current Assets ÷ Current Liabilities = 5,210,000 ÷
2,610,000 = 2.0x
Quick Ratio (Acid-Test) = (Current Assets – Inventory) ÷ Current Liabilities
= (5,210,000 –1,200,000) ÷ 2,610,000 = 1.54x
🔹 Stability / Leverage Ratios
Debt Ratio = Total Liabilities ÷ Total Assets = 6,210,000 ÷ 11,210,000 =
55.4%
Debt-to-Equity Ratio = Total Liabilities ÷ Equity = 6,210,000 ÷ 9,000,000 =
0.69x
Interest Coverage Ratio = EBIT ÷ Interest Expense = 1,550,000 ÷ 320,000
= 4.8x
