Financial Performance - Revenue for the three months ended June 30, 2019, was HKD 8,524,000, a decrease of 6.2% compared to HKD 9,085,000 for the same period in 2018[4] - Gross profit for the same period was HKD 6,446,000, down 10.2% from HKD 7,178,000 year-over-year[4] - The company reported a loss before tax of HKD 3,047,000, an improvement from a loss of HKD 4,286,000 in the previous year, indicating a 29% reduction in losses[4] - Basic and diluted loss per share was HKD 0.85, compared to HKD 1.23 for the same period in 2018, reflecting a 30.9% improvement[4] - The group's consolidated revenue for the three months ended June 30, 2019, was approximately HKD 8.5 million, a decrease of about 6.2% compared to HKD 9.1 million in 2018[25] - Gross profit for the same period was approximately HKD 6.4 million, down about 10.2% from HKD 7.2 million in 2018, with a gross margin of approximately 75.6% compared to 79.0% in the previous year[25] - The net loss for the period was approximately HKD 3.0 million, compared to a net loss of HKD 4.3 million in the same period last year[25] - Sales of limited edition aged Pu-erh tea cakes significantly declined by approximately HKD 1.6 million, contributing to the overall decrease in revenue[25] Administrative Expenses - Administrative expenses decreased to HKD 9,216,000 from HKD 11,084,000, representing a reduction of 16.9%[4] - Administrative expenses increased due to new advertising campaigns, new lease agreements, and higher costs associated with IT system maintenance[26] Shareholder Information - As of June 30, 2019, the company has 270,000,000 shares held by Profit Ocean Enterprises Limited, representing 75% of the total issued shares[34] - The major shareholders, including Tri-Luck, Wealth City, Tianjing, and Coastal Lion, each hold 25% of Profit Ocean, which is fully owned by the respective individuals[40] - No other individuals, apart from the disclosed directors and major shareholders, hold any interests in the company's shares as of June 30, 2019[41] - The directors and senior management collectively own 270,000,000 shares, each holding 75% in the controlled corporation[34] - The company has no record of any interests or positions held by directors or senior management in the company's shares beyond what has been disclosed[41] - The compliance advisor has confirmed no interests in the company that need to be disclosed under GEM listing rules as of June 30, 2019[45] - The company has established a consistent action arrangement among its major shareholders regarding the shares held in Profit Ocean[35] Compliance and Governance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance and accuracy[10] - The company has appointed KGI Asia Limited as its compliance advisor to ensure adherence to GEM listing rules[45] - The Audit Committee was established on March 14, 2018, in compliance with GEM listing rules, consisting of three independent non-executive directors[47] - The Audit Committee reviewed the unaudited condensed consolidated results for the three months ended June 30, 2019, confirming compliance with applicable accounting standards and GEM listing rules[47] Market and Strategic Outlook - The company continues to operate in the retail business of Chinese tea and related products, with no significant changes in strategy noted[9] - The company remains cautious about opening new stores and counters, aiming to maximize the contribution profit from existing locations[27] - The economic environment remains uncertain, with a GDP growth of only 0.6% year-on-year in the second quarter of 2019, leading to a decrease in consumer spending[27] - There are no indications of market expansion or acquisitions mentioned in the report[4] - The company has not reported any new product launches or technological advancements during this quarter[4] Dividends - The company did not declare any interim dividend for the three months ended June 30, 2019, consistent with the previous year[20] - No interim dividend was declared for the three months ended June 30, 2019, consistent with the previous year[46] Events After Reporting Period - No significant events occurred after the reporting period that would impact the group's performance for the three months ended June 30, 2019[28] Share Pledges and Conflicts - There were no pledges of shares by the controlling shareholders to any contracting parties as of June 30, 2019[42] - The directors are not aware of any competing businesses or interests that may conflict with the company's operations as of June 30, 2019[43]

Financial Performance - The group's revenue decreased by 1.1% from approximately HKD 45.4 million for the year ended March 31, 2018, to approximately HKD 44.9 million for the year ended March 31, 2019[11]. - The net loss attributable to shareholders for the year ended March 31, 2019, was approximately HKD 2.8 million, compared to a net loss of approximately HKD 3.2 million in the previous year, primarily due to non-recurring listing expenses[11]. - The group recorded a net profit of approximately HKD 1.2 million for the year, excluding listing expenses of about HKD 4.0 million[11]. - The group's consolidated revenue for the fiscal year ended March 31, 2019, was approximately HKD 44.9 million, a decrease of 1.1% compared to HKD 45.4 million in 2018[21]. - The annual gross profit was approximately HKD 35.0 million, down 3.0% from HKD 36.1 million in 2018, with a gross margin of 78.0%[21]. - The net loss for the reporting year was approximately HKD 2.8 million, an improvement from a net loss of HKD 3.2 million in 2018, primarily due to non-recurring listing expenses of about HKD 4.0 million[21]. - Sales and distribution costs decreased to approximately HKD 2.1 million, a reduction of 32.3% from HKD 3.1 million in 2018[26]. Business Expansion and Strategy - The company is expanding its business into food and beverage retail, launching a new product line in mid-April 2019, including Hong Kong-style coffee and mixed drinks[9]. - The board maintains a cautious outlook on business prospects and plans to closely follow the expansion strategy[13]. - The company aims to capture the younger generation market with innovative tea blends and flavors[9]. - The company is facing challenges in identifying new retail locations that provide a safe buffer between existing points and cost-effectiveness[8]. - The group opened two new counters, contributing to a slight revenue decline of 1.1% due to economic stagnation caused by the US-China trade tensions[19]. - The company opened two new retail points in Hong Kong during the year, including a counter in Kwun Tong and a store in Shatin[65]. - The group opened a new concept store in Tsim Sha Tsui on April 15, 2019, selling tea and coffee beverages made from Chinese tea leaves and Italian coffee beans[77]. Financial Position and Capital Management - The company raised approximately HKD 25.2 million from the share offering, net of related costs, in April 2018[12]. - The company's equity attributable to shareholders increased significantly to approximately HKD 41.2 million, a rise of HKD 39.1 million or 1,861.9% compared to 2018[42]. - The company's debt-to-equity ratio improved to 7.8% as of March 31, 2019, down from 760.7% in 2018, primarily due to the repayment of bank loans and the issuance of new shares[54]. - The net proceeds from the issuance of 90,000,000 ordinary shares at HKD 0.54 per share amounted to approximately HKD 25.2 million, which was allocated for various operational improvements[56]. - Approximately 49.8% of the net proceeds were used for opening new retail locations, totaling HKD 12.6 million[57]. Operational Efficiency and Cost Management - The group's inventory net value at the end of the reporting year was approximately HKD 7.4 million, an increase of 17.5% from HKD 6.3 million in 2018[32]. - Trade and other receivables decreased to approximately HKD 4.8 million, down 5.9% from HKD 5.1 million in 2018[34]. - Current assets net value increased to approximately HKD 37.7 million, a significant rise of 5,285.7% from HKD 0.7 million in 2018[36]. - Cash and bank balances were approximately HKD 10.2 million, an increase of 251.7% from HKD 2.9 million in 2018[36]. - Trade and other payables decreased to approximately HKD 1.5 million, a reduction of 69.4% from HKD 4.9 million in 2018[37]. - The total employee costs for the year ended March 31, 2019, amounted to approximately HKD 14.9 million, compared to HKD 11.0 million in 2018[46]. Corporate Governance and Board Structure - The board consists of 6 members, including 3 executive directors and 3 independent non-executive directors, ensuring a balanced governance structure[125]. - The board held a total of 7 meetings during the year ending March 31, 2019, to approve quarterly, interim, and final results, as well as other significant operational matters[140]. - All independent non-executive directors possess professional accounting and financial experience, enabling them to provide constructive advice to the board[128]. - The company has implemented a board diversity policy, considering various factors such as gender, age, ethnicity, and professional experience in the selection of board candidates[129]. - The company recognizes the importance of continuous training and professional development for directors to enhance corporate governance quality[130]. - The chairman and CEO roles are separated, with Mr. Chan Kwong Yuen serving as the chairman and Mr. Chan Kun Yuen as the CEO[135]. - The board has authorized management to handle daily operations while retaining oversight of strategic objectives and financial performance[124]. Risk Management and Internal Control - The company has established policies and procedures for regular risk assessments to identify and manage operational, accounting, and compliance risks[178]. - The board is responsible for the risk management and internal control systems, which are reviewed annually for effectiveness[183]. - The company has not established an internal audit department but will continue to review the need for one at least annually[184]. - The company aims to maintain a robust internal control system to ensure the accuracy and completeness of its disclosures[180]. Environmental and Social Responsibility - The group emphasizes the importance of maintaining good relationships with suppliers, customers, and stakeholders, with no significant disputes reported during the review period[76]. - The group actively encourages employees to participate in energy-saving activities and adheres to environmental laws and regulations in Hong Kong[86]. - The group believes its operations do not have any significant impact on the environment and natural resources due to the nature of its business[98]. - The group reduced paper consumption from 59,410 sheets in 2018 to 33,000 sheets in 2019, reflecting a shift towards paperless operations[93]. - The group consumed 171,594 units of paper packaging in 2019, down from 183,326 units in 2018, indicating effective monitoring of packaging materials[97]. - The group donated approximately HKD 113,000 to support community services and school education for non-profit organizations during the reporting year[121]. Employee Relations and Welfare - The company provides competitive compensation and benefits, including overtime and meal allowances, commissions, and bonuses[1]. - All employees undergo annual performance evaluations based on the same performance standards, which influence bonuses, salary increases, and promotions[105]. - The company offers biannual free health check-ups to ensure employees maintain good health[102]. - There were no significant labor disputes with employees during the reporting year[101]. - The company is committed to continuous training and self-development for its employees[165]. Shareholder Communication and Rights - The company has established a comprehensive communication system to ensure transparency and timely disclosure to stakeholders, including public, analysts, and shareholders[197]. - Shareholders have the right to propose independent resolutions on important matters, including the election of individual directors, during the annual general meeting[198]. - The voting results for shareholder meetings will be published on the Hong Kong Stock Exchange website and the company's official website[198]. - The company is committed to adhering to the disclosure requirements under the GEM Listing Rules and the guidelines for insider information disclosure issued by the Securities and Futures Commission[197]. - The annual general meeting provides a platform for shareholders to communicate with the board of directors and raise questions[197]. - The company has strict prohibitions against unauthorized use of confidential or insider information[197]. - Shareholders can receive company communications electronically through the company's website to facilitate effective communication[197]. - The board of directors must convene a meeting within 21 days if requested by shareholders, or the requesting shareholders may convene the meeting themselves[200].

Financial Performance - The group's consolidated revenue for the nine months ended December 31, 2018, was approximately HKD 34.7 million, representing a growth of about 3.9% compared to HKD 33.4 million for the same period in 2017[7]. - Gross profit for the same period was approximately HKD 27.2 million, an increase of about 3.0%, with a gross profit margin of approximately 78.5%, slightly down from 79.0% in the previous year[7]. - The net loss for the period was approximately HKD 1.4 million, an improvement from a net loss of HKD 1.9 million in the same period of 2017, primarily due to non-recurring listing expenses of approximately HKD 4.0 million[7]. - For the nine months ended December 31, 2018, the company's revenue was HKD 34,701,000, an increase of 3.83% compared to HKD 33,417,000 for the same period in 2017[50]. - The gross profit for the nine months ended December 31, 2018, was HKD 27,237,000, representing a gross margin of 78.5%[50]. - The net loss for the nine months ended December 31, 2018, was HKD 1,353,000, compared to a net loss of HKD 1,900,000 for the same period in 2017, indicating an improvement[50]. - Basic and diluted loss per share for the nine months ended December 31, 2018, was HKD 0.38, compared to HKD 0.70 for the same period in 2017[50]. - The pre-tax profit for the nine months ended December 31, 2018, was a loss of HKD 1,353,000, compared to a loss of HKD 1,900,000 for the same period in 2017[68]. Expenses and Costs - Administrative expenses increased significantly due to new hires and ongoing listing maintenance costs, impacting net profit when excluding listing costs[9][11]. - The company's operating lease expenses for the nine months ended December 31, 2018, included minimum lease payments of HKD 6,489,000, up from HKD 5,931,000 in the same period of 2017[63]. - The income tax expense for the nine months ended December 31, 2018, was HKD 934,000, compared to HKD 1,472,000 for the same period in 2017[65]. - The cost of goods sold for the nine months ended December 31, 2018, was HKD 6,471,000, an increase from HKD 6,197,000 in the same period of 2017[63]. - The auditor's remuneration for the nine months ended December 31, 2018, was HKD 245,000, significantly higher than HKD 30,000 for the same period in 2017[63]. - The company incurred listing expenses of HKD 4,000,000 for the nine months ended December 31, 2018, down from HKD 9,212,000 in the same period of 2017[63]. Assets and Liabilities - As of December 31, 2018, the group's current assets net value was approximately HKD 40.2 million, a significant increase of about 5,642.9% from HKD 0.7 million on March 31, 2018[15]. - Cash and bank balances increased to approximately HKD 29.8 million, up about 751.4% from HKD 3.5 million on March 31, 2018, primarily due to funds received from the IPO[15]. - The debt-to-equity ratio improved to 7.4% as of December 31, 2018, down from approximately 760.7% on March 31, 2018, following the repayment of bank loans and issuance of new shares[16]. - The total equity as of December 31, 2018, was HKD 42,631,000, an increase from HKD 3,390,000 as of December 31, 2017[51]. - As of December 31, 2018, the group had no significant contingent liabilities[26]. - As of December 31, 2018, the group had no assets pledged as collateral[27]. Corporate Governance and Management - The group maintained high standards of corporate governance and complied with the GEM Listing Rules during the reporting period[29]. - The board of directors did not recommend the distribution of dividends for the nine months ended December 31, 2018, compared to HKD 2.0 million for the same period in 2017[25]. - The company did not purchase, sell, or redeem any of its listed securities during the nine months ended December 31, 2018[31]. - The company did not grant any financial assistance or guarantees to any controlling shareholders during the nine months ended December 31, 2018[43]. - The company has adopted a board diversity policy for the nomination and appointment of new directors, considering various diversity aspects[44]. - The audit committee reviewed the financial results for the nine months ended December 31, 2018, and confirmed compliance with applicable accounting standards[46]. - The company has appointed KGI Asia Limited as its compliance advisor, with no interests reported in the company's equity as of December 31, 2018[47]. - The company was listed on the GEM of the Hong Kong Stock Exchange on April 16, 2018, following a restructuring process[54]. Employee and Training - As of December 31, 2018, the total employee cost for the group was approximately HKD 10.8 million, an increase of 44% compared to HKD 7.5 million for the same period in 2017[24]. - The group provided various training programs for employees to enhance their skills[24]. Business Development - The group opened two new counters in shopping malls, contributing to expected steady business growth despite potential economic uncertainties due to the ongoing US-China trade tensions[14]. - Tea product sales for the nine months ended December 31, 2018, reached HKD 34,701,000, an increase of 3.83% compared to HKD 33,417,000 for the same period in 2017[60]. - Capital expenditures for the nine months ended December 31, 2018, were approximately HKD 2.0 million, mainly for the furniture and fixtures of the new counters[17]. Shareholding Structure - As of December 31, 2018, the directors and senior management held a total of 270,000,000 shares, representing 75% of the company's total shares[34]. - Profit Ocean Enterprises Limited, the major shareholder, held 270,000,000 shares, also representing 75% of the total shares[36]. Events and Contingencies - There were no significant events after the reporting period that would affect the group's performance for the nine months ended December 31, 2018[28].