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，並明確表示概不會就本公告全部或任何 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。 TASTY CONCEPTS HOLDING LIMITED 賞 之 味 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：8096） 截至2023年6月30日止三個月之第一季度業績公告 賞之味控股有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司及其附 屬公司（統稱為「本集團」）截至2023年6月30日止三個月的未經審核簡明綜合業績。 本公告載列本公司2023年第一季度報告全文，符合香港聯合交易所有限公司GEM 證券上市規則有關季度業績初步公告附載資料的相關規定。 承董事會命 賞之味控股有限公司 主席兼執行董事 鄧振豪 香港，2023年8月14日 於本公告日期，董事會成員包括執行董事鄧振豪先生及宋君媛女士；以及獨立非 ...

Financial Performance - Total revenue for the fiscal year ended March 31, 2023, was approximately HKD 42.3 million, a year-on-year increase of about 1.0% from HKD 41.9 million in 2022[9] - The group incurred a loss of approximately HKD 9.7 million for the year, a reduction from a loss of HKD 15.8 million in 2022, primarily due to decreased impairment losses on property and equipment[9] - The group's revenue increased by approximately 1.0% from about HKD 41.9 million for the year ended March 31, 2022, to about HKD 42.3 million for the year ended March 31, 2023[20] - Other income rose by approximately 4.6% from about HKD 1.7 million to about HKD 1.8 million, mainly due to increased government subsidies received under the "Anti-epidemic Fund" and "Employment Support Scheme"[22] - Employee costs increased by approximately 8.0% from about HKD 20.2 million to about HKD 21.9 million, with employee costs accounting for about 51.7% of revenue for the year ended March 31, 2023, compared to about 48.3% for the previous year[24] - Rental and related expenses decreased by approximately 26.1% from about HKD 2.5 million to about HKD 1.8 million, primarily due to lower rental costs from new lease agreements[26] - Depreciation and amortization expenses decreased by approximately 36.2% from about HKD 6.4 million to about HKD 4.1 million, mainly due to impairment losses recognized on certain properties and equipment[27] - Other expenses decreased by approximately 1.8% from about HKD 14.2 million to about HKD 14.0 million, benefiting from effective cost control measures implemented by the group[28] Business Operations - The group opened a new Japanese restaurant and a Sichuan restaurant in Tuen Mun in January 2023 to diversify its customer base[9] - The group operates a total of 6 ramen shops, 1 Hong Kong-style restaurant, 1 Sichuan restaurant, and 1 Japanese restaurant as of March 31, 2023[13] - The group generates revenue from franchising its brand in mainland China and Macau, as well as from licensing its trademarks for approved products[12] - The group continues to focus on providing high-quality "Hakata" Japanese ramen and excellent customer service, emphasizing quality control in ingredient sourcing and food processing[10] - The group aims to identify new opportunities to expand revenue sources while implementing cost control measures to reduce losses and maintain competitiveness[10] - The management plans to continue launching various promotional activities and collaborate closely with independent online delivery platforms to enhance customer spending[9] Risks and Challenges - Significant risks include maintaining effective quality control, labor shortages, rising employee costs, and reliance on a central kitchen for supply[14] - The management anticipates benefiting from the recovery of global travel and economic growth as travel restrictions are lifted[10] Management and Governance - The company has a diverse board with members possessing extensive experience in finance, media, and operations, enhancing strategic decision-making capabilities[70] - The management team has a strong educational background, with degrees from institutions such as Hong Kong Baptist University and Swinburne University of Technology[72][74] - The company is focused on expanding its market presence and enhancing operational efficiency through strategic leadership changes[71][73] - The board includes independent non-executive directors with significant industry experience, ensuring robust governance and oversight[63][67] - The company aims to leverage its management's expertise to drive growth and innovation in its core business areas[70] Shareholder Information - The company did not propose any final dividend for the fiscal year ending March 31, 2023, consistent with the previous year[42] - The company has a significant shareholder, Brilliant Trade, which holds 3,001,000 shares, representing 5.46% of the issued share capital[118] - The executive director, Mr. Tang Zhenhao, has a controlled corporation interest in Brilliant Trade, which also holds 5.46% of the company's shares[116] - The company has established a remuneration committee to review the remuneration policy based on operational performance and market practices[112] ESG and Sustainability - The ESG report covers the period from April 1, 2022, to March 31, 2023, and outlines the company's sustainability performance[189] - The company has established a sustainable development committee to oversee ESG initiatives and ensure integration into daily operations[196] - The report identifies key ESG risks based on business nature, geographical location, regulatory requirements, and stakeholder expectations[193] - The company is committed to providing high-quality and safe food products while complying with legal regulations[188] - The ESG report emphasizes the importance of stakeholder engagement in developing sustainable development plans and collecting feedback[198] - The company aims to enhance its ESG performance and resource efficiency through continuous improvement and stakeholder communication[198] Financial Position - As of March 31, 2023, the company's cash and bank balances amounted to approximately HKD 6.6 million, a decrease of about HKD 5.0 million from HKD 11.6 million in 2022[35] - The company's current ratio as of March 31, 2023, was approximately 0.7 times, down from 1.4 times in 2022, indicating a decline in liquidity[36] - The company's debt-to-equity ratio was approximately 3.9% as of March 31, 2023, compared to 13.6% in 2022, reflecting a decrease in leverage[36] - The company's distributable reserves as of March 31, 2023, amounted to approximately HKD 8.0 million, an increase from HKD 7.2 million in 2022[99] Corporate Governance - The company has established three board committees: the Remuneration Committee, the Nomination Committee, and the Audit Committee, each with clear written terms of reference[162] - The Audit Committee confirmed that the consolidated financial statements for the year ending March 31, 2023, meet applicable accounting standards and GEM listing rules[167] - The company emphasizes the importance of continuous professional development for directors, providing training on corporate governance updates[161] - The board is responsible for overseeing the company's overall strategy and business performance, including financial performance and risk management[135] Employee Relations - The company maintains good relationships with employees, customers, and suppliers, which are crucial for operational success[19] - Employee gender composition as of March 31, 2023, shows approximately 48% male and 52% female, reflecting a balanced gender diversity within the workforce[145]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不會就本公佈全部或任何 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。 TASTY CONCEPTS HOLDING LIMITED 賞 之 味 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：8096） 截至2023年3月31日止年度之 全年業績公佈 賞之味控股有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司及其附 屬公司（統稱為「本集團」）截至2023年3月31日止年度之全年業績。本公告載列本 公司2023年全年報告全文，符合香港聯合交易所有限公司GEM證券上市規則有關 全年業績初步公告附載資料的相關規定。 承董事會命 賞之味控股有限公司 主席兼執行董事 鄧振豪 香港，2023年6月28日 ...

Financial Performance - The group's revenue for the nine months ended December 31, 2022, was approximately HKD 29.3 million, a decrease of about 17.3% compared to the same period in 2021[5] - The loss for the nine months ended December 31, 2022, was approximately HKD 6.2 million, an increase of about 63.8% compared to the same period in 2021[5] - Revenue for the three months ended December 31, 2022, was HKD 8.45 million, down from HKD 10.81 million in the same period of 2021[7] - The total comprehensive loss for the nine months ended December 31, 2022, was HKD 6.22 million, compared to HKD 3.76 million in the same period of 2021[7] - The company reported a loss attributable to owners of the company of HKD 6.141 million for the nine months ended December 31, 2022, compared to a loss of HKD 3.794 million for the same period in 2021[26] - The company recorded a loss attributable to owners of approximately HKD 6.1 million for the nine months ended December 31, 2022, compared to HKD 3.8 million in 2021, primarily due to restaurant closures and strict pandemic measures[42] Revenue Breakdown - Revenue from Hong Kong operations for the nine months was HKD 27,055,000, down 14.4% from HKD 31,589,000 in the previous year[15] - Franchise fee income for the nine months was HKD 483,000, a decline of 30.2% from HKD 693,000 in the same period last year[15] - Revenue from China for the nine months was HKD 664,000, an increase of 15.9% from HKD 573,000 in the previous year[18] Expenses and Costs - The cost of inventory for the nine months ended December 31, 2022, was HKD 7.48 million, compared to HKD 8.33 million in the same period of 2021[7] - Employee costs for the nine months ended December 31, 2022, were HKD 15.16 million, slightly up from HKD 15.02 million in the same period of 2021[7] - The total employee costs increased from HKD 15.022 million in the nine months ended December 31, 2021, to HKD 17.177 million in the same period of 2022, representing an increase of approximately 14.3%[22] - Rental and related expenses rose by approximately HKD 0.3 million or 17.3% due to a new lease agreement established during the nine months ended December 31, 2022[36] - Other expenses decreased from approximately HKD 10.2 million to about HKD 8.7 million, a reduction of approximately 14.8%, primarily due to revenue decline and cost control measures[38] Other Income and Financial Metrics - The company reported other income of HKD 1.72 million for the nine months ended December 31, 2022, compared to HKD 0.46 million in the same period of 2021[7] - Government subsidies received amounted to HKD 1,456,000 for the nine months, compared to none in the previous year[20] - The company reported a net foreign exchange loss of HKD 24,000 for the nine months, contrasting with a gain of HKD 1,000 in the previous year[20] - Total other income for the nine months was HKD 1,716,000, significantly up from HKD 455,000 in the same period last year[20] Corporate Governance and Compliance - The company has adopted the GEM Listing Rules for securities trading by directors, confirming compliance during the nine months ended December 31, 2022[51] - The company has established an audit committee to oversee financial reporting and internal control processes, with members being independent non-executive directors[57] - The audit committee reviewed the financial performance and accounting principles for the nine months ended December 31, 2022, ensuring compliance with applicable standards[57] - The company emphasizes good corporate governance practices to enhance shareholder value and effective management[53] - The company deviated from the corporate governance code by having the same individual serve as both Chairman and CEO since February 1, 2022[55] Future Outlook and Strategy - The company aims to enhance operational efficiency and profitability while benefiting from the easing of travel restrictions globally starting in Q4 2022[43] - The company is actively seeking potential business opportunities and partnerships to expand revenue sources and improve shareholder returns[43] Shareholder Information - As of December 31, 2022, Mr. Tang Zhenhao held a 5.46% equity interest in the company through Brilliant Trade Enterprises Limited[44] - As of December 31, 2022, Brilliant Trade holds 3,001,000 shares, representing 5.46% of the company's equity[47] - No major shareholders or other individuals held or were deemed to hold interests in the company's shares exceeding 10% as of December 31, 2022[47] Miscellaneous - The company did not purchase, sell, or redeem any of its listed securities during the nine months ended December 31, 2022[49] - There were no competitive businesses or conflicts of interest involving directors or major shareholders during the nine months ended December 31, 2022[50] - There were no significant events occurring after December 31, 2022, up to the report date[56] - The company incurred a tax expense of HKD 47,000 for the nine months ended December 31, 2022, compared to HKD 131,000 for the same period in 2021[23] - Income tax expense for the nine months ended December 31, 2022, was approximately HKD 137,000, down from HKD 854,000 in 2021, mainly due to temporary differences in tax bases[41] - The company has not applied any new accounting standards that have been issued but not yet effective, expecting no significant impact on its financial performance[13] - The company continues to assess the impact of new accounting standards and anticipates no significant effects on its operational performance and financial position[13]

Financial Performance - The group's revenue for the six months ended September 30, 2022, was approximately HKD 20.9 million, a decrease of about 15.4% compared to the same period in 2021[9]. - The loss attributable to the owners of the company for the six months ended September 30, 2022, was approximately HKD 5.3 million, an increase of about 85.9% compared to the same period in 2021[9]. - The group incurred a pre-tax loss of HKD 5.24 million for the six months ended September 30, 2022, compared to a pre-tax loss of HKD 3.46 million for the same period in 2021[10]. - The company experienced a net loss of HKD 5,269,000 during the six-month period, which is an increase from a loss of HKD 2,834,000 in the previous year[15]. - Total revenue for the six months ended September 30, 2022, was HKD 20,893,000, down 15.5% from HKD 24,685,000 in the same period of 2021[23]. - Revenue from restaurant operations in Hong Kong was HKD 19,773,000 for the six months, a decrease of 10.5% from HKD 22,069,000 in the previous year[23]. - The company recorded a loss attributable to owners of approximately HKD 5.3 million for the six months ended September 30, 2022, compared to a loss of HKD 2.8 million in the previous year[58]. Assets and Liabilities - The total assets less current liabilities as of September 30, 2022, amounted to HKD 15.1 million, compared to HKD 8.8 million as of March 31, 2022[12]. - The net asset value as of September 30, 2022, was HKD 5.98 million, an increase from HKD 5.52 million as of March 31, 2022[12]. - The company's cash and cash equivalents as of September 30, 2022, were HKD 8.38 million, down from HKD 11.62 million as of March 31, 2022[12]. - The total equity attributable to the owners of the company as of September 30, 2022, was HKD 8.05 million, compared to HKD 7.49 million as of March 31, 2022[12]. - The company's total equity as of September 30, 2022, was HKD 5,977,000, a decrease from HKD 21,345,000 at the beginning of the period[13]. - Non-current assets as of September 30, 2022, were HKD 11,392,000, down from HKD 13,697,000 as of March 31, 2022[27]. Cash Flow - For the six months ended September 30, 2022, the company reported a net cash inflow from operating activities of HKD 2,211,000, compared to HKD 649,000 for the same period in 2021, representing a significant increase[15]. - The company incurred a net cash outflow from investing activities of HKD 490,000, an improvement from HKD 2,356,000 in the previous year[15]. - The company’s financing activities resulted in a cash outflow of HKD 4,958,000, slightly better than the HKD 5,430,000 outflow recorded in the same period last year[15]. - The company reported a decrease in cash and cash equivalents, ending the period with HKD 8,382,000, down from HKD 22,004,000 at the beginning of the period[16]. - The company's cash and bank balances were approximately HKD 22.0 million as of September 30, 2022, a decrease of about HKD 3.2 million from HKD 11.6 million on March 31, 2022[68]. Employee Costs - Total employee costs for the six months ended September 30, 2022, were HKD 10,421,000, slightly down from HKD 10,615,000 in 2021[32]. - The company’s short-term employee benefits for the six months ended September 30, 2022, were HKD 715,000, compared to HKD 3,578,000 for the same period in 2021[42]. - The company had a total of 78 employees as of September 30, 2022, down from 99 employees in 2021[86]. - Employee costs decreased by approximately 1.8% to HKD 10.4 million, with employee costs accounting for about 49.9% of revenue for the six months ended September 30, 2022, compared to 43.0% in the previous year[51]. Dividends and Shareholder Information - The board of directors did not recommend the payment of any dividends for the six months ended September 30, 2022 (2021: none)[9]. - The company has not reported any new product launches or significant market expansions during this period[17]. - The company has no plans to declare an interim dividend for the six months ended September 30, 2022[75]. - No major shareholders or individuals were identified as having interests that require disclosure under the Securities and Futures Ordinance as of September 30, 2022[93]. Corporate Governance - The company has adopted corporate governance practices in line with GEM Listing Rules, ensuring transparency and accountability to shareholders[98]. - The company deviated from the corporate governance code by having the same individual serve as both Chairman and CEO since February 1, 2022, which the board believes is in the company's best interest[99]. - The Audit Committee, consisting of independent non-executive directors, reviewed the financial reporting process and internal controls for the six-month period ending September 30, 2022[101].

2022/2023 第一季度報告 2022/2023 FIRST QUARTERLY REPORT 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，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主板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買賣的證券可能會較於主板買賣之證券承受較大的市場波動風險， 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 確表示概不就因本報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。 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，旨在提供有關賞之味控股有限公司（「本 公司」，聯同其附屬公司稱為「本集團」）的資料；本公司的董事（「董事」）願就本報告的資料共同及個別地承擔全 部責任。各董事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 ...

Financial Performance - Total revenue for the fiscal year ended March 31, 2022, was approximately HKD 41.9 million, a decrease of about 19.3% compared to HKD 51.9 million in 2021[9]. - The group reported a loss of approximately HKD 15.8 million for the year, an increase from a loss of HKD 13.4 million in 2021[9]. - The decline in revenue was primarily due to the closure of several restaurants and the impact of the COVID-19 pandemic, particularly the fifth wave outbreak in the fourth quarter of the fiscal year[9]. - Revenue from Hong Kong decreased from HKD 46.6 million in 2021 to HKD 37.3 million in 2022, while revenue from China dropped from HKD 2.2 million to HKD 0.6 million, and revenue from Macau increased from HKD 3.1 million to HKD 3.9 million[22][23]. - The group has transitioned all restaurants in China from self-operated to franchised, generating only franchise fees and consulting service income[21]. - The company recorded a loss of approximately HKD 15.8 million for the fiscal year ending March 31, 2022, an increase from a loss of HKD 13.4 million in the previous year[52]. - The expected revenue growth rate for the fiscal year ending March 31, 2022, is projected to be between 0% and 10.2%, with a specific estimate of 3.0% for Y1[43]. - The anticipated gross profit margin range is between 66.2% and 74.9% for the fiscal years 2022 to 2026[43]. - The expected gross profit margin for the fiscal year ending March 31, 2023, is projected to be between 60.5% and 75.0%[45]. Cost Management - The management is focused on identifying new opportunities to expand revenue sources while implementing cost control measures to reduce losses[12]. - The group launched various affordable meal sets to attract cost-conscious customers amid a challenging economic environment[10]. - Inventory costs decreased by approximately 15.8% from about HKD 12.1 million in 2021 to about HKD 10.2 million in 2022, with the cost-to-revenue ratio increasing from 23.3% to 24.3%[25]. - Employee costs decreased by about 9.9% from approximately HKD 22.5 million in 2021 to about HKD 20.2 million in 2022, with employee costs as a percentage of revenue increasing from 43.3% to 48.3%[28]. - Rental and related expenses decreased by approximately 36.0% from about HKD 3.8 million in 2021 to about HKD 2.5 million in 2022 due to the closure of several restaurants[29]. - Depreciation and amortization expenses decreased by approximately 42.6% from about HKD 13.1 million in 2021 to about HKD 7.4 million in 2022, mainly due to impairment losses recognized in the previous year[30]. - Other expenses decreased from approximately HKD 16.4 million for the year ended March 31, 2021, to approximately HKD 14.2 million for the year ended March 31, 2022, representing a reduction of about 13.6%[31]. - The company implemented multiple cost control measures, contributing to the reduction in variable operating expenses[31]. Operational Strategies - Collaboration with independent online delivery platforms has been strengthened to compensate for reduced dine-in revenue[10]. - The group has introduced attractive discounts for takeout and pre-packaged chilled ramen ordered through its website[10]. - The group continues to emphasize the quality of its "Hakata" Japanese ramen and customer service, ensuring a memorable dining experience[12]. - Management will continuously monitor market developments and adapt strategies accordingly to enhance food quality and customer service[78]. - The company is actively seeking potential business opportunities and partnerships to expand revenue sources and improve shareholder returns[79]. Management and Governance - The board is responsible for the group's environmental, social, and governance (ESG) strategy and reporting, ensuring compliance with relevant regulations[18]. - The company has established three board committees: the Remuneration Committee, the Nomination Committee, and the Audit Committee, to oversee specific areas of the company's affairs[186]. - The board of directors is responsible for overseeing the company's internal control, financial monitoring, and risk management systems, which are reviewed for effectiveness at least annually[200]. - The company has adopted the corporate governance code as per GEM listing rules and has complied with its provisions, except for a specific deviation noted[157]. - The board consists of at least one independent non-executive director with appropriate professional qualifications or accounting expertise, exceeding one-third of the board members[163]. Employee and Shareholder Information - The group had 76 employees as of March 31, 2022, down from 111 employees in the previous year[74]. - The company reported a distributable reserve of approximately HKD 7.2 million as of March 31, 2022, down from HKD 12.1 million in 2021[122]. - The company has granted a total of 50,000,000 share options to ten employees, with the exercise period from April 26, 2022, to April 25, 2024[62]. - The company has not declared a final dividend for the fiscal year ending March 31, 2022, compared to zero in the previous year[66]. - The company has adopted a general dividend policy aimed at providing shareholders with a share of the group's profits, subject to various considerations[103]. Future Outlook - The management remains optimistic about future opportunities despite ongoing uncertainties related to the COVID-19 pandemic[12]. - The impact of COVID-19 on the group's operations remains uncertain, with ongoing monitoring of the situation[61]. - The company acknowledges ongoing challenges in the restaurant industry due to the COVID-19 pandemic, despite signs of recovery in global travel and economic conditions[78].

Financial Performance - The group's revenue for the nine months ended December 31, 2021, was approximately HKD 35.5 million, a decrease of about 10.2% compared to the same period in 2020[4] - The group reported a loss of approximately HKD 3.8 million for the nine months ended December 31, 2021, compared to a profit of approximately HKD 2.5 million in the same period of 2020[4] - Revenue for the three months ended December 31, 2021, was HKD 10.8 million, down from HKD 14.5 million in the same period of 2020[6] - Total revenue for the nine months ended December 31, 2021, was HKD 35,494,000, a decrease of 10.3% compared to HKD 39,506,000 in the same period of 2020[18] - The total comprehensive loss for the nine months ended December 31, 2021, was HKD 3.8 million, compared to a total comprehensive income of HKD 2.5 million in the same period of 2020[8] - The company reported a loss attributable to owners of HKD 3,794,000 for the nine months ended December 31, 2021, compared to a profit of HKD 2,512,000 in 2020[31] - The group recorded a basic loss per share of HKD 0.76 for the nine months ended December 31, 2021, compared to a profit of HKD 0.50 per share in the same period of 2020[6] Revenue Breakdown - Revenue from Hong Kong restaurant operations for the nine months ended December 31, 2021, was HKD 31,589,000, a decrease of 12.7% compared to HKD 35,878,000 in the same period of 2020[18] - Revenue from food and related products sold to franchisees for the nine months ended December 31, 2021, increased to HKD 3,056,000, up 76.3% from HKD 1,732,000 in the same period of 2020[18] - The company's revenue from China operations was HKD 573,000 for the nine months ended December 31, 2021, a significant decrease from HKD 1,602,000 in 2020[22] - Revenue from Hong Kong operations fell from HKD 35.9 million in 2020 to HKD 31.6 million in 2021, a decline of approximately 11.9%[35] - Revenue from Macau increased significantly, rising from HKD 1.995 million in 2020 to HKD 3.314 million in 2021, representing a growth of approximately 66.1%[35] Costs and Expenses - The cost of inventory for the nine months ended December 31, 2021, was HKD 8.3 million, compared to HKD 8.8 million in the same period of 2020[6] - Employee costs for the nine months ended December 31, 2021, were HKD 15.0 million, down from HKD 16.6 million in the same period of 2020[6] - Other income decreased by approximately HKD 9.5 million, primarily due to a reduction in government subsidies received under the "Anti-epidemic Fund" and "Employment Support Scheme" by about HKD 7.3 million[38] - Rental and related expenses decreased by approximately HKD 0.8 million or 29.6%, due to the closure of several restaurants during the fiscal year[41] - Depreciation and amortization expenses decreased by approximately HKD 3.4 million or 42.6%, primarily due to impairment losses recognized on certain properties and equipment[43] - Financing costs for the nine months ended December 31, 2021, were approximately HKD 0.5 million, down from HKD 0.7 million in 2020[46] Dividends and Shareholder Information - The board of directors did not recommend any dividend payment for the nine months ended December 31, 2021 (2020: none)[4] - The company did not purchase, sell, or redeem any shares during the nine months ended December 31, 2021[59] - As of December 31, 2021, the major shareholders, including Mr. Tang and Mr. Tang, held 45.21% of the issued share capital through Brilliant Trade[53] - The shareholding of Mr. Tang and Mr. Tang decreased to 33.21% due to the sale of shares by Brilliant Trade[54] - The controlling shareholder, Brilliant Trade, sold 60,020,000 shares, representing approximately 12.0% of the company's total issued shares, at an average price of HKD 0.167 per share, totaling HKD 10,024,000[76] Corporate Governance and Compliance - The company has adopted the corporate governance code as per GEM Listing Rules and has complied with the relevant provisions, except for a deviation regarding the roles of Chairman and CEO[72][73] - The audit committee has been established in accordance with GEM listing rules, ensuring compliance with applicable accounting standards and regulations[80] - The financial performance for the nine months ending December 31, 2021, has been reviewed by the audit committee, confirming adherence to applicable accounting standards[80] - The audit committee consists of independent non-executive directors, ensuring proper oversight of financial reporting processes[80] - The board of directors includes both executive and independent non-executive members, ensuring a balanced governance structure[81] Operational Challenges and Future Plans - The ongoing COVID-19 pandemic has adversely affected the company's business and financial performance, particularly due to restrictions on dine-in services since January 2022[74] - The group faces significant challenges due to the resurgence of COVID-19 in Hong Kong, leading to strict social distancing measures and a substantial decrease in customer traffic[51] - The group aims to enhance operational efficiency and profitability by seizing every potential opportunity, with financial performance improving for most operating restaurants in the past months due to the local COVID-19 situation being under control[49] - The group plans to open a new Hong Kong-style restaurant in Central in January 2022, targeting office workers with affordable yet distinctive dishes, while diversifying its customer base[51] Legal and Litigation Matters - The company is involved in multiple claims related to rental arrears, with several cases still in process as of the report date[75] - The company is actively working with legal advisors to resolve ongoing litigation cases[75] - The company has disclosed all relevant financial impacts and potential claims in its consolidated financial statements[75]

Financial Performance - The group's revenue for the six months ended September 30, 2021, was approximately HKD 24.7 million, a decrease of about 1.4% compared to the same period in 2020[8]. - The loss for the six months ended September 30, 2021, was approximately HKD 2.8 million, while there was a profit of approximately HKD 0.8 million in the same period of 2020[8]. - The company recorded a total comprehensive loss of HKD 2,804,000 for the six months ended September 30, 2021, compared to a total comprehensive income of HKD 799,000 for the same period in 2020[14]. - Cumulative losses increased to HKD 60,176,000 as of September 30, 2021, compared to HKD 43,958,000 on April 1, 2020[14]. - For the six months ended September 30, 2021, the company reported a loss attributable to owners of HKD 2,834,000, compared to a profit of HKD 805,000 for the same period in 2020, representing a significant decline[38]. - The company reported a total of HKD 11,425,000 in revenue for the three months ended September 30, 2021, down from HKD 12,087,000 in the same period of 2020[30]. - Total revenue for the six months ended September 30, 2021, was approximately HKD 24.7 million, a decrease of 1.4% compared to HKD 25.0 million for the same period in 2020[61]. Assets and Liabilities - Total assets less current liabilities as of September 30, 2021, were HKD 25.4 million, down from HKD 31.4 million as of March 31, 2021[12]. - The net asset value as of September 30, 2021, was HKD 18.5 million, compared to HKD 21.3 million as of March 31, 2021[12]. - The group's total liabilities as of September 30, 2021, were HKD 27.6 million, compared to HKD 31.1 million as of March 31, 2021[12]. - The company's total equity decreased from HKD 34,826,000 on April 1, 2020, to HKD 21,345,000 on April 1, 2021, reflecting a decline of 38.9%[14]. - The group's current assets totaled approximately HKD 30.3 million and current liabilities were about HKD 20.7 million, resulting in a current ratio of approximately 1.5 times[84]. - The group's debt-to-equity ratio was approximately 7.7% as of September 30, 2021, down from 8.6% as of March 31, 2021[84]. Cash Flow - As of September 30, 2021, the company reported a net cash inflow from operating activities of HKD 649,000, a decrease of 81.9% compared to HKD 3,579,000 for the same period in 2020[16]. - The net cash outflow from investing activities was HKD 2,356,000, compared to HKD 2,059,000 in the previous year, indicating an increase of 14.4%[16]. - The net cash outflow from financing activities was HKD 5,430,000, up from HKD 4,578,000 in 2020, representing a rise of 18.6%[16]. - The total cash and cash equivalents decreased by HKD 7,137,000, from HKD 29,141,000 at the beginning of the period to HKD 22,004,000 at the end[16]. - As of September 30, 2021, the group's cash and bank balances were approximately HKD 22.0 million, a decrease of about HKD 7.1 million from HKD 29.1 million as of March 31, 2021[83]. Revenue Sources - Revenue from Hong Kong operations for the six months was HKD 22,081,000, down 3.4% from HKD 22,855,000 in the previous year[30]. - Revenue from food sales to franchisees increased to HKD 2,016,000 for the six months, compared to HKD 669,000 in the same period last year[26]. - Other income for the six months was HKD 239,000, significantly down from HKD 5,922,000 in the previous year, primarily due to the absence of government subsidies[32]. - Revenue from restaurants in Hong Kong and China decreased due to the closure of unprofitable restaurants and the expiration of lease agreements for some properties[60]. - Significant increase in revenue from the sale of food and related products to franchisees in Macau, as restaurants resumed normal operations after being closed due to the COVID-19 pandemic[60]. Employee Costs - The group's employee costs for the six months ended September 30, 2021, were approximately HKD 10.6 million, slightly decreased from HKD 10.7 million in the same period of 2020[10]. - Total employee costs for the six months ended September 30, 2021, were HKD 10,615,000, slightly down from HKD 10,657,000 in the previous year, indicating a marginal reduction of 0.4%[7]. - The company reported short-term employee benefits of HKD 3,527,000 for the six months ended September 30, 2021, compared to HKD 2,117,000 for the same period in 2020[51]. Dividends and Shareholder Returns - The board did not recommend any dividend payment for the six months ended September 30, 2021 (2020: none)[8]. - The group did not recommend any interim dividend for the six months ended September 30, 2021, consistent with the previous year[89]. Corporate Governance - The company emphasizes good corporate governance practices to enhance shareholder value and effective management[112]. - The company has established an audit committee in accordance with GEM listing rules, consisting of independent non-executive directors[113]. - The company has committed to transparency and accountability to all shareholders as part of its corporate governance principles[112]. - The compliance advisor has confirmed that there are no interests in the company's equity that require notification under GEM listing rules[111]. Future Plans and Strategies - The company plans to open new branches in Hong Kong, with 60.6% of the net proceeds (HKD 27.964 million) allocated for this purpose, of which HKD 13.981 million has been utilized[75]. - The company plans to collaborate with local street food vendors to diversify its customer base and create a new brand for traditional Hong Kong cuisine[81]. - The management continues to assess the timing and location for business expansion, considering the impact of the COVID-19 pandemic on operations[81]. - The company anticipates completing the remaining restaurant expansion plans by March 31, 2022, after delays caused by social events and the pandemic[75].

Financial Performance - The group's revenue for the three months ended June 30, 2021, was approximately HKD 13.3 million, an increase of about 2.3% compared to the same period in 2020[4] - The group reported a loss of approximately HKD 1.1 million for the three months ended June 30, 2021, compared to a profit of approximately HKD 0.3 million in the same period of 2020[4] - The total comprehensive loss for the period was HKD 1.108 million, compared to a total comprehensive income of HKD 0.346 million in the same period of 2020[6] - The company reported a loss attributable to owners of HKD 1,123,000 for the three months ended June 30, 2021, compared to a profit of HKD 340,000 in the same period of 2020[31] - Revenue for the three months ended June 30, 2021, increased by approximately 2.3% to HKD 13.3 million from HKD 13.0 million in the same period of 2020[35] Revenue Breakdown - Revenue for the three months ended June 30, 2021, was HKD 13,260,000, a slight increase from HKD 12,960,000 in the same period of 2020, representing a growth of approximately 2.3%[19] - The company generated HKD 951,000 in revenue from sales of food and related products to franchisees during the three months ended June 30, 2021, compared to no revenue in the same period of 2020[19] - Revenue from consulting services provided to franchisees was HKD 46,000 for the three months ended June 30, 2021, down from HKD 77,000 in the same period of 2020, a decrease of approximately 40.3%[19] - The company’s revenue from operations in Hong Kong was HKD 12,004,000 for the three months ended June 30, 2021, compared to HKD 12,183,000 in the same period of 2020, reflecting a decrease of about 1.5%[23] - The company’s revenue from operations in China was HKD 67,000 for the three months ended June 30, 2021, a significant decrease from HKD 762,000 in the same period of 2020, representing a decline of approximately 91.2%[23] Costs and Expenses - The cost of inventory for the three months ended June 30, 2021, was HKD 3.021 million, compared to HKD 2.492 million in the same period of 2020[6] - Employee costs for the three months ended June 30, 2021, amounted to HKD 6.034 million, an increase from HKD 5.555 million in the same period of 2020[6] - The cost of inventory for the three months ended June 30, 2021, rose by approximately HKD 0.5 million or 21.2% to HKD 3.0 million, with the cost of sold inventory representing 22.8% of total revenue[37] - Other income decreased by approximately HKD 2.4 million, primarily due to a reduction in government subsidies and rental concessions received[38] - Rental and related expenses decreased by approximately HKD 0.1 million or 12.3% for the three months ended June 30, 2021, due to fewer lease agreements as some restaurants were closed during the fiscal year[42] Shareholder Information - As of June 30, 2021, the company’s major shareholders, Mr. Tang Zhenhao and Mr. Tang Qingzhi, held 341,250,000 shares, representing 68.25% of the total issued share capital[54] - The shareholding of Brilliant Trade has decreased to 60.25% due to the sale of its beneficially owned shares[55] - The company is seeking shareholder approval to update the 10% limit for shares to be issued under the stock option plan[64] Corporate Governance - The company has established an audit committee to review and supervise the financial reporting process and internal control procedures[71] - The audit committee's members include independent non-executive directors, ensuring compliance with GEM listing rules[71] - The company has adhered to the corporate governance code as per GEM listing rules during the reporting period[70] Future Outlook - The group aims to enhance operational efficiency and profitability while adapting to changing consumer habits post-COVID-19, with a focus on takeout and packaged products[52] - The management acknowledges the ongoing risks of COVID-19 outbreaks and emphasizes the importance of food quality and service standards regardless of market conditions[53] - The group will actively seek potential business opportunities and partnerships to expand revenue sources and improve shareholder returns[53]