Financial Performance - The Group's revenue for the first half of FY2020/21 decreased by 24.3% to HK$3,225.7 million compared to the same period last year[9]. - Profit attributable to shareholders slightly increased by 8.4% to HK$162.3 million during the period[9]. - For the six months ended 30 September 2020, the Group recorded revenue of HK$3,225.7 million, a decrease of 24.3% compared to HK$4,263.8 million in 2019[15]. - The gross profit margin decreased to 4.3% for the six months ended 30 September 2020, down from 11.7% in 2019, primarily due to weak market sentiment and social distancing measures[18]. - Profit attributable to equity holders rose by 8.4% to HK$162.3 million for the six months ended September 30, 2020 (2019: HK$149.7 million) due to government monetary relief[25]. - Basic earnings per share increased by 8.5% to HK28.0 cents (2019: HK25.8 cents) for the same period[25]. - Total comprehensive income for the period reached HK$169,515,000, compared to HK$107,864,000 in the previous year, representing a 56.9% increase[77]. - Profit for the period increased to HK$162,818, up from HK$150,344 in the previous year, reflecting a growth of 8.3%[75]. Government Support and Subsidies - The Group received HK$322.5 million in subsidies under the Employment Support Scheme, accounting for approximately 31.6% of the Group's staff cost in Hong Kong during the period[9]. - The Group received pandemic relief and subsidies totaling HK$338.9 million from the Hong Kong and PRC governments, which included HK$322.5 million under the Employment Support Scheme[12]. - Government grants received during the six months ended September 30, 2020, amounted to HK$338,864, primarily due to COVID-19 subsidies[170]. Cost Management - Administrative expenses decreased by 12.4% to HK$227.6 million during the six months ended 30 September 2020, down from HK$259.9 million in 2019, due to stringent cost control[19]. - The Group implemented various cost-saving measures, particularly negotiating rental concessions with landlords to reduce rental expenses[13]. - Stringent cost control measures were implemented, including negotiating rental concessions and simplifying the menu to maintain food costs[29]. - Employee benefit expenses (excluding share-based compensation) totaled HK$1,127,387, down 18.1% from HK$1,376,599 in 2019[173]. - The cost of raw materials and packing was HK$960.931 million, a decrease of 19.2% from HK$1,188.573 million in the previous year[173]. Business Operations and Strategy - Business operations in Mainland China began to recover to pre-pandemic levels by the end of the reporting period[10]. - The Group plans to expedite network expansion in the Greater Bay Area during the latter half of the financial year[10]. - The Group shifted focus to takeaway and delivery services in response to changing consumer preferences during the COVID-19 pandemic[28]. - The Group's marketing focus shifted to promote takeaway and delivery services, including new dinner takeaway promotions targeting individuals and families[32]. - The Group is focusing on speed, takeaway/delivery services, and value-focused promotions to adapt to changing consumer preferences[40]. - The Group's business in Mainland China experienced a V-shaped rebound, returning to pre-pandemic levels by the end of the review period[13]. Shareholder Information - An interim dividend of HK10 cents was declared for the six months ended 30 September 2020, down from HK19 cents in 2019[10]. - The Group declared an interim dividend of HK10 cents per share for the six months ended September 30, 2020, down from HK19 cents in 2019[42]. - The total number of shares to be awarded under the share award scheme shall not exceed 5% of the total number of issued shares of the Company[44]. - A total of 17,467,695 shares have been awarded under the Share Award Scheme, representing approximately 2.98% of the total number of issued shares as of 30 September 2020[49]. - The maximum number of shares that can be granted to individual selected participants under the Share Award Scheme is capped at 1% of the total issued shares[47]. Financial Position - As of 30 September 2020, the Group had cash of approximately HK$1,200.4 million and available banking facilities of HK$1,289.1 million[37]. - The Group's current ratio improved to 1.1 as of 30 September 2020, up from 0.5 on 31 March 2020[37]. - Total assets as of 30 September 2020 increased to HK$6,643,059, up from HK$6,220,758 as of 31 March 2020, representing a growth of approximately 6.8%[71]. - Total liabilities as of 30 September 2020 were HK$3,809,081, an increase from HK$3,549,446 as of 31 March 2020, marking a rise of approximately 7.3%[73]. - Cash and cash equivalents increased to HK$1,200,397 from HK$345,072, representing a significant rise of 247.5%[73]. Employee and Management Compensation - Salaries and allowances for key management increased to HK$19,170,000 in 2020 from HK$17,664,000 in 2019, a rise of 8.5%[197]. - Discretionary bonuses for key management decreased significantly to HK$759,000 in 2020 from HK$6,670,000 in 2019, reflecting a decline of 88.6%[197]. - Share-based compensation expenses for key management were HK$2,049,000 in 2020, down from HK$2,453,000 in 2019, a decrease of 16.5%[197]. Corporate Governance - The Company complied with all code provisions of the Corporate Governance Code during the six months ended 30 September 2020[62]. - The Audit Committee reviewed the unaudited interim results of the Group for the six months ended 30 September 2020[64]. - All Directors confirmed compliance with the Model Code regarding securities transactions during the six months ended 30 September 2020[63].

Revenue and Profit Performance - The Group's revenue for the first half of FY2019/20 amounted to HK$4,263.8 million, a 1.6% increase compared to the corresponding period last year[9]. - Profit attributable to shareholders declined 34.5% to HK$149.7 million due to weak revenue growth in Hong Kong amidst a challenging market environment[9]. - Revenue growth of the quick service restaurant business in Hong Kong was impacted by weak market sentiment, with profit margins affected by more value meals and promotions[10]. - The casual dining business recorded a decline in revenue during the period, influenced by adverse market conditions at key locations[10]. - The Mainland China business continued to grow with strong momentum, recording positive same store sales growth and accelerating network expansion in strategic cities in Southern China[10]. - The Group's profit attributable to equity holders decreased by 34.5% to HK$149.7 million for the six months ended 30 September 2019, compared to HK$228.7 million in 2018[20]. - Basic earnings per share decreased by 34.5% to HK25.81 cents for the six months ended 30 September 2019, compared to HK39.41 cents in 2018[20]. - Revenue from the casual dining business decreased by 4.1% to HK$442.8 million, impacted by adverse market conditions[23]. - Revenue from Mainland China increased by 3.6% to HK$611.9 million, despite a 4.5% decrease in Renminbi against Hong Kong dollars[24]. - The Southern China fast food business achieved a 9.6% increase in revenue to RMB516.0 million, with same store sales growth of 6%[24]. Cost Management and Efficiency - The Group is focusing on implementing short-term and long-term measures to control costs and drive efficiency to protect margins[10]. - The Group is focused on cost control and efficiency improvements to safeguard margins and return to sustainable growth[11]. - The Group is implementing decisive actions to protect margins by controlling costs and driving efficiency[35]. - The group is focusing on cost control, reviewing and restructuring regular expenses, and enhancing efficiency and productivity to safeguard profit margins[37]. - The Group is focusing on enhancing efficiency and productivity through new kitchen management systems and best-in-class equipment[35]. Dividends and Shareholder Returns - An interim dividend of HK19 cents per share was declared, consistent with the previous year[10]. - The Group declared an interim dividend of HK19 cents per share for the six months ended 30 September 2019, consistent with the dividend declared in 2018[20]. - The company proposed an interim dividend of HK$111,284, slightly up from HK$111,253 in the previous year[80]. - The Company declared dividends amounting to HK$377,011,000 during the period[84]. Business Expansion and Opportunities - The Group is allocating additional resources to capitalize on business opportunities in the Greater Bay Area[11]. - Café de Coral fast food opened 7 new shops during the first half of FY2019/20, ending the period with 165 outlets, compared to 162 outlets as of 31 March 2019[21]. - The Group opened 5 new shops in Mainland China, bringing the total number of outlets to 107 as of 30 September 2019[24]. - An additional 16 shops are planned to open during the second half of the fiscal year[24]. - Asia Pacific Catering gained 3 new major contracts, ending the period with 90 operating units, up from 87 as of 31 March 2019[22]. Financial Position and Cash Flow - The Group's net cash was approximately HK$553 million, with available banking facilities of HK$785 million as of September 30, 2019[30]. - The Group's current ratio was 0.6 and cash ratio was 0.3 as of September 30, 2019[30]. - Cash and cash equivalents decreased to HK$552,693 from HK$835,537, a decline of 34%[70]. - For the six months ended September 30, 2019, net cash generated from operations was HK$922,215,000, compared to HK$990,009,000 for the same period in 2018, representing a decrease of approximately 6.9%[88]. - Net cash used in investing activities was HK$272,624,000, significantly higher than HK$65,206,000 in the previous year, indicating increased investment expenditures[88]. - Net cash used in financing activities totaled HK$888,982,000, a decrease from HK$1,047,435,000 in the prior year, reflecting a reduction in dividend payments and share purchases[88]. Shareholder Equity and Share Options - The total number of issued shares as of September 30, 2019, was 585,704,033[62]. - The total number of shares awarded under the Share Award Scheme shall not exceed 5% of the total issued shares of the company[45]. - The Share Award Scheme allows selected participants to receive restricted and/or performance shares, aiming to attract and retain talent[44]. - The Group's total shareholders' equity was impacted by the acquisition of shares, which was deducted from the equity[174]. - The number of shares lapsed during the period was 1,186,615, with 36,868 shares lapsed from the total[183]. Financial Risks and Accounting Policies - The Group's activities expose it to various financial risks, including market risk, credit risk, and liquidity risk[128]. - The preparation of condensed consolidated interim financial information requires management to make significant judgments and estimates, which may differ from actual results[127]. - The Group's financial statements have been prepared on a going concern basis, reflecting confidence in future cash inflows[96]. - The adoption of new accounting policies, including HKFRS 16, does not have a significant impact on the Group's financial performance and position[99]. Segment Performance - Total segment revenue for the six months ended September 30, 2019, was HK$4,322,516, with external revenue contributing HK$4,263,787[140]. - Segment results showed an operating profit of HK$371,901 before depreciation and amortization, with Hong Kong contributing HK$298,158 and Mainland China HK$73,743[140]. - The Group operates primarily in quick service restaurants and institutional catering, with a focus on geographic segments including Hong Kong and Mainland China[137].

Financial Performance - Revenue for the year ended March 31, 2019, was HK$8,493,883,000, representing a 0.8% increase from HK$8,427,399,000 in 2018[14] - Profit attributable to equity holders of the Company increased by 28.9% to HK$590,285,000 from HK$458,055,000[14] - Basic earnings per share rose by 29.1% to HK$1.02 from HK$0.79[14] - Total assets decreased by 2.6% to HK$4,494,090,000 from HK$4,616,329,000[14] - Net assets fell by 4.2% to HK$3,421,750,000 from HK$3,573,500,000[14] - The Group's revenue for the year amounted to HK$8,494 million, a 0.8% increase compared to the previous financial year, while profit attributable to shareholders rose 28.9% to HK$590 million[28] - The gross profit margin improved to 13.4%, up from 12.4% in FY2017/18, primarily due to a decrease in raw material and packing costs from 28.5% to 27.5% of revenue[38] - Administrative expenses decreased by 2.4% to HK$447.8 million, mainly due to a reduction in share-based compensation expenses[40] - The Hong Kong segment results increased by 11.7% to HK$884.7 million, while Mainland China results increased by 19.1% to HK$162.0 million, attributed to branch network expansion and positive same store sales growth[43] - The Group's return on equity for FY2018/19 was 17%, up from 13% in FY2017/18[73] Dividends - Interim and final dividends per share increased to HK84 cents and HK65 cents, respectively, compared to HK81 cents in the previous year[14] - A final dividend of HK65 cents per share is recommended, with a total dividend payout ratio of 83.3% for the year[28] - The Company’s dividend policy aims to provide regular and stable dividends based on distributable profits and historical payout ratios[170] - An interim dividend of HK19 cents per share was paid during the year, and a final dividend of HK65 cents per share is proposed, totaling approximately HK$380,603,000[182] Business Operations - The casual dining business improved performance by applying lessons learned from previous experiences[17] - The Greater Bay Area was identified as a key driver of growth, with expansion efforts focused on this region[19] - The company maintained a focus on internal enhancement and tighter cost control, which contributed to improved results in the fast food sector[17] - The Group aims to improve operational efficiency and plans to expand its branch network after consolidation during the year[28] - E-channels, including mobile ordering and delivery, represent a significant and growing portion of the business[23] - The Group has a total of 465 operating units as of March 31, 2019, with 16 new shops opened in Mainland China[33] - The revenue distribution for the year ended March 31, 2019, shows Hong Kong QSR & Institutional Catering at 73.8%, Casual Dining at 10.7%, and Others at 1.9%[32] - The Group plans to open 7 new outlets in the coming months as part of its network expansion strategy[52] - The Group opened 16 new stores in Mainland China during the year, ending with 107 stores, and plans to open an additional 20 stores in FY2019/20[62] - The Group's multi-brand strategy aims to capture additional market share by offering a greater variety of dining options, exemplified by the establishment at JP Plaza in Causeway Bay[65] Customer Experience and Engagement - The Group remains confident in continued positive growth, focusing on enhancing customer experience through the Customer Journey[26] - A new customer loyalty program launched in May 2018 significantly increased membership, and the Club 100 Apps were introduced to enhance customer engagement[54] - The Group's focus on improving customer experience included the introduction of self-service kiosks and a meal delivery service to enhance operational efficiency[53] - The introduction of the new sixth-generation (6G) store design has received positive customer feedback, alongside the launch of a Customer Service Ambassador program to enhance customer satisfaction[67] Human Resources and Management - The Group has been investing in human capital to strengthen internal talent development while also making key external hires when necessary[21] - As of March 31, 2019, the Group employed 19,110 staff, an increase from 18,940 the previous year, supporting enhanced customer service initiatives[69] - The Group's internal training programs have received QF Level 4 accreditation, with a focus on developing management capabilities for future growth[70] - The management team includes individuals with advanced degrees from reputable universities, enhancing the company's strategic decision-making capabilities[79] Corporate Governance - The company emphasizes the importance of effective governance through its various committees, including Audit and Remuneration Committees[82] - The Board of Directors consists of ten members, including four Non-executive Directors and four Independent Non-executive Directors, ensuring a balanced composition[108] - The Group complied with all code provisions of the Corporate Governance Code for the year ended March 31, 2019, adopting recommended best practices where relevant[105] - The Company has received annual confirmation of independence from each of the four Independent Non-executive Directors, confirming their independence as per the guidelines of Rule 3.13 of the Listing Rules[113] Risk Management - The Group's Enterprise Risk Management (ERM) approach is a structured mechanism for identifying, evaluating, prioritizing, managing, and monitoring risks, categorized into strategic, operational, financial, and compliance risks[155] - Key risks identified during the year included management succession, brand management, business development, food safety, site acquisition and retention, and supply chain management[155] - The Audit Committee conducted an annual review of the effectiveness of the Group's risk management and internal control systems for the year ended March 31, 2019, finding no significant areas of concern and deeming the systems effective and adequate[156] Community Engagement and Sustainability - Community engagement initiatives include promoting social integration and sustainable living, reflecting the Group's commitment to corporate social responsibility[66] - The Company published a standalone Sustainability Report disclosing performance in Total Customer Satisfaction, Focus on People, Investing in Our Community, and Resource Optimisation for the year ended 31 March 2019[180] - The Group made charitable and other donations totaling HK$663,000 during the year[183] Financial Management - The Group recorded net cash of approximately HK$836 million and had no external borrowing as of March 31, 2019[73] - Capital expenditure for the year was HK$290 million, a decrease from HK$462 million in FY2017/18[74] - The Group's outstanding capital commitments were HK$580 million as of March 31, 2019, compared to HK$480 million a year earlier[74]