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，概不對因本公告全部或任 何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Asia Grocery Distribution Limited 亞 洲 雜 貨 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：8413） 截至二零二三年六月三十日止三個月之第一季度業績公告 亞洲雜貨有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本公司及其 附屬公司截至二零二三年六月三十日止三個月之未經審核合併業績。本公告載列 本公司二零二三年第一季度報告全文，符合香港聯合交易所有限公司GEM證券上 市規則內有關季度業績初步公告附載資料的相關規定。 承董事會命 亞洲雜貨有限公司 主席兼執行董事 黃少文 香港，二零二三年八月七日 於本公告日期，執行董事為黃少文先生（主席）、黃少華先生（行政總裁）及葉錦昌 先生（合規主任），非執行董事為黃俊雄先生，而獨立非執行董事為吳奮基先生、王 兆斌先生及陳愷兒小姐。 ...

Financial Performance - The company's revenue for the year ended March 31, 2023, was approximately HKD 286,244,000, an increase of about 18.6% compared to approximately HKD 241,372,000 for the same period in 2022[31]. - Gross profit increased by approximately 14.5% to about HKD 66,815,000 for the year ended March 31, 2023, while the gross profit margin slightly decreased to 23.3% from 24.2%[36]. - Other income rose significantly from approximately HKD 272,000 to about HKD 4,557,000, mainly due to service fees and government subsidies received[37]. - The cost of sales increased by approximately 19.9% to about HKD 219,429,000, primarily due to increased sales volume[35]. - Sales and distribution expenses accounted for approximately 12.1% of total revenue for the year ended March 31, 2023, compared to 11.9% in the previous year[41]. - The loss attributable to owners increased from approximately HKD 2,137,000 for the year ended March 31, 2022, to approximately HKD 4,408,000 for the year ended March 31, 2023, driven by bad debt write-offs and increased sales commissions[46]. - Trade receivables increased by approximately 7.6% from about HKD 36,907,000 as of March 31, 2022, to approximately HKD 39,695,000 as of March 31, 2023, due to increased sales demand following the reopening of borders with mainland China[49]. - Trade payables rose from approximately HKD 9,524,000 as of March 31, 2022, to approximately HKD 11,989,000 as of March 31, 2023, attributed to increased sales demand and anticipated price hikes for purchased products[50]. - Cash and bank balances increased from approximately HKD 29,797,000 as of March 31, 2022, to approximately HKD 35,533,000 as of March 31, 2023, indicating improved liquidity[53]. Business Operations - The company has been developing its food and beverage distribution business under the original brand "Hung Fat" for over 40 years, providing products from over 300 brands[10]. - The product portfolio includes daily necessities, packaged foods, sauces, dairy products, beverages, and kitchen supplies[27]. - The company aims to continue expanding and developing its business to create better prospects and achieve more favorable returns for shareholders[10]. - The experienced team enables the company to quickly respond to changes in customer preferences and adjust product offerings accordingly[10]. - The company plans to invest more resources in sales and marketing activities to drive the development of new products[28]. - The company experienced a significant increase in customer orders starting from April 2022, following the easing of COVID-19 restrictions[32]. - The company aims to expand and diversify its business to solidify and broaden its customer base, maintaining a competitive advantage in the market[76]. Market Conditions - The company anticipates stable performance in the coming year, supported by the recovery of inbound tourism and private consumption[10]. - The management is optimistic about 2023 being a year of economic recovery for Hong Kong and is closely monitoring market conditions for suitable business opportunities[28]. - The company remains cautiously optimistic about its core business despite economic uncertainties arising from the latest COVID-19 situation and government policy changes[76]. - The board is actively assessing and managing uncertainties, taking necessary measures to navigate challenges while continuing to leverage the current customer base[76]. Capital Expenditures and Investments - Capital expenditures for the year ended March 31, 2023, were approximately HKD 3,460,000, up from about HKD 2,266,000 for the year ended March 31, 2022, primarily for the purchase of delivery vehicles[59]. - The company plans to allocate approximately HKD 12,560,000 to upgrade the ERP system to enhance operational efficiency, with HKD 7,653,000 already spent on consulting services and software/hardware acquisition[71]. - Approximately HKD 5,540,000 is earmarked for sales and marketing activities to attract more customers, with HKD 1,310,000 already spent on advertising and local food exhibitions[72]. - The company has reallocated funds initially intended for new repackaging equipment, approximately HKD 3,500,000, to develop restaurant services and general working capital due to cost-effectiveness considerations[75]. - The company has utilized approximately HKD 3,064,000 for the renovation and startup costs of a new restaurant in Tsim Sha Tsui, although the restaurant was closed in March 2022 due to the pandemic[75]. - The company plans to complete the development of restaurant services by December 31, 2023, with HKD 5,936,000 already allocated for this purpose[68]. Financial Management - The total employee cost for the year ended March 31, 2023, was approximately HKD 27,877,000, an increase from about HKD 21,427,000 for the year ended March 31, 2022, reflecting an increase in workforce from 59 to 76 employees[65]. - The company did not declare or recommend any dividends for the year ended March 31, 2023, consistent with the previous year[47]. - The total interest-bearing borrowings amounted to approximately HKD 19,789,000 as of March 31, 2023, compared to approximately HKD 8,467,000 as of March 31, 2022, reflecting an increase in lease liabilities[57]. - The board has adopted a more cautious approach regarding business expansion and investment plans, leading to delays in the expected timeline for utilizing unutilized net proceeds[68]. - The company allocated approximately HKD 5,211,000 for general working capital to support daily operations and maintain sufficient liquidity against market volatility[76]. Corporate Governance - The company has established a remuneration committee in accordance with GEM listing rules to review compensation policies and related matters for directors and senior management[110]. - The board consists of three executive directors, one non-executive director, and three independent non-executive directors, maintaining a balance of skills and experience[165]. - The company has established mechanisms to ensure independent opinions and suggestions are provided to the board, including annual reviews of these mechanisms[166]. - Independent non-executive directors have confirmed their independence in accordance with GEM Listing Rules, and the board believes they are independent[168]. - The chairman and CEO roles are separated, with the chairman leading major decisions and the CEO focusing on daily management and operations[169]. - The audit committee, composed of three independent non-executive directors, reviewed the audited consolidated financial statements for the year ending March 31, 2023[154]. - The company has adhered to the corporate governance code as per GEM listing rules for the year ending March 31, 2023[159]. Employee and Board Composition - As of March 31, 2023, the company had a total of 76 employees, with a gender composition of approximately 58% male and 42% female[200]. - The board consisted of 6 males and 1 female as of March 31, 2023, representing 85% and 15% respectively[191]. - The remuneration range for the board and senior management members as of March 31, 2023, included 6 individuals earning up to HKD 1,000,000, 1 earning between HKD 1,000,001 and HKD 2,000,000, 1 earning between HKD 2,000,001 and HKD 3,000,000, and 1 earning between HKD 3,000,001 and HKD 4,000,000[198]. - The company ensures continuous professional development for all directors, providing training and updates on GEM listing rules and regulatory requirements[172]. Compliance and Risk Management - The company is committed to complying with applicable environmental laws and minimizing negative impacts on the environment from its operations[82]. - The company faces various risks, including market competition, employee commitment, customer credit risk, and financial investment risks[76]. - The company has confirmed that all commitments under the non-competition agreement have been complied with by major shareholders for the year ending March 31, 2023[131].

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，概不對因本公告全部或任 何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Asia Grocery Distribution Limited 亞 洲 雜 貨 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：8413） 截至二零二三年三月三十一日止年度之全年業績公告 亞洲雜貨有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本公司及其 附屬公司截至二零二三年三月三十一日止年度之全年業績。本公告載列本公司二 零二三年全年報告全文，符合香港聯合交易所有限公司GEM證券上市規則內有關 全年業績初步公告附載資料的相關規定。 承董事會命 亞洲雜貨有限公司 主席兼執行董事 黃少文 香港，二零二三年六月二十六日 於本公告日期，執行董事為黃少文先生（主席）、黃少華先生（行政總裁）及葉錦昌 先生（合規主任），非執行董事為黃俊雄先生，而獨立非執行董事為吳奮基先生、王 兆斌先生及陳愷兒小姐。 ...

Financial Performance - The group recorded revenue of approximately HKD 215,358,000 for the nine months ended December 31, 2022, representing an increase of 13.06% compared to HKD 190,512,000 for the same period in 2021[5] - Profit attributable to owners of the company for the nine months ended December 31, 2022, was approximately HKD 4,568,000, a significant increase from HKD 277,000 for the same period in 2021[5] - The gross profit for the nine months ended December 31, 2022, was HKD 51,726,000, up from HKD 46,046,000 in the previous year, indicating a gross margin improvement[6] - The basic earnings per share for the nine months ended December 31, 2022, was HKD 0.39, compared to HKD 0.02 for the same period in 2021[6] - Total comprehensive income attributable to owners of the company for the nine months ended December 31, 2022, was HKD 4,568,000, compared to HKD 277,000 in the previous year[6] - The total revenue for the nine months ended December 31, 2022, was HKD 215,358,000, representing a 13.1% increase from HKD 190,512,000 in the same period of 2021[16] Expenses and Costs - The sales and distribution expenses for the nine months ended December 31, 2022, increased to HKD 25,211,000 from HKD 21,487,000 in the previous year, reflecting higher operational costs[6] - The total employee costs for the nine months ended December 31, 2022, amounted to HKD 20,438,000, up from HKD 16,305,000 in the same period of 2021, reflecting a 25.9% increase[20] - Administrative expenses increased from approximately HKD 23,381,000 to about HKD 23,793,000, mainly due to higher director remuneration and depreciation of newly leased warehouse assets[38] - The cost of sales for the same period was approximately HKD 163,632,000, representing an increase of about 13.3% from approximately HKD 144,466,000 in the previous year[32] Dividends and Shareholder Returns - The company did not recommend any dividend payment for the nine months ended December 31, 2022, consistent with the previous year[5] - The group did not declare or recommend any dividends for the nine months ended December 31, 2022[22] Government Support and Other Income - The group recognized government subsidies of HKD 1,501,000 for the nine months ended December 31, 2022, which were related to the "Employment Support" scheme[18] - Other income rose significantly from approximately HKD 185,000 to about HKD 3,357,000, primarily due to government subsidies received during the period[34] Financial Position and Ratios - The total equity attributable to owners of the company as of December 31, 2022, was HKD 105,983,000, an increase from HKD 103,829,000 as of December 31, 2021[8] - As of December 31, 2022, the company's cash and bank balances were approximately HKD 31,155,000, up from approximately HKD 29,797,000 as of March 31, 2022[45] - The current ratio as of December 31, 2022, was approximately 4.8 times, indicating strong liquidity compared to 6.8 times as of March 31, 2022[45] - As of December 31, 2022, the company's interest-bearing borrowings amounted to approximately HKD 13,408,000, an increase from HKD 8,467,000 as of March 31, 2022[46] - The company's debt-to-equity ratio as of December 31, 2022, was approximately 12.7%, up from 8.3% as of March 31, 2022[46] Strategic Plans and Investments - The company plans to allocate around HKD 5,540,000 for sales and marketing activities to attract more customers and increase loyalty, with HKD 1,268,000 already utilized for advertising[53] - The company has decided to reallocate funds initially intended for new packaging equipment to develop restaurant services due to current market conditions[55] - The company plans to open two warehouse facilities to accommodate increased inventory, although the leasing process has been delayed due to rising rental prices[51] - The company is taking a more cautious approach to its business expansion and investment plans in light of current economic conditions[49] - The company has allocated an additional HKD 5,211,000 for general working capital to support daily operations and maintain sufficient liquidity against market volatility[56] Corporate Governance and Compliance - The board has confirmed compliance with the securities trading code and has adopted internal control policies regarding insider information disclosure[63] - The company has confirmed compliance with the non-competition agreement established on March 27, 2017, with all commitments adhered to by the controlling shareholders as of December 31, 2022[66] - The company has maintained high standards of corporate governance, adhering to the principles and code provisions outlined in the GEM Listing Rules[68] - The board believes that the company has complied with the corporate governance code as of December 31, 2022[69] Risks and Market Conditions - Key strategic, operational, and financial risks include market competition, employee commitment and satisfaction, warehousing disruptions, customer credit risks, and investment returns[56] - The company remains cautiously optimistic about its core business despite economic uncertainties arising from the latest COVID-19 situation and government policy changes[56] - The board is actively assessing and managing uncertainties, taking necessary measures to navigate challenging times while adhering to pre-IPO strategic commitments[56]

Financial Performance - The company recorded revenue of approximately HKD 137,465,000 for the six months ended September 30, 2022, representing an increase of 12.93% compared to HKD 121,704,000 for the same period in 2021[5] - Profit attributable to owners of the company for the six months ended September 30, 2022, was approximately HKD 3,427,000, a significant increase from HKD 389,000 for the same period in 2021[5] - The gross profit margin improved to approximately 24.87% for the six months ended September 30, 2022, compared to 24.92% for the same period in 2021[7] - The group's revenue for the six months ended September 30, 2022, was HKD 137,465,000, an increase of 12.9% compared to HKD 121,704,000 for the same period in 2021[23] - The group's gross profit increased by approximately 12.7% from about HKD 30,340,000 for the six months ended September 30, 2021, to about HKD 34,204,000 for the six months ended September 30, 2022, with a gross margin maintained at approximately 24.9%[56] Dividends and Equity - The company did not recommend the payment of any interim dividend for the six months ended September 30, 2022, consistent with the previous year[5] - The company’s total equity attributable to owners increased to HKD 104,842,000 as of September 30, 2022, from HKD 101,415,000 as of March 31, 2022[9] - The company did not declare or recommend any dividends for the six months ended September 30, 2022[35] Cash Flow and Assets - The net cash generated from operating activities for the six months ended September 30, 2022, was HKD 4,203,000, compared to a net cash used of HKD 468,000 for the same period in 2021[14] - Total assets as of September 30, 2022, amounted to HKD 119,583,000, an increase from HKD 111,456,000 as of March 31, 2022[9] - The group reported a net decrease in cash and cash equivalents of HKD 789,000 for the six months ended September 30, 2022, compared to a decrease of HKD 3,433,000 for the same period in 2021[14] Employee Costs and Subsidies - Total employee costs for the six months amounted to HKD 13,315,000, reflecting an increase of 24.0% from HKD 10,700,000 in the same period last year[31] - The group recognized government subsidies of HKD 1,372,000 during the six months, which were related to the "Employment Support" scheme and restaurant subsidy program[29] - The group experienced a significant increase in demand for food and beverage products from local restaurants, hotels, and private clubs during the reporting period[53] Expenses and Financing - The company’s financing costs for the six months ended September 30, 2022, were HKD 340,000, compared to HKD 210,000 for the same period in 2021[7] - Selling and distribution expenses accounted for about 11.4% of total revenue for the six months ended September 30, 2022, compared to 11.3% for the same period in 2021, reflecting increased commissions and bonuses for sales personnel[59] - Administrative expenses increased from approximately HKD 15,502,000 to about HKD 16,370,000, primarily due to increased depreciation from newly leased warehouse assets[61] Strategic Plans and Investments - The group plans to allocate approximately HKD 12,560,000 to upgrade the ERP system to enhance operational efficiency, with about HKD 5,272,000 already spent on consulting services and software and hardware acquisition[89][90] - Approximately HKD 5,540,000 is planned for sales and marketing activities to attract more customers, with HKD 1,242,000 already utilized for advertising and participation in local food exhibitions[90] - The group has allocated around HKD 9,000,000 for the development of restaurant services, with HKD 3,064,000 already spent on renovations and startup costs for a new restaurant in Tsim Sha Tsui[92] Corporate Governance and Compliance - The company has maintained high standards of corporate governance, adhering to the principles and code provisions outlined in the GEM Listing Rules[108] - The board believes that the company has complied with the corporate governance code as of September 30, 2022[109] - The company has confirmed compliance with the non-competition agreement established on March 27, 2017, with all commitments adhered to by the controlling shareholders as of September 30, 2022[106] Market Outlook and Risks - The board anticipates that the Hong Kong economy will take time to return to normal and will closely monitor market conditions for suitable business opportunities[52] - The company remains cautiously optimistic about its core business despite economic uncertainties related to the Omicron variant[93] - Key strategic, operational, and financial risks include market competition, employee commitment and satisfaction, warehousing disruptions, customer credit risk, and investment returns[93]

Asia Grocery Distribution Limited 亞洲雜貨有限公司 (於開曼群島註冊成立的有限公司) 股份代號 : 8413 第一季度報告 2022/23 1 亞洲雜貨有限公司 香港聯合交易所有限公司（「聯交所」）GEM之特色 GEM的定位，乃為相比起其他在聯交所上市的公司帶有較高投資風險的中小型公司提供一個上市 的市場。有意投資的人士應了解投資於該等公司的潛在風險，並應經過審慎周詳的考慮後方作出投 資決定。 由於GEM 上市公司普遍為中小型公司，在GEM 買賣的證券可能會較於主板買賣之證券承受較大 的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本季度報告的內容概不負責，對其準確性或完整性亦不發 表任何聲明，並明確表示，概不對因本季度報告全部或任何部份內容而產生或因倚賴該等內容而引 致的任何損失承擔任何責任。 本季度報告乃根據聯交所GEM證券上市規則（「GEM上市規則」）提供有關亞洲雜貨有限公司（「本 公司」）之資料，本公司董事（「董事」）願就本報告之內容共同及個別承擔全部責任。董事在作出一 切合理查詢後確認，據彼等所深知及確信，本報告 ...

Asia Grocery Distribution Limited 亞洲雜貨有限公司 (於開曼群島註冊成立的有限公司) 股份代號 : 8413 ANNUAL REPORT 2022 年報 2022 年 報 香港聯合交易所有限公司（「聯交所」）GEM之特色 GEM的定位，乃為相比起其他在聯交所上市的公司帶有較高投資風險的中小型公司提供一個上市的市場。有 意投資的人士應了解投資於該等公司的潛在風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣之證券承受較大的市場波動風險， 同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告之內容概不負責，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報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。 本報告乃根據聯交所GEM證券上市規則（「GEM上市規則」）提供有關亞洲雜貨有限公司（「本公司」）之資料， 本公司董事（「董事」）願就本報告之內容共同及個別承擔全部責任。董事在作出一切合理查詢後確認，據彼等 所深知及確信，本報告所載之資料於 ...

Asia Grocery Distribution Limited 亞洲雜貨有限公司 (於開曼群島註冊成立的有限公司) 股份代號 : 8413 2021/22 第三季度報告 香港聯合交易所有限公司（「聯交所」）GEM之特色 GEM的定位，乃為相比起其他在聯交所上市的公司帶有較高投資風險的中小型公司提供一個上市 的市場。有意投資的人士應了解投資於該等公司的潛在風險，並應經過審慎周詳的考慮後方作出投 資決定。 由於GEM 上市公司普遍為中小型公司，在GEM 買賣的證券可能會較於主板買賣之證券承受較大 的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整性亦不發表任 何聲明，並明確表示，概不對因本報告全部或任何部份內容而產生或因倚賴該等內容而引致的任何 損失承擔任何責任。 本報告乃根據聯交所GEM證券上市規則（「GEM上市規則」）提供有關亞洲雜貨有限公司（「本公司」） 之資料，本公司董事（「董事」）願就本報告之內容共同及個別承擔全部責任。董事在作出一切合理 查詢後確認，據彼等所深知及確信，本報告所載之資料於各重大方面均屬準確完整 ...

Financial Performance - The company recorded revenue of approximately HKD 121,704,000 for the six months ended September 30, 2021, compared to HKD 104,360,000 for the same period in 2020, representing an increase of 16.5%[6] - The profit attributable to owners of the company for the six months ended September 30, 2021, was approximately HKD 389,000, a decrease of 69.8% from HKD 1,286,000 for the same period in 2020[6] - The gross profit for the six months ended September 30, 2021, was HKD 30,340,000, compared to HKD 22,381,000 for the same period in 2020, indicating a growth of 35.7%[8] - The basic earnings per share for the six months ended September 30, 2021, was HKD 0.03, down from HKD 0.11 for the same period in 2020[8] - The group reported a net profit before tax of HKD 1,343,000 for the three months ended September 30, 2021, compared to HKD 917,000 for the same period in 2020, reflecting a 46.5% increase[34] Cash Flow and Assets - The company reported a net cash outflow from operating activities of HKD 468,000 for the six months ended September 30, 2021, compared to a net cash inflow of HKD 4,574,000 for the same period in 2020[15] - Total assets as of September 30, 2021, were HKD 111,753,000, an increase from HKD 107,447,000 as of March 31, 2021[10] - The company’s cash and cash equivalents at the end of the period were HKD 35,005,000, down from HKD 57,836,000 at the end of the same period in 2020[15] - The company’s total liabilities increased to HKD 20,405,000 as of September 30, 2021, compared to HKD 16,616,000 as of March 31, 2021[10] - Trade receivables as of September 30, 2021, amounted to HKD 38,300,000, slightly up from HKD 38,210,000 as of March 31, 2021[42] Dividends and Shareholder Information - The company did not recommend the payment of any interim dividend for the six months ended September 30, 2021, consistent with the previous year[6] - The company did not declare or recommend any dividends for the six months ended September 30, 2021, and 2020[38] - The total number of issued and fully paid shares remained at 1,162,000,000 as of both March 31, 2021, and September 30, 2021[47] - As of September 30, 2021, the company has a total of 1,162,000,000 issued ordinary shares, with major shareholders holding 51.88% of the shares[120] Operational Costs and Expenses - Total employee costs for the six months ended September 30, 2021, amounted to HKD 10,700,000, an increase of 38.5% from HKD 7,725,000 in the previous year[34] - Interest expenses on lease liabilities for the six months ended September 30, 2021, were HKD 210,000, up 35.5% from HKD 155,000 in 2020[32] - Administrative expenses increased from approximately HKD 11,893,000 to about HKD 15,502,000, mainly due to hiring new staff and increased depreciation of right-of-use assets[61] - Sales cost for the same period was approximately HKD 91,364,000, an increase of about HKD 9,385,000 or approximately 11.4% compared to HKD 81,979,000 for the previous period, attributed to increased sales volume[55] Revenue Breakdown - The group's revenue from food and beverage grocery sales for the six months ended September 30, 2021, was HKD 121,704,000, an increase of 16.5% compared to HKD 104,360,000 for the same period in 2020[25] - The sales revenue from daily necessities and grain products reached HKD 36,505,000 for the six months ended September 30, 2021, up 39.2% from HKD 26,230,000 in the previous year[25] - The revenue from packaged food for the same period was HKD 24,883,000, representing a 38.7% increase compared to HKD 17,922,000 in 2020[25] Strategic Developments - The group opened its first restaurant in Tsim Sha Tsui in April 2021, marking an expansion into the dining service sector[30] - The company has started providing catering services through restaurants, generating approximately 1.4% of total revenue for the six months ended September 30, 2021[51] - The company aims to open about 5 restaurants by December 31, 2022, with the first one already opened in Tsim Sha Tsui in April 2021[117] Future Plans and Investments - The company plans to allocate approximately HKD 12,560,000 to upgrade its ERP system to enhance operational efficiency, with about HKD 4,557,000 already spent on consulting services and software and hardware acquisition[114] - The company plans to invest approximately HKD 3,500,000 in new repackaging equipment to enhance automation and efficiency in the repackaging process[117] - Approximately HKD 9,000,000 has been allocated for the startup and renovation costs of the restaurants, with around HKD 2,231,000 already spent on the Tsim Sha Tsui restaurant[117] Risk Management and Governance - The company remains cautiously optimistic about its core business despite economic uncertainties caused by the COVID-19 pandemic[118] - The main strategic, operational, and financial risks faced by the company include market competition, employee commitment and satisfaction, and customer credit risk[118] - The company is committed to maintaining high standards of corporate governance, adhering to the GEM Listing Rules and corporate governance codes[135] - The audit committee, composed of three independent non-executive directors, reviewed the unaudited consolidated results for the six months ending September 30, 2021, ensuring compliance with applicable accounting standards[139]

Financial Performance - The group recorded revenue of approximately HKD 57,944,000 for the three months ended June 30, 2021, a decrease of 3.6% compared to HKD 61,032,000 for the same period in 2020[4] - The profit attributable to owners of the company for the same period was approximately HKD 192,000, down 84.7% from HKD 1,250,000 in the previous year[4] - Gross profit for the three months ended June 30, 2021, was HKD 14,349,000, representing a gross margin of 24.7%, compared to HKD 11,802,000 and a gross margin of 19.4% for the same period in 2020[6] - The company reported a pre-tax profit of HKD 409,000 for the quarter, significantly lower than HKD 1,433,000 in the prior year[6] - Basic earnings per share for the quarter were HKD 0.02, compared to HKD 0.11 for the same period last year, reflecting a decrease of 81.8%[6] - The pre-tax profit for the three months ended June 30, 2021, was HKD 192,000, down from HKD 1,250,000 in the same period last year[31] - Revenue for the three months ended June 30, 2021, decreased by approximately HKD 3,088,000 or about 5.1% to approximately HKD 57,944,000 compared to HKD 61,032,000 for the same period in 2020, primarily due to a sharp decline in sales of kitchen and hygiene products[35] - Sales of kitchen and hygiene products dropped by approximately HKD 14,695,000 to about HKD 4,167,000 for the three months ended June 30, 2021, compared to HKD 18,862,000 for the same period in 2020[35] - Gross profit increased by approximately 21.6% to about HKD 14,349,000 for the three months ended June 30, 2021, from approximately HKD 11,802,000 for the same period in 2020, despite a decrease in revenue[39] - Gross margin improved to 24.8% for the three months ended June 30, 2021, compared to 19.3% for the same period in 2020[39] Dividends and Equity - The board of directors did not recommend the payment of any dividend for the three months ended June 30, 2021, consistent with the previous year[4] - The group did not declare or recommend any dividends for the three months ended June 30, 2021[29] - Total equity as of June 30, 2021, was HKD 103,744,000, an increase from HKD 103,552,000 at the beginning of the period[8] Revenue Breakdown - Sales revenue from daily necessities and grain products was HKD 17,549,000, up from HKD 13,120,000 in 2020, representing a growth of approximately 33.5%[1] - The revenue from packaged foods was HKD 11,481,000, an increase from HKD 9,179,000 in the previous year, reflecting a growth of about 25.1%[1] - The group generated revenue of HKD 814,000 from restaurant operations, marking the commencement of its restaurant service business[33] Expenses and Costs - The total employee costs amounted to HKD 5,316,000, an increase from HKD 3,786,000 in 2020, indicating a rise of approximately 40.5%[27] - Selling and distribution expenses as a percentage of total revenue increased to approximately 11.5% for the three months ended June 30, 2021, from 8.5% for the same period in 2020[42] - Administrative expenses rose from approximately HKD 6,160,000 to about HKD 7,175,000, primarily due to increased employee costs and director remuneration[44] Cash and Debt Management - As of June 30, 2021, the group had cash and bank balances of approximately HKD 37,936,000, compared to HKD 38,438,000 as of March 31, 2021[50] - The debt-to-equity ratio was approximately 6.6% as of June 30, 2021, down from 7.8% as of March 31, 2021[52] Future Plans and Investments - The company plans to allocate approximately HKD 12,560,000 to upgrade the ERP system to enhance operational efficiency, with about HKD 4,447,000 already spent on consulting services and software and hardware acquisition[57] - Approximately HKD 5,540,000 is earmarked for sales and marketing activities to attract more customers and enhance loyalty, with around HKD 1,159,000 already utilized for advertising and local food exhibitions[58] - The company intends to open about 5 restaurants by December 31, 2022, with the first one already launched in Tsim Sha Tsui in April 2021, allocating approximately HKD 9,000,000 for startup and renovation costs[61] - As of the report date, approximately HKD 2,017,000 has been spent on the renovation and startup of the new restaurant in Tsim Sha Tsui[61] - The company has reallocated unutilized net proceeds of approximately HKD 3,278,000 for general working capital, excluding rental expenses for the Yau Tong property[57] - Approximately HKD 5,211,000 of net proceeds is designated for general working capital to support daily operations, with about HKD 621,000 already utilized[61] Corporate Governance and Compliance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with applicable disclosure requirements[14] - The financial results for the quarter have not been audited by independent auditors but have been reviewed by the company's audit committee[16] - The company confirmed compliance with the GEM Listing Rules regarding securities trading by directors[71] - The company has adopted corporate governance practices in line with GEM Listing Rules to ensure transparency and protect shareholder interests[76] - The audit committee was established in accordance with GEM Listing Rules and consists of three independent non-executive directors[80] - The audit committee reviewed the unaudited consolidated results for the three months ended June 30, 2021, and confirmed compliance with applicable accounting standards and GEM Listing Rules[80] Market Outlook - The group anticipates that the economic recovery in Hong Kong will take time, closely monitoring market conditions for suitable opportunities[34] - The company is actively assessing and managing uncertainties arising from the COVID-19 pandemic while maintaining a reasonable optimism about its core business[61] Shareholder Information - As of June 30, 2021, the total number of issued shares was 1,162,000,000[67] - Mr. Huang Shaowen and Mr. Huang Shaohua each hold 602,800,000 shares, representing approximately 51.88% of the total shares[65] - The company has granted a total of 112,000,000 share options to employees at an exercise price of HKD 0.30 per share[70] - No share options were exercised, lapsed, or cancelled during the three months ended June 30, 2021[70] - There were no purchases, sales, or redemptions of the company's listed securities during the three months ended June 30, 2021[75] - No significant events affecting the group occurred after June 30, 2021, up to the date of the quarterly report[78] - The current executive directors include the chairman and CEO, with independent non-executive directors providing oversight[81]