Financial Performance - The Group recorded revenue of approximately HK$7.7 million for the three months ended June 30, 2023, representing an increase of 30.5% compared to approximately HK$5.9 million for the same period in 2022[16]. - Revenue for the three months ended June 30, 2023, was HK$7,694,000, representing a 30.9% increase from HK$5,877,000 in the same period of 2022[22]. - Revenue for the three months ended June 30, 2023, increased by approximately HK$1.8 million to approximately HK$7.7 million compared to HK$5.9 million for the same period in 2022[76]. - Revenue from catering services through restaurant operations in Hong Kong was HK$6,303,000, up 36.0% from HK$4,634,000 in the previous year[38][48]. - Sales and processing of food generated revenue of HK$1,391,000, an increase of 11.9% compared to HK$1,243,000 in the prior year[38][48]. Profitability - The Group achieved a gross profit of approximately HK$4.6 million for the three months ended June 30, 2023, up from approximately HK$3.2 million for the same period in 2022, indicating a gross profit margin improvement[16]. - Gross profit for the same period was HK$4,555,000, up 41.0% from HK$3,232,000 year-over-year[22]. - The gross profit margin for catering services increased by approximately 4.2% to approximately 68.6% for the three months ended June 30, 2023, from approximately 64.4% in 2022[83]. - Loss attributable to owners of the Company was approximately HK$4.1 million for the three months ended June 30, 2023, a decrease from approximately HK$5.2 million for the same period in 2022, reflecting a reduction in losses[17]. - Basic and diluted loss per share attributable to owners of the Company was approximately HK$0.14 for the three months ended June 30, 2023, down from approximately HK$0.39 for the same period in 2022[17]. Expenses - Employee benefit expenses increased to HK$3,413,000 from HK$2,756,000, marking a 23.8% rise[22]. - Administrative expenses decreased significantly to HK$2,002,000 from HK$4,345,000, a reduction of 53.9%[22]. - Finance costs rose to HK$545,000 from HK$107,000, an increase of 409.3%[22]. - The cost of inventories sold increased to HK$3,139,000 from HK$2,645,000, and employee benefit expenses rose to HK$3,413,000 from HK$2,756,000 year-over-year[56]. Equity and Borrowings - The total equity attributable to owners of the Company as of June 30, 2023, was HK$17,495,000, compared to HK$15,953,000 at the same time last year, reflecting an increase of 9.7%[25]. - Total equity attributable to owners of the Company amounted to approximately HK$18.4 million as of June 30, 2023, compared to HK$3.6 million on March 31, 2023[107]. - The Group's borrowings included lease liabilities of approximately HK$8.5 million as of June 30, 2023, up from HK$7.3 million on March 31, 2023[108]. - The gearing ratio was approximately 67.8% as of June 30, 2023, an improvement attributed to the Rights Issue completed in June 2023, which generated net proceeds of approximately HK$18.9 million[109]. Operations and Future Plans - The company has closed or terminated some operations to cut losses and implemented cost-saving measures, including negotiating rent concessions with landlords[70]. - The company plans to actively seek opportunities for expansion in its catering service business following a rights issue completed on June 14, 2023[72]. - The Group plans to open new restaurants, with an estimated HK$11 million allocated for this purpose, and expects to utilize the funds by December 2023[125]. - The management has identified a new premises in Whampoa to offer hotpot with Japanese food, with a gross floor area of approximately 280 sq. m[122]. Governance and Compliance - The company has complied with the Corporate Governance Code except for the vacancy of the Chief Executive position since November 23, 2020, which has not materially impacted operations[137]. - The Audit Committee was established on January 20, 2017, and is responsible for reviewing financial reports and internal control procedures[148]. - The company confirms compliance with the required standard of dealings regarding directors' securities transactions for the three months ended June 30, 2023[140]. - The report indicates that adequate disclosures have been made regarding the financial performance of the Group[152]. Shareholder Information - The interests of directors in share options include a total of 448,909 share options as of June 30, 2023, with an exercise price of HK$3.954 per option[144]. - No directors or the chief executive have any interests or short positions in shares or debentures that require notification to the company or the Stock Exchange[147]. - The company has not identified any other individuals or entities with 5% or more voting rights in the issued shares as of the report date[133].

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。 CBK Holdings Limited 國 茂 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：8428） 截至二零二三年六月三十日止三個月的 第一季度業績公告 國茂控股有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司及其附屬 公司截至二零二三年六月三十日止三個月的未經審核業績。 本公告列載本公司二零二三年度第一季度報告全文，符合聯交所GEM證券上市規 則（「GEM上市規則」）中有關季度業績初步公告附載資料的相關要求。載有GEM 上市規則規定資料的二零二三年度第一季度報告的印刷版本，將於適當時候以 GEM上市規則所規定方式寄發予本公司股東。 承董事會命 國茂控股有限公司 主席兼執行董事 周翊 香港，二零二三年八月十一日 於本公告日期，董事會成員包括執行董事周翊先生及徐永得先生；以及獨立非執 ...

Financial Performance - The Group's consolidated results for the year ended March 31, 2023, were presented alongside comparative figures for 2022[18]. - Revenue from continuing operations for the year ended March 31, 2023, increased by approximately HK$2.7 million to approximately HK$30.0 million, compared to HK$27.3 million in 2022[42]. - Loss for the year from continuing operations improved to HK$24.975 million in 2023, down from HK$33.141 million in 2022[28]. - The Group's total assets decreased to HK$21.359 million in 2023 from HK$36.733 million in 2022[30]. - The equity attributable to owners of the Company fell to HK$3.596 million in 2023 from HK$22.820 million in 2022[30]. - The cost of inventories sold increased by approximately HK$1.5 million to approximately HK$13.0 million, with the cost as a percentage of revenue rising to 43.2% in 2023 from 42.1% in 2022[43]. - The Group's food processing business generated revenue of HK$5.6 million in 2023, up from HK$2.0 million in 2022[42]. - Revenue for the year ended March 31, 2023, increased by approximately HK$2.7 million to approximately HK$30.0 million, compared to HK$27.3 million in 2022[45]. - Cost of goods sold increased by approximately HK$1.5 million to approximately HK$13.0 million, with the cost as a percentage of revenue rising by approximately 1.1% to 43.2%[46]. - Gross profit increased by approximately HK$1.3 million to approximately HK$17.1 million, while the gross profit margin decreased by approximately 1.1% to 56.8%[47][48]. - Other revenue increased by approximately HK$0.5 million to approximately HK$1.9 million for the year ended March 31, 2023[49]. - Employee benefit expenses decreased by approximately HK$6.3 million to approximately HK$13.1 million, primarily due to one-off payments made in the previous year[50][54]. - Depreciation increased by approximately HK$2.9 million to approximately HK$9.5 million, mainly due to new restaurants and central kitchen operations starting after December 2021[51][55]. - Loss attributable to owners of the Company for the year was approximately HK$22.2 million, a decrease from approximately HK$40.3 million in 2022, mainly due to no loss from discontinued operations recognized in the previous year[61][66]. - Total assets decreased by approximately HK$15.3 million to approximately HK$21.4 million, while total liabilities increased by approximately HK$6.6 million to approximately HK$23.7 million[68][69]. - Equity attributable to owners of the Company decreased by approximately HK$19.2 million to approximately HK$3.6 million, primarily due to losses recognized in the current financial year[70]. Business Strategy and Outlook - The catering industry faced challenges due to stringent dine-in restrictions, leading to a shift towards high takeaway and lower turnover rates[19]. - Management is optimistic about recovering the catering business as Hong Kong reopens its borders and removes anti-epidemic measures[20]. - The Group aims to enhance customer experience by offering more diverse cuisines, although progress has been slow due to limited financial resources[19]. - The management plans to seek potential expansion opportunities with additional resources obtained from a rights issue exercise[20]. - The Group's performance has been persistently below expectations, prompting a focus on restoring profitability[20]. - The operating environment is expected to improve as the economic conditions return to pre-COVID-19 levels[20]. - The strategic direction includes careful consideration to avoid overexpansion in a weak business environment[19]. - The Group has implemented cost-saving measures, including negotiating rent concessions and expanding the take-away product line[36]. - Management plans to actively seek opportunities for expansion in the catering service business following a rights issue completed on June 14, 2023[40]. - The Group is actively seeking opportunities to expand its restaurant services following a successful placement of shares to enhance financial resources[44]. Corporate Governance - The company is committed to maintaining high standards of corporate governance and compliance[114]. - The company has complied with the Corporate Governance Code except for the requirement of having at least three independent non-executive directors on the Board, which was addressed by appointing Ms. Lau Man Kei on February 16, 2023[121]. - The Board consists of two executive directors and three independent non-executive directors, meeting the GEM Listing Rules requirements for independent directors[128]. - The company received annual confirmations of independence from all independent non-executive directors, affirming their compliance with independence guidelines[135]. - The Board Diversity Policy has been adopted, recognizing the importance of diversity in maintaining competitive advantage, with measurable objectives set for its implementation[137]. - The Nomination Committee has reviewed the Board Diversity Policy and confirmed that the Group achieved its diversity objectives for the year ended March 31, 2023[139]. - The company has established various Board Committees to delegate responsibilities for day-to-day operations and business strategies[127]. - The Company has provisions in place for directors to abstain from voting on transactions where they have a material interest[155]. - The Company Secretary is responsible for maintaining minutes of all Board and committee meetings, ensuring transparency and accountability[152]. - The Company ensures that Board papers are sent to Directors at least three days before meetings to facilitate informed decision-making[150]. - The Board will periodically review its structure and make appointments as necessary to ensure effective governance[122]. - The Company held ten Board meetings, one annual general meeting, and two extraordinary meetings during the year ended 31 March 2023[156]. - All Directors confirmed compliance with the continuous professional development requirement, participating in training to enhance their knowledge and skills[145]. Audit and Compliance - The audit committee consists of three INEDs, including Mr. Chong Alex Tin Yam as chairman, to oversee financial reporting and internal controls[161]. - The audit committee's primary responsibilities include monitoring the integrity of financial statements and discussing the internal control system with management[163]. - The audit committee aims to ensure compliance with legal and regulatory requirements through the development and review of corporate governance policies[164]. - The audit committee held six meetings during the year ended March 31, 2023, to review the Group's financial results and discuss corporate governance effectiveness[164]. - The consolidated financial statements for the year ended March 31, 2023, were reviewed by the audit committee, with no disagreements regarding the selection of external auditors[164]. - The audit committee recommended the re-appointment of Mazars CPA Limited as the Company's auditor at the upcoming AGM[164]. - An external professional consultant was engaged to conduct an independent internal control review for the year ended March 31, 2023, which has been completed[194][198]. - The Group believes that good corporate governance practices are essential for maintaining investor confidence and sustainable growth, and has established a highly effective system of internal controls[195]. - The Board confirmed that there are no irregularities, improprieties, fraud, or deficiencies indicating material deficiencies in the effectiveness of the Group's internal control system[196]. - The Directors are responsible for preparing the consolidated financial statements in accordance with the Hong Kong Companies Ordinance, ensuring a true and fair view of the Group's state of affairs[199]. - Appropriate and consistent accounting policies were adopted by the Directors in preparing the consolidated financial statements for the year ended 31 March 2023[200].

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倚賴該等內容而引致的任何損失承擔任何責任。 CBK Holdings Limited 國 茂 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：8428） 截至二零二三年三月三十一日止年度的 全年業績公告 國茂控股有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司及其附屬 公司截至二零二三年三月三十一日止年度的經審核全年業績（「二零二三年年報」）。 本公告列載二零二三年年報全文，符合聯交所GEM證券上市規則（「GEM上市規 則」）中有關全年業績初步公告附載資料的相關要求。載有二零二三年年報的印刷 版本，將於適當時候寄發予本公司股東並於聯交所網站www.hkexnews.hk及本公司 網站www.cbk.com.hk可供閱覽。 承董事會命 國茂控股有限公司 主席兼執行董事 周翊 香港，二零二三年六月二十九日 於本公告日期，執行董事為周翊先生及徐永得先生；以及獨立非執行董事為陳鈞 ...

Financial Performance - The Group recorded revenue from continuing operations of approximately HK$21.1 million for the nine months ended 31 December 2022, a slight decrease from approximately HK$21.3 million for the same period in 2021[15]. - Gross profit from continuing operations was approximately HK$12.0 million for the nine months ended 31 December 2022, down from approximately HK$12.7 million in the previous year[15]. - Loss attributable to owners of the Company was approximately HK$15.6 million for the nine months ended 31 December 2022, significantly improved from a loss of approximately HK$26.8 million for the same period in 2021[16]. - Basic and diluted loss per share attributable to owners of the Company was approximately HK$1.05 for the nine months ended 31 December 2022, compared to approximately HK$3.41 for the same period in 2021[16]. - Total comprehensive loss for the nine months ended December 31, 2022, was HK$16,812,000, compared to a total comprehensive loss of HK$27,140,000 in the previous year[22]. - The loss attributable to the owner of the Company for the nine months ended 31 December 2022 was HK$15,563,000, compared to HK$14,674,000 for the same period in 2021[74]. Revenue Breakdown - Revenue for the three months ended December 31, 2022, was HK$8,164,000, an increase of 16.8% compared to HK$6,993,000 for the same period in 2021[20]. - Revenue from catering services in Hong Kong for the nine months ended December 31, 2022, was HK$17,366,000, down from HK$21,283,000 in the previous year, indicating a decline of 18.4%[38]. - The Group's segment revenue from catering services was HK$17.366 million, while sales and processing of food generated HK$3.773 million, totaling HK$21.139 million[49]. - Revenue from one customer in the sales and processing of food segment accounted for approximately HK$3.8 million of the Group's total revenue[44]. Cost and Expenses - Employee benefit expenses decreased to HK$9,181,000 for the nine months ended December 31, 2022, down from HK$13,734,000 in 2021, reflecting a reduction of 33.4%[20]. - Depreciation expenses increased to HK$6,613,000 for the nine months ended December 31, 2022, compared to HK$3,192,000 in the previous year, marking an increase of 106.5%[20]. - The cost of inventories sold for the nine months ended December 31, 2022 was HK$9,111,000, an increase of 5.8% from HK$8,610,000 in 2021[58]. - Administrative expenses increased by approximately HK$4.1 million to approximately HK$11.9 million for the nine months ended December 31, 2022, mainly due to expenses related to two new restaurants and Central Kitchen operations[113]. Operational Changes - The Group has commenced the business of sales and processing of food, which was previously classified as a discontinued operation[41]. - The Group's management has begun selling and processing food and has acquired a frozen aquatic products business in China, which has been classified as discontinued operations[42]. - The Group's management does not regularly review segment assets and liabilities for resource allocation and performance assessment[43]. Equity and Financing - As of December 31, 2022, the total equity attributable to owners of the Company was HK$5,734,000, a decrease from HK$33,519,000 as of December 31, 2021[26]. - The Company raised HK$36,720,000 from a rights issue, which contributed to the capital structure during the reporting period[26]. - As of December 31, 2022, the Group's borrowings included lease liabilities of approximately HK$8.8 million and bonds of approximately HK$1.5 million, resulting in a gearing ratio of approximately 179.2%[127]. - The increase in the gearing ratio from 45.5% as of March 31, 2022, was mainly due to the recognition of bonds and a decrease in the equity base from losses recognized during the period[132]. Governance and Compliance - The company has complied with the Corporate Governance Code except for the vacancy of the Chief Executive position since November 23, 2020, which has not materially impacted operations[154]. - The Audit Committee was established on January 20, 2017, to review financial reports and supervise the financial reporting process and internal control procedures[170]. - The company confirms that all Directors have complied with the required standard of dealings regarding securities transactions for the nine months ended December 31, 2022[159]. Future Outlook - The management expects that the loosening of social distancing restrictions may boost consumer sentiment, although uncertainties regarding the COVID-19 pandemic remain[88]. - The Group has implemented cost-saving measures, including negotiating rent concessions and expanding the take-away product line to mitigate adverse impacts from the COVID-19 pandemic[87].

Financial Performance - CBK Holdings Limited reported a significant increase in revenue, achieving a total of HKD 150 million for the interim period, representing a 25% growth compared to the previous year[20]. - For the six months ended September 30, 2022, the company reported a revenue of HK$12,974,000, a decrease of 9.1% compared to HK$14,291,000 in the same period of 2021[21]. - Revenue from continuing operations for the six months ended September 30, 2022 was HK$12,974,000, a decrease of 10.0% compared to HK$14,291,000 for the same period in 2021[54]. - The segment revenue from catering services through restaurant operations in Hong Kong was HK$10,256,000 for the six months ended September 30, 2022, down 28.5% from HK$14,291,000 in 2021[69]. - The total comprehensive loss attributable to owners of the company for the period was HK$11,780,000, compared to HK$21,966,000 in the same period of 2021[24]. - The company reported a loss before tax from continuing operations of HK$12,939,000, compared to a loss of HK$7,276,000 in the previous year, indicating a significant increase in losses[21]. - For the six months ended September 30, 2022, the loss attributable to owners of the Company for continuing operations was HK$11,780,000, compared to HK$7,237,000 for the same period in 2021[101]. User and Market Expansion - The company’s user base expanded to 1.2 million active users, marking a 15% increase year-over-year[20]. - Future outlook indicates a projected revenue growth of 30% for the next fiscal year, driven by new product launches and market expansion strategies[20]. - The company plans to enter two new markets in Southeast Asia by the end of the fiscal year, aiming to capture an additional 10% market share[20]. - CBK Holdings Limited is exploring potential acquisition opportunities to bolster its market position and diversify its product portfolio[20]. Cost Management and Efficiency - The gross profit margin improved to 40%, up from 35% in the previous period, reflecting better cost management and pricing strategies[20]. - Operating expenses were reduced by 10% through efficiency improvements and cost-cutting measures[20]. - Employee benefit expenses for the six months ended September 30, 2022, totaled HK$5,716,000, a decrease of 30.5% from HK$8,264,000 in the same period of 2021[84]. - Administrative expenses increased by approximately HK$5.3 million to approximately HK$9.7 million, mainly due to expenses related to two new restaurants and Central Kitchen operations[165]. Liquidity and Financial Position - The company reported a net cash used in financing activities of HK$2,480,000 for the six months ended September 30, 2022, a significant decrease from HK$36,799,000 in the previous year[42]. - Cash and cash equivalents decreased to HK$1,558,000 from HK$5,723,000 as of March 31, 2022, indicating a liquidity challenge[29]. - Current assets amounted to approximately HK$10.5 million, a decrease from approximately HK$18.2 million as of March 31, 2022, with cash and bank balances at approximately HK$1.6 million[172]. - Current liabilities increased to approximately HK$16.2 million as of September 30, 2022, compared to approximately HK$13.0 million as of March 31, 2022[172]. - The Group's current ratio and quick ratio were 0.65 and 0.62 respectively as of September 30, 2022, down from 1.4 for both ratios as of March 31, 2022[176]. Strategic Initiatives and Partnerships - The company has established strategic partnerships with key industry players to enhance distribution channels and increase market reach[20]. - The Group's food and beverage business expanded with the opening of a modern Japanese izakaya "Shio" in Central Hong Kong in January 2022 and a Korean BBQ restaurant "San Po Kong Restaurant" planned for December 2021[132]. - The management implemented cost-saving measures, including negotiating rent concessions and expanding the take-away product line to mitigate the pandemic's impact[137]. Sustainability and Corporate Responsibility - CBK Holdings Limited is committed to sustainability initiatives, with plans to reduce carbon emissions by 25% over the next five years[20]. Share Capital and Equity - The share capital decreased to HK$156,000 from HK$3,888,000 as of March 31, 2022, reflecting a significant reduction in equity[31]. - The total equity as of 30 September 2022 was HK$9,731,000, compared to HK$33,536,000 as of 30 September 2021, indicating a decline in overall equity[38]. - The Group's share capital was affected by a share consolidation on July 20, 2022, where every 30 shares were consolidated into 1 share, and a capital reduction was executed to offset accumulated losses[15]. COVID-19 Impact - The Group's results were adversely impacted by social distancing restrictions during the fifth wave of the COVID-19 pandemic in Hong Kong[136]. - Management is actively monitoring the COVID-19 situation and industry developments to revitalize business operations[139].

Financial Performance - CBK Holdings Limited reported financial highlights for the first quarter of 2022, with unaudited revenue of HKD 10 million, representing a 20% increase compared to the previous quarter[19]. - The Group recorded revenue from continuing operations of approximately HK$5.9 million for the three months ended 30 June 2022, a decrease of 18.1% compared to approximately HK$7.2 million for the same period in 2021[21]. - Gross profit from continuing operations was approximately HK$3.2 million for the three months ended 30 June 2022, down 28.0% from approximately HK$4.5 million in the prior year[21]. - Loss attributable to owners of the Company was approximately HK$5.2 million for the three months ended 30 June 2022, compared to a loss of approximately HK$1.6 million for the same period in 2021, representing an increase in loss of 225%[21]. - Loss before tax from continuing operations was approximately HK$5.6 million for the three months ended 30 June 2022, compared to a loss of approximately HK$2.8 million for the same period in 2021[24]. - Total comprehensive loss for the period attributable to owners of the Company was approximately HK$5.1 million for the three months ended 30 June 2022, compared to a comprehensive loss of approximately HK$1.6 million for the same period in 2021[26]. - Revenue from catering services through restaurant operations was HK$4,634,000 for the three months ended June 30, 2022, down from HK$7,210,000 in the previous year, representing a decline of 35.5%[42]. - The segment loss for the same period was HK$2,178,000, compared to a profit of HK$335,000 in the prior year, indicating a significant downturn in performance[54]. - Revenue for the three months ended June 30, 2022, decreased by approximately HK$1.3 million to approximately HK$5.9 million compared to HK$7.2 million for the same period in 2021[104]. - Revenue from catering service decreased by approximately HK$2.6 million to HK$4.6 million, down from approximately HK$7.2 million in the same period last year[104]. Operational Developments - Management discussed plans for market expansion, focusing on increasing their presence in the Asia-Pacific region[19]. - The company is investing in new product development, aiming to launch two innovative products by the end of Q3 2022[19]. - User data indicated a 15% growth in active users compared to the previous quarter, reaching a total of 50,000 active users[19]. - Future outlook remains positive, with management guiding for a revenue growth of 25% for the next quarter[19]. - The company is exploring potential mergers and acquisitions to enhance its market position and product offerings[19]. - The Group has commenced the business of sales and processing of food and acquired a business in the PRC for manufacturing and sales of frozen aquatic products, which has been reclassified as a discontinued operation[47]. - The Group closed one restaurant in March 2022 to cut losses due to the impact of COVID-19 on the catering industry[100]. - The San Po Kong restaurant is expected to open by the end of August 2022, following a delay in the rental period[100]. - As of June 30, 2022, the Group operated one Korean restaurant and a Central Kitchen for food processing[100]. Governance and Compliance - CBK Holdings Limited emphasized the importance of compliance and governance in its operations, ensuring adherence to GEM Listing Rules[5]. - The Company has complied with the Corporate Governance Code except for the vacancy of the chief executive position since November 23, 2020[157]. - The Audit Committee was established on January 20, 2017, to review the Company's financial reports and supervise internal control procedures[167]. - The Audit Committee consists of three independent non-executive Directors, with Mr. Chong Alex Tin Yam as the chairman[168]. - The Audit Committee reviewed the unaudited consolidated financial statements for the three months ended 30 June 2022, confirming compliance with applicable accounting standards and GEM Listing Rules[169]. - The financial results for the period ended 30 June 2022 were deemed to have adequate disclosures and compliance with legal requirements[170]. Shareholder Information - The Board does not recommend the payment of any dividend for the three months ended June 30, 2022[21]. - The weighted average number of ordinary shares for the purpose of calculating basic and diluted loss per share was 400,761,000[96]. - The Company has not purchased, sold, or redeemed any listed securities from the Listing Date up to three months ended June 30, 2022[153]. - The Company has refreshed the share option scheme approved by shareholders on May 27, 2022[162]. - No share options lapsed or were granted, exercised, or cancelled under the refreshed share option scheme during the three months ended June 30, 2022[165]. - As of the report date, the Directors are not aware of any individuals or entities holding 5% or more of the issued voting shares of the Company[148]. - No substantial shareholder interests or short positions were disclosed under the provisions of the SFO as of the report date[149]. Financial Position - As of June 30, 2022, the total equity attributable to owners was approximately HK$20.6 million, down from HK$22.8 million as of 31 March 2022[131]. - The Group's borrowings as at 30 June 2022 comprised only lease liabilities of approximately HK$8.1 million, down from HK$8.9 million as at 31 March 2022[128]. - The Group's gearing ratio increased to approximately 47.5% as of 30 June 2022, up from 45.5% on 31 March 2022, primarily due to a loss recognized in the previous financial year that reduced the equity base[129][131]. - The loss for the period included other comprehensive income of HK$5,193,000, primarily due to foreign exchange differences from overseas operations[33]. - Government and other subsidies received amounted to HK$660,000, an increase from HK$450,000 in the previous year, representing a growth of 47%[67]. - The cost of inventories sold was HK$2,645,000, slightly down from HK$2,726,000 in the previous year, reflecting a 3% decrease[74]. - Depreciation of property, plant, and equipment increased to HK$1,076,000 from HK$154,000, marking a substantial rise of over 600%[74]. - Administrative expenses increased to approximately HK$4.3 million for the three months ended 30 June 2022, compared to approximately HK$3.1 million for the same period in 2021, mainly due to expenses related to new restaurant operations[120].

Company Overview - CBK Holdings Limited is incorporated in the Cayman Islands and listed on the GEM of the Hong Kong Stock Exchange[1]. - The company acknowledges the higher investment risks associated with small and mid-sized companies listed on GEM[2]. - There is a risk of high market volatility for securities traded on GEM compared to those on the Main Board[3]. Financial Performance - Revenue from continuing operations for 2022 was HK$27,302,000, an increase from HK$12,634,000 in 2021[45]. - Loss for the year attributable to owners of the Company was HK$40,299,000 in 2022, compared to a loss of HK$9,940,000 in 2021[45]. - Total assets decreased to HK$36,733,000 in 2022 from HK$37,284,000 in 2021[45]. - The Group's net current assets decreased to HK$5,214,000 in 2022 from HK$14,287,000 in 2021[45]. - The Group's total equity attributable to owners decreased to HK$22,820,000 in 2022 from HK$24,375,000 in 2021[45]. - Total liabilities increased by approximately HK$6.0 million to approximately HK$17.1 million as of 31 March 2022, compared to approximately HK$11.1 million in 2021[65]. - Equity attributable to owners of the Company decreased by approximately HK$1.6 million to approximately HK$22.8 million as of 31 March 2022, down from approximately HK$24.4 million in 2021[65]. Operational Changes - The Group experienced a one-off loss of approximately RMB 18.0 million (equivalent to approximately HK$ 22.0 million) due to stock deterioration caused by a power supply failure at its cold storage facility[20]. - The Group recognized an impairment loss of approximately HK$14.7 million and HK$6.4 million against property, plant and equipment and right-of-use assets, respectively[20]. - The fifth wave of COVID-19 significantly impacted the Group's financial performance, leading to the closure of the "Fun Fun Fun" restaurant in March 2022[49]. - The Group opened a food processing factory ("Central Kitchen") in December 2021 to support its restaurants and expand food supply to external customers[26]. - The Group plans to expand the take-away product line and diversify marketing strategies to improve overall business performance[35]. Management and Governance - The directors of CBK Holdings Limited confirm the accuracy and completeness of the information in the report[5]. - The report includes financial highlights and management discussion and analysis sections[9]. - The auditors for the company are Mazars CPA Limited, indicating a commitment to compliance and governance[13]. - The Company has complied with the Corporate Governance Code provisions for the year ended March 31, 2022, except for the vacancy of the Chief Executive position since November 23, 2020, which has not materially impacted operations[114]. - The Board consists of four executive directors and three independent non-executive directors, meeting the GEM Listing Rules requirements[121]. Board and Committees - The Board has established various committees to delegate responsibilities and enhance operational efficiency[116]. - The audit committee is responsible for monitoring the integrity of financial statements and reviewing significant financial reporting judgments[149]. - The remuneration committee consists of four members, including the chairman of the Board and three independent non-executive directors[156]. - The nomination committee is responsible for formulating nomination policies and making recommendations on the appointment or re-appointment of directors[170]. - The legal compliance committee was established to oversee compliance with laws and regulations relevant to the company's operations[177]. Future Outlook - The management anticipates a resumption to normal life and optimistic consumer sentiments for the second half of 2022, driven by a growing vaccination rate and new consumption vouchers[29]. - The Group believes it will weather the storm of uncertainties in 2022 and achieve further growth, creating value for shareholders[28]. - The Group's vaccination rate in Hong Kong is increasing, which is expected to catalyze a rapid recovery in the local consumption market[31]. Shareholder Matters - The Company raised approximately HK$34.51 million from the rights issue by issuing 215,999,995 Rights Shares at HK$0.17 per share[68]. - The Board does not recommend the payment of a final dividend for the year ended 31 March 2022[74]. - The proposed share consolidation involves consolidating every thirty (30) existing shares of par value HK$0.01 into one (1) consolidated share of par value HK$0.30[70]. Compliance and Risk Management - The Group's internal control and risk management systems are designed to manage risks rather than eliminate them, providing reasonable assurance against material misstatement or loss[191]. - The Directors confirmed that appropriate and consistent accounting policies were adopted in preparing the consolidated financial statements for the year ended 31 March 2022[199]. - The Company aims to ensure compliance with the Corporate Governance Code and improve governance practices continuously[115].

Financial Performance - CBK Holdings Limited reported a significant increase in revenue for the third quarter, achieving a total of HKD 50 million, representing a 25% growth compared to the previous quarter[19]. - The Group recorded revenue of approximately HK$21.3 million for the nine months ended 31 December 2021, a significant increase of 176.6% compared to approximately HK$7.7 million for the same period in 2020[24]. - Gross profit for the nine months ended 31 December 2021 was approximately HK$12.7 million, up from approximately HK$3.0 million in the corresponding period of 2020, representing a growth of 323.3%[24]. - Total revenue for the nine months ended December 31, 2021, was HK$236,666,000, with a loss for the period amounting to HK$27,127,000, compared to a loss of HK$4,563,000 for the same period in 2020[51]. - The Group reported a loss attributable to owners of approximately HK$26.8 million for the nine months ended December 31, 2021, compared to a loss of approximately HK$4.2 million for the same period in 2020[119]. User Engagement and Market Expansion - The company noted a rise in user engagement, with active users increasing by 15% to reach 200,000 during the quarter[19]. - CBK Holdings Limited is exploring market expansion opportunities in Southeast Asia, targeting a 10% market share within the next two years[19]. - A new Korean BBQ and hotpot restaurant is set to open in the second quarter of 2022, expanding the Group's market presence[97]. Operational Efficiency and Cost Management - CBK Holdings Limited has implemented new strategies to improve operational efficiency, which are projected to reduce costs by 15% over the next year[19]. - The company reported a net profit margin of 10% for the quarter, reflecting improved cost management and operational performance[19]. - The Group's central administrative costs and finance costs for the nine months ended December 31, 2021, were HK$13,177,000, contributing to the overall loss[51]. Financial Guidance and Projections - For the upcoming quarter, CBK Holdings Limited provided a revenue guidance of HKD 60 million, indicating an expected growth of 20%[19]. - The total comprehensive loss for the period attributable to owners of the Company was approximately HK$26.8 million for the nine months ended December 31, 2021[32]. Investment and Development - The company is actively investing in new product development, with a budget allocation of HKD 5 million for research and innovation initiatives[19]. - The Group plans to allocate approximately HK$16.7 million from the Rights Issue proceeds to develop a Japanese restaurant in Central, Hong Kong, and approximately HK$2.0 million for general working capital[146][148]. Compliance and Governance - The company emphasized its commitment to compliance and governance, ensuring adherence to all regulatory requirements[19]. - The Company has complied with the Corporate Governance Code provisions except for the vacancy of the Chief Executive position since November 23, 2020, which has not materially impacted operations[175]. Financial Position and Assets - CBK Holdings Limited's total assets increased to HKD 200 million, marking a 30% rise from the previous quarter[19]. - As of December 31, 2021, the unaudited total assets were HK$73,454,000, compared to HK$60,549,000 as of April 1, 2021, reflecting an increase of approximately 21%[38]. - The Group's cash and cash equivalents at the end of the reporting period were HK$31,997,000, up from HK$24,375,000 at the beginning of the period, indicating improved liquidity[38]. Losses and Financial Challenges - Loss attributable to owners of the Company was approximately HK$26.8 million for the nine months ended 31 December 2021, compared to a loss of approximately HK$4.2 million for the same period in 2020, indicating a deterioration of 538.1%[25]. - The Group's loss from continuing operations for the nine months ended 31 December 2021 was approximately HK$14.99 million[30]. Strategic Adjustments - The Group is shifting its strategic focus from dine-in services to takeaway services to maintain competitiveness amid ongoing COVID-19 restrictions[97]. - Due to the fifth wave of COVID-19, the Board anticipates a harsh and unpredictable catering service business environment in Hong Kong for the next six months, leading to a resolution to allocate an additional HK$3.0 million for working capital[151][154].

Financial Performance - The Group recorded revenue of approximately HK$200.2 million for the six months ended 30 September 2021, a significant increase from approximately HK$3.6 million for the same period in 2020, representing a growth of over 5,500%[19]. - Gross profit for the six months ended 30 September 2021 was approximately HK$9.6 million, compared to approximately HK$1.4 million for the same period in 2020, indicating a growth of over 585%[19]. - Loss attributable to owners of the Company for the six months ended 30 September 2021 was approximately HK$22.0 million, compared to approximately HK$1.7 million for the same period in 2020, reflecting an increase in loss of over 1,200%[19]. - Basic and diluted loss per share was approximately HK$0.13 for the six months ended 30 September 2021, compared to approximately HK$0.01 (restated) for the same period in 2020[19]. - Total comprehensive loss for the period was approximately HK$36.265 million, compared to HK$1.714 million for the same period in 2020[24]. - The Group reported a loss before tax of HK$35,116,000 for the six months ended 30 September 2021, compared to a loss of HK$1,714,000 for the same period in 2020[65]. - The total segment loss for the Group for the six months ended 30 September 2021 was HK$24,461,000, compared to a loss of HK$1,714,000 for the same period in 2020[68]. Revenue Sources - Revenue from the manufacture and sale of frozen aquatic products in PRC reached HK$185,956,000 for the six months ended 30 September 2021, with no revenue reported for the same period in 2020[65]. - The Group's revenue from catering services through restaurant operations for the six months ended 30 September 2021 was HK$200,247,000, compared to HK$3,598,000 for the same period in 2020, representing a significant increase[65]. - Excluding revenue from Jintian of approximately HK$185.9 million, revenue from catering services increased by approximately HK$10.7 million to HK$14.3 million, attributed to increased dining out and consumption due to relaxed restrictions[142]. Expenses and Costs - Administrative expenses for the period were approximately HK$5.9 million, compared to HK$2.6 million for the same period in 2020, indicating an increase of over 126%[22]. - Employee benefit expenses for the six months ended September 30, 2021, totaled HK$11,174, compared to HK$2,719 in the same period of 2020, reflecting a substantial increase[7]. - Central administrative costs and finance costs for the six months ended 30 September 2021 amounted to HK$10,655,000[65]. - The Group recognized impairment losses of HK$21,395 related to right-of-use assets during the period ended September 30, 2021[7]. - The Group recognized a one-off loss of approximately RMB18.0 million (equivalent to approximately HK$21.4 million) due to inventory impairment caused by stock deterioration from a power supply failure at the cold storage facility during the National Day Holidays in China[165]. Assets and Liabilities - As of September 30, 2021, total assets less current liabilities amounted to HK$41,991,000, an increase from HK$29,178,000 as of March 31, 2021[28]. - Current liabilities surged to HK$136,290,000 from HK$8,106,000, primarily driven by an increase in trade payables to HK$104,280,000[28]. - The Group's current ratio and quick ratio were 1.1 and 0.9 respectively as of September 30, 2021, down from 2.8 for both ratios as of March 31, 2021[182][187]. - The Group's borrowings included lease liabilities of approximately HK$12.2 million and bonds of approximately HK$4.5 million, resulting in a gearing ratio of approximately 49.7%[177][179]. Compliance and Governance - The company emphasizes compliance with the GEM Listing Rules, ensuring that the information presented is accurate and complete[4]. - The board of directors collectively accepts full responsibility for the report, confirming no misleading or deceptive information is included[4]. - The company has a commitment to transparency and accuracy in its financial reporting, as stated by the directors[4]. - The unaudited condensed consolidated financial statements are prepared on a historical cost basis and presented in Hong Kong dollars (HK$), with all values rounded to the nearest thousands (HK$'000)[50]. Corporate Actions - The Group issued 215,999,995 rights shares at HK$0.17 each on September 6, 2021, as part of a rights issue[110]. - The authorized share capital was increased to HK$100 million, divided into 10 billion existing shares, following a share consolidation[110]. - The Group completed the acquisition of Zhangzhou Jintian Food Co., Limited on May 18, 2021, with the total consideration settled in cash[119]. - The identifiable net assets acquired from Jintian amounted to HK$18.91 million, with goodwill arising from the acquisition of HK$0.70 million[127]. Market Environment - The company operates in a market characterized by higher investment risks associated with small and mid-sized companies listed on GEM[2]. - There is an acknowledgment of potential market volatility affecting securities traded on GEM compared to those on the Main Board[3]. - The Group's business consolidation was influenced by the economic impact of the China-United States trade war and the COVID-19 pandemic[133].