香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對 本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明 確表示概不就因本公告全部或任何部分內容而產生或因依賴該等內容 而引致的任何損失承擔任何責任。 ROYAL GROUP HOLDINGS INTERNATIONAL COMPANY LIMITED 皇 璽 集 團 控 股 國 際 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：8300） 截 至 二 零 二 三 年 三 月 三 十 一 日 止 年 度 之 全 年 業 績 公 告 皇 璽 集 團 控 股 國 際 有 限 公 司（「本 公 司」）之 董 事（「董 事」）會（「董 事 會」）欣 然 宣 佈，本 公 司 及 其 附 屬 公 司（統 稱「本 集 團」）截 至 二 零 二 三 年 三 月 三 十 一 日 止 年 度 之 經 審 核 綜 合 業 績。本 公 告 載 有 本 公 司 截 至 二 零 二 三 年三月三十一日止年度的年報（「二零二二年至二零二三年年報」）全文， 符 合 聯 交 所GEM證 券 上 市 規 則（「GEM上 市 規 則」）有 關 隨 附 初 步 ...

Financial Performance - For the nine months ended December 31, 2022, the group recorded unaudited revenue of approximately HKD 20,900,000, a decrease of about 34.7% compared to HKD 32,000,000 for the same period in 2021[7]. - The group reported an unaudited loss attributable to owners of the company of approximately HKD 13,400,000 for the nine months ended December 31, 2022, compared to a loss of HKD 3,400,000 for the same period in 2021[7]. - Basic and diluted loss per share attributable to owners of the company was HKD 0.51 for the nine months ended December 31, 2022, compared to HKD 0.13 for the same period in 2021[7]. - The gross profit for the nine months ended December 31, 2022, was HKD 15,779,000, down from HKD 25,142,000 for the same period in 2021, reflecting a significant decline in profitability[8]. - Operating loss for the nine months ended December 31, 2022, was HKD 12,689,000, compared to an operating loss of HKD 1,718,000 for the same period in 2021[8]. - The total comprehensive loss for the nine months ended December 31, 2022, was HKD 13,511,000, compared to HKD 3,440,000 for the same period in 2021[8]. - Revenue for the three months ended December 31, 2022, was HKD 6,812,000, a decrease of 26% compared to HKD 9,206,000 for the same period in 2021[19]. - Revenue for the nine months ended December 31, 2022, was HKD 20,945,000, down 34% from HKD 31,955,000 in the previous year[19]. - The group recorded a loss of approximately HKD 13,500,000 for the nine months ended December 31, 2022, compared to a loss of approximately HKD 3,400,000 for the same period in 2021, primarily due to a significant decline in revenue attributed to the COVID-19 pandemic and the closure of certain restaurants[55]. Dividends and Equity - The board of directors decided not to recommend the payment of an interim dividend for the nine months ended December 31, 2022, consistent with the previous year[7]. - The group did not declare or pay any dividends for the nine months ended December 31, 2022, consistent with the previous year[31]. - The total equity attributable to owners of the company decreased to HKD 29,627,000 as of December 31, 2022, from HKD 49,785,000 as of December 31, 2021[10]. Costs and Expenses - The group incurred finance costs of HKD 682,000 for the nine months ended December 31, 2022, slightly down from HKD 693,000 for the same period in 2021[8]. - The cost of goods sold for the three months ended December 31, 2022, was HKD 1,893,000, compared to HKD 1,915,000 for the same period in 2021[22]. - The cost of goods sold decreased by approximately 23.5% from HKD 6,800,000 to HKD 5,200,000 during the same periods[41]. - Employee costs decreased by approximately 12.8% from HKD 14,900,000 to HKD 13,000,000, with the number of employees reduced from 75 to 70[45]. - Depreciation expenses increased from approximately HKD 2,900,000 to HKD 4,600,000 over the same periods[48]. - Administrative expenses decreased by approximately 18.3% from HKD 13,100,000 to HKD 10,700,000, due to reductions in marketing, cleaning, and maintenance costs[51]. Government Support and Income - The company received government subsidies amounting to HKD 1,580,000 for the nine months ended December 31, 2022, compared to HKD 100,000 in the previous year[44]. - The company confirmed interest income from receivable loans of approximately HKD 200,000 for the nine months ended December 31, 2022, compared to none in the previous year[39]. - Other income decreased by approximately 70.8% from HKD 6,450,000 to HKD 1,880,000, primarily due to a significant reduction in one-time gains from property sales and COVID-19 related rent concessions[44]. Cash Flow and Borrowings - The group's cash and cash equivalents amounted to approximately HKD 34,400,000 as of December 31, 2022, a decrease of approximately 47.2% from HKD 65,200,000 as of December 31, 2021, mainly due to increased support for daily operations affected by the pandemic[63]. - The total borrowings of the group as of December 31, 2022, were approximately HKD 24,000,000, an increase from HKD 19,800,000 as of December 31, 2021[65]. - The group had approximately HKD 11,900,000 in outstanding bank financing commitments as of December 31, 2022, down from HKD 15,500,000 as of December 31, 2021[65]. Market and Operational Strategy - The company primarily engages in providing leisure dining services in Hong Kong, with its financial statements presented in Hong Kong dollars (HKD) for the nine months ended December 31, 2022[13]. - The group plans to maintain sufficient working capital to support daily operations amid economic uncertainties and will continue to monitor business trends for potential expansion opportunities[77]. - The group aims to consolidate its position in the Hong Kong restaurant market and explore opportunities for introducing popular restaurant brands through franchising or partnerships[77]. - The group experienced a decline in revenue due to the outbreak of the COVID-19 pandemic, which has significantly affected its operations[74]. Corporate Governance - The audit committee consists of three independent non-executive directors, ensuring compliance with corporate governance standards[97]. - The company has confirmed compliance with the trading standards for directors as of December 31, 2022[94]. - The company’s financial statements for the quarter have been reviewed by the audit committee, although not audited by external auditors[98]. Shareholding Structure - Fortune Round Limited holds 1,500,000,000 shares, representing 56.7% of the company's equity[89]. - Li Ying Yan holds 1,662,120,000 shares, representing 62.9% of the company's equity, as a spouse interest[89]. - Keenfull Investments Limited and Li Chi Keung both hold 317,280,000 shares, each representing 12.0% of the company's equity[89]. Employee and Wage Considerations - The minimum wage in Hong Kong will increase from HKD 37.5 to HKD 40.0 per hour effective May 1, 2023, which may further impact future employee costs[80]. - The group has not engaged in any significant related party transactions during the nine months ended December 31, 2022, apart from those disclosed[32].

Financial Performance - For the six months ended September 30, 2022, the group recorded unaudited revenue of approximately HKD 14,100,000, a decrease of about HKD 8,600,000 or 37.9% compared to HKD 22,700,000 for the same period in 2021[9]. - The group reported an unaudited loss attributable to owners of the company of approximately HKD 8,000,000, compared to a loss of approximately HKD 600,000 for the same period in 2021[9]. - Basic and diluted loss per share attributable to owners of the company was HKD 0.30, compared to HKD 0.02 for the same period in 2021[9]. - Gross profit for the six months ended September 30, 2022, was HKD 10,860,000, down from HKD 17,851,000 in the same period of 2021[11]. - The group incurred operating losses of HKD 7,595,000 for the six months ended September 30, 2022, compared to a profit of HKD 777,000 for the same period in 2021[11]. - The group’s total comprehensive loss for the period was HKD 8,074,000, compared to HKD 609,000 for the same period in 2021[11]. - For the six months ended September 30, 2022, the company's revenue from restaurant operations was HKD 14,133,000, a decrease of 38.1% compared to HKD 22,749,000 for the same period in 2021[28]. - The pre-tax loss for the six months ended September 30, 2022, was HKD 8,013,000 compared to a loss of HKD 609,000 for the same period in 2021[37]. - The group recorded a loss of approximately HKD 8,100,000 for the six months ended September 30, 2022, compared to a loss of HKD 600,000 in the same period of 2021, primarily due to a significant decline in revenue[87]. Assets and Liabilities - Total assets as of September 30, 2022, amounted to HKD 54,199,000, a decrease from HKD 66,713,000 as of March 31, 2022[13]. - Current liabilities were HKD 28,680,000 as of September 30, 2022, compared to HKD 29,572,000 as of March 31, 2022[13]. - Cash and cash equivalents decreased to HKD 42,063,000 from HKD 60,672,000 as of March 31, 2022[13]. - The total equity as of September 30, 2022, was HKD 35,273,000, down from HKD 43,047,000 as of March 31, 2022, representing a decrease of 18.1%[18]. - The accumulated losses increased to HKD (107,910,000) as of September 30, 2022, from HKD (99,897,000) as of April 1, 2022[18]. - The company's non-current liabilities included lease liabilities of HKD 7,530,000 as of September 30, 2022, compared to HKD 1,735,000 as of March 31, 2022[16]. - The total lease liabilities increased to HKD 13,898,000 as of September 30, 2022, from HKD 6,089,000 as of March 31, 2022, reflecting a growth of about 128%[43]. - The group’s bank borrowings secured by collateral amounted to HKD 12,917,000 as of September 30, 2022, down from HKD 14,854,000 as of March 31, 2022, a decrease of approximately 13%[57]. - Total borrowings increased to approximately HKD 26,800,000 as of September 30, 2022, from HKD 20,900,000 as of March 31, 2022[97]. - As of September 30, 2022, the company's debt-to-equity ratio was approximately 76.5%, an increase from 48.7% as of March 31, 2022, primarily due to increased lease liabilities and a decrease in equity attributable to owners[99]. Cash Flow and Expenses - The net cash used in operating activities for the six months ended September 30, 2022, was HKD (15,902,000), compared to HKD (722,000) for the same period in 2021[21]. - Cash and cash equivalents as of September 30, 2022, were approximately HKD 42,100,000, down from HKD 60,700,000 as of March 31, 2022[96]. - The cash and cash equivalents decreased by HKD 18,609,000 during the reporting period, ending at HKD 42,603,000 compared to HKD 68,994,000 at the end of the same period in 2021[21]. - Employee benefit expenses, including director remuneration, decreased to HKD 8,833,000 in 2022 from HKD 10,502,000 in 2021, a decline of about 16%[31]. - Administrative expenses reduced by approximately 16.9% from HKD 8,900,000 to HKD 7,400,000 during the same period, mainly due to decreases in marketing and promotional expenses[83]. - Tax expenses decreased significantly from HKD 900,000 to HKD 100,000, attributed to a reduction in taxable income from existing restaurants[85]. - Financial costs for the six months ended September 30, 2022, totaled HKD 375,000, a decrease of 27.4% from HKD 517,000 for the same period in 2021[30]. - Depreciation expenses remained stable at approximately HKD 2,100,000 and HKD 2,600,000 for the six months ended September 30, 2021, and 2022, respectively[80]. Shareholder Information - As of September 30, 2022, the major shareholder, Mr. Wang Wenwei, holds 1,500,000,000 shares, representing 56.7% of the company's equity[118]. - Mr. Wang Wenwei also holds an additional 162,120,000 shares directly, accounting for 6.2% of the equity[119]. - Other significant shareholders include Ms. Lin Huijun and Mr. Chen Zetao, each holding 20,000,000 shares, which is 0.76% of the equity[121]. - Fortune Round Limited, owned entirely by Mr. Wang Wenwei, holds 1,500,000,000 shares, representing 56.7% of the total equity[124]. - The total equity held by Ms. Li Yingyan, Mr. Li Chi Keung, and Ms. Wong Hoi Ping collectively amounts to 1,662,120,000 shares, which is 62.9% of the equity[124]. - Keenfull Investments Limited, controlled by Mr. Li Chi Keung, holds 317,280,000 shares, representing 12.0% of the equity[124]. Corporate Governance and Compliance - The company has complied with the corporate governance code, with a noted exception regarding the roles of the Chairman and CEO being held by the same individual[114][115]. - The company has adopted a code of conduct for directors' securities transactions, which complies with GEM Listing Rules[131]. - The audit committee has been established in accordance with GEM Listing Rules and is responsible for reviewing financial statements and internal control procedures[132]. - The company did not purchase, sell, or redeem any shares during the review period[118]. - The company has not granted any stock options as of September 30, 2022, for the six-month period[129]. Business Operations and Strategy - The company aims to maintain sufficient working capital to support daily operations while monitoring business trends for potential market opportunities[112]. - The company plans to consolidate its position in the Hong Kong restaurant sector and explore opportunities for introducing popular restaurant brands through franchising or partnerships[112]. - The company faces risks related to the supply of food ingredients, which may experience price volatility[109]. - The company has no major investment or capital asset plans beyond those disclosed in the report as of September 30, 2022[110]. - The company will continue to manage expenses conservatively and maintain a cautious outlook on profitability in the coming months due to economic uncertainties[112]. - The company has confirmed that all bank borrowings are guaranteed by Mr. Wang, with an effective annual interest rate of 2.75%[58]. Changes and Developments - The company has undergone a name change to Royal Group Holdings International Company Limited, effective from September 19, 2022[62]. - The restaurant "Hanlin Tea Room" closed in August 2021, impacting revenue for the current reporting period[73]. - The restaurant "Dumpling Master" temporarily suspended operations in August 2022 due to relocation, affecting its revenue contribution[73]. - The company has not disclosed any new product or technology developments during this reporting period[27]. - There were no significant changes in accounting policies that impacted the financial statements for the six months ended September 30, 2022[24].

Financial Performance - For the three months ended June 30, 2022, the group recorded unaudited revenue of approximately HKD 7,300,000, a decrease of about 38.1% compared to HKD 11,800,000 for the same period in 2021[11] - The group reported an unaudited loss attributable to owners of the company of approximately HKD 2,700,000, compared to a loss of approximately HKD 1,700,000 for the same period in 2021[11] - Basic and diluted loss per share attributable to owners of the company was HKD 0.10, compared to HKD 0.07 for the same period in 2021[11] - The gross profit for the three months ended June 30, 2022, was HKD 5,767,000, down from HKD 9,337,000 in the same period of 2021[11] - Operating loss for the period was HKD 2,302,000, compared to an operating loss of HKD 1,059,000 for the same period in 2021[11] - Total comprehensive loss for the period was HKD 2,702,000, compared to HKD 1,731,000 for the same period in 2021[11] - The group reported a loss attributable to owners of the company of HKD (2,679,000) for the three months ended June 30, 2022, compared to a loss of HKD (1,731,000) in the prior year, indicating a worsening of 54.7%[34] - The group recorded a loss of approximately HKD 2.7 million for the three months ended June 30, 2022, compared to a loss of HKD 1.7 million in the same period of 2021, primarily due to a decrease in revenue and gross profit[60] Revenue and Costs - Revenue from restaurant operations for the three months ended June 30, 2022, was HKD 7,295,000, a decrease of 38.5% from HKD 11,776,000 in the same period of 2021[23] - The cost of goods sold for the same period was HKD 1,528,000, down from HKD 2,439,000 in 2021, representing a 37.5% reduction[28] - The cost of goods sold decreased by approximately 37.5% from about HKD 2.4 million to about HKD 1.5 million during the same periods[47] - Gross profit for the three months ended June 30, 2022, was approximately HKD 5.8 million, a decrease of about 37.6% from approximately HKD 9.3 million in 2021[48] - The group maintained a stable gross margin of 79.1% in 2022 compared to 79.3% in 2021[48] Expenses - The group’s employee benefit expenses for the three months ended June 30, 2022, were HKD 4,266,000, a decrease of 14.1% from HKD 4,967,000 in the same period of 2021[28] - Depreciation expenses for the three months ended June 30, 2022, were approximately HKD 1.1 million, an increase of about 10.0% compared to HKD 1.0 million for the same period in 2021[53] - Property rental and related expenses decreased by approximately 50.0% to about HKD 0.2 million for the three months ended June 30, 2022, from HKD 0.4 million in the same period of 2021[54] - Administrative expenses decreased by approximately 18.4% to about HKD 3.1 million for the three months ended June 30, 2022, down from HKD 3.8 million in the same period of 2021[56] Dividends and Shareholder Information - The board of directors has resolved not to declare an interim dividend for the three months ended June 30, 2022[12] - The group did not declare or pay any dividends for the three months ended June 30, 2022, consistent with the same period in 2021[35] - Fortune Round Limited holds 1,500,000,000 shares, representing 56.7% ownership[97] - Keenfull Investments Limited owns 317,280,000 shares, accounting for 12.0% of the total shares[97] - The company has a stock option plan that allows for the purchase of 60,000,000 shares at an exercise price of HKD 0.163 per share[101] - As of June 30, 2022, no stock options have been exercised during the reporting period[101] - The company’s major shareholders include Wang Wenwei and his spouse, who collectively hold 56.7% of the shares[98] Operational Challenges and Future Plans - The group faced significant operational challenges due to COVID-19 restrictions, particularly during the fifth wave of the pandemic in early 2022[38] - The group plans to diversify into the luxury watch trading business while continuing to explore suitable locations for new restaurant openings[39] - The group plans to strengthen its position in urban Hong Kong and explore opportunities for introducing popular restaurant brands through franchising or partnerships[86] Financial Position - As of June 30, 2022, the group's cash and cash equivalents were approximately HKD 52.6 million, an increase from HKD 42.7 million as of June 30, 2021[69] - Total borrowings as of June 30, 2022, were approximately HKD 19.8 million, a decrease from HKD 26.4 million as of June 30, 2021[71] - The group's debt-to-equity ratio as of June 30, 2022, was approximately 49.1%, a slight decrease from 51.4% as of June 30, 2021, mainly due to reduced borrowings[73] - The net proceeds from the listing amounted to approximately HKD 41.3 million, fully utilized by March 31, 2022[61] - The group had no significant contingent liabilities as of June 30, 2022[75] Compliance and Governance - The audit committee was established in accordance with GEM Listing Rules and consists of three independent non-executive directors[105] - The audit committee is responsible for recommending the appointment or removal of external auditors and reviewing financial statements[105] - The quarterly financial statements for the three months ended June 30, 2022, have been reviewed by the audit committee[105] - The company has adopted a code of conduct for securities trading, ensuring compliance with GEM listing rules[104] - The board of directors confirmed adherence to the trading standards during the three-month period ending June 30, 2022[104] Market Conditions - All revenue for the three months ending June 30, 2022, was generated from restaurants in urban Hong Kong, making the business susceptible to local economic conditions[83] - The group maintains a cautious outlook on profitability for the coming months due to economic downturns and the impact of the pandemic[86] - The minimum wage in Hong Kong was raised from HKD 34.5 to HKD 37.5 per hour, effective May 1, 2019, which may further increase employee costs[85] - The group has obtained licenses or leases for all properties operated in urban Hong Kong as of June 30, 2022, facing risks related to commercial real estate leasing[85] - The group reported minimal foreign exchange risk due to limited transactions and monetary assets denominated in Renminbi during the periods ending June 30, 2021, and June 30, 2022[79] - The group has no foreign exchange contracts or financial derivatives for hedging purposes as of the reporting periods[79]

Financial Performance - Revenue for the year ended March 31, 2022, was HKD 36,206,000, a decrease of 15.5% from HKD 42,707,000 in the previous year[28]. - The company reported a loss before tax of HKD (10,138,000), compared to a loss of HKD (5,161,000) in the prior year, indicating a worsening financial performance[28]. - Total assets decreased to HKD 74,354,000 from HKD 89,922,000, reflecting a decline of approximately 17.3%[28]. - The total equity decreased to HKD 43,047,000 from HKD 53,225,000, representing a reduction of about 19.1%[28]. - The company's revenue decreased by approximately 15.2% from about HKD 42.7 million for the year ended March 31, 2021, to about HKD 36.2 million for the year ended March 31, 2022[39]. - Gross profit for the year ended March 31, 2022, was approximately HKD 28.3 million, a decrease of about 16.3% from HKD 33.8 million for the previous year[42]. - The gross profit margin slightly declined from 79.3% in 2021 to 78.2% in 2022[42]. - The company recorded a loss of approximately HKD 10.2 million for the year ended March 31, 2022, compared to a loss of HKD 3.5 million in the previous year[55]. Assets and Liabilities - The net current assets increased to HKD 37,141,000 from HKD 15,907,000, showing a significant improvement in liquidity[28]. - The total liabilities decreased to HKD 31,307,000 from HKD 36,697,000, indicating a reduction in financial obligations[28]. - The total borrowings of the group as of March 31, 2022, were approximately HKD 20.9 million, a decrease from approximately HKD 25.5 million as of March 31, 2021[70]. - The group's capital debt ratio as of March 31, 2022, was approximately 48.7%, slightly up from 47.8% as of March 31, 2021[72]. Business Strategy and Operations - The company has obtained franchise rights for two well-known restaurant brands in Hong Kong, including the popular Taiwanese cuisine brand "Duo Xiao Yue"[25]. - The company plans to adopt a conservative and prudent business strategy to support daily operations and explore new business opportunities amid economic uncertainties[24]. - The company aims to diversify its business further to achieve stable returns in the future[24]. - The company plans to diversify into the luxury watch retail business in Hong Kong, funded by internal resources, and has opened a physical store in Tsim Sha Tsui[32]. - The company has implemented cost control measures and is regularly evaluating its business strategies in response to the ongoing economic uncertainty[32]. - The company plans to manage expenses conservatively while seeking market opportunities to improve financial performance[90]. Employee and Operational Costs - Employee costs decreased by approximately 8.8% from HKD 20.5 million to HKD 18.7 million for the year ended March 31, 2022, with the number of employees reduced from 99 to 32[45]. - Depreciation expenses decreased by about 14.9% from HKD 4.7 million to HKD 4.0 million due to a reduction in the number of operating restaurants[46]. - Property rental and related expenses decreased by approximately 22.2% from HKD 1.8 million to HKD 1.4 million, primarily due to restaurant closures[47]. - The group faced significant operational challenges due to strict COVID-19 restrictions, including a ban on dine-in services during certain hours[32]. Corporate Governance - The management emphasized the importance of maintaining high corporate governance standards, adhering to the GEM listing rules to ensure transparency and accountability[106]. - The board of directors consists of three executive directors and three independent non-executive directors, ensuring a balanced governance structure[109]. - The company has complied with all trading regulations, with no reported violations during the fiscal year, reflecting strong adherence to ethical standards[108]. - The audit committee is composed of three independent non-executive directors, ensuring compliance with corporate governance standards[121]. - The company has maintained high levels of corporate governance, including regular reviews of compliance with legal and regulatory requirements[120]. Future Outlook and Growth - The company has set a future outlook with a revenue growth target of 10-15% for the next fiscal year, driven by new product launches and market expansion strategies[106]. - New product development initiatives are underway, with an investment of HKD 50 million allocated for research and development in innovative dining solutions[106]. - The company plans to expand its market presence by opening 10 new locations across key urban areas in the next fiscal year, aiming to increase market share by 5%[106]. - A strategic acquisition of a local competitor is in progress, expected to enhance the company's operational capabilities and customer base by approximately 30%[106]. Environmental and Social Responsibility - The group encourages environmental protection and has complied with relevant environmental laws and regulations throughout the reporting period[164]. - The group has established an environmental management system to promote continuous improvement in environmental performance[164]. - The group made donations amounting to approximately HKD 213,000 for the year ended March 31, 2022, compared to HKD 103,000 in the previous year, representing a 106.8% increase[166].

Financial Performance - For the nine months ended December 31, 2021, the group recorded unaudited revenue of approximately HKD 32,000,000, a decrease of about 3.0% compared to HKD 33,000,000 for the same period in 2020[7]. - The group reported an unaudited loss attributable to owners of approximately HKD 3,400,000 for the nine months ended December 31, 2021, compared to a loss of approximately HKD 1,200,000 for the same period in 2020[7]. - Basic and diluted loss per share attributable to owners was HKD 0.13 for the nine months ended December 31, 2021, compared to HKD 0.04 for the same period in 2020[7]. - Gross profit for the nine months ended December 31, 2021, was HKD 25,142,000, down from HKD 26,140,000 for the same period in 2020[11]. - Operating loss for the nine months ended December 31, 2021, was HKD 1,718,000, compared to an operating profit of HKD 578,000 for the same period in 2020[11]. - Total comprehensive loss for the nine months ended December 31, 2021, was HKD 3,440,000, compared to a total comprehensive loss of HKD 565,000 for the same period in 2020[11]. - The group incurred employee costs of HKD 14,865,000 for the nine months ended December 31, 2021, compared to HKD 15,627,000 for the same period in 2020[11]. - Other income for the nine months ended December 31, 2021, was HKD 6,450,000, down from HKD 9,865,000 for the same period in 2020[11]. - The group reported a pre-tax loss of HKD 6,813,000 for the nine months ended December 31, 2021, compared to a loss of HKD 6,899,000 for the same period in 2020, indicating a slight improvement[32]. - The income tax expense for the nine months ended December 31, 2021, was HKD 1,028,000, compared to HKD 371,000 for the same period in 2020, representing a significant increase[34]. Dividend and Shareholder Information - The board of directors decided not to declare an interim dividend for the nine months ended December 31, 2021[8]. - The company did not declare or pay any dividends for the nine months ended December 31, 2021, consistent with the same period in 2020[39]. - As of December 31, 2021, the major shareholder, Fortune Round Limited, holds 1,500,000,000 shares, representing 56.7% of the total equity[99]. - Both Lin Huijun and Chen Zetao hold 20,000,000 shares each, accounting for 0.76% of the total equity[96]. - Li Chi Keung and Wong Hoi Ping each hold 317,280,000 shares through Keenfull Investments Limited, representing 12.0% of the total equity[99]. Operational Changes - As of December 31, 2021, the company operated three restaurants, down from five restaurants as of December 31, 2020[44]. - The company has adopted cost control measures and is regularly evaluating its business strategies in response to the ongoing impact of the COVID-19 pandemic[43]. - The company plans to adopt a conservative and prudent business strategy to support daily operations amid economic uncertainties[43]. - The group aims to strengthen its position in the Hong Kong dining sector and explore opportunities for introducing popular restaurant brands through franchising or partnerships[89]. - Due to economic recession and the pandemic, the group has adopted a conservative business strategy to support daily operations and manage economic uncertainties[90]. Financial Position and Commitments - The group’s accumulated losses increased to HKD 93,159,000 as of December 31, 2021, from HKD 89,719,000 as of April 1, 2021[13]. - Cash and cash equivalents increased by approximately 103.8% from HKD 32,000,000 in 2020 to HKD 65,200,000 in 2021, mainly due to net proceeds from property sales[74]. - As of December 31, 2021, the total borrowings of the group amounted to approximately HKD 19,800,000, an increase from HKD 13,400,000 as of December 31, 2020[76]. - The capital-to-debt ratio as of December 31, 2021, was approximately 39.7%, up from 23.7% as of December 31, 2020, primarily due to increased bank borrowings[79]. - The group had approximately HKD 15,500,000 in outstanding bank financing commitments as of December 31, 2021, compared to none as of December 31, 2020[76]. - The group has no significant capital commitments or contingent liabilities as of December 31, 2021[80][81]. Expenses and Cost Management - Employee benefits expenses, including salaries and allowances, totaled HKD 14,379,000 for the nine months ended December 31, 2021, down from HKD 15,072,000 in the previous year, showing a reduction of 4.6%[32]. - Total other income decreased by approximately 34.3% from HKD 9,900,000 in 2020 to HKD 6,450,000 in 2021, primarily due to a reduction in government subsidies[56]. - Employee costs decreased by approximately 4.5% from HKD 15,600,000 in 2020 to HKD 14,900,000 in 2021, attributed to cost control measures[57]. - Depreciation expenses decreased by approximately 9.3% from HKD 3,200,000 in 2020 to HKD 2,900,000 in 2021, due to a reduction in the number of operating restaurants[58]. - Fuel and utility expenses increased by approximately 16.7% from HKD 1,200,000 in 2020 to HKD 1,400,000 in 2021, driven by increased usage in several restaurants[60]. - Administrative expenses decreased by approximately 7.1% from HKD 14,100,000 in 2020 to HKD 13,100,000 in 2021, mainly due to reductions in travel, legal, and marketing expenses[61]. Compliance and Governance - The company has adopted a code of conduct for directors' securities transactions, ensuring compliance with GEM listing rules[105]. - The company established an audit committee in accordance with GEM Listing Rules, consisting of three independent non-executive directors[107]. - The audit committee is responsible for reviewing the financial statements and overseeing the effectiveness of internal control procedures[107]. - The financial statements for the nine months ending December 31, 2021, have been reviewed by the audit committee[107]. - The company has confirmed that all directors complied with the trading standards during the nine-month period ending December 31, 2021[105]. Risks and Market Conditions - The group faces risks related to seasonal fluctuations in revenue from its restaurants in Hong Kong and potential impacts from external events such as natural disasters or economic downturns[85]. - The minimum wage in Hong Kong has increased from HKD 34.5 to HKD 37.5 per hour, which may further impact future employee costs[87]. - The group has no significant foreign exchange risk as most transactions are settled in HKD and RMB, with minimal exposure to other currencies[82]. - The group will continue to monitor business trends and seek market opportunities to improve financial performance while managing expenses prudently[90].

Financial Performance - For the six months ended September 30, 2021, the group recorded unaudited revenue of approximately HKD 22,700,000, an increase of about 3.7% compared to HKD 21,900,000 for the same period in 2020[4] - The group reported an unaudited loss attributable to owners of the company of approximately HKD 600,000, a decrease from a loss of approximately HKD 1,100,000 for the same period in 2020[4] - Basic and diluted loss per share attributable to owners of the company was HKD 0.02, improved from HKD 0.04 for the same period in 2020[4] - The group achieved an operating profit of HKD 777,000, compared to HKD 349,000 for the same period in 2020, indicating improved operational efficiency[7] - The company reported a cumulative loss of HKD (90,328,000) as of September 30, 2021, compared to HKD (86,343,000) at the end of the previous period[12] - The group recorded a loss of approximately HKD 600,000 for the six months ended September 30, 2021, compared to a loss of HKD 700,000 in the same period of 2020[93] Dividend and Shareholder Information - The board of directors did not recommend the payment of an interim dividend for the six months ended September 30, 2021[5] - The company did not declare or pay any dividends for the six months ended September 30, 2021, consistent with the previous year[33] - As of September 30, 2021, the major shareholder, Fortune Round Limited, holds 1,500,000,000 shares, representing 56.7% of the total equity[130] - Both Ms. Lin Huijun and Mr. Chen Zetao are beneficial owners of 20,000,000 shares each, accounting for 0.76% of the total equity[127] - Keenfull Investments Limited, owned by Mr. Li Chi Keung, holds 317,280,000 shares, representing 12.0% of the total equity[130] - Mr. Li Chi Keung is the father-in-law of Mr. Wang Wenwei, linking the ownership structure[132] Cash Flow and Liquidity - Cash and cash equivalents increased to HKD 68,994,000 from HKD 44,862,000 as of March 31, 2021, reflecting improved liquidity[9] - The total cash and cash equivalents at the end of the reporting period was HKD 68,994,000, up from HKD 36,047,000 at the end of the same period last year[15] - The net cash used in operating activities for the six months ended September 30, 2021, was HKD (722,000), compared to HKD 2,170,000 in the prior year[15] - The company generated net cash from investing activities of HKD 33,825,000, a significant increase from HKD 911,000 in the previous year[15] - Cash and cash equivalents increased by approximately 91.7% to HKD 69,000,000 as of September 30, 2021, from HKD 36,000,000 a year earlier, primarily due to net proceeds from property sales[102] Operational Efficiency and Cost Management - Administrative expenses decreased to HKD 8,904,000 from HKD 10,635,000 for the same period in 2020, indicating cost control measures[7] - Employee benefits expenses, including salaries and allowances, totaled HKD 10,157,000 for the period, marginally up from HKD 10,126,000 in the prior year[26] - Employee costs remained stable at approximately HKD 10,500,000 for the six months ended September 30, 2021, with a reduction in headcount from 108 to 75 employees[75] - Depreciation expenses were stable at approximately HKD 2,200,000 and HKD 2,100,000 for the six months ended September 30, 2020, and 2021, respectively[76] - Administrative expenses decreased by approximately 16.0% from HKD 10,600,000 for the six months ended September 30, 2020, to HKD 8,900,000 for the same period in 2021[79] Assets and Liabilities - Total assets less current liabilities amounted to HKD 54,005,000 as of September 30, 2021, slightly down from HKD 54,138,000 as of March 31, 2021[11] - The group’s total equity as of September 30, 2021, was HKD 52,616,000, a slight decrease from HKD 53,225,000 as of March 31, 2021[11] - As of September 30, 2021, the company had total bank borrowings of HKD 15,500,000, unchanged from March 31, 2021[53] - The company’s total current liabilities decreased to HKD 6,202,000 as of September 30, 2021, from HKD 9,958,000 as of March 31, 2021[36] - Total borrowings amounted to approximately HKD 21,700,000 as of September 30, 2021, up from HKD 17,100,000 a year earlier[103] Business Operations and Strategy - The company continues to focus on its core business of providing leisure dining services in Hong Kong[18] - The company operates four restaurants in Hong Kong as of September 30, 2021, with a focus on leisure dining services[60] - The company has not reported any new product launches or significant market expansions during this period[22] - The company has adopted cost control measures and is exploring new business opportunities to mitigate the impact of the COVID-19 pandemic[66] - The company plans to adopt a conservative business strategy to support daily operations and address economic uncertainties, focusing on maintaining sufficient working capital[119] Governance and Compliance - The company has adopted a code of conduct for directors regarding securities trading, ensuring compliance with GEM Listing Rules[137] - The Audit Committee, established on July 21, 2016, is responsible for reviewing financial statements and overseeing internal control effectiveness[138] - The Audit Committee consists of three independent non-executive directors, with Mr. Ma Yiu Ho as the chairman[138]

Financial Performance - For the three months ended June 30, 2021, the group recorded unaudited revenue of approximately HKD 11,800,000, a decrease of about 2.5% compared to HKD 12,100,000 for the same period in 2020[5]. - The group reported an unaudited loss attributable to owners of the company of approximately HKD 1,700,000, compared to a loss of approximately HKD 800,000 for the same period in 2020[5]. - Basic and diluted loss per share attributable to owners of the company was HKD 0.07, compared to HKD 0.03 for the same period in 2020[5]. - The gross profit for the three months ended June 30, 2021, was HKD 9,337,000, down from HKD 9,619,000 in the same period of 2020[8]. - Operating loss for the period was HKD 1,059,000, compared to an operating profit of HKD 177,000 for the same period in 2020[8]. - Total comprehensive loss for the period was HKD 1,731,000, compared to HKD 554,000 for the same period in 2020[8]. - The group's revenue for the three months ended June 30, 2021, was HKD 11,776,000, a decrease of 2.5% from HKD 12,080,000 in the same period of 2020[18]. - The group reported a pre-tax loss of HKD 1,731,000 for the three months ended June 30, 2021, compared to a loss of HKD 828,000 in the same period of 2020[27]. - The company recorded a loss of approximately HKD 1,700,000 for the three months ended June 30, 2021, compared to a loss of about HKD 600,000 in the same period in 2020[49]. Dividends and Equity - The board of directors does not recommend the payment of an interim dividend for the three months ended June 30, 2021[6]. - The group did not declare or pay any dividends for the three months ended June 30, 2021, consistent with the same period in 2020[29]. - The group’s total equity as of June 30, 2021, was HKD 51,494,000, down from HKD 57,546,000 as of June 30, 2020[10]. Expenses and Costs - The group incurred administrative expenses of HKD 3,811,000, a decrease from HKD 6,355,000 in the same period of 2020[8]. - The cost of goods sold for the same period was HKD 2,439,000, slightly down from HKD 2,461,000 in 2020[22]. - Other income decreased by approximately 95.4% from about HKD 4,300,000 to about HKD 200,000, primarily due to a reduction in government subsidies and COVID-19 related rent concessions[40]. - Employee costs decreased by approximately 9.1% from about HKD 5,500,000 to about HKD 5,000,000, with the number of employees reducing from 111 to 96[41]. - Administrative expenses decreased by approximately 40.6% from about HKD 6,400,000 to about HKD 3,800,000 due to reductions in marketing and professional fees[45]. Corporate Governance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15, ensuring transparency and accountability to protect shareholder interests[71]. - The board believes that Mr. Wang's dual role as Chairman and CEO is in the best interest of the company, despite deviating from the governance code[72]. - No conflicts of interest were reported among directors or major shareholders during the review period[73]. - The company maintains a high standard of corporate governance to ensure shareholder protection and transparency[71]. - The company has adopted a code of conduct for directors regarding securities trading, in compliance with GEM Listing Rules[86]. - The Audit Committee, established on July 21, 2016, is responsible for reviewing financial statements and overseeing internal control procedures[87]. - The Audit Committee consists of three independent non-executive directors, with Mr. Ma Yiu Ho as the chairman[87]. - All directors confirmed compliance with the trading standards during the three-month period ending June 30, 2021[86]. - The company regularly reminds directors of the trading restrictions prior to the announcement of financial results[86]. Business Strategy and Operations - The company continues to focus on providing leisure dining services in Hong Kong[13]. - The company continues to focus on casual dining services as its core business[35]. - The company plans to continue consolidating its position in the airport restaurant sector and diversify its business in urban Hong Kong[68]. - Due to economic recession and adverse impacts from the pandemic, the company will adopt a conservative business strategy to support daily operations and manage expenses carefully[69]. - The company aims to strengthen existing business development and provide stable returns and growth prospects for shareholders[70]. Shareholder Information - Mr. Wang Wenwei holds 1,500,000,000 shares, representing 56.7% of the company's equity, through Fortune Round Limited, which he fully owns[74]. - Ms. Lin Huijun and Mr. Chen Zetao each hold 20,000,000 shares, accounting for 0.76% of the company's equity, granted under the share option plan[76]. - Keenfull Investments Limited, owned by Mr. Li Chi Keung, holds 317,280,000 shares, representing 12.0% of the company's equity[79]. - The company has a share option plan adopted on July 21, 2016, allowing the exercise of options for a total of 60,000,000 shares at an exercise price of HKD 0.163 per share[83]. - As of June 30, 2021, the company has not purchased, sold, or redeemed any shares during the review period[74]. - As of June 30, 2021, no other individuals, apart from directors and major executives, were reported to have interests in the company's shares that required disclosure[81]. - As of June 30, 2021, there were no stock options granted during the three-month period[84]. - The total number of unexercised stock options as of June 30, 2021, was 60,000,000[84]. Financial Position - As of June 30, 2021, the group's cash and cash equivalents were approximately HKD 42,700,000, an increase of about 14.2% from HKD 37,400,000 as of June 30, 2020[58]. - The total borrowings as of June 30, 2021, were approximately HKD 26,400,000, a decrease from HKD 28,300,000 as of June 30, 2020[60]. - The capital-to-debt ratio as of June 30, 2021, was approximately 51.4%, up from 35.7% as of June 30, 2020, primarily due to an increase in total borrowings[62]. - The company raised approximately HKD 29,840,000 from the first placement of 202,800,000 shares at a price of HKD 0.15 per share, with a net price of HKD 0.147 per share[52]. - The second placement raised approximately HKD 45,200,000 from 440,560,000 shares at a price of HKD 0.105 per share, with a net price of HKD 0.103 per share[52]. - As of March 31, 2021, the unutilized listing proceeds were planned for use in the fiscal year ending March 31, 2022, with all unutilized balances deposited in a licensed bank in Hong Kong[51]. Other Information - The group applied the new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial statements for the period[17]. - The group has no independent operating segment financial information due to resource concentration[16]. - As of June 30, 2021, the group operated six restaurants, including "Chinese Kitchen," which has been temporarily closed since February 10, 2020[32]. - Bank borrowing interest increased to HKD 109,000 from HKD 11,000 year-on-year, while lease liabilities interest decreased to HKD 167,000 from HKD 283,000[21].

Business Operations - The company operates five restaurants in Hong Kong under the brands "Duo Xiao Yue," "Hanlin Tea House," and "Da Jia Taiwan" as of March 31, 2021[10]. - The company has expanded its own brand restaurant network at Hong Kong International Airport since 2005, including "Nosh Café & Bar" and "Coffee Express" among others[11]. - The company acquired franchise rights for two well-known dining brands in Hong Kong, "Duo Xiao Yue" and "Hanlin Tea House"[12]. - The company aims to strengthen its brand portfolio and expand its restaurant operations in Hong Kong and at the airport[12]. - The company is focused on seeking opportunities to launch well-known restaurant brands and expand its business presence[12]. - The company has a long history in the Hong Kong dining industry, with its first self-owned brand restaurant opening in 1993[11]. - The company operates various restaurant brands, with 100% ownership in several locations, including the "China Kitchen" at Hong Kong International Airport[19]. - The overall economic activity in Hong Kong remains below pre-recession levels due to the ongoing impact of the pandemic, affecting the restaurant industry significantly[17]. - The group recorded a loss of approximately HKD 3.5 million for the year ended March 31, 2021, compared to a loss of approximately HKD 67.9 million for the same period in 2020, primarily due to reductions in employee costs and depreciation expenses, as well as increased government subsidies[36]. - The group operates various restaurant brands in Hong Kong, including "Chinese Kitchen," "Taiwan Diner," and "Hanlin Tea Room," with multiple locations[198]. Financial Performance - The fiscal year ending March 31, 2021, was challenging due to the impact of the COVID-19 pandemic, prompting the company to adopt conservative business strategies[12]. - The company's revenue decreased by approximately 37.9% from about HKD 68.8 million in the year ended March 31, 2020, to about HKD 42.7 million in the year ended March 31, 2021[21]. - The pre-tax loss for the year ended March 31, 2021, was HKD 5.161 million, compared to a loss of HKD 66.867 million in the previous year[21]. - Total assets decreased from HKD 99.595 million in 2020 to HKD 89.922 million in 2021, a reduction of approximately 9.4%[21]. - The total equity decreased from HKD 58.1 million in 2020 to HKD 53.225 million in 2021, reflecting a decline of about 8.5%[21]. - The company's gross profit decreased by approximately 38.4% from HKD 54.9 million in 2020 to HKD 33.8 million in 2021[23]. - Other income increased by approximately 140.0% from about HKD 5.511 million in 2020 to about HKD 13.223 million in 2021, primarily due to government subsidies and rent reductions related to COVID-19[27]. - Employee costs decreased by approximately 39.2% from about HKD 33.7 million in 2020 to about HKD 20.5 million in 2021[28]. - The group has no distributable reserves as of March 31, 2021 (2020: none)[151]. - The group made donations amounting to approximately HKD 103,000 for the year ended March 31, 2021 (2020: HKD 264,000)[148]. Strategic Focus - The company is committed to enhancing its existing restaurant operations for the benefit of its shareholders[12]. - The company plans to adopt a conservative business strategy to support operations amid economic uncertainty and seek opportunities to expand its presence in Hong Kong[20]. - The company aims to strengthen its position in operating restaurants at Hong Kong International Airport and diversify its business in urban Hong Kong, seeking opportunities to introduce popular restaurant brands through franchising or other collaborations[67]. - The management maintains a cautious and prudent attitude towards profitability in the coming months, continuously monitoring business trends to identify favorable conditions for expansion[68]. - The company has adopted a conservative and prudent business strategy due to adverse impacts from economic recession and the pandemic, focusing on maintaining sufficient working capital for daily operations[68]. Corporate Governance - The company has adopted the corporate governance code as per GEM listing rules, ensuring high standards of transparency and accountability[82]. - The board consists of three executive directors and three independent non-executive directors, maintaining a balanced governance structure[85]. - The company has complied with the corporate governance code for the year ending March 31, 2021, with the exception of deviation from code provision A.2.1[82]. - The chairman and CEO roles are held by the same individual, which the board believes is in the best interest of the company for effective management[83]. - The company has a financial risk management framework in place, overseen by the finance director, to ensure sound financial planning and internal controls[80]. - The board is responsible for the overall management of the company, including leading and monitoring its operations[86]. - The company has established committees for audit, remuneration, nomination, and investment to enhance governance practices[88]. - Independent non-executive directors constitute at least one-third of the board, ensuring independence and compliance with GEM listing rules[89]. - The board held a total of 8 meetings and 1 annual general meeting during the fiscal year ending March 31, 2021, with all directors attending all meetings[92]. - The Audit Committee convened 5 meetings during the fiscal year, reviewing the financial results for the year ending March 31, 2020, and the quarterly results for the subsequent periods[101]. Risk Management - The group faces significant risks and uncertainties, including potential revenue fluctuations from seasonal factors and the impact of future developments in the Hong Kong urban restaurant sector[43][44]. - The group has established a risk management process that includes risk identification, assessment, management, and control[125]. - The company faces risks related to the commercial real estate leasing market, including potential high rental costs[46]. - The group’s credit risk is primarily associated with accounts receivable, deposits, and cash equivalents, with management implementing monitoring procedures to mitigate this risk[60]. Environmental, Social, and Governance (ESG) - The report covers the operational activities from April 1, 2020, to March 31, 2021, focusing on environmental, social, and governance (ESG) initiatives[198]. - The group aims to provide quality food and a comfortable dining environment while ensuring sustainable development for society and the environment[196]. - Management is committed to promoting environmental protection and corporate governance to achieve long-term goals[196]. - The ESG report outlines the group's efforts in managing its business impacts on the environment and society[197]. - The group emphasizes the importance of stakeholder communication regarding its ESG performance[197]. - The report includes a summary of sustainable practices implemented during the reporting period[197]. - The company encourages environmental protection and promotes environmental awareness among employees[145]. Shareholder Relations - The company allows shareholders holding at least 10% of the paid-up capital to request a special general meeting[135]. - The company’s website provides access to all corporate communications and governance documents, which will be updated regularly[133]. - The board does not recommend the payment of any final dividend for the year ended March 31, 2021 (2020: none)[143]. - The company aims to provide stable and sustainable returns to shareholders through its dividend policy, considering factors such as operating performance, cash flow, and financial condition[120].

Financial Performance - For the nine months ended December 31, 2020, the group recorded unaudited revenue of approximately HKD 33,000,000, a decrease of about 43.5% compared to HKD 58,400,000 for the same period in 2019[6]. - The group reported an unaudited loss attributable to owners of the company of approximately HKD 1,200,000 for the nine months ended December 31, 2020, compared to a loss of HKD 21,600,000 for the same period in 2019[6]. - Basic and diluted loss per share attributable to owners of the company was HKD 0.04 for the nine months ended December 31, 2020, compared to HKD 0.82 for the same period in 2019[6]. - For the three months ended December 31, 2020, the group recorded unaudited revenue of HKD 11,136,000, down from HKD 14,305,000 for the same period in 2019[9]. - The gross profit for the nine months ended December 31, 2020, was HKD 26,140,000, compared to HKD 46,778,000 for the same period in 2019[9]. - Operating profit for the nine months ended December 31, 2020, was HKD 578,000, compared to an operating loss of HKD 19,706,000 for the same period in 2019[9]. - The group reported a total comprehensive income of HKD 565,000 for the nine months ended December 31, 2020, compared to a total comprehensive loss of HKD 22,583,000 for the same period in 2019[9]. - The total comprehensive loss for the period was HKD 22,583,000, compared to a loss of HKD 21,602,000 in the previous period[12]. - The accumulated losses as of December 31, 2020, reached HKD 86,366,000, reflecting a significant increase from HKD 41,110,000 as of December 31, 2019[12]. - The company reported a loss attributable to owners of HKD 23,000 for the three months ended December 31, 2020, compared to a loss of HKD 11,116,000 in the same period of 2019, showing an improvement in performance[33]. Cost Management - The group experienced a significant reduction in employee costs, which were HKD 15,627,000 for the nine months ended December 31, 2020, down from HKD 27,601,000 for the same period in 2019[9]. - The group recorded a decrease in administrative expenses to HKD 14,007,000 for the nine months ended December 31, 2020, compared to HKD 16,231,000 for the same period in 2019[9]. - Financial costs for the nine months ended December 31, 2020, amounted to HKD 726,000, a decrease of 53.8% from HKD 1,567,000 in the same period of 2019[26]. - The cost of goods sold decreased by approximately 40.5% from about HKD 11.6 million to about HKD 6.9 million during the same periods[53]. - Employee benefits expenses, including salaries and allowances, totaled HKD 4,946,000 for the three months ended December 31, 2020, down from HKD 8,325,000 in the same period of 2019, reflecting a reduction of approximately 40.5%[27]. - Depreciation expenses for the nine months ended December 31, 2020, were approximately HKD 3,200,000, a decrease of about 83.6% compared to HKD 19,500,000 for the same period in 2019, primarily due to a reduction in the number of operating restaurants and impairment losses recognized[62]. - Property rental and related expenses for the nine months ended December 31, 2020, were approximately HKD 1,200,000, down about 45.5% from HKD 2,200,000 in the same period of 2019, mainly due to a decrease in the number of operating restaurants[63]. - Fuel and utility expenses decreased by approximately 45.5% to HKD 1,200,000 for the nine months ended December 31, 2020, from HKD 2,200,000 in the same period of 2019, attributed to reduced revenue due to the pandemic[64]. - Administrative expenses decreased by approximately 13.6% to HKD 14,000,000 for the nine months ended December 31, 2020, from HKD 16,200,000 in the same period of 2019, mainly due to reductions in travel and transportation costs[65]. - Income tax expenses for the nine months ended December 31, 2020, were approximately HKD 400,000, a decrease of about 66.7% from HKD 1,200,000 in the same period of 2019, primarily due to a reduction in taxable profits from several restaurants[67]. Impact of COVID-19 - The ongoing COVID-19 pandemic has introduced significant uncertainty into the company's operating environment, impacting its operations and financial condition[39]. - The financial impact of the COVID-19 outbreak on the company's operations remains uncertain and cannot be fully estimated at this time[40]. - The impact of the pandemic has led to a significant reduction in customer visits and dining demand, affecting overall financial performance[49]. - The company is actively seeking financial support from the Hong Kong government’s anti-epidemic fund and is negotiating to reduce restaurant rental costs[39]. - The company plans to reassess the operational performance of each restaurant and adjust future expansion plans accordingly[39]. - The company has adopted a conservative business strategy in response to the economic uncertainty caused by the pandemic[49]. - The company recorded a loss of approximately HKD 600,000 for the nine months ended December 31, 2020, significantly reduced from a loss of HKD 22,600,000 in the same period of 2019, mainly due to government subsidies and rent reductions[69]. Shareholder Information - As of December 31, 2020, the company had a total of 1,500,000,000 shares held by Fortune Round Limited, representing 56.7% ownership[104]. - Key shareholders include Li Chi Keung with 317,280,000 shares, representing 12.0% ownership[108]. - The company’s major shareholders include Wong Hoi Ping, who also holds 12.0% through Keenfull Investments Limited[108]. - The company did not purchase, sell, or redeem any shares during the review period[101]. - No stock options were granted during the nine-month period ending December 31, 2020[114]. - As of December 31, 2020, there were 60,000,000 unexercised stock options remaining[114]. Compliance and Governance - The financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[17]. - The company has applied new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the reported amounts[18]. - The company has adopted a code of conduct for directors regarding securities trading, ensuring compliance with GEM Listing Rules[116]. - The Audit Committee, established in accordance with GEM Listing Rules, is responsible for reviewing financial statements and overseeing internal control effectiveness[117]. - The Audit Committee consists of three independent non-executive directors, with Mr. Ma Yiu Ho serving as the chairman[117]. Business Strategy - The company continues to focus on its core business of providing leisure dining services in Hong Kong[16]. - The group aims to strengthen its position in operating restaurants at Hong Kong International Airport and diversify its business in urban Hong Kong, seeking opportunities to introduce popular restaurant brands through franchises or partnerships[94]. - Due to economic recession and the pandemic, the group has adopted a conservative business strategy to support daily operations and manage uncertainties in the market[96]. - The group plans to maintain sufficient working capital to support daily operations while closely monitoring business trends for potential growth opportunities[96].