LUK HING ENT(08052)

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陆庆娱乐(08052) - 2023 - 年度财报
2024-04-30 13:46
Financial Performance - The group reported a significant recovery in revenue for the year ending December 31, 2023, compared to the previous year, as the economy gradually revived post-pandemic [10]. - Total revenue increased by 63.3% from approximately HKD 58.6 million in 2022 to approximately HKD 95.7 million in 2023, attributed to the recovery of restaurant performance post-COVID-19 [22]. - The company recorded a profit attributable to owners of approximately HKD 14.9 million in 2023, a significant increase from a loss of approximately HKD 32.1 million in 2022 [26]. - Cost of goods sold rose by 47.0% from approximately HKD 18.3 million in 2022 to approximately HKD 26.9 million in 2023, consistent with revenue growth [24]. - Employee costs increased by 10.9% from approximately HKD 32.2 million in 2022 to approximately HKD 35.7 million in 2023, reflecting a rebound in sales revenue [24]. Business Strategy and Development - The restaurant business has returned to pre-pandemic revenue levels, driven by increased local consumption and a rise in tourist numbers following the full resumption of cross-border travel on February 6, 2023 [16]. - The group plans to adopt a cautious approach towards business development in the restaurant sector for 2024, focusing on operational efficiency improvements [12]. - The management is exploring investment opportunities in the restaurant and/or new business sectors to diversify revenue sources [12]. - The group continues to regularly review its existing operations to enhance business performance and financial health [12]. - The restaurant business remains a stable source of income for the group, contributing positively to overall financial performance [16]. Capital and Financing - The group completed a share consolidation and rights issue during the year to enhance its working capital and improve financial conditions [12]. - The company successfully raised approximately HKD 6.9 million from the placement of 450,880,000 new shares on March 17, 2023 [17]. - The company plans to raise up to approximately HKD 43.9 million through a rights issue based on a one-for-one share basis announced on April 6, 2023 [17]. - The actual net proceeds from the rights issue completed on August 18, 2023, were approximately HKD 40.9 million, fully utilized according to the intended purposes [46]. - The company is in discussions with banks to renew financing and believes that existing bank financing will be renewed upon expiration [49]. Corporate Governance - The company has adopted and complied with the corporate governance code as per GEM listing rules, ensuring transparency and accountability to shareholders [59]. - The board consists of 4 directors, including 1 executive director and 3 independent non-executive directors, with recent changes in board composition noted [63]. - The company emphasizes the importance of board diversity, which has been in place since November 2016, to enhance performance and achieve strategic goals [66]. - The board is responsible for leading and monitoring the company, including business strategy formulation and performance oversight [61]. - The company has established a policy for board diversity, considering various factors such as gender, age, and cultural background in director selection [66]. Risk Management and Internal Control - The board is responsible for the final oversight of the group's risk management and internal control systems, ensuring efficient use of resources to achieve business objectives [96]. - A risk management team, composed of executive directors and management with over ten years of experience, conducts quarterly risk identification and analysis [98]. - The internal control system aims to ensure operational efficiency, reliability of financial reporting, and compliance with applicable laws and regulations [99]. - The company has engaged external consultants to review the effectiveness of its internal control system, with corrective measures implemented for identified weaknesses [99]. - The board has reviewed the effectiveness of the risk management and internal control systems and considers them adequate and effective [101]. Environmental, Social, and Governance (ESG) - The company aims to become a leading music entertainment and restaurant operator in the Greater China region, providing reasonable returns to shareholders while being socially and environmentally responsible [118]. - The company has established a stakeholder engagement and materiality assessment process to identify significant environmental, social, and governance issues for the year [116]. - The environmental, social, and governance report has been reviewed and approved by the board, ensuring compliance with principles of materiality, quantification, balance, and consistency [116]. - The company emphasizes its commitment to reducing environmental impact and providing a safe working environment for employees and customers [119]. - The board is responsible for identifying and managing environmental, social, and governance (ESG) risks to ensure stable business development [122]. Employee Relations and Workplace Safety - The group employed a total of 87 employees at the end of the reporting period, consisting of 70 full-time and 17 part-time employees [174]. - Employee turnover rate significantly decreased to 19.28% in 2023 from 79.75% in 2022, attributed to reduced impact from the COVID-19 pandemic [185]. - The group recorded 3 injury cases during the reporting period, all classified as minor injuries, with 55 workdays lost due to these injuries [193]. - The group maintained compliance with labor laws, providing statutory benefits including mandatory provident fund coverage and workers' compensation [190]. - The group aims to achieve zero work-related fatalities in the coming year through continuous training and monitoring of health and safety practices [193].
陆庆娱乐(08052) - 2023 - 年度业绩
2024-03-28 14:20
Financial Performance - The company's revenue for the year ended December 31, 2023, was HKD 95,747,000, a significant increase from HKD 58,590,000 for the year ended December 31, 2022, representing a growth of approximately 63.3%[11] - The net profit for the year was HKD 15,907,000, compared to a net loss of HKD 48,935,000 in the previous year, indicating a turnaround in financial performance[13] - The total comprehensive income for the year was HKD 18,288,000, compared to a comprehensive loss of HKD 46,801,000 in the previous year[13] - Basic earnings per share for the year were HKD 4.06, a significant recovery from a loss of HKD 14.01 per share in the previous year[13] - The company's profit before tax for the year ended December 31, 2023, was HKD 14,899,000, compared to a loss of HKD 32,093,000 for the year ended December 31, 2022[51] - The group generated other income of HKD 6,046,000 for the year ended December 31, 2023, compared to HKD 4,596,000 in 2022, representing an increase of about 31.5%[42] - The company recorded a profit attributable to owners of approximately HKD 14.9 million in 2023, a significant increase from a loss of approximately HKD 32.1 million in 2022[82] Operational Developments - The company operates two restaurants in Hong Kong, "HEXA" and "SIXA," which have returned to pre-pandemic levels following the lifting of COVID-19 restrictions[6] - The restaurant business has seen a recovery in sales, returning to pre-pandemic revenue levels due to increased local consumption and tourist numbers[73] - The company has ceased operations at CUBIC SPACE+ due to disputes with property owners, impacting revenue streams[66] - The management is exploring investment opportunities in the restaurant and/or new business sectors to expand revenue sources[7] - The company continues to operate primarily in the food and entertainment sectors, with no major changes in business nature during the year[19] Financial Position and Assets - The company's total assets decreased to HKD 22,949,000 from HKD 41,602,000, indicating a need for strategic asset management[15] - As of December 31, 2023, the company's non-current liabilities decreased to 1,840 thousand HKD from 16,258 thousand HKD in 2022, primarily due to a reduction in payable non-controlling interests[16] - The company's total equity as of December 31, 2023, was (22,042) thousand HKD, a significant improvement from (107,718) thousand HKD in 2022, indicating a recovery in financial health[16] - Non-current assets located in Hong Kong decreased from HKD 30,581,000 in 2022 to HKD 14,541,000 in 2023, a decline of approximately 52%[36] - The total liabilities decreased significantly to HKD 19,316,000 in 2023 from HKD 101,352,000 in 2022, a reduction of about 81%[57] Capital Management - The company completed a share consolidation and rights issue during the year to enhance its working capital and improve its financial position[7] - The company's share capital increased to 54,826 thousand HKD in 2023 from 22,904 thousand HKD in 2022, reflecting a positive trend in capital raising efforts[16] - The company plans to raise up to approximately HKD 43.9 million through a rights issue based on a subscription ratio of 1 share for every 1 consolidated share[74] - The actual net proceeds from the rights issue completed on August 18, 2023, amounted to approximately HKD 40.9 million, fully utilized for the intended purposes by December 31, 2023[102] - The company successfully raised approximately HKD 6.9 million from the placement of 450,880,000 new shares on March 17, 2023[74] Challenges and Risks - The group reported a current liability exceeding current assets by approximately HKD 34,743,000 and total liabilities exceeding total assets by about HKD 22,042,000, indicating significant uncertainty regarding the ability to continue as a going concern[32] - Cash and cash equivalents were reported at approximately HKD 846,000, indicating liquidity challenges[69] - The independent auditor's report expressed significant uncertainty regarding the company's ability to continue as a going concern[68] - The company faces a legal claim from COD Resorts Limited for approximately HKD 85,982,000 due to alleged unpaid rent and related expenses[62] - Management is implementing tighter measures to improve operational cash flow and closely monitor other operating expenses[34] Governance and Compliance - The company has adopted and complied with the corporate governance code as per GEM listing rules, with some deviations noted[107] - The audit committee has critically reviewed the auditor's basis for a disclaimer of opinion and supports management's view on the group's ability to continue as a going concern[105] - The group’s consolidated financial statements for the year ended December 31, 2023, have been verified by the auditor, confirming consistency with the audited financial reports[111] Future Outlook - The company plans to maintain its focus on market expansion in Macau and Hong Kong, leveraging its established venues[115] - The company aims to strengthen its market position through potential mergers and acquisitions in the hospitality sector[115] - The management is exploring new product offerings and technological advancements to enhance customer experience in its venues[115]
陆庆娱乐(08052) - 2023 Q3 - 季度财报
2023-11-13 14:32
Revenue Performance - Revenue for Q3 2023 reached HKD 23,124,000, a 34.5% increase from HKD 17,176,000 in Q3 2022[3] - Total revenue for the nine months ended September 30, 2023, was HKD 70,409,000, up 83.5% from HKD 38,371,000 in the same period of 2022[3] - For the three months ended September 30, 2023, the company reported revenue of HKD 23,124,000, a 35.5% increase from HKD 17,092,000 in the same period of 2022[17] - For the nine months ended September 30, 2023, the company achieved revenue of HKD 70,409,000, representing an 84.5% increase compared to HKD 38,115,000 in the same period of 2022[17] - Sales of food and other products for the nine months ended September 30, 2023, amounted to HKD 64,240,000, up 89.9% from HKD 33,811,000 in the previous year[17] - Total revenue increased by 83.3% from approximately HKD 38.4 million in the first three quarters of 2022 to approximately HKD 70.4 million in the same period of 2023, attributed to the recovery of restaurant sales post-cross-border travel resumption[34] Income and Loss - The company reported a loss before tax of HKD 72,000 for Q3 2023, a significant improvement compared to a loss of HKD 28,140,000 in Q3 2022[3] - The net loss for the nine months ended September 30, 2023, was HKD 3,171,000, compared to a loss of HKD 57,379,000 in the same period of 2022, indicating a reduction in losses[4] - Basic earnings per share for Q3 2023 was HKD 0.02, compared to a loss per share of HKD 9.02 in Q3 2022[4] - The company experienced a total comprehensive loss of HKD 264,000 in Q3 2023, a significant reduction from HKD 26,346,000 in Q3 2022[4] - The total comprehensive loss for the nine months ended September 30, 2023, was HKD 1,794,000, down from HKD 55,737,000 in the same period of 2022[4] - The company reported a net loss attributable to owners of approximately HKD 3.7 million for the first three quarters of 2023, a significant improvement from a net loss of approximately HKD 41.7 million in the same period of 2022[38] Expenses and Costs - The cost of goods sold for Q3 2023 was HKD 6,653,000, an increase from HKD 5,152,000 in Q3 2022, reflecting a rise of 29.1%[3] - Cost of goods sold rose by 61.7% from approximately HKD 12.0 million in the first three quarters of 2022 to approximately HKD 19.4 million in 2023, consistent with revenue growth[36] - Employee costs increased by 14.9% from approximately HKD 23.5 million in the first three quarters of 2022 to approximately HKD 27.0 million in 2023, reflecting a return to normal levels as sales revenue rebounded[36] - Other operating expenses decreased by 44.9% from approximately HKD 18.7 million in the first three quarters of 2022 to approximately HKD 10.3 million in 2023, primarily due to the absence of certain write-off expenses recorded in the previous year[37] - Advertising and marketing expenses increased by 71.5% from approximately HKD 130,000 in the first three quarters of 2022 to approximately HKD 223,000 in 2023, driven by the recovery in sales revenue[36] - Property rental and related expenses decreased by 25.7% from approximately HKD 7.4 million in the first three quarters of 2022 to approximately HKD 5.5 million in 2023, due to the cessation of operations of CUBIC SPACE+[36] - Depreciation and amortization expenses decreased by 50.3% from approximately HKD 19.9 million in the first three quarters of 2022 to approximately HKD 9.9 million in 2023, mainly due to the termination of CUBIC SPACE+ operations[37] Financing and Fundraising - The company raised approximately HKD 6.9 million from a share placement completed on March 17, 2023, which was fully utilized to repay part of the outstanding convertible notes and loans[13] - The company plans to raise approximately HKD 40.9 million through a rights issue, with around HKD 20.4 million allocated to settle remaining debts from convertible notes and loans issued in June and July 2019[14] - A rights issue was conducted to raise up to approximately HKD 43.9 million, with net proceeds of approximately HKD 40.9 million allocated for various financial obligations and operational funding[40] - The company is actively exploring fundraising activities and negotiating with banks to renew financing arrangements, believing that existing bank financing will be renewed upon maturity[13] Current Liabilities and Going Concern - As of September 30, 2023, the company reported net current liabilities of approximately HKD 69,209,000 and total liabilities of approximately HKD 61,808,000, indicating significant uncertainty regarding its ability to continue as a going concern[12] Shareholder Information - As of September 30, 2023, major shareholders, including Welmen Investment Co. Ltd and Yui Tak Investment Limited, each hold approximately 19.95% of the company's ordinary shares[52] - Perfect Succeed Limited holds 19.95% of the company's shares, totaling 109,350,000 shares[54] - Restoran Oversea (CST) Sdn Bhd owns 29.18% of the company's shares, amounting to 159,988,000 shares[54] Corporate Governance and Management Changes - The audit committee consists of three independent non-executive directors, overseeing financial reporting and internal controls[65] - The company has no known conflicts of interest involving its directors or controlling shareholders during the nine months ending September 30, 2023[63] - Mr. Mai Guokun appointed as independent non-executive director and member of the audit, remuneration, and nomination committees effective from September 4, 2023[66] - Ms. Wu Wenhung appointed as independent non-executive director and member of the audit, remuneration, and nomination committees effective from September 4, 2023[66] - Mr. Huang Songwei resigned as independent non-executive director and from all committee memberships effective from September 4, 2023[66] - Mr. Cai Yihan resigned as executive director and chairman of the board effective from October 3, 2023[67] - Mr. Ou Jiawei resigned as non-executive director and from committee memberships effective from October 3, 2023[67] - Mr. Ye Kaifan resigned as independent non-executive director and from committee memberships effective from October 3, 2023[67] - Mr. Patrick Ting appointed as member of the nomination committee effective from October 3, 2023[68] - Current board includes executive directors Mr. Cai Shaojie and Mr. Patrick Ting, and independent non-executive directors Ms. Xie Meiling, Mr. Mai Guokun, and Ms. Wu Wenhung[69] Business Outlook - The restaurant business in Hong Kong is expected to improve in the second half of 2023 due to the government's consumption voucher scheme, providing eligible individuals with HKD 2,000 or HKD 1,000[45] - Despite the end of COVID-19, the business environment remains challenging due to economic slowdown, weak consumer spending, and higher funding costs resulting from US Federal Reserve interest rate hikes[45] - The company remains optimistic about its operations and will continue to monitor costs while maximizing revenue through top-notch customer service[46] - The company is exploring other business opportunities to expand revenue sources to offset the adverse effects of economic difficulties[46] Regulatory and Compliance - The company has not recognized any significant impact from the adoption of new and revised Hong Kong Financial Reporting Standards effective from January 1, 2023, on its financial statements for the nine months ended September 30, 2023[12] - The company did not declare any dividends for the nine months ended September 30, 2023, consistent with the previous year[27] - The company has not purchased, sold, or redeemed any of its listed securities during the nine months ending September 30, 2023[59] - The company maintains a clear boundary between its operations and the restaurant business owned by its controlling shareholder in Macau, ensuring no direct competition[60] Legal Matters - The company is currently seeking legal advice regarding ongoing litigation involving claims of approximately HKD 8,346,000 related to rental and management fees[28][29]
陆庆娱乐(08052) - 2023 Q3 - 季度业绩
2023-11-13 14:28
香港交易及結算所有限公司及聯交所對本公告的內容概不負責,對其準確性或完整性亦不發表 任何聲明,並明確表示,概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的 任何損失承擔任何責任。 LUK HING ENTERTAINMENT GROUP HOLDINGS LIMITED 陸 慶 娛 樂 集 團 控 股 有 限 公 司 (於開曼群島註冊成立的有限公司) (股份代號:8052) 截至2023年9月30日止九個月的 第三季度業績公告 香港聯合交易所有限公司(「聯交所」)GEM的特色 GEM之定位,乃為中小型公司提供一個上市的市場,此等公司相比起其他在聯交所上市的公司 帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在風險,並應經過審慎周詳的 考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司,在GEM買賣之證券可能會較於聯交所主板買賣之證券承 受較大之市場波動風險,同時無法保證在GEM買賣之證券會有高流通量之市場。 本公告包括的資料乃遵照聯交所GEM證券上市規則(「GEM上市規則」)的規定而提供有關陸慶娛 樂集團控股有限公司(「本公司」)的資料。本公司董事(「董事」)願就本公告共同及個 ...
陆庆娱乐(08052) - 2023 - 年度业绩
2023-09-07 14:30
香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責,對其 準確性或完整性亦不發表任何聲明,並明確表示,概不對因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 LUK HING ENTERTAINMENT GROUP HOLDINGS LIMITED 陸 慶 娛 樂 集 團 控 股 有 限 公 司 (於開曼群島註冊成立的有限公司) (股份代號:8052) 補充公告 有關截至 年 月 日止年度的年報 2022 12 31 茲提述2022財年年報。除另有指明外,本公告所用詞彙與2022財年年報所界定者具有相同 涵義。 除2022財年年報所提供的資料外,董事會謹此補充有關截至2022年12月31日止年度(i)應收 貸款及(ii)貸款予一間聯營公司及應收一間聯營公司款項的減值虧損分別約3.3百萬港元及3.9 百萬港元的進一步資料。 應收貸款 I. 董事會謹此提供有關(i)已減值應收貸款的性質,及(ii)導致減值的背景及情況的進一 步資料如下: ...
陆庆娱乐(08052) - 2023 - 中期财报
2023-08-07 13:14
Revenue Performance - Revenue for the three months ended June 30, 2023, was HKD 23,479,000, representing an increase of 60.5% compared to HKD 14,624,000 for the same period in 2022[4] - Revenue for the six months ended June 30, 2023, was HKD 47,285,000, up 123.5% from HKD 21,195,000 in the same period last year[4] - Total revenue increased by 123.1% from approximately HKD 21.2 million in the first half of 2022 to approximately HKD 47.3 million in the same period of 2023, attributed to the recovery of restaurant performance post-border reopening[75] - Revenue from food and beverage sales for the six months ended June 30, 2023, was HKD 47.285 million, compared to HKD 21.023 million in 2022, indicating a growth of 125%[29] Net Loss and Financial Improvement - The net loss for the three months ended June 30, 2023, was HKD 3,221,000, a significant improvement from a loss of HKD 14,026,000 in the same period of 2022[6] - The net loss for the six months ended June 30, 2023, was HKD 3,099,000, compared to a loss of HKD 29,239,000 in the same period last year, indicating a reduction of 89.4%[6] - The company reported a net loss attributable to owners of approximately HKD 3.8 million in the first half of 2023, a significant improvement from a loss of approximately HKD 21.0 million in the same period of 2022[79] Assets and Liabilities - Total assets as of June 30, 2023, were HKD 14,908,000, an increase from HKD 11,021,000 as of December 31, 2022[7] - Current liabilities decreased to HKD 127,901,000 from HKD 133,062,000 as of December 31, 2022[9] - The company’s total liabilities as of June 30, 2023, were approximately HKD 112,993,000, indicating significant financial obligations[19] - The company’s lease liabilities as of June 30, 2023, were HKD 9,865,000, down from HKD 14,757,000 as of December 31, 2022[45] Cash Flow and Financing Activities - The company reported a net cash inflow from operating activities of HKD 4,422,000 for the six months ended June 30, 2023, compared to a net outflow of HKD 2,100,000 in the same period of 2022[13] - The company incurred a net cash outflow from financing activities of HKD 5,411,000 for the six months ended June 30, 2023, compared to an inflow of HKD 1,878,000 in the same period of 2022[13] - The company raised approximately HKD 6.9 million through the placement of 450,880,000 shares, completed on March 17, 2023, with about HKD 6.5 million used to repay convertible notes and loans[21] Share Capital and Equity - The company’s total issued ordinary shares increased to 81,536,000 as of June 30, 2023, from 22,904,000 as of January 1, 2023, due to the issuance of new shares[11] - The company’s equity attributable to owners decreased to HKD (67,592,000) as of June 30, 2023, from HKD (71,601,000) at the end of 2022[9] - The total equity attributable to owners decreased to HKD (102,372,000) as of June 30, 2023, from HKD (89,017,000) as of June 30, 2022, reflecting a decline of approximately 15%[11] Operational Efficiency and Cost Management - The company implemented tighter measures to enhance operational cash flow and closely monitor operating expenses[23] - Other operating expenses decreased by 32.3% from approximately HKD 9.6 million in the first half of 2022 to approximately HKD 6.5 million in the same period of 2023[78] - Employee costs increased by 17.9% from approximately HKD 15.1 million in the first half of 2022 to approximately HKD 17.8 million in the same period of 2023, reflecting a return to normal operations[77] Corporate Governance and Management - The company has adopted a corporate governance code in compliance with GEM listing rules, emphasizing transparency and accountability[119] - The company established an audit committee in compliance with GEM listing rules, with independent non-executive director Ms. Xie Meiling as the chairperson[126] - The board of directors includes executive directors Mr. Cai Yihan (Chairman and CEO), Mr. Cai Shaojie, and Mr. Patrick Ting, along with non-executive and independent non-executive directors[130] Future Outlook and Strategies - The company continues to explore new strategies for market expansion and product development to enhance future performance[4] - The company plans to raise approximately HKD 43.9 million through a rights issue of 274,128,000 shares at a subscription price of HKD 0.160 per share to improve cash flow and meet repayment obligations[92] - The restaurant business in Hong Kong is expected to improve in the second half of 2023 due to the government's consumption voucher scheme, providing eligible individuals with HKD 2,000 or HKD 1,000[92] Challenges and Risks - The company acknowledges ongoing challenges in the business environment, including economic slowdown, weak consumer spending, and higher funding costs due to U.S. Federal Reserve interest rate hikes[92] - The company expects currency fluctuations between HKD and MOP to have a minimal impact on operations, as a substantial portion of revenue is denominated in HKD[87]
陆庆娱乐(08052) - 2023 - 中期业绩
2023-08-07 13:12
香港交易及結算所有限公司及香港聯合交易所有限公司(「聯交所」)對本公告的內容 概不負責,對其準確性或完整性亦不發表任何聲明,並明確表示概不就因本公告全 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。 LUK HING ENTERTAINMENT GROUP HOLDINGS LIMITED 陸慶娛樂集團控股有限公司 (於開曼群島註冊成立的有限公司) (股份代號:8052) 截至2023年6月30日止六個月的 中期業績公告 香港聯合交易所有限公司(「聯交所」)GEM的特色 GEM之定位,乃為中小型公司提供一個上市的市場,此等公司相比起其他在聯交所 上市的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在風險, 並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司,在GEM買賣之證券可能會較於聯交所主板買 賣之證券承受較大之市場波動風險,同時無法保證在GEM買賣之證券會有高流通量 之市場。 香港交易及結算所有限公司及聯交所對本公告的內容概不負責,對其準確性或完整 性亦不發表任何聲明,並明確表示,概不對因本公告全部或任何部份內容而產生或 因倚賴該等內容而引致 ...
陆庆娱乐(08052) - 2023 Q1 - 季度财报
2023-05-12 14:27
Financial Performance - Revenue for the first quarter of 2023 reached HKD 23,806,000, a significant increase from HKD 6,571,000 in the same period of 2022, representing a growth of approximately 262%[3] - The cost of goods sold was HKD 6,295,000, up from HKD 1,881,000 in the previous year, indicating a rise of about 234%[3] - The company reported a pre-tax profit of HKD 122,000, a turnaround from a loss of HKD 15,213,000 in Q1 2022[3] - The net profit attributable to the owners of the company was a loss of HKD 430,000, compared to a loss of HKD 9,918,000 in the same quarter last year, showing an improvement[5] - Total comprehensive loss for the period was HKD 771,000, significantly reduced from HKD 15,430,000 in Q1 2022[3] - Basic and diluted loss per share for the first quarter was HKD 0.02, compared to HKD 0.44 in the same period last year[5] - Total revenue increased by 260.6% from approximately HKD 6.6 million in Q1 2022 to approximately HKD 23.8 million in Q1 2023, as restaurant sales recovered to 90% of pre-pandemic levels[34] - The company reported a loss attributable to owners of approximately HKD 0.4 million in Q1 2023, a significant decrease from HKD 9.9 million in the same period of 2022, primarily due to a rebound in restaurant sales and minimized operating expenses after the termination of CUBIC SPACE+ in October 2022[38] Costs and Expenses - The company incurred financing costs of HKD 381,000, down from HKD 1,689,000 in the previous year, reflecting a decrease of approximately 77%[3] - Employee costs increased by 20.5% from approximately HKD 7.3 million in Q1 2022 to approximately HKD 8.8 million in Q1 2023, reflecting a return to normal levels as sales revenue rebounded[35] - Property rental and related expenses decreased by 9.5% from approximately HKD 2.1 million in Q1 2022 to approximately HKD 1.9 million in Q1 2023 due to the termination of CUBIC SPACE+ operations[35] - Advertising and marketing expenses fell by 70.0% from approximately HKD 0.1 million in Q1 2022 to approximately HKD 0.03 million in Q1 2023, attributed to strict cost control measures[35] - Other operating expenses increased by 23.1% from approximately HKD 2.6 million in Q1 2022 to approximately HKD 3.2 million in Q1 2023, driven by higher variable costs due to increased sales revenue[36] - Depreciation and amortization decreased by 50.7% from approximately HKD 6.7 million in Q1 2022 to approximately HKD 3.3 million in Q1 2023, primarily due to the cessation of CUBIC SPACE+ operations[36] Financing and Capital Raising - The group completed a placement of 450,880,000 shares on March 17, 2023, raising net proceeds of approximately HKD 6.9 million, primarily used to repay convertible notes and loans[15] - The group plans to raise approximately HKD 43.9 million through a rights issue, with an estimated net amount of HKD 40.9 million to be used for repaying outstanding debts and operational funding[15] - The company is actively exploring fundraising activities, including a proposed rights issue to raise up to approximately HKD 43.9 million[32] - The board believes that the proposed rights issue in Q2 and Q3 2023 will provide an opportunity to repay major outstanding debts and strengthen the company's financial position while raising additional funds for operations without any interest burden[39] Liquidity and Going Concern - As of March 31, 2023, the group had current liabilities of approximately HKD 112,597,000 and total liabilities of approximately HKD 101,613,000, raising significant doubts about the group's ability to continue as a going concern[13] - The company successfully placed new shares to new investors in March 2023 to repay part of its outstanding debt, although the net debt remains significant, creating uncertainty regarding the company's ability to continue as a going concern[39] - The group is actively exploring financing arrangements to improve liquidity and has engaged in discussions with banks to renew existing financing[17] Operational Focus and Strategy - The company is focused on expanding its operations in the dining and entertainment sectors, with plans for new product offerings and market expansion[9] - The company will continue to closely monitor its costs while striving to maximize revenue by providing first-class service to customers[40] - The company remains optimistic about its business and operations due to the gradual easing of social restrictions in multiple countries, leading to a rebound in domestic activities, reopening of borders, and recovery of international travel[39] Corporate Governance - The financial statements were prepared in accordance with the Hong Kong Financial Reporting Standards and GEM Listing Rules, ensuring compliance and transparency[12] - The audit committee has been established in accordance with GEM Listing Rules and consists of independent non-executive directors, ensuring compliance and effective risk management[61] - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ended March 31, 2023[62] - The board of directors includes executive and non-executive members, with recent changes in appointments reflecting ongoing governance adjustments[64] Shareholding Structure - As of March 31, 2023, Welmen and its controlled entities hold a total of 1,093,500,000 shares, representing approximately 39.89% of the company's issued share capital[48] - Kenbridge Limited and its controlled entity hold 121,500,000 shares, accounting for about 4.43% of the company's issued share capital[50] - Trendy Pleasure Limited and its controlled entity also hold 300,000,000 shares, which is approximately 10.94% of the company's issued share capital[50] Other Information - The company did not purchase, sell, or redeem any of its listed securities during the three-month period ending March 31, 2023[55] - No significant events that could materially impact the company's operations or financial performance have occurred after March 31, 2023[54] - The company maintains a clear operational boundary with its controlling shareholder's restaurant business in Macau, which is distinct from its own operations[56] - The controlling shareholder has interests in several restaurant businesses in Hong Kong, which are not part of the company[58] - The company has no knowledge of any conflicts of interest involving its directors or controlling shareholders as of March 31, 2023[60]
陆庆娱乐(08052) - 2023 Q1 - 季度业绩
2023-05-12 14:25
香港交易及結算所有限公司及香港聯合交易所有限公司(「聯交所」)對本公告的內容 概不負責,對其準確性或完整性亦不發表任何聲明,並明確表明概不就因本公告全 部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 LUK HING ENTERTAINMENT GROUP HOLDINGS LIMITED 陸 慶 娛 樂 集 團 控 股 有 限 公 司 (於開曼群島註冊成立的有限公司) (股份代號:8052) 2023 3 31 截至 年 月 日止三個月之第一季度業績公告 GEM 香港聯合交易所有限公司(「聯交所」) 的特色 GEM 之定位,乃為中小型公司提供一個上市的市場,此等公司相比起其他在聯交所 上市的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在風險, 並應經過審慎周詳的考慮後方作出投資決定。 GEM GEM 由於 上市公司普遍為中小型公司,在 買賣之證券可能會較於聯交所主板買 GEM 賣之證券承受較大之市場波動風險,同時無法保證在 買賣之證券會有高流通量 之市場。 香港交易及結算所有限公司及聯交所對本公告的內容概不負責,對其準確性或完整 性亦不發表任何聲明,並明確表示,概不對因 ...
陆庆娱乐(08052) - 2022 - 年度财报
2023-04-02 10:11
Business Challenges and Recovery - The company faced significant challenges in 2022 due to labor shortages, insufficient tourists from mainland China and overseas, and rising operational costs[10]. - The restaurant business was severely impacted by COVID-19, with ongoing public gathering restrictions affecting operations and increasing costs for ingredients and shipping containers[11]. - The company has limited its operations in mainland China due to deteriorating business conditions and disagreements with property owners[12]. - The board is cautious about potential challenges from global political tensions, rising food prices, and increased labor costs in the upcoming year[13]. - The company plans to optimize and transform its existing business in 2023 to improve operational efficiency and capitalize on post-pandemic reopening momentum[13]. - The company aims to continuously review its existing business and seek potential business and investment opportunities to expand revenue sources[15]. Financial Performance - Total revenue decreased by 63.5% from approximately HKD 160.4 million in 2021 to approximately HKD 58.6 million in 2022, primarily due to the termination of operations at Club Cubic Macau and CUBIC SPACE+, as well as the ban on dine-in services from January 7 to April 20, 2022[27]. - Restaurant business generated revenue of approximately HKD 57.7 million in 2022, accounting for about 98.5% of the total revenue, compared to HKD 65.9 million in 2021[19]. - The net loss attributable to owners of the company for 2022 was approximately HKD 32.1 million, a significant decrease from HKD 72.0 million in 2021, mainly due to the sale of Club Cubic Macau[33]. - Current ratio decreased from 0.3 in 2021 to 0.1 in 2022, while the debt ratio increased from 154.4% in 2021 to 358.9% in 2022[34]. - Cash and cash equivalents as of December 31, 2022, were HKD 0.6 million, down from HKD 2.0 million in 2021[34]. - The company received approximately HKD 3.9 million in government subsidies related to COVID-19 in 2022[25]. - The company successfully applied for an 8 million HKD government-guaranteed loan to cover restaurant rent payments[25]. Operational Adjustments - The company will continue to implement various menus for takeout and self-pickup to attract more customers amid ongoing restrictions[11]. - The company implemented stricter measures to improve operational cash flow and closely monitored operating expenses during the challenging business environment[25]. - Cost of goods sold decreased by 56.0% from approximately HKD 41.6 million in 2021 to about HKD 18.3 million in 2022, consistent with the decline in revenue[28]. - Employee costs fell by 62.8% from approximately HKD 86.5 million in 2021 to about HKD 32.2 million in 2022, primarily due to the closure of Club Cubic Macau and CUBIC SPACE+[28]. - Other operating expenses decreased by 42.7% from approximately HKD 27.9 million in 2021 to about HKD 16.0 million in 2022, attributed to the termination of operations at Club Cubic Macau and CUBIC SPACE+[29]. Corporate Governance - The company has complied with the corporate governance code and has taken measures to ensure transparency and accountability to shareholders[57]. - The company emphasizes the importance of maintaining stakeholder trust and confidence through good governance standards[57]. - The company regularly reviews and improves its corporate governance practices to align with the latest developments[60]. - The company has adopted a board diversity policy since November 10, 2016, emphasizing the importance of diverse backgrounds in enhancing company performance[68]. - The board consists of 7 members, including 3 executive directors, 1 non-executive director, and 3 independent non-executive directors[62]. - The company appointed Ms. Xie Meiling as an independent non-executive director and chair of the audit and remuneration committees on January 13, 2023[57]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report covers the period from January 1, 2022, to December 31, 2022, and is prepared according to GEM listing rules[114]. - The company emphasizes reducing environmental impact and providing a safe and pleasant working environment for employees and customers[118]. - The company aims to reduce overall greenhouse gas emissions by 3% to 5% in the coming year to save costs and mitigate global warming impacts[128]. - The company has implemented policies to ensure compliance with environmental laws and to minimize its environmental impact[122]. - The company has engaged independent consultants to assess its ESG performance for the year 2022[110]. Employee Management and Diversity - The company is committed to building an inclusive corporate culture, providing equal employment opportunities without discrimination[154]. - The employee gender ratio as of December 31, 2022, is 67.09% male and 32.91% female, indicating a focus on diversity in hiring practices[71]. - The company has fulfilled all employee responsibilities, including payment of salaries, holidays, and insurance during the reporting period[159]. - Employee turnover rate for the group was 79.75% during the 2022 reporting period, with 63 employees voluntarily leaving for various reasons[161]. - The group maintained a commitment to a diverse and non-discriminatory work environment, ensuring equal opportunities for all employees[164]. Risk Management - The group faces various risks including market risk, credit risk, and liquidity risk, which could significantly impact its financial condition and operational performance[192]. - The board is responsible for the group's risk management and has established a robust internal control system to ensure efficient resource use and compliance with laws[94]. - A risk management team, composed of experienced executives, conducts quarterly risk identification and analysis, assessing potential risks and developing mitigation plans[96]. Community Engagement - During the 2022 reporting period, the group continued to focus on community needs, making donations to local charities and emphasizing local employment[187]. - The company maintains multiple communication channels with shareholders, including annual general meetings and disclosures on its website[100].