Financial Performance - The Group recorded a turnover of HK$225.2 million for the six months ended June 30, 2024, representing a decrease of 3.2% compared to HK$232.6 million in the same period of 2023[2][3]. - Profit attributable to owners of the Company was approximately HK$0.5 million, a significant decrease of 97.8% from HK$24.3 million in the same period of 2023[3][5]. - Gross operating profit decreased to HK$49.7 million, down 23.0% from HK$64.6 million in the same period of 2023[2][4]. - EBITDA for the period was HK$44.9 million, a decline of 27.1% compared to HK$61.6 million in the same period of 2023[2][5]. - The gross margin for the period was approximately HK$169.1 million, representing a decrease of about 1.6% from HK$171.9 million in the same period of 2023, with a gross margin ratio of 75.1%[37]. - The profit for the period was HK$2,385,000, a decrease of 91.5% compared to HK$28,092,000 in 2023[100]. - The total comprehensive income for the period was HK$2,639,000, down from HK$28,588,000 in the previous year, reflecting a decline of 90.8%[100]. - The basic profit per share for the six months ended June 30, 2024, was HK$0.08, representing a decrease of approximately 97.8% from HK$3.50 in the same period of 2023[53]. Revenue Breakdown - Revenue from the food and catering segment was HK$176,163,000, down from HK$189,952,000 in 2023, indicating a decrease of about 7%[124]. - The food souvenir segment generated revenue of HK$39,035,000, an increase from HK$32,644,000, reflecting a growth of approximately 19%[124]. - Property investment revenue was HK$10,145,000, slightly up from HK$9,995,000, marking an increase of about 2%[124]. - The Group's revenue from external customers totaled HK$228,751,000, after inter-segment eliminations[125]. Operational Challenges - The food and catering industry continues to face challenges due to changes in consumer spending behavior and economic recovery[8][9]. - The Group's food and catering business in Macau underperformed despite the increase in visitor arrivals[12]. - The decrease in turnover was mainly due to the closure of restaurants in Mainland China last year, with same store performance declining by approximately 1.6%[23]. - Management is monitoring market conditions and adjusting strategies to improve food quality and services amid challenges such as declining consumer spending power and rising operating costs[19]. Visitor Trends - Visitor arrivals to Macau increased by 43.5%, totaling 16,719,983 visitors compared to 11,645,877 in the same period of 2023, reaching 82% of pre-pandemic levels[9]. - The Group's same store performance for restaurants and industrial catering decreased by 1.6%, while the food souvenir business saw an increase of 9.8%[5][7]. Cost Management - Management is implementing various cost control measures to maintain operating results and cash flows in the coming year[113]. - The Group's direct operating expenses for the food and catering business increased by 6.8% to HK$98.5 million in 2024 from HK$92.2 million in 2023[59]. Asset and Liability Management - As of June 30, 2024, the Group's net current liabilities were approximately HK$139.2 million, reflecting an increase of 7.0% from HK$130.1 million as of December 31, 2023[56]. - The Group's cash inflow from operating activities for the six months ended 30 June 2024 was approximately HK$40.4 million, a decrease of approximately 28.5% compared to HK$56.5 million in the same period of 2023[55]. - The Group's interest-bearing bank loans amounted to approximately HK$348.7 million as of June 30, 2024, a decrease from HK$359.8 million as of December 31, 2023[72]. Strategic Developments - The Group reopened 3 food court counters at Macau International Airport and opened 1 Snoopy themed food souvenir shop in Macau during the period[13]. - The Group has plans for further expansion in Hong Kong, with new openings such as Donbini and Kato in Skyline Plaza, each with floor areas of 262 sq.ft. and 234 sq.ft. respectively[187]. - Future tourism development is expected to benefit from improved connectivity in the Guangdong-Hong Kong-Macau Greater Bay Area, enhancing visitor flow[11]. Employee and Management Insights - The Group employed a total of 620 full-time staff as of June 30, 2024, a decrease from 645 staff as of June 30, 2023[85]. - Employee costs increased to HK$71,103,000, up from HK$64,187,000, reflecting a rise of about 11.9%[145]. Future Outlook - The company provided a future outlook with a revenue guidance of $1.2 billion for the next quarter, indicating a 20% growth expectation[195]. - Overall, the company remains optimistic about achieving a 25% increase in net income by the end of the fiscal year[195].

Financial Performance - The Group's turnover increased by 72.3% to HK$491.1 million for the year ended December 31, 2023, compared to HK$285.1 million in 2022[7]. - Gross margin rose by 83.8% to HK$358.9 million, up from HK$195.3 million in the previous year[7]. - The profit attributable to owners of the Company was HK$48.6 million, a significant recovery from a loss of HK$125.6 million in 2022[17]. - The Group recorded an EBITDA of HK$125.5 million, a turnaround from an LBITDA of HK$46.5 million in the previous year[7]. - Basic profit per share increased to HK7.00 cents, compared to a loss of HK18.09 cents per share in 2022[7]. - The Group's net ordinary operating profit was approximately HK$46.8 million, compared to a net ordinary operating loss of HK$120.3 million in 2022[28]. Visitor Arrivals and Market Conditions - Visitor arrivals to Macau increased approximately 394.9% compared to 2022, contributing to the Group's improved performance[17]. - The total number of visitors to Macau increased by 394.9%, reaching 28,213,003 visitors in the Year, compared to 5,700,339 visitors in 2022[25]. - Management is optimistic about the operating environment due to stable continuous growth in visitor arrivals[37]. - The recovery in travel and tourism spending in Macau and Hong Kong has led to substantial improvement in the performance of the Group's restaurants and food souvenir shops[37]. Business Segments - The food and catering business generated a profit of HK$24.4 million, while the food souvenir business contributed HK$20.3 million to the profit[18]. - The Group's food souvenir business achieved a total turnover of HK$44.8 million, with a gross margin of HK$69.1 million, significantly up from HK$26.1 million in 2022[33]. - The Group's industrial catering business recorded a turnover of approximately HK$16.3 million, representing a decrease of 5.8% from HK$17.3 million in 2022[30]. Financial Stability and Assets - Total assets increased by 5.7% to HK$1,003.7 million, compared to HK$949.9 million in 2022[8]. - Net assets per share rose by 20.5% to HK$0.513 from HK$0.426 in the previous year[8]. - The gearing ratio improved significantly to 170.0%, down from 212.6% in 2022, indicating better financial stability[8]. - The Key Investment Property was valued at approximately HK$558.0 million as of December 31, 2023, slightly up from HK$556.0 million in 2022[22]. Operational Challenges and Strategies - The Group faces challenges such as intense competition, rising operating costs, and changing consumer preferences in the food and catering industry[37]. - Management is actively reviewing and monitoring operational performance to enhance market position and brand value[37]. - The Group aims to capitalize on opportunities in Macau's tourism and food and beverage industry for continued growth[37]. Environmental, Social, and Governance (ESG) Initiatives - The ESG governance structure includes a taskforce responsible for managing ESG issues and reporting to the Board[42]. - The Group has established a Food Safety Department to oversee food safety and hygiene across all operations[48]. - Independent professional firms conduct annual reviews of the Group's internal control and risk systems to ensure compliance with ESG responsibilities[48]. - A materiality assessment was conducted to identify key issues impacting the Group's business and stakeholders, with results confirmed by the Board[55]. - The Group emphasizes stakeholder engagement, maintaining communication with various parties including the Board, employees, investors, and communities[57]. - Key materiality issues identified include food quality and safety, occupational health and safety, and compliant operation, among others[66]. - The Group is committed to improving its ESG performance and creating greater value for the community and society[64]. Waste and Resource Management - The Group generated a total of 187 tonnes of non-hazardous waste in 2023, up from 99 tonnes in 2022, representing an increase of approximately 88.9%[97]. - Food waste accounted for 131 tonnes in 2023, significantly higher than 58 tonnes in 2022, indicating a 126.2% increase[97]. - The Group's waste management policy focuses on reducing non-hazardous waste, primarily from food and paper[91]. - The Group has implemented inventory control measures to avoid wastage and encourages staff to minimize paper use[92]. Energy and Water Consumption - Energy consumption in Macau increased to 6,962,450 kWh in 2023 from 5,522,234 kWh in 2022, marking a rise of 26.1%[104]. - Total water consumption rose to 114,942 cubic meters in 2023, up from 99,124 cubic meters in 2022, reflecting a 16.0% increase[112]. - The Group's sewage output also increased by 16.0%, totaling 80,459 cubic meters in 2023 compared to 69,387 cubic meters in 2022[114]. Employee and Labor Practices - The Group employs a total of 629 full-time employees and 56 part-time employees as of December 31, 2023[167]. - The Group emphasizes compliance with local laws regarding labor and has had no material non-compliance issues during the year[156]. - The average monthly turnover rate for the company is 3.3%, with Macau at 1.5%, Hong Kong at 9.4%, and Mainland China at 6.2%[169]. - The average training hours per full-time employee is 1.5 hours, with female employees receiving an average of 1.8 hours and male employees 1.5 hours[179]. Safety and Compliance - The Group maintains a high occupational safety and health standard, satisfying all legal requirements without any material complaints or claims from customers[182]. - The Food Safety Department is responsible for monitoring food safety and hygiene across all operations[183]. - The Group recorded no work-related fatalities in the past 3 years, with 942 days lost due to work injuries during the Year[188]. - There were no material non-compliance issues related to bribery, extortion, fraud, or money laundering that significantly impacted the Group during the Year[193].

Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 491,112,000, representing a 72.3% increase compared to HKD 285,056,000 in 2022[2] - Gross profit for the same period was HKD 358,928,000, up 83.8% from HKD 195,325,000 in the previous year[2] - The company reported a net profit attributable to shareholders of HKD 48,588,000, a significant recovery from a loss of HKD 125,612,000 in 2022[2] - Basic earnings per share improved to HKD 0.07 from a loss of HKD 0.1809 in the prior year[2] - The company achieved an operating profit of HKD 127,116,000, recovering from an operating loss of HKD 12,890,000 in 2022[3] - EBITDA for the year was HKD 125,465,000, compared to an LBITDA of HKD 46,518,000 in the previous year[2] - The total comprehensive income for the year was HKD 60,624,000, a turnaround from a loss of HKD 109,332,000 in 2022[3] - The group reported a pre-tax profit of HKD 9,394,000 in 2023, a recovery from a loss of HKD 48,106,000 in 2022[42] Assets and Liabilities - Total assets increased by 5.7% to HKD 1,003,720,000 from HKD 949,936,000 in 2022[2] - Net assets rose by 20.5% to HKD 356,127,000, compared to HKD 295,503,000 in the previous year[2] - The debt-to-asset ratio improved to 170.0% from 212.6%, a decrease of 42.6%[2] - The total liabilities reached HKD 647,593,000, compared to HKD 654,433,000 in the previous year[5] - The total non-current liabilities increased to HKD 413,582,000 from HKD 391,476,000 in 2022[5] - As of December 31, 2023, the group's net current liabilities amounted to approximately HKD 130.1 million, a decrease of 27.1% from HKD 178.5 million in 2022[73] - The group's interest-bearing bank loans were approximately HKD 359.8 million as of December 31, 2023, down from HKD 371.9 million in 2022, indicating a reduction of 3.0%[74] Revenue Segments - Revenue from food and beverage sales in Hong Kong and Taiwan reached HKD 367.49 million, up from HKD 220.37 million in the previous year, representing a growth of 66.7%[22] - Sales from food souvenirs, including festive foods, increased to HKD 103.63 million from HKD 44.77 million, marking a growth of 131.5%[22] - Total revenue from property investment rentals was HKD 19.99 million, slightly up from HKD 19.91 million[22] - Total reported segment revenue for the year ended December 31, 2023, was HKD 498,738,000, a significant increase from HKD 302,882,000 in 2022, representing a growth of approximately 64.5%[32] - The food and beverage segment generated revenue of HKD 374,359,000 for the year ended December 31, 2023, up from HKD 237,006,000 in 2022, marking an increase of approximately 57.9%[32] - The property investment segment reported a profit of HKD 10,251,000 for the year ended December 31, 2023, compared to a profit of HKD 3,558,000 in 2022, indicating a growth of approximately 187.5%[32] Operational Performance - The group recorded a net operating cash inflow of HKD 124,555,000 during the year[9] - The company has unutilized bank and credit facilities totaling approximately HKD 74,100,000[10] - Management is implementing various cost control measures, including flexible working hours, to maintain operational performance and cash flow in the coming year[14] - The group plans to consider the disposal of certain investment properties and land to repay bank loans and strengthen liquidity[14] - The group expanded its workforce to approximately 629 employees, an increase from 586 in 2022, to enhance operational efficiency and support logistics[71] Market Conditions and Strategy - The group benefits from the recovery of tourism and consumer spending in Macau and Hong Kong, leading to significant improvements in restaurant and food souvenir shop performance[88] - Management maintains an optimistic outlook on the business environment, supported by a steady increase in visitor numbers[88] - The group faces challenges such as intensified competition in the food and beverage industry, rising operational costs, and changing consumer preferences[88] - The company is committed to continuously reviewing and closely monitoring its operational performance to enhance market position and brand value[88] - The group aims to seize opportunities in the Macau tourism and dining sectors to drive business growth[88] Governance and Compliance - The audit committee reviewed the financial statements and the annual performance before submission to the board, ensuring transparency and accuracy in reporting[84] - The company adhered to the corporate governance code throughout the year, with minor deviations noted regarding attendance at the annual general meeting[86] - The group maintained sufficient public float throughout the year, ensuring compliance with regulatory requirements[83]

Financial Performance - The Group recorded a turnover of HK$232.6 million for the six months ended June 30, 2023, representing a significant increase of 71.9% compared to HK$135.3 million in the same period of 2022[5]. - The profit attributable to owners of the Company was HK$24.3 million, a turnaround from a loss of HK$104.7 million in the same period of 2022[7]. - The gross margin increased to 73.9% with an EBITDA of HK$61.6 million, compared to a gross margin of 68.5% and an LBITDA of HK$60.9 million in the same period of 2022[17]. - The net ordinary operating profit was HK$24.3 million, a significant improvement from a net ordinary operating loss of HK$95.9 million in the same period of 2022[17]. - The profit before income tax for the period was HK$27,549,000, a turnaround from a loss of HK$110,240,000 in the same period last year[196]. - The profit for the period was HK$28,092,000, compared to a loss of HK$109,040,000 in the prior year, showcasing a strong recovery[196]. - Basic and diluted earnings per share increased to 3.50 HK cents, compared to a loss of 15.07 HK cents per share in the previous year[196]. Business Segments - The Group's food and catering business generated a profit of HK$18.2 million, while the food souvenir business contributed HK$4.1 million and the property investment business added HK$4.0 million to the profit[8]. - The Group's industrial catering business recorded a total turnover of approximately HK$10.6 million, an increase of about 21.8% from HK$8.7 million in the same period of 2022[21]. - The food wholesale business declined, recording a turnover of approximately HK$5.9 million, a decrease of about 7.8% from HK$6.4 million in the same period of 2022[21]. - The food souvenir business achieved a total turnover of HK$32.6 million, a substantial increase from HK$5.3 million in the same period of 2022[25]. - The food and catering business contributed HK$18.2 million to the profit, while the food souvenir and property investment businesses contributed HK$4.1 million and HK$4.0 million, respectively[79][80]. Visitor Arrivals - Visitor arrivals to Macau surged to 11,645,877, marking a significant increase of 236.1% compared to 3,465,107 visitors in the same period of 2022[19]. - The increase in turnover was mainly attributed to the rise in visitor arrivals in Macau and Hong Kong during the Period[35]. - The total number of visitors to Macau increased significantly to 11,645,877, a rise of 236.1% compared to 3,465,107 in the same period of 2022[22]. Operational Efficiency - The Group's same store performance improved by 110.8% in the restaurant and industrial catering business, and by 579.2% in the food souvenir business compared to the same period of 2022[17]. - The Group's turnover ratio for EBITDA improved to 26.5% in 2023 from (45.0)% in 2022, indicating enhanced operational efficiency[78]. - The Group's central kitchen in Hong Kong and logistic processing center in Macau are enhancing operational efficiency for restaurants and food court counters[138]. Financial Position - The total assets amounted to HK$946.9 million as of June 30, 2023, a slight decrease of 0.3% from HK$949.9 million at the end of 2022[5]. - The gearing ratio improved to 182.9%, down from 212.6% in the previous year, indicating a reduction in financial leverage[5]. - The cash inflow from operating activities for the period was approximately HK$56.5 million, a turnaround from a cash outflow of HK$37.2 million in the same period of 2022[101]. - As of June 30, 2023, the Group's net current liabilities were approximately HK$136.8 million, impacted by lease liabilities of approximately HK$42.0 million[103]. - The Group's net assets increased by 9.6% to approximately HK$324.1 million as of June 30, 2023, compared to HK$295.5 million as of December 31, 2022[111]. Future Outlook - Management remains optimistic about the operating environment despite challenges such as intense competition and rising operating costs[29]. - The Group plans to open 3 food court counters in Macau International Airport and 3 in Lisboeta Macau in the second half of 2023[20]. - The overall financial performance reflects a strategic recovery and growth in core business segments, positioning the Group for future expansion[82].

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） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 中 期 業 績 公 佈 財務摘要 截至六月三十日止六個月 二零二三年 二零二二年 變動 （未經審核） （未經審核） 千港元 千港元 百分比 營業額 232,591 135,329 +71.9% 毛利 171,927 92,636 +85.6% 經營毛利╱（毛損） 64,615 (25,994) 不適用 EBITDA╱（LBITDA） 61,593 (60,939) 不適用 本公司擁有人應佔溢利╱（虧損） 24,341 (104,652) 不適用 普通經營溢利╱（虧損）淨額 24,341 (95,852) 不適用 每股基本盈利╱（虧損） 3.50港仙 (15.07)港仙 不適用 ...

Financial Performance - For the year ended December 31, 2022, the turnover decreased by 40.0% to HK$285,056,000 compared to HK$475,422,000 in 2021[7] - The gross margin also fell by 40.6% to HK$195,325,000 from HK$328,734,000 in the previous year[7] - The company reported a loss attributable to owners of the Company of HK$125,612,000, representing an increase of 72.2% from HK$72,953,000 in 2021[7] - Basic loss per share increased by 72.2% to HK(18.09) cents from HK(10.51) cents in 2021[7] - Total assets decreased by 12.7% to HK$949,936,000 from HK$1,088,091,000 in 2021[9] - Net assets fell by 27.0% to HK$295,503,000 compared to HK$404,835,000 in the previous year[9] - The gearing ratio increased to 212.6%, up from 159.6% in 2021, indicating a rise of 53.0%[9] - The Group recorded a loss attributable to shareholders of approximately HK$125.6 million for the year, an increase of about 72.2% compared to a loss of HK$72.9 million in 2021[24] - The Group's turnover decreased by approximately 40.0% compared to the previous year[28] - The food and catering business incurred a loss attributable to owners of approximately HK$115.3 million, including impairment losses on property and equipment of about HK$12.4 million and goodwill impairment of HK$25.8 million[25] - The Group's gross operating loss ratio was 4.5%, compared to a gross operating profit ratio of 2.8% in 2021[28] Impact of COVID-19 - The COVID-19 pandemic, particularly the Omicron variant, significantly impacted the Group's business and financial performance throughout 2022[19] - Various outbreaks in regions such as Hong Kong and Macau led to tightening of travel and dining restrictions, adversely affecting the food and beverage industry[20] - The Macau government's travel restrictions were progressively eased starting in late 2022, allowing for a gradual increase in visitor arrivals[20] - Visitor numbers to Macau decreased by 26.0% to 5,700,339 in the year, compared to 7,705,943 visitors in 2021[33] - With the lifting of travel restrictions in early January 2023, there is an expectation of improved visitor levels and business performance in Macau and Hong Kong[44] Business Operations and Developments - A casual Cantonese restaurant has recently opened in Macau, with plans to open three food court counters at Lisboeta Macau in 2023[37] - The Group's management will continue to monitor business development and operations closely to enhance brand value and market position[44] - The Group's central kitchen and logistics center in Macau is responsible for the procurement, delivery, and distribution of fresh and safe food ingredients to the Group's restaurants, with a smaller central kitchen in Hong Kong for specific food items[55] Environmental, Social, and Governance (ESG) Initiatives - The ESG report covers the Group's business activities in Macau, Hong Kong, and Mainland China, with key performance indicators (KPIs) established to benchmark performance[56] - The Group engages independent professional firms for annual reviews of its internal control and risk systems, ensuring compliance with environmental and social responsibilities as per local regulations[55] - The Board regularly reviews and updates strategies and policies related to environmental and social issues, assigning senior management to implement these changes[55] - The materiality assessment conducted during the reporting period identified key issues for the ESG report, confirmed by the Board[62] - Stakeholder engagement is prioritized, with the Group maintaining communication with various stakeholders, including employees, investors, and regulatory authorities[64] - The Group is committed to improving its ESG performance and creating greater value for the community and society on a continuous basis[70] Environmental Performance - In 2022, total NOx emissions decreased to 44.0 kg from 66.8 kg in 2021, representing a reduction of approximately 34%[87] - GHG emissions in 2022 totaled 5,701 tCO2e, down from 10,811 tCO2e in 2021, indicating a decrease of about 47.3%[93] - Total non-hazardous waste generated in 2022 was 99 tonnes, down from 165 tonnes in 2021, reflecting a reduction of about 40%[103] - Energy consumption decreased by 35.3% in 2022 compared to 2021, contributing to improved operational efficiency[108] - The Group aims to achieve its 2026 environmental targets, which will depend on sales performance from 2023 to 2026[135] Employee Development and Safety - As of December 31, 2022, the Group employed a total of 586 full-time employees and 101 part-time employees, with an average monthly turnover rate of 3.4%[177][179] - The average training hours per full-time employee in 2022 was 2.8 hours, with variations by gender and age group[186] - The Group treats occupational health and safety as a top priority, investing in internal training and safety procedures[190] - All restaurant employees are required to attend health and safety training, and safety procedures are in place to handle emergency cases[194] - The Group has implemented mandatory mask-wearing and temperature checks for employees and customers during the COVID-19 pandemic, which continues to ensure a hygienic environment[195]

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） （股份代號：703） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 全 年 業 績 公 佈 財務摘要 截至十二月三十一日止年度 二零二二年 二零二一年 變動 千港元 千港元 百分比 營業額 285,056 475,422 -40.0% 毛利 195,325 328,734 -40.6% 經營（毛損）╱毛利 (12,890) 13,085 不適用 （LBITDA）╱EBITDA (46,518) 34,964 不適用 本公司擁有人應佔虧損 (125,612) (72,953) +72.2% 普通經營虧損淨額 (120,332) (67,673) +77.8% ...

Financial Performance - The Group recorded a turnover of HK$135.3 million for the six months ended June 30, 2022, representing a decrease of 42.2% compared to HK$233.8 million in the same period of 2021[5]. - The gross margin decreased to HK$92.6 million, down 43.2% from HK$162.9 million in the previous year[5]. - The loss attributable to shareholders was HK$104.7 million, an increase of 122.9% from HK$46.9 million in the same period of 2021[5][10]. - The Group experienced a gross operating loss ratio of 19.2%, compared to a gross operating profit ratio of 0.1% for the same period in 2021[10]. - The net ordinary operating loss was HK$95.9 million, compared to HK$46.9 million for the same period of 2021, reflecting an increase of 104.2%[10]. - The Group recorded a negative EBITDA of HK$60.9 million, compared to a positive EBITDA of HK$17.8 million in the same period of 2021[5][10]. - The total loss for the second quarter of 2022 was HK$69.8 million, reflecting a significant increase of 298.9% from HK$17.5 million in the second quarter of 2021[95]. - The loss attributable to owners of the Company for the first quarter of 2022 was HK$34.9 million, an increase of 18.7% from HK$29.4 million in the first quarter of 2021[91]. - The basic loss per share for the first half of 2022 was approximately HK15.07 cents, which is an increase of about 122.9% from HK6.76 cents in the same period of 2021[111]. Business Segment Performance - The same store performance of the restaurant and industrial catering business decreased by 29.8%, while the food souvenir business saw a decline of 63.4% compared to the same period of 2021[10]. - The industrial catering business recorded a turnover of approximately HK$8.7 million, a decrease of about 1.1% from HK$8.8 million in the same period of 2021[21]. - The food wholesale business reported a turnover of approximately HK$6.4 million, representing a decrease of 24.7% from HK$8.5 million in the same period of 2021[21]. - The food souvenir business saw a substantial drop in turnover to HK$5.3 million from HK$14.7 million in the same period of 2021, with significant losses incurred[25]. - The gross margin for the food souvenir business decreased to 3.1% from 10.9% in the previous year, indicating a decline in profitability[25]. - The Group's food and catering business generated a turnover of HK$120.0 million, accounting for about 88.7% of the Group's total turnover, reflecting a decrease of 42.6% from HK$209.2 million in the previous year[130][131]. Operational Changes - The Group closed 5 restaurants and 7 food court counters during the Period due to poor performance, while planning to open two casual Cantonese restaurants in Macau in the second half of 2022[20]. - Management is closely monitoring the operating environment and may consider further closures of unprofitable restaurants in the future[28]. - The number of restaurants decreased to 36 as of June 30, 2022, down from 54 in the previous year, with a total restaurant area of 67,186 sq.ft.[134]. - The number of food court counters decreased to 12 from 20 in 2021, a decline of 40%[143]. - The number of restaurants in Macau decreased to 14 from 20 in 2021, a decline of 30%[142]. Financial Position - Total assets decreased by 8.9% to HK$991.4 million from HK$1,088.1 million as of December 31, 2021[5]. - The gearing ratio increased to 219.8%, up from 159.6% in the previous year, indicating a significant rise in financial leverage[5]. - As of June 30, 2022, the net current liabilities of the group were approximately HK$183.9 million, an increase of 12.7% from HK$163.2 million at the end of 2021[121]. - The Group's net assets as of June 30, 2022, were approximately HK$301.1 million, representing a decrease of approximately 25.6% compared to HK$404.8 million as of December 31, 2021[125][126]. - The cash outflow from operating activities for the first half of 2022 was approximately HK$37.2 million, compared to a cash inflow of approximately HK$29.6 million in the same period of 2021[116]. Market Conditions - The ongoing COVID-19 pandemic and recent outbreaks in Zhuhai, Shenzhen, and Macau are expected to continue negatively impacting the Group's restaurant business[28]. - The decrease in turnover was mainly due to the serious outbreak of the Omicron variant of COVID-19 and the closure of restaurants, with same store performance declining by 32.8%[37]. - The Group's restaurant chain business performance aligned with the decreased level of visitor inflow to Macau[37]. - The operating environment remains challenging, with management maintaining a cautious financial approach to mitigate negative impacts[33]. - The Hong Kong Government has reduced hotel quarantine requirements for inbound travelers, which may improve the retail and restaurant business in the future[31]. Governance and Compliance - The audit committee reviewed the condensed consolidated interim financial statements and interim results announcement before submission to the Board for adoption[194]. - The risk committee is responsible for recommending risk management frameworks and monitoring the company's risks[195]. - The company complied with the Corporate Governance Code during the period, with a minor deviation regarding the disclosure of independent non-executive directors' tenure[196]. - The company has adopted a code of conduct regarding securities transactions by directors, confirming compliance with the required standards[197].

Financial Performance - Turnover for the year ended December 31, 2021, was HK$475,422,000, representing a 13.4% increase from HK$419,433,000 in 2020[3] - Gross margin increased by 15.6% to HK$328,734,000 compared to HK$284,403,000 in the previous year[3] - The loss attributable to owners of the Company decreased by 39.7% to HK$72,953,000 from HK$120,945,000 in 2020[3] - Basic loss per share improved to HK(10.51) cents, down from HK(17.42) cents in 2020, reflecting a 39.7% reduction[3] - EBITDA for the year was HK$34,964,000, a decrease of 28.6% from HK$49,026,000 in 2020[3] - The Group recorded a loss attributable to shareholders of approximately HK$72.9 million for the Year, a decrease of about 39.7% compared to HK$120.9 million in 2020[12][18][19] - Turnover increased by approximately 13.4% compared to 2020[14] - The gross margin ratio improved to approximately 69.1%, with EBITDA at about HK$35.0 million, compared to a gross margin ratio of 67.8% and EBITDA of HK$49.0 million in 2020[18][19] Asset and Liability Management - Total assets decreased by 16.0% to HK$1,088,091,000 from HK$1,294,551,000 in 2020[3] - Net assets fell by 17.7% to HK$404,835,000 compared to HK$492,083,000 in the previous year[3] - The gearing ratio increased to 159.6%, up from 149.7% in 2020, indicating a 9.9% rise[3] - The total assets to total liabilities ratio slightly decreased to 1.59 from 1.61 in 2020[3] Business Operations and Strategy - The company plans to continue focusing on market expansion and new product development to drive future growth[3] - The same store performance of the restaurant and industrial catering business increased by 22.0%, while the food souvenir business saw a 60.1% increase compared to 2020[18][19] - The Group's food and catering business in Macau recorded a total of 7.705 million visitors, an increase of 30.7% from 5.896 million visitors in 2020[23][25] - The Group closed 7 restaurants, 1 coffee shop, and 4 food court counters during the Year, with plans to open a casual Cantonese restaurant in Macau in the first half of 2022[24] - The Group's industrial catering business reported a total turnover of approximately HK$11.2 million, a decrease of about 8.9% compared to HK$12.3 million in 2020[28] - The food wholesale business showed improvement with a turnover of approximately HK$16.4 million, representing an increase of about 4.5% from HK$15.7 million in 2020[28] - The food souvenir business achieved a total turnover of HK$53.2 million, up from HK$34.7 million in 2020, marking a significant increase[31] Environmental, Social, and Governance (ESG) Initiatives - The Group has established an ESG working taskforce to systematically manage ESG issues, which includes core members from different departments[44] - The Board is responsible for overseeing the Group's ESG management approach and ensuring effective risk management and internal controls[44] - The Group engages independent professional firms for annual reviews of its internal control and risk system, ensuring compliance with environmental and social responsibilities[47] - The Group's management structure includes a Food Safety Department to monitor food safety and hygiene across all operations[47] - The Group has implemented consistent reporting standards in its ESG report compared to the previous year, with detailed quantitative data provided[65] - The Group emphasizes stakeholder engagement, maintaining communication with the Board, employees, investors, customers, suppliers, and regulatory authorities to address their concerns[60] - The Group is committed to improving its ESG performance and creating greater value for the community through continuous collaboration with stakeholders[62] Environmental Performance Metrics - The Group's total GHG emissions in 2021 were 10,811 tCO2e, a decrease of 3.9% from 11,253 tCO2e in 2020[79] - Annual NOx emissions decreased to 66.8 kg in 2021 from 75.4 kg in 2020, representing a reduction of 11.4%[76] - The total non-hazardous waste generated by the Group in 2021 was 165 tonnes, an increase of 10.74% from 149 tonnes in 2020[88] - Food waste accounted for 104 tonnes in 2021, up from 93 tonnes in 2020, representing an increase of 11.83%[88] - The Group's total energy consumption in 2021 was 204,024 kWh, a decrease of 2.4% from 209,034 kWh in 2020[98] - Water consumption decreased significantly by 36.1% to 204,412 cubic meters in 2021 from 319,957 cubic meters in 2020[105] Employee and Labor Practices - The Group provides competitive remuneration packages to attract and retain talent, including wages, incentives, and discretionary performance bonuses[175] - All employees are entitled to timely payment of salaries, statutory holidays, and other benefits, ensuring compliance with local labor laws[180] - The Group has no material non-compliance issues related to labor laws, including child and forced labor regulations, during the year[182] - The Group's annual number of suppliers reflects a commitment to sourcing locally to reduce transportation costs and greenhouse gas emissions[169] - As of December 31, 2021, the Group employed a total of 903 full-time staff and 266 part-time workers, with an overall average monthly turnover rate of 4.0%[185] - The average training hours per employee during the year was 1.8 hours, with female employees receiving an average of 1.9 hours and male employees 1.8 hours[194]

Financial Performance - The Group reported a turnover of HK$233.8 million for the six months ended June 30, 2021, representing an increase of 16.8% compared to HK$200.2 million in the same period of 2020[5]. - Gross margin increased by 17.8% to HK$162.9 million from HK$138.3 million year-on-year[5]. - The loss attributable to owners of the Company was HK$46.9 million, a decrease of 57.5% compared to a loss of HK$110.4 million in the same period last year[8]. - The Group's net ordinary operating loss was HK$46.9 million, down from HK$104.2 million, reflecting a reduction of 55.0%[5]. - Basic loss per share improved to HK(6.76) cents from HK(15.89) cents, a decrease of 57.5%[5]. - The Group recorded a loss attributable to shareholders of approximately HK$40.1 million during the Period, compared to a loss of HK$110.3 million for the same period in 2020[15]. - The Group's turnover increased by approximately 16.8% compared to the same period in 2020, largely due to improved restaurant performance following the relaxation of social distancing measures[15]. - The Group recorded a net ordinary operating loss of approximately HK$46.9 million, compared to a net ordinary operating loss of approximately HK$104.1 million for the same period in 2020[15]. - The Group's EBITDA for the Period was approximately HK$17.7 million, compared to a negative EBITDA of approximately HK$21.7 million in the same period of 2020, reflecting an improvement due to increased turnover and gross operating profit[82][83]. Business Segments Performance - The Group's industrial catering business achieved a total turnover of approximately HK$8.8 million, representing an increase of approximately 131.6% compared to HK$3.8 million for the same period in 2020[20]. - The food wholesale business recorded a total turnover of approximately HK$8.5 million, an increase of approximately 19.7% compared to HK$7.1 million for the same period in 2020[20]. - The Group's food souvenir business experienced considerable turnover growth but reported a loss during the Period[22]. - The food and catering business turnover for the first half of 2021 was HK$209.2 million, up 15.6% from HK$180.9 million in the same period of 2020[53]. - The food souvenir business reported a turnover of HK$14.7 million for the first half of 2021, a 50.0% increase from HK$9.8 million in 2020[53]. - The gross margin for the food and catering business was approximately HK$142.6 million, which is a 16.5% increase compared to HK$122.4 million in the previous year[127]. - The gross margin for the food souvenir business improved to HK$10.9 million, a 65.2% increase from HK$6.6 million in 2020[148]. Operational Efficiency - The Group managed to reduce direct operating expenses by 17.4%, administrative expenses by 27.2%, and finance costs by 40.5% compared to the same period in 2020[10]. - The Group operates a central kitchen in Hong Kong and a central food and logistic processing center in Macau to enhance operational efficiency[150]. - The Group plans to continue enhancing its logistic support, including food sourcing and processing facilities[150]. Assets and Liabilities - Total assets decreased by 6.4% to HK$1,212.2 million from HK$1,294.6 million[5]. - Net assets decreased by 11.1% to HK$437.7 million from HK$492.1 million[5]. - The gearing ratio increased to 161.5% from 149.7%, reflecting an increase of 11.8%[5]. - The net current liabilities of the group as at 30 June 2021 were approximately HK$156.0 million, impacted by total lease liabilities of approximately HK$162.1 million[116]. - The Group's cash and bank balances totaled approximately HK$57.7 million as of June 30, 2021, up from HK$43.7 million as of December 31, 2020[153]. - Interest-bearing bank loans amounted to approximately HK$396.0 million as of June 30, 2021, compared to HK$384.4 million as of December 31, 2020[154]. Market Conditions and Future Outlook - Management expects the operating environment to remain challenging in the second half of 2021 due to ongoing COVID-19 uncertainties[31]. - The Macau government issued electronic consumption vouchers of MOP5,000, and the Hong Kong government issued HK$2,000 electronic consumption vouchers to stimulate spending[28]. - The Group has launched promotional programs with electronic payment platforms to boost revenue through discount coupons for dining[28]. Corporate Governance and Compliance - The company has complied with the Corporate Governance Code as set out in Appendix 14 of the Listing Rules during the period[192]. - All directors confirmed compliance with the code of conduct regarding securities transactions[193]. - The audit committee consists of three independent non-executive directors who reviewed the accounting principles and critical estimates[191]. - The risk committee is responsible for recommending risk management frameworks and monitoring the company's risks[191]. Employment and Staff - As of June 30, 2021, the Group employed a total of 1,048 full-time staff, a decrease of 25.9% from 1,417 staff as of June 30, 2020[176]. - The remuneration packages for employees are regularly reviewed with reference to market terms and individual qualifications[176].