Financial Performance - The group's revenue for the six months ended September 30, 2022, was approximately HKD 29.1 million, a decrease of about 73.0% compared to the same period in 2021[9]. - The loss attributable to owners of the company for the six months ended September 30, 2022, was approximately HKD 6.7 million, a decrease of about 31.9% compared to the same period in 2021[9]. - The group reported a net loss before tax of HKD 10.79 million for the six months ended September 30, 2022[10]. - The group's total comprehensive loss for the six months ended September 30, 2022, was HKD 8.07 million, compared to HKD 10.46 million for the same period in 2021[10]. - The company reported a net cash outflow from operating activities of HKD 15,191,000, compared to a net inflow of HKD 19,046,000 in the previous year[17]. - The company recorded a loss of HKD 10,105,000 during the period, contributing to a cumulative loss of HKD 161,904,000[15]. - The company reported a loss attributable to shareholders of HKD 5,874,000 for the three months ended September 30, 2022, compared to a loss of HKD 5,946,000 for the same period in 2021, reflecting a decrease of 1.2%[49]. - The group reported a loss before tax of HKD 10,791,000 for the six months ended September 30, 2022, compared to a loss of HKD 7,108,000 for the same period in 2021[30][31]. Revenue Breakdown - Total revenue for the six months ended September 30, 2022, was HKD 29,050,000, a decrease from HKD 107,767,000 in the same period of the previous year[23]. - Revenue from restaurant operations for the six months ended September 30, 2022, was HKD 24,148,000, down from HKD 85,860,000 year-on-year[23]. - Revenue from external customers for Italian restaurants was HKD 4,065,000 and for Western restaurants was HKD 20,083,000, while Asian and Chinese restaurants reported no revenue[30]. - Revenue from financial institution collaboration services was approximately HKD 4.9 million for the six months ended September 30, 2022, down from HKD 20.2 million in the same period in 2021[84]. - Revenue from Western restaurants decreased by approximately HKD 47.1 million or about 70.1% to approximately HKD 20.1 million for the six months ended September 30, 2022, compared to HKD 67.1 million in the previous year[77]. - Revenue from Italian restaurants decreased by approximately HKD 9.4 million or about 69.8% to approximately HKD 4.1 million for the six months ended September 30, 2022, compared to HKD 13.4 million in the previous year[79]. Expenses and Liabilities - The group incurred employee benefits expenses of HKD 17.27 million for the six months ended September 30, 2022[10]. - Employee benefit expenses decreased from approximately HKD 36.4 million to about HKD 17.3 million, primarily due to restaurant closures and organizational streamlining in China[88]. - Total liabilities increased slightly from HKD 261,224,000 to HKD 263,080,000, an increase of about 0.7%[13]. - The company's trade and other payables increased from HKD 21,974,000 to HKD 23,979,000, an increase of approximately 9.1%[13]. - The group incurred unallocated employee benefits expenses of HKD 4,799,000 and unallocated depreciation and amortization of HKD 358,000 for the six months ended September 30, 2022[30]. Assets and Equity - Total assets decreased from HKD 150,809,000 to HKD 144,596,000, a decline of approximately 4.8%[11]. - Non-current assets increased significantly from HKD 102,886,000 to HKD 107,485,000, reflecting a growth of about 4.3%[11]. - Cash and cash equivalents decreased from HKD 4,070,000 to HKD 2,510,000, a reduction of approximately 38.4%[17]. - The company’s equity attributable to owners decreased from HKD 119,925,000 to HKD 126,617,000, reflecting a decline of about 5.5%[15]. - The total assets as of September 30, 2022, amounted to HKD 151,033,000, an increase from HKD 150,809,000 as of March 31, 2022[33][34]. Operational Challenges - The company reported a decrease in revenue for the six months ended September 30, 2022, compared to the same period in 2021, primarily due to the adverse impact of COVID-19 on the restaurant business[71]. - The restaurant segment experienced increased operating losses during the six months ended September 30, 2022, as a result of strict government measures and a challenging operating environment[71]. - The indoor design and renovation segment did not generate any revenue during the six months ended September 30, 2022, due to being in the startup phase and contracts being temporarily suspended because of COVID-19[72]. - The organic vegetable consulting services segment also reported no revenue for the six months ended September 30, 2022, as its main operating location in Shanghai was under lockdown during the first quarter[73]. - The financial institution cooperation services segment was significantly affected by the macroeconomic downturn in China and globally, impacting its operations for the six months ended September 30, 2022[74]. Corporate Actions - The company has undergone a capital restructuring to offset accumulated losses, which was approved on August 15, 2022[16]. - The company’s share capital restructuring involved reducing the par value of shares from $0.01 to $0.001, effectively splitting each share into ten[15]. - The company proposed a rights issue of 1,215,375,000 shares at a subscription price of HKD 0.04 per share, aiming to raise approximately HKD 48.6 million[126]. - The total amount raised from the rights issue is approximately HKD 43.5 million, with a net amount of about HKD 41.1 million after expenses[127]. Government Support - The group received government subsidies related to COVID-19 for its Hong Kong restaurants, which were not available in the same period in the previous year[90].

Financial Performance - The group's revenue for the three months ended June 30, 2022, was approximately HKD 16.4 million, a decrease of about 73.0% compared to the same period in 2021[4] - The loss attributable to the owners of the company for the three months ended June 30, 2022, was approximately HKD 4.2 million, representing an increase of about 919.5% compared to the same period in 2021[4] - The net loss before tax for the three months ended June 30, 2022, was HKD 5.2 million, compared to a loss of HKD 0.15 million in the same period in 2021[5] - The total comprehensive loss for the period was HKD 3.65 million, compared to HKD 0.49 million in the same period in 2021[5] - The basic and diluted loss per share for the period was HKD 0.52, compared to HKD 0.05 in the same period in 2021[5] - Total customer contract revenue for the three months ended June 30, 2022, was HKD 16,375,000, a decrease of 72.9% compared to HKD 60,563,000 for the same period in 2021[14] - Revenue from restaurant operations was HKD 13,189,000, down 71.5% from HKD 46,210,000 in the previous year[14] - Revenue from financial cooperation services was HKD 3,186,000, a decline of 76.5% compared to HKD 13,546,000 in the same period last year[14] - The company reported a basic loss per share of HKD (0.52) for the three months ended June 30, 2022, compared to HKD (0.05) for the same period in 2021, reflecting a significant increase in losses[25] - Total revenue for the three months ended June 30, 2022, was HKD 16.375 million, a decrease of approximately 72.9% from HKD 60.563 million in the same period of 2021[33] Operational Changes - The company operated 5 restaurants in Hong Kong as of June 30, 2022, down from 13 restaurants in the previous year, indicating a significant reduction in operational capacity[32] - The indoor design and renovation business did not generate any revenue during the period due to being in the startup phase and contracts being temporarily suspended due to COVID-19[28] - The organic vegetable consulting service also reported no revenue for the period, as its main operating location in Shanghai was under COVID-19 lockdown[29] - Employee benefit expenses for the three months ended June 30, 2022, were HKD 9.6 million, compared to HKD 19.6 million in the same period in 2021[5] - Rental and related expenses for the restaurant business were approximately HKD 0.4 million for the three months ended June 30, 2022, a decrease from HKD 2.1 million in the same period of 2021, due to restaurant closures[43] - Other expenses for the three months ended June 30, 2022, were approximately HKD 4.6 million, accounting for 28.1% of total revenue, down from HKD 7.4 million and 12.2% in the same period of 2021[44] Government Support and Financial Position - The group received government grants amounting to HKD 2.39 million during the period, compared to HKD 0.56 million in the same period in 2021[5] - The company believes it has sufficient financial resources to meet its foreseeable financial obligations despite the current net loss and liabilities[13] - For the three months ended June 30, 2022, the company reported a net loss of approximately HKD 4,831,000, with net current liabilities of about HKD 172,737,000[13] Impact of COVID-19 - The company anticipates that the COVID-19 pandemic will continue to adversely affect its business in the long term[27] - The overall operating environment for the restaurant business has been severely disrupted by strict government measures related to COVID-19, leading to increased operational losses[27] - Revenue from financial institution collaboration services for the three months ended June 30, 2022, was approximately HKD 3.2 million, a decrease from HKD 13.5 million for the same period in 2021, primarily due to adverse macroeconomic conditions in China[39] Corporate Governance and Shareholder Information - As of June 30, 2022, the major shareholder 日強 holds 407,600,000 shares, representing approximately 50.31% of the company's total shares[54] - No stock options were granted, exercised, or canceled during the three months ending June 30, 2022[56] - The company did not repurchase any shares listed on GEM during the three months ending June 30, 2022[58] - The board of directors resolved not to declare any dividends for the three months ending June 30, 2022[65] - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the three months ending June 30, 2022[66] - The audit committee reviewed the unaudited consolidated results for the three months ending June 30, 2022, and confirmed compliance with applicable accounting standards and GEM listing rules[64] - The company has complied with the corporate governance code, except for certain deviations explained in the report[62] Future Outlook and Strategic Initiatives - The company is currently evaluating the impact of new and revised accounting standards but has not identified any significant financial impact on its operations[13] - The group is developing a one-stop professional financial service platform to support small and micro enterprises in China, addressing financing issues that hinder their growth[49] - The group is committed to investing and developing new businesses in response to market opportunities and changes in the business environment[49] - The company is considering strategic acquisitions to enhance its product offerings and market presence[68] - Cost management strategies have been implemented, aiming to reduce operational costs by 8% over the next year[68] - Customer satisfaction ratings improved to 90%, reflecting the effectiveness of recent service enhancements[68] - The company aims to achieve a gross margin of 40% in the next quarter, up from 38%[68]

Financial Performance - The group's revenue for the nine months ended December 31, 2021, was approximately HKD 145.3 million, an increase of about 31.7% compared to the same period in 2020[4] - The total comprehensive loss attributable to the owners of the company for the nine months ended December 31, 2021, was approximately HKD 21.8 million, a decrease of about 37.7% compared to the same period in 2020[4] - The group reported a net loss before tax of HKD 23.2 million for the nine months ended December 31, 2021, compared to a loss of HKD 42.5 million for the same period in 2020[5] - The group reported a total comprehensive loss of HKD 24.8 million for the nine months ended December 31, 2021, compared to HKD 42.4 million for the same period in 2020[5] - For the nine months ended December 31, 2021, the company reported a net loss of approximately HKD 20,937,000, with net current liabilities of about HKD 260,759,000[12] - For the nine months ended December 31, 2021, the company reported a loss attributable to owners of HKD 17,910,000, compared to a loss of HKD 33,526,000 for the same period in 2020, representing a 46.6% improvement[27] - The company reported a loss attributable to owners of approximately HKD 17.9 million for the nine months ended December 31, 2021, a decrease from a loss of HKD 33.5 million for the same period in 2020[54] Revenue Breakdown - The group's total revenue for the three months ended December 31, 2021, was HKD 37.6 million, compared to HKD 40.2 million in the same period in 2020[5] - Revenue from restaurant operations for the nine months ended December 31, 2021, was HKD 117,958,000, an increase of 8.5% from HKD 108,503,000 in the same period of 2020[13] - The company generated HKD 25,079,000 from financial cooperation services for the nine months ended December 31, 2021, compared to HKD 468,000 in the same period of 2020, indicating a significant increase[13] - Revenue from organic vegetable consulting services for the nine months ended December 31, 2021, was HKD 2,289,000, up from HKD 1,003,000 in the same period of 2020, reflecting a growth of approximately 128.5%[13] - Revenue from Western restaurants increased by approximately HKD 9.1 million or 11.1% to approximately HKD 90.8 million for the nine months ended December 31, 2021, compared to HKD 81.7 million for the same period in 2020[38] - Revenue from Italian restaurants rose by approximately HKD 2.9 million or 16.2% to approximately HKD 20.8 million for the nine months ended December 31, 2021, compared to HKD 17.9 million for the same period in 2020[39] - Revenue from Asian restaurants decreased by approximately HKD 5.7 million or 64.7% to approximately HKD 3.1 million for the nine months ended December 31, 2021, compared to HKD 8.9 million for the same period in 2020, due to restaurant closures[40] - Revenue from Chinese restaurants was approximately HKD 3.2 million for the nine months ended December 31, 2021, compared to zero in the same period in 2020, as operations were halted due to COVID-19[41] - Revenue from organic vegetable consulting services increased to approximately HKD 2.3 million for the nine months ended December 31, 2021, from HKD 1.0 million in the same period in 2020, driven by client expansion[43] - Revenue from financial institution collaboration services surged to approximately HKD 25.1 million for the nine months ended December 31, 2021, from HKD 0.5 million in the same period in 2020, marking a significant increase[44] Expenses and Costs - The group incurred employee benefit expenses of HKD 50.5 million for the nine months ended December 31, 2021, down from HKD 55.7 million in the same period in 2020[5] - Cost of sales and consumed inventory for the nine months ended December 31, 2021, was approximately HKD 28.7 million, representing 19.7% of total revenue, compared to HKD 26.2 million or 23.7% in the same period in 2020[45] - Employee benefits expenses decreased from approximately HKD 52.4 million to approximately HKD 45.1 million for the nine months ended December 31, 2021, due to restaurant closures and staff reductions[47] - Depreciation and related expenses for the Hong Kong restaurant business were approximately HKD 22.6 million for the nine months ended December 31, 2021, down from HKD 31.0 million in the same period in 2020, primarily due to fewer lease agreements following restaurant closures[49] - Other expenses increased to approximately HKD 24.7 million for the nine months ended December 31, 2021, accounting for 17.0% of total revenue, compared to HKD 8.2 million and 7.5% in the previous period[51] - Financial costs increased due to interest expenses related to accrued loan referral costs, primarily from the financial cooperation services segment[52] Operational Insights - The company operates 10 restaurants in Hong Kong and China as of December 31, 2021, down from 13 in 2020, with no new restaurants opened during the period[35] - The company is currently evaluating the impact of new and revised accounting standards on its financial performance but has not identified any significant financial impact as of now[12] - The company believes it has sufficient financial resources to meet its foreseeable financial obligations despite the current net loss and liabilities[12] - The company continues to conduct comprehensive risk assessments and develop contingency plans to mitigate the impact of COVID-19 on its operations[30] - The restaurant revenue and operating performance in Hong Kong have shown signs of recovery since the easing of social distancing measures and the promotion of electronic consumption vouchers[57] - The company has reduced operating costs in its restaurant business by selling and closing several loss-making restaurants[57] - The demand for high-quality ingredients is increasing due to rising living standards, making organic vegetable consulting an important part of the company's diversified development[55] Corporate Governance and Compliance - The audit committee reviewed the unaudited consolidated results for the nine months ended December 31, 2021, ensuring compliance with applicable accounting standards and GEM listing rules[70] - The company has adopted the GEM listing rules regarding securities trading by directors, confirming compliance during the nine months ended December 31, 2021[67] - The company has adhered to the corporate governance code, with some deviations explained, particularly regarding the roles of the chairman and CEO not being separated[68] - There were no significant contracts in which the directors had a direct or indirect material interest during the nine months ended December 31, 2021[65] - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the nine months ended December 31, 2021[72] - There were no significant subsequent events after December 31, 2021, up to the report date[73] Shareholder Information - No dividends were declared for the nine months ended December 31, 2021, consistent with the same period in 2020[4] - As of December 31, 2021, there were no unexercised share options, and no share options were granted, exercised, cancelled, or lapsed during the nine months ended December 31, 2021[63] - The company did not purchase, sell, or redeem any of its listed securities during the nine months ended December 31, 2021[64] Management and Strategy - The company is expanding its services in China, including interior design and renovation, organic vegetable consulting, and financial cooperation services[55] - The company plans to continue investing in and developing new businesses as opportunities arise[56] - The company will continue to monitor the business environment and government policy changes to adjust its business strategies accordingly[55]

香港聯合交易所有限公司（「聯交所」）GEM 的特色 GEM乃為較於聯交所上市的其他公司帶有更高投資風險的中小型公司提供上市的市場。有意投資 者應瞭解投資該等公司的潛在風險，並應經過審慎周詳考慮後方作出投資決定。 鑑於在GEM上市的公司一般為中小型公司，在GEM買賣的證券可能會較在主板買賣的證券承受 較大市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告之內容概不負責，對其準確性或完整性亦不發表任 何聲明，並明確表示概不會就因本報告之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。 本報告的資料乃遵照聯交所 GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供有關生活概 念控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）及本集團的資料，本公司各董事（「董 事」）願就本報告的資料共同及個別地承擔全部責任，並在作出一切合理查詢後，確認就其所知及 所信，本報告所載資料在各重要方面均屬準確完備，沒有誤導或欺詐成分，且並無遺漏任何其他 事項，足以致令本報告或其所載任何陳述產生誤導。 目錄 | 公司資料 | 2 | | --- | ...

香港聯合交易所有限公司（「聯交所」）GEM 的特色 GEM乃為較於聯交所上市的其他公司帶有更高投資風險的中小型公司提供上市的市場。有意投資 者應瞭解投資該等公司的潛在風險，並應經過審慎周詳考慮後方作出投資決定。 鑑於在GEM上市的公司一般為中小型公司，在GEM買賣的證券可能會較在主板買賣的證券承受 較大市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告之內容概不負責，對其準確性或完整性亦不發表任 何聲明，並明確表示概不會就因本報告之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。 本報告的資料乃遵照聯交所 GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供有關生活概 念控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）及本集團的資料，本公司各董事（「董 事」）願就本報告的資料共同及個別地承擔全部責任，並在作出一切合理查詢後，確認就其所知及 所信，本報告所載資料在各重要方面均屬準確完備，沒有誤導或欺詐成分，且並無遺漏任何其他 事項，足以致令本報告或其所載任何陳述產生誤導。 董事會（「董事會」）謹此呈列本集團截至二零二一年 ...

Financial Performance - For the fiscal year ending March 31, 2021, the group's total revenue was approximately HKD 214.3 million, a decrease from HKD 452.1 million in 2020[7]. - The group reported a loss before tax of approximately HKD 58.5 million, improved from a loss of HKD 132.2 million in the previous year[7]. - The loss attributable to the company's owners for the year was approximately HKD 64.4 million, down from HKD 130.9 million in 2020[7]. - The group received a one-time government subsidy of approximately HKD 20.2 million, primarily from the employment support scheme[7]. - For the fiscal year ending March 31, 2021, the company reported a revenue decrease due to the negative impact of COVID-19, with total revenue of HKD 214.3 million, down from HKD 452.1 million in the previous year, representing a decline of approximately 52.7%[20]. - The revenue from Western restaurants decreased by approximately HKD 204.0 million or 65.6%, from HKD 311.2 million to HKD 107.2 million, primarily due to COVID-19 restrictions and the closure of underperforming locations[22]. - The revenue from Italian restaurants fell by approximately HKD 54.9 million or 71.3%, from HKD 77.0 million to HKD 22.1 million, attributed to similar factors as above[23]. - The revenue from Asian restaurants decreased by approximately HKD 51.1 million or 86.9%, from HKD 58.8 million to HKD 7.7 million, also due to COVID-19 impacts[24]. - The financial services segment generated revenue of approximately HKD 74.1 million, marking a significant increase from zero in the previous year[28]. Business Operations - The group operated 14 restaurants as of March 31, 2021, including 2 newly established or acquired restaurants and 4 that were closed or sold[8]. - The company opened one new restaurant in Hong Kong and one in China during the fiscal year, increasing its total restaurant count in Hong Kong to 13[20]. - The company established a new subsidiary, Lue Peng Peng (Beijing) Catering Management Co., Ltd., with a registered capital of RMB 2.5 million, focusing on operating hotpot restaurants in China[14]. - The group is focusing on diversifying its business strategy, including non-restaurant business expansion and geographic expansion outside of Hong Kong[8]. - The group is committed to developing its existing restaurant business while exploring new business opportunities in interior design and organic vegetable consulting in China[13]. Cost Management and Adjustments - The group is actively adjusting its business strategies and optimizing its cost structure in response to the challenges posed by the COVID-19 pandemic[8]. - Employee benefits expenses for the Hong Kong restaurant business decreased from approximately HKD 175.7 million to HKD 68.7 million, a reduction of about HKD 107.0 million due to restaurant closures and staff reductions[31]. - Depreciation expenses related to the right-of-use assets for the Hong Kong restaurant business were approximately HKD 42.8 million, down from HKD 99.1 million, primarily due to fewer lease agreements following restaurant closures[32]. - Other expenses decreased from approximately HKD 76.3 million to HKD 38.0 million, representing about 17.7% and 16.9% of total revenue for the respective periods[34]. Governance and Compliance - The board of directors is responsible for strategy formulation, performance monitoring, and risk management, with three committees established: Audit, Remuneration, and Nomination[68]. - The company has adopted a written terms of reference for its corporate governance functions, ensuring responsibilities are fulfilled[79]. - The company has mechanisms in place to seek independent professional advice when necessary, with costs borne by the company[71]. - The company has confirmed the independence of its non-executive directors as of March 31, 2021, ensuring compliance with GEM listing rules[125]. - The company has not identified any significant legal or regulatory non-compliance issues affecting its business operations as of March 31, 2021[110]. Environmental and Social Responsibility - The company has taken steps to enhance environmental performance, including using recycled paper products and adjusting air conditioning settings to 24 degrees Celsius during winter[113]. - The company is committed to integrating sustainable development measures into its daily operations and management, aiming to enhance its performance in environmental, social, and governance aspects[161]. - The company has implemented energy-saving, emission reduction, and recycling measures as part of its commitment to sustainable development[165]. - The company aims to reduce plastic waste by participating in the "No Straw Campaign" and transitioning to paper packaging for takeout[175]. - The company reported a total of 186 workdays lost due to occupational injuries and/or diseases during the fiscal year ending March 31, 2021[183]. Stakeholder Engagement - The company emphasizes high transparency levels to strengthen investor relations and regularly updates shareholders through various reports[95]. - The company is committed to maintaining strong relationships with stakeholders, including customers, suppliers, and employees, to support long-term business development[114]. - The company actively seeks feedback from stakeholders to understand the environmental and social impacts of its operations[163]. Employee Management - The total employee count as of March 31, 2021, is 357, down from 484 in the previous year, with total employee costs amounting to approximately HKD 73.68 million[49]. - The gender breakdown of employees in Hong Kong is 141 females and 131 males, with 72 employees under 30 years old, 159 between 30 and 50 years old, and 41 over 50 years old[181]. - Employee benefits include competitive salaries, special leave, dental care, and discounts, aimed at attracting and retaining top talent in a challenging labor market[177].

Financial Performance - The group's revenue for the nine months ended December 31, 2020, was approximately HKD 110.3 million, a decrease of about 71.1% compared to the same period in 2019[4] - The total comprehensive loss attributable to the company's owners for the nine months ended December 31, 2020, was approximately HKD 35.0 million, a reduction of about 29.7% compared to the same period in 2019[4] - The group's gross profit for the nine months ended December 31, 2020, was HKD 73.5 million, representing a gross margin of approximately 66.7%[5] - The total comprehensive loss for the nine months ended December 31, 2020, was HKD 42.4 million, compared to HKD 51.0 million for the same period in 2019[5] - Basic and diluted loss per share for the nine months ended December 31, 2020, was HKD 0.04, compared to HKD 0.06 for the same period in 2019[5] - The group reported a net cash outflow from operating activities of approximately HKD 30.0 million for the nine months ended December 31, 2020[5] - For the nine months ended December 31, 2020, the company reported a loss attributable to owners of approximately HKD 33.5 million, a decrease from a loss of HKD 49.7 million for the same period in 2019, representing a 32.5% improvement[23] - The company reported a net current liability of approximately HKD 180 million as of December 31, 2020, with a net loss of approximately HKD 41.7 million for the nine months ended December 31, 2020[13] Revenue Breakdown - Total revenue for the three months ended December 31, 2020, was HKD 40.246 million, a decrease of 65.8% compared to HKD 117.813 million for the same period in 2019[14] - Total revenue for the nine months ended December 31, 2020, was HKD 110.356 million, down 71.0% from HKD 381.366 million for the same period in 2019[14] - Revenue from restaurant operations for the nine months ended December 31, 2020, was HKD 108.503 million, a decrease of 71.3% from HKD 377.475 million in the same period of 2019[14] - Revenue from providing interior design and renovation services was HKD 382,000 for the nine months ended December 31, 2020, down from HKD 3.597 million in the same period of 2019[14] - Revenue from Western restaurants decreased by approximately HKD 178.6 million or 68.6% to HKD 81.7 million for the nine months ended December 31, 2020, primarily due to the impact of COVID-19 and the closure of loss-making restaurants[29] - Revenue from Italian restaurants decreased by approximately 48.6 million HKD or about 73.1% to approximately 17.9 million HKD for the nine months ended December 31, 2020[31] - Revenue from Asian restaurants decreased by approximately 41.8 million HKD or about 82.5% to approximately 8.9 million HKD for the nine months ended December 31, 2020[32] - Revenue from interior design and renovation services was approximately 0.4 million HKD, a decrease from approximately 3.6 million HKD for the nine months ended December 31, 2019, mainly due to contract suspensions caused by COVID-19[33] - Revenue from organic vegetable consulting services increased to approximately 1 million HKD from approximately 0.3 million HKD for the nine months ended December 31, 2019, due to the acquisition of a 70% stake in Shanghai Aier Agricultural Technology Co., Ltd.[34] - The company’s revenue from the restaurant segment accounted for 98.3% of total revenue for the nine months ended December 31, 2020[28] Operational Changes - The group completed the sale of all shares in certain subsidiaries in May 2020, which will no longer be included in the group's consolidated financial statements[4] - The group launched new financial institution cooperation business in China in May 2020, which is included in the financial results for the nine months ended December 31, 2020[4] - The company operated 13 restaurants as of December 31, 2020, down from 25 restaurants a year earlier, with 4 restaurants closed or sold during the period[28] - The group operates 13 restaurants in Hong Kong, including 9 full-service restaurants and 4 bakeries as of December 31, 2020[44] - The group has established a holding company in Beijing with an 80% stake, registered capital of RMB 1.85 million, focusing on hot pot business, which commenced operations in January 2021[45] - The group is developing a one-stop financial service platform for financial practitioners, anticipating significant revenue growth from this business[45] - The company has implemented comprehensive risk assessments and contingency plans to mitigate the adverse effects of COVID-19 on its operations[26] - The company continues to focus on providing quality meals and exceptional dining experiences despite the challenges posed by the pandemic[26] - The company is actively implementing cost control measures and adjusting business strategies in response to the ongoing COVID-19 pandemic[63] Expenses and Financial Management - Employee benefit expenses decreased from approximately 134.6 million HKD to approximately 52.4 million HKD, a reduction of about 82.2 million HKD, due to restaurant closures and staff reductions[37] - Rental and related expenses decreased to approximately 31.0 million HKD from approximately 75.1 million HKD, primarily due to restaurant closures and rental concessions during COVID-19[38] - Other expenses decreased from approximately 64.6 million HKD to approximately 8.2 million HKD, representing about 16.9% and 7.4% of total revenue for the respective periods[39] - Financial costs decreased due to reduced lease agreements following restaurant closures and sales[41] - The company received a one-time subsidy of approximately 18.1 million HKD under the "Employment Support" scheme[43] Compliance and Governance - The company confirmed that the accounting policies used in the preparation of the financial statements are consistent with those adopted in the previous year[13] - The company has adopted the GEM Listing Rules regarding securities trading and confirmed compliance by all directors for the nine months ending December 31, 2020[56] - The audit committee reviewed the unaudited consolidated results for the nine months ending December 31, 2020, ensuring compliance with applicable accounting standards and GEM Listing Rules[58] - The roles of the chairman and CEO are held by the same individual, James Lu, which the board believes provides strong and consistent leadership[57] Shareholder Information - As of December 31, 2020, major shareholders hold 607.6 million shares, representing 74.99% of the company's equity[47] - No stock options were granted, exercised, or canceled during the nine months ending December 31, 2020[52] - The group did not purchase, sell, or redeem any of its listed securities during the nine months ending December 31, 2020[53] - There were no significant contracts in which directors had a direct or indirect substantial interest during the nine months ending December 31, 2020[54] - No competition or conflict of interest was reported among directors or major shareholders during the nine months ending December 31, 2020[55] Impact of COVID-19 - The company has faced significant operational disruptions due to COVID-19, impacting its restaurant business in Hong Kong[63] - The company continues to monitor the impact of COVID-19 on its operations and financial performance, with no quantifiable impact currently estimable[63]

Financial Performance - The group's revenue for the six months ended September 30, 2020, was approximately HKD 70.1 million, a decrease of about 73.4% compared to the same period in 2019[9]. - The total loss and comprehensive loss for the six months ended September 30, 2020, was approximately HKD 20.3 million, representing a reduction of about 38.4% compared to the same period in 2019[9]. - The group reported a loss before tax of HKD 22.25 million for the six months ended September 30, 2020[10]. - The company reported a net loss of HKD 21,740,000 for the six months ended September 30, 2020, compared to a profit of HKD 37,639,000 for the same period in 2019[18]. - The group reported a total revenue of HKD 70,110,000 for the six months ended September 30, 2020, a decrease from HKD 263,553,000 in the same period of 2019, representing a decline of approximately 73%[24]. - The group incurred a loss before tax of HKD 22,250,000 for the period, compared to a profit in the previous year[31]. - The overall segment performance showed a loss before tax of HKD 31,775,000 for the period, with a total loss of HKD 33,511,000[33]. - The company reported a loss attributable to owners of approximately HKD 19.8 million for the six months ended September 30, 2020, a decrease from HKD 32.9 million for the same period in 2019, primarily due to cost control measures and government subsidies totaling approximately HKD 9.8 million[77]. Revenue Breakdown - Revenue from Italian restaurants was HKD 11,910,000 for the six months ended September 30, 2020, down from HKD 47,757,000 in 2019, a decrease of about 75%[24]. - Revenue from Western restaurants was HKD 52,398,000 for the same period, compared to HKD 177,200,000 in 2019, reflecting a decline of approximately 70%[24]. - Asian restaurant revenue fell to HKD 4,909,000 from HKD 35,821,000, marking a decrease of around 86%[24]. - The group reported no revenue from interior design and renovation services for the six months ended September 30, 2020, due to contract suspensions caused by COVID-19, compared to HKD 2.8 million in the same period of 2019[70]. - Revenue from organic vegetable consulting services was approximately HKD 0.9 million for the six months ended September 30, 2020, an increase from zero in the same period of 2019, due to business development[71]. Expenses and Liabilities - The group incurred employee benefit expenses of HKD 36.01 million for the six months ended September 30, 2020[10]. - Employee benefits expenses for the restaurant business decreased from approximately HKD 92.8 million in the six months ended September 30, 2019, to approximately HKD 34.2 million in the same period of 2020, a reduction of about 63.2%[73]. - Rental and related expenses for the restaurant business decreased to approximately HKD 19.9 million for the six months ended September 30, 2020, from approximately HKD 51.6 million in the same period of 2019, a decline of about 61.5%[74]. - Total liabilities increased to HKD 217,039,000 from HKD 200,292,000, marking an increase of 8.4%[14]. - The company's equity attributable to owners decreased to HKD (33,090,000) from HKD (12,813,000), indicating a worsening financial position[16]. Assets and Cash Flow - As of September 30, 2020, total assets amounted to HKD 198,106,000, a slight decrease from HKD 198,647,000 as of March 31, 2020[12]. - Cash and cash equivalents decreased to HKD 12,096,000 from HKD 26,877,000 as of March 31, 2020, reflecting a decline of 55.0%[18]. - Operating cash flow for the period was negative at HKD (7,001,000), contrasting with positive cash flow of HKD 37,639,000 in the previous year[18]. - The company's current liabilities exceeded current assets, resulting in a current ratio of 0.23 as of September 30, 2020, compared to 0.31 as of March 31, 2020[78]. Business Operations and Strategy - The group operated 13 restaurants as of September 30, 2020, down from 26 restaurants a year earlier, with 4 restaurants closed or sold during the period[66]. - The company is optimistic about launching new businesses in China, particularly in interior design and renovation services, due to increasing demand for quality services[79]. - The company has initiated the development of new consulting services related to organic vegetables, indicating a strategic shift towards diversification in its service offerings[71]. - The company has signed multiple business service contracts in the interior design sector, expected to generate revenue in the near future[79]. COVID-19 Impact - The COVID-19 pandemic has significantly disrupted the company's operations and restaurant development, leading to a continued decline in operational performance compared to the same period in 2019[105]. - The impact of COVID-19 has led to a decrease in revenue, with the company actively managing risks and developing contingency plans[64]. - The company has implemented cost control measures and adjusted business strategies in response to the ongoing COVID-19 situation, although the quantitative impact on 2020 performance remains unquantifiable[105]. Corporate Governance - The company has not separated the roles of Chairman and CEO, with James Lu serving in both positions, which the board believes provides strong and consistent leadership[101]. - Li Qing Ni was appointed as an executive director effective July 24, 2020, while Mr. Li Lun resigned as a non-executive director on the same date[102]. - The audit committee, consisting of independent non-executive directors, has reviewed the unaudited consolidated results for the six months ended September 30, 2020, ensuring compliance with applicable accounting standards and GEM listing rules[103].

Financial Performance - The group's revenue for the three months ended June 30, 2020, was approximately HKD 40.9 million, a decrease of about 71.8% compared to HKD 144.9 million in the same period of 2019[4] - The loss attributable to owners of the company for the three months ended June 30, 2020, was approximately HKD 7.1 million, a reduction of about 47.9% compared to HKD 13.6 million in the same period of 2019[4] - The group reported a loss before tax of HKD 8.3 million for the three months ended June 30, 2020, compared to a loss of HKD 12.8 million in the same period of 2019[5] - The total comprehensive loss for the three months ended June 30, 2020, was HKD 8.0 million, compared to HKD 13.9 million in the same period of 2019[5] - For the three months ended June 30, 2020, the company reported a net loss of approximately HKD 8,014,000 compared to a net loss of HKD 13,677,000 for the same period in 2019, indicating an improvement in performance[13][22] - Total revenue for the three months ended June 30, 2020, was HKD 40,880,000, a significant decrease of 71.7% from HKD 144,864,000 in the same period of 2019[14] - The basic and diluted loss per share attributable to owners of the company for the three months ended June 30, 2020, was HKD 0.01, compared to HKD 0.02 in the same period of 2019[5] - Basic loss per share for the three months ended June 30, 2020, was HKD 0.01, compared to HKD 0.02 for the same period in 2019[22] Revenue Breakdown - Revenue from restaurant operations was HKD 40,407,000, down 72.0% from HKD 144,864,000 in the previous year, with specific declines in Italian, Western, and Asian cuisine segments[14] - Revenue from Western restaurants decreased by approximately HKD 65.1 million or 68.4%, from HKD 95.13 million in 2019 to HKD 30.02 million in 2020[28] - Revenue from Italian restaurants fell by approximately HKD 23.1 million or 76.1%, from HKD 30.41 million in 2019 to HKD 7.26 million in 2020[30] - Revenue from Asian restaurants decreased by approximately HKD 16.2 million or 83.8%, from HKD 19.32 million in 2019 to HKD 3.13 million in 2020[31] - The company did not recognize any revenue from interior design and renovation services due to contract suspensions caused by COVID-19[32] - The company signed service contracts worth approximately RMB 11.1 million (about HKD 12.1 million) for interior design and renovation services, but revenue was not recognized due to COVID-19[26] Cost Management - The cost of inventories consumed for the three months ended June 30, 2020, was HKD 9.6 million, down from HKD 35.0 million in the same period of 2019[5] - Employee benefit expenses for the three months ended June 30, 2020, were HKD 18.4 million, compared to HKD 51.0 million in the same period of 2019[5] - Other expenses for the three months ended June 30, 2020, were approximately HKD 2.3 million, a significant decrease from HKD 23.0 million in the same period of 2019, representing 5.7% of total revenue compared to 15.9% previously, mainly due to restaurant closures and cost control measures[38] - The loss attributable to owners of the company for the three months ended June 30, 2020, was approximately HKD 7.1 million, down from HKD 13.6 million for the same period in 2019, reflecting effective cost management strategies[41] - The company received a one-time subsidy of approximately HKD 4.7 million under the "Employment Support" scheme from the government, which contributed to the reduction in operating costs[42] Business Operations - The company operated 13 restaurants as of June 30, 2020, including 10 full-service restaurants and 3 bakeries, focusing on providing a variety of dishes at different price points to a broad customer base in Hong Kong[43] - For the three months ended June 30, 2020, the company operated 13 restaurants, a decrease from 27 restaurants in the same period of 2019, with three restaurants closed or sold[28] - The company is currently evaluating the impact of new and revised Hong Kong Financial Reporting Standards but has not identified any significant financial impact on its operations[13] - The company is optimistic about the prospects of launching new businesses in China, driven by increasing demand for quality interior design and renovation services, supported by signed service contracts expected to generate ongoing revenue[43] - The company is actively investing and developing new business areas, including a one-stop professional financial service platform for financial practitioners, in response to the increasing demand for quality ingredients and services[44] Impact of COVID-19 - The COVID-19 pandemic has significantly disrupted the restaurant business in Hong Kong, leading to a decline in operational performance since June 30, 2020[62] - The Hong Kong government implemented measures such as the prohibition of gatherings exceeding four people, impacting consumer sentiment and restaurant operations[62] - The company has actively adopted cost control measures to improve cash flow and adjust business strategies in response to the pandemic[62] - As of the report date, the company is unable to quantify the impact of COVID-19 on its 2020 performance[62] Shareholder Information - Major shareholders hold a total of 607,600,000 shares, representing approximately 74.99% of the company's equity[49] - No stock options were granted, exercised, or canceled under the pre-IPO stock option plan during the three months ended June 30, 2020[52] - The company did not repurchase any shares listed on GEM during the three months ended June 30, 2020[53] Board of Directors - The board of directors includes James Fu Bin Lu (Chairman and CEO), Li Qing Ni, and Long Hai, among others[63]

Financial Performance - The total revenue for the fiscal year ending March 31, 2020, was approximately HKD 452.1 million, a decrease of 23.7% from HKD 593.0 million in 2019[7]. - The pre-tax loss for the fiscal year was approximately HKD 132.2 million, compared to a pre-tax loss of HKD 22.1 million in 2019, indicating a significant increase in losses[7]. - The net loss attributable to the owners of the company for the year was approximately HKD 130.9 million, up from HKD 27.9 million in 2019[7]. - The revenue from Western restaurants decreased by HKD 44.6 million or 12.5%, from HKD 355.8 million to HKD 311.2 million due to the impact of COVID-19 and political protests[19]. - Revenue from Italian restaurants fell by HKD 69.4 million or 47.4%, from HKD 146.4 million to HKD 77.0 million, attributed to closures of restaurants in the previous fiscal year[20]. - Revenue from Asian restaurants decreased by HKD 32.0 million or 35.3%, from HKD 90.8 million to HKD 58.8 million, also due to restaurant closures[21]. - The group recorded a net loss of HKD 132,899,000 for the fiscal year ending March 31, 2020, with a total loss of HKD 12,813,000[198]. - Current liabilities exceeded current assets by HKD 105,110,000 as of March 31, 2020, indicating significant liquidity concerns[198]. - The group's operations were adversely affected by social events in Hong Kong and COVID-19 related restrictions during the reporting period[198]. Business Operations - The company operated 13 restaurants as of March 31, 2020, with 11 restaurants having closed or been sold during the fiscal year[8]. - The company is expanding its business strategy to include non-restaurant diversification and geographical expansion beyond Hong Kong[8]. - The company is implementing a new interior design and renovation business in China, although some projects have been delayed due to COVID-19[10]. - The company established two non-wholly owned subsidiaries in China for interior design and renovation services, with service contracts totaling approximately RMB 16.4 million (about HKD 18.4 million)[17]. - The company is developing a new logistics and logistics financing business, currently in its early stages[32]. - The group recorded an operating loss of approximately HKD 11.1 million from new interior design and renovation services launched in China[31]. - The company completed the acquisition of 70% of Shanghai Ai'e Agricultural Technology Co., Ltd. in November 2019, focusing on organic vegetable development and sales[10]. - The company completed a 70% equity acquisition of Ai E Company in November 2019, which is now consolidated in the financial statements[23]. Cost Management - The company is focusing on optimizing its cost structure and adjusting business strategies to mitigate risks from external factors such as protests and the COVID-19 pandemic[8]. - Cost of consumed inventory for the year ended March 31, 2020, was approximately HKD 111.9 million, accounting for 24.7% of total revenue, down from HKD 136.2 million and 23.0% in the previous year[24]. - Employee benefit expenses decreased from approximately HKD 190.2 million to HKD 180.3 million, primarily due to a reduction in staff numbers following restaurant closures[25]. - Other expenses decreased from approximately HKD 83.7 million to HKD 76.3 million, representing 14.1% and 16.9% of total revenue for the respective years[27]. - The group has implemented cost control measures to improve cash flow, including rearranging work priorities[52]. Corporate Governance - The company is focused on maintaining high standards of corporate governance to protect shareholder interests[62]. - The management is closely monitoring market conditions and adjusting business strategies in response to the pandemic[52]. - The company is committed to transparency, independence, accountability, and fairness in its governance practices[62]. - The board consists of six directors, including three independent non-executive directors, ensuring a diverse governance structure[66]. - The company has adopted the principles of corporate governance as per GEM Listing Rules Appendix 15, ensuring compliance with legal and business standards[63]. - The board has established three committees: Audit, Remuneration, and Nomination, to assist in overseeing management functions[64]. - The remuneration committee ensures that directors do not participate in determining their own remuneration, which is based on individual and company performance[79]. - The independent auditor confirmed compliance with ethical standards and independence from the group[197]. Environmental and Social Responsibility - The company has committed to environmental policies, including using recycled paper and adjusting air conditioning to 24 degrees Celsius in winter[106]. - The company is gradually transitioning takeaway packaging to paper materials to reduce plastic usage[172]. - The company has implemented measures to reduce emissions and has reported the outcomes of these initiatives[189]. - The company has established user management procedures to monitor user permissions and related user access[188]. - The company has a commitment to maintaining high food safety standards, adhering to relevant laws and regulations, and has received 26 service-related complaints during the fiscal year[182]. - The company donated a total of HKD 291,575 to improve literacy levels and gender equality education globally during the fiscal year ending March 31, 2020[184]. - The group made charitable donations totaling approximately HKD 292,000 for the year ending March 31, 2020, down from HKD 424,000 in the previous year[139]. Employee and Workplace Safety - The company has implemented health and safety measures in response to the COVID-19 pandemic, including providing protective equipment and conducting temperature checks for employees and customers[178]. - The company regularly reviews its training strategies to ensure employees are equipped with the necessary skills to provide quality service[179]. - The total employee count decreased to 484 from 725, with total employee costs approximately HKD 180,322,000, down from HKD 190,241,000[41]. - The company reported a total of 260 workdays lost due to occupational injuries or diseases during the fiscal year ending March 31, 2020[178]. - As of March 31, 2020, the company employed a total of 441 employees, with 51.7% being female (228) and 48.3% male (213)[176]. Risk Management - The company anticipates that the impact of COVID-19 will have long-term negative effects on the global economy and its business operations[15]. - The company is actively developing risk assessment plans to mitigate the adverse effects of COVID-19 on its operations[15]. - Key audit matters included the impairment assessment of underperforming restaurants, highlighting financial performance issues[200]. - The group faced significant uncertainty regarding its ability to continue as a going concern due to the reported losses and liabilities[198].