本公司已向联交所申请自2025年7月23日上午九时正起恢复股份在联交所买卖。 智通财经APP讯，CLASSIFIED GP(08232)及要约人THAC Group (BVI) Limited联合公布，于2025年6月 30日，卖方(作为卖方)与要约人(作为买方)订立买卖协议，卖方同意向要约人出售，而要约人同意收购 销售股份(占本联合公布日期本公司已发行股本约65.7%)，代价将于完成时由要约人向卖方结清。完成 于2025年7月21日落实。 于2025年7月21日落实完成后及于本联合公布日期，要约人及其一致行动人士持有3661.51万股股份，占 本联合公布日期本公司全部已发行股本的约 65.7%。 紧随完成后及于本联合公布日期，要约人及其一致行动人士于3661.51万股股份(占本公司已发行股本总 额约65.7%)中拥有权益。因此，根据收购守则规则26.1，要约人须就全部已发行股份(要约人及其一致行 动人士已拥有或同意收购者除外)提出强制性无条件现金要约。要约价为每股要约股份1.318港元，要约 价较2025年6月30日收市价每股1.09港元溢价约20.9%。 据悉，要约人董事为郭镇坤先生、陈焯熙先生及何嘉怡女 ...

Financial Performance - Total revenue for the year ended December 31, 2024, was approximately HKD 35.7 million, a decrease of 1.7% compared to HKD 36.4 million in 2023[12]. - The loss attributable to the owners of the company for the year was HKD 8.3 million, reduced from HKD 15.3 million in 2023, primarily due to the absence of inventory write-downs[12]. - The group reported a loss of approximately HKD 8,310,000 for the year ending December 31, 2024[195]. - The company reported a pre-tax loss of HKD 8,310,000 for 2024, improving from a loss of HKD 15,346,000 in 2023[179]. - Basic and diluted loss per share for the year was HKD 14.91, compared to HKD 49.05 in the previous year, indicating a significant reduction in losses[179]. - The company’s total equity attributable to owners decreased from HKD 17,819,000 in 2023 to HKD 9,509,000 in 2024, a decline of approximately 46.7%[183]. - The group incurred a net loss of approximately HKD 8,310,000 as of December 31, 2024, with total current liabilities amounting to HKD 17,797,000 and cash reserves of only HKD 815,000[162]. Assets and Liabilities - Non-current assets decreased from HKD 2.94 million in 2023 to HKD 1.27 million in 2024[19]. - Current assets decreased from HKD 32.99 million in 2023 to HKD 26.08 million in 2024[19]. - Total assets decreased from HKD 35.93 million in 2023 to HKD 27.34 million in 2024[19]. - Total liabilities decreased slightly from HKD 18.12 million in 2023 to HKD 17.83 million in 2024[19]. - Total liabilities decreased from HKD 18,115,000 in 2023 to HKD 17,833,000 in 2024, a reduction of approximately 1.56%[182]. - Current liabilities increased to HKD 17,797,000 in 2024 from HKD 16,640,000 in 2023, representing an increase of about 6.9%[181]. - The company’s total liabilities exceeded total assets, indicating potential concerns regarding its ability to continue as a going concern[178]. Operational Challenges - The management acknowledges ongoing challenges in the restaurant industry, including rising food costs and competition, which may adversely affect performance[13]. - The group is facing ongoing challenges in the Hong Kong restaurant industry, including rising food costs, rent, utilities, and labor costs, which are putting pressure on profit margins[20]. - The group recognizes the need for flexibility in marketing strategies and operational adaptability to navigate the challenging macro environment[20]. - The group anticipates that the transformation of the local consumption market will continue to impact its performance negatively[27]. Strategic Initiatives - The company plans to expand its takeaway product line and diversify promotional strategies to enhance overall business performance[14]. - The group has implemented strategic measures to increase revenue and reduce costs, including negotiating lower rents and achieving more favorable terms with suppliers[20]. - The group plans to closely monitor supplier pricing for raw materials to ensure competitive pricing and improve market share[25]. - The group aims to expand its takeaway product line and enhance existing restaurant facilities to attract more customers[26]. - The company is actively seeking opportunities to expand revenue sources and increase shareholder value[14]. Corporate Governance - The company has a strong governance structure with a diverse board comprising members with expertise in finance, law, and public service[35][36][37][38][39]. - The board includes members with significant academic and professional qualifications, ensuring informed decision-making[36][39]. - The company has adopted a board diversity policy effective from January 3, 2019, ensuring a balanced composition with diverse management experience and industry knowledge[46]. - The independent non-executive directors play a crucial role in providing strategic advice and ensuring high standards of financial reporting[48]. - The board of directors is responsible for guiding management and reviewing its efficiency, focusing on long-term shareholder value enhancement[43]. Shareholder Relations - The group acknowledges the importance of effective communication with shareholders to enhance investor relations[92]. - The board will consider various factors, including the group's overall financial condition and future cash needs, when declaring dividends[88]. - The group has adopted a dividend policy outlining the criteria and manner for declaring dividends since January 3, 2019[86]. - The group will not recommend any dividend payment for the year ending December 31, 2024[99]. Compliance and Risk Management - The company has a strict code of conduct for securities trading, ensuring compliance with the GEM Listing Rules[50]. - The company has confirmed that all independent non-executive directors are independent as of December 31, 2024, based on assessments by the nomination committee[48]. - The company has implemented appropriate procedures to safeguard its assets and ensure compliance with relevant laws and regulations[77]. - The independent auditor's report confirmed that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2024[160]. Future Outlook - The company is positioned for future growth with a strategic focus on expanding its market presence and enhancing its service offerings[35][38]. - The company's ability to continue as a going concern is dependent on the financial support from two major beneficial shareholders and the future economic outlook in Hong Kong[196]. - There is significant uncertainty regarding the group's ability to continue operations, which may affect the realization of assets and settlement of liabilities[196]. - The overall economic outlook in Hong Kong and consumer behavior related to cross-border spending remains uncertain[195].

Financial Performance - For the fiscal year ending December 31, 2024, the total revenue of Classified Group was approximately HKD 35.7 million, a decrease of 1.7% compared to HKD 36.4 million in 2023[17]. - The loss attributable to the owners of the company for the year was HKD 8.3 million, a reduction from HKD 15.3 million in 2023, primarily due to the absence of inventory write-downs to net realizable value this year[17]. - The group's total revenue for the year ended December 31, 2024, was approximately HKD 35.7 million, a decrease of about 1.7% compared to HKD 36.4 million in 2023[26][32]. - The pre-tax loss for the year ended December 31, 2024, was approximately HKD 8.3 million, significantly reduced from HKD 15.3 million in 2023[23][32]. - The group reported restaurant service revenue of approximately HKD 35,736,000 for the year ended December 31, 2024[169]. - The company incurred a total comprehensive loss of HKD 8,310,000 for the year, compared to a loss of HKD 15,346,000 in the previous year[188]. - The company reported a pre-tax loss of HKD 8,310,000 for the year, an improvement from a loss of HKD 15,346,000 in the previous year, indicating a reduction of approximately 45.5%[189]. Operational Challenges - The restaurant industry in Hong Kong continues to face challenges, including rising food costs, rent, utility expenses, and labor costs, which exert persistent pressure on profit margins[18]. - Customers are becoming more budget-conscious and sensitive to dining expenses, leading to lower-than-expected revenue for the restaurants[18]. - Management anticipates that the current challenges will persist, negatively impacting the restaurant industry and the group's performance[18]. - The management acknowledges ongoing challenges in the Hong Kong dining industry, including rising food costs, rent, and labor expenses, which continue to pressure profit margins[25][28]. Business Strategy - The group plans to expand its takeaway product line and enhance promotional strategies to attract more customers[25][30]. - The group will actively seek potential opportunities to expand revenue sources and enhance shareholder value[30]. - The management emphasizes the need for flexible marketing strategies and efficient operational adaptability to navigate the challenging macro environment[25][32]. Governance and Management - The management team includes experienced executives with backgrounds in finance, business development, and accounting, contributing to overall operational oversight[39][40][41][42][43]. - The company appointed Ms. Huang Cuiyu as an independent non-executive director on December 23, 2024[44]. - The board consists of four independent non-executive directors, ensuring over one-third of the board members are independent[49]. - The company has adopted a board diversity policy effective from January 3, 2019, focusing on various factors such as age, gender, and industry experience[51]. - The company has complied with the GEM Listing Rules Appendix C1 corporate governance code, with specific deviations noted[47]. - The board is responsible for guiding management and reviewing its efficiency, focusing on long-term shareholder value[48]. - The company has not appointed a CEO, which deviates from the governance code, but the board believes this does not impair management due to the business's scale and nature[50]. Financial Position - Total assets decreased from HKD 35.9 million in 2023 to HKD 27.3 million in 2024, reflecting a decline of approximately 24%[24]. - Total liabilities slightly decreased from HKD 18.1 million in 2023 to HKD 17.8 million in 2024[24]. - As of December 31, 2024, the group's current assets amounted to approximately HKD 26.1 million, a decrease from HKD 33.0 million as of December 31, 2023[107]. - The group's current liabilities were approximately HKD 17.8 million as of December 31, 2024, compared to HKD 16.6 million as of December 31, 2023[107]. - The current ratio and quick asset ratio were 1.46 and 0.23 respectively as of December 31, 2024, down from 1.98 and 0.66 as of December 31, 2023[107]. - The group has not declared any dividends for the year ending December 31, 2024[104]. - The group has no available reserves for distribution to shareholders as of December 31, 2024[114]. - The group reported a loss of approximately HKD 8,310,000 for the year ending December 31, 2024[200]. - The group's cash position, including bank balances and cash, was only about HKD 815,000 as of December 31, 2024[200]. Shareholder Relations - The company recognizes the importance of effective communication with shareholders to enhance investor relations and transparency[97]. - The company maintains a website to provide timely information regarding its business operations and financial data for shareholders and the public[97]. Compliance and Audit - The company has confirmed that all directors complied with the trading standards for securities transactions during the fiscal year ending December 31, 2024[55]. - The company has implemented governance measures to monitor compliance with the non-competition agreement, including board authorization for major decisions[58]. - The independent non-executive directors conducted an annual review of compliance with the non-competition agreement[61]. - The company has outsourced its internal audit function to an independent internal audit firm, which reports directly to the audit committee[85]. - The company has maintained its external auditor without changes over the past three years, indicating stability in its auditing processes[81]. Future Outlook - The future outlook for the overall economy in Hong Kong and the impact of consumer spending trends on the restaurant industry remain uncertain[200]. - The board has prepared a cash flow forecast covering a 15-month period from the reporting date to assess the appropriateness of using the going concern basis for preparing financial statements[200]. - The cash flow forecast considers the commitments from two major beneficial shareholders to provide financial resources[200]. - The board believes there are sufficient financial resources to fund the group's operations and meet its financial obligations[200].

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 17,777,000, a decrease of 1.8% compared to HKD 18,104,000 for the same period in 2023[7] - Other income decreased significantly to HKD 206,000 from HKD 1,150,000, representing an 82.1% decline[7] - The company reported a loss before tax of HKD 2,996,000, compared to a loss of HKD 1,641,000 in the previous year, indicating an increase in losses of 82.6%[7] - Basic and diluted loss per share for the period was HKD 9.58, compared to HKD 6.36 in the same period last year, reflecting a 50.0% increase in loss per share[7] - The company reported a pre-tax loss of HKD 4,335,000 for the six months ended June 30, 2024, compared to a loss of HKD 4,404,000 for the same period in 2023, indicating a slight improvement[27] - The loss attributable to the owners of the company for the six months ended June 30, 2024, was approximately HKD 3.0 million, an increase from HKD 1.6 million for the same period in 2023[51] Assets and Liabilities - Total assets decreased to HKD 25,967,000 as of June 30, 2024, from HKD 32,993,000 as of December 31, 2023, a decline of 21.2%[8] - Net current assets decreased to HKD 12,560,000 from HKD 16,353,000, a reduction of 23.0%[8] - The company's equity attributable to owners decreased to HKD 14,823,000 from HKD 17,819,000, a decrease of 16.8%[8] - Total trade and other payables increased to HKD 7,766,000 as of June 30, 2024, compared to HKD 6,907,000 as of December 31, 2023[38] - The group's current assets were approximately HKD 26.0 million, down from HKD 33.0 million as of December 31, 2023[52] - The group's current liabilities as of June 30, 2024, were approximately HKD 13.4 million, a decrease from HKD 16.6 million as of December 31, 2023[52] Cash Flow - The net cash used in operating activities for the six months ended June 30, 2024, was HKD (684,000), compared to HKD (5,779,000) for the same period in 2023, indicating a significant improvement[10] - The company reported a net cash decrease of HKD (5,915,000) for the six months ended June 30, 2024, with cash and cash equivalents at the end of the period being HKD 270,000, down from HKD 2,162,000 in 2023[10] Operational Highlights - The company incurred employee costs of HKD 9,316,000, slightly down from HKD 9,423,000, a decrease of 1.1%[7] - Depreciation expenses increased to HKD 938,000 from HKD 601,000, representing a 55.9% increase[7] - The company continues to focus on its leisure restaurant business, which aims to create a relaxed dining atmosphere for customers[16] - The group has implemented cost-saving measures, including reducing restaurant staff costs and negotiating discounts with suppliers[46] - The group plans to expand its takeaway product line and enhance marketing efforts to stimulate sales[49] - The company has not reported any significant new product developments or market expansions during this period[18] Corporate Governance - The company has established an audit committee to review financial reports and ensure compliance with applicable accounting standards[73] - The board of directors has confirmed that all members comply with the trading standards set forth in the company's code of conduct[74] - The company is committed to maintaining high standards of corporate governance and will review its practices regularly[75] - The chairman and CEO roles are not held by the same individual, in line with corporate governance guidelines[75] - The company plans to appoint at least one director of a different gender by December 31, 2024, to meet diversity requirements[75] Shareholder Information - Directors hold significant stakes, with Mr. Huang owning 24.8% and Mr. Pang owning 40.9% of the company's shares[68] - As of June 30, 2024, Wiltshire Global Limited holds 13,843,692 shares, representing 24.8% of the company's ordinary shares[69] - Peyton Global Limited owns 22,771,433 shares, accounting for 40.9% of the company's ordinary shares[69] - 鼎珮投資集團有限公司 has a stake of 3,400,000 shares, which is 6.1% of the total[69] - No equity securities were issued for cash during the six months ending June 30, 2024, and there were no significant investments, acquisitions, or disposals during this period[58] Future Outlook - The company has not provided specific guidance for future performance or new product developments in the current report[7] - The group continues to face challenges in the Hong Kong restaurant industry due to rising operational costs and changing consumer spending patterns[48] - The group aims to improve its business strategies to enhance market share and shareholder value amidst ongoing challenges[50]

[Financial Statements](index=7&type=section&id=%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8) [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=7&type=section&id=%E6%9C%AA%E7%B6%93%E5%AF%A9%E6%A0%B8%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E6%90%8D%E7%9B%8A%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%A8%E9%9D%A2%E6%94%B6%E7%9B%8A%E8%A1%A8) For the six months ended June 30, 2024, total revenue was **HKD 17.78 million**, a 1.8% decrease, while loss expanded to **HKD 2.996 million** from **HKD 1.641 million** due to reduced other income, with basic loss per share increasing to **9.58 HK cents** Summary of Consolidated Statement of Profit or Loss | Indicator | For the six months ended June 30, 2024 (Thousand HKD) | For the six months ended June 30, 2023 (Thousand HKD) | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | 17,777 | 18,104 | -1.8% | | Other income | 206 | 1,150 | -82.1% | | Loss before tax | (2,996) | (1,641) | +82.6% | | Loss for the period | (2,996) | (1,641) | +82.6% | | Basic loss per share (HK cents) | (9.58) | (6.36) | +50.6% | - The expanded loss is primarily due to reduced management fee income from an associate and decreased revenue influenced by changes in consumer spending patterns[52](index=52&type=chunk) [Consolidated Statement of Financial Position](index=8&type=section&id=%E6%9C%AA%E7%B6%93%E5%AF%A9%E6%A0%B8%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81%E8%A1%A8) As of June 30, 2024, net assets decreased to **HKD 14.82 million** from **HKD 17.82 million**, with total assets declining and bank balances and cash significantly dropping to **HKD 0.27 million**, tightening liquidity Summary of Consolidated Statement of Financial Position | Indicator | June 30, 2024 (Thousand HKD) | December 31, 2023 (Thousand HKD) | Change | | :--- | :--- | :--- | :--- | | Non-current assets | 3,078 | 2,941 | +4.7% | | Current assets | 25,967 | 32,993 | -21.3% | | - Of which: Bank balances and cash | 270 | 6,185 | -95.6% | | Current liabilities | 13,407 | 16,640 | -19.4% | | Net assets | 14,823 | 17,819 | -16.8% | [Consolidated Statement of Changes in Equity](index=9&type=section&id=%E6%9C%AA%E7%B6%93%E5%AF%A9%E6%A0%B8%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E6%AC%8A%E7%9B%8A%E8%AE%8A%E5%8B%95%E8%A1%A8) For the six months ended June 30, 2024, total equity attributable to owners of the Company decreased by **HKD 2.996 million** from **HKD 17.82 million** to **HKD 14.82 million**, solely due to the loss incurred during the period - The total decrease in equity during the period (**HKD 2.996 million**) equals the total loss attributable to owners of the Company[10](index=10&type=chunk) [Consolidated Statement of Cash Flows](index=10&type=section&id=%E6%9C%AA%E7%B6%93%E5%AF%A9%E6%A0%B8%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E7%8F%BE%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) Net cash and cash equivalents decreased by **HKD 5.915 million** during the period, with net cash outflow from operating activities significantly improving to **HKD 0.684 million**, but financing activities resulted in a **HKD 5.49 million** outflow, leading to a period-end cash balance of **HKD 0.27 million** Summary of Cash Flow Statement | Activity | For the six months ended June 30, 2024 (Thousand HKD) | For the six months ended June 30, 2023 (Thousand HKD) | | :--- | :--- | :--- | | Net cash used in operating activities | (684) | (5,779) | | Net cash from/(used in) investing activities | 259 | (511) | | Net cash from/(used in) financing activities | (5,490) | 6,716 | | **Net decrease in cash and cash equivalents** | **(5,915)** | **426** | | Cash and cash equivalents at beginning of period | 6,185 | 1,736 | | **Cash and cash equivalents at end of period** | **270** | **2,162** | [Notes to the Unaudited Condensed Consolidated Financial Statements](index=11&type=section&id=%E6%9C%AA%E7%B6%93%E5%AF%A9%E6%A0%B8%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8%E9%99%84%E8%A8%BB) [Revenue and Segment Information](index=12&type=section&id=5.%20%E6%94%B6%E7%9B%8A%E5%8F%8A%E5%88%86%E9%83%A8%E8%B3%87%E6%96%99) All Group revenue is derived from the casual dining restaurant business, which recorded **HKD 17.78 million** in revenue and a segment loss of **HKD 1.368 million** during the reporting period - The Group's operating and reportable segment is the casual dining restaurant business, primarily operating casual restaurants aimed at creating a relaxed atmosphere[17](index=17&type=chunk) Segment Results | Item | For the six months ended June 30, 2024 (Thousand HKD) | For the six months ended June 30, 2023 (Thousand HKD) | | :--- | :--- | :--- | | Segment revenue | 17,777 | 18,104 | | Segment result (loss) | (1,368) | (1,005) | [Analysis of Operating Results](index=16&type=section&id=6.%20%E5%85%B6%E4%BB%96%E6%94%B6%E5%85%A5) Other income sharply decreased to **HKD 0.206 million** from **HKD 1.15 million** due to reduced management fee income from an associate, while finance costs increased, with no profits tax payable and no interim dividend declared - Management fee income from an associate significantly decreased from **HKD 1.069 million** in the prior period to **HKD 0.06 million** in the current period, which is the primary reason for the decline in other income[25](index=25&type=chunk) - Finance costs, entirely comprising interest on lease liabilities, increased from **HKD 0.117 million** in the prior period to **HKD 0.187 million**[26](index=26&type=chunk) - The Board decided not to declare any dividend for the interim period[30](index=30&type=chunk) [Assets and Liabilities](index=19&type=section&id=14.%20%E8%B2%BF%E6%98%93%E5%8F%8A%E5%85%B6%E4%BB%96%E6%87%89%E6%94%B6%E6%AC%BE%E9%A0%85%E3%80%81%E6%8C%89%E9%87%91%E5%8F%8A%E9%A0%90%E4%BB%98%E6%AC%BE%E9%A0%85) As of the reporting period end, total trade receivables were **HKD 0.331 million** (mostly within 30 days) and total trade payables were **HKD 1.709 million** (over half due within 60 days), with an increase in overdue items beyond 90 days compared to year-end 2023 - The Group grants corporate customers a 30-day credit period, while individual customer transactions are primarily settled by cash and credit card[35](index=35&type=chunk)[36](index=36&type=chunk) Aging Analysis of Trade Receivables and Payables (Thousand HKD) | Aging | Receivables (2024/6/30) | Payables (2024/6/30) | | :--- | :--- | :--- | | 0 to 30 Days | 281 | 762 | | 31 to 60 Days | 3 | 680 | | 61 to 90 Days | 3 | 151 | | Over 90 Days | 44 | 116 | | **Total** | **331** | **1,709** | [Changes in Equity](index=22&type=section&id=16.%20%E8%82%A1%E6%9C%AC) No changes in share capital occurred during the reporting period; however, prior share consolidation and rights issue in 2023 increased total issued share capital to **HKD 11.15 million** - On September 7, 2023, the Company conducted a share consolidation, merging every twenty old shares of **HKD 0.01** par value into one new share of **HKD 0.2** par value[43](index=43&type=chunk) - On October 25, 2023, the Company completed a rights issue, issuing **33.45 million** rights shares at **HKD 0.426** per share, with net proceeds of approximately **HKD 12.81 million**[44](index=44&type=chunk) [Related Party Transactions](index=23&type=section&id=17.%20%E9%97%9C%E8%81%AF%E6%96%B9%E4%BA%A4%E6%98%93) The Group engages in various related party transactions with director-controlled entities, but the termination of a management service agreement with Yuet On Company Limited in October 2023 significantly impacted current period management fee income Key Related Party Transactions (Thousand HKD) | Transaction Type | H1 2024 | H1 2023 | | :--- | :--- | :--- | | Management fee income from Yuet On Company Limited | – | 1,009 | | Management fees paid to Great Asia Wine | 462 | 643 | | Purchase of goods from Great Asia Wine | 100 | 72 | - The management service agreement with Yuet On Company Limited, controlled by Directors Mr. Wong and Mr. Pong, terminated on October 31, 2023[46](index=46&type=chunk) [Management Discussion and Analysis](index=25&type=section&id=%E7%AE%A1%E7%90%86%E5%B1%A4%E8%A8%8E%E8%AB%96%E8%88%87%E5%88%86%E6%9E%90) [Industry and Business Review](index=25&type=section&id=%E8%A1%8C%E6%A5%AD%E5%9B%9E%E9%A1%A7) Hong Kong's catering industry faces challenges from changing consumer patterns and rising costs, leading to a 1.8% year-on-year revenue decrease for the Group's flagship brand "Classified" to **HKD 17.8 million** - Hong Kong's catering industry faces challenges from changing consumer spending patterns (northbound travel, prudent spending) and rising costs, adversely impacting the Group's performance[47](index=47&type=chunk) - The Group has implemented cost-saving measures, such as reducing staff costs and negotiating with suppliers, while increasing marketing efforts and expanding its takeaway product line to address difficulties[47](index=47&type=chunk) - For the six months ended June 30, 2024, the Group recorded net revenue of approximately **HKD 17.8 million**, a decrease of approximately 1.8% compared to the same period last year[48](index=48&type=chunk) [Future Prospects and Risks](index=26&type=section&id=%E6%9C%AA%E4%BE%86%E5%89%8D%E6%99%AF) Management anticipates continued challenges for Hong Kong's catering industry, identifying key risks such as changing consumer patterns, site selection difficulties, raw material price volatility, and labor shortages, with plans to expand takeaway services and enhance existing facilities - Key risks include: - Changes in consumer dining habits and northbound travel trends - Difficulty in finding ideal locations or renewing leases on favorable terms - Volatility in food raw material prices, especially for imported products affected by exchange rates - Labor shortages and intense talent competition in the catering industry[49](index=49&type=chunk) - Response strategies include: - Expanding the takeaway product line and increasing promotional efforts - Improving and upgrading existing restaurant facilities to attract customers - Closely monitoring raw material quotations to ensure price competitiveness[50](index=50&type=chunk) [Financial Review](index=27&type=section&id=%E8%B2%A1%E5%8B%99%E5%9B%9E%E9%A1%A7) Total turnover for the period was approximately **HKD 17.8 million**, a 1.8% year-on-year decrease, with loss attributable to owners of the Company expanding to **HKD 3.0 million** due to reduced management fee income and changing consumer spending patterns - For the six months ended June 30, 2024, total turnover was approximately **HKD 17.8 million**, a 1.8% year-on-year decrease[52](index=52&type=chunk) - Total loss attributable to owners of the Company was approximately **HKD 3.0 million**, compared to **HKD 1.6 million** in the prior period[52](index=52&type=chunk) [Liquidity and Capital Structure](index=27&type=section&id=%E8%B2%A1%E5%8B%99%E8%B3%87%E6%BA%90%E3%80%81%E6%B5%81%E5%8B%95%E8%B3%87%E9%87%91%E5%8F%8A%E8%B3%87%E9%87%91%E7%B5%90%E6%A7%8B%E3%80%82) As of June 30, 2024, the Group's liquidity significantly tightened with bank balances and cash at **HKD 0.27 million**, and while the current ratio remained at 1.94, the quick ratio sharply declined to 0.29, indicating increased reliance on inventory Liquidity Ratios | Indicator | June 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Bank balances and cash (Million HKD) | 0.3 | 6.2 | | Current Ratio | 1.94 | 1.98 | | Quick Ratio | 0.29 | 0.66 | | Gearing Ratio | 0% | 0% | [Employees and Remuneration Policy](index=28&type=section&id=%E5%83%B1%E5%93%A1%E5%8F%8A%E8%96%AA%E9%85%AC%E6%94%BF%E7%AD%96) To cope with operating pressures, the Group streamlined its workforce, reducing employees in Hong Kong to **52** as of June 30, 2024, from **66** in the prior period, with remuneration based on market levels and individual performance - As of June 30, 2024, the Group's headcount was **52 employees**, a 21% decrease from **66 employees** in the prior period[58](index=58&type=chunk) [Other Information](index=29&type=section&id=%E5%85%B6%E4%BB%96%E8%B3%87%E6%96%99) [Use of Proceeds](index=29&type=section&id=%E6%89%80%E5%BE%97%E6%AC%BE%E9%A0%85%E7%94%A8%E9%80%94) The **HKD 12.81 million** from the 2023 rights issue has been fully utilized, while approximately **HKD 23.16 million** from the 2017 placing remains unutilized for restaurant upgrades, with its utilization period extended to December 31, 2025, due to market uncertainties - Approximately **HKD 23.158 million** from the November 2017 placing remains unutilized, earmarked for "restaurant upgrades," with the expected utilization period extended to the end of 2025[61](index=61&type=chunk)[62](index=62&type=chunk)[63](index=63&type=chunk) - Net proceeds of approximately **HKD 12.806 million** from the October 2023 rights issue were fully utilized in the first half of 2024, primarily for repayment of shareholder loans and replenishment of working capital[64](index=64&type=chunk)[65](index=65&type=chunk) [Directors' and Chief Executives' Interests](index=32&type=section&id=%E8%91%A3%E4%BA%8B%E6%96%BC%E6%9C%AC%E5%85%AC%E5%8F%B8%E5%8F%8A%E5%85%B6%E7%9B%B8%E8%81%AF%E6%B3%95%E5%9C%98%E7%9A%84%E8%82%A1%E4%BB%BD%E3%80%81%E7%9B%B8%E9%97%9C%E8%82%A1%E4%BB%BD%E5%8F%8A%E5%82%B5%E6%AC%8A%E8%AD%89%E4%B8%AD%E7%9A%84%E6%AC%8A%E7%9B%8A%E5%8F%8A%E6%B7%A1%E5%80%89) As of June 30, 2024, two executive directors, Mr. Wong Tze Chuen and Mr. Pong Kin Yee, held substantial equity stakes of **24.8%** and **40.9%** respectively through controlled corporations, indicating high ownership concentration among key management Directors' Shareholdings | Director Name | Capacity/Nature of Interest | Number of Shares Held | Approximate Percentage of Shareholding | | :--- | :--- | :--- | :--- | | Mr. Wong Tze Chuen | Interest in controlled corporation | 13,843,692 | 24.8% | | Mr. Pong Kin Yee | Interest in controlled corporation | 22,771,433 | 40.9% | [Corporate Governance](index=35&type=section&id=%E4%BC%81%E6%A5%AD%E7%AE%A1%E6%B2%BB) The Company deviates from corporate governance best practices by not segregating the roles of Chairman and CEO, both held by Mr. Wong Tze Chuen, and acknowledges the lack of gender diversity on its Board, committing to appoint a director of a different gender by December 31, 2024 - The Company deviates from Corporate Governance Code Provision C.2.1, as the roles of Chairman (Mr. Wong Tze Chuen) and Chief Executive Officer are not segregated[76](index=76&type=chunk) - The Company acknowledges that the Board's gender composition does not meet diversity requirements and plans to appoint at least one director of a different gender by December 31, 2024[76](index=76&type=chunk)

Financial Performance - Total revenue for the year ended December 31, 2023, was approximately HKD 36.4 million, a decrease of 2.9% compared to HKD 37.5 million in 2022[14]. - The loss attributable to the owners of the company for the year was HKD 15.3 million, an improvement from a loss of HKD 20.4 million in 2022[14]. - The group's total revenue for the year ended December 31, 2023, was approximately HKD 36.4 million, a decrease of about 2.9% compared to HKD 37.5 million for the year ended December 31, 2022[31]. - The loss attributable to the owners of the company for the year ended December 31, 2023, was approximately HKD 15.3 million, down from HKD 20.4 million in the previous year[31]. - The group reported a net loss of approximately HKD 15,346,000 as of December 31, 2023, with total current liabilities amounting to HKD 16,640,000 and cash reserves of only HKD 6,185,000, raising significant doubts about the group's ability to continue as a going concern[191]. Assets and Liabilities - Non-current assets increased to HKD 2.941 million in 2023 from HKD 1.414 million in 2022[21]. - Total assets decreased to HKD 35.934 million in 2023 from HKD 38.926 million in 2022[21]. - Total liabilities decreased slightly to HKD 18.115 million in 2023 from HKD 18.567 million in 2022[21]. - As of December 31, 2023, the group's current assets were approximately HKD 33.0 million, down from HKD 37.5 million as of December 31, 2022[112]. - The group's current liabilities were approximately HKD 16.6 million as of December 31, 2023, compared to HKD 16.2 million as of December 31, 2022[112]. - The debt ratio was 0% as of both December 31, 2023, and December 31, 2022[112]. Business Strategy and Operations - The company plans to expand its takeaway product line and diversify promotional strategies to enhance overall business performance[16]. - Management believes that the restaurant industry will gradually recover as the mainland China reopens its borders and COVID-19 restrictions are eased[15]. - The company completed a share consolidation and increased its authorized share capital to strengthen its working capital and financial position[16]. - The company operates six restaurants under the Classified and Rise by Classified brands in Hong Kong[15]. - The management anticipates ongoing challenges in the restaurant industry due to rising food costs, rent, and labor expenses, which will pressure profit margins[15]. - The closure of two "Classified" restaurants in February and July 2022 had a net negative impact on revenue, while existing restaurants generated more income due to the reopening of borders[31]. - The group plans to expand its takeaway product line and enhance marketing efforts to stimulate sales[29]. - The group aims to improve existing restaurant facilities to attract more customers and closely monitor supplier pricing for raw materials[29]. Governance and Compliance - The company has adopted a board diversity policy effective from January 3, 2019, focusing on various factors such as age, gender, education, and industry experience to ensure a balanced board composition[54]. - The board consists of three independent non-executive directors, ensuring over one-third of the board members are independent, reflecting adequate independence[51]. - The company has deviated from the code by not having a Chief Executive Officer, but the board believes this does not impair management due to the nature and scale of the business[53]. - The independent non-executive directors play a crucial role in providing strategic advice and ensuring high standards of financial reporting and checks to protect shareholders' interests[57]. - The company has implemented a code of conduct for securities trading by directors, ensuring compliance with the GEM Listing Rules[59]. - The controlling shareholders have made a non-competition commitment to the company, ensuring they will not engage in competing businesses[60]. - The company confirmed compliance with non-competition agreements for the year ending December 31, 2023, as stated by existing controlling shareholders[62]. - The board of directors held a total of six meetings during the year, with attendance rates for executive directors ranging from 83% to 100%[71]. - The company has established three committees: the remuneration committee, nomination committee, and audit committee, each with defined responsibilities[74]. - The board retains decision-making authority on all significant matters, including major transactions and financial data[63]. Shareholder and Capital Management - The company completed a rights issue on October 25, 2023, issuing 33,450,000 new shares, with net proceeds of approximately HKD 12.81 million[114]. - The total amount raised from the rights issue before expenses was approximately HKD 14.25 million[121]. - The company plans to use approximately HKD 5.1 million from the rights issue proceeds to repay certain shareholder loans[121]. - As of December 31, 2023, the company had issued a total of 55,750,000 shares[114]. - The company proposed a share consolidation on July 6, 2023, merging every twenty existing shares into one new share[113]. - The share option plan aims to attract and retain top talent and provide additional incentives to employees and partners[134]. - The maximum number of shares that may be issued under the share option plan is capped at 10% of the total shares issued at the time of the GEM listing[140]. - The total number of shares issued due to the exercise of options granted to participants cannot exceed 1% of the issued shares in any 12-month period[141]. - Any further grants of options to related parties must be approved by shareholders at a general meeting[143]. Risk Management and Audit - The group’s business review, including major risks and uncertainties, is discussed in the management discussion and analysis section of the annual report[106]. - The company has established a disclosure policy to guide the handling of confidential information and monitor information disclosure[84]. - The independent non-executive directors regularly review related party transactions to ensure compliance with annual limits[86]. - The Audit Committee is satisfied with the independence of the external auditor and has recommended their reappointment for the next fiscal year[83]. - The board of directors acknowledges their responsibility to ensure that the financial statements for the year ending December 31, 2023, are prepared in accordance with the Hong Kong Companies Ordinance and accurately reflect the group's affairs, profitability, and cash flow[87]. - The company has outsourced its internal audit function to an independent internal audit firm, which reports directly to the Audit Committee[86]. - The internal control system aims to ensure effective operations and minimize risks, providing reasonable assurance against misstatements or losses[84]. Employee and Social Responsibility - The group employed 59 staff in Hong Kong as of December 31, 2023, an increase from 58 in the previous year, with no discretionary bonuses paid to directors during the year[179]. - The group is committed to promoting and maintaining environmental and social sustainability in Hong Kong, adhering to all relevant laws and regulations[180]. - An independent environmental, social, and governance report is expected to be published on the stock exchange and the company's website[181].

Financial Performance - For the year ended December 31, 2023, the total revenue of Classified Group was approximately HKD 36.4 million, a decrease of 2.9% compared to HKD 37.5 million in 2022[17]. - The loss attributable to owners of the company for the year was HKD 15.3 million, reduced from HKD 20.4 million in 2022, primarily due to the closure of two loss-making restaurants and a decrease in impairment losses on right-of-use assets[17]. - Total revenue for the year 2023 was approximately HKD 36.4 million, a decrease of about 2.9% compared to HKD 37.5 million in 2022[27]. - The company reported a pre-tax loss of HKD 15.3 million for 2023, improved from a loss of HKD 20.4 million in 2022[23]. - The group reported a net loss of approximately HKD 15,346,000 as of December 31, 2023, with total current liabilities amounting to HKD 16,640,000 and cash reserves of only HKD 6,185,000, raising significant doubts about the Group's ability to continue as a going concern[195]. - Restaurant service revenue for the Group was approximately HKD 36,357,000 for the year ended December 31, 2023, which is considered a key audit matter due to its significance to the consolidated income statement[197]. - The Group recognized an impairment loss of approximately HKD 274,000 on property, plant, and equipment, and an impairment loss of approximately HKD 2,000,000 on right-of-use assets as of December 31, 2023[199]. Operational Overview - The group currently operates six restaurants under the Classified and Rise by Classified brands in Hong Kong, with four being Classified and two being Rise by Classified[18]. - Management believes that the restaurant industry will gradually recover as mainland China reopens its borders and COVID-19 restrictions are eased, although the operating environment remains challenging[18]. - Rising costs of food, rent, utilities, and labor are exerting persistent pressure on the group's profit margins[18]. - The company anticipates that the current challenges in the restaurant industry will continue to negatively impact its performance[18]. - The company plans to expand its takeaway product line and enhance promotional strategies to attract more customers[32]. - The company aims to improve existing restaurant facilities to increase customer attraction[32]. Assets and Liabilities - Non-current assets increased to HKD 2.9 million in 2023 from HKD 1.4 million in 2022[24]. - Total assets decreased to HKD 35.9 million in 2023 from HKD 38.9 million in 2022[24]. - Total liabilities decreased slightly to HKD 18.1 million in 2023 from HKD 18.6 million in 2022[24]. - As of December 31, 2023, the group's current assets were approximately HKD 33.0 million, down from HKD 37.5 million as of December 31, 2022[116]. - The group's current liabilities were approximately HKD 16.6 million, slightly up from HKD 16.2 million as of December 31, 2022[116]. - The debt ratio was 0% as of December 31, 2023, indicating no bank borrowings[116]. Corporate Governance - The company has complied with all provisions of the corporate governance code, except for specific deviations noted[52]. - The board is committed to achieving gender diversity and aims to appoint a female director by December 31, 2024[57]. - The board currently consists of three independent non-executive directors, ensuring over one-third of the board members are independent, reflecting adequate independence[54]. - The independent non-executive directors confirmed their independence for the year ending December 31, 2023[60]. - The company has a strong independent element within the board, with members possessing diverse management and industry experience[57]. - The board of directors held a total of six meetings during the year ending December 31, 2023, with attendance rates of 100% for most directors[74]. - The company has established three committees: remuneration, nomination, and audit, each with defined responsibilities[77]. Shareholder Matters - The company completed a rights issue on October 25, 2023, issuing 33,450,000 new shares and raising a net amount of HKD 12.81 million, which will be used to repay certain shareholder loans and increase the group's working capital[39]. - The company’s total issued shares as of December 31, 2023, amounted to 55,750,000[118]. - The company has no distributable reserves as of December 31, 2023, compared to HKD 14.1 million in 2022[131]. - The company did not recommend any dividend payment for the year ending December 31, 2023[112]. Compliance and Risk Management - The company has maintained its internal audit function, which was outsourced to an independent internal audit firm, ensuring effective risk management and internal control systems[90]. - The board has reviewed the effectiveness of the risk management system and continues to monitor its implementation regularly[88]. - The company’s internal control systems are designed to ensure effective and efficient operations, minimizing risks associated with financial reporting and compliance[88]. - The company confirms compliance with the relevant disclosure requirements for related party transactions as per GEM listing rules[154]. Employee and Social Responsibility - The company has achieved a gender diversity ratio of 33.9% for males and 66.1% for females among its employees, indicating a male-to-female ratio of 1:2[58]. - The company is committed to promoting environmental and social sustainability in Hong Kong[184]. - The group employed 59 staff in Hong Kong as of December 31, 2023, an increase from 58 in 2022[183].

Financial Performance - Total revenue for the third quarter of 2023 was HKD 8,390,000, a decrease of 1.84% compared to HKD 8,547,000 in the same period of 2022[5] - Total revenue for the nine months ended September 30, 2023, was HKD 26,494,000, down 9.09% from HKD 29,154,000 in the same period of 2022[5] - The company reported a pre-tax loss of HKD 1,848,000 for the third quarter of 2023, compared to a loss of HKD 1,672,000 in the same quarter of 2022, representing an increase in loss of 10.54%[5] - The total comprehensive loss attributable to owners of the company for the nine months ended September 30, 2023, was HKD 3,489,000, compared to HKD 4,697,000 for the same period in 2022, indicating a 25.69% improvement[5] - Basic loss per share for the third quarter of 2023 was HKD 8.24, compared to HKD 7.46 in the same quarter of 2022[5] - For the nine months ended September 30, 2023, the company recorded revenue of approximately HKD 26.5 million, a decrease of about 9.1% compared to HKD 29.2 million for the same period in 2022[31] - The company reported a pre-tax loss of HKD 3,489,000 for the nine months ended September 30, 2023, compared to a loss of HKD 4,697,000 for the same period in 2022[24] Equity and Capital Structure - The company’s total equity as of September 30, 2023, was HKD 16,870,000, down from HKD 40,751,000 as of January 1, 2022[7] - The company completed a share consolidation on September 7, 2023, reducing the number of issued shares from 446 million to 22.3 million[27] - The company completed a rights issue on September 30, 2023, issuing 33,450,000 shares at a subscription price of HKD 0.426 per share, raising approximately HKD 12.75 million net of estimated expenses[59] Operational Challenges - The company’s operating environment remains challenging due to rising food costs, rent, and labor expenses, impacting profit margins[29] - The company experienced a significant reduction in government subsidies, reporting HKD 488,000 for the three months ended September 30, 2023, compared to HKD 3,690,000 for the same period in 2022[6] - The company’s interest income decreased to HKD 1,000 for the three months ended September 30, 2023, from HKD 2,000 in the same period of 2022[6] - The decrease in revenue was primarily due to the closure of two "Classified" restaurants, which offset the revenue increase from existing restaurants following the reopening of borders[36] - The company faces risks related to changing dining habits, potential location challenges for new restaurants, and labor shortages in the restaurant industry[36] Strategic Plans - The company plans to expand its takeaway product line and enhance existing restaurant facilities to attract more customers[37] - The company aims to improve cost and expense control as part of its strategy to manage risks and enhance overall operational performance[35] - The company believes that continuous expansion and improvement plans will enhance its market share[35] - The company anticipates that the restaurant industry will gradually recover as COVID-19 restrictions ease and tourist numbers increase, although challenges remain[29] Corporate Governance - The financial statements have not been audited but have been reviewed by the audit committee[12] - The audit committee has reviewed the unaudited condensed consolidated financial statements for the nine months ended September 30, 2023, and confirmed compliance with applicable accounting standards[54] - The company has maintained high standards of corporate governance and plans to appoint at least one director of a different gender by December 31, 2024, to meet diversity requirements[56] - The company has disclosed that its board composition does not meet gender diversity requirements as per the corporate governance code[56] - The chairman and CEO roles are currently held by the same individual, but the board is considering separating these roles in the future[56] - The audit committee consists of three independent non-executive directors, ensuring oversight of financial reporting and internal controls[53] Management and Operations - The company operates primarily in the leisure restaurant business, which is its main revenue-generating segment[10] - The company has not reported any new product launches or technological advancements during this period[5] - There are no indications of market expansion or acquisitions mentioned in the report[5] - The company has not issued any cash equity securities or engaged in any significant investments or acquisitions during the nine months ended September 30, 2023[41][42] - The company is closely monitoring supplier pricing for raw materials to ensure competitive pricing for food and beverage supplies[37] - The management service agreement between Press Room Group Management Limited and Canton Oriental Limited was terminated effective October 31, 2023[59] - The company has renewed the lease agreement for its "Classified" brand European-style café located in Repulse Bay for two years, effective from October 6, 2023[59] - The company did not declare any dividends during the period, consistent with the previous year[22] - The company incurred financing costs of HKD 158,000 for the nine months ended September 30, 2023, down from HKD 456,000 in the same period of 2022[7]

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，並明確表示概不就因本公佈全部或任何 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。 Classified Group (Holdings) Limited （於開曼群島註冊成立之有限公司） （股份代號：8232） 截至二零二三年九月三十日止九個月之 第三季度業績公告 Classified Group (Holdings) Limited（「本公司」）董事會（「董事會」）欣然宣佈本公司 及其附屬公司（「本集團」））截至二零二三年九月三十日止九個月之未經審核簡明 綜合業績（「季度業績」）。本公告列載本集團截至二零二三年九月三十日止九個月 的季度報告全文，其內容乃按照香港聯合交易所有限公司（「香港聯交所」）GEM 證券上市規則中之相關披露要求而編製。季度業績已獲董事會及董事會之審核委 員會審閱。 本業績公告已在公司網站(www.classifiedgroup.com.hk) 及香港聯交所網站 (www.hkexnews.hk)刊載。本公司截至二零二三年九月三十日止九個月的季度報告， 將於適當時 ...

Financial Performance - Revenue for the six months ended June 30, 2023, was HKD 18,104,000, a decrease of 12.14% compared to HKD 20,607,000 for the same period in 2022[8]. - The company reported a loss of HKD 1,641,000 for the six months ended June 30, 2023, compared to a loss of HKD 3,025,000 for the same period in 2022, representing a 45.7% improvement[8]. - Basic loss per share for the six months ended June 30, 2023, was HKD 0.37, an improvement from HKD 0.68 for the same period in 2022[8]. - The company recorded a pre-tax loss of HKD 1,641 for the six months ended June 30, 2023, compared to a pre-tax loss of HKD 3,025 for the same period in 2022, representing a 45.8% improvement[25]. - The group recorded a net revenue of approximately HKD 18.1 million for the six months ended June 30, 2023, a decrease of about 12.1% compared to HKD 20.6 million for the same period in 2022[55]. - The group reported a loss attributable to owners of approximately HKD 1.6 million for the six months ended June 30, 2023, an improvement from a loss of HKD 3.0 million for the same period in 2022[61]. Assets and Liabilities - Total assets as of June 30, 2023, were HKD 38,390,000, an increase from HKD 37,512,000 as of December 31, 2022[10]. - The company’s total liabilities decreased to HKD 19,227,000 as of June 30, 2023, from HKD 16,153,000 at the end of 2022[10]. - The company’s total liabilities increased to HKD 20,386 as of June 30, 2023, compared to HKD 18,567 as of December 31, 2022[29]. - The group’s current assets amounted to approximately HKD 38.4 million as of June 30, 2023, compared to HKD 37.5 million as of December 31, 2022[62]. - The group’s current liabilities were approximately HKD 19.2 million as of June 30, 2023, an increase from HKD 16.2 million as of December 31, 2022[62]. - The company’s net asset value as of June 30, 2023, was HKD 18,718,000, down from HKD 20,359,000 at the end of 2022[10]. Cash Flow and Financing - The company incurred financing costs of HKD 117,000 for the six months ended June 30, 2023, down from HKD 277,000 for the same period in 2022[8]. - Cash and cash equivalents increased by HKD 426, compared to a decrease of HKD 11,418 in the same period last year[24]. - The net cash used in operating activities was HKD (5,779), significantly higher than HKD (64) in the previous year, indicating increased cash outflow[24]. - The company’s cash balance at the end of the period was HKD 2,162, down from HKD 5,853 at the end of the previous year[24]. - The company incurred financing costs related to lease liabilities amounting to HKD (2,786) for the six months ended June 30, 2023, compared to HKD (1,343) in the previous year[24]. Operational Efficiency - The company’s employee costs for the six months ended June 30, 2023, were HKD 9,423,000, a decrease from HKD 11,585,000 for the same period in 2022, reflecting a cost reduction strategy[8]. - The cost of materials and consumables used in restaurant operations decreased to HKD 4,404,000 for the six months ended June 30, 2023, down from HKD 6,470,000 in 2022, representing a 32% reduction[35]. - The company’s inventory decreased slightly to HKD 30,698,000 from HKD 31,165,000 as of December 31, 2022[10]. - Trade payables decreased to HKD 1,645,000 as of June 30, 2023, from HKD 1,850,000 at the end of 2022, showing an 11% reduction[47]. Strategic Plans and Future Outlook - The group plans to expand its takeaway product line and enhance marketing efforts to stimulate sales[60]. - The group aims to improve existing restaurant facilities to attract more customers[60]. - The company has a plan to develop, relocate, open, and upgrade restaurants, with an allocation of HKD 24,500,000 for this purpose[71]. - The company will continue to seek potential opportunities to expand revenue sources and enhance shareholder value[59]. - The company’s board will continuously evaluate business objectives and may revise plans based on changing market conditions[72]. Corporate Governance - The company has established an audit committee to review financial reports and ensure compliance with applicable accounting standards[81]. - The company is committed to maintaining high standards of corporate governance and has complied with the corporate governance code provisions, except for the separation of the roles of Chairman and CEO as required by code provision C.2.1[83]. - The company has adopted a code of conduct for securities trading by directors, which meets or exceeds the standards set out in GEM Listing Rules sections 5.48 to 5.67[82]. - Major shareholders include Wiltshire Global Limited and Peyton Global Limited, holding 9.3% and 15.3% of the shares respectively[78]. Dividends and Shareholder Returns - The company did not declare any dividends during the interim period, consistent with the previous year[37]. - The board has proposed a rights issue to enhance the group's working capital and strengthen its financial position[84].