Financial Performance - Total revenue for the year 2023 was HKD 68,702,000, a decrease of 19.7% from HKD 85,585,000 in 2022[10] - The company reported a loss before tax of HKD (36,732,000) compared to a profit of HKD 3,929,000 in the previous year[10] - Total assets decreased to HKD 85,227,000 in 2023 from HKD 96,787,000 in 2022, reflecting a decline of 11.9%[10] - Current liabilities increased to HKD 54,206,000 in 2023 from HKD 39,506,000 in 2022, representing a rise of 37.2%[10] - Total equity dropped significantly to HKD 15,426,000 in 2023 from HKD 42,791,000 in 2022, a decrease of 64.0%[10] - The total liabilities increased to HKD 69,801,000 in 2023 from HKD 53,996,000 in 2022, marking a rise of 29.2%[10] - The group recorded a net loss of approximately HKD 6.8 million for the year ended March 31, 2023, compared to a net profit of approximately HKD 19.5 million for the previous year, a decrease of HKD 26.3 million[34] - The cost of raw materials and consumables was approximately HKD 28.8 million for the year ended March 31, 2023, accounting for about 41.9% of total revenue, compared to HKD 31.7 million and 37.0% for the previous year[33] - Employee costs increased by approximately 18.1% to HKD 38.5 million for the year ended March 31, 2023, up from HKD 32.6 million for the previous year[35] - Rental expenses decreased by approximately 44.2% to HKD 2.4 million for the year ended March 31, 2023, down from HKD 4.3 million for the previous year[37] Business Operations - The company has identified new strategies for market expansion and product development, although specific details were not disclosed in the report[10] - The management is focused on addressing the financial challenges and exploring potential avenues for recovery in the upcoming fiscal year[10] - The company operates all its restaurants in leased properties, facing high demand from competitors for attractive locations, which may impact future restaurant openings and relocations[54] - The reliance on a central kitchen for semi-processed or processed ingredients poses a risk, as any operational disruption could adversely affect business operations[54] - Labor shortages or rising labor costs are expected to increase operational costs and weaken profitability[54] - The company must obtain various approvals and licenses for its food and beverage operations, and losing or failing to renew these could have significant negative impacts[54] - Risks associated with the spread of COVID-19 and other infectious diseases may adversely affect the food and beverage industry[54] Market and Revenue Breakdown - In Q1 2023, total restaurant revenue in Hong Kong was estimated at HKD 27.6 billion, an increase of approximately 81.7% year-on-year[17] - The total procurement value for restaurants in the same period rose by about 73.8% to approximately HKD 9 billion[17] - The revenue for the brand "麻酸樂╱嫲孫樂" was approximately HKD 21.9 million, accounting for 31.9% of total revenue, a decrease of 6.4% compared to the previous year[22] - The brand "泰巷" recorded revenue of approximately HKD 15.0 million, representing 21.9% of total revenue, a decrease of 30.9% year-on-year[24] - The brand "峇峇娘惹" generated revenue of approximately HKD 23.5 million, making up 34.1% of total revenue, a decrease of 21.5% compared to the previous year[24] - The "銷售食材" segment recorded revenue of approximately HKD 5.5 million, accounting for 8.0% of total revenue, a decrease of 48.6% year-on-year[24] Corporate Governance - The board of directors consists of four executive directors and three independent non-executive directors, ensuring compliance with GEM listing rules regarding board composition[68] - The company has adopted a board diversity policy to enhance performance, considering factors such as gender, age, cultural background, and professional experience[71] - All independent non-executive directors have confirmed their independence according to GEM listing rules, contributing diverse business experience and expertise[72] - The company maintains a rigorous code of conduct for securities trading by directors, ensuring compliance with regulatory standards[80] - The board has established three committees: Audit and Risk Management Committee, Remuneration Committee, and Nomination Committee to oversee specific aspects of governance[68] - The company has implemented appropriate liability insurance for directors, with annual reviews of the coverage[67] - The chairman and CEO roles are separated to ensure effective oversight and management of the company[73] - The company emphasizes the importance of independent non-executive directors in providing strategic advice and ensuring high standards of financial reporting[79] - The board has maintained a balanced composition and sufficient independent elements to support effective governance[78] - The company has a policy for the rotation of directors, with one-third of the board standing for re-election at each annual general meeting[79] Shareholder Relations - The company has adopted a shareholder communication policy to ensure timely and equal access to information for shareholders and potential investors[113] - The company encourages feedback from investors and shareholders to improve investor relations and communication[114] - The independent auditor, Pan Chen & Co., received a total fee of HKD 700,000 for audit and non-audit services for the year ended March 31, 2023[121] Compliance and Risk Management - The company confirmed compliance with relevant laws and regulations, with no significant violations reported during the year[180] - The company has maintained compliance with the GEM listing rules regarding sufficient public float throughout the year and up to the date of the report[184] - The company has not been involved in any significant litigation or arbitration during the year, nor is it aware of any pending or threatened significant lawsuits or claims[195] - The company has adopted environmental measures, including reducing paper usage and recycling cooking oil, and has complied with all relevant environmental protection laws and regulations[190] Employee and Management Structure - The company has a total of 98 full-time employees and 51 part-time employees as of March 31, 2023, compared to 95 full-time and 60 part-time employees the previous year[189] - The group reported that the total number of senior management with a salary below HKD 1,000,000 was 2, with no individuals earning between HKD 1,000,000 and HKD 1,500,000[170] Strategic Acquisitions - The company completed the sale of its entire stake in Lucky State Investment Holdings Limited for HKD 3.375 million on November 18, 2022[25] - The acquisition of Jun Hsuan Engineering Limited was completed for a total consideration of HKD 34 million, including HKD 9 million in cash and HKD 25 million in shares[26] - The acquisition of Jun Hsuan Engineering Co., Ltd. was completed on March 6, 2023, with revenue of approximately HKD 2.8 million for the year ending March 31, 2023, representing about 4.1% of total revenue[182]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部 或任何部分內容而產生或因 倚賴該等內容而引致之任何損失承擔任何責任。 SIMPLICITY HOLDING LIMITED 倩 碧 控 股 有 限 公 司 * （於開曼群島註冊成立之有限公司） （股份代號：8367） 截至二零二三年三月三十一日止年度之全年業績 倩碧控股有限公司（「本公司」）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（「全 年業績」）。本公告載列本集團截至二零二三年三月三十一日止年度的年報全文，其 內容乃根據香港聯合交易所有限公司GEM證券上市規則（分別為「GEM」及「GEM 上市規則」）的相關披露規定而編製。全年業績已獲董事會及董事會轄下審核委員 會審閱。 承董事會命 倩碧控股有限公司 執行董事 蔡本立 香港，二零二三年六月二十九日 於本公告日期，本公司執行董事為蔡本立先生及梁煒泰先生； 及本公司獨立非執行董事為楊 ...

Revenue Performance - Revenue for the three months ended December 31, 2022, was HKD 17,310,000, a decrease of 40.6% compared to HKD 29,215,000 for the same period in 2021[7] - Revenue for the nine months ended December 31, 2022, was HKD 50,127,000, down 37.4% from HKD 80,069,000 in the previous year[7] - Total revenue for the nine months ended December 31, 2022, was HKD 50,127,000, a decrease of 37.4% compared to HKD 80,069,000 in the same period of 2021[20] - The company’s total revenue for the three months ended December 31, 2022, was HKD 17,310,000, a decrease of 40.5% from HKD 29,215,000 in the same period of 2021[20] - The company’s total revenue from food sales for the nine months ended December 31, 2022, was HKD 50,127,000, down 37.4% from HKD 80,069,000 in the same period of 2021[20] Loss and Financial Performance - The company reported a loss before tax of HKD 6,567,000 for the three months ended December 31, 2022, compared to a profit of HKD 429,000 in the same period of 2021[7] - The loss attributable to owners of the company for the nine months ended December 31, 2022, was HKD 23,728,000, compared to a profit of HKD 8,244,000 in the previous year[8] - Basic loss per share for the three months ended December 31, 2022, was HKD 0.68, compared to a loss of HKD 0.12 for the same period in 2021[8] - The total comprehensive loss for the three months ended December 31, 2022, was HKD 6,469,000, compared to a loss of HKD 1,022,000 in the same period of 2021[8] - For the nine months ended December 31, 2022, the group recorded total revenue of approximately HKD 50.1 million, a decrease of 37.5% compared to HKD 80.1 million for the same period last year[41] - The group recognized a loss attributable to owners of the company of approximately HKD 23.7 million for the nine months ended December 31, 2022[49] Expenses and Costs - The company incurred total expenses of HKD 23,752,000 for the nine months ended December 31, 2022, compared to total income of HKD 8,313,000 in the previous year[10] - Employee costs for the nine months ended December 31, 2022, were HKD 22,225,000, down 14.5% from HKD 26,039,000 in the same period of 2021[26] - The cost of raw materials and consumables was approximately HKD 17.8 million, representing 35.5% of total revenue, down from HKD 28.8 million and 36.0% respectively in the previous year[42] - Rental expenses for the nine months ended December 31, 2022, were approximately HKD 2.2 million, a decrease of about 29.0% from HKD 3.1 million in the same period last year[46] - Financing costs for the nine months ended December 31, 2022, totaled HKD 555,000, a decrease of 75.6% from HKD 2,273,000 in the previous year[24] Revenue by Segment - For the three months ended December 31, 2022, the revenue from Chinese cuisine was HKD 5,808,000, a decrease of 5.8% compared to HKD 6,167,000 in the same period of 2021[20] - The revenue from Thai cuisine for the same period was HKD 3,640,000, down 27.4% from HKD 5,020,000 in 2021[20] - Malaysian cuisine revenue was HKD 6,022,000, representing a decline of 23.7% from HKD 7,897,000 in the previous year[20] - The "麻酸樂╱嫲孫樂" brand generated revenue of approximately HKD 16.8 million, accounting for 33.5% of total revenue, reflecting a 9.7% decrease year-on-year due to the negative impact of COVID-19[39] - The "泰巷" brand reported revenue of approximately HKD 11.4 million, representing 22.8% of total revenue, with a significant decline of 40.9% compared to the previous year[40] - The "峇峇娘惹" brand achieved revenue of approximately HKD 17.2 million, which is 34.3% of total revenue, down 32.8% year-on-year due to COVID-19 impacts[40] - The "銷售食材" segment recorded revenue of approximately HKD 4.7 million, accounting for 9.4% of total revenue, with a decrease of 44.1% compared to the previous year[40] Dividends and Shareholder Information - The company did not recommend any dividend payment for the nine months ended December 31, 2022, consistent with the previous year[31] - Major shareholder MJL holds 480,000,000 shares, representing approximately 50% of the company's equity[58] - Linking World Limited, a subsidiary, holds 1,000 shares, representing 10% of its equity[59] Future Outlook and Strategy - The company expects economic activities to normalize post-pandemic, with a rebound in inbound tourism anticipated to boost restaurant business[37] - The company aims to enhance its core capabilities and improve business performance to achieve favorable results and provide substantial returns to shareholders[37] - The company will continue to closely monitor the situation and operate its business prudently[36] Corporate Governance - The audit committee consists of three independent non-executive directors and has reviewed the financial information, confirming compliance with applicable accounting standards[73] - The board members include executive directors Mr. Cai Benli and Mr. Liang Weitai, as well as independent non-executive directors Mr. Yang Wanzhu, Mr. Lu Zhuofei, and Mr. Wang Haoren[75] - The external auditor's independence and objectivity were reviewed before the audit work commenced, ensuring effective audit procedures[76] - The completeness of the group's financial statements and annual, quarterly, and interim financial reports was monitored prior to submission for board approval[76] Acquisitions and Stock Options - The company announced an acquisition agreement on January 13, 2023, to acquire 100% of Jun Hsuan Engineering Limited for HKD 35 million[71] - The company granted a total of 33,600,000 stock options on April 20, 2022, and 62,400,000 stock options on September 27, 2022, to eligible participants[66]

Financial Performance - For the three months ended September 30, 2022, the group's revenue was HKD 17,534,000, a decrease of 33.5% compared to HKD 26,338,000 for the same period in 2021[53]. - For the six months ended September 30, 2022, the group's revenue was HKD 32,817,000, down 35.5% from HKD 50,854,000 in the same period of 2021[53]. - The group reported a loss before tax of HKD 7,660,000 for the three months ended September 30, 2022, compared to a profit of HKD 2,162,000 for the same period in 2021[53]. - The loss attributable to owners of the company for the six months ended September 30, 2022, was HKD 17,161,000, compared to a profit of HKD 9,352,000 in the same period of 2021[55]. - Basic loss per share for the three months ended September 30, 2022, was HKD (0.80), compared to HKD (0.23) for the same period in 2021[55]. - The group incurred total comprehensive expenses of HKD (7,684,000) for the three months ended September 30, 2022, compared to HKD (2,258,000) for the same period in 2021[55]. - The company reported a net loss of HKD 9,352,000 for the period, compared to a loss of HKD 50,519,000 in the previous year, showing an improvement in performance[61]. - For the six months ended September 30, 2022, the total revenue recorded by the company was approximately HKD 32.8 million, a decrease of 35.6% compared to HKD 50.9 million for the same period last year, primarily due to the severe economic downturn caused by the COVID-19 pandemic[126]. Revenue Breakdown - The total revenue for the six months ended September 30, 2022, was HKD 32,817,000, with contributions from various segments including Chinese cuisine (HKD 10,971,000), Thai cuisine (HKD 7,743,000), and Malaysian cuisine (HKD 11,223,000) [78]. - The revenue from the "麻酸樂╱嫲孫樂" brand was approximately HKD 11.0 million, accounting for 33.5% of total revenue, representing a 12.0% decrease year-on-year[118]. - The "泰巷" brand generated revenue of approximately HKD 7.7 million, which is 23.5% of total revenue, reflecting a significant decrease of 45.8% compared to the previous year[118]. - The "峇峇娘惹" brand reported revenue of approximately HKD 11.2 million, making up 34.1% of total revenue, with a year-on-year decrease of 36.7%[118]. - The "銷售食材" segment recorded revenue of approximately HKD 2.9 million, representing 8.9% of total revenue, down 48.2% from the previous year[119]. Expenses and Costs - Employee costs for the three months ended September 30, 2022, were HKD (7,882,000), down 11.6% from HKD (8,916,000) in the same period of 2021[53]. - Employee costs for the six months ended September 30, 2022, were approximately HKD 14.6 million, a decrease of about 18.0% from HKD 17.8 million in the same period last year, mainly due to tightened cost control[128]. - Other expenses increased by approximately 80.3% to about HKD 12.8 million, primarily due to an increase in share option expenses of HKD 8,329,000[133]. Assets and Liabilities - As of September 30, 2022, the company's non-current assets totaled HKD 24,316,000, down from HKD 31,042,000 as of March 31, 2022, representing a decrease of approximately 21.6%[57]. - Current assets amounted to HKD 63,221,000, a slight decrease from HKD 65,745,000, indicating a reduction of about 3.8%[57]. - Total liabilities decreased from HKD 14,490,000 to HKD 12,331,000, reflecting a reduction of approximately 15%[59]. - The company's total equity as of September 30, 2022, was HKD 33,837,000, down from HKD 42,791,000, indicating a decline of about 20.9%[59]. - The total assets as of September 30, 2022, amounted to HKD 87,537,000, with significant contributions from cash and bank balances (HKD 24,891,000) and inventory [82]. - The total liabilities as of September 30, 2022, were HKD 53,700,000, with major components including trade and other payables and lease liabilities [82]. - The company's inventory decreased from HKD 1,811,000 to HKD 1,310,000, a reduction of about 27.6%[57]. - The group had no outstanding bank borrowings as of September 30, 2022, compared to approximately zero as of March 31, 2022[147]. Operational Changes and Strategies - The company plans to reduce employee costs by minimizing staff usage and negotiate rent discounts with landlords to mitigate financial pressures[116]. - The company aims to expand its takeaway product lines, including packaged food and ready-to-eat products, to enhance sales and marketing efforts[116]. - The company relocated its headquarters, reducing office space from 5,000 square feet to 2,000 square feet, resulting in a 66.7% decrease in rent and annual savings of over HKD 680,000[121]. - The company has implemented a share option scheme to attract and retain talent, granting a total of 33,600,000 options on April 20, 2022, and 62,400,000 options on September 27, 2022, for new ordinary shares at HKD 0.01 each[169][173]. Compliance and Governance - The company has adhered to the GEM Listing Rules and corporate governance codes, ensuring compliance with all applicable provisions as of September 30, 2022[176]. - The audit committee, consisting of three independent non-executive directors, has reviewed the interim financial statements, confirming compliance with applicable accounting standards and sufficient disclosures[179]. - The company has not applied any new accounting standards that have been issued but are not yet effective, and is currently assessing their potential impact [74]. - The company’s management has made significant judgments and estimates in preparing the interim financial statements, consistent with those applied in the annual report [74]. Shareholder Information - As of September 30, 2022, major shareholders hold significant stakes in the company, with MJL having 30.24% owned by Ms. Huang Xueqing and Ms. Zhou Lifeng each, and 18.24% by Ms. Wang Xiuting[163]. - The total number of unexercised share options as of September 30, 2022, is 62,400,000, down from 96,000,000 options granted earlier[109].

Financial Performance - The group's revenue for the three months ended June 30, 2022, was HKD 15,283,000, a decrease of 37.5% compared to HKD 24,516,000 in the same period last year[5]. - The group reported a loss of HKD 9,501,000 for the period, compared to a profit of HKD 11,591,000 in the previous year, indicating a significant decline in performance[5]. - The total comprehensive loss for the period was HKD 9,599,000, compared to a comprehensive income of HKD 11,591,000 in the same period last year[5]. - The basic loss per share was HKD 0.99, compared to earnings of HKD 1.21 per share in the previous year[5]. - The company reported a loss attributable to owners of HKD (9,501,000) for the three months ended June 30, 2022, compared to a profit of HKD 11,595,000 in 2021[30]. - The group recorded a loss attributable to owners of approximately HKD 9.5 million for the three months ended June 30, 2022, compared to a profit of approximately HKD 11.6 million for the same period in 2021, mainly due to decreased revenue from the COVID-19 pandemic and increased share-based payments[52]. Revenue Breakdown - The revenue breakdown includes Chinese cuisine at HKD 5,293,000, Thai cuisine at HKD 4,806,000, and Malaysian cuisine at HKD 1,436,000 for the three months ended June 30, 2022[19]. - Revenue from the "麻酸樂╱嫲孫樂" brand was approximately HKD 5.3 million, accounting for 34.6% of total revenue, with a year-on-year decrease of 11.8%[40]. - Revenue from the "泰巷" brand was approximately HKD 3.8 million, accounting for 24.2% of total revenue, with a year-on-year decrease of 47.2%[40]. - Revenue from the "峇峇娘惹" brand was approximately HKD 4.8 million, accounting for 31.4% of total revenue, with a year-on-year decrease of 44.8%[41]. Cost and Expenses - Employee costs amounted to HKD 6,670,000, down from HKD 8,860,000, reflecting a reduction of 24.5%[5]. - The cost of materials and consumables was approximately HKD 5.9 million, representing 38.6% of total revenue, compared to HKD 8.9 million and 36.3% in the previous year[44]. - Employee costs were approximately HKD 6.7 million, a decrease of 24.7% from HKD 8.9 million in the same period last year[45]. - Depreciation expenses were approximately HKD 3.5 million, accounting for 22.9% of total revenue, down from HKD 4.2 million and 17.1% in the previous year[46]. - Other expenses increased by 151.7% to approximately HKD 7.3 million, primarily due to an increase in share-based payments[50]. Financing and Costs - The group incurred financing costs of HKD 203,000, a decrease from HKD 337,000, showing a reduction of 39.8%[5]. - The financing costs for the three months ended June 30, 2022, were HKD 203,000, a decrease of 39.8% from HKD 337,000 in 2021[23]. - The group's financing costs decreased from approximately HKD 0.3 million for the three months ended June 30, 2021, to approximately HKD 0.2 million for the three months ended June 30, 2022, primarily due to reduced bank borrowing costs[51]. Corporate Governance and Compliance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15, ensuring compliance with all applicable provisions as of June 30, 2022[71]. - The audit committee, established on January 29, 2018, is responsible for reviewing the adequacy of the group's risk management and internal control systems[73]. - The audit committee consists of three independent non-executive directors, ensuring independence and objectivity in the audit process[74]. - The unaudited condensed consolidated financial statements for the three months ended June 30, 2022, have been reviewed by the audit committee, confirming compliance with applicable accounting standards and GEM Listing Rules[74]. Future Outlook - Future performance is highly dependent on the progression of COVID-19 infections and government measures[35]. - The company plans to adopt a conservative approach to operations, including reducing employee usage and negotiating rent discounts[38]. Shareholder Information - The major shareholder MJL holds a 50.0% stake in the company, with significant individual ownership percentages from directors[62]. - The company has adopted strict trading standards for directors, confirming compliance during the reporting period[68]. - The stock option plan aims to attract, retain, and motivate participants for the company's future development and expansion, granting a total of 33,600,000 stock options, representing approximately 3.5% of the existing issued share capital as of the grant date[69]. - As of June 30, 2022, there were 33,600,000 unexercised stock options related to the stock option plan granted on April 20, 2022[69]. Market and Product Development - The company continues to operate primarily in the restaurant and food sales sectors in Hong Kong and pharmaceutical sales in China[10]. - The group 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]. - There were no major investments, acquisitions, or disposals of subsidiaries during the three months ended June 30, 2022[57]. Dividend Information - The company did not recommend any dividend for the three months ended June 30, 2022, consistent with the previous year[29]. - The board did not recommend the payment of any dividends for the three months ended June 30, 2022, consistent with the previous year[53]. Risk Management - The group faced foreign exchange risks primarily from operations in China, with no significant foreign exchange risk mitigation measures currently in place[55]. - As of June 30, 2022, the group had no significant contingent liabilities or capital commitments[56][57].

Financial Performance - For the year ended March 31, 2022, the revenue was approximately HKD 85.6 million, a decrease of HKD 11.8 million compared to HKD 97.4 million in the same period last year[4] - The loss attributable to the owners of the company for the year was approximately HKD 3.3 million, a decrease of HKD 11.9 million compared to a profit of HKD 8.6 million in the same period last year[4] - The loss per share was HKD 0.35, a decrease of HKD 1.34 compared to earnings of HKD 0.99 per share in the same period last year[4] - The company reported a net loss for the year, with total comprehensive loss amounting to HKD 3.4 million compared to a profit of HKD 8.8 million in the previous year[7] - Total revenue for the year ended March 31, 2022, was HKD 85,580,000, a decrease from HKD 97,421,000 in the previous year, representing a decline of approximately 12.1%[28] - The company reported an operating loss before tax of HKD 3,414,000 for the year, compared to a profit of HKD 8,735,000 in the previous year[28] - The company reported a pre-tax loss of HKD 3,336 thousand for 2022, compared to a profit of HKD 8,585 thousand in 2021, representing a turnaround of 138.8%[44] Revenue Breakdown - The revenue breakdown by segment shows Chinese cuisine generated HKD 23,389,000, Thai cuisine HKD 21,684,000, Malaysian cuisine HKD 29,759,000, and ingredient sales HKD 10,748,000[28] - The "Masa" and "Ma Sun" segment generated revenue of approximately HKD 23.4 million, accounting for 27.3% of total revenue, reflecting a 16.4% decrease year-on-year[62] - The "Thai Lane" segment reported revenue of approximately HKD 21.7 million, representing 25.3% of total revenue, with a year-on-year decline of 24.3%[62] - The "Baba Nyonya" segment achieved revenue of approximately HKD 29.8 million, making up 34.8% of total revenue, down 23.7% compared to the previous year[62] - The "Sales of Ingredients" segment saw a significant increase in revenue, reaching approximately HKD 10.7 million, which is a 483.8% growth year-on-year[62] Assets and Liabilities - Non-current assets decreased to HKD 31.0 million from HKD 46.2 million in the previous year[9] - Current assets increased to HKD 58.5 million from HKD 53.9 million in the previous year, with trade and other receivables rising significantly to HKD 24.6 million from HKD 9.2 million[9] - Current liabilities increased to HKD 42.2 million from HKD 35.9 million in the previous year, primarily due to an increase in trade and other payables[9] - Total assets less current liabilities decreased to HKD 47.4 million from HKD 64.2 million in the previous year[9] - The company reported trade payables and accrued expenses of HKD 27.9 million for 2022, compared to HKD 8.4 million in 2021[47] Operational Changes - The company has faced delays in audit procedures due to COVID-19 control measures, impacting the completion of the audit for its subsidiaries in mainland China[5] - The company plans to reduce employee costs by minimizing restaurant staff usage and negotiate rent discounts with landlords[57] - The company has implemented measures to negotiate procurement discounts and longer payment terms with suppliers[57] - The company operates seven restaurants under three self-owned brands in Hong Kong, with six operated directly and one franchised[60] - The company has expanded its business in China by acquiring an automatic medicine vending machine business to provide innovative healthcare services[59] Corporate Governance - The company has adopted the GEM Listing Rules as its corporate governance code and has complied with all applicable provisions as of March 31, 2022[99] - The audit committee has been established to oversee the appointment and remuneration of external auditors and review the company's risk management and internal control policies[101] - The board of directors confirms that there are no misleading or fraudulent elements in the announcement[105] Future Outlook - The company anticipates that its revenue will improve once the COVID-19 pandemic is under control[57] - The company aims to enhance its restaurant business in Hong Kong and expand its automatic vending machine business in China to increase shareholder value[59]

Revenue Performance - Revenue for the three months ended December 31, 2021, was HKD 29,215,000, an increase of 22.5% compared to HKD 23,880,000 for the same period in 2020[5] - Revenue for the nine months ended December 31, 2021, was HKD 80,069,000, up 1.9% from HKD 78,588,000 in the same period of 2020[5] - For the three months ended December 31, 2021, the revenue from Chinese cuisine was HKD 6,167,000, an increase from HKD 5,446,000 in the same period of 2020, representing a growth of 13.2%[20] - The revenue from Thai cuisine for the nine months ended December 31, 2021, was HKD 19,268,000, down 14.4% from HKD 22,452,000 in the same period of 2020[20] - The revenue from Malaysian cuisine decreased to HKD 25,579,000 for the nine months ended December 31, 2021, a decline of 11.2% compared to HKD 28,757,000 in the same period of 2020[20] - The "Masaun Le/Masan Le" brand generated revenue of approximately HKD 18.6 million, accounting for 23.3% of total revenue, representing a decrease of 16.3% year-on-year due to a reduction in the number of restaurants and the negative impact of COVID-19[42] - The "Thai Lane" brand recorded revenue of approximately HKD 19.3 million, accounting for 24.1% of total revenue, with a year-on-year decrease of 14.2% attributed to similar factors[44] - The "Baba Nyonya" brand achieved revenue of approximately HKD 25.6 million, making up 31.9% of total revenue, reflecting an 11.1% decrease compared to the previous year[44] - The "Sales of Pharmaceutical Machines and Related Services" segment, established after the acquisition of Guoxing, generated revenue of approximately HKD 8.2 million, accounting for 10.2% of total revenue, with no prior year comparison available[45] - The "Sales of Ingredients" segment saw a revenue increase of 63.6% to approximately HKD 8.4 million, representing 10.5% of total revenue, driven by sales growth[44] Profit and Loss - The group reported a loss of HKD 1,108,000 for the three months ended December 31, 2021, compared to a profit of HKD 10,365,000 in the same period of 2020[7] - The loss attributable to owners of the company for the nine months ended December 31, 2021, was HKD 8,225,000, compared to a profit of HKD 8,161,000 for the same period in 2020[7] - Basic loss per share for the three months ended December 31, 2021, was HKD (0.12), compared to earnings of HKD 1.14 for the same period in 2020[7] - The group’s total comprehensive loss for the three months ended December 31, 2021, was HKD (1,022,000), compared to total comprehensive income of HKD 10,365,000 for the same period in 2020[5] - For the nine months ended December 31, 2021, the company reported a profit attributable to owners of the company of HKD 8,225,000, compared to HKD 8,161,000 for the same period in 2020, reflecting a slight increase[34] - The company recorded a basic loss per share of HKD (1,128) for the three months ended December 31, 2021, compared to a profit of HKD 10,316,000 for the same period in 2020[34] Costs and Expenses - The cost of materials and consumables used for the three months ended December 31, 2021, was HKD (10,878,000), an increase from HKD (9,438,000) in the same period of 2020[5] - Employee costs for the three months ended December 31, 2021, were HKD (8,264,000), a decrease from HKD (8,727,000) in the same period of 2020[5] - Depreciation for the three months ended December 31, 2021, was HKD (3,787,000), down from HKD (5,398,000) in the same period of 2020[5] - Other income for the nine months ended December 31, 2021, was HKD 480,000, a decrease of 96.4% from HKD 13,385,000 in the same period of 2020[21] - Employee costs for the nine months ended December 31, 2021, were HKD 26,039,000, down 16.5% from HKD 31,017,000 in the same period of 2020[27] - Depreciation expenses decreased to approximately HKD 12.2 million from HKD 19.9 million, mainly due to a reduction in the number of restaurants[50] - Rental expenses increased by approximately 12.2% to HKD 3.1 million, attributed to costs associated with the pharmaceutical machine business[52] Corporate Actions and Governance - The company has not recommended any dividends for the nine months ended December 31, 2021, consistent with the previous year[33] - The company adopted new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial data presented[15] - The company has no significant foreign exchange risk as of December 31, 2021, and does not employ hedging measures[62] - As of December 31, 2021, the company has no outstanding capital commitments[63] - There are no significant contingent liabilities reported as of December 31, 2021[64] - The company completed the sale of a 50% stake in a joint venture primarily engaged in cold storage on August 30, 2021[66] - There were no major investments, acquisitions, or disposals of subsidiaries during the nine months ended December 31, 2021[66] - The company did not purchase, sell, or redeem any of its listed securities during the nine months ended December 31, 2021[67] - Major shareholders include MJL, which holds a 50% stake in the company, with significant individual holdings by directors[71] - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15 and has complied with all applicable provisions during the nine months ended December 31, 2021[80] - The audit committee has reviewed the financial information of the group and believes it complies with applicable accounting standards and GEM Listing Rules, ensuring adequate disclosure[83] Future Outlook and Strategies - The company anticipates that the future performance of its restaurant business will improve once the COVID-19 situation is under control, despite current uncertainties[39] - The company has implemented cost-saving measures, including reducing restaurant staff and negotiating rent discounts with landlords[39] - The company has expanded its business in China by acquiring an automatic vending machine business for HKD 58,000,000, aiming to enhance healthcare service accessibility[41] - The company plans to continue monitoring the performance of its vending machine business and explore opportunities in other major cities in China[37] - The Hong Kong government has announced a relief fund of HKD 3.57 billion to assist businesses affected by tightened social distancing measures, with HKD 1.76 billion specifically for the restaurant industry[36] - The company is focusing on expanding its takeaway product lines and increasing marketing efforts to stimulate sales[39]

Financial Performance - Revenue for the three months ended September 30, 2021, was HKD 26,338,000, a slight increase of 0.5% compared to HKD 26,214,000 in the same period of 2020[23] - Revenue for the six months ended September 30, 2021, was HKD 50,854,000, a decrease of 7.5% from HKD 54,708,000 in the same period of 2020[23] - The group reported a loss before tax of HKD 2,162,000 for the three months ended September 30, 2021, compared to a loss of HKD 1,590,000 in the same period of 2020[23] - The total comprehensive loss for the six months ended September 30, 2021, was HKD 9,333,000, compared to a loss of HKD 2,135,000 in the same period of 2020[23] - The company reported a loss attributable to owners of HKD (2,243) thousand for the three months ended September 30, 2021, compared to a loss of HKD (1,588) thousand in the same period of 2020, indicating an increase in losses[25] - For the six months ended September 30, 2021, the company recorded a profit attributable to owners of HKD 9,352 thousand, a significant recovery from a loss of HKD (2,155) thousand in the prior year[25] Operational Costs - Employee costs for the three months ended September 30, 2021, were HKD 8,916,000, down 18.6% from HKD 10,996,000 in the same period of 2020[23] - Depreciation expenses for the three months ended September 30, 2021, were HKD 4,204,000, a decrease of 39.2% compared to HKD 6,925,000 in the same period of 2020[23] - The company’s employee costs for the six months ended September 30, 2021, were 16,975 thousand HKD, down from 21,285 thousand HKD in the same period of 2020[57] - The cost of raw materials and consumables was approximately HKD 17.9 million for the six months ended September 30, 2021, accounting for about 35.2% of total revenue, compared to HKD 19.1 million and 34.9% for the same period in 2020[111] - Other expenses increased by approximately 46.9% to about HKD 7.1 million for the six months ended September 30, 2021, from approximately HKD 4.8 million for the same period in 2020, mainly due to increased consulting fees and commissions paid to delivery platforms[117] Assets and Liabilities - Non-current assets totaled HKD 89,927 thousand as of September 30, 2021, compared to HKD 46,238 thousand as of March 31, 2021, showing a substantial increase[27] - Current liabilities rose to HKD 44,206 thousand as of September 30, 2021, compared to HKD 35,948 thousand as of March 31, 2021, indicating a rise in obligations[27] - The company’s total assets less current liabilities stood at HKD 116,426 thousand as of September 30, 2021, compared to HKD 64,209 thousand as of March 31, 2021, reflecting improved financial health[27] - The company’s equity attributable to owners increased to HKD 48,128 thousand as of September 30, 2021, from HKD 38,793 thousand as of March 31, 2021, indicating growth in shareholder value[29] - Total liabilities as of September 30, 2021, were HKD 112,552,000, with segment liabilities including Chinese cuisine (HKD 12,705,000), Thai cuisine (HKD 7,651,000), Malaysian cuisine (HKD 14,339,000), and vending machine sales (HKD 15,712,000)[50] Revenue Segmentation - Total revenue for the six months ended September 30, 2021, was HKD 50,854,000, with a breakdown of revenue from different segments: Chinese cuisine (HKD 12,458,000), Thai cuisine (HKD 14,248,000), Malaysian cuisine (HKD 17,682,000), ingredient sales (HKD 5,649,000), and vending machine sales (HKD 817,000)[48] - The company reported a significant increase in revenue from the Malaysian cuisine segment, which generated HKD 17,682,000, compared to HKD 18,649,000 in the previous period, indicating a slight decline of approximately 5%[48] - The "Sales of Food Ingredients" segment generated revenue of approximately HKD 5.6 million, accounting for 11.1% of total revenue, representing an increase of 83.2% compared to the same period last year, driven by sales growth[104] Acquisitions and Investments - The company issued promissory notes amounting to HKD 58,000,000 with a 5% annual interest rate to finance the acquisition of a subsidiary[81] - The acquisition of Guohang Investment Holdings Limited was completed on August 30, 2021, for a total consideration of HKD 58,000,000[81] - The group completed the acquisition of all issued shares of Guoxing on August 30, 2021, which primarily engages in the sale of pharmaceutical machines and related services in China[104] Market and Business Strategy - The company has plans for market expansion and new product development, although specific details were not disclosed in the financial report[35] - The group plans to expand its restaurant business in Hong Kong and the automatic vending machine business in China to enhance shareholder value[98] - The group is adopting a conservative approach to operations, including reducing staff costs and negotiating rent discounts with landlords[96] Compliance and Governance - The board of directors confirmed compliance with the GEM Listing Rules regarding securities trading during the six months ended September 30, 2021[157] - The company has adhered to all applicable provisions of the corporate governance code as outlined in the GEM Listing Rules as of September 30, 2021[160]

Financial Performance - The group's revenue for the three months ended June 30, 2021, was HKD 24,516,000, a decrease of 13.9% compared to HKD 28,494,000 for the same period in 2020[5]. - Other income for the same period was HKD 120, significantly down from HKD 3,165, indicating a decline of 96.2%[5]. - The group reported a profit before tax of HKD 11,591,000, compared to a loss of HKD 543,000 in the previous year, marking a substantial turnaround[5]. - Basic earnings per share for the period was HKD 1.21, compared to a loss per share of HKD 0.07 in the same quarter of 2020[5]. - Total revenue for the group for the three months ended June 30, 2021, was approximately HKD 24.5 million, a decrease of 14.0% from HKD 28.5 million in the same period last year, primarily due to a reduction in the number of restaurants and the severe economic downturn caused by COVID-19[42]. - The group recorded a profit attributable to owners of approximately HKD 11.6 million for the three months ended June 30, 2021, compared to a loss of HKD 0.6 million in the same period last year, mainly due to gains from the sale of a property and subsidiary[51]. Revenue Breakdown - Chinese cuisine revenue was HKD 6,003,000, down 32.5% from HKD 8,900,000 in 2020[18]. - Thai cuisine revenue decreased to HKD 7,104,000, a decline of 16.8% from HKD 8,537,000 in 2020[18]. - Malaysian cuisine revenue was HKD 8,712,000, down 7.4% from HKD 9,406,000 in 2020[18]. - For the three months ended June 30, 2021, the revenue from "麻酸樂╱嫲孫樂" was approximately HKD 6.0 million, accounting for 24.5% of total revenue, representing a decrease of 32.6% compared to the same period last year due to the impact of COVID-19[38]. - "泰巷" generated revenue of approximately HKD 7.1 million, making up 29.0% of total revenue, which is a decrease of 16.8% year-on-year, attributed to a reduction in the number of restaurants and the effects of COVID-19[38]. - "峇峇娘惹" recorded revenue of approximately HKD 8.7 million, contributing 35.5% to total revenue, with a year-on-year decrease of 7.4% due to fewer restaurants and the impact of COVID-19[38]. - The food sales segment, which started a new business selling ingredients to a restaurant group, achieved revenue of approximately HKD 2.7 million, representing 11.0% of total revenue, with a significant increase of 63.4% compared to the previous year due to sales growth[39]. Cost Management - The cost of materials and consumables used was HKD 8,896,000, slightly higher than HKD 8,673,000 in the previous year, reflecting a 2.6% increase[5]. - The cost of materials and consumables was approximately HKD 8.9 million, accounting for 36.3% of total revenue, compared to HKD 8.7 million and 30.4% in the previous year, with the increase attributed to higher food costs related to new menu items[43]. - Employee costs, including depreciation, totaled HKD 13,075,000, down from HKD 18,872,000, showing a decrease of 30.5%[5]. - Employee costs decreased by approximately 21.6% to HKD 8.9 million from HKD 11.3 million in the previous year, mainly due to a reduction in the number of restaurants and tighter cost control[44]. - Depreciation expenses were approximately HKD 4.2 million, accounting for 17.2% of total revenue, down from HKD 7.6 million and 26.6% in the previous year, primarily due to fewer restaurants[46]. Corporate Governance and Compliance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15, ensuring compliance with all applicable provisions as of June 30, 2021[73]. - The audit committee, established on January 29, 2018, has reviewed the unaudited condensed consolidated financial statements for the three months ended June 30, 2021, confirming compliance with applicable accounting standards and GEM Listing Rules[79]. - The company has adopted strict trading codes for directors, ensuring compliance with GEM listing rules[71]. Shareholder and Equity Information - The major shareholder MJL holds a beneficial interest of 56.25% in the company[65]. - The beneficial interests of directors in MJL include 30.24% by Ms. Huang and 18.24% by Ms. Wang[65]. - On June 30, 2021, the company was informed by its controlling shareholder, Marvel Jumbo, about a placement agreement to issue up to 150,000,000 shares at a price not less than HKD 0.12 per share[75]. - On July 8, 2021, 60,000,000 shares were successfully placed at HKD 0.121 per share, representing 6.25% of the company's total issued share capital[75]. - Following the placement, Marvel Jumbo's equity in the company decreased to 480,000,000 shares, representing 50.00% of the total issued share capital[75]. Future Outlook and Strategic Initiatives - The company continues to focus on its core restaurant operations while exploring potential market expansion opportunities[10]. - The company plans to enhance operational efficiency and strengthen cost control measures in response to ongoing challenges[34]. - The company will continue to monitor the COVID-19 situation closely and adjust its business operations accordingly[34]. - A conditional agreement was signed for the acquisition of 100% of the issued share capital of a target company for HKD 60,000,000[35]. - The company has established a share option scheme aimed at attracting, retaining, and motivating outstanding participants for future development and expansion[72]. - As of June 30, 2021, no share options were granted, exercised, expired, or lapsed, and there are no unexercised share options under the scheme[72]. Other Financial Information - The group did not incur any income tax expenses during the period, consistent with the previous year[5]. - No dividends were recommended for the three months ended June 30, 2021[29]. - The net proceeds from the 2020 placement amounted to HKD 8,150,000, with HKD 6,575,000 utilized by June 30, 2021, leaving HKD 1,575,000 unutilized[55]. - The company completed the sale of Access Gear Investment Limited for HKD 21,500,000 on June 30, 2021[59]. - The company also sold a property located at Kwai Chung for HKD 22,000,000, with the transaction completed on May 24, 2021[59]. - As of June 30, 2021, the company had no significant contingent liabilities or capital commitments[58][60]. - The company reported no major investments or acquisitions during the three months ending June 30, 2021[60]. - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the reporting period[62]. - The company does not face significant foreign exchange risks as its major transactions are denominated in HKD[57].

Financial Performance - For the fiscal year ended March 31, 2021, the group's total revenue was approximately HKD 97.4 million, a decrease from HKD 116.4 million in the previous year[13]. - The profit attributable to the owners of the company for the year was approximately HKD 8.6 million, a significant turnaround from a loss of HKD 44.5 million in the previous year, primarily due to government subsidies and cost control measures[13]. - Total revenue for the year was HKD 97,421, down from HKD 116,425, representing a decrease of 16.9%[25]. - The company reported a profit before tax of HKD 8,735, compared to a loss of HKD 44,710 in the previous year[25]. - The total number of customers visiting the restaurants decreased by 767,863 to 1,301,264, a decline of 37.1% compared to the previous year[18]. - Average spending per customer increased from HKD 56.3 to HKD 69.5[18]. - Other income recorded for the year ended March 31, 2021, was approximately HKD 3.5 million, an increase of HKD 13.7 million compared to a loss of HKD 10.2 million for the year ended March 31, 2020[48]. - Employee costs decreased by approximately 22.8% to HKD 42.0 million for the year ended March 31, 2021, from HKD 54.4 million for the year ended March 31, 2020, primarily due to a reduction in the number of restaurants and tighter cost control[49]. - Depreciation expenses decreased to approximately HKD 24.7 million for the year ended March 31, 2021, from HKD 29.3 million for the year ended March 31, 2020, mainly due to a reduction in the number of restaurants[50]. - Rental expenses for the year ended March 31, 2021, were approximately HKD 3.8 million, a decrease of about 15.4% from HKD 4.5 million for the year ended March 31, 2020, primarily due to rent concessions from landlords related to the COVID-19 pandemic[51]. - Other expenses increased by approximately 38.4% to HKD 14.5 million for the year ended March 31, 2021, from HKD 10.5 million for the year ended March 31, 2020, mainly due to increased consultancy fees and commissions paid to delivery platforms[54]. - Financing costs decreased to approximately HKD 2.3 million for the year ended March 31, 2021, from HKD 3.1 million for the year ended March 31, 2020, primarily due to a reduction in lease liabilities[55]. Business Operations - As of March 31, 2021, the company operated nine restaurants under three self-owned brands, with eight operated directly and one by a franchisee[14]. - The company closed four restaurants during the fiscal year, three due to poor performance related to the COVID-19 pandemic and one due to lease expiration[14]. - The number of restaurants as of March 31, 2021, was nine, down from twelve in the previous year[16]. - The company has a central kitchen that supplies ingredients to its restaurants, indicating a focus on operational efficiency[14]. - The company plans to continue monitoring market conditions and adapt its strategies accordingly to enhance performance in the upcoming fiscal year[12]. - The company is actively taking measures to stimulate revenue, including offering various promotions and new dishes[20]. - The group operates primarily in restaurant management, with a focus on expanding its restaurant network[158]. - The group plans to open a new Thai restaurant as part of its business strategy[168]. - The company has initiated a new business segment selling ingredients to restaurant groups, generating approximately HKD 1.8 million in revenue, accounting for 1.9% of total revenue[41]. Government Support and Financial Strategy - The company received government subsidies as part of its financial recovery strategy during the pandemic[13]. - The management is committed to maintaining cost control measures to improve profitability moving forward[13]. - The company aims to improve its business performance and operational results post-pandemic[22]. - The group is facing significant pressure to balance food and service quality with cost control due to high employee and food costs amidst an economic downturn[43]. - The group plans to enhance promotional efforts, including seasonal products, to maintain competitiveness in a challenging market[44]. - The group is negotiating rent reductions with landlords to alleviate financial pressures caused by the ongoing economic uncertainty[43]. Corporate Governance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15 and has complied with all applicable provisions throughout the year ending March 31, 2021[80]. - The board consists of experienced members with appropriate professional qualifications and industry knowledge, ensuring a balanced skill set[81]. - The company has three independent non-executive directors, with two possessing accounting qualifications, reflecting sufficient independence on the board[81]. - The executive directors include the chairperson and CEO, who oversee overall operations and strategic direction[81]. - The company emphasizes transparency, accountability, fairness, and responsibility in its corporate governance practices[80]. - The management team has extensive experience in the food and beverage industry, with key members having over 30 years of relevant experience[76][78]. - The company is actively reviewing and monitoring its corporate governance practices to ensure compliance with the code[80]. - The board composition reflects a commitment to maintaining a balance of skills and experience, with a majority of independent directors[81]. - The company has adopted a board diversity policy to enhance the selection of candidates based on various criteria, including gender, age, cultural background, and professional experience[84]. - Independent non-executive directors play a crucial role in providing strategic advice and ensuring high standards of financial reporting and governance[85]. - The board retains decision-making authority over significant matters, including major transactions and financial reporting, while daily operations are managed by the CEO and senior management[93]. - The company has implemented measures to monitor compliance with non-competition agreements among major shareholders, ensuring no direct or indirect competition with the group's business[90]. - All directors have confirmed compliance with the trading standards and the code of conduct for securities transactions for the year ending March 31, 2021[86]. - The board has reviewed its governance responsibilities and confirmed adherence to the relevant codes and regulations[96]. - The company has maintained a balanced composition of the board with sufficient independent elements, ensuring diverse management experience[84]. - The independent non-executive directors have provided independent opinions and participated in various committees, enhancing governance oversight[85]. - The company has received annual confirmations from major shareholders regarding their compliance with non-competition commitments[89]. - The board has established a framework for corporate governance responsibilities, including the review of policies and compliance with legal regulations[95]. - The board of directors held a total of 8 meetings during the fiscal year ending March 31, 2021, with all directors attending these meetings[115]. - The remuneration committee held 2 meetings during the fiscal year, with all members attending both meetings[125]. - The nomination committee is responsible for reviewing the board's structure, size, and diversity, and for nominating suitable candidates to fill board vacancies[126]. - The company has established three committees: the remuneration committee, the nomination committee, and the audit committee, each with defined powers to oversee different aspects of the company's affairs[118]. - The remuneration committee's main objective is to recommend and determine the remuneration policies for directors and senior management based on individual and company performance[119]. - The board of directors includes both executive and independent non-executive directors, ensuring a balance of power and independence[116]. - The independent non-executive directors are responsible for overseeing related party transactions as per GEM listing rules[115]. - The company encourages continuous professional development for directors to enhance their knowledge and skills[110]. - The nomination committee was established on January 29, 2018, to make recommendations regarding the appointment and succession planning of directors[126]. - The company secretary is responsible for maintaining detailed records of all board and committee meetings[114]. - The audit committee held six meetings during the fiscal year ending March 31, 2021, with all members attending all meetings[136]. Financial Position - As of March 31, 2021, the group's current assets amounted to approximately HKD 53.9 million, a significant increase from HKD 8.9 million as of March 31, 2020[166]. - The group's current liabilities decreased to approximately HKD 35.9 million from HKD 55.1 million in the previous year, resulting in a current ratio of 1.5 times, up from 0.2 times[166]. - The capital debt ratio improved to 38.7% from 95.2% year-on-year, indicating a stronger financial position[166]. - The group had a cash and bank balance of approximately HKD 12.8 million as of March 31, 2021, compared to HKD 3.0 million in the previous year[166]. - The company has approximately HKD 29.2 million in distributable reserves as of March 31, 2021, up from HKD 13.9 million a year earlier[182]. - The board does not recommend the payment of any dividends for the year ended March 31, 2021[161]. Investments and Expansion - The company opened four new Japanese ramen restaurants, with an investment of approximately HKD 10.06 million[174]. - A new mala restaurant was opened in Chai Wan, costing around HKD 4.4 million[174]. - The expansion of central kitchen storage facilities involved an investment of HKD 1.543 million[174]. - The company upgraded its computer systems, with an expenditure of HKD 1.3 million[174]. - Marketing and promotional activities were allocated HKD 1 million for ongoing brand promotion[174]. - The net proceeds from the IPO amounted to approximately HKD 32.6 million, fully utilized by September 30, 2020[174]. - The net proceeds from the 2020 placement were approximately HKD 8.15 million, with HKD 6.515 million already utilized by March 31, 2021[177]. - The company has not disclosed any major investments or capital asset plans beyond those mentioned in the prospectus and annual report[167]. Stock Option Plan - The purpose of the stock option plan is to attract, retain, and motivate outstanding participants for the future development and expansion of the company[188]. - The maximum number of shares available for subscription under the stock option plan shall not exceed 10% of the total issued shares as of the listing date, subject to shareholder approval for any increase[193]. - Each participant may receive a maximum of 1% of the total issued shares in any 12-month period from the stock options granted, including exercised, canceled, and unexercised options[196]. - Any grant of stock options to connected persons must be approved by independent non-executive directors, and if the total number of options exceeds 0.1% of the issued shares, shareholder approval is required[197]. - The company cannot grant stock options after becoming aware of any inside information until it has publicly disclosed that information[199]. - The subscription price for shares under the stock option plan shall not be less than the higher of the closing price on the date of grant or the average closing price over the preceding five trading days[190]. - The total number of stock options granted under the plan, along with any other plans, cannot exceed 30% of the total issued shares at any time[194]. - The board has the discretion to invite various participants, including employees, directors, and consultants, to participate in the stock option plan[189]. - The company must notify participants of the subscription price determined by the board[190]. - The acceptance of the stock option offer is considered valid if the company receives a signed acceptance letter and payment of HKD 1.00 within 28 days from the offer date[192].