[Corporate Information](index=2&type=section&id=Corporate%20Information) This section provides essential administrative and contact information, including board members, principal bankers, auditors, legal advisors, registered office, principal place of business, share registrar, company website, and stock code - Board members include Executive Directors Cheng Pak Man (Chairman), Cheng Pak Lai (Managing Director), Cheng Pak Ming, and Independent Non-Executive Directors Hung Chi Yuen, Yuen Siu Cheung, Lo Kwok Tai[5](index=5&type=chunk)[6](index=6&type=chunk) - The company's auditor is BDO Limited (Hong Kong)[5](index=5&type=chunk)[6](index=6&type=chunk) - The company's stock code is **00657**[10](index=10&type=chunk) [Chairman's Statement](index=4&type=section&id=Chairman's%20Statement) The Chairman's Statement reports a slight 1.4% consolidated revenue growth and narrowed net loss for FY2025, with Tsim Sha Tsui branch revenue growing double-digits post-renovation, while Kwun Tong branch revenue significantly declined due to cross-border consumption and economic pressures; the Board recommends no final dividend, anticipating a challenging operating environment and focusing on cautious expansion in mid-sized restaurants and diversified investment opportunities 2025 Fiscal Year Key Financial Data (Chairman's Statement) | Indicator | 2025 (Million HKD) | 2024 (Million HKD) | Change (Million HKD) | YoY Change (%) | | :--- | :----------------- | :----------------- | :--------------- | :----------- | | Consolidated Revenue | 50.2 | 49.5 | +0.7 | +1.4% | | Net Loss | (5.4) | (6.2) | +0.8 (Loss narrowed) | -12.9% | | Loss per Share | (0.28) HK cents | (0.32) HK cents | +0.04 (Loss narrowed) | -12.5% | - The Board has resolved not to recommend any final dividend for the year ended March 31, 2025 (2024: nil)[13](index=13&type=chunk)[17](index=17&type=chunk) - The Tsim Sha Tsui branch, after renovation completion in early April 2024, showed continuous revenue improvement with **double-digit growth**, primarily due to new decor attracting more business and private events, 40th-anniversary promotions, and increased Southeast Asian tourists[14](index=14&type=chunk)[19](index=19&type=chunk) - Kwun Tong branch revenue significantly declined, mainly due to increased preference for Hong Kong residents to cross the border for shopping and dining in mainland China, coupled with economic pressures and rising interest rates leading to cautious consumer spending[21](index=21&type=chunk)[24](index=24&type=chunk) - The Group anticipates an extremely difficult operating environment in the coming year, with a strategy to focus on opening or operating mid-sized restaurants, adopting a more cautious approach to expansion and capital investment, and seeking new investment opportunities in Hong Kong, mainland China, and Australia to diversify revenue sources[22](index=22&type=chunk)[25](index=25&type=chunk)[26](index=26&type=chunk) [Management Discussion and Analysis](index=7&type=section&id=Management%20Discussion%20and%20Analysis) This section details the Group's financial performance, attributing the narrowed net loss to increased revenue, reduced staff costs, and higher interest income; strong Tsim Sha Tsui performance was offset by a significant decline in Kwun Tong revenue, while the Group maintains ample liquidity with no bank loans and reiterates its cautious business development and diversified investment strategy 2025 Fiscal Year Financial Review (Management Discussion and Analysis) | Indicator | 2025 (Million HKD) | 2024 (Million HKD) | Change (Million HKD) | YoY Change (%) | | :--- | :----------------- | :----------------- | :--------------- | :----------- | | Consolidated Revenue | 50.2 | 49.5 | +0.7 | +1.4% | | Net Loss | (5.4) | (6.2) | +0.8 (Loss narrowed) | -12.9% | | Gross Profit | Maintained last year's level | Maintained last year's level | - | - | | Other Income and Losses | 1.8 | 1.4 | +0.4 | +28.6% | | Staff Costs | 23.1 | 23.4 | (0.3) | -1.3% | | Depreciation | 0.4 | 0.2 | +0.2 | +100.0% | - The reduction in net loss was primarily due to increased revenue, decreased staff costs, and higher interest income[29](index=29&type=chunk)[34](index=34&type=chunk) - Gross profit remained at last year's level, as increased food costs of approximately **4%** and a **0.7%** decline in gross profit margin offset the impact of higher revenue[30](index=30&type=chunk)[35](index=35&type=chunk) - Other income and losses increased by approximately **HKD 0.4 million**, mainly driven by a **HKD 1 million** increase in interest income and a **HKD 0.5 million** increase in imputed interest income from a director's loan, but with no COVID-19 related rental concessions (2024: approximately HKD 1.1 million)[31](index=31&type=chunk)[36](index=36&type=chunk) - Following the completion of renovation works at Tsim Sha Tsui Chiu Chow City Restaurant in early April 2024, revenue increased by approximately **13%** year-on-year, but this was fully offset by a year-on-year revenue decrease of approximately **14%** at the Kwun Tong restaurant[46](index=46&type=chunk)[48](index=48&type=chunk) - Kwun Tong branch revenue significantly declined, mainly due to increased preference for Hong Kong residents to cross the border for shopping and dining in mainland China, coupled with economic pressures and rising interest rates leading to cautious consumer spending[46](index=46&type=chunk)[48](index=48&type=chunk) - As of March 31, 2025, the Group's bank and cash balances were approximately **HKD 21 million**, with no bank loans, a **zero debt-to-equity ratio**, and sufficient working capital[50](index=50&type=chunk)[55](index=55&type=chunk)[56](index=56&type=chunk) - The Group's primary sales, purchases, and cash balances are denominated in HKD, with foreign exchange risk mainly arising from AUD-denominated bank deposits and a director's loan; management will closely monitor and consider hedging[52](index=52&type=chunk)[58](index=58&type=chunk) - The Group's business model and strategy aim to create positive returns for shareholders through sustainable development and seek growth by offering innovative products/services, strict cost control, and business diversification, including exploring new investment opportunities in Hong Kong, mainland China, and Australia[62](index=62&type=chunk)[65](index=65&type=chunk)[66](index=66&type=chunk) [Corporate Governance Report](index=12&type=section&id=Corporate%20Governance%20Report) This report outlines the Group's corporate governance practices, including compliance with Listing Rules and addressing minor deviations like the resolved separation of Chairman and CEO roles; it details the Board's composition, responsibilities, and the operations of its Remuneration, Nomination, and Audit Committees, emphasizing risk management, internal controls, and shareholder communication [Corporate Governance Code](index=12&type=section&id=Corporate%20Governance%20Code) The company adopted the Corporate Governance Code in Appendix C1 Part 2 of the Listing Rules, complying with its provisions for FY2025, except for C.2.1 (separation of Chairman and CEO roles, now resolved) and C.3.3 (directors' appointment letters, addressed by reference to guidelines) - The Company has adopted the Corporate Governance Code as set out in Appendix C1 Part 2 of the Listing Rules[71](index=71&type=chunk) - For the year ended March 31, 2025, the Company has complied with the code provisions of the Corporate Governance Code, except for code provision C.2.1 (roles of Chairman and Chief Executive to be separate) and C.3.3 (directors' appointment letters)[69](index=69&type=chunk)[71](index=71&type=chunk) - The deviation from code provision C.2.1 was resolved following Mr. Cheng Hop Fai's retirement as Chairman of the Board on August 16, 2024, and Ms. Cheng Pak Man's appointment as Chairman of the Board and Ms. Cheng Pak Lai's appointment as Managing Director[69](index=69&type=chunk)[72](index=72&type=chunk)[110](index=110&type=chunk)[112](index=112&type=chunk) - For directors without formal appointment letters, the Company requires them to perform their duties by referring to guidelines such as the "Guidelines on Directors' Duties" and "A Guide for Directors" to meet the objective of code provision C.3.3[73](index=73&type=chunk)[76](index=76&type=chunk) [Directors' Securities Transactions](index=13&type=section&id=Directors'%20Securities%20Transactions) The company adopted the Model Code in Appendix C3 of the Listing Rules for directors' securities transactions, and all directors confirmed compliance for the year ended March 31, 2025 - The Company has adopted the Model Code as set out in Appendix C3 of the Listing Rules as its own code of conduct regarding directors' securities transactions[74](index=74&type=chunk)[77](index=77&type=chunk) - All Directors confirmed that they have complied with the required standards set out in the Model Code for the year ended March 31, 2025[74](index=74&type=chunk)[77](index=77&type=chunk) [Board of Directors](index=13&type=section&id=Board%20of%20Directors) The Board comprises three Executive and three Independent Non-Executive Directors, ensuring diverse expertise and compliance with Listing Rules; members retire by rotation and are eligible for re-election, with detailed meeting minutes and opportunities for INEDs to meet the Chairman privately, confirming effective mechanisms for independent input - The Board currently comprises three Executive Directors and three Independent Non-Executive Directors, complying with Listing Rules 3.10(1), 3.10(2), and 3.10A[75](index=75&type=chunk)[78](index=78&type=chunk)[85](index=85&type=chunk)[87](index=87&type=chunk) - Board members possess core competencies in accounting and finance, business management, industry knowledge, and marketing strategies, ensuring Board diversity[84](index=84&type=chunk)[86](index=86&type=chunk) - All Directors are required to retire by rotation at least once every three years and are eligible for re-election[80](index=80&type=chunk)[81](index=81&type=chunk)[97](index=97&type=chunk) 2025 Fiscal Year Board and General Meeting Attendance | Director Name | Board Attendance | General Meeting Attendance | | :--- | :--- | :--- | | Cheng Hop Fai (retired on August 16, 2024) | 1/6 | 1/1 | | Cheng Pak Ming | 3/6 | 1/1 | | Cheng Pak Man | 3/6 | 1/1 | | Cheng Pak Lai | 3/6 | 1/1 | | Lo To Ming (retired on August 16, 2024) | 3/6 | 0/1 | | Hung Chi Yuen | 6/6 | 1/1 | | Yuen Siu Cheung | 6/6 | 1/1 | | Lo Kwok Tai (appointed on June 19, 2024) | 4/6 | 1/1 | - The Chairman of the Board meets with the Independent Non-Executive Directors at least once a year to discuss any issues and concerns, without the presence of other Directors[94](index=94&type=chunk) [Financial Reporting](index=17&type=section&id=Financial%20Reporting) Directors confirm responsibility for preparing financial statements that truly and fairly reflect the Group's financial position, ensuring compliance with accounting standards and statutory rules, and the Board is unaware of any material uncertainties that could significantly question the company's going concern ability - Directors confirm their responsibility for preparing the Group's financial statements, which truly and fairly reflect the Group's financial position, and ensuring compliance with applicable accounting standards, statutory rules, and guidelines[98](index=98&type=chunk)[100](index=100&type=chunk) - The Board is not aware of any material uncertainties that could cast significant doubt upon the Company's ability to continue as a going concern[98](index=98&type=chunk)[100](index=100&type=chunk) [Risk Management and Internal Controls](index=17&type=section&id=Risk%20Management%20and%20Internal%20Controls) The Board is responsible for establishing, maintaining, and reviewing risk management and internal control systems to provide reasonable assurance of financial and operational information reliability, operational effectiveness, and asset safeguarding; the Group's internal audit function regularly reviews key control areas and reports to the Audit Committee, ensuring independent, effective, and adequately resourced systems - The Board acknowledges its overall responsibility for establishing, maintaining, and reviewing the risk management and internal control systems to provide reasonable assurance regarding the reliability and integrity of financial and operational information, effectiveness and efficiency of operations, safeguarding of assets, and compliance with laws and regulations[99](index=99&type=chunk)[101](index=101&type=chunk) - The Group's risk management and internal control systems are based on an internal control manual and governed by principles such as organization, segregation of duties, physical controls, authorization and approval, computation and accounting, personnel, supervision, and management[102](index=102&type=chunk)[108](index=108&type=chunk) - The Group maintains an internal audit function responsible for reviewing key operational and financial controls, risk management, and internal control systems, reporting directly to the Chairman of the Audit Committee[109](index=109&type=chunk)[111](index=111&type=chunk) - The Audit Committee is satisfied that the internal audit function is independent, effective, staffed with appropriately qualified and experienced personnel, adequately resourced, and holds an appropriate standing to fulfill its responsibilities[109](index=109&type=chunk)[111](index=11

Core Viewpoint - The company reported a slight increase in revenue but continued to face net losses, primarily due to challenges in specific locations and changing consumer behaviors in Hong Kong [1][2]. Group 1: Financial Performance - For the fiscal year ending March 31, 2025, the company recorded a consolidated revenue of approximately HKD 50.2 million, representing a year-on-year increase of about 1.4% [1]. - The net loss for the year was approximately HKD 5.4 million, a reduction of about HKD 0.8 million compared to the previous year's net loss of HKD 6.2 million [1]. - Basic and diluted loss per share was HKD 0.28 [1]. Group 2: Operational Highlights - The renovation of the restaurant in Tsim Sha Tsui was completed in early April 2024, positively impacting the company's revenue [1]. - The Tsim Sha Tsui restaurant contributed to a revenue increase of approximately 13% year-on-year, driven by a new image, increased bookings for events and private parties, and a promotional campaign for the 40th anniversary [1]. - However, the revenue improvement from the Tsim Sha Tsui location was completely offset by a year-on-year decline of approximately 14% in revenue from the Kwun Tong restaurant, which continues to face a challenging operating environment [1]. Group 3: Market Challenges - The significant decline in revenue at the Kwun Tong restaurant was influenced by changes in daily life and consumer spending patterns among Hong Kong residents [2]. - Increased remote working arrangements and a reduction in corporate events and social gatherings negatively impacted lunch business at the Kwun Tong restaurant [2]. - The decline in nightlife activity in Hong Kong also had a direct adverse effect on the restaurant's dining business [2].

G-VISION INTERNATIONAL (HOLDINGS) LIMITED 環科國際集團有限公司 * 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告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 （於百慕達註冊成立之有限公司） （股份代號：657） 截至2025年3月31日止年度之業績公布 環科國際集團有限公司（「本公司」）之董事（「董事」）會（「董事會」）宣布，本公司及 其附屬公司（「本集團」）截至2025年3月31日止年度之經審核綜合業績，連同截至 2024年3月31日止年度之比較數字如下： 綜合損益及其他全面收益表 截至2025年3月31日止年度 | | | 2025年 | 2024年 | | --- | --- | --- | --- | | | 附註 | 千港元 | 千港元 | | 收入 | 3 | 50,230 | 49,549 | | 銷售成本 | | (14,373) | (13,807) | | 毛利 | | 35,857 | 35,742 | | 其他收入及虧損 | ...

Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 24,232,000, a decrease of 0.8% compared to HKD 24,422,000 for the same period in 2023[3] - Gross profit for the period was HKD 17,363,000, down from HKD 17,679,000 in the previous year, reflecting a gross margin of approximately 71.7%[3] - The company reported a loss attributable to shareholders of HKD 3,398,000 for the six months ended September 30, 2024, compared to a loss of HKD 3,634,000 in the same period last year[3] - The net loss attributable to shareholders for the period was approximately HKD 3,398,000, compared to a net loss of HKD 3,634,000 for the same period last year[20] - Gross profit decreased from approximately HKD 17,700,000 to about HKD 17,400,000, attributed to a reduction in revenue and a decrease in gross profit margin by 0.7%[25] Assets and Liabilities - Total assets as of September 30, 2024, were HKD 46,242,000, slightly down from HKD 46,610,000 as of March 31, 2024[7] - Current liabilities increased to HKD 42,941,000 from HKD 38,653,000, indicating a rise in operational obligations[7] - The company’s non-current liabilities decreased to HKD 3,221,000 from HKD 4,869,000, showing improved long-term financial stability[7] - Accounts receivable as of September 30, 2024, were HKD 141,000, down from HKD 510,000 as of March 31, 2024, reflecting a decrease in outstanding customer payments[16] Cash and Liquidity - The company’s cash and cash equivalents increased significantly to HKD 41,745,000 from HKD 25,500,000, indicating better liquidity management[7] - The group had cash and bank balances of approximately HKD 42,500,000 as of September 30, 2024, with a capital debt ratio of zero due to no bank loans[34] Other Income and Expenses - Other income increased by approximately HKD 400,000, mainly due to foreign exchange gains from AUD deposits and an increase in interest income, offset partially by a decrease in rental concessions[26] - Employee costs totaled approximately HKD 11,600,000, an increase from HKD 11,500,000 in the previous year, primarily due to hiring more part-time staff[27] Business Performance - The restaurant business in Hong Kong generated revenue of approximately HKD 24,200,000, a decrease of about HKD 200,000 compared to the previous year[31] - The Tsim Sha Tsui restaurant's revenue increased by approximately 13% year-on-year, positively impacted by renovations and promotional activities[31] - The group anticipates improved performance in the restaurant business during the upcoming festive season, despite ongoing challenges from changing consumer patterns and rising costs[40] Corporate Governance - The company has adopted the corporate governance code as per the listing rules, but did not comply with certain provisions regarding the separation of roles between the chairman and CEO until August 16, 2024[43] - The audit committee consists of three independent non-executive directors and has reviewed the interim financial statements for the six months ended September 30, 2024[46] - The remuneration committee is responsible for recommending the remuneration policy for directors and senior management[47] - The nomination committee reviews the board's structure and diversity at least annually to align with the company's business needs and future development[48] - All directors confirmed compliance with the standards for securities trading during the six months ended September 30, 2024[50] Dividends and Securities - The board has resolved not to declare any interim dividend for the six months ended September 30, 2024[38] - The company did not purchase, sell, or redeem any of its listed securities during the six months ended September 30, 2024[42] Reporting - The interim results announcement will be published on the company's website and the stock exchange's website[51] - The company did not recognize any tax provision due to the absence of taxable profits during the reporting periods[17] - Other comprehensive income for the period included a fair value gain of HKD 205,000, compared to a loss of HKD 140,000 in the previous year[5]

23-24 # ANNUAL REPORT 2023/24 Annual Report 年報 G-VISION INTERNATIONAL (HOLDINGS) LIMITED 環科國際集團有限公司 1 董事 鄭合輝（主席兼董事總經理） 鄭白明 鄭白敏 鄭白麗 羅道明 洪志遠 袁紹章 羅國泰（於2024年6月19日獲委任） DIRECTORS Independent Non-Executive Directors Law Toe Ming Hung Chi Yuen, Andrew Yuen Shiu Cheong, Johnny Law Kwok Tai (appointed on 19 June 2024) | --- | --- | |--------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------| | | | | ...

Financial Performance - Revenue for the year ended March 31, 2024, was HKD 49,549,000, representing an increase of 9.4% from HKD 45,181,000 in 2023[2] - Gross profit for the same period was HKD 35,742,000, up from HKD 31,481,000, indicating a growth of 13.5%[2] - Operating loss decreased significantly to HKD 5,731,000 from HKD 20,955,000, showing an improvement of 72.7%[2] - The company reported a loss before tax of HKD 6,232,000, compared to a loss of HKD 21,586,000 in the previous year, marking a reduction of 71.1%[2] - Total comprehensive loss attributable to shareholders for the year was HKD 6,292,000, down from HKD 21,812,000, reflecting a decrease of 71.2%[3] - Basic and diluted loss per share improved to HKD 0.32 from HKD 1.11, indicating a significant reduction in losses per share[3] - The group reported a decrease in total financial expenses from HKD 631,000 in 2023 to HKD 501,000 in 2024[22] - The net loss for the group was approximately HKD 6,200,000, a significant reduction of about HKD 15,400,000 from the net loss of HKD 21,600,000 in the previous year[36] Assets and Liabilities - Non-current assets increased to HKD 3,185,000 from HKD 2,190,000, representing a growth of 45.3%[5] - Current assets rose to HKD 46,610,000, up from HKD 29,313,000, an increase of 59.0%[5] - The company's total liabilities increased to HKD 38,653,000 from HKD 10,961,000, reflecting a significant rise of 252.5%[5] - The equity attributable to shareholders decreased to HKD 6,273,000 from HKD 12,565,000, a decline of 50.0%[5] Revenue Sources - The group reported revenue from operating Chinese restaurants of HKD 49,549,000 for 2024, an increase of 9.3% from HKD 45,181,000 in 2023[14] - Other income decreased to HKD 1,845,000 in 2024 from HKD 3,899,000 in 2023, primarily due to a reduction in government subsidies[16] - The group has approximately HKD 252,258,000 in unused tax losses available to offset future profits as of the reporting date[25] - The group’s receivables from restaurant operations increased to HKD 510,000 in 2024 from HKD 180,000 in 2023[27] Employee and Operational Costs - Employee costs totaled approximately HKD 23,400,000, an increase of about HKD 900,000 from HKD 22,500,000 in the previous year[39] - Other operating expenses rose to approximately HKD 13,700,000, compared to HKD 12,800,000 in the previous year, an increase of about HKD 900,000[43] - The group has approximately 90 employees as of March 31, 2024, with total employee costs reaching approximately HKD 23.4 million, up from HKD 22.5 million in 2023[54] Future Outlook and Strategic Decisions - The group expects the renovation of the Tsim Sha Tsui branch to generate additional revenue, despite challenges from rising food and service costs and labor shortages[50] - The group is actively seeking suitable investment opportunities to diversify its business and improve its operational status[50] Corporate Governance and Compliance - The company has adopted the corporate governance code as per the listing rules, with some exceptions regarding the separation of roles between the chairman and CEO[59] - The audit committee has reviewed the financial reports, including the consolidated accounts for the year ending March 31, 2024[60] - All directors confirmed compliance with the standard code for securities trading during the year ending March 31, 2024[61] Shareholder Information - The board has decided not to declare any final dividend for the year ending March 31, 2024, consistent with the previous year[55] - The company will suspend shareholder registration from August 13 to August 16, 2024, to determine eligibility for the upcoming annual general meeting[56] - There were no purchases, sales, or redemptions of the company's shares during the year[57] Financial Reporting - The final results announcement will be published on the company's website and the Hong Kong Stock Exchange website[63] - The company expresses gratitude to the management and employees for their efforts and contributions during the year[64]

Financial Performance - Revenue for the six months ended September 30, 2023, was HKD 24,422,000, representing a 18.5% increase from HKD 20,623,000 in the same period of 2022[7] - Gross profit increased to HKD 17,679,000, up 26.3% from HKD 13,999,000 year-on-year[7] - Operating loss narrowed to HKD 3,366,000 compared to a loss of HKD 5,172,000 in the previous year, indicating improved operational efficiency[7] - Loss attributable to shareholders for the period was HKD 3,634,000, a reduction of 34.4% from HKD 5,533,000 in the prior year[7] - Total comprehensive loss for the period was HKD 3,781,000, down from HKD 5,832,000 in the same period last year[8] - Basic and diluted loss per share improved to HKD 0.19 from HKD 0.28 year-on-year[8] - The group reported a net loss of approximately HKD 3,600,000, an improvement from a net loss of HKD 5,500,000 in the previous year[48] Assets and Liabilities - Non-current assets decreased to HKD 2,121,000 from HKD 2,190,000 as of March 31, 2023[9] - Current assets decreased to HKD 23,869,000 from HKD 29,313,000, primarily due to a reduction in cash and bank balances[9] - Total liabilities decreased to HKD 10,739,000 from HKD 10,961,000, reflecting improved financial management[10] - The company's equity decreased to HKD 8,784,000 from HKD 12,565,000, indicating a decline in net asset value[10] - The company’s cash and cash equivalents at the end of the period were HKD 18,861,000, down from HKD 28,299,000 at the end of the previous year[13] Cash Flow - The net cash used in operating activities for the six months ended September 30, 2023, was HKD (4,647,000), compared to HKD (2,324,000) for the same period in 2022, indicating a significant increase in cash outflow[13] - Cash and cash equivalents decreased by HKD 5,653,000 during the six months ended September 30, 2023, compared to a decrease of HKD 3,295,000 in the prior year[13] Revenue Sources - The restaurant business in Hong Kong generated revenue of approximately HKD 24,400,000, an increase of about HKD 3,800,000 compared to the previous year[56] - The group recognized rental income of HKD 2,160,000 from Hongli Development Limited during the interim period, an increase from HKD 1,560,000 in the same period of 2022, representing a growth of 38.5%[41] Expenses - Employee costs totaled approximately HKD 11,500,000, an increase of about HKD 900,000 due to labor shortages in the catering industry[51] - The company reported a sales cost of HKD 6,743,000 for the six months ended September 30, 2023, slightly up from HKD 6,624,000 in the same period last year[28] - Depreciation expenses for property, plant, and equipment were HKD 98,000 for the six months ended September 30, 2023, down from HKD 1,780,000 in the previous year[28] - The group's other income and losses amounted to approximately HKD 400,000, significantly lower than the previous year's HKD 1,400,000, mainly due to the absence of government subsidies received last year[50] Shareholder Information - Major shareholders include Golden Toy with 172,869,780 shares (8.88%) and Kong Fai with 1,277,168,061 shares (65.62%), collectively holding 74.50% of the issued share capital[72] - The total number of shares held by directors and major executives includes 1,450,037,841 shares held in trust, representing 74.50% of the issued share capital[70] - No additional interests or short positions in the company's shares were reported by directors or major executives as of September 30, 2023[71] Stock Options - As of September 30, 2023, the company has not granted any stock options under the 2020 plan, with 194,631,410 stock options available for grant, representing 10% of the issued shares[69] - The company has 26,000,000 unexercised stock options under the 2010 plan, accounting for approximately 1.3% of the issued shares as of September 30, 2023[69] - The estimated fair value of the stock options granted on October 23, 2017, was HKD 2,906,000, with 30% vesting immediately and the remaining 70% vesting over the next two years[69] - No share options were granted or exercised during the interim period, consistent with the previous period[39] Corporate Governance - The company has adopted the corporate governance code as per the Stock Exchange Listing Rules Appendix 14, ensuring compliance except for specific provisions regarding the separation of roles between the Chairman and CEO[76] - The Audit Committee consists of three independent non-executive directors, with the Chairman being Mr. Hong Zhi Yuan, overseeing internal controls and financial reporting matters for the six months ending September 30, 2023[77] - The Remuneration Committee has been established to recommend policies regarding the remuneration of directors and senior management, consisting of three independent non-executive directors[78] - The Nomination Committee, chaired by Mr. Zheng He Hui, reviews the board's structure and diversity at least annually, aligning with the company's business needs and future development[79] - All directors confirmed compliance with the standards for securities trading as per the Listing Rules Appendix 10 for the six months ending September 30, 2023[80] Dividend Policy - The company did not recommend the distribution of an interim dividend for the period ended September 30, 2023, consistent with the previous year[28] - The board has decided not to declare any interim dividend for the six months ended September 30, 2023[63] Market Outlook - The outlook for the restaurant business remains challenging due to high interest rates, tightening financing conditions, and labor shortages[65]

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，概不對因本公告全部或任 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。 G-VISION INTERNATIONAL (HOLDINGS) LIMITED 環 科 國 際 集 團 有 限 公 司 * （於百慕達註冊成立之有限公司） （股份代號：657） 截至2023年9月30日止六個月之 中期業績公佈 環科國際集團有限公司（「本公司」）之董事會（「董事會」）宣佈本公司及其附屬公司 （「本集團」）截至2023年9月30日止六個月之未經審核簡明綜合中期業績連同比較 業績。此簡明綜合中期業績並未經審核，惟已經本公司審核委員會審閱。 簡明綜合損益及其他全面收益表 截至2023年9月30日止六個月 截至9月30日止六個月 2023年 2022年 千港元 千港元 附註 （未經審核） （未經審核） 收入 4 24,422 20,623 銷售成本 (6,743) (6,624) 毛利 17,679 13,999 其他收入及其他收益及虧損 415 1,374 ...

Financial Performance - The Group reported an audited consolidated loss attributable to shareholders of approximately HK$21.6 million for the year ended March 31, 2023, compared to a loss of approximately HK$14.1 million in 2022, resulting in a loss per share of HK$1.11 cents[11][16]. - Consolidated revenue for the year was approximately HK$45.2 million, representing a decrease of approximately HK$69.4 million or 60.6% from last year's revenue of approximately HK$114.6 million[13][18]. - The Group recorded a net loss of approximately HK$21.6 million for the year, compared to a net loss of approximately HK$14.1 million in the previous year, primarily due to increased non-cash impairment losses[45]. - Gross profit decreased by approximately HK$4.0 million from HK$35.5 million in 2022 to approximately HK$31.5 million in 2023, with no gross profit recognized from the property development segment[46]. - Other income and gains for the year amounted to approximately HK$3.4 million, including a subsidy of HK$2.3 million from the Hong Kong government[49]. Revenue Breakdown - Revenue from the restaurant operations in Hong Kong amounted to approximately HK$45.2 million, an increase of approximately HK$4.6 million or 11.3% from the previous year's revenue of approximately HK$40.6 million[14][19]. - The turnover for the first half of the year was approximately HK$20.6 million, a decrease of approximately 30.8% or HK$9.2 million compared to the last corresponding period, primarily due to changes in operating floor area[20]. - The second half of the year saw a turnover of approximately HK$24.6 million, a significant increase of approximately HK$13.8 million compared to the last corresponding period's turnover of approximately HK$10.8 million[23][25]. - Overall turnover for the Group's restaurant operations for the year under review was 25% below the target revenue[89]. Operational Challenges - The restaurant operations were significantly impacted by the fifth wave of the COVID-19 pandemic, leading to a record low revenue of approximately HK$2.6 million in the first quarter of 2022[25]. - The Group's financial results were adversely affected by the COVID-19 pandemic, with operational suspensions in multiple branches during the fifth wave of outbreaks[69]. - The operating environment for the restaurant business remains challenging despite the stabilization of the COVID-19 pandemic[106]. Impairments and Asset Management - The Group decided to recognize non-cash impairments of approximately HK$7.5 million and HK$4.6 million on the right-of-use assets and property, plant, and equipment, respectively, due to uncertainties regarding the outlook and cash flows for the Kwun Tong City Chiu Chow Restaurant[24][27]. - Non-cash impairment losses on right-of-use assets and property, plant, and equipment were recognized at approximately HK$7.5 million and HK$4.6 million respectively, compared to HK$3.1 million and HK$1.9 million in the previous year[60]. - The closure of Hover City Chiu Chow Restaurant resulted in an additional loss of approximately HK$2.0 million due to the write-off of property, plant, and equipment[61]. Employee Costs and Management - Employee costs totaled approximately HK$22.5 million, an increase of approximately HK$3.3 million from HK$19.2 million in the previous year, driven by labor shortages in the restaurant industry[50]. - Total staff costs increased by approximately HK$3.3 million to approximately HK$22.5 million, reflecting higher pay to retain staff amid labor shortages[53]. - Employee remuneration packages are reviewed annually, ensuring competitive salary and benefits, including medical coverage and a provident fund scheme[101]. Strategic Direction - The Group plans to adopt a more cautious approach in committing further capital expenditure due to the challenging operating environment[35]. - The Group will continue to review and revise its business strategies to better position itself for future challenges and investment opportunities[39]. - The Group aims to enhance shareholder value through business diversification and identifying new business opportunities[105]. - The Group will adopt a cautious approach towards future expansion and capital expenditure while seeking investment opportunities in property development in Hong Kong and Australia[106]. Corporate Governance - The Board consists of four executive Directors and three independent non-executive Directors, ensuring a mix of competencies in accounting, finance, and business management[118]. - The Company has complied with Listing Rules by maintaining at least one-third of the Board as independent non-executive Directors since December 1, 2012[129]. - The Board recognizes its overall responsibility for the establishment, maintenance, and review of risk management and internal control systems, providing reasonable assurance on the reliability and integrity of financial and operational information[144]. - The Company has adopted guidelines for handling inside information, ensuring confidentiality and limiting access to authorized personnel only[149]. Shareholder Communication - The Company has established multiple channels for shareholder communication, including annual reports, interim reports, and corporate information on its website[187]. - The Company encourages direct communication between shareholders and the Board, providing contact details for inquiries[188]. - The Board considers the Company's communication with shareholders to be effective during the year under review[196].

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告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 G-VISION INTERNATIONAL (HOLDINGS) LIMITED 環 科 國 際 集 團 有 限 公 司 * （於百慕達註冊成立之有限公司） （股份代號：657） 截至2023年3月31日止年度之業績公佈 環科國際集團有限公司（「本公司」）之董事（「董事」）會（「董事會」）宣佈，本公司及 其附屬公司（「本集團」）截至2023年3月31日止年度之經審核綜合業績，連同截至 2022年3月31日止年度之比較數字如下： 綜合損益及其他全面收益表 截至2023年3月31日止年度 2023年 2022年 附註 千港元 千港元 收入 3 45,181 114,637 銷售成本 (13,700) (79,129) 毛利 31,481 35,508 其他收入及其他收益及虧損 4 3,354 2,033 員工成本 (22,458) (19,186) 短期租約租金 (4,846) (6,230) ...