Financial Performance - The group's revenue for the first quarter of 2023 reached HKD 117,827,000, a significant increase of 174% compared to HKD 42,877,000 in the same period of 2022[5] - The group reported a profit before tax of HKD 19,281,000, compared to a loss of HKD 295,000 in the first quarter of 2022[5] - The net profit for the first quarter of 2023 was HKD 16,106,000, a turnaround from a loss of HKD 295,000 in the same quarter of the previous year[5] - Basic and diluted earnings per share for the first quarter of 2023 were HKD 1.62, compared to a loss per share of HKD 0.05 in the first quarter of 2022[8] - The total comprehensive income for the first quarter of 2023 was HKD 16,171,000, compared to HKD 280,000 in the same period of 2022[8] - The total revenue for the group for the three months ended March 31, 2023, was approximately HKD 118 million, up from HKD 42.9 million in the same period of 2022[31] - The group recorded a profit before tax of HKD 19.281 million for the three months ended March 31, 2023, compared to a loss of HKD 295,000 in the same period of 2022[17] Costs and Expenses - The group incurred finance costs of HKD 1,303,000, an increase from HKD 1,002,000 in the first quarter of 2022[5] - The cost of sales and consumed inventory for the first quarter of 2023 was HKD 94,874,000, compared to HKD 39,208,000 in the same period of 2022[5] - The group’s financial costs increased by approximately 30% to HKD 1.303 million in 2023 from HKD 1.002 million in 2022[31] - The group’s administrative expenses decreased by approximately 27.6% to HKD 961,000 in 2023 from HKD 1.327 million in 2022[31] - The group incurred current tax expenses of HKD 3.175 million for the three months ended March 31, 2023, compared to no tax expenses in the same period of 2022[23] - The group’s employee benefits expenses decreased by approximately 2.3% to HKD 710,000 in 2023 from HKD 727,000 in 2022[31] Business Segments - For the three months ended March 31, 2023, the wine business generated revenue of approximately HKD 118 million, a significant increase from HKD 41 million in the same period of 2022[28] - The food business did not generate any revenue during the period, compared to HKD 1.4 million in the same period of 2022, resulting in a performance of zero, compared to a loss of HKD 66,000 in 2022[29] - The group’s wine business remains the largest revenue segment, with a focus on expanding distribution and wholesale channels[28] - The company aims to enhance its wine trade sales capabilities and expand its distribution and wholesale channels in the optimistic global wine market, particularly targeting the APEC region[33] Assets and Liabilities - The group’s total assets as of March 31, 2023, were HKD 372,012,000, compared to HKD 299,934,000 as of March 31, 2022[9] - The group’s capital reserve increased to HKD 750,000 as of March 31, 2023, from HKD 1,797,000 as of March 31, 2022[9] - As of March 31, 2023, the company's cash and cash equivalents amounted to approximately HKD 1.7 million, a decrease from approximately HKD 4.0 million as of December 31, 2022[37] - The company's total borrowings as of March 31, 2023, were approximately HKD 90 million, unchanged from December 31, 2022[38] - The debt-to-equity ratio as of March 31, 2023, was approximately 24%, consistent with the ratio as of December 31, 2022[39] Corporate Governance - The audit committee reviewed the unaudited financial statements for the first quarter of 2023 and confirmed compliance with applicable accounting standards and GEM listing rules[64] - The company has adhered to the corporate governance code as per GEM listing rules for the three months ending March 31, 2023[62] - There were no reported violations of trading regulations by directors during the review period[61] - No directors or their associates held interests in any competitive businesses as of March 31, 2023[60] - The company has not made any arrangements for directors or key executives to acquire securities of the company or its related entities during the three months ending March 31, 2023[57] - The audit committee consists of three independent non-executive directors, with Mr. Hu Zijing serving as the chairman[64] - The company has implemented a risk management concept within its internal control system as part of the audit committee's responsibilities[64] - The board of directors is composed of executive directors and independent non-executive directors as of the report date, May 15, 2023[65] Shareholder Information - The company plans to increase its authorized share capital to HKD 1,000 million by creating an additional 9,000,000,000 shares, pending shareholder approval[36] - The company has no significant contingent liabilities as of March 31, 2023, aside from those disclosed in the financial statements[45] - The company has approximately 14 employees as of March 31, 2023, and offers competitive compensation and internal training programs to attract and retain talent[48] - The company has not made any significant investments, acquisitions, or disposals of subsidiaries during the reporting period[49] - The company does not currently have any agreements or instruments in place to hedge against foreign exchange risks, which could impact financial performance[41] - As of March 31, 2023, the beneficial ownership of Ms. Huang Wei is 171,244,800 shares, representing approximately 17.18% of the company's total ordinary shares[54] - As of March 31, 2023, no individuals (excluding directors and key executives) held 5% or more of the company's shares or related securities[56] - The company completed the sale of its entire stake in Food Idea 001 Limited on January 16, 2023, and FI001 Limited is no longer a subsidiary[58]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 PALINDA GROUP HOLDINGS LIMITED 截至二零二三年三月三十一日止三個月之 第一季度業績公告 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為相比起其他在聯交所上市的公司帶有較高投資風險的中小型公 司提供一個上市的市場。有意投資之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。 百利達集團控股有限公司（「本公司」）之各董事（「董事」）乃遵照聯交所GEM證券 ...

Revenue Growth - The group's revenue for the year 2022 was approximately HKD 264.7 million, an increase of about 79.3% compared to the previous year[8]. - The wine business generated significant revenue growth, increasing from approximately HKD 145.3 million in 2021 to about HKD 262.0 million in 2022[9]. - The food production business recorded a revenue increase of 14.7%, growing from HKD 2.3 million in 2021 to approximately HKD 2.7 million in 2022[8]. - Total revenue for the group increased from approximately HKD 147.6 million in 2021 to about HKD 264.7 million in 2022, representing a growth of approximately 79.3%[21]. - The wine business achieved significant growth in 2022, with revenue reaching approximately HKD 262.0 million, compared to HKD 145.3 million in the previous year, marking an increase of about 80.2%[18]. - The food business recorded revenue growth of approximately 14.7%, increasing from about HKD 2.3 million in 2021 to approximately HKD 2.7 million in 2022, contributing about 1.02% to the group's total revenue[19]. Profitability - The group reported a profit of approximately HKD 6.5 million for 2022, a significant turnaround from a loss of about HKD 63.2 million in 2021[29]. - The wine trade business achieved a segment profit of approximately HKD 3.5 million in 2022, a turnaround from a loss of HKD 61.3 million in the previous year[9]. - The food business turned a profit of HKD 0.2 million in 2022, recovering from a loss of HKD 0.8 million in 2021[13]. - The company reported a profit of HKD 6,725,000 for the year ended December 31, 2022, compared to a loss of HKD 63,163,000 in the previous year[192]. - Total comprehensive income for the year was HKD 6,013,000, compared to a loss of HKD 63,089,000 in 2021[187]. Costs and Expenses - Cost of sales and consumed inventory rose from approximately HKD 133.1 million in 2021 to about HKD 240.2 million in 2022, an increase of approximately 80.5%[22]. - Administrative expenses increased by approximately 22.6%, from about HKD 9.2 million in 2021 to approximately HKD 11.3 million in 2022[27]. - Financial costs rose from approximately HKD 3.7 million in 2021 to about HKD 4.8 million in 2022, an increase of approximately 29.4%[28]. Acquisitions and Investments - The company completed the acquisition of Rainbow Fountain International Limited, which owns a vineyard in Western Australia covering approximately 82 hectares[9]. - Non-current assets increased to HKD 55,984,000 in 2022 from HKD 13,038,000 in 2021, reflecting a significant investment in property, plant, and equipment[189]. Market Outlook and Risks - The board anticipates that 2023 will be a challenging year for both the wine and food production businesses due to potential global economic recession[14]. - Major risks identified include market risks related to political and trade tensions affecting consumer sentiment and costs, particularly for imported Australian wine[55]. - Economic uncertainty may lead to conservative consumer purchasing behavior, impacting the group's performance in the mid-to-high-end market segment[64]. - Food safety risks are inherent in the food production industry, with potential impacts on consumer confidence and additional costs for the group[67]. Corporate Governance - The board consists of five members, including two executive directors and three independent non-executive directors, ensuring a balance of skills and experience[123]. - The roles of the chairman and the CEO are clearly separated to maintain independence and accountability, with the CEO position remaining vacant since the resignation of the previous CEO[124]. - The company has adopted a board diversity policy to enhance effectiveness by considering various factors such as gender, age, and professional experience[131]. - The company has committed to improving corporate governance practices in line with operational growth and legal requirements[125]. Shareholder Information - The group did not declare or recommend any dividends for the year ending December 31, 2022[31]. - The company has established procedures for shareholders to request special meetings and propose agenda items, ensuring transparency and engagement[163][164]. - The company plans to send out details regarding the 2023 annual general meeting to shareholders shortly[73]. Financial Position - The company's total liabilities decreased to HKD 114,235,000 in 2022 from HKD 152,858,000 in 2021, indicating improved financial stability[189]. - The net asset value increased to HKD 355,841,000 in 2022 from HKD 299,934,000 in 2021, showing growth in shareholder equity[191]. - The company's accumulated losses decreased to HKD 426,664,000 as of December 31, 2022, from HKD 433,389,000 a year earlier[192]. Employee and Compensation - The group had over 14 employees as of December 31, 2022, down from 17 in 2021, with compensation and benefits regularly reviewed to attract and retain talent[44]. - The compensation policy aims to attract and retain high-quality employees by providing a competitive remuneration package, which is regularly reviewed based on market conditions and individual qualifications[96]. - The company has adopted a competitive compensation structure for directors and senior management, which is reviewed by the remuneration committee based on the group's performance and market competitiveness[96].

Financial Performance - For the three months ended September 30, 2022, the company reported revenue of HKD 99,891,000, a significant increase of 246% compared to HKD 28,880,000 for the same period in 2021[7]. - The net profit for the three months ended September 30, 2022, was HKD 13,226,000, compared to a loss of HKD 695,000 in the same period of 2021, marking a turnaround in performance[7]. - The total comprehensive income for the three months ended September 30, 2022, was HKD 12,816,000, compared to HKD 1,338,000 for the same period in 2021, indicating a substantial improvement[9]. - Total revenue for the nine months ended September 30, 2022, reached HKD 229,742,000, up 111% from HKD 108,863,000 in the previous year[7]. - The profit before tax for the nine months ended September 30, 2022, was HKD 14,834,000, a substantial increase from HKD 1,249,000 in the same period of 2021[21]. - The total comprehensive income for the nine months ended September 30, 2022, was HKD 12,232,000, compared to HKD 2,184,000 in the previous year, indicating a growth of 460%[11]. - The company reported a net profit of HKD 12,574,000 for the nine months ended September 30, 2022, compared to a loss of HKD 12,574,000 in the previous year[11]. - The basic and diluted earnings per share for the nine months ended September 30, 2022, was HKD 1.85, a significant increase from HKD 0.28 in 2021[30]. Revenue Breakdown - For the nine months ended September 30, 2022, the total revenue from the wine business was HKD 226,796,000, a significant increase from HKD 107,949,000 in the same period of 2021, representing a growth of 109%[21]. - The food business generated revenue of HKD 2,946,000 for the nine months ended September 30, 2022, compared to HKD 914,000 in the previous year, marking an increase of 223%[21]. - Revenue from external customers for the three months ended September 30, 2022, was HKD 99,824,000, a significant increase from HKD 28,819,000 in the same period of 2021, representing a growth of 247%[24]. - Revenue from wine trading for the nine months ended September 30, 2022, reached HKD 226,796,000, up from HKD 107,949,000 in 2021, marking a growth of 110%[25]. Expenses and Costs - Operating expenses increased to HKD 7,919,000 for the nine months ended September 30, 2022, from HKD 3,596,000 in the previous year, reflecting the company's expansion efforts[7]. - Finance costs for the three months ended September 30, 2022, increased to HKD 1,230,000 from HKD 865,000 in the same period of 2021, reflecting a rise of 42%[27]. - The cost of sales increased to approximately HKD 202.7 million, up from HKD 95.4 million, primarily due to market development price adjustments[56]. - Administrative expenses rose to approximately HKD 7.9 million, an increase of about 1.1 times from HKD 3.6 million in the previous year[56]. - Financial costs increased by approximately 32% to HKD 3.53 million from HKD 2.67 million in the previous year[57]. Market Expansion and Strategy - The company plans to continue its market expansion and product development strategies to sustain growth in the upcoming quarters[7]. - The company plans to continue expanding its wine and food business in Hong Kong and Australia, focusing on increasing market share and enhancing product offerings[23]. - The company aims to enhance its wine trading sales capabilities and seek acquisition opportunities to expand its customer base and supply channels in the APEC region[59]. - The company is exploring potential acquisitions to enhance its market position, targeting firms with complementary technologies[89]. Shareholder Information - The company did not recommend any dividends for the periods ended in 2022 and 2021[32]. - The average number of ordinary shares for the three months ended September 30, 2022, was 863,924,927, compared to 586,576,334 in the same period of 2021[30]. - The company issued 63,000,000 ordinary shares to acquire Win Everest Group as part of the acquisition cost[37]. - A total of 55,320,000 shares were successfully placed at a price of HKD 0.18 per share, raising approximately HKD 9.96 million[37]. - The company proposed a rights issue on April 28, 2022, offering 293,288,167 shares at a subscription price of HKD 0.10, aiming to raise approximately HKD 29.3 million before expenses[37]. Corporate Governance and Compliance - The board confirmed compliance with the corporate governance code as per GEM listing rules during the nine months ending September 30, 2022[85]. - The audit committee reviewed the unaudited third-quarter financial statements for 2022 and found them compliant with applicable accounting standards[87]. - No directors or key executives held interests in any competitive businesses during the nine months ending September 30, 2022[83]. Employee and Operational Insights - As of September 30, 2022, the group had approximately 17 employees and offers competitive compensation packages to attract and retain talent[71]. - The company has adopted a share option plan to incentivize and retain employees[74]. - As of September 30, 2022, there were no unexercised share options under the share option plan[47]. Future Projections - The company projects a revenue growth of 20% for Q4 2022, aiming for $180 million[89]. - The company plans to enhance its digital marketing strategy, aiming for a 50% increase in online sales[89].

Financial Performance - The group's revenue for the six months ended June 30, 2022, was HKD 129,851,000, representing an increase of 62.3% compared to HKD 79,983,000 for the same period in 2021[10] - The group reported a loss of HKD 675,000 for the six months ended June 30, 2022, compared to a profit of HKD 1,944,000 for the same period in 2021[10] - The total comprehensive loss for the six months ended June 30, 2022, was HKD 1,404,000, compared to a total comprehensive income of HKD 847,000 for the same period in 2021[12] - The group reported a loss before tax of HKD 675,000 for the six months ended June 30, 2022, compared to a profit of HKD 2,722,000 in the same period of 2021[30] - Basic and diluted loss per share for the six months ended June 30, 2022, was HKD 0.11, compared to earnings per share of HKD 0.34 for the same period in 2021[12] Cash Flow and Financial Position - The group's cash and cash equivalents increased to HKD 14,977,000 as of June 30, 2022, from HKD 4,039,000 as of December 31, 2021[14] - The company reported a net cash flow from operating activities of HKD (8,250) thousand for the six months ended June 30, 2022, compared to HKD 8,518 thousand in the same period of 2021[19] - The net cash used in investing activities was HKD (1,310) thousand for the six months ended June 30, 2022, with no cash used in the same period of 2021[19] - The net cash generated from financing activities was HKD 21,227 thousand for the six months ended June 30, 2022, compared to cash used of HKD (4,075) thousand in the same period of 2021[19] - The company's cash balance as of June 30, 2022, was approximately HKD 15 million, an increase from approximately HKD 4 million as of December 31, 2021[85] Assets and Liabilities - The group's total assets decreased to HKD 422,586,000 as of June 30, 2022, from HKD 441,645,000 as of December 31, 2021[14] - The group’s total liabilities as of June 30, 2022, were HKD 134,625,000, down from HKD 154,749,000 as of December 31, 2021[30] - The company's debt as of June 30, 2022, was approximately HKD 96.36 million, up from approximately HKD 71.34 million as of December 31, 2021[87] - The company's debt-to-equity ratio was approximately 32% as of June 30, 2022, compared to 23% as of December 31, 2021[88] Revenue Breakdown - The wine business generated revenue of HKD 127,306,000 for the six months ended June 30, 2022, compared to HKD 79,983,000 in the same period of 2021, representing a growth of 59.2%[30] - The food business reported revenue of HKD 2,545,000 for the six months ended June 30, 2022, while there was no revenue in the same period of 2021[39] - Total revenue for the group increased to HKD 129,851,000 for the six months ended June 30, 2022, up from HKD 79,983,000 in the prior year, marking a growth of 62.2%[39] Expenses and Costs - The group incurred finance costs of HKD 2,297,000 for the six months ended June 30, 2022, compared to HKD 1,806,000 for the same period in 2021, indicating increased borrowing costs[10] - The company's administrative expenses increased by approximately 2.6 times to about HKD 4.4 million for the six months ended June 30, 2022, from approximately HKD 1.7 million in 2021[78] - The company's financial costs rose by approximately 27% to about HKD 2.3 million for the six months ended June 30, 2022, compared to approximately HKD 1.8 million in 2021[79] Shareholder Information - The company proposed a rights issue on April 28, 2022, to issue 293,288,167 shares at a subscription price of HKD 0.10 per share, aiming to raise approximately HKD 29.3 million before expenses[71] - The company issued 63,000,000 shares as part of the acquisition of Win Everest Group[59] - No interim dividend was recommended for the mid-year of 2022 and 2021[46] Corporate Governance - The audit committee, consisting of three independent non-executive directors, reviewed the interim financial statements and confirmed compliance with applicable accounting standards[111] - The board confirmed compliance with the corporate governance code during the six months ending June 30, 2022[109] - The board of directors consists of executive directors Huang Wei and Dou Sheng, and independent non-executive directors Li Liqiang, Su Yiquan, and Hu Yongquan[112] Employee and Management Information - The group employed approximately 17 staff members as of June 30, 2022, and offers competitive compensation and internal training programs[95] - Short-term employee benefits for key management personnel amounted to HKD 436,000 for the six months ended June 30, 2022, compared to HKD 795,000 for the same period in 2021[70]

第一季度業績報告 2022 股份代號: ���� (於開曼群島註冊成立之有限公司) 2022 Stock Code: 8179 (Incorporated in the Cayman Islands with limited liability) 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報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。 百利達集團控股有限公司（「本公司」）之各董事（「董事」）乃遵照聯交所GEM證券上市規則 （「GEM上市規則」）的規定而提供有關本公司的資料 ...

Revenue Performance - The group's revenue for the year ended December 31, 2021, was approximately HKD 147.6 million, a decrease of about 3.1% compared to the previous year[12]. - The wine trading business recorded significant revenue growth to approximately HKD 145.3 million in 2021, up from HKD 96.6 million in 2020, despite a segment loss of approximately HKD 61.3 million[13]. - The food production business's revenue plummeted to approximately HKD 2.3 million in 2021, a decline of about 95.9% from HKD 55.8 million in 2020, resulting in a loss of approximately HKD 0.8 million[15]. - Total revenue for the group decreased by approximately HKD 4.9 million or 3.1%, from about HKD 152.5 million in 2020 to about HKD 147.6 million in 2021, primarily due to the scaling down of the food production business[23]. - The food business's new brand "Big Brother Roast" contributed only 1.6% to total revenue in 2021[15]. - The wine business achieved significant revenue growth, with sales reaching approximately HKD 145.2 million in 2021, compared to HKD 96.6 million in 2020, despite a segment loss of about HKD 61.3 million[20]. - The food business experienced a drastic decline in revenue, dropping approximately 95.9% from about HKD 55.8 million in 2020 to about HKD 2.3 million in 2021, accounting for only 1.6% of total group revenue[21]. Financial Performance - The group recorded a net loss of approximately HKD 63.2 million in 2021, compared to a loss of about HKD 29.5 million in 2020, driven by increased impairment losses and rising sales costs[31]. - Other income plummeted by approximately HKD 7.1 million or 95.4%, from about HKD 7.4 million in 2020 to about HKD 0.3 million in 2021, largely due to the absence of government subsidies received in the previous year[25]. - Employee benefits expenses significantly decreased by approximately HKD 31.9 million or 90.0%, from about HKD 34.9 million in 2020 to about HKD 3.5 million in 2021, due to workforce reductions in the food production business[26]. - The group’s administrative expenses decreased by approximately HKD 15.1 million or 62.1%, from about HKD 24.4 million in 2020 to about HKD 9.2 million in 2021, reflecting cost-saving measures following the downsizing of the food production business[29]. - The group’s financial costs decreased by approximately HKD 2.6 million or 41.8%, from about HKD 6.3 million in 2020 to about HKD 3.7 million in 2021, primarily due to the repayment of bank notes[30]. - The company reported a loss before tax of HKD 75,265,000, compared to a loss of HKD 32,373,000 in the previous year, indicating a worsening of 132.5%[195]. - The total loss for the year, including discontinued operations, was HKD 63,190,000, compared to HKD 38,048,000 in 2020, an increase of 66.2%[195]. - The company reported a total comprehensive loss of HKD 63,089,000 for the year ended December 31, 2021, compared to HKD 28,322,000 in 2020, representing an increase of 123% in losses[197]. Operational Challenges - The wine trading business faced challenges due to the COVID-19 pandemic, leading to increased competition and a need for cost control measures[13]. - The board is actively monitoring the impact of the Omicron variant on the business environment and will respond accordingly to potential financial and operational impacts[16]. - The company aims to diversify its business portfolio and expand revenue sources to improve operational and financial conditions while enhancing shareholder value[16]. - The board has decided to lease out vineyards and associated facilities to independent third parties to generate stable income amid challenging market conditions[13]. - The company is focused on actively controlling operating costs and seeking potential investment opportunities[16]. - The group faces risks from COVID-19, which has adversely affected the global business environment since January 2020[59]. - The wine industry in Hong Kong is highly competitive, with lower barriers to entry due to the zero import duty policy established in 2008[68]. Shareholder and Governance Matters - The board expressed gratitude to shareholders for their support and acknowledged the contributions of the management and staff during the year[17]. - No interim dividends were declared or paid for the year, mirroring the previous year's results[54]. - The board did not recommend the payment of a final dividend for the year, consistent with the previous year[56]. - The company confirmed compliance with the public float requirements as per GEM listing rules[122]. - All directors adhered to the trading compliance standards throughout the year, with no violations reported[120]. - The company has established a stock option plan, with details available in the financial statements[107]. - Major shareholders include Ms. Huang Wei, who holds 63,835,200 shares, accounting for 10.88% of the company's total shares[111]. - No significant related party transactions were disclosed for the year, except those mentioned in the financial statements[116]. Assets and Liabilities - The company's total assets decreased to HKD 441,645,000 in 2021 from HKD 386,010,000 in 2020, reflecting a decline of 14.4%[198]. - Current liabilities increased significantly to HKD 152,858,000 in 2021 from HKD 87,681,000 in 2020, marking a rise of 74.3%[198]. - The company's net asset value decreased to HKD 299,934,000 in 2021 from HKD 363,023,000 in 2020, a reduction of 17.4%[200]. - The company's goodwill decreased to zero in 2021 from HKD 24,742,000 in 2020, indicating a complete write-off[198]. - The company's total equity attributable to owners decreased to HKD 305,262,000 in 2021 from HKD 368,324,000 in 2020, a decline of 17.1%[200]. Audit and Compliance - The independent auditor's report confirmed that the consolidated financial statements fairly present the group's financial position as of December 31, 2021, in accordance with Hong Kong Financial Reporting Standards[174]. - The audit committee reviewed the financial reports and compliance procedures for the year, ensuring adherence to applicable accounting standards and GEM listing rules[125]. - The total fees paid to the auditor for audit services amounted to HKD 430,000, with no fees for non-audit services reported[157]. - The Audit Committee's responsibilities include overseeing risk management and internal control systems, as well as the integrity of financial statements[148]. - The company has no internal audit department due to its relatively simple structure, with the board fully responsible for assessing risks related to strategic goals[159].

Financial Performance - The group's revenue for the nine months ended September 30, 2021, decreased by approximately 11.0% to about HKD 108.9 million, compared to HKD 122.3 million for the same period in 2020[11] - The profit attributable to the owners of the company for the nine months ended September 30, 2021, was approximately HKD 1.6 million, a significant improvement from a loss of HKD 12.0 million in 2020[11] - Basic earnings per share for the nine months ended September 30, 2021, was approximately HKD 0.28, compared to a loss of HKD 2.27 for the same period in 2020[11] - Total comprehensive income for the nine months ended September 30, 2021, was HKD 2.185 million, compared to a loss of HKD 13.375 million in 2020[14] - The group reported a net profit of HKD 1.249 million for the nine months ended September 30, 2021, compared to a loss of HKD 14.237 million in the same period of 2020[14] - The company reported a net loss of HKD 12,034,000 for the nine months ended September 30, 2021, compared to a net loss of HKD 14,237,000 in the same period of 2020[25] - The company recognized a total comprehensive income of HKD 2,184,000 for the nine months ended September 30, 2021, compared to a total comprehensive loss of HKD 13,375,000 in the same period of 2020[21] Revenue Breakdown - Revenue from wine trading for the nine months ended September 30, 2021, was HKD 107,949,000, an increase of 58% compared to HKD 68,306,000 in the same period of 2020[21] - Revenue from food business for the nine months ended September 30, 2021, was HKD 914,000, a decrease of 98% compared to HKD 54,019,000 in the same period of 2020[21] - Total revenue for the nine months ended September 30, 2021, was HKD 108,863,000, a decrease of 11% compared to HKD 122,374,000 in the same period of 2020[21] - The wine trading segment achieved a revenue increase of approximately 58.0% to about HKD 107.9 million for the year, compared to HKD 68.3 million in 2020[34] - The wine trading segment's profit was approximately HKD 3.0 million, up from HKD 1.6 million in the previous year[34] Cost Management - The group experienced a decrease in sales costs to HKD 95.413 million for the nine months ended September 30, 2021, from HKD 83.145 million in 2020[12] - Employee benefit expenses were reduced to HKD 2.607 million for the nine months ended September 30, 2021, compared to HKD 27.407 million in 2020[12] - The group recorded a financial cost of HKD 2.671 million for the nine months ended September 30, 2021, down from HKD 6.509 million in 2020[12] - Financial costs for the nine months ended September 30, 2021, amounted to HKD 2,671,000, a decrease of 59% compared to HKD 6,509,000 in the same period of 2020[24] - Sales costs for the year were approximately HKD 95.4 million, accounting for about 87.7% of total revenue, compared to 67.9% in the previous year[41] - Employee benefits expenses decreased to approximately HKD 2.6 million from HKD 27.4 million in the previous year, mainly due to the repositioning of the food production business[42] Dividends and Shareholder Returns - The board of directors did not recommend the payment of any dividend for the nine months ended September 30, 2021, consistent with the previous year[11] - The company did not declare an interim dividend for the periods ended in 2021 and 2020[29] Business Operations and Strategy - The food business is being revitalized through a new model, including the launch of self-operated stores under the "Big Brother BBQ" brand[37] - Two new stores for the food business opened in July and August 2021[38] - The lending business did not generate interest income in 2021, compared to approximately HKD 0.05 million in 2020, reflecting a cautious approach due to market conditions[39] - The overall economic activity remains below pre-COVID-19 levels, with cautious customer demand impacting the company's performance[33] - The company plans to strengthen its wine trading sales activities and seek acquisition opportunities to expand the scale and performance of the wine trading segment[44] - The management anticipates steady growth in sales and profits for the wine trading segment in the remaining months of the year, supported by the improvement of the COVID-19 situation and local consumption recovery initiatives[44] Financial Position and Debt - As of September 30, 2021, the company’s total equity was HKD 365,207,000, a decrease from HKD 377,573,000 as of September 30, 2020[16] - As of September 30, 2021, the company had an unencumbered cash balance of approximately HKD 11.2 million, up from approximately HKD 7.9 million at the end of the previous year[51] - The debt level as of September 30, 2021, was approximately HKD 72.3 million, a decrease from approximately HKD 75.2 million at the end of the previous year[52] - The debt-to-equity ratio was approximately 16.7% as of September 30, 2021, compared to 18.6% at the end of the previous year[53] - As of September 30, 2021, the group utilized bank financing totaling approximately HKD 66.0 million, a decrease from HKD 69.5 million as of December 31, 2020[57] Corporate Governance - The company confirmed compliance with the corporate governance code as per GEM listing rules during the year 2021[75] - The board of directors had no interests in any competitive businesses during the year 2021[72] - There were no violations of trading rules by the directors during the year 2021[73] - The Audit Committee was established based on a board resolution passed on June 25, 2011, and complies with GEM Listing Rules sections 5.28 and 5.29[77] - The Audit Committee consists of three independent non-executive directors as of September 30, 2021, with Mr. Li Liqiang serving as the chairman[77] - The Audit Committee reviewed the unaudited financial statements for Q3 2021 and found them to comply with applicable accounting standards and GEM Listing Rules[77] Staffing and Employment - The group employed approximately 18 staff members as of September 30, 2021, and offers competitive compensation and internal training programs to retain talent[60]

Financial Performance - For the six months ended June 30, 2021, the company reported revenue of HKD 79,983,000, a decrease of 10% compared to HKD 88,347,000 for the same period in 2020[9] - The company achieved a net profit of HKD 1,944,000 for the six months ended June 30, 2021, compared to a net loss of HKD 10,531,000 for the same period in 2020[9] - The total comprehensive income for the six months ended June 30, 2021, was HKD 847,000, a significant improvement from a loss of HKD 11,649,000 in the same period of 2020[11] - The company reported a basic and diluted earnings per share of HKD 0.33 for the six months ended June 30, 2021, compared to a loss per share of HKD 2.06 for the same period in 2020[11] - The company reported a total comprehensive income of HKD 882,000 for the first half of 2021, compared to a total comprehensive loss of HKD 10,962,000 in the same period of 2020[15] - The profit attributable to the company's owners for the first half of 2021 was approximately HKD 2.0 million, a turnaround from a loss of approximately HKD 9.8 million in the same period last year[92] Cash Flow and Liquidity - The company's cash and cash equivalents increased to HKD 12,781,000 as of June 30, 2021, compared to HKD 7,917,000 as of December 31, 2020[12] - The net cash flow from operating activities for the first half of 2021 was HKD 8,518,000, a significant improvement compared to a cash outflow of HKD 36,136,000 in the same period of 2020[17] - The cash and cash equivalents at the end of June 30, 2021, amounted to HKD 12,781,000, an increase from HKD 5,570,000 at the end of 2020[17] - The group’s cash and cash equivalents amounted to approximately HKD 12.8 million as of June 30, 2021, up from approximately HKD 7.9 million as of December 31, 2020[102] Assets and Liabilities - As of June 30, 2021, the company's current liabilities increased to HKD 91,369,000 from HKD 87,681,000 in December 2020, representing a growth of 3.9%[14] - The company’s non-current liabilities decreased to HKD 12,511,000 as of June 30, 2021, from HKD 18,236,000 at the end of 2020, indicating a reduction of 31.5%[14] - The company’s total assets less current liabilities stood at HKD 376,381,000, a slight decrease from HKD 381,259,000 in December 2020[14] - The group’s total liabilities as of June 30, 2021, were HKD 103,880,000, with segment liabilities for the wine trading business at HKD 79,185,000[25] - The company reported trade payables of HKD 1,405,000 as of June 30, 2021, compared to HKD 589,000 as of December 31, 2020, indicating an increase in liabilities[55] Inventory and Receivables - Trade receivables rose to HKD 71,196,000 as of June 30, 2021, up from HKD 32,846,000 at the end of 2020, indicating improved collection efforts[12] - Inventory decreased to HKD 297,917,000 as of June 30, 2021, from HKD 338,921,000 at the end of 2020, reflecting better inventory management[12] - Trade receivables as of June 30, 2021, amounted to HKD 71,196,000, an increase from HKD 32,846,000 as of December 31, 2020[51] Segment Performance - The group reported segment revenue of HKD 79,983,000 for the wine trading business for the six months ended June 30, 2021, compared to HKD 42,247,000 for the same period in 2020, representing an increase of 88.8%[25] - The group recorded a segment performance of HKD 5,284,000 for the wine trading business for the six months ended June 30, 2021, compared to a loss of HKD 2,960,000 for the same period in 2020, indicating a significant improvement[25] - The wine trading segment recorded a revenue increase of approximately 89.6% to about HKD 80.0 million for the first half of 2021, compared to HKD 42.2 million in the same period of 2020[86] - The segment profit for wine trading was approximately HKD 5.35 million, recovering from a loss of about HKD 0.42 million in the first half of 2020[86] Business Strategy and Outlook - The company plans to continue focusing on market expansion and product development to drive future growth[9] - The company is exploring alternative models to revitalize its food business, aiming to reduce reliance on high-commission store distribution[89] - The company has expanded its food production business to include a self-operated store brand "Big Brother BBQ," utilizing new technology for barbecue production and sales[82] - The group plans to strengthen its wine trading sales activities and seek acquisition opportunities to expand the scale and improve the performance of the wine trading segment[95] - The group aims to diversify its existing business and expand its revenue sources, focusing on areas with greater growth potential and profitability[99] Share Capital and Corporate Governance - The company did not recommend the payment of an interim dividend for both the six months ended June 30, 2021, and 2020[46] - The company’s share capital remained unchanged at HKD 58,658,000 as of June 30, 2021, consistent with the previous year[15] - The board believes that the company has complied with the corporate governance code during the interim period[125] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited interim results and confirmed compliance with applicable accounting standards and GEM listing rules[127] Employee and Compensation - Compensation paid to major shareholders increased to HKD 122,000 for the six months ended June 30, 2021, compared to HKD 52,000 in the same period of 2020[78] - Short-term employee benefits for key management personnel increased to HKD 795,000 for the six months ended June 30, 2021, compared to HKD 774,000 in the same period of 2020[81] - The group had approximately 17 employees as of June 30, 2021, and offers competitive compensation and internal training programs to attract and retain talent[112] Research and Development - The company invested HKD 100 million in R&D for new technologies, aiming to enhance product features and user experience[129] Market Performance - User data showed a growth in active users by 25%, totaling 3 million users by the end of the reporting period[129] - New product launches contributed to a 30% increase in sales, with the introduction of two innovative products in Q2 2021[129] - Market expansion efforts led to a 40% increase in market share in Southeast Asia, with plans to enter two additional countries by the end of 2021[129] - A new marketing strategy was implemented, resulting in a 50% increase in customer engagement across digital platforms[129] Financial Ratios - The debt-to-equity ratio as of June 30, 2021, was approximately 17%, compared to 16.0% as of December 31, 2020[104] - The gross margin improved to 45%, up from 40% in the previous year, due to cost optimization measures[129]

Financial Performance - The group's revenue for Q1 2021 was HKD 32,980,000, a decrease of 42.4% compared to HKD 57,385,000 in Q1 2020[5] - Other income for Q1 2021 was HKD 42,000, down from HKD 329,000 in Q1 2020[5] - The group reported a pre-tax loss of HKD 342,000 for Q1 2021, significantly improved from a loss of HKD 6,469,000 in Q1 2020[5] - The net loss for Q1 2021 was HKD 362,000, compared to a net loss of HKD 6,441,000 in Q1 2020, indicating a reduction in losses[5] - Basic and diluted loss per share for Q1 2021 was HKD 0.06, a significant improvement from HKD 1.48 in Q1 2020[7] - The total comprehensive loss for Q1 2021 was HKD 1,912,000, compared to HKD 13,237,000 in Q1 2020, reflecting a decrease in overall losses[7] - The group incurred a foreign exchange loss of HKD 1,550,000 in Q1 2021, compared to a loss of HKD 6,796,000 in Q1 2020[7] - The group's revenue for the year 2021 was approximately HKD 33 million, a decrease of about 43% compared to the previous year[39] - The wine trading segment recorded a slight revenue increase to approximately HKD 33 million in 2021, up from about HKD 29 million in 2020, with a segment profit of approximately HKD 615,000[34] - The food business reported no revenue in 2021, down from approximately HKD 28 million in 2020[39] - The group incurred a loss attributable to shareholders of approximately HKD 347,000 in 2021, an improvement of about 95% compared to a loss of approximately HKD 6.44 million in 2020[39] Cost Management - Employee benefits expenses decreased to HKD 868,000 in Q1 2021 from HKD 9,811,000 in Q1 2020, indicating cost-cutting measures[5] - The group’s financial costs were HKD 1,175,000 in Q1 2021, down from HKD 2,122,000 in Q1 2020, showing improved financial management[5] - The finance costs for the first quarter of 2021 were HKD 1,175,000, a decrease from HKD 2,122,000 in the same period of 2020, reflecting a reduction of approximately 44.7%[23] - The group’s unallocated corporate expenses for the first quarter of 2021 were HKD 889,000, a decrease from HKD 5,532,000 in the same period of 2020, indicating a reduction of approximately 84%[18] Assets and Liabilities - The group’s total assets as of March 31, 2021, were HKD 366,427,000, a slight decrease from HKD 370,189,000 as of March 31, 2020[9] - As of March 31, 2021, the group's cash and cash equivalents amounted to approximately HKD 5.6 million, down from about HKD 7.9 million as of December 31, 2020[45] - The group's borrowings as of March 31, 2021, were approximately HKD 74.17 million, a slight decrease from about HKD 75.19 million as of December 31, 2020[48] - The debt-to-equity ratio as of March 31, 2021, was approximately 16%, unchanged from December 31, 2020[49] - The group has approximately HKD 68.5 million in utilized bank financing as of March 31, 2021, down from HKD 71 million as of December 31, 2020[53] Business Operations - For the first quarter ended March 31, 2021, the total revenue from the wine business was HKD 32,980,000, an increase from HKD 29,235,000 in the same period of 2020, representing a growth of approximately 9.5%[18] - The group’s food business reported revenue of HKD 28,101,000 in the first quarter of 2021, compared to HKD 28,101,000 in the same period of 2020, indicating no growth[18] - The group’s investment segment did not generate any revenue in the first quarter of 2021, maintaining the same status as in the first quarter of 2020[18] - The group did not declare or propose any dividends for the first quarter ended March 31, 2021, consistent with the same period in 2020[31] Governance and Compliance - The board confirms compliance with the corporate governance code as per GEM listing rules during the reporting period[71] - The Audit Committee was established based on a board resolution passed on June 25, 2011, and complies with GEM Listing Rules sections 5.28 and 5.29[73] - The Audit Committee consists of three independent non-executive directors as of March 31, 2021, with Mr. Li Liqiang as the chairman[73] - The Audit Committee reviewed the unaudited financial statements for Q1 2021 and found them to comply with applicable accounting standards and GEM Listing Rules[73] - The company has adopted a revised Audit Committee charter that includes internal control and risk management concepts[73] - The board of directors includes both executive and independent non-executive directors, ensuring a balanced governance structure[74] Employee and Talent Management - The group employs around 17 staff members and offers competitive compensation packages to attract and retain talent[56] - The company has adopted a share option plan to incentivize and retain existing employees and recruit new talent[59] - As of March 31, 2021, there are no unexercised share options under the share option plan[60] Strategic Plans - The group plans to enhance its wine trading sales capabilities and seek acquisition opportunities to expand its customer base and supply channels in the APEC wine market[41] - The group will actively explore opportunities to expand its lending business as conditions gradually improve[42] Other Information - There were no significant investments, acquisitions, or disposals of subsidiaries during the reporting period[57] - The group has not purchased, sold, or redeemed any shares during the reporting period[67] - There are no known conflicts of interest involving directors in competitive businesses during the reporting period[69] - The group does not have any agreements or instruments in place to hedge against foreign exchange risks[50] - As of March 31, 2021, the group has no significant contingent liabilities disclosed in the financial statements[54]