New Amante Group Limited 新愛德集團有限公司 By Order of the Board of New Amante Group Limited Liu Huijing Chairman of the Board and Chief Executive Officer (incorporated in the Cayman Islands with limited liability) (Stock Code: 8412) （於開曼群島註冊成立之有限公司） （股份代號：8412） NOTIFICATION LETTER 通知信函 Dear Non-Registered Shareholders (Note 1) , New Amante Group Limited (the "Company") Notice of Publication of 2024/25 Interim Report The Company hereby notify you that the English and Chinese versions of 2024/25 Interim Report of th ...

New Amante Group Limited 新愛德集團有限公司 (incorporated in the Cayman Islands with limited liability) (Stock Code: 8412) （於開曼群島註冊成立之有限公司） （股份代號：8412） NOTIFICATION LETTER 通知信函 28 January 2025 Dear Registered Shareholders, New Amante Group Limited (the "Company") Notice of Publication of 2024/25 Interim Report The Company hereby notify you that the English and Chinese versions of 2024/25 Interim Report of the Company (the "Interim Report") are now available in the "Investor Relations" section of the Company's websit ...

Financial Performance - The Group's revenue for the Reporting Period was approximately HK$12,368,000, representing a decrease of approximately 77% compared to the Corresponding Period[16]. - The Group recorded a loss of approximately HK$9,141,000 for the Reporting Period, while there was a profit of approximately HK$463,000 for the Corresponding Period[16]. - The Company reported a total comprehensive loss of HK$9,141,000 for the period, compared to a profit of HK$463,000 in the previous year[28]. - As of November 30, 2024, the company reported a net loss of HK$9,123,000 for the period, compared to a loss of HK$568,000 in the previous period[35]. - The company reported a loss attributable to owners of HK$9,123,000 for the six months ended November 30, 2024, compared to a profit of HK$568,000 in the corresponding period[77]. - A loss before income tax expense of approximately HK$9,141,000 was recorded, compared to a profit of approximately HK$463,000 for the corresponding period[136]. Revenue Breakdown - Revenue for the six months ended November 30, 2024, was HK$12,368,000, a decrease of 77% compared to HK$54,125,000 for the same period in 2023[28]. - Revenue from clubbing and entertainment business was HK$7,302,000, down from HK$31,127,000, reflecting a significant decline in sales[63]. - Event income dropped to HK$4,229,000 from HK$21,279,000, indicating a 80.2% decrease year-over-year[63]. - The revenue from the club and entertainment business decreased by approximately HK$41,757,000, or approximately 77%, from approximately HK$54,125,000 for the corresponding period to approximately HK$12,368,000 for the reporting period[110]. - Revenue from club and entertainment business decreased by approximately HK$41,757,000, or approximately 77%, from approximately HK$54,125,000 to approximately HK$12,368,000 due to the cessation of business by "FAYE" after lease expiration[122]. Assets and Liabilities - Non-current assets decreased from HK$18,169,000 as of May 31, 2024, to HK$11,417,000 as of November 30, 2024[30]. - Current assets decreased from HK$32,304,000 as of May 31, 2024, to HK$26,131,000 as of November 30, 2024[30]. - Total liabilities decreased from HK$47,552,000 as of May 31, 2024, to HK$37,491,000 as of November 30, 2024[30]. - Net current liabilities improved from HK$15,248,000 as of May 31, 2024, to HK$11,360,000 as of November 30, 2024[32]. - The total equity at the end of the reporting period was HK$4,439,000, a decrease from HK$22,020,000 as of November 30, 2023[35]. - The company had net current liabilities of approximately HK$11,360,000 and net liabilities of HK$864,000 as of November 30, 2024[47]. Cash Flow and Financing - Net cash used in operating activities for the six months ended November 30, 2024, was HK$8,465,000, an improvement from HK$9,591,000 in the same period last year[37]. - The company generated HK$9,249,000 from the issuance of ordinary shares through placing, compared to HK$5,878,000 in the previous period[37]. - Cash and cash equivalents at the end of the period were HK$1,716,000, down from HK$2,880,000 as of November 30, 2023[37]. - A loan facility agreement was entered into with a shareholder for HK$30,000,000 to support liquidity needs[47]. - The company raised approximately HK$3,100,000 for loan repayment and the remaining balance for administrative expenses through a subscription agreement[184]. - The net proceeds from the subscription amounted to approximately HK$9,250,000, fully utilized for loan repayment and general working capital[187]. Operational Insights - The Group's financial performance indicates significant challenges in the current market environment[16]. - The Company is focused on addressing the factors contributing to the decline in revenue and losses[16]. - The management is focused on closely monitoring administrative expenses and operating costs to enhance financial stability[52]. - The Group has plans to expand its outlet network by establishing more lounges and restaurants in Hong Kong, facing various operational risks[171]. - The nightclub "Faye" ceased operations on August 4, 2024, due to the expiration of the lease, and the company is seeking suitable venues for expansion[111]. Employee and Administrative Expenses - Employee benefits expenses decreased by approximately HK$5,870,000, or approximately 49%, from approximately HK$11,890,000 to approximately HK$6,020,000[129]. - The Group employed 52 employees as of November 30, 2024, down from 89 employees a year earlier[154]. - Advertising and marketing expenses decreased by approximately HK$4,970,000, or approximately 75%, from approximately HK$6,664,000 to approximately HK$1,694,000 due to reduced expenses from public relations and marketing services[128]. Compliance and Reporting - The report complies with the GEM Listing Rules and aims to provide relevant information about the Company[10]. - The Directors confirm that the information contained in the report is accurate and complete in all material respects[8]. - The Company is committed to transparency and accountability in its financial reporting[10]. - The Group has not recognized any current tax expense for the period, as there were no assessable profits[69]. - The Group did not hold any significant investments during the reporting period[155]. Share Capital and Options - The balance of share capital increased from HK$17,978,000 to HK$20,375,000 during the reporting period[35]. - As of June 1, 2024, there were up to 549,514 options granted but not exercised, with 1,510,486 outstanding options available for grant[190]. - No options were granted, exercised, cancelled, or lapsed during the reporting period[190]. - The company has adopted a Share Option Scheme in accordance with GEM Listing Rules, with details provided in the annual report[189].

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。 新愛德集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）根據聯交所 GEM 證 券上市規則（「GEM 上市規則」）第 17.10 條及香港法例第 571 章證券及期貨條例（「證券 及期貨條例」）第 XIVA 部項下的內幕消息條文作出本公告。 本公司董事（「董事」）會（「董事會」）謹此知會本公司股東（「股東」）及潛在投資者 （「潛在投資者」），根據對本集團截至 2024 年 11 月 30 日止六個月的未經審核綜合管理賬 目（「中期業績」）的初步審閱及現有可得資料，本集團預期於截至 2024 年 11 月 30 日止六 個月錄得不少於 9,000,000 港元的虧損，由截至 2023 年 11 月 30 日止六個月的溢利約 463,000 港元轉盈為虧。該預期轉盈為虧的主要是由於本集團一間娛樂場所因租約到期而於 2024 年 8 月 4 日停止營業所致。 由於本公司仍在審定中期業績，故本 ...

董事會主席兼行政總裁 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。 New Amante Group Limited 新愛德集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8412） 董事會會議通告 新愛德集團有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣布，將於 2025 年 1 月 23 日（星期四）召開董事會會議，藉以（其中包括）考慮及批准本公司及其附屬公司截至 2024 年 11 月 30 日止六個月止的未經審核綜合財務業績及其刊發，以及考慮中期股息的建議 （如有）。 承董事會命 新愛德集團有限公司 劉惠婧 香港，2025 年 1 月 9 日 於本公告日，執行董事為劉惠婧女士；獨立非執行董事為龐振宇先生、陳晓鋒博士及許維雄先生。 本公告乃根據 GEM 上市規則而刊載，旨在提供有關本公司的資料。董事願就本公告的資料共同及個別 地承擔全部責任。董事作出一切合理查詢後，確認就彼等所知及所信，本公告所載資料在各 ...

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。 New Amante Group Limited 新愛德集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8412） 獨立非執行董事之變更 及 董事名單與彼等角色及職能 獨立非執行董事辭任 新愛德集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董事」）會 （「董事會」）謹此宣布蔣喬蔚先生已辭任本公司獨立非執行董事的職務，自 2024 年 11 月 21 日起生效。蔣先生辭任後將不再擔任本公司的提名委員會（「提名委員會」）主席及成員、 本公司的薪酬委員會（「薪酬委員會」）及本公司的審核委員會（「審核委員會」）成員。 蔣先生聲稱其辭職乃由於本公司尚欠其董事袍金。本公司正尋求法律意見以妥善處理其申 索。 除於本公告中所披露外，董事會並無收到蔣先生與董事會有任何分歧的意見，且並無與其辭 任有關的任何事項需提請聯交所及本公司股東（「股東」）垂注。 董事會謹藉此機會對蔣先生於任 ...

Business Performance - The Group faced significant pressure on its business due to a decline in customers' spending power and a surge in northbound consumption in the latter half of 2023[9]. - The overall business environment is expected to become more challenging in the forthcoming year due to uncertainties in Hong Kong's economy and the impact on consumption and tourism[12]. - The Group's revenue for the Reporting Period was approximately HK$89,245,000, representing an increase of approximately 14.4% compared to HK$77,981,000 for the Corresponding Period[16]. - The Group recorded a total comprehensive loss of approximately HK$17,321,000 for the Reporting Period, compared to a profit of approximately HK$5,880,000 for the Corresponding Period[17]. - The increase in operating expenses, including marketing and staff costs, was a significant factor contributing to the loss, outweighing revenue growth[18]. - The revenue generated from the operation of club and entertainment business increased by approximately HK$11,264,000, or approximately 14.4%[28]. - The increase in revenue was primarily due to the relaxation of business hours on a full-year basis during the Reporting Period compared to the Corresponding Period[29]. - The Group's financial performance was impacted by increased property rental and related expenses, including the opening of Wanchai Amante Shop[17]. Operational Changes - A new cigar shop was launched in Wanchai to expand the Group's principal business, alongside two existing lounges: LKF Lounge and Amante House[11]. - The sports-themed bar, Paper Street, ceased operations in March 2024 due to non-renewal of lease[22]. - The nightclub "FAYE" ceased operations on 4 August 2024 due to lease expiration, with the company seeking new venues for its club and restaurant businesses[56]. - The sports-themed bar Paper Street and nightclub Faye closed in March and August 2024, respectively, due to non-renewal of leases, indicating a strategic shift in venue management[66]. Financial Position and Liquidity - As of May 31, 2024, the Group's total cash and bank balances were approximately HK$1,816,000, down from approximately HK$10,589,000 in 2023[40]. - The current ratio decreased to 0.68 from 0.81, primarily due to purchases of property, plant, and equipment for the opening of Wanchai Amante Shop and repayment of lease liabilities[40]. - The Group reported a net loss and significant liabilities primarily due to high administrative expenses, including advertising and marketing costs, and property rental expenses[44]. - The Group entered into a loan facility agreement for HK$30,000,000 for 24 months to support liquidity needs[45]. - An independent third-party lender agreed not to request repayment of outstanding amounts totaling approximately HK$5,652,000 until November 30, 2025[45]. - The management is confident that the Group will have sufficient liquidity to finance operations for the next 18 months, resolving going concern issues[46]. - The rights issue raised approximately HK$12,000,000 (gross proceeds: approximately HK$12,500,000) to support the operation of the new lounge in Lan Kwai Fong[50]. - The placing of new shares raised funds for setting up Amante House and general working capital, with up to 11,985,600 shares placed at HK$0.50 each[50]. Corporate Governance - The company emphasizes high standards of corporate governance, focusing on transparency, independence, accountability, responsibilities, and fairness[80]. - The Board has complied with the CG Code throughout the reporting period, except for the deviation regarding the separation of the roles of Chairman and CEO[81]. - The Board will continue to review its operations to potentially separate the roles of Chairman and CEO in the future to enhance corporate governance independence[82]. - The Board is responsible for formulating strategies, monitoring performance, and managing risks, with three committees assisting in these functions[88]. - The Company believes all INEDs meet the independence guidelines as set out in the GEM Listing Rules[99]. - The Board consists of 4 male directors and 2 female directors, reflecting a commitment to diversity[104]. Employee and Remuneration Policies - The Group employed 149 employees as of May 31, 2024, up from 88 employees in 2023, with a gender ratio of approximately 59.7% male and 40.3% female[64]. - Employee benefit expenses for the Reporting Period amounted to approximately HK$20,809,000, an increase from approximately HK$16,569,000 in 2023, reflecting a growth of about 25.5%[64]. - The Group's remuneration policy aims to attract, retain, and motivate employees through competitive compensation packages, including basic salary and incentive bonuses[106]. - The Group will invest in training, retention, and recruitment programs to enhance staff development and performance evaluation[108]. Environmental, Social, and Governance (ESG) Initiatives - The Board is responsible for the Company's ESG strategy and reporting, ensuring effective management of ESG-related risks[160]. - The ESG Report outlines the Company's commitment to sustainable business operations and compliance with relevant legal standards[161]. - The Group aims to reduce GHG emissions intensity (Scope 1, 2, and 3) by 5% by the year 2028, with the status currently marked as in progress[191]. - The Group's total GHG emissions for the Reporting Period were 152.9 tonnes of CO2e, an increase from 102.2 tonnes in 2023, representing a 49.5% rise[189]. - The Group actively engages with stakeholders to understand their expectations and improve business practices[175]. Risk Management and Internal Controls - The Group's internal control and risk management systems were reviewed and deemed effective and adequate by the Board and Audit Committee[122]. - The internal control review covered material controls, including financial, operational, and compliance controls, and risk management functions[121]. - The improvement of risk management and internal control systems is an ongoing process, with a commitment from the Board to strengthen these areas[124]. - The Audit Committee oversees the internal control system and reports any material issues to the Board[115].

Financial Performance - The Group reported its annual results for the financial year ended May 31, 2024, amidst ongoing challenges in the bars and restaurants sector [9]. - The Group's revenue for the Reporting Period was approximately HK$89,245,000, representing an increase of approximately 14.4% compared to HK$77,981,000 for the Corresponding Period [16]. - The Group recorded a total comprehensive loss of approximately HK$17,321,000 for the Reporting Period, compared to a profit of approximately HK$5,880,000 for the Corresponding Period [17]. - Revenue from the club and entertainment business increased by approximately HK$11,264,000, or approximately 14.4%, from the previous year [22]. - Revenue from club and entertainment operations increased by approximately HK$11,264,000, or approximately 14.4%, from HK$77,981,000 in the Corresponding Period to HK$89,245,000 in the Reporting Period [28]. - The overall economic rebound in Hong Kong was short-lived, with a shift in tourist spending patterns exerting pressure on the Group's business [65]. - The net loss for the Reporting Period was primarily due to high administration expenses, property rental costs, and write-offs of long-aging receivables [127]. - As of May 31, 2024, total cash and bank balances were approximately HK$1,816,000, down from approximately HK$10,589,000 in 2023, with a current ratio of 0.68 compared to 0.81 in 2023 [40]. Operational Challenges - The introduction of new consumption vouchers by the Hong Kong Government in April and July 2023 aimed to stimulate the economy but did not significantly alleviate sector difficulties [9]. - There was a notable surge in northbound consumption in the latter half of 2023, impacting the Group's business due to a general decline in customers' spending power [9]. - The sports-themed bar, Paper Street, ceased operations in March 2024 due to non-renewal of lease [22]. - The nightclub "FAYE" ceased operations on August 4, 2024, due to lease expiration, and the Company is seeking new venues for its business expansion [56]. - The Group plans to expand its outlet network by establishing more lounges and restaurants in Hong Kong, facing risks such as location identification and securing leases [58]. - The Group plans to expand its network by opening more VIP rooms and restaurants in Hong Kong, facing significant risks such as location selection and recruitment challenges [59]. Cost Management - The increase in operating expenses, including marketing and staff costs, was a significant factor in the loss, outweighing revenue growth [17]. - Advertising and marketing expenses increased by approximately HK$4,546,000, or approximately 45.0%, from HK$10,104,000 for the Corresponding Period to HK$14,650,000 for the Reporting Period [34]. - Employee benefits expenses increased by approximately HK$4,240,000, or approximately 25.6%, from HK$16,569,000 for the Corresponding Period to HK$20,809,000 for the Reporting Period [36]. - Total depreciation increased by approximately HK$7,424,000, or approximately 60.1%, from HK$12,350,000 for the Corresponding Period to HK$19,774,000 for the Reporting Period [37]. - Other expenses increased by approximately HK$4,552,000, or approximately 28.9%, from approximately HK$15,771,000 to approximately HK$20,323,000 due to the closure of "Paper Street" and the opening of Wanchai Amante Shop [40]. Liquidity and Financing - The Group entered into a loan facility agreement for HK$30,000,000 for 24 months to support liquidity needs [45]. - An independent third party lender and ex-shareholder agreed not to request repayment of outstanding amounts of approximately HK$3,089,000 and HK$2,563,000 until November 30, 2025 [45]. - The management is confident that the Group will have sufficient liquidity to finance operations for the next 18 months [46]. - As of May 31, 2024, the Group's net current liabilities and net liabilities were approximately HK$15,248,000 and HK$972,000, respectively, indicating material uncertainty about the Group's ability to continue as a going concern [126]. Corporate Governance - The Company has complied with the CG Code throughout the Reporting Period, except for the deviation regarding the separation of the roles of Chairman and CEO, which is currently held by Mr. Wong Chi Yung [81]. - The Board will continue to review its operations and aims to separate the roles of Chairman and CEO when appropriate to enhance corporate governance independence [82]. - The Board emphasizes transparency, independence, accountability, responsibilities, and fairness to protect shareholders' interests and enhance long-term value [80]. - The Company aims to maximize long-term shareholder value while balancing broader stakeholder interests [95]. - The Board comprises 4 male directors and 2 female directors, reflecting a commitment to diversity [104]. Environmental, Social, and Governance (ESG) Initiatives - The Group emphasizes corporate social responsibility as a core value for sustainable development, balancing business needs with environmental stewardship [159]. - The Board oversees the Group's ESG strategy and risk management, ensuring alignment with sustainability initiatives [163]. - No material breaches of environmental laws or regulations were reported during the reporting period, indicating compliance with applicable standards [162]. - The Group conducts annual materiality assessments to understand stakeholder expectations and prioritize ESG issues [164]. - The Group's total GHG emissions for the reporting period were 152.9 tonnes of CO2e, an increase from 102.2 tonnes in the previous year, representing a 49.5% rise [189]. - The Group aims to reduce GHG emissions intensity by 5% by the year 2028 across all scopes [191]. - The Group promotes energy-saving measures, including encouraging employees to switch equipment to energy-saving mode and turning off lights when not in use [199]. Employee Management - The Group employed 149 employees as of May 31, 2024, compared to 88 employees in 2023, reflecting a significant increase in workforce [64]. - The Group will invest in training, retention, and recruitment programs to encourage self-development among staff [108]. - Employee remuneration packages are reviewed annually and are based on individual performance and market compensation [107]. - The Group aims for continuous improvement in managerial staff performance through monitoring and evaluation [108].

Financial Performance - The Group's revenue for the Reporting Period was approximately HK$54,125,000, representing an increase of approximately 105.1% compared to the Corresponding Period[14]. - The Group recorded a profit for the Reporting Period of approximately HK$463,000, while there was a loss of approximately HK$3,649,000 for the Corresponding Period[14]. - The Group's performance reflects strong growth in revenue, indicating effective market strategies[14]. - Revenue for the three months ended November 30, 2023, was HK$32,164,000, representing a 100.5% increase from HK$16,079,000 in the same period of 2022[23]. - For the six months ended November 30, 2023, revenue reached HK$54,125,000, up 104.5% from HK$26,396,000 in the prior year[23]. - Profit before income tax expense for the three months ended November 30, 2023, was HK$2,721,000, compared to a loss of HK$1,353,000 in the same period last year[23]. - The total comprehensive income for the period was HK$568,000, a recovery from a loss of HK$3,704,000 in the previous year[28]. - The profit and total comprehensive income for the Reporting Period was approximately HK$463,000 compared to a loss of approximately HK$3,649,000 for the Corresponding Period[133]. Dividends and Share Capital - The Board did not recommend payment of any dividend for the Reporting Period[14]. - No dividends were paid, declared, or proposed during the reporting period and the corresponding period[63]. - The company's share capital increased to HK$20,375,000 as of November 30, 2023, from HK$17,978,000 as of May 31, 2023[26]. - The authorized share capital of the company as of November 30, 2023, was HK$100,000,000, with 101,877,600 shares issued and fully paid up[176]. - The issued and fully paid shares increased from 89,892,000 to 101,877,600 shares following the placement of 11,985,600 new ordinary shares at a price of HK$0.50 per share[99]. Cash Flow and Assets - The company reported a net cash used in operating activities of HK$9,591,000 for the six months ended 30 November 2023, compared to HK$1,173,000 for the same period in 2022, indicating a significant increase in cash outflow[31]. - The balance of cash and cash equivalents at the end of the period was HK$2,880,000, compared to HK$2,448,000 at the end of the same period in 2022[31]. - The Group's cash and cash equivalents decreased to HK$2,880,000 as of November 30, 2023, from HK$10,589,000 as of May 31, 2023[86]. - Total assets less current liabilities as of November 30, 2023, were HK$21,020,000, an increase from HK$18,211,000 as of May 31, 2023[26]. - Net assets as of November 30, 2023, were HK$16,811,000, up from HK$10,470,000 as of May 31, 2023[26]. Expenses and Liabilities - Employee benefits expenses increased by approximately HK$4,506,000, or approximately 61.0%, from approximately HK$7,384,000 for the Corresponding Period to approximately HK$11,890,000 for the Reporting Period[122]. - Finance costs for the three months ended 30 November 2023 were HK$510,000, compared to HK$67,000 in the same period of 2022, reflecting a substantial increase of 661.2%[56]. - The Group's total trade and other payables increased to HK$28,822,000 as of November 30, 2023, compared to HK$16,659,000 as of May 31, 2023, representing an increase of approximately 73%[90]. - The accumulated loss as of 30 November 2023 was HK$125,940,000, a slight improvement from HK$126,508,000 at the beginning of the period[28]. Operational Overview - The Group's principal activities are focused on club and entertainment business, with all non-current assets located in Hong Kong[48]. - The Group operated 1 night-club, 1 sports-themed bar, and 2 lounges as of August 31, 2023, diversifying its offerings in the entertainment market[103]. - The Group's management has identified its operating segments based on internal financial information reported to executive directors for resource allocation and performance review[47]. - The Group plans to expand its outlet network by establishing more clubs, bars, and restaurants in Hong Kong, facing various operational risks[164]. - The Group's operations are primarily focused on the club and entertainment business in Hong Kong, indicating a strategic focus on this sector[102]. Risks and Future Plans - The Group's management plans to enhance operational efficiency and implement stringent cost control measures to maintain a competitive edge in the market[135]. - The company faces risks related to fluctuations in the commercial real estate market due to leasing all properties for its outlets[168]. - Expansion plans may impose significant pressure on management, operational, and financial resources, affecting overall profitability[169]. - The company will closely monitor the expansion plan's progress to ensure profitability in the expanded network[170]. Share Issues and Capital Management - The company raised HK$5,878,000 through the placing of ordinary shares during the reporting period, slightly up from HK$5,873,000 in the same period last year[31]. - The net proceeds from the Rights Issue amounted to approximately HK$12,000,000, with gross proceeds of approximately HK$12,500,000[183]. - Utilisation of the net proceeds includes HK$4.0 million for renovation and other costs for setting up a lounge, HK$1.8 million for rent payment, and HK$6.2 million for general working capital[184]. - The share premium reduction was implemented to offset the accumulated losses of the Company[192].

Financial Performance - The Group's revenue for the Reporting Period was approximately HK$54,125,000, representing an increase of approximately 105.1% compared to the Corresponding Period[18]. - The Group recorded a profit for the Reporting Period of approximately HK$463,000, while there was a loss of approximately HK$3,649,000 for the Corresponding Period[18]. - Revenue for the three months ended November 30, 2023, was HK$32,164,000, representing a 100.5% increase compared to HK$16,079,000 for the same period in 2022[27]. - For the six months ended November 30, 2023, revenue reached HK$54,125,000, up 104.5% from HK$26,396,000 in the prior year[27]. - The company reported a profit attributable to owners of the Company of HK$3,174,000 for the three months ended November 30, 2023, compared to a loss of HK$1,018,000 in the previous year[27]. - The total comprehensive income for the period was HK$568,000, a recovery from a loss of HK$3,704,000 in the previous year[32]. - For the six months ended 30 November 2023, the profit attributable to owners of the Company was HK$568,000, a significant improvement from a loss of HK$3,704,000 in the same period of 2022[71]. Dividends and Share Capital - The Board did not recommend payment of any dividend for the Reporting Period[18]. - The Group has not paid, declared, or proposed any dividends during the reporting period and the corresponding period[67]. - The authorized share capital of the company as of November 30, 2023, was HK$100,000,000, with 101,877,600 shares issued and fully paid[180]. - The issued and fully paid ordinary shares increased from 89,892,000 to 101,877,600 shares following the placement of 11,985,600 new ordinary shares[103]. Cash Flow and Liquidity - The company reported a net cash used in operating activities of HK$9,591,000 for the six months ended 30 November 2023, compared to HK$1,173,000 for the same period in 2022, indicating a significant increase in cash outflow[35]. - The balance of cash and cash equivalents at the end of the period was HK$2,880,000, a decrease from HK$2,448,000 at the end of the same period in 2022[35]. - As of November 30, 2023, the Group's total cash and bank balances were approximately HK$2,880,000, down from approximately HK$10,589,000 as of May 31, 2023[144]. - The current ratios were approximately 0.88 times and 0.81 times as of November 30, 2023, and May 31, 2023, respectively[144]. Assets and Liabilities - Total assets less current liabilities increased to HK$21,020,000 as of November 30, 2023, from HK$18,211,000 as of May 31, 2023[30]. - Net assets rose to HK$16,811,000 as of November 30, 2023, compared to HK$10,470,000 as of May 31, 2023[30]. - Current liabilities increased to HK$52,613,000 as of November 30, 2023, compared to HK$37,152,000 as of May 31, 2023[28]. - The Group's total trade and other payables increased to HK$28,822,000 as of 30 November 2023, compared to HK$16,659,000 as of 31 May 2023[94]. Operational Highlights - The Group's principal activities are focused on club and entertainment business operations, with all non-current assets located in Hong Kong[52]. - The Group operated 1 night-club, 1 sports-themed bar, and 2 lounges as of 31 August 2023, covering different segments of the entertainment market[107]. - The Group's revenue from club and entertainment operations increased by approximately HK$27,729,000, or approximately 105.1%, from approximately HK$26,396,000 for the corresponding period to approximately HK$54,125,000 for the reporting period[116]. Expenses and Costs - Cost of inventories sold increased by approximately HK$11,612,000, or approximately 190.0%, from approximately HK$6,100,000 for the Corresponding Period to approximately HK$17,712,000 for the Reporting Period[119]. - Employee benefits expenses increased by approximately HK$4,506,000, or approximately 61.0%, from approximately HK$7,384,000 for the Corresponding Period to approximately HK$11,890,000 for the Reporting Period[126]. - Total depreciation increased by approximately HK$3,132,000, or approximately 56.1%, from approximately HK$5,582,000 for the Corresponding Period to approximately HK$8,714,000 for the Reporting Period[130]. Future Plans and Risks - The management plans to allocate dedicated resources to revenue-generating operations to maintain a competitive edge and enhance diversification[138]. - The Group plans to expand its outlet network by establishing more clubs, bars, and restaurants in Hong Kong, facing various operational risks[168]. - The company faces risks related to fluctuations in the commercial real estate market due to leasing all properties for its outlets[172]. - Expansion plans may impose significant pressure on management, operational, and financial resources, affecting overall profitability[169]. Compliance and Governance - The report complies with the GEM Listing Rules and aims to provide relevant information about the Company[10]. - The Directors confirm that the information contained in the report is accurate and complete in all material respects[10]. - The company has not adopted any new HKFRSs that are relevant and issued but not yet effective for the preparation of these financial statements[46].