Financial Performance - The company reported revenue of HKD 2,425,635,000 for the year, a decrease of 17.8% compared to HKD 2,949,362,000 in the previous year[9]. - The net loss attributable to equity holders was HKD 52,801,000, a significant decline from a profit of HKD 73,655,000 in the prior year, representing a 171.7% decrease[9]. - The gross profit margin fell to 5.5%, down 50% from 11.0% in the previous year[9]. - EBITDA for the Hong Kong business was HKD 220,800,000, a decline of 31.2% from HKD 321,000,000 in the previous year[19]. - In 2024, the group's revenue from mainland China was HKD 801.3 million, a decrease of 31.3% compared to HKD 1,165.9 million in 2023[23]. - EBITDA for the mainland China business fell by 52.3% to HKD 90.1 million, down from HKD 189.1 million in the previous year[23]. - The group closed over 10 restaurants in mainland China, leading to a significant decline in revenue for that segment[23]. - The company reported a loss for the year ending December 31, 2024, with financial details available on pages 39 to 42 of the financial statements[97]. - The total comprehensive loss for the year ended December 31, 2024, was HKD 65,702,000, compared to a total comprehensive income of HKD 72,339,000 in 2023, marking a substantial turnaround in financial results[154]. - The company reported a fair value loss on investment properties of HKD 2,000,000 in 2024, which was not present in 2023, highlighting potential challenges in asset valuation[154]. Assets and Liabilities - Total assets decreased by 14.4% to HKD 1,874,536,000 from HKD 2,188,819,000[9]. - Cash and cash equivalents dropped by 38.2% to HKD 213,316,000 from HKD 345,146,000[9]. - Total equity decreased by 8.0% to approximately HKD 1,154,200,000 as of December 31, 2024, down from HKD 1,254,300,000 in 2023[28]. - Current assets totaled approximately HKD 520,200,000 and current liabilities totaled approximately HKD 499,300,000, resulting in a current ratio of about 1.04, down from 1.13 in 2023[28]. - The company’s total equity attributable to equity holders as of December 31, 2024, was HKD 1,154,163,000, a decrease from HKD 1,243,122,000 in 2023, reflecting the impact of losses on shareholder equity[156]. Dividends and Shareholder Returns - The company decided not to recommend a final dividend for the year ending December 31, 2024, compared to a dividend of HKD 3.00 per share in the previous year[18]. - The company paid dividends totaling HKD 30,430,000 in 2024, consistent with the previous year's dividend payments, indicating a stable dividend policy despite financial losses[155]. Strategic Initiatives - The company aims to enhance its core values by refining product offerings, improving service quality, and renovating restaurants to create a more attractive dining environment[16]. - The company plans to accelerate its digital transformation and focus on cost reduction and efficiency improvements[16]. - The group plans to expand its contract manufacturing business, which has shown significant sales growth, by developing more innovative products[21]. - The group has implemented a digital marketing strategy to attract a broader customer base, utilizing platforms like Xiaohongshu and WeChat[25]. - The company aims to explore overseas market opportunities in Southeast Asia, Australia, and the UK to promote its brand and cuisine[39]. Corporate Governance - The company emphasizes the importance of corporate governance through its various committees, including audit and remuneration[44][48]. - The company has adopted the Corporate Governance Code as per the Hong Kong Stock Exchange and complies with all applicable provisions, except for a deviation regarding the separation of the roles of Chairman and CEO[53]. - The board consists of ten members, including four executive directors, two non-executive directors, and four independent non-executive directors, ensuring a balanced composition for independent discussions[58]. - The company has a diversified board policy that considers factors such as gender, age, cultural background, and professional experience to achieve board diversity[62]. - The company has obtained annual independence confirmation from independent non-executive directors, affirming their independent status[112]. Operational Efficiency - The group successfully introduced non-local labor to alleviate staffing pressures, positively impacting operational efficiency despite stable overall costs[21]. - The company is focused on the overall operation of its food processing and logistics center in Dongguan[43]. - The management team emphasizes the core values of "Three Excellence," "Talent Development," "Integrity," and "Value Creation" to drive business growth and development[55]. Financial Reporting and Compliance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with local accounting regulations[171]. - The company ensures that financial statements are prepared in accordance with relevant laws and listing rules, reflecting the group's affairs and performance accurately[81]. - The audit committee's responsibilities include reviewing the financial reporting process and internal control systems[69]. - The auditor's report provides reasonable assurance that the financial statements are free from material misstatement, but cannot guarantee that all errors will be detected[142]. Market Presence and Expansion - The group has 45 restaurants in Hong Kong as of December 31, 2024, up from 43 in 2023[22]. - The company is expanding its market presence in mainland China with subsidiaries like Shenzhen Binhai Daoxiang Catering Co., Ltd. and Yingxi Palace Catering (Shenzhen) Co., Ltd.[163]. - The company operates primarily in the food and beverage sector, with 100% ownership in various subsidiaries focused on restaurant operations and food production[157]. Risk Management - The board is responsible for evaluating and determining the nature and extent of risks the group can undertake to achieve strategic objectives[83]. - The internal audit department operates independently and reports directly to the audit committee, providing objective assurance on risk management[85]. - The group assesses financial assets and liabilities at the acquisition date to classify and recognize them appropriately, including embedded derivatives in the acquired entity's main contracts[187].

Financial Performance - Revenue for the year ended December 31, 2024, was HKD 2,425,635,000, a decrease of 17.8% compared to HKD 2,949,362,000 in 2023[4] - The company reported a loss attributable to equity holders of HKD 52,801,000, a decline of 171.7% from a profit of HKD 73,655,000 in the previous year[4] - Basic loss per share was HKD 5.21, down 171.7% from HKD 7.26 in 2023[4] - Revenue from mainland China business decreased by 31.3% to HKD 801.3 million, with EBITDA dropping 52.3% to HKD 90.1 million, resulting in a loss attributable to equity holders of HKD 55 million[15] - Revenue from restaurant and bakery operations was HKD 2,134,008, down 18.4% from HKD 2,616,895 in the previous year[43] - Gross profit fell to HKD 133,070, down 59.1% from HKD 325,666 year-on-year[31] - The company incurred a net loss of HKD 45,768, compared to a profit of HKD 85,456 in the previous year[31] - The pre-tax loss attributable to equity holders for 2024 is (52,801,000) HKD compared to a profit of 73,655,000 HKD in 2023[49] - The total tax expense for 2024 is 11,257,000 HKD, significantly reduced from 34,289,000 HKD in 2023[46] Operational Changes - The number of restaurants decreased to 87 from 99, representing a decline of 12.1%[4] - The number of restaurants in mainland China reduced from 39 to 26, reflecting a strategic decision to streamline operations during challenging market conditions[16] - The company has successfully introduced non-local labor to alleviate staffing pressures, positively impacting operational efficiency[13] - The company plans to enhance its product offerings and improve customer satisfaction through menu refinement and service quality improvements[7] - The company plans to expand its restaurant network cautiously while improving logistics efficiency and maintaining strict cost control[28] Assets and Liabilities - Total assets decreased by 14.4% to approximately HKD 1,874.5 million, while total equity value fell by 8.0% to approximately HKD 1,154.2 million[19] - Current assets totaled approximately HKD 520.2 million, down from HKD 649.9 million, with current liabilities at approximately HKD 499.3 million, down from HKD 576.7 million, resulting in a current ratio of 1.04[19] - Non-current liabilities decreased to HKD 221,094 in 2024 from HKD 357,906 in 2023, representing a reduction of 38.2%[34] - Total equity decreased to HKD 1,154,163 in 2024 from HKD 1,254,255 in 2023, a decline of 8.0%[34] - Trade receivables at the end of 2024 amount to 45,770,000 HKD, down from 55,980,000 HKD in 2023[49] - Trade payables at the end of 2024 total 89,828,000 HKD, a decrease from 133,093,000 HKD in 2023[51] Investments and Future Plans - The company aims to expand its contract manufacturing business, which has shown significant sales growth, and plans to develop innovative products to meet diverse customer needs[13] - The company aims to explore overseas market opportunities in Southeast Asia, Australia, and the UK for its frozen and packaged food division[28] - The company will enhance customer experience through diversified marketing initiatives and exclusive offers on digital platforms[26] - The company will continue to invest in technology to optimize logistics and production processes in Hong Kong[27] Dividends and Financial Management - The company will not recommend a final dividend for the year ended December 31, 2024, compared to a dividend of HKD 3.00 in 2023[9] - The company has proposed a final dividend of 30,430,000 HKD for 2023, with no dividend proposed for 2024[52] - The group’s bank borrowings decreased to approximately HKD 55.1 million from HKD 85.7 million, with a debt ratio of approximately 4.8%[20] - The financing cost for 2024 is 18,517,000 HKD, a decrease of 25.3% from 24,798,000 HKD in 2023[44] Employee and Operational Efficiency - The group employed 4,009 staff members and offered competitive compensation and stock option plans to attract and retain talent[24] - Employee benefits expenses for 2024 are 766,502,000 HKD, down 10% from 851,233,000 HKD in 2023[44] - The company is committed to improving service quality through market research and employee training initiatives[26] Compliance and Governance - The company has adopted the standard code of conduct for directors' securities transactions as per the listing rules, confirming compliance for the entire year ending December 31, 2024[56] - The audit committee, established in June 2007, reviewed the annual performance for the year ending December 31, 2024, and confirmed compliance with applicable accounting standards and regulations[58] - The auditor has verified that the financial figures in the preliminary announcement are consistent with the draft consolidated financial statements for the year ending December 31, 2024[59] - The company will hold its annual general meeting for the year 2024 on May 29, 2025, with a notice to be published and sent to shareholders in due course[60] - The electronic version of this announcement will be published on the Hong Kong Stock Exchange website and the company's website[61]

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 1,285,575, a decrease of 14.6% compared to HKD 1,504,553 in the same period of 2023[7]. - Profit attributable to equity holders of the company was HKD 4,022, down 88.0% from HKD 33,400 in the previous year[7]. - Gross profit margin decreased to 7.4% from 12.1%, representing a decline of 38.8%[7]. - Net profit margin fell to 0.3% from 2.2%, a decrease of 86.4%[7]. - The company's profit for the six months ended June 30, 2024, was HKD 9,430,000, a decrease of 73.9% compared to HKD 36,117,000 for the same period in 2023[10]. - Total comprehensive income for the period was HKD 1,185,000, down from HKD 22,251,000, reflecting a significant decline[10]. - Basic and diluted earnings per share were HKD 0.40, down 88.0% from HKD 3.29 in the same period last year[7]. - The group's pre-tax profit for the six months ended June 30, 2024, was HKD 4,022,000, a decrease of 88% compared to HKD 33,400,000 for the same period in 2023[36]. Assets and Liabilities - Total assets as of June 30, 2024, were HKD 1,976,118, down 9.7% from HKD 2,188,819 at the end of 2023[7]. - Non-current assets totaled HKD 1,412,633,000, a decrease of 8.2% from HKD 1,538,932,000 as of December 31, 2023[11]. - Current assets decreased to HKD 563,485,000 from HKD 649,887,000, representing a decline of 13.3%[11]. - Current liabilities were reduced to HKD 451,707,000 from HKD 576,658,000, a decrease of 21.7%[11]. - The company's equity attributable to shareholders decreased to HKD 1,198,740,000 from HKD 1,233,034,000, a decline of 2.8%[12]. - The company's total assets less current liabilities stood at HKD 1,524,411,000, down from HKD 1,612,161,000, a decrease of 5.4%[11]. - The total interest-bearing bank borrowings decreased to approximately HKD 54.9 million from HKD 85.7 million as of December 31, 2023[56]. Cash Flow and Investments - Cash and cash equivalents decreased by 16.0% to HKD 289,974 from HKD 345,146[7]. - The net cash flow from operating activities for the six months ended June 30, 2024, was HKD 139,830,000, down 47.5% from HKD 266,464,000 in the previous year[16]. - The company incurred a net cash outflow from investing activities of HKD 29,398,000, compared to a minimal outflow of HKD 331,000 in the previous year[17]. - The financing activities resulted in a net cash outflow of HKD 175,894,000, compared to HKD 164,503,000 in the same period of 2023[17]. - Cash and cash equivalents at the end of the period were HKD 275,098,000, a decrease from HKD 290,663,000 at the end of the same period in 2023[17]. Revenue Breakdown - Revenue from restaurant and bakery operations was HKD 1,132,831, down from HKD 1,314,907, representing a decline of 13.8%[25]. - Revenue from mainland China was HKD 447,427, a decrease of 26.8% from HKD 612,201 in the previous year[22]. - The company reported a total of HKD 1,285,575 in revenue from customer contracts, consistent with the total revenue figure[26]. - Sales in the self-operated supermarket business fell by approximately 20%, but gross margin increased by about 3% due to product mix adjustments[54]. Operational Changes - The company launched various promotional activities, including the "One Dollar" series and "$9.9" late-night hot pot, to attract customers[50]. - The company aims to source quality ingredients at reasonable prices to combat high food and labor costs[51]. - The logistics center successfully acquired new clients for contract manufacturing, enhancing its service offerings[51]. - The group plans to implement a multi-brand strategy by opening more specialty restaurants to enhance brand recognition and competitive advantage[62]. - The logistics center achieved FSSC 22000 certification, which is expected to increase confidence in food safety and attract more large chain restaurant processing contracts[62]. Future Outlook - The group anticipates a challenging economic and business environment in Hong Kong and mainland China for the second half of 2024, adopting a prudent operational and development strategy[62]. - Future market expansion will target overseas regions including Malaysia, Thailand, Australia, and the UK to increase sales and profits[62]. - The group will continue to invest in enhancing equipment and manufacturing technology to broaden product variety[62]. - The group aims to expand its product offerings and improve product quality in response to rising customer expectations in mainland China[62]. Shareholder Information - Major shareholder Billion Era International Limited holds 423,434,689 shares, representing 41.74% of the issued share capital[68]. - The board has resolved not to declare an interim dividend for the six months ending June 30, 2024[63]. - The company expresses gratitude to management, employees, shareholders, business partners, banks, and auditors for their support during the reporting period[76].

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 1,285,575, a decrease of 14.6% compared to HKD 1,504,553 in the same period of 2023[1]. - Profit for the period was HKD 9,430, down 73.9% from HKD 36,117 in the previous year[1]. - Basic earnings per share for the period was HKD 0.40, a decrease of 88.0% from HKD 3.29 in the same period of 2023[1]. - The total comprehensive income for the period was HKD 1,185, significantly lower than HKD 22,251 in the same period of 2023[4]. - The pre-tax profit for the six months ended June 30, 2024, was HKD 4,022,000, compared to HKD 33,400,000 for the same period in 2023, representing a significant decrease[22]. - The total tax expense for the six months ended June 30, 2024, was HKD 2,959,000, slightly up from HKD 2,857,000 in 2023[19]. Revenue Breakdown - Revenue from restaurant and bakery operations was HKD 1,132,831, down 13.8% from HKD 1,314,907 in the previous year[15]. - Revenue from food sales and other items decreased to HKD 90,850, a decline of 18.5% from HKD 111,516 in the prior period[15]. - Revenue from livestock breeding operations was HKD 61,894, down 20.7% from HKD 78,130 in the previous year[15]. - Hong Kong business revenue was approximately HKD 838,100,000, down 6.1% from HKD 892,400,000 in 2023[29]. - Revenue from mainland China operations was approximately HKD 447,400,000, down 26.9% from HKD 612,200,000 in 2023[31]. Asset and Liability Changes - Total non-current assets as of June 30, 2024, were HKD 1,412,633, a decrease from HKD 1,538,932 as of December 31, 2023[5]. - Current assets decreased to HKD 563,485 from HKD 649,887 as of December 31, 2023[5]. - Total liabilities decreased to HKD 451,707 from HKD 576,658 as of December 31, 2023[5]. - The total equity attributable to the company's equity holders was HKD 1,198,740, down from HKD 1,233,034 as of December 31, 2023[7]. - Total assets decreased by 9.7% to approximately HKD 1,976,100,000 as of June 30, 2024, compared to HKD 2,188,800,000 on December 31, 2023[34]. - Total liabilities decreased to approximately HKD 54,900,000, down from HKD 85,700,000 on December 31, 2023, resulting in a debt ratio of 4.6% compared to 7.0% previously[35]. Operational Changes - The number of restaurants and bakeries decreased to 90 as of June 30, 2024, down 19.6% from 112 in the previous year[1]. - The group closed several underperforming outlets in mainland China, reducing the total number of restaurants from 41 to 30[31]. - The group launched over 30 new frozen and packaged food products during the period[32]. - Self-operated supermarket sales decreased by approximately 20%, but gross profit margin increased by about 3%[33]. - The group plans to implement promotional activities and introduce cost-effective products to attract more customers, including extending early morning tea promotions and offering discounted menu items during lunch and dinner[42]. Employee and Governance - As of June 30, 2024, the group had 4,231 employees and offers competitive compensation and internal training programs to retain talent[41]. - The company has adopted the corporate governance code as per the Stock Exchange Listing Rules, with the exception of the separation of the roles of Chairman and CEO, which is deemed appropriate by the board[45][46]. - The audit committee, established in June 2007, has reviewed the unaudited condensed consolidated interim financial statements for the six months ending June 30, 2024, and confirmed compliance with applicable accounting standards[49]. Future Outlook - The group aims to expand its restaurant network and improve logistics efficiency while maintaining strict cost control and healthy cash flow to ensure sustainable business growth[43]. - The group will actively explore overseas markets, including Malaysia, Thailand, Australia, and the UK, to increase sales and profitability[43]. - The group anticipates a challenging economic environment in Hong Kong and mainland China for the second half of 2024, prompting a cautious operational strategy[42].

Financial Performance - Revenue for the year 2023 reached HKD 2,949,362,000, an increase of 22.8% compared to HKD 2,401,849,000 in 2022[5] - Profit attributable to equity holders was HKD 73,655,000, a significant improvement of 151.5% from a loss of HKD 143,138,000 in the previous year[5] - Gross profit margin increased to 11.0%, up from 0.4% in 2022, representing a growth of 2,650.0%[5] - Total revenue for the year ended December 31, 2023, was HKD 2,949,400,000, representing a year-on-year increase of 22.8% from HKD 2,401,800,000 in 2022[19] - Gross profit margin improved to 65.8% in 2023, up from 62.4% in 2022[19] - The company achieved a profit attributable to equity holders of HKD 73,700,000, a turnaround from a loss of HKD 143,100,000 in 2022[19] - The company reported a profit before tax of HKD 119,745,000, recovering from a loss of HKD 157,343,000 in 2022[164] - Net profit for the year was HKD 85,456,000, compared to a loss of HKD 137,019,000 in the prior year[164] - Basic and diluted earnings per share for the year were HKD 7.26, a turnaround from a loss of HKD 14.11 per share in 2022[164] - The total comprehensive income for the year was HKD 84,013,000, recovering from a loss of HKD 242,229,000 in the previous year[166] Cash Flow and Assets - Cash and cash equivalents rose to HKD 345,146,000, a 37.0% increase from HKD 251,854,000 in 2022[5] - Current assets increased to approximately HKD 649,900,000 from HKD 582,800,000 in 2022, with a current ratio of approximately 1.13 compared to 0.88 in 2022[32] - Operating cash flow increased to HKD 523,258,000 in 2023, up from HKD 254,558,000 in 2022, reflecting a growth of approximately 105%[174] - Cash and cash equivalents at the end of 2023 amounted to HKD 344,598,000, an increase from HKD 193,311,000 at the end of 2022[176] - The net cash flow from investing activities was a negative HKD 33,118,000 in 2023, an improvement from a negative HKD 87,073,000 in 2022[176] - The company reported a decrease in trade receivables by HKD 8,882,000 in 2023, compared to an increase of HKD 8,325,000 in 2022[174] Business Strategy and Market Outlook - The company is focusing on enhancing brand value through restaurant renovations and diversifying income sources with new brands[10] - The restaurant business in Hong Kong showed significant growth, particularly in daytime and banquet services[11] - The outlook for 2024 is challenging due to labor shortages and high ingredient prices, but the company remains optimistic about long-term growth potential[11] - The company is strategically controlling costs and adjusting its business model in response to market conditions[11] - The company plans to continue developing the "Zhong Cuisine" brand due to its strong performance[22] - The company plans to explore overseas markets for its frozen and packaged food segment, which has significant potential[30] - The group anticipates continued growth in its contract manufacturing business, driven by rising market demand, with revenue expected to increase in 2024[41] Corporate Governance and Compliance - The company has adopted the corporate governance code and complies with all applicable provisions, except for the separation of the roles of Chairman and CEO, which is deemed appropriate for the company's interests[57] - The company has a dedicated management team with extensive experience in financial management, accounting, and internal controls[53] - The company has a structured approach to risk assessment and internal controls to safeguard shareholder interests[57] - The board consists of ten members, including four executive directors, two non-executive directors, and four independent non-executive directors[62] - The company has complied with all applicable provisions of the Corporate Governance Code, except for the separation of the roles of Chairman and CEO, which are held by the same individual[65] Shareholder Information - The company proposed a final dividend of HKD 0.03 per share, totaling approximately HKD 30,430,000, subject to shareholder approval at the annual general meeting on June 6, 2024[104] - As of December 31, 2023, the company's distributable reserves amounted to HKD 840,087,000, which includes the proposed final dividend[118] - The top five customers accounted for less than 30% of total sales, while the top five suppliers represented approximately 16.3% of total purchases[120] Operational Adjustments - The company reduced the number of Tai Cheong Bakery outlets in Hong Kong from 8 to 6, reallocating resources to more profitable locations[26] - The company is not planning to open new outlets in Singapore due to a challenging economic environment but aims to expand the Tai Cheong brand through partnerships with international operators[26] - The company is actively engaging in R&D to meet diverse customer needs, expanding its product offerings to include Western-style products[25] Legal and Financial Matters - The total audit fees paid to Ernst & Young for the year ended December 31, 2023, amounted to HKD 3,655,000, an increase from HKD 3,544,000 in the previous year[88] - The company has complied with all relevant laws and regulations without any significant violations during the year[104] - The group incurred legal expenses of HKD 885,000 in 2023, an increase of 32.3% from HKD 669,000 in 2022[136] Employee and Training Initiatives - The group will invest more resources in employee training and implement reward programs to improve service quality[41] - The company invests resources in nurturing employees and aspiring individuals in the catering industry[60] Market Expansion and Subsidiaries - The company has maintained a 100% ownership in its major subsidiaries, focusing on investment holding and restaurant operations[179] - The company operates several restaurants in mainland China, including Guangzhou and Shenzhen, with registered capital values of HKD 7,000,000 to HKD 36,000,000[185] - The company has established a strong presence in the food and beverage sector, with a focus on restaurant operations and investment holdings across Hong Kong and mainland China[184]

Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 2,949,362,000, representing a year-on-year increase of 22.8% from HKD 2,401,849,000[3]. - The net profit attributable to shareholders was HKD 73,655,000, a significant turnaround from a loss of HKD 143,138,000 in the previous year, marking a 151.5% improvement[3]. - The basic earnings per share was HKD 7.26, compared to a loss of HKD 14.11 in the previous year, reflecting a 151.5% increase[3]. - EBITDA increased by 76.3% to HKD 321,000,000, compared to HKD 182,100,000 in the previous year[18]. - The gross profit margin improved to 65.8%, up from 62.4% in the previous year[10]. - The gross profit for 2023 was HKD 325,666,000, compared to HKD 10,470,000 in 2022, indicating a significant recovery[57]. - The net profit for the year was HKD 85,456,000, a turnaround from a loss of HKD 137,019,000 in 2022[57]. - The group reported a pre-tax profit of HKD 6,861,000 from bank interest income, down from HKD 7,998,000 in the previous year[67]. - The group’s total tax expense for the year was HKD 34,289,000, compared to a tax credit of HKD 20,324,000 in 2022[71]. Revenue Breakdown - Revenue contribution from the Hong Kong business was HKD 1,783,400,000, up 36.4% from HKD 1,307,600,000 in the previous year[18]. - Revenue from mainland China business reached HKD 1,165,900,000, an increase of 6.5% compared to HKD 1,094,200,000 in 2022[23]. - The operating segment of restaurants and bakeries generated revenue of HKD 2,616,895,000, up from HKD 2,011,308,000, reflecting a growth of 30.1%[67]. - Revenue from Hong Kong increased to HKD 1,783,447,000 in 2023, up 36.3% from HKD 1,307,605,000 in 2022[89]. - Revenue from Mainland China rose to HKD 1,165,915,000 in 2023, a 6.5% increase from HKD 1,094,244,000 in 2022[89]. Business Operations - The number of restaurants and bakeries as of December 31, 2023, was 99, down from 122, indicating an 18.9% decrease[3]. - The company plans to adjust its business model and strategies in response to challenges such as labor shortages and high ingredient prices in 2024[13]. - The company will not consider expanding its restaurant network in the near term due to economic uncertainties but may open smaller outlets in the future[30]. - The supermarket business, although underperforming, helps attract new customers and strengthen connections with existing ones[26]. - The company anticipates continued growth in its contract manufacturing business in 2024[29]. - The contract manufacturing business has seen growth, expanding its product range to include Western-style products[21]. Customer Engagement and Marketing - The company has launched various promotional activities to enhance sales, including value-for-money offerings[20]. - The company plans to enhance service quality and improve dining experiences through detailed customer analysis and targeted strategies[29]. - The "Chao Xi Hui" brand, launched in early 2023, successfully attracted over 100 couples for wedding events within its first year[36]. - The "YI Hao Yu Chuan" brand, launched in Q4 2023, has seen a steady increase in customer numbers, primarily aged between 25 to 40[36]. - The online frozen and packaged food segment is promoted through popular e-commerce platforms, with plans to explore overseas markets in the coming years[37]. - The company plans to leverage social media platforms to enhance brand awareness and expand business in mainland China[55]. Financial Position and Management - The total assets decreased by 3.7% to approximately HKD 2,188,800,000 as of December 31, 2023, compared to HKD 2,273,000,000 in 2022[52]. - The current ratio improved to approximately 1.13 in 2023 from 0.88 in 2022, indicating better liquidity management[52]. - The company aims to control costs and improve cash flow and operational efficiency amid rising labor and ingredient costs[46][52]. - Total non-current liabilities decreased to HKD 357,906,000 from HKD 368,795,000, a reduction of 2.4%[60]. - The net asset value increased to HKD 1,254,255,000 from HKD 1,243,122,000, representing a growth of 0.9%[61]. - Non-current assets decreased to HKD 1,348,632,000 in 2023 from HKD 1,485,382,000 in 2022, reflecting a decline of 9.2%[90]. Employee and Governance - The group’s employee benefit expenses rose to HKD 763,564,000 from HKD 674,932,000, marking an increase of 13.2%[68]. - The company aims to invest more resources in employee training and implement reward programs to enhance service quality[29]. - The company’s board consists of ten directors, including four executive directors and four independent non-executive directors[125]. - The company has established an audit committee to oversee financial reporting and internal control systems[108]. - The audit committee reviewed the annual performance for the year ending December 31, 2023, and confirmed compliance with applicable accounting standards[124]. Dividends and Shareholder Information - The proposed final dividend for 2023 is HKD 0.03 per share, consistent with the previous year[98]. - The company plans to propose a final dividend subject to approval at the upcoming annual general meeting[70]. - The company will hold its annual general meeting on May 30, 2024, to approve the proposed dividend[110].

Tao Heung Holdings Limited 稻香控股有限公司* (於開曼群島註冊成立之有限公司) 股份代號：573 NIS BOOK ANDRY 2010 BION DIEGO DIEGO DIEGO DIEGO DIVEN BOOK BOOK ON N DONE ROOM RED REE END EDIE ARE DOOD DOOD DOOD DOO WAR BOOK BOOK BOOK ARE DOOD DOOD BOOK BOOK BOO * 僅供識別 目錄 3 財務摘要 4 簡明綜合損益表 簡明綜合全面收益報表 8 簡明綜合現金流量報表 22 管理層討論與分析 | --- | --- | |-------------------------------|------------------------------------------------------------------------------------| | | | | 董事會 | 註冊辦事處 | | 執行董事 | Cricket Square, Hutchins Drive | | 鍾偉平先生 （主席及行政總裁） | P. ...

香港交易及結算所有限公司以及香港聯合交易所有限公司對本公告的內容概 不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不會就因本公 告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何 責任。 TAO HEUNG HOLDINGS LIMITED * 稻香控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：573） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 未 經 審 核 中 期 業 績 公 告 摘要 截至六月三十日止六個月 變動百分比 二零二三年 二零二二年 增加╱（減少） （千港元） （千港元） 收益 1,504,553 1,058,425 42.2% 期內溢利╱（虧損） 36,117 (98,283) 136.7% 母公司擁有人應佔 溢利╱（虧損） 33,400 (101,392) 132.9% 港仙 港仙 ...

於本公司普通股好倉： 附註： (b) 該12,174,222股股份由鍾偉平先生的配偶陳細英女士持有。 或然負債 人民幣乃不能自由兌換的貨幣，其未來匯率可因中國政府所施加的管制而較現時或過往的匯率大幅波動。匯率亦可受 本地及國際經濟發展及政治轉變以及人民幣的供求所影響。人民幣兌港元升值或貶值，均可影響本集團的業績。 人力資源 前景 未來，本集團將繼續秉持「三優」標準，包括「優質出品」、「優質服務」及「優質環境」為助其把握後疫情時代市場復甦帶 來的商機。展望未來，稻香將繼續鞏固其業務基礎，推動銷售，同時著力控制成本，進一步鞏固其作為香港領先中式 餐飲集團的地位。憑藉多元化的品牌組合及提供優質食品及服務的承諾，本集團致力滿足不同顧客群的需要，為股東 創造長遠價值。 鍾偉平先生，銅紫荊星章，榮譽勳章，太平紳士，63歲，於二零零五年十二月二十九日獲委任為執行董事。鍾先生 為董事會主席及行政總裁兼本集團創辦人之一。鍾先生主要負責整體企業策略、規劃及業務發展。鍾先生於一九九一 年創立本集團，擁有逾50年的中式飲食業經驗。鍾先生於一九七五年開始在香港一間本地食肆擔任學廚，其後於 一九八五年成為中國廣州花園酒店的助理總廚。於一 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 TAO HEUNG HOLDINGS LIMITED * 稻 香 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：573） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 業 績 公 佈 建 議 修 訂 公 司 組 織 章 程 大 綱 及 組 織 章 程 細 則 摘要 截至十二月三十一日止年度 增加╱ （減少） 二零二二年 二零二一年 百分比 （千港元） （千港元） 2,401,849 收益 2,836,098 (15.3) (137,019) 年內虧損 (19,074) 618.4 (143,138) 母公司擁有人應佔虧損 (21,232) 574.2 港仙 港仙 ...