Core Viewpoint - FUTURE BRIGHT (00703) reported a significant increase in net profit and revenue for the six months ending June 30, 2025, indicating strong financial performance and growth potential [1] Financial Performance - The company's revenue reached HKD 231 million, representing a year-on-year growth of 3% [1] - Shareholders' profit attributable to the company was HKD 8.636 million, showing a remarkable year-on-year increase of 1511.2% [1] - Earnings per share stood at HKD 0.0124 [1]

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) The company reported a **3.0%** revenue increase and a **1,511.2%** surge in profit attributable to owners, with net assets growing by **3.1%** Financial Highlights for the Six Months Ended June 30, 2025 | Item | 2025 (HK$ thousands) | 2024 (HK$ thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 230,961 | 224,135 | +3.0% | | Gross Profit | 176,558 | 169,112 | +4.4% | | Operating Gross Profit | 56,330 | 49,736 | +13.3% | | EBITDA | 49,914 | 44,884 | +11.2% | | Profit Attributable to Owners of the Company | 8,636 | 536 | +1,511.2% | | Net Ordinary Operating Profit | 12,156 | 536 | +2,167.9% | | Basic Earnings Per Share (HK cents) | 1.24 | 0.08 | +1,450.0% | Balance Sheet Summary (As at Period End) | Item | June 30, 2025 (HK$ thousands) | December 31, 2024 (HK$ thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 947,994 | 958,622 | –1.1% | | Net Assets | 360,695 | 349,892 | +3.1% | | Net Assets Per Share (HK$) | 0.520 | 0.504 | +3.1% | | Gearing Ratio | 154.3% | 164.6% | –10.3% | | Total Assets/Total Liabilities Ratio | 1.61 | 1.57 | +2.5% | [Interim Results](index=2&type=section&id=Interim%20Results) This section presents the condensed consolidated financial statements, including the statement of comprehensive income and statement of financial position [Condensed Consolidated Statement of Comprehensive Income](index=2&type=section&id=Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) Revenue grew by **3.0%** to **HK$230,961 thousand**, and profit attributable to owners surged by **1,511.2%** to **HK$8,636 thousand**, primarily due to lower finance costs Condensed Consolidated Statement of Comprehensive Income (For the Six Months Ended June 30) | Item | 2025 (HK$ thousands) | 2024 (HK$ thousands) | | :--- | :--- | :--- | | Revenue | 230,961 | 224,135 | | Cost of Sales | (54,403) | (55,023) | | Gross Profit | 176,558 | 169,112 | | Direct Operating Expenses | (120,228) | (119,376) | | Operating Gross Profit | 56,330 | 49,736 | | Other Income | 2,915 | 3,408 | | Other Gains and Losses | (3,015) | (3,869) | | Administrative Expenses | (35,715) | (35,367) | | Finance Costs | (8,780) | (11,265) | | Profit Before Income Tax | 11,735 | 2,643 | | Income Tax Expense | (654) | (258) | | Profit for the Period | 11,081 | 2,385 | | Total Comprehensive Income for the Period | 10,803 | 2,639 | | Profit Attributable to Owners of the Company | 8,636 | 536 | | Profit Attributable to Non-controlling Interests | 2,445 | 1,849 | | Basic Earnings Per Share (HK cents) | 1.24 | 0.08 | [Condensed Consolidated Statement of Financial Position](index=3&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, total assets slightly decreased by **1.1%**, while net assets increased by **3.1%**, and net current liabilities improved significantly Condensed Consolidated Statement of Financial Position (As at Period End) | Item | June 30, 2025 (HK$ thousands) | December 31, 2024 (HK$ thousands) | | :--- | :--- | :--- | | **Non-current Assets** | | | | Property, Plant and Equipment | 159,311 | 157,972 | | Right-of-use Assets | 83,697 | 77,721 | | Investment Properties | 550,000 | 546,000 | | Goodwill | 48,000 | 48,000 | | Other Intangible Assets | 15,405 | 15,111 | | Prepayments and Deposits | 10,428 | 13,185 | | **Total Non-current Assets** | **866,841** | **857,989** | | **Current Assets** | | | | Inventories | 21,779 | 24,916 | | Trade and Other Receivables | 34,453 | 31,726 | | Financial Assets at Fair Value Through Profit or Loss | 6 | 7 | | Restricted Bank Deposits | 2,744 | 2,744 | | Cash and Cash Equivalents | 32,799 | 30,612 | | **Total Current Assets** | **91,781** | **90,005** | | **Total Assets** | **958,622** | **947,994** | | **Current Liabilities** | | | | Trade and Other Payables | 76,239 | 68,072 | | Amounts Due to Related Parties | 69,023 | 81,090 | | Lease Liabilities | 35,642 | 34,901 | | Current Tax Liabilities | 4,580 | 5,659 | | Interest-bearing Borrowings | 150,172 | 45,622 | | Non-interest-bearing Borrowings | 1,388 | 1,388 | | **Total Current Liabilities** | **337,044** | **236,732** | | **Net Current Liabilities** | **(245,263)** | **(146,727)** | | **Non-current Liabilities** | | | | Lease Liabilities | 52,848 | 48,476 | | Interest-bearing Borrowings | 179,068 | 262,801 | | Deferred Tax Liabilities | 34,341 | 33,861 | | Non-interest-bearing Borrowings | 5,429 | 5,429 | | **Total Non-current Liabilities** | **271,686** | **350,567** | | **Total Liabilities** | **608,730** | **587,299** | | **Net Assets** | **349,892** | **360,695** | | **Total Equity** | **349,892** | **360,695** | [Notes to the Condensed Consolidated Interim Financial Statements](index=5&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Interim%20Financial%20Statements) This section provides detailed explanations and disclosures regarding the accounting policies, judgments, and specific financial statement line items [1. General Information](index=5&type=section&id=1.%20General%20Information) Future Bright Group Limited is a Bermuda-incorporated listed company primarily engaged in food and catering sales, food souvenir sales, and property investment - The company is a Bermuda-incorporated listed company with shares listed on the Hong Kong Stock Exchange[6](index=6&type=chunk) - The Group is principally engaged in food and catering sales, food souvenir sales, and property investment businesses[6](index=6&type=chunk) [2. Basis of Preparation](index=5&type=section&id=2.%20Basis%20of%20Preparation) The interim financial statements are prepared under HKAS 34 and Listing Rules, applying consistent accounting policies, with the Board affirming going concern despite net current liabilities - The condensed consolidated interim financial statements are prepared in accordance with HKAS 34 and the applicable disclosure requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited[7](index=7&type=chunk) - The Group recorded a profit of approximately **HK$11,081,000** for the reporting period, but current liabilities exceeded current assets by approximately **HK$146,727,000**[9](index=9&type=chunk) - The Board has considered several measures, including unutilized bank and credit facilities (approximately **HK$22,700,000**), related parties' commitment not to demand immediate settlement of outstanding amounts (approximately **HK$81,100,000**), and the realization of investment properties and land and buildings if necessary to repay loans and strengthen liquidity, concluding that the Group can continue as a going concern[9](index=9&type=chunk)[10](index=10&type=chunk) [3. Adoption of Hong Kong Financial Reporting Standards](index=6&type=section&id=3.%20Adoption%20of%20Hong%20Kong%20Financial%20Reporting%20Standards) The Group has adopted amendments to HKFRSs effective for the current accounting period, which have no significant impact on the condensed consolidated interim financial statements - The Hong Kong Institute of Certified Public Accountants has issued amendments to HKFRSs effective for the Group's current accounting period, including HKAS 21 (Amendment) "Lack of Exchangeability"[12](index=12&type=chunk) - These amendments have no significant impact on the Group's condensed consolidated interim financial statements[12](index=12&type=chunk) [4. Use of Judgments and Estimates](index=6&type=section&id=4.%20Use%20of%20Judgments%20and%20Estimates) The significant judgments and key sources of estimation uncertainty made by management in preparing the condensed consolidated interim financial statements are consistent with those applied in the 2024 annual financial statements - The significant judgments made by management in applying the Group's accounting policies and the key sources of estimation uncertainty were the same as those applied to the 2024 annual financial statements[14](index=14&type=chunk) [5. Segment Reporting](index=6&type=section&id=5.%20Segment%20Reporting) The Group operates three segments: food and catering, food souvenirs, and property investment, with food and catering as the main revenue source and Macau as the primary geographical contributor [5.(a) Business Segments](index=6&type=section&id=5.(a)%20Business%20Segments) - The Group has three reportable segments: food and catering (sales in Macau and Hong Kong), food souvenirs (sales of food souvenirs, including festive food), and property investment (leasing of properties)[15](index=15&type=chunk) Reportable Segment Revenue and Results (For the Six Months Ended June 30) | Segment | 2025 Revenue (HK$ thousands) | 2024 Revenue (HK$ thousands) | 2025 Results (HK$ thousands) | 2024 Results (HK$ thousands) | | :--- | :--- | :--- | :--- | :--- | | Food and Catering | 174,483 | 175,055 | 6,958 | (3,643) | | Food Souvenirs | 46,433 | 39,035 | 8,011 | 4,960 | | Property Investment | 10,045 | 10,045 | 1,033 | 4,058 | | **Consolidated** | **230,961** | **224,135** | **16,002** | **5,375** | Reportable Segment Assets and Liabilities (As at Period End) | Segment | June 30, 2025 Assets (HK$ thousands) | December 31, 2024 Assets (HK$ thousands) | June 30, 2025 Liabilities (HK$ thousands) | December 31, 2024 Liabilities (HK$ thousands) | | :--- | :--- | :--- | :--- | :--- | | Food and Catering | 321,326 | 323,283 | 299,359 | 297,025 | | Food Souvenirs | 63,200 | 66,211 | 32,885 | 40,579 | | Property Investment | 563,014 | 568,467 | 253,660 | 268,908 | | **Consolidated** | **947,540** | **957,961** | **585,904** | **606,512** | [5.(b) Reconciliation of Reportable Segment Revenue, Profit or Loss, Assets and Liabilities](index=11&type=section&id=5.(b)%20Reconciliation%20of%20Reportable%20Segment%20Revenue%2C%20Profit%20or%20Loss%2C%20Assets%20and%20Liabilities) Reconciliation of Consolidated Revenue (For the Six Months Ended June 30) | Item | 2025 (HK$ thousands) | 2024 (HK$ thousands) | | :--- | :--- | :--- | | Reportable segment revenue | 233,876 | 227,543 | | Less: Other income | (2,915) | (3,408) | | **Consolidated revenue** | **230,961** | **224,135** | Reconciliation of Consolidated Profit Before Income Tax (For the Six Months Ended June 30) | Item | 2025 (HK$ thousands) | 2024 (HK$ thousands) | | :--- | :--- | :--- | | Reportable segment profit | 16,002 | 5,375 | | Other income and other gains and losses | 2 | – | | Corporate staff costs | (2,970) | (1,970) | | Unallocated expenses | (1,299) | (762) | | **Consolidated profit before income tax** | **11,735** | **2,643** | Reconciliation of Total Consolidated Assets and Liabilities (As at Period End) | Item | June 30, 2025 (HK$ thousands) | December 31, 2024 (HK$ thousands) | | :--- | :--- | :--- | | Reportable segment assets | 947,540 | 957,961 | | Financial assets at fair value through profit or loss | 7 | 6 | | Unallocated corporate assets | 447 | 655 | | **Total consolidated assets** | **947,994** | **958,622** | | Reportable segment liabilities | 585,904 | 606,512 | | Unallocated corporate liabilities | 1,395 | 2,218 | | **Total consolidated liabilities** | **587,299** | **608,730** | [5.(c) Geographical Information](index=12&type=section&id=5.(c)%20Geographical%20Information) Revenue from External Customers (By Geographical Location) | Region | For the Six Months Ended June 30, 2025 (HK$ thousands) | For the Six Months Ended June 30, 2024 (HK$ thousands) | | :--- | :--- | :--- | | Macau | 176,405 | 169,279 | | Hong Kong | 54,556 | 54,856 | | **Total** | **230,961** | **224,135** | Non-current Assets (Excluding Financial Assets, By Geographical Location) | Region | June 30, 2025 (HK$ thousands) | December 31, 2024 (HK$ thousands) | | :--- | :--- | :--- | | Macau | 830,475 | 843,359 | | Hong Kong | 14,329 | 13,054 | | **Total** | **844,804** | **856,413** | [6. Revenue](index=12&type=section&id=6.%20Revenue) The Group's revenue primarily derives from food and catering sales, food souvenir sales, and investment property rental income, with customer contract revenue recognized at a point in time Revenue by Major Categories (For the Six Months Ended June 30) | Source of Revenue | 2025 (HK$ thousands) | 2024 (HK$ thousands) | | :--- | :--- | :--- | | Sales of food and catering | 174,483 | 175,055 | | Sales of food souvenirs | 46,433 | 39,035 | | **Total revenue from contracts with customers** | **220,916** | **214,090** | | Rental income from investment properties | 10,045 | 10,045 | | **Total revenue** | **230,961** | **224,135** | - In accordance with HKFRS 15, revenue from contracts with customers is recognized at a point in time[31](index=31&type=chunk) [7. Profit Before Income Tax](index=13&type=section&id=7.%20Profit%20Before%20Income%20Tax) Profit before income tax is influenced by various expenses and income, including cost of inventories, staff costs, depreciation, amortization, and fair value loss on investment properties Profit Before Income Tax is Stated After Charging/(Crediting) (For the Six Months Ended June 30) | Item | 2025 (HK$ thousands) | 2024 (HK$ thousands) | | :--- | :--- | :--- | | Cost of inventories recognized as an expense | 53,731 | 54,393 | | Direct operating expenses from investment properties recognized in the period | 672 | 630 | | Cost of sales | 54,403 | 55,023 | | Staff costs | 73,024 | 71,103 | | Depreciation of property, plant and equipment | 9,247 | 9,751 | | Depreciation of right-of-use assets | 19,858 | 20,987 | | Contingent rental expenses | 17,147 | 14,257 | | Amortization of other intangible assets | 294 | 238 | | Auditors' remuneration | 190 | – | | Interest income | (14) | (209) | | Fair value loss on investment properties | 4,000 | – | | Loss on write-off of property, plant and equipment | – | 2,212 | [8. Finance Costs](index=13&type=section&id=8.%20Finance%20Costs) The Group's finance costs primarily comprise interest on interest-bearing borrowings and estimated interest expense on lease liabilities, with a decrease in the current period compared to the prior period Finance Costs (For the Six Months Ended June 30) | Item | 2025 (HK$ thousands) | 2024 (HK$ thousands) | | :--- | :--- | :--- | | Interest on interest-bearing borrowings repayable within five years | 5,992 | 7,965 | | Estimated interest expense on lease liabilities | 2,788 | 3,300 | | **Total** | **8,780** | **11,265** | [9. Income Tax Expense](index=14&type=section&id=9.%20Income%20Tax%20Expense) Income tax expense includes Macau Complementary Tax, Hong Kong Profits Tax, and deferred tax credit, with Hong Kong Profits Tax applying a two-tiered tax rate system Income Tax Expense (For the Six Months Ended June 30) | Item | 2025 (HK$ thousands) | 2024 (HK$ thousands) | | :--- | :--- | :--- | | Current tax: Macau Complementary Tax | 191 | 258 | | Current tax: Hong Kong Profits Tax | 943 | – | | Deferred tax: Credit for the period | (480) | – | | **Income tax expense** | **654** | **258** | - Macau Complementary Tax is calculated at progressive rates, with a maximum rate of **12%**[34](index=34&type=chunk) - Hong Kong Profits Tax is provided at a rate of **16.5%**, with qualifying entities subject to an **8.25%** tax rate on the first **HK$2,000,000** of assessable profits under the two-tiered tax rate regime[35](index=35&type=chunk) [10. Dividends](index=15&type=section&id=10.%20Dividends) The Board has resolved not to declare any interim dividend for the six months ended June 30, 2025 and 2024 - The Directors resolved not to declare any interim dividend for the six months ended June 30, 2025 and 2024[36](index=36&type=chunk) [11. Earnings Per Share](index=15&type=section&id=11.%20Earnings%20Per%20Share) Basic earnings per share significantly increased to **1.24 HK cents** from **0.08 HK cents**, with diluted earnings per share being identical due to no potential dilutive ordinary shares Basic Earnings Per Share (For the Six Months Ended June 30) | Item | 2025 (HK$ thousands/Number of shares) | 2024 (HK$ thousands/Number of shares) | | :--- | :--- | :--- | | Profit for the period attributable to owners of the Company | 8,636 | 536 | | Weighted average number of ordinary shares for the purpose of basic earnings per share | 694,302,420 | 694,302,420 | | **Basic earnings per share (HK cents)** | **1.24** | **0.08** | - As there were no potential dilutive ordinary shares in issue for the six months ended June 30, 2025 and 2024, the amount of diluted earnings per share is the same as basic earnings per share[38](index=38&type=chunk) [12. Deposits, Trade and Other Receivables](index=16&type=section&id=12.%20Deposits%2C%20Trade%20and%20Other%20Receivables) Trade receivables, mainly operator-collected revenue with a 30-day credit period, totaled **HK$20,814 thousand** as of June 30, 2025, with most due within 90 days - Trade receivables primarily represent revenue collected by operators on behalf of the Group at the locations of the Group's restaurants, with a credit period of **30 days** from the date of sale[39](index=39&type=chunk) Deposits, Trade and Other Receivables (As at Period End) | Item | June 30, 2025 (HK$ thousands) | December 31, 2024 (HK$ thousands) | | :--- | :--- | :--- | | **Current portion** | | | | Trade receivables | 20,814 | 24,055 | | Prepayments and deposits | 7,478 | 6,744 | | Other receivables | 3,434 | 3,654 | | **Total** | **31,726** | **34,453** | | **Non-current portion** | | | | Prepayments and deposits | 13,185 | 10,428 | Ageing Analysis of Trade Receivables (As at Period End) | Ageing | June 30, 2025 (HK$ thousands) | December 31, 2024 (HK$ thousands) | | :--- | :--- | :--- | | 0 to 90 days | 20,801 | 24,037 | | 91 to 365 days | 13 | 18 | | **Total** | **20,814** | **24,055** | [13. Trade and Other Payables](index=17&type=section&id=13.%20Trade%20and%20Other%20Payables) As of June 30, 2025, total trade and other payables decreased to **HK$68,072 thousand**, with most trade payables due within 90 days Trade and Other Payables (As at Period End) | Item | June 30, 2025 (HK$ thousands) | December 31, 2024 (HK$ thousands) | | :--- | :--- | :--- | | Trade payables | 25,244 | 29,022 | | Accruals and provisions | 31,227 | 38,212 | | Construction payables and other payables | 11,601 | 9,005 | | **Total** | **68,072** | **76,239** | Ageing Analysis of Trade Payables (As at Period End) | Ageing | June 30, 2025 (HK$ thousands) | December 31, 2024 (HK$ thousands) | | :--- | :--- | :--- | | Within 90 days | 22,914 | 24,124 | | 91 to 180 days | 695 | 3,340 | | 181 to 365 days | 1,268 | 1,051 | | Over 365 days | 367 | 507 | | **Total** | **25,244** | **29,022** | [14. Events After the Reporting Period](index=17&type=section&id=14.%20Events%20After%20the%20Reporting%20Period) There were no significant events after the six months ended June 30, 2025 - There were no significant events after the six months ended June 30, 2025[44](index=44&type=chunk) [Management Discussion and Analysis](index=18&type=section&id=Management%20Discussion%20and%20Analysis) This section provides an overview of the Group's operational performance, financial position, and future outlook, highlighting key business segment results and financial management strategies [Interim Dividend](index=18&type=section&id=Interim%20Dividend) The Group does not recommend an interim dividend for the current period, consistent with no dividends declared or paid in the past two interim periods - The Group does not recommend an interim dividend for the current period (six months ended June 30, 2024: nil)[45](index=45&type=chunk) - No dividends were declared or paid during the past two interim periods[46](index=46&type=chunk) [Operations Review](index=18&type=section&id=Operations%20Review) Food and catering remains the primary revenue source despite a slight decline, while food souvenirs achieved significant growth, and property investment maintained stable rental income [Food and Catering Business](index=18&type=section&id=Food%20and%20Catering%20Business) Food and Catering Business Operating Financial Data (For the Six Months Ended June 30) | Item | 2025 (HK$ millions) | 2024 (HK$ millions) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 174.5 | 175.1 | –0.3% | | Cost of Sales | (43.5) | (44.3) | –1.8% | | Gross Profit | 131.0 | 130.8 | +0.2% | | Direct Operating Expenses | (95.3) | (98.5) | –3.2% | | Operating Gross Profit | 35.7 | 32.3 | +10.5% | | Operating Gross Profit Margin (%) | 20.4% | 18.5% | +1.9% | | Profit/(Loss) Attributable to Owners of the Company | 5.8 | (4.2) | N/A | - The food and catering business contributed approximately **HK$174,500,000** in revenue, accounting for about **75.5%** of the Group's total revenue, with the decrease primarily due to reduced revenue from Japanese and Chinese restaurants[48](index=48&type=chunk) - As of June 30, 2025, the Group operated **24 restaurants** (2024: 28), with a total area of **28,971 square feet** (2024: 34,656 square feet)[49](index=49&type=chunk) - Industrial catering business revenue decreased by approximately **3.3%** to **HK$8,900,000**, mainly due to reduced lunchbox services provided to schools[55](index=55&type=chunk) - Food wholesale business revenue increased by approximately **17.8%** to **HK$5,300,000**, primarily due to an overall increase in sales to customers[56](index=56&type=chunk) [Food Souvenir Business](index=21&type=section&id=Food%20Souvenir%20Business) Food Souvenir Business Operating Financial Data (For the Six Months Ended June 30) | Item | 2025 (HK$ millions) | 2024 (HK$ millions) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 46.4 | 39.0 | +19.0% | | Cost of Sales | (10.3) | (10.1) | +2.0% | | Gross Profit | 36.1 | 28.9 | +24.9% | | Direct Operating Expenses | (24.9) | (20.9) | +19.1% | | Operating Gross Profit | 11.2 | 8.0 | +40.0% | | Operating Gross Profit Margin (%) | 24.1% | 20.5% | +3.6% | | Profit Attributable to Owners of the Company | 5.6 | 3.4 | +64.7% | - Food souvenir business revenue increased by approximately **19.0%** to **HK$46,400,000**, representing about **20.1%** of the Group's total revenue, driven by increased retail sales, a rise in total visitor arrivals in Macau, and growth in corporate business[57](index=57&type=chunk) - As of June 30, 2025, the Group operated **7 Yeng Kee Bakery shops/kiosks** in Macau, with a total area of **5,501 square feet**[58](index=58&type=chunk) [Property Investment Business](index=22&type=section&id=Property%20Investment%20Business) - The property investment business recorded stable rental income of approximately **HK$10,000,000**, but profit attributable to owners was approximately **HK$1,400,000**, a decrease from **HK$4,000,000** in the prior period[59](index=59&type=chunk) - The principal investment properties were valued at **HK$546,000,000**, with a fair value loss of approximately **HK$4,000,000** recognized during the period[59](index=59&type=chunk) [Logistics Support](index=22&type=section&id=Logistics%20Support) - The Group operates a central food and logistics processing center in Macau and a central kitchen in Hong Kong to enhance operational efficiency[61](index=61&type=chunk) - The Group will continue to actively strengthen its logistics support for food procurement and processing facilities[61](index=61&type=chunk) [Liquidity and Financial Resources](index=22&type=section&id=Liquidity%20and%20Financial%20Resources) Net current liabilities improved to **HK$146,700,000**, and the gearing ratio decreased to **154.3%**, indicating an improved financial position - As of June 30, 2025, the Group's net current liabilities were approximately **HK$146,700,000** (December 31, 2024: HK$245,300,000)[62](index=62&type=chunk) - The Group had interest-bearing bank borrowings of approximately **HK$308,400,000** and refinanced two outstanding bank loans totaling approximately **HK$99,500,000**[63](index=63&type=chunk) Gearing Ratio (As at Period End) | Item | June 30, 2025 (%) | December 31, 2024 (%) | Change (%) | | :--- | :--- | :--- | :--- | | Gearing Ratio | 154.3 | 164.6 | –10.3% | - The decrease in the gearing ratio was primarily due to an increase in the Group's total equity[64](index=64&type=chunk) [Material Litigation](index=23&type=section&id=Material%20Litigation) As of June 30, 2025, the Group was not involved in any material litigation or arbitration - As of June 30, 2025, the Group was not involved in any material litigation or arbitration[65](index=65&type=chunk) [Contingent Liabilities](index=23&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the Group had no material contingent liabilities - As of June 30, 2025, the Group had no material contingent liabilities[66](index=66&type=chunk) [Currency Risk](index=23&type=section&id=Currency%20Risk) As of June 30, 2025, the Group had no outstanding hedging instruments and will continue to closely monitor foreign currency risk, implementing hedging arrangements when necessary - As of June 30, 2025, the Group had no outstanding hedging instruments[67](index=67&type=chunk) - The Group will continue to closely monitor its foreign currency risk and needs, making hedging arrangements when necessary[67](index=67&type=chunk) [Employees](index=23&type=section&id=Employees) As of June 30, 2025, the Group employed **651 full-time staff**, primarily in Macau and Hong Kong, with remuneration reviewed regularly and determined based on performance - As of June 30, 2025, the Group employed a total of **651 full-time staff** (June 30, 2024: 620)[68](index=68&type=chunk) - Employees are primarily located in Macau (**547**), Hong Kong (**97**), and Mainland China (**7**)[68](index=68&type=chunk) - Remuneration packages are reviewed with reference to market terms, individual qualifications, experience, duties, and responsibilities, with policies set by the Remuneration Committee and specific remuneration determined by management based on performance[68](index=68&type=chunk) [Events After Balance Sheet Date](index=24&type=section&id=Events%20After%20Balance%20Sheet%20Date) There were no significant events after the balance sheet date of June 30, 2025 - There were no significant events after June 30, 2025[69](index=69&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=24&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) During the period, neither the Company nor its subsidiaries purchased, sold, or redeemed any of the Company's listed securities - During the period, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[70](index=70&type=chunk) [Sufficiency of Public Float](index=24&type=section&id=Sufficiency%20of%20Public%20Float) For the six months ended June 30, 2025, the Company consistently maintained a sufficient public float - For the six months ended June 30, 2025, the Company consistently maintained a sufficient public float[71](index=71&type=chunk) [Audit Committee](index=24&type=section&id=Audit%20Committee) The Company's Audit Committee, comprising three independent non-executive directors, has reviewed the Group's condensed consolidated interim financial statements and interim results announcement for the period - The Company's Audit Committee comprises three independent non-executive directors: Mr. Wong Ho Piu (Chairman), Mr. Chik Kwong Fung, and Mr. Yu Kam Yuen[72](index=72&type=chunk) - The Audit Committee has reviewed the Group's condensed consolidated interim financial statements and interim results announcement for the period[72](index=72&type=chunk) [Corporate Governance](index=24&type=section&id=Corporate%20Governance) The Company complied with the Corporate Governance Code in Appendix C1 of the Listing Rules during the period, with all Directors confirming adherence to the Model Code - The Company complied with the Corporate Governance Code set out in Appendix C1 of the Listing Rules during the period[73](index=73&type=chunk) - All Directors confirmed their compliance with the Model Code and the standards set out in the Company's code of conduct for securities transactions by Directors[73](index=73&type=chunk) [Outlook](index=25&type=section&id=Outlook) The Group benefits from tourism recovery but faces challenges like economic slowdown, declining consumer spending, and high operating costs, requiring cautious expansion and strategic adjustments - The Group's businesses benefit from increased visitor arrivals and tourism recovery in Macau and Hong Kong, but still face challenges such as economic slowdown, declining consumer spending power, changing preferences, intensified competition, and high operating costs[74](index=74&type=chunk) - Management maintains a cautious approach to business expansion, will closely monitor market conditions, adjust business strategies, and enhance operational efficiency to provide higher quality food and services and improve brand competitiveness[74](index=74&type=chunk) [Publication of Results Announcement and Interim Report](index=25&type=section&id=Publication%20of%20Results%20Announcement%20and%20Interim%20Report) This announcement has been published on the HKEX and Company websites, and the interim report will be dispatched to shareholders and published on these websites in due course - This announcement has been published on the HKEX website (www.hkexnews.hk) and the Company's website (www.fb.com.hk)[75](index=75&type=chunk) - The Company's 2025 interim report will be dispatched to the Company's shareholders and published on the aforementioned websites in due course[75](index=75&type=chunk) [Definitions](index=25&type=section&id=Definitions) This section provides key terms and their definitions used in this announcement to ensure a clear understanding of the report content - This section provides key terms and their definitions used in this announcement to ensure a clear understanding of the report content[76](index=76&type=chunk)[77](index=77&type=chunk) [Board of Directors](index=27&type=section&id=Board%20of%20Directors) As of the announcement date, the Board of Directors includes the Managing Director, Chairman, an Executive Director, and three Independent Non-executive Directors - As of the date of this announcement, the Company's Board of Directors comprises Managing Director Mr. Chan Chak Mo, Chairman and Executive Director Mr. Chan Sze Kit, Executive Director Ms. Leong Yin Ian, and Independent Non-executive Directors Mr. Yu Kam Yuen, Mr. Chik Kwong Fung, and Mr. Wong Ho Piu[78](index=78&type=chunk)

Core Viewpoint - Future Bright (00703.HK) will hold a board meeting on August 29, 2025, to consider and approve the interim results for the six months ending June 30, 2025, and to discuss the potential distribution of an interim dividend, among other matters [1] Group 1 - The board meeting is scheduled for August 29, 2025, at 3:30 PM [1] - The meeting will take place at the 17th floor, Suite 1702-3, West Tower, Shun Tak Centre, 168-200 Connaught Road, Hong Kong [1] - The agenda includes the approval of interim results and consideration of an interim dividend [1]

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，並明確表示概不就因本公佈全部或 其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。 Future Bright Holdings Limited 佳景集團有限公司 * (於百慕達註冊成立之有限公司) (股份編號: 703) 董事會會議通告 佳景集團有限公司 (「本公司」) 之董事會 (「董事會」) 欣然宣佈，本公司將 於二零二五年八月二十九日 (星期五) 下午三時三十分假座香港干諾道中 168-200號信德中心西座17樓1702-3室舉行董事會會議，藉以 (其中包括) 考慮及 批准本公司及其附屬公司截至二零二五年六月三十日止六個月之中期業績及其 發佈、考慮派發中期股息 (如有)、以及處理任何其他事項。 承董事會命 公司秘書 梁漢輝 香港, 二零二五年八月十八日 於本公佈日期，本公司董事會成員包括 (i) 董事總經理陳澤武先生；(ii) 主席兼 執行董事陳思杰先生；(iii) 執行董事梁衍茵女士；及(iv) 獨立非執行董事余錦遠 先生、黃浩彪先生及戚廣峰先生。 *僅供識別 ...

Core Viewpoint - FUTURE BRIGHT (00703.HK) reported a significant increase in profit for the first half of 2025 compared to the same period in 2024, indicating strong financial performance and growth potential [1] Financial Performance - In Q1 2025, the company recorded an unaudited profit attributable to shareholders of approximately HKD 9.1 million, while in Q2 2025, it reported an unaudited loss of about HKD 0.5 million [1] - For Q1 2024, the company had an unaudited profit of approximately HKD 8.7 million, and in Q2 2024, it faced an unaudited loss of about HKD 8.2 million [1] - The total unaudited profit attributable to shareholders for the first half of 2025 was approximately HKD 8.6 million, compared to HKD 0.5 million in the same period of 2024, representing a year-on-year growth of approximately 1,620.0% [1]

Group 1 - The company reported an unaudited profit attributable to owners of approximately HKD 9.1 million for the first quarter of 2025 and an unaudited loss of approximately HKD 0.5 million for the second quarter of 2025 [1] - In comparison, the company achieved an unaudited profit attributable to owners of approximately HKD 8.7 million for the first quarter of 2024 and an unaudited loss of approximately HKD 8.2 million for the second quarter of 2024 [1] - For the six months ending June 30, 2025, the company recorded an unaudited profit attributable to owners of approximately HKD 8.6 million, representing a significant increase of approximately 1620.0% compared to an unaudited profit of approximately HKD 0.5 million for the same period in 2024 [1]

Core Viewpoint - FUTURE BRIGHT (00703) reported a significant increase in profit for the first half of 2025 compared to the same period in 2024, indicating a positive financial trend for the company [1] Financial Performance Summary - In the first quarter of 2025, the company achieved an unaudited profit attributable to owners of approximately HKD 9.1 million, compared to an unaudited profit of approximately HKD 8.7 million in the first quarter of 2024, reflecting a year-on-year increase [1] - For the second quarter of 2025, the company recorded an unaudited loss attributable to owners of approximately HKD 0.5 million, while in the second quarter of 2024, the loss was approximately HKD 8.2 million, showing an improvement in performance [1] - For the six months ending June 30, 2025, the company reported an unaudited profit attributable to owners of approximately HKD 8.6 million, a significant increase of approximately 1620.0% compared to an unaudited profit of approximately HKD 0.5 million in the same period of 2024 [1]

佳景集團有限公司* （於 百 慕 達 註 冊 成 立 之 有 限 公 司） （股 份 編 號：703） 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 就 因 本 公 佈 全部或其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。 Future Bright Holdings Limited 本公佈乃根據香港聯合交易所有限公司證券上市規則第13.09條及香港法例 第571章證券及期貨條例第XIVA部 作 出。 佳景集團有限公司（「本 公 司」，連 同 其 附 屬 公 司 統 稱「本 集 團」）董事會（「董 事 會」）謹此知會本公司股東及潛在投資者一項有關截至二零二五年六月三十 日止六個月（「本 期 間」）之 正 面 溢 利 預 告。根 據 其 未 經 審 核 管 理 賬 目，本 集 團 於二零二五年第一季度（「第 一 季 度」）錄得本公司擁有人應佔未經審核溢利 約9,100,000港元及於二零二五年第二季度（「第 二 季 度」）錄得本公司擁有人應 佔未經審核虧損約500 ...

重要新闻提示 8月3日，2025年暑期档总票房（含预售）突破70亿元 三安光电（600703）：拟联合境外投资人以2.39亿美元收购Lumileds Holding B.V.100%股权 领益智造：深交所定于8月8日审核公司重组事项 今日提示 央行公开市场今日有4958亿元7天期逆回购到期 广东省自然资源厅《关于加快解决国有建设用地上不动产登记若干历史遗留问题的指导意见》今起实施 香港证券市场下调股票最低上落价位的第一阶段今日生效，适用证券包括股票、房地产投资信托基金、 股本权证、其他适用证券等 财经新闻 1. 据网络专业平台数据，截至8月3日21时57分，2025年暑期档（6月—8月）总票房（含预售）突破70亿 元，《南京照相馆》《长安的荔枝》《侏罗纪世界：重生》暂列票房榜前三位。截至8月3日21时21分， 单日电影票房突破3.75亿元，刷新2025年暑期档单日大盘票房新高。 2. 中国工商银行微信公众号8月3日消息，日前，工商银行发布《关于个人消费贷款与服务业经营主体贷 款贴息工作的公告》表示，正在依法依规、积极有序推进个人消费贷款与服务业经营主体贷款贴息政策 的组织实施工作。工商银行将坚持市场化、法治化 ...

Group 1: Company Developments - Sanan Optoelectronics plans to jointly acquire Lumileds Holding B.V. for $239 million, with a total investment of $280 million to establish a joint venture in Hong Kong [2] - Sanan Optoelectronics is a leading company in the domestic compound semiconductor sector, with advanced core technology and R&D capabilities [2] - The company has achieved mass production of 400G optical chips and small batch production of 800G optical chips, while 1.6T optical chips are still under development [2] Group 2: Industry Trends - Multiple paper companies have announced price increases, with some raising prices four times in a month, and corrugated paper prices increasing by 30 to 50 yuan per ton [3] - The rise in waste paper prices, which increased to 1567 yuan per ton by the end of July, is the main reason for the current paper price hikes [3] - The paper industry is experiencing a "de-involution" trend, with a focus on optimizing capacity and enhancing innovation to escape low-price competition [4] Group 3: Market Performance - As of August 1, the A-share market capitalization of the paper industry is 157.6 billion yuan, with several companies like Sun Paper and Xianhe Co. exceeding 10 billion yuan in market value [6] - The average increase in paper stocks this year is 9.49%, with three stocks rising over 40% [6] - Four paper companies reported positive earnings, with Minshida achieving a net profit of 63 million yuan in the first half of 2025, a 42.28% year-on-year increase [6][11] Group 4: Valuation Insights - As of August 1, seven paper stocks have a rolling P/E ratio below 30, indicating potential undervaluation [9] - Nineteen stocks have a P/B ratio below 2, with some companies trading below net asset value [9] - The paper industry is expected to benefit from the "de-involution" trend, with limited new capacity expected in 2025-2026, which may improve overall industry conditions [5]