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 就 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 之 任 何 損 失 承 擔 任 何 責 任。 Miricor Enterprises Holdings Limited 卓珈控股集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1827） 截 至2025年3月31日 止 年 度 之 年 度 業 績 公 告 摘 要 – 1 – • 截至2025年3月31日止年度，本集團的收益約為四億零三百二十萬港元， 較 截 至2024年3月31日 止 年 度 的 約 四 億 九 千 四 百 三 十 萬 港 元 減 少 約 九 千 一 百 一 十 萬 港 元 或18.4%。 • 截 至2025年3月31日 止 年 度，本 公 司 擁 有 人 應 佔 溢 利 約 為 一 千 零 六 十 萬 港 元，較 截 至2024年3月31 ...

Financial Performance - Loss attributable to the owners of the Company was approximately HK$0.6 million for the six months ended 30 September 2024, a significant improvement from a loss of HK$13.1 million for the same period in 2023[8]. - Revenue for the six months ended 30 September 2024 was HK$200.1 million, down from HK$237.0 million in the previous year, representing a decrease of approximately 15.6%[10]. - The Company reported a profit before tax of HK$1.8 million for the six months ended 30 September 2024, compared to a loss before tax of HK$16.6 million for the same period in 2023[10]. - Total comprehensive loss for the period was HK$156,000, a notable reduction from HK$13.2 million in the prior year[10]. - Basic and diluted loss per share attributable to ordinary equity holders of the Company was HK(0.16) cents, compared to HK(3.26) cents for the same period in 2023[10]. - The company reported a loss for the period of HK$630,000 for the six months ended September 30, 2024, compared to a loss of HK$13,050,000 for the same period last year[21]. - The Group's profit before tax for the six months ended September 30, 2024, was a loss of HK$630,000, significantly improved from a loss of HK$13,050,000 in the same period of 2023[89]. - Total tax charge for the period was HK$2,393,000, compared to a tax credit of HK$3,584,000 in the previous year[83]. Revenue Breakdown - Revenue from contracts with customers for the six months ended September 30, 2024, was HK$200,076,000, a decrease of 15.6% compared to HK$237,010,000 for the same period in 2023[68]. - Revenue from Hong Kong was HK$195,040,000, down from HK$215,069,000, representing a decline of 9.3%[41]. - Revenue from the Chinese Mainland significantly decreased to HK$5,036,000 from HK$21,941,000, a decline of 77%[41]. - Treatment services generated revenue of HK$170,722,000, while skincare products revenue dropped to HK$29,336,000, down 51.7% from HK$60,631,000 in the previous year[68]. Cost Management - Staff costs decreased to HK$25.4 million from HK$27.0 million year-on-year, reflecting a reduction of approximately 5.8%[10]. - Property rentals and related expenses decreased to HK$74.2 million from HK$91.5 million, a reduction of approximately 18.9%[10]. - Finance costs decreased significantly to HK$51.4 million from HK$79.5 million, indicating a reduction of approximately 35.4%[10]. - Other expenses, net decreased by approximately HK$28.1 million or 35.3%, from approximately HK$79.5 million in the previous period to approximately HK$51.4 million in the current period[141]. - Cost of inventories and consumables amounted to approximately HK$25.4 million for the period under review, representing 12.7% of total revenue[134]. Asset and Liability Management - Total non-current assets decreased slightly to HK$195,688,000 as of September 30, 2024, from HK$196,881,000 as of March 31, 2024[14]. - Current assets totaled HK$272,981,000, a decrease from HK$282,562,000 as of March 31, 2024, primarily due to a reduction in trade receivables[14]. - Net current assets improved to HK$19,046,000 compared to HK$4,585,000 as of March 31, 2024, indicating better liquidity[14]. - Total current liabilities decreased to HK$253,935,000 from HK$277,977,000, reflecting a reduction in other payables and accruals[14]. - Non-current liabilities increased to HK$78,127,000 as of September 30, 2024, up from HK$64,703,000 as of March 31, 2024, mainly due to higher lease liabilities[17]. - Total equity remained stable at HK$136,607,000 as of September 30, 2024, compared to HK$136,763,000 as of March 31, 2024[17]. - Cash and cash equivalents increased to HK$128,561,000 from HK$119,829,000, indicating improved cash flow management[14]. - Cash and cash equivalents at the end of the period were HK$89,092,000, an increase from HK$77,329,000[26]. - The company reported a net increase in cash and cash equivalents of HK$13,278,000, contrasting with a decrease of HK$28,199,000 in the prior period[26]. - The Group's non-current assets as of September 30, 2024, totaled HK$164,461,000, a decrease from HK$168,997,000 as of March 31, 2024[60]. - Trade receivables as of September 30, 2024, amounted to HK$3,803,000, a significant decrease of 71.7% from HK$13,402,000 as of March 31, 2024[98][103]. - Trade payables totaled HK$9,189,000 as of September 30, 2024, a decrease from HK$10,561,000 as of March 31, 2024[107]. Employee and Management - The Group had a total of 242 employees, a decrease from 413 employees as of September 30, 2023[151]. - Key management personnel compensation for the six months ended September 30, 2024, totaled HK$4,847,000, slightly down from HK$4,996,000 in the same period of 2023[117]. - Employee costs for the six months ended September 30, 2024, were approximately HKD 74.2 million, down from approximately HKD 91.5 million for the same period in 2023[155]. Strategic Focus and Future Outlook - The Group plans to adopt a cautious and prudent operating strategy in the second half of the year, focusing on optimizing operational strategies and cost to maintain competitiveness[132]. - The Group remains committed to high-quality service delivery to strengthen customer confidence and loyalty to its brand[130]. - The Group's strategic focus will prioritize resources towards core businesses with competitive advantages to enhance overall profitability and shareholder value[132]. - The company plans to introduce new treatments and products to enhance brand visibility and market presence in response to evolving market demands[161]. - The group recognizes the structural transition in the consumer market and will continue to adopt cautious and prudent operating strategies[159]. - The group has implemented strategic measures to diversify revenue streams and reduce expenses, including optimizing its sales network and launching promotional activities[160]. Compliance and Governance - The company has confirmed compliance with the Model Code for Securities Transactions by Directors, with all directors affirming adherence to the required standards during the six months ended September 30, 2024[195]. - The company has adopted a non-competition undertaking to ensure compliance with relevant regulations[199]. - The Company aims to ensure that its business operations remain free from direct competition from its Controlling Shareholders[200]. - The non-competition undertakings are designed to protect the Company's market position and strategic interests[200]. - The Controlling Shareholders have committed to non-competition undertakings as per the deed dated December 19, 2016[200].

Financial Performance - For the six months ended September 30, 2024, the group's revenue was approximately HKD 200.08 million, a decrease of about HKD 36.93 million or 15.6% compared to HKD 237.01 million for the same period in 2023[1]. - The company reported a loss attributable to equity holders of approximately HKD 630,000, compared to a loss of HKD 13.31 million for the same period in 2023[1]. - Total comprehensive loss for the period amounted to HKD 156,000, compared to HKD 13.19 million in the previous period[4]. - Basic and diluted loss per share was HKD 0.16, compared to HKD 3.26 for the same period last year[4]. - The group reported a pre-tax profit of HKD 19,259 thousand for the six months ended September 30, 2024, compared to HKD 20,868 thousand for the same period in 2023, reflecting a decrease of 7.7%[23]. - The company recorded a revenue of HKD 201 million for the six months ended September 30, 2024, a decrease of 15.6% compared to HKD 237 million for the same period in 2023[37]. - The net loss for the current period was approximately HKD 630,000, significantly reduced from a net loss of HKD 13.1 million in the previous period[37]. - The group’s total tax expense for the period was HKD 2,393 thousand, compared to a tax benefit of HKD 3,584 thousand in the same period last year[26]. Revenue Breakdown - Revenue for the six months ended September 30, 2024, was HKD 200,076 thousand, a decrease of 15.6% compared to HKD 237,010 thousand for the same period in 2023[17]. - Revenue from non-surgical medical beauty services was HKD 170,722 thousand, down from HKD 176,335 thousand year-on-year, representing a decline of 3.5%[22]. - Revenue from skincare products significantly decreased to HKD 29,336 thousand from HKD 60,631 thousand, a drop of 51.6%[22]. - The revenue from mainland China dropped significantly to HKD 5,036 thousand from HKD 21,941 thousand, a decline of 77.0%[17]. Assets and Liabilities - Non-current assets as of September 30, 2024, totaled HKD 195.69 million, slightly down from HKD 196.88 million as of March 31, 2024[7]. - Current assets amounted to HKD 272.98 million, a decrease from HKD 282.56 million as of March 31, 2024[7]. - Current liabilities were HKD 253.94 million, down from HKD 277.98 million as of March 31, 2024[8]. - The total equity value as of September 30, 2024, was HKD 136.61 million, unchanged from HKD 136.76 million as of March 31, 2024[9]. - Trade receivables as of September 30, 2024, amounted to HKD 3,803,000, down from HKD 13,402,000 as of March 31, 2024[33]. - Trade payables as of September 30, 2024, totaled HKD 9,189,000, compared to HKD 10,561,000 as of March 31, 2024[34]. - The company's lease liabilities amounted to approximately HKD 107 million as of September 30, 2024[55]. - The debt-to-equity ratio was approximately 6.7% as of September 30, 2024, down from 9.1% on March 31, 2024[60]. Operational Efficiency - The company has implemented targeted advertising strategies and improved internal management systems to enhance operational efficiency and reduce costs[36]. - Other net expenses decreased by approximately HKD 28.1 million or 35.3% to about HKD 51.4 million, attributed to improved operational efficiency and effective cost control[48]. - Employee costs decreased by approximately HKD 17.3 million or 18.9% to about HKD 74.2 million, with the number of employees reduced from 413 to 242[45]. - Property rental and related expenses decreased by approximately HKD 6 million or 17.2% to about HKD 28.9 million, primarily due to the closure of retail stores[46]. Corporate Governance - The company has adhered to all applicable corporate governance rules during the six-month period ended September 30, 2024, with one exception regarding the separation of the roles of Chairman and CEO[71]. - The Audit Committee, consisting of three independent non-executive directors, has reviewed the financial information for the six months ended September 30, 2024[74]. - The company believes that maintaining high standards of corporate governance is essential for managing business risks and enhancing transparency[71]. Future Outlook - The company plans to introduce new therapies and products to increase brand awareness and market coverage, responding to changing market demands[67]. - The company has adopted a cautious and prudent operational strategy to adapt to structural changes in the consumer market[66]. - The economic environment remains challenging, impacting market sentiment and business operations[36]. - The company has maintained a low debt ratio over the years, ensuring a stable financial position despite a relatively high interest rate environment[66]. Dividends and Shareholder Returns - The board of directors did not declare an interim dividend for the six months ended September 30, 2024, consistent with the previous year[1]. - The group did not declare any interim dividend for the six months ended September 30, 2024, consistent with the same period in 2023[27]. - The company has not engaged in any purchases, sales, or redemptions of its own shares during the six-month period ended September 30, 2024[68]. Employment and Workforce - As of September 30, 2024, the group employed 242 employees, a decrease from 413 employees as of September 30, 2023[64]. - Employee costs for the six months ended September 30, 2024, were approximately HKD 74.2 million, down from HKD 91.5 million for the same period in 2023[64]. Business Operations - The company operates three CosMax+ medical beauty centers in Hong Kong, enhancing its customer base and service offerings[38]. - The XOVĒ skincare product line, developed by a Swiss research team, is marketed through various platforms, including retail stores and e-commerce, despite a challenging retail environment[40].

Miricor Enterprises Holdings Limited 卓珈控股集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1827） 摘 要 – 1 – 收 益 4 494,260 463,117 除 稅 前 虧 損 5 (11,780) (23,867) 其 他 全 面 虧 損 年 度 全 面 虧 損 總 額 (13,950) (20,557) 卓 珈 控 股 集 團 有 限 公 司（「本 公 司」）董 事 會（「董 事 會」）欣 然 宣 佈 本 公 司 及 其 附 屬 公 司（統 稱 為「本 集 團」）截 至2024年3月31日 止 年 度 的 綜 合 業 績，連 同 去 年 同 期 的 比 較 經 審 核 數 據 如 下： – 2 – | --- | --- | --- | --- | |---------------------------------------------------------|---------|---------------------|-------------------| | | | | | | | 附 註 | 2024 千 港 元 | 2023 千 ...

Financial Performance - For the six months ended September 30, 2023, the total revenue was HK$240,086,000, a decrease from HK$243,482,000 as of March 31, 2023[8]. - The company reported a loss for the period of HK$13,050,000, compared to a profit of HK$3,411,000 in the previous period[10]. - The Group's revenue for the six months ended September 30, 2023, was approximately HK$237.0 million, an increase of approximately HK$25.1 million or 11.8% compared to HK$211.9 million for the same period in 2022[35]. - Loss attributable to the owners of the Company was approximately HK$13.1 million for the six months ended September 30, 2023, compared to a profit of approximately HK$3.4 million for the same period in 2022[35]. - Total comprehensive loss for the period was HK$13.2 million, compared to a comprehensive income of HK$3.3 million for the same period in 2022[36]. - The Group reported a loss before tax of HK$13,050,000 for the six months ended September 30, 2023, compared to a profit of HK$3,411,000 in the same period of 2022[122]. - The Group recorded a loss of HK$13.1 million for the period, compared to a profit of HK$3.4 million in the previous period[159]. Revenue Breakdown - Revenue from contracts with customers for the six months ended September 30, 2023, was HK$237,010,000, an increase of 11.8% from HK$211,900,000 in the same period of 2022[112]. - Revenue from Hong Kong was HK$215,069,000, up 5.9% from HK$203,124,000 year-on-year[73]. - Revenue from Mainland China surged to HK$21,941,000, a significant increase of 149.5% compared to HK$8,776,000 in the previous year[73]. - Treatment services revenue increased to HK$176,335,000, up from HK$153,569,000, representing a growth of 14.8% year-over-year[113]. - Skincare products revenue rose to HK$60,631,000, compared to HK$58,120,000, marking a 4.3% increase[113]. Assets and Liabilities - Total current assets as of September 30, 2023, were HK$272,953,000, slightly down from HK$273,329,000 as of March 31, 2023[8]. - The total non-current assets decreased to HK$240,086,000 from HK$243,482,000[8]. - The company’s total equity as of September 30, 2023, was HK$137,525,000, a decrease from HK$150,713,000 as of April 1, 2023[10]. - Net current liabilities increased to HK$24.8 million as of September 30, 2023, compared to HK$13.2 million as of March 31, 2023[38]. - Total assets less current liabilities amounted to HK$215.3 million as of September 30, 2023, down from HK$230.2 million as of March 31, 2023[38]. - Non-current liabilities totaled HK$77.8 million as of September 30, 2023, slightly decreased from HK$79.5 million as of March 31, 2023[38]. - Net assets decreased to HK$137.5 million as of September 30, 2023, from HK$150.7 million as of March 31, 2023[38]. Cash Flow and Investments - Net cash flows from operating activities for the six months ended September 30, 2023, were HK$24,581,000, a decrease from HK$54,118,000 in the same period last year[11]. - Net cash flows used in investing activities amounted to HK$25,820,000, compared to HK$19,426,000 in the previous year, indicating increased investment outflows[11]. - Cash and cash equivalents were reported at HK$97,784,000, down from HK$116,911,000[8]. - Cash and cash equivalents at the end of the period were HK$77,329,000, down from HK$80,802,000 at the end of the previous period[11]. - The total cash and cash equivalents at the beginning of the period were HK$105,610,000, showing a decrease in liquidity during the reporting period[11]. Operational Focus and Strategy - The company plans to focus on market expansion and new product development in the upcoming quarters[5]. - The Group expanded its CosMax+ operation scale by approximately 4,000 square feet to enhance customer experience[157]. - The Group's marketing expenses increased due to the expansion into the Mainland market, impacting overall profitability[161]. - The Group's two brands, CosMax+ and VITAE, are positioned to leverage synergies and enhance market coverage[162]. - The Group plans to adopt a cautiously optimistic approach in the second half of the year, focusing on improving management and operational efficiency[190]. Compliance and Governance - The interim financial information has been prepared in accordance with Hong Kong Accounting Standards, ensuring compliance with local regulations[12]. - The Group has adopted new and revised Hong Kong Financial Reporting Standards (HKFRSs) effective from April 1, 2023, which did not impact the interim financial information but will affect annual disclosures[80]. - The Group's accounting policies remain consistent with those applied in the previous fiscal year, with no significant impact from recent amendments[87]. - The Group did not experience any material impact on liquidity from exchange rate fluctuations and did not engage in hedging transactions during the review period[200]. Shareholder Information - The Board did not declare an interim dividend for the six months ended September 30, 2023, consistent with the previous year[35]. - The average number of ordinary shares issued during the period was 400,000,000, consistent with the previous period[144].

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，並明確表示概不就 因本公告全部或任何部分內容而產生或因倚賴該等內容而引致之任何損 失承擔任何責任。 Miricor Enterprises Holdings Limited 卓 珈 控 股 集 團 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1827） 截 至2023年9月30日 止 六 個 月 之 中 期 業 績 公 告 摘要 • 截 至2023年9月30日 止 六 個 月，本 集 團 的 收 益 約 為 二 億 三 千 七 百 萬 港 元，與 截 至2022年9月30日 止 六 個 月 約 二 億 一 千 一 百 九 十 萬 港 元 相比增加約二千五百一十萬港元或11.8%。 • 截 至2023年9月30日 止 六 個 月， 本 公 司 擁 有 人 應 佔 虧 損 約 為 一 千 三 百 一 十 萬 港 元（ 截 至2022年9月30日 止 六 個 月： 溢 利 約 三百四十萬港元）。 • 董事會不宣派截至2023年9月30日止六個月中期股息（截至2022年9月 30日止六個月： ...

Financial Performance - The Group's revenue for FY2023 reached a record high of HK$463.1 million, showing significant growth in customer numbers and revenue across all treatment centers and skincare retail stores [45]. - Despite the growth, the Group recorded a net loss of approximately HK$20.5 million for FY2023, compared to a net profit of approximately HK$25.4 million in the previous year, primarily due to increased marketing and operational expenses in Mainland China [49]. - The financial condition remains robust with significant revenue growth and ample cash reserves to support future development despite increased marketing expenses [79]. - The Group's financial position remained healthy, with a significant increase in revenue compared to the Previous Year, supported by ample cash for future development [110]. - Marketing expenses and other expenses increased during the year due to the development of the Mainland market [110]. Brand Development and Market Expansion - The core brand CosMax+ maintained a leading position in the high-end medical aesthetic industry, contributing to the overall revenue growth [45]. - The VITAE treatment centers demonstrated increasing revenue and profit potential, indicating a positive trend for the brand [45]. - The high-end skincare brand XOVE launched in Mainland China stores of Sephora, ranking among the best-selling beauty brands within the first three months [49]. - The Group anticipates that the entry into the Mainland China market will yield positive contributions to revenue and profit as economies of scale are achieved in the future [49]. - The Group aims to leverage the growth of its three brands—CosMax+, VITAE, and XOVE—to capitalize on economic recovery in 2024 [45]. - The Group's proactive planning for future growth includes enhancing brand awareness and market presence in Mainland China through partnerships with established retailers like Sephora [49]. - The high-end skincare brand XOVE officially entered the Chinese market through Sephora, which has over 360 stores in mainland China, enhancing brand visibility [50]. - XOVE's sales performance in the first three months at Sephora was encouraging, ranking among the top beauty brands in the region [50]. Operational Efficiency and Cost Management - Staff costs increased by approximately HK$52.2 million, or 41.7%, from approximately HK$125.3 million to approximately HK$177.5 million, attributed to the opening of 6 new retail stores [57]. - Depreciation related to property, plant, and equipment rose by approximately HK$19.6 million, or 79.0%, from approximately HK$24.8 million to approximately HK$44.4 million [58]. - Other net expenses increased from approximately HK$103.2 million to approximately HK$135.5 million, mainly due to expanded operations and increased advertising and promotional expenses [62]. - The company aims to optimize operations and management to maintain a competitive advantage and improve revenue and profit for shareholders [53]. - The Group implemented standard operating procedures and a clear division of labor at its medical aesthetic centers to enhance operational efficiency and service quality [170]. Governance and Compliance - The Board is committed to high standards of corporate governance to manage business risks and enhance transparency [91]. - The Company has complied with the Listing Rules, maintaining at least 3 independent non-executive directors, representing over one-third of the Board [96]. - The Company has adopted the Model Code for Securities Transactions, ensuring all directors confirmed compliance during the review year [95]. - The Group's directors acknowledged their responsibility for preparing all information in the financial statements for the year ended 31 March 2023 [154]. - The Board oversees risk management and internal control systems, aiming to identify and mitigate risks to achieve business objectives [182]. - The Group's internal control processes are reviewed periodically to ensure effectiveness and compliance with applicable laws and regulations [184]. - The Group strictly complies with the Prevention of Bribery Ordinance, with no legal cases regarding corrupt practices reported during the reporting period [149]. - An anti-corruption policy has been established to ensure integrity and ethical conduct in business operations, with specific behavioral guidelines for employees and partners [189]. - The Group has adopted a whistleblowing policy to promote compliance and ethical behavior across its operations [188]. Community Engagement and Social Responsibility - The Company is committed to community investment and social responsibility initiatives [106]. - The Group made charitable donations amounting to HK$129,000 during the reporting period, a significant increase from HK$29,000 in 2022 [156]. - The Group's community investment policy aims to establish a comprehensive system to oversee activities related to community investment, fostering long-term relationships with stakeholders [155]. - The Group's charitable contributions reflect its commitment to community development and support for the underprivileged [156]. Research and Development - The company plans to continue investing in R&D and new projects to enhance customer experience and explore potential business opportunities in both Hong Kong and mainland China [51]. - The research and development department is responsible for managing intellectual property rights, including acquisition, modification, and monitoring across all units [172]. - The Group conducts regular training on intellectual property rights to enhance employee awareness and compliance [172]. Remuneration and Management Structure - The Remuneration Committee held one meeting during the year ended 31 March 2023, assessing the performance of executive Directors and making recommendations regarding remuneration packages [139]. - The Group's remuneration policy for directors is reviewed annually, considering experience, responsibilities, and time commitment [141]. - The current management structure allows the same individual to serve as both Chairperson and CEO, which the Board believes is in the best interest of the Company [93].

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，並明確表示概不就 因本公告全部或任何部分內容而產生或因倚賴該等內容而引致之任何損 失承擔任何責任。 Miricor Enterprises Holdings Limited 卓 珈 控 股 集 團 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1827） 截 至2023年3月31日 止 年 度 之 年 度 業 績 公 告 摘要 • 截至2023年3月31日止年度，本集團的收益約為463.1百萬港元，較截 至2022年3月31日 止 年 度 的 約363.9百 萬 港 元 增 加 約99.2百 萬 港 元 或 27.3%。 • 截至2023年3月31日止年度，本公司擁有人應佔虧損約為20.5百萬港元， 而截至2022年3月31日止年度則錄得溢利約25.4百萬港元。 • 截 至2023年3月31日 止 年 度，每 股 基 本 虧 損 為5.13港 仙（2022年：每 股 盈利6.35港仙）。 • 董事會並不建議或宣派截至2023年3月31日止年度的任何股息。 ...

Financial Performance - The Group's revenue for the six months ended September 30, 2022, was approximately HK$211.9 million, an increase of approximately HK$12.2 million or 6.1% compared to HK$199.7 million for the same period in 2021[11]. - Profit attributable to the owners of the Company was approximately HK$3.4 million for the six months ended September 30, 2022, a significant decrease from approximately HK$53.9 million for the same period in 2021[11]. - Total comprehensive income for the period was HK$3.3 million, down from HK$54.0 million in the previous year[13]. - Basic and diluted earnings per share attributable to ordinary equity holders of the Company were HK$0.85 cents, a decrease from HK$13.48 cents in the same period last year[13]. - The Group reported a profit before tax of HK$4.3 million, a decrease from HK$60.6 million for the same period in 2021[13]. - The Group received government subsidies of HK$6,678,000 during the six months ended September 30, 2022, primarily under the Employment Support Scheme[79]. - The total tax charge for the period was HK$900,000, a decrease of 86.5% compared to HK$6,648,000 in the same period last year[89]. - Profit for the period was approximately HK$3.4 million, down by HK$50.5 million, or 94%, from HK$53.9 million in the previous period[123][126]. Revenue Breakdown - Revenue from external customers for the six months ended September 30, 2022, was HK$211,900,000, an increase of 6.6% from HK$199,730,000 in 2021[51]. - Revenue from treatment services decreased to HK$153,569,000, down 13.0% from HK$176,594,000 in the previous year[62]. - Revenue from skin care products significantly increased to HK$58,120,000, up 154.5% from HK$22,775,000 in 2021[62]. - The geographical breakdown of revenue showed HK$203,124,000 from Hong Kong and HK$8,776,000 from Mainland China for the six months ended September 30, 2022[51]. Expenses and Costs - The cost of inventories and consumables was HK$18.99 million for the period[13]. - Staff costs amounted to HK$13.3 million during the six months ended September 30, 2022[13]. - Property rentals and related expenses totaled HK$82.4 million, an increase from HK$56.4 million in the previous year[13]. - Depreciation charge for property, plant and equipment amounted to approximately HK$21.7 million, representing 10.2% of total revenue for the Period Under Review, compared to approximately HK$7.3 million or 3.7% for the Previous Period[141]. - Other expenses, net increased by approximately HK$10.0 million or 22.8%, from approximately HK$43.9 million for the Previous Period to approximately HK$53.9 million for the Period Under Review[141]. Assets and Liabilities - Total non-current assets decreased from HK$276,708,000 to HK$264,837,000, a decline of approximately 4.0%[16]. - Current assets increased from HK$200,106,000 to HK$235,951,000, representing a growth of about 17.9%[16]. - Total current liabilities increased from HK$202,994,000 to HK$235,656,000, reflecting a rise of about 16.0%[16]. - Net assets increased from HK$171,270,000 to HK$174,579,000, a growth of approximately 1.8%[19]. - Cash and cash equivalents increased from HK$65,680,000 to HK$80,802,000, a rise of about 22.9%[16]. - Inventories increased from HK$37,969,000 to HK$45,160,000, representing a growth of approximately 19.0%[16]. - Lease liabilities decreased from HK$89,587,000 to HK$76,877,000, a reduction of approximately 14.2%[19]. Operational Insights - The Group is primarily engaged in providing medical aesthetic services and selling skin care products[30]. - The Group's reportable operating segment is the non-surgical medical aesthetic services segment, primarily engaged in providing medical aesthetic services and selling skin care products in Hong Kong and Mainland China[45]. - The Group's strategy focuses on customer needs, aiming to enhance brand reputation and service quality in the high-end medical aesthetics sector[164]. - The Group aims to maintain high service quality and competitiveness by continuing to invest in staff training[164]. - The Group will keep optimizing the environment and services of its medical aesthetic and beauty treatment centers to reinforce its market position[163]. Future Outlook - The Group is cautiously optimistic about its prospects as the pandemic stabilizes and the government eases anti-pandemic measures[163]. - The Group plans to launch new XOVE product lines in 2023 and has entered into an agreement with an international beauty retail group to establish a presence in over 300 offline retail outlets in Mainland China[169]. - The Group expects the operating environment to improve as the number of visitors to Hong Kong is anticipated to increase steadily[170]. Shareholding and Governance - As of September 30, 2022, Ms. Lai Ka Yee Gigi holds 275,000,000 shares, representing 68.75% of the company's issued share capital[189]. - Mrs. Gigi Ma is deemed to be interested in 100% of the issued share capital of Sunny Bright, due to her spouse's ownership of the remaining shares[198]. - No other directors or chief executives registered any interests or short positions in the shares, underlying shares, or debentures of the company or its associated corporations as of September 30, 2022[199].

Financial Performance - The Group achieved record-high revenue of over HK$360 million for FY2022 despite a nearly three-month business suspension due to COVID-19[44]. - The profit margin for FY2022 was lower than previous years due to the impact of the pandemic on operations[44]. - The Group's revenue for the year ended 31 March 2022 increased by approximately HK$235.0 million, or 182.3%, reaching HK$363.9 million compared to HK$128.9 million in the previous year[56][69]. - The Group returned to profitability with a profit of approximately HK$25.4 million for the year, compared to a net loss of approximately HK$12.7 million in the previous year[56][58]. - Total revenue for the year was approximately HK$363.9 million, an increase of approximately HK$235.5 million or 182.3% compared to HK$128.9 million in the previous year[70]. - Revenue from treatment services amounted to approximately HK$289.1 million, representing 79.4% of total revenue, an increase of approximately HK$180.7 million or 166.7% from HK$108.4 million in the previous year[72]. - Revenue from skin care products reached approximately HK$74.3 million, accounting for 20.5% of total revenue, an increase of approximately HK$54.4 million or 273.4% from HK$19.9 million in the previous year[77]. - Revenue from prescription and dispensing of medical products remained stable at approximately HK$0.5 million, representing 0.1% of total revenue, compared to 0.4% in the previous year[78]. Business Expansion and Development - New medical aesthetic centres and retail stores were opened, contributing to higher rental expenses and depreciation compared to the previous year[49]. - The ongoing COVID-19 pandemic affected the revenue and profit potential of new stores, which were not fully realized in FY2022[49]. - The Group plans to continue investing in research and development to introduce new treatment services and products in FY2023[51]. - The expansion of three brands is expected to enhance overall business performance and achieve stronger economies of scale[49]. - The Group aims to explore local and overseas business opportunities to diversify its presence and customer base[51]. - The Group continues to invest in research and development, introducing new treatment services and products to enhance business growth[56]. - The launch of the new beauty brand VITAE focuses on the principle of "inner health realises external beauty," with three treatment centres currently operating in prime locations[63][65]. - XOVĒ, a premium skincare product line developed by Swiss specialists, is marketed through five retail stores in first-tier shopping malls and online platforms[64][66]. - The medical aesthetics industry is experiencing rapid growth, and the Group aims to expand its business and retail network to reach a wider consumer base[64][66]. - The Group's effective market promotions have significantly increased public awareness of its brands, leading to higher revenue from both treatment services and skincare product sales[69]. - The Group expanded its CosMax+ medical aesthetic centres, increasing the total service floor area to serve more customers and enhance service quality[138][141]. - The Group launched a new treatment brand, VITAE, and currently operates three treatment centres, expecting high growth in the coming years[146]. - The skincare brand XOVĒ introduced five retail stores in first-tier shopping malls in Hong Kong and is promoting products online in Mainland China and Hong Kong[146]. - The Group plans to deepen its presence in Mainland China and explore business opportunities in both Mainland China and Hong Kong[146]. - The demand for medical aesthetic services is expected to grow at a higher rate in the coming years, supported by the steady recovery of the local economy post-COVID-19[149]. - The Group is actively exploring local and overseas business opportunities to expand its network and retail stores, aiming for a wider and more diversified customer base[152]. Operational and Financial Management - Regular reviews of operational strategies will be conducted to maintain reasonable profit growth while capitalizing on industry expansion[44]. - The management is committed to maximizing returns for shareholders while ensuring steady business growth[51]. - Staff costs increased by approximately HK$54.4 million or 76.7%, from approximately HK$70.9 million in the previous year to approximately HK$125.3 million due to the opening of new treatment centres and retail stores[89]. - Property rentals and related expenses increased by approximately HK$27.4 million or 129.2%, from approximately HK$21.2 million in the previous year to HK$48.6 million due to new treatment centres and retail stores[90]. - Cost of inventories and consumables amounted to approximately HK$29.0 million, representing 8.0% of total revenue, compared to 10.1% in the previous year[80]. - Other income decreased by approximately HK$11.5 million or 89.8%, from approximately HK$12.8 million in the previous year to approximately HK$1.3 million due to reduced government subsidies[79]. - Credit card commission increased by 139.8% to approximately HK$8.7 million in 2022 from HK$3.6 million in 2021[96]. - Advertising and promotion expenses surged by 288.8% to approximately HK$47.8 million in 2022 from HK$12.3 million in 2021, primarily due to new promotional campaigns[96]. - Net cash flows from operating activities rose by approximately HK$19.5 million to HK$44.0 million in 2022 compared to the previous year[118]. - Finance costs increased by approximately HK$1.2 million to HK$3.0 million in 2022 from HK$1.8 million in 2021[98]. - Income tax expenses amounted to approximately HK$5.8 million for the Year Under Review, compared to a tax credit of HK$3.6 million in the previous year[99]. - The Group's cash and cash equivalents decreased to approximately HK$65.7 million as of March 31, 2022, from HK$161.8 million in 2021[109]. - Net cash flows used in investing activities were approximately HK$97.5 million, primarily due to capital expenditures for new treatment centres and retail stores[118]. - Lease liabilities increased to approximately HK$127.6 million as of March 31, 2022, compared to HK$42.5 million in 2021[118]. - The Board did not recommend or declare any dividend for the Year Under Review, consistent with the previous year[108]. - The total number of employees increased to 366 as of March 31, 2022, up from 195 in 2021, with staff costs amounting to approximately HK$125.3 million, compared to HK$70.9 million in the previous year[135][139]. - The Group did not have any interest-bearing bank borrowings as of March 31, 2022, maintaining a gearing ratio of zero[125][129]. Corporate Governance and Management - The Company has complied with all applicable code provisions of the Corporate Governance Code during the year ended March 31, 2022, except for one deviation regarding the separation of roles of chairman and chief executive officer[189]. - The current management structure has the same individual serving as both chairlady and chief executive officer, which the Board believes is in the best interest of the Group for effective management[190]. - Amendments to the Corporate Governance Code took effect on January 1, 2022, and the Board will continue to enhance corporate governance practices to ensure compliance with the revised code[191]. - The Company has adopted the Model Code for Securities Transactions for Directors, and all Directors confirmed compliance with the required standards during the review year[196]. - The company has complied with Rule 3.10 of the Listing Rules by appointing at least three independent non-executive directors, representing more than one-third of the Board[198]. - At least one of the independent non-executive directors possesses appropriate professional qualifications or expertise in accounting or related financial management[198]. - All independent non-executive directors meet the independence guidelines set out in Rule 3.13 of the Listing Rules[199]. - Each independent non-executive director provides an annual confirmation of independence as required by the Listing Rules[199]. - The company believes that all independent non-executive directors are independent according to the relevant guidelines of the Listing Rules[199]. Management Team Background - Dr. Lam Ping Yan joined the Group as an executive Director in July 2020, bringing extensive public health experience[167]. - Dr. Lam has served in various significant roles, including Deputy Director of Health and Chief Port Health Officer, contributing to public health policy in Hong Kong[167]. - He has been involved in the prevention and control of diseases such as SARS and swine flu during his tenure as a public officer[167]. - Dr. Lam has been an Honorary Professor at the Chinese University of Hong Kong since 2004, indicating a strong academic background[167]. - He received the Silver Bauhinia Star in 2012 for his contributions to public health in Hong Kong[167]. - Dr. Lam holds a Bachelor of Medicine and Bachelor of Surgery from the University of Hong Kong and a Master of Medicine in Public Health from the National University of Singapore[169]. - He has served as a temporary advisor to the World Health Organization on traditional medicine and non-communicable diseases[167]. - Dr. Lam was awarded the Cross-Strait Contribution Award for Chinese in Tobacco Control in 2012, highlighting his commitment to health initiatives[167]. - He has held leadership positions in various health committees, including the Cancer Coordinating Committee and the Working Group on Diet and Physical Activity[167]. - Dr. Lam is a fellow of the Hong Kong Academy of Medicine and a registered specialist in community medicine, underscoring his professional qualifications[169]. - Mr. Cheng has over 30 years of experience in auditing, finance, and business management[174]. - Mr. Li is the chief financial officer of Crystal International Group Limited, responsible for finance matters since November 2018[178]. - Mr. Li previously served as vice president of operational finance at Esprit Holdings Limited, overseeing finance and operational matters[178]. - Mr. Li was a managing director at COFCO Agricultural Industrial Investment Fund Management Company Limited, managing overall business and investment matters[178]. - Mr. Li was the chief financial officer of Zhuhai Dahengqin Company Limited, responsible for finance, investment, and fund management from August 2013 to October 2018[178]. - Mr. Cheng has been an independent non-executive director of multiple companies listed on the Stock Exchange, including CSI Properties Limited and Top Spring International Holdings Limited[175]. - Mr. Cheng has been the sole proprietor of Erik Cheng & Co., Certified Public Accountants in Hong Kong since 1999[174]. - Mr. Cheng graduated with a Bachelor's degree in Accounting from the University of Kent and a Master's degree in Accounting and Finance from the London School of Economics[174]. - Mr. Cheng was conferred the distinction of "Chevalier de l'Ordre National du Mérite" by the French Government in May 2015[175]. - Mr. Cheng has served as an independent non-executive director for various companies, including those that have been privatized or delisted[175]. - Mr. Li has extensive experience in accounting, finance, and investment management, serving as CFO of Crystal International Group since November 2018[179]. - He held various senior financial roles in publicly listed companies, including Vice President of Finance at Esprit Holdings and Vice President at COFCO Corporation[179]. - Mr. Li has been involved in asset management and investment work, including as Managing Director at COFCO Agricultural Fund Management[179]. - He graduated with a Bachelor of Commerce degree with distinction from the University of Toronto in November 1995 and an MBA from Schulich School of Business in November 1996[184]. - Mr. Li has served on multiple committees and associations, including as Chairman of the Institute of Public Accountants – Hong Kong Branch since 2019[182]. - He was a member of the Finance Committee of the Hong Kong Housing Authority from 2010 to 2012[183]. - Mr. Li has been actively involved in investor relations and public awareness initiatives within the financial community[182]. - He has held leadership positions in various professional organizations, enhancing his influence in the finance sector[183]. - His career spans over two decades, focusing on financial management and strategic investment across different industries[179]. - Mr. Li's diverse background equips him with a comprehensive understanding of market trends and corporate finance strategies[179].