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。 BAR PACIFIC GROUP HOLDINGS LIMITED 太平洋酒吧集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8432） 截至2025年3月31日止年度之末期業績公佈 聯交所GEM的特色 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。有意投資者應了解投資該等公司的潛在風險，並應經過審慎周詳考慮後方可作 出投資決定。 由於GEM上市公司一般為中小型公司，在GEM買賣的證券可能會較於聯交所主板買賣的證 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。 太平洋酒吧集團控股有限公司（「本公司」）董事（「董事」）願共同及個別對本公告負全責。本公 告乃遵照聯交所GEM證券上市規則（「GEM上市規則」）的規定提供有關本公司及其附屬公司 （統稱「本集團」）的資料。董事經作出一切合理查詢後確認，就彼 ...

Revenue and Profitability - Revenue for the six months ended September 30, 2024, was HKD 98,072,000, a decrease of 10% compared to HKD 108,960,000 for the same period in 2023[12] - For the six months ended September 30, 2024, the total revenue from external customers was HKD 98,702,000, with bar and restaurant operations contributing HKD 97,785,000 and property investment contributing HKD 287,000[61] - Revenue from external customers for the six months ended September 30, 2024, was HKD 108,960,000, a decrease of 8.8% compared to HKD 119,220,000 for the same period in 2023[69] - Revenue from bar and restaurant operations was HKD 108,564,000 for the six months ended September 30, 2024, down from HKD 106,308,000 in the previous period, reflecting a decline of 2.1%[91] - The group reported a loss before tax of HKD 2,386,000, compared to a profit of HKD 1,733,000 in the previous year[12] - The net loss for the period was HKD 2,143,000, compared to a profit of HKD 1,637,000 for the same period last year[12] - Basic and diluted loss per share was HKD 0.25, compared to earnings of HKD 0.14 per share in the prior year[12] - The group reported a cumulative loss of HKD 42,509,000 as of September 30, 2024[61] Costs and Expenses - The cost of goods sold was HKD 24,953,000, down from HKD 29,837,000, reflecting a 16% reduction[12] - Total employee costs decreased to HKD 32,415,000 from HKD 35,237,000, representing a reduction of approximately 8%[105] - Other operating expenses decreased by 2.4% to HKD 13.8 million from HKD 14.1 million in the previous period, attributed to a reduction in variable costs directly related to the decline in sales revenue[147] - Financing costs increased to HKD 2,563,000 from HKD 2,460,000, reflecting a 4% rise[12] - The gross profit from restaurant and bar operations for the period was HKD 72.8 million, a decrease of 7.5% compared to HKD 78.7 million in the previous period, with a stable gross margin of 74.5%[165] Assets and Liabilities - The group’s current liabilities exceeded current assets by HKD 95,808,000 as of September 30, 2024[25] - Total liabilities increased to HKD 163,705,000, up 6.5% from HKD 154,476,000[28] - As of September 30, 2024, total assets amounted to HKD 191,698,000, an increase of 4.7% from HKD 183,838,000 as of March 31, 2024[28] - Non-current assets totaled HKD 171,787,000, reflecting a growth of 2.0% from HKD 167,439,000[28] - Current assets increased to HKD 19,911,000, up 21.0% from HKD 16,399,000[28] - Cash and cash equivalents rose to HKD 3,463,000, a significant increase of 64.4% compared to HKD 2,107,000[28] - The company reported a net asset value of HKD 27,993,000, down 4.6% from HKD 29,362,000[28] Financial Position and Going Concern - The group violated bank loan covenants amounting to HKD 41,583,000 as of September 30, 2024, raising significant doubt about its ability to continue as a going concern[25] - The group has a bank loan of HKD 41,583,000, with management expecting to maintain the same level of bank financing[58] - The group’s tangible net worth decreased to below HKD 30,000,000, resulting in a breach of covenant, which has been communicated with the bank[133] - The group plans to apply for additional loans under the SME Financing Guarantee Scheme provided by the Hong Kong government[78] Operational Developments - The company has initiated new product and technology development, although specific details were not disclosed in the provided content[43] - The group plans to continue expanding its bar and restaurant operations in Hong Kong and mainland China[52] - The company opened two new bars under the "Pacific Bar" brand in Huizhou and Guangzhou, targeting different customer segments[164] - The group operates 56 bars/restaurants under various brands in Hong Kong and mainland China as of September 30, 2024[143] - The group operates 56 bars and restaurants under four different brands, targeting the mass market to increase market share in Hong Kong[194] Government Support and Grants - The group received government subsidies of HKD 204,000 under the "Hong Kong Nightlife" local citizen program, down from HKD 281,000 in the previous year[93] - Government grants received amounted to HKD 204,000, down from HKD 281,000, a decrease of about 27.5%[115] Shareholder Information - The company did not declare or propose any dividends during the interim period[98] - The board has resolved not to declare a dividend for the period, consistent with the previous period[150] - The company has issued 19,264,000 unvested shares as of September 30, 2024, representing 2.24% of the total issued shares, down from 3.36% as of March 31, 2024[159] - As of September 30, 2024, the total number of unvested share awards under the share plan was 57,104,000[199] - The group adopted a new share plan on September 29, 2023, allowing for share awards to be granted to directors and employees[194] Training and Development - The group provided regular internal training to employees to enhance their knowledge and skills[189]

Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 98,072,000, a decrease of 10.5% from HKD 108,960,000 for the same period in 2023[3] - The group reported a loss of HKD 2,143,000 for the period, compared to a profit of HKD 1,637,000 in the previous year, representing a significant decline[3] - Basic and diluted loss per share for the period was HKD (0.25), compared to earnings of HKD 0.14 per share in the prior year[5] - The group’s operating loss for the six months ended September 30, 2024, was HKD 1,146,000, compared to a profit of HKD 2,930,000 for the same period in 2023, indicating a significant decline in performance[24][27] - The gross profit for the same period was HKD 72.8 million, down from HKD 78.7 million in the previous period, representing a decrease of 7.5%[65] - The gross profit margin for the period was 74.5%, compared to 72.5% in the previous period, indicating a stable level[65] Assets and Liabilities - Total assets as of September 30, 2024, amounted to HKD 191,698,000, an increase from HKD 183,838,000 as of March 31, 2024[7] - Non-current assets increased to HKD 171,787,000 from HKD 167,439,000, driven by a rise in right-of-use assets[7] - Current liabilities totaled HKD 115,719,000, up from HKD 111,323,000, reflecting increased financial obligations[7] - The group’s net assets decreased to HKD 27,993,000 from HKD 29,362,000, indicating a decline in equity[9] - As of September 30, 2024, the group's current liabilities exceeded current assets by HKD 95,808,000, raising concerns about liquidity[18] - The group has communicated with banks regarding a breach of covenant on bank borrowings amounting to HKD 41,583,000, and the bank has agreed to allow the group to rectify this by May 17, 2025[18] Revenue Sources - The group reported external customer revenue of HKD 98,072,000 for the six months ended September 30, 2024, compared to HKD 108,960,000 for the same period in 2023, representing a decrease of approximately 10%[24][27] - The group’s total revenue from the bar and restaurant segment was HKD 97,785,000 for the six months ended September 30, 2024, down from HKD 108,564,000 in the previous year[24][27] - Revenue from bar and restaurant operations for the six months ended September 30, 2024, was HKD 97,785,000, a decrease of 10% compared to HKD 108,564,000 for the same period in 2023[37] - Revenue from external customers in Hong Kong was HKD 97,834,000 for the six months ended September 30, 2024, down from HKD 108,960,000 in the same period of 2023, a decrease of 10.2%[35] Operational Developments - The company continues to operate under its established brands, including "Pacific Bar" and "Moon Ocean," focusing on bar and restaurant operations in Hong Kong and mainland China[12] - The company opened two new bars under the "Pacific Bar" brand in Huizhou and Guangzhou, China, expanding its presence in the region[64] - As of September 30, 2024, the company operated a total of 56 bars/restaurants across Hong Kong and mainland China[64] Financing and Cash Flow - The group plans to apply for additional loans under the SME Financing Guarantee Scheme provided by the Hong Kong government, which offers 80% guarantees[18] - The group anticipates maintaining its bank loan financing levels while potentially selling properties to repay bank borrowings if necessary[18] - The group’s management has prepared cash flow forecasts covering a 12-month period to assess the appropriateness of using the going concern basis for preparing financial statements[19] - Cash and cash equivalents increased to HKD 3.5 million from HKD 2.1 million, while bank borrowings rose to HKD 55.8 million from HKD 51.7 million[86] - The debt-to-equity ratio increased to 511% from 458%[86] Employee and Operational Costs - The total employee costs for the period were HKD 32.415 million, down from HKD 35.237 million in the previous period[49] - Employee costs decreased by 8.0% to HKD 32.4 million from HKD 35.2 million, attributed to reduced part-time employee hours due to lower sales[69] - Operating lease payments and related expenses rose by 17.4% to HKD 4.5 million from HKD 3.9 million, mainly due to the expansion of bars and restaurants[72] Share Incentive Plan - A total of 9,632,000 shares were granted as part of the share incentive plan during the period[100] - The fair value of the share incentive granted on the grant date was HKD 0.081 per share[100] - The weighted average closing price of shares prior to the vesting date was HKD 0.06[100] - As of April 1, 2024, the total number of reward shares available for grant under the share plan is 57,104,000[102] - The share rewards will vest in three tranches over 36 months[97] - The share rewards are not subject to any performance targets[99] Other Income and Expenses - The company reported a government grant of HKD 204,000 for the six months ended September 30, 2024, down from HKD 281,000 in the same period of 2023, representing a decrease of 27.5%[40] - Other income increased by 4.3% to HKD 3.6 million from HKD 3.5 million, primarily due to increased sponsorship revenue[67] - Financing costs totaled HKD 2,563,000 for the six months ended September 30, 2024, slightly higher than HKD 2,460,000 for the same period in 2023, indicating a rise of 4.2%[42] Compliance and Governance - The company has complied with all applicable corporate governance codes during the reporting period[103] - There have been no significant subsequent events after the reporting period[108]

Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 98,072,000, a decrease of 10.5% from HKD 108,960,000 for the same period in 2023[3] - The net loss for the period was HKD 2,143,000 compared to a profit of HKD 1,637,000 in the previous year, indicating a significant decline in profitability[3] - Basic and diluted loss per share was HKD 0.25, compared to earnings of HKD 0.14 per share in the prior year[5] - The group reported external customer revenue of HKD 98,072,000 for the six months ended September 30, 2024, a decrease from HKD 108,960,000 in the same period of 2023, representing a decline of approximately 10.4%[24] - The group's operating loss for the six months ended September 30, 2024, was HKD 1,146,000, compared to a profit of HKD 2,930,000 for the same period in 2023, indicating a significant downturn in performance[24][27] - The company reported a total comprehensive loss of HKD 2,084,000 for the period, compared to a comprehensive income of HKD 1,637,000 in the previous year[5] - The group recorded a loss before tax of HKD 2,386,000 for the six months ended September 30, 2024, compared to a profit before tax of HKD 1,733,000 for the same period in 2023[24][26] Assets and Liabilities - Total assets as of September 30, 2024, amounted to HKD 191,698,000, an increase from HKD 183,838,000 as of March 31, 2024[7] - Current liabilities totaled HKD 115,719,000, up from HKD 111,323,000 at the end of the previous fiscal year[7] - Non-current assets increased to HKD 171,787,000 from HKD 167,439,000, showing growth in long-term investments[7] - As of September 30, 2024, the group's current liabilities exceeded current assets by HKD 95,808,000, raising concerns about liquidity[18] - Total reportable segment assets as of September 30, 2024, amounted to HKD 183,838,000, with liabilities totaling HKD 154,476,000, resulting in a net asset value of HKD 29,362,000[29] - The total employee costs for the period were HKD 32.415 million, down from HKD 35.237 million in the previous period[49] - Trade receivables as of September 30, 2024, were HKD 1.286 million, a decrease from HKD 2.568 million as of March 31, 2024[57] Financing and Liquidity - The group has communicated with banks regarding a breach of covenant on bank borrowings amounting to HKD 41,583,000, and the bank has agreed to allow the group to rectify this by May 17, 2025[18] - The group plans to apply for additional loans under the SME Financing Guarantee Scheme provided by the Hong Kong government, which offers 80% guarantees[18] - The group has implemented measures to improve liquidity, including potential asset sales to repay bank loans and fund operations[19] - The group’s management is optimistic about maintaining the same level of bank financing despite current challenges, based on their cash flow forecasts[19] - Cash and cash equivalents increased to HKD 3.5 million from HKD 2.1 million, while bank borrowings rose to HKD 55.8 million from HKD 51.7 million[86] - The debt-to-equity ratio increased to 511% from 458%[86] Operational Highlights - The company continues to operate under its brands "Pacific Bar," "Shape," "Moon Ocean," and "Pacific" in Hong Kong and mainland China[12] - The company is focused on maintaining its market presence and exploring potential strategies for future growth despite recent financial challenges[12] - As of September 30, 2024, the company operated 56 bars/restaurants in Hong Kong and mainland China, having opened two new bars in Huizhou and Guangzhou under the "Pacific Bar" brand[64] - The company plans to maintain its core bar business and existing brand strategy, aiming to increase market share in Hong Kong[92] - No significant acquisitions or disposals of subsidiaries or joint ventures occurred during the period[85] Revenue Streams - The group’s property investment segment generated revenue of HKD 1,258,000, contributing to the overall revenue of HKD 98,072,000[24] - Revenue from bar and restaurant operations for the six months ended September 30, 2024, was HKD 97,785,000, a decrease of 10% compared to HKD 108,564,000 for the same period in 2023[37] - For the six months ended September 30, 2024, the revenue from operating restaurants and bars was HKD 97.8 million, a decrease of approximately 9.9% compared to HKD 108.6 million for the same period in 2023[65] Expenses and Costs - The cost of goods sold decreased to HKD 24,953,000 from HKD 29,837,000, reflecting a reduction of 16.5%[3] - The total operating expenses included cleaning expenses of HKD 1.696 million and utility expenses of HKD 3.307 million[49] - Financing costs totaled HKD 2,563,000 for the six months ended September 30, 2024, up from HKD 2,460,000 in the same period of 2023, indicating a 4% increase[42] - Employee costs decreased by 8.0% to HKD 32.4 million from HKD 35.2 million, attributed to reduced part-time employee hours due to lower sales[69] - Operating lease payments and related expenses rose by 17.4% to HKD 4.5 million from HKD 3.9 million, mainly due to the expansion of bars and restaurants[72] Shareholder Information - The company did not declare or pay any dividends to ordinary shareholders during the interim period[51] - A total of 9,632,000 shares were granted as part of the share incentive plan during the period[100] - The fair value of the share awards on the grant date was HKD 0.081 per share[100] - The weighted average closing price of the shares immediately before the vesting date was HKD 0.06[100] - The number of reward shares available for grant under the share plan as of September 30, 2024, is 57,104,000[102] - No rewards were granted under the share plan during the period[102] - The share awards will vest in three tranches over 36 months[97] - The share awards are not subject to any performance targets[99] Compliance and Governance - The company has complied with all applicable corporate governance codes during the reporting period[103]

Financial Performance - Depreciation expenses increased to approximately HKD 11.4 million, up 20.6% due to business expansion[3] - Operating lease payments and related expenses rose to HKD 6.5 million, an increase of 48.3% attributed to the increase in the number of restaurants/bars[4] - Financing costs increased to HKD 4.8 million, a rise of 7.1% compared to HKD 4.5 million in the previous year, primarily due to rising borrowing rates[5] - Total assets as of March 31, 2024, amounted to HKD 68.563 million, down from HKD 71.513 million in 2023[8] - The group's capital commitments as of March 31, 2024, were approximately HKD 949,000, down from HKD 2,050,000 in 2023[6] - The group faces various risks, including market risk, credit risk, and liquidity risk, which may impact its financial performance[75] Corporate Governance - The company maintains a focus on corporate governance to ensure effective leadership and transparency[23] - The board has complied with GEM listing rules regarding the appointment of independent non-executive directors[25] - The board has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee to oversee specific areas of the company's affairs[34] - The Remuneration Committee considers various factors including past contributions of grant recipients, their roles, and the overall business performance when determining share awards[35] - The board consists of six directors, with independent non-executive directors making up 50% of the board, exceeding GEM listing rules requirements[46] - The Remuneration Committee is composed of one executive director and three independent non-executive directors, with Mr. Qian serving as the chairman[59] - The board emphasizes the importance of good corporate governance to achieve effective accountability and risk management[44] - The company has established a system for internal controls and risk management to ensure compliance with legal and regulatory requirements[42] - The audit committee is composed of independent non-executive directors, with Mr. Chan serving as the chairman[61] - The company has complied with GEM Listing Rule 5.28, ensuring at least one member of the audit committee has appropriate professional qualifications or accounting expertise[62] Shareholder Engagement - The company has provided channels for shareholders to express opinions and obtain information regarding company matters[92] - The company has established a process for shareholders to request special meetings if the board does not convene within 21 days[90] - The company will seek shareholder approval for any grants exceeding 1% of issued shares within a 12-month period[120] - The company plans to re-elect directors at the 2024 annual general meeting, with no service contracts that require compensation for termination within one year[128] - The company anticipates a suspension of share transfer registration from August 27 to August 30, 2024, to confirm shareholder attendance at the annual general meeting[124] Risk Management - The board is responsible for assessing risks related to environmental, social, and governance factors, establishing effective risk management systems[67] - The company is committed to monitoring risks continuously that could significantly impact its business[122] - The company engages independent professional advisors to conduct annual audits of its risk management and internal control systems[88] Environmental, Social, and Governance (ESG) Practices - The company disclosed its compliance with relevant laws and regulations affecting its environmental, social, and governance practices[96] - The company is committed to implementing sustainable development strategies across all levels, including respect for human rights and support for employees[198] - The group has adopted green office measures to reduce energy and natural resource consumption[190] - The company has maintained a focus on environmental protection through various initiatives[190] - The report covers the period from April 1, 2023, to March 31, 2024, and includes disclosures on environmental, social, and governance practices[199] Share Options and Dividends - The company did not recommend the payment of a final dividend for the year 2023[98] - The company has not granted, exercised, or cancelled any share options under the share option scheme since its adoption date[117] - The company has a share option plan that allows for the issuance of shares not exceeding 30% of the issued share capital[114] - The company has established a limit on the maximum equity that can be granted to each participant under the share option plan[135] - The share plan has a remaining duration of approximately 9 years and 3 months from the adoption date of September 29, 2023[145] - The number of shares granted under the share plan this year, relative to the weighted average number of shares issued, was 0.0336[149] - As of March 31, 2024, the number of rewards available for grant under the share plan is 57,104,000 shares, compared to zero as of April 1, 2023[168] Auditor and Compliance - The company appointed a new auditor, Tianji, effective December 30, 2022, following the resignation of the previous auditor[180] - The company received annual confirmation letters from the covenantors regarding their compliance with the non-competition agreements as of June 2024[184] - The company has adopted the GEM Listing Rules regarding securities trading standards, confirming compliance by all directors for the year[93] - The company disclosed that independent non-executive directors confirmed their independence in accordance with GEM Listing Rules[101] - The company has maintained a public float of at least 25% of its issued shares as per GEM listing rules[182] - The company has complied with GEM listing rules regarding related party transactions, with no significant related party transactions disclosed[150] Employee Welfare - The company has adopted a group hospitalization and personal accident insurance plan for its employees[171] - The company has provided training for directors, with at least 15 hours of relevant professional training completed by a director during the year[94]

Revenue Performance - Revenue from external customers in Hong Kong increased to HKD 208,030,000 in 2024 from HKD 174,933,000 in 2023, representing an increase of approximately 19%[1] - Revenue for the year ended March 31, 2024, was HKD 208,085,000, an increase of 18.9% compared to HKD 174,933,000 in 2023[101] - Total revenue for the bar and restaurant segment was HKD 207,319,000, while property investment revenue was HKD 766,000 for the year ended March 31, 2024[146] - For the year ended March 31, 2024, the operating revenue from bars and restaurants increased to HKD 207,319,000, up from HKD 174,169,000 in 2023, representing a growth of 19.0%[152] - The gross profit from restaurant and bar operations for the year was HKD 150.9 million, an increase of 17.0% compared to HKD 129.0 million in the previous year, with a gross margin of 72.8%[182] Government Subsidies - The group received government subsidies totaling HKD 311,000 in 2024, a significant decrease from HKD 9,153,000 in 2023[2] - The company received government grants totaling HKD 323,000 in 2024, a decrease from HKD 9,153,000 in 2023[166] - Other income for the year was HKD 8.0 million, a decrease of 52.4% from HKD 16.8 million in the previous year, mainly due to a significant reduction in government subsidies received[198] Expenses and Costs - The group's depreciation expenses rose to approximately HKD 11.4 million, an increase of about 20.6% compared to the previous year, primarily due to business expansion[31] - Operating lease payments and related expenses increased by 48.3% to HKD 6.5 million from HKD 4.4 million in the previous year, attributed to an increase in the number of restaurants and bars[32] - Financing costs increased by 7.1% to HKD 4.8 million from HKD 4.5 million in the previous year, mainly due to rising borrowing rates[33] - Employee costs rose to HKD (68,957,000) from HKD (57,254,000), marking an increase of 20.5%[101] - Total employee costs for the year amounted to approximately HKD 69.0 million, an increase of 20.8% from HKD 57.3 million in 2023[46] Financial Position - The group reported a significant uncertainty regarding its ability to continue as a going concern, with current liabilities exceeding current assets by HKD 94.9 million[69] - The debt-to-equity ratio improved to 458% from 564% in the previous year, indicating a stronger financial position[47] - The net current liabilities decreased to HKD (94,924,000) from HKD (98,422,000), indicating an improvement in the company's financial position[98] - The group has no significant foreign exchange risk as all transactions are conducted in HKD[45][58] - The group has no major investments or capital asset additions planned for the year[56] Share Awards and Governance - A total of 28,896,000 share awards were granted to three executive directors under the new share plan adopted on September 29, 2023[61] - The fair value of the share awards granted on September 29, 2023, was HKD 0.081 per share, with a purchase price of zero[75] - The number of share awards available for grant under the share plan as of March 31, 2024, was 57,104,000 shares[78] - The company has adopted a strict code of conduct for directors' securities trading, aligning with GEM Listing Rules[76] - The audit committee, composed of three independent non-executive directors, reviewed the annual performance and internal controls without objection[77] Profitability - The net profit for the year was HKD 791,000, a significant decrease of 92.7% from HKD 10,910,000 in the previous year[101] - Basic and diluted earnings per share decreased to HKD 0.07 from HKD 1.12, a decline of 93.8%[103] - The company reported a net profit attributable to shareholders of HKD 604,000 for the year, a significant decrease from HKD 9,674,000 in 2023[162] - The group reported a pre-tax profit of HKD 623,000 for the year ended March 31, 2024[146] Assets and Liabilities - Total assets decreased to HKD 183,838,000 from HKD 204,263,000, a reduction of 10%[107] - Total liabilities decreased to HKD 154,476,000 from HKD 176,402,000, a decline of 12.4%[109] - The company's equity increased to HKD 29,362,000 from HKD 27,861,000, an increase of 5.4%[109] - Non-current assets decreased to HKD 167,439,000 from HKD 189,743,000, a decline of 11.7%[106] - The fair value of investment properties was approximately HKD 21,500,000 as of March 31, 2024, down from HKD 22,580,000 in 2023[186] Employee and Operational Metrics - As of March 31, 2024, the group operates 54 bars and restaurants under the brands "Pacific Bar," "Shape," "Moon Ocean," and "Pacific" in Hong Kong[37] - As of March 31, 2024, the group had 566 employees, up from 552 employees in 2023[46] - Depreciation expense for right-of-use assets was HKD 38.9 million, up 14.0% from HKD 34.1 million in the previous year, primarily due to business expansion[200]

Financial Position - As of September 30, 2023, the group's current liabilities exceeded current assets by HKD 96,957,000[14] - The group violated bank loan covenants amounting to HKD 42,276,000 as of September 30, 2023[14] - The company has a significant reliance on its ability to continue as a going concern due to the current liabilities exceeding current assets[14] - Total assets as of September 30, 2023, were HKD 199,287,000, a decrease from HKD 204,263,000 as of March 31, 2023[17] - The group's total liabilities as of September 30, 2023, were HKD 169,789,000, compared to HKD 176,402,000 as of March 31, 2023, indicating a reduction of approximately 3.5%[44] - The company’s total equity as of September 30, 2023, was HKD 29,498,000, up from HKD 27,861,000 as of March 31, 2023[17] - The group’s net asset value fell below HKD 30,000,000, leading to discussions with the bank regarding covenant breaches[76] Financial Performance - Revenue for the six months ended September 30, 2023, was HKD 108,960,000, a 53.2% increase from HKD 71,154,000 in the same period of 2022[15] - Net profit for the six months ended September 30, 2023, was HKD 1,637,000, compared to HKD 1,555,000 for the same period in 2022, reflecting a 5.3% increase[15] - Basic earnings per share for the six months ended September 30, 2023, was HKD 0.14, unchanged from the same period in 2022[15] - For the six months ended September 30, 2023, the group reported external customer revenue of HKD 108,564,000 from bar and restaurant operations, an increase from HKD 70,778,000 in the same period last year, representing a growth of approximately 53.5%[41] - The total reported revenue for the group was HKD 108,960,000, compared to HKD 71,154,000 for the same period in 2022, indicating an overall increase of about 53.1%[41] - The group's reported segment performance showed a profit of HKD 2,930,000 for the six months ended September 30, 2023, up from HKD 2,616,000 in the previous year, reflecting a growth of approximately 12%[41] Cash Flow and Liquidity - Cash generated from operating activities for the six months ended September 30, 2023, was HKD 23,718,000, an increase of 74.0% from HKD 13,640,000 in 2022[20] - The company reported a net cash increase of HKD 376,000 for the six months ended September 30, 2023, compared to a decrease of HKD 165,000 in the same period of 2022[20] - The group has implemented plans to improve liquidity and financial condition, including potential asset sales to repay bank loans if necessary[39] - The group continues to assess the appropriateness of preparing financial statements on a going concern basis, supported by cash flow forecasts for the next 12 months[37] Employee and Operational Costs - The group reported a total employee cost of HKD 35,237,000 for the six months ended September 30, 2023, which is a 46.2% increase compared to HKD 24,097,000 in the same period of 2022[55] - Employee costs for the period amounted to HKD 35.2 million, a growth of 46.1% from HKD 24.1 million, attributed to the increase in the number of restaurants and bars[92] - The total depreciation of property, plant, and equipment for the six months ended September 30, 2023, was HKD 5,864,000, compared to HKD 4,628,000 in the previous year, indicating a 26.7% increase[55] Investments and Expansion - The company plans to continue expanding its market presence and investing in new product development[19] - The group operates chain bars and restaurants under the brands "Pacific Bar," "Shape," "Moon Ocean," and "Pacific" in Hong Kong, along with property investments[23] - The company opened one new bar under the "Pacific Bar" brand and one new restaurant under the "Shape" brand during the reporting period, bringing the total to 53 bars/restaurants in Hong Kong[88] - The group has signed six bar management and consulting agreements in China, marking its expansion into the Chinese market[116] Accounting and Compliance - The interim financial statements were prepared in accordance with Hong Kong Accounting Standard 34, with no significant issues identified during the review[11] - The financial statements include a comprehensive income statement, balance sheet, and cash flow statement for the relevant periods[9] - The group has adopted new accounting standards effective from April 1, 2023, which did not have a significant impact on the financial position or performance for the current and prior periods[29] - The group’s financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards and the GEM Listing Rules[34] - The audit committee reviewed the unaudited condensed consolidated financial statements for the period and confirmed compliance with applicable accounting standards and GEM listing rules[145] Shareholder Information - As of September 30, 2023, Moment to Moment holds 431,543,700 shares, representing approximately 50.18% of the company's issued share capital[125] - The total number of shares issued by the company is 860,000,000[125] - A total of 28,896,000 share awards were granted to key executives, including Ms. Chen Zhiqiao, Ms. Chen Zhihao, and Ms. Chen Jing, all of whom are executive directors and major shareholders[134] - The company has adopted a new share plan on September 29, 2023, which replaced the previous share option plan[132] - The company granted share awards on September 29, 2023, with one-third vesting after 12 months, another third after 24 months, and the final third after 36 months[139] Risks and Challenges - The company is subject to higher investment risks compared to larger companies listed on the main board of the Hong Kong Stock Exchange[3] - The report emphasizes the importance of understanding the potential risks associated with investing in GEM-listed companies[3] - The group has not reported any significant changes in accounting policies due to the application of new financial reporting standards during the interim period[29] - The group is in the process of assessing the impact of new guidelines regarding the cancellation of the MPF-offset mechanism on its accounting policies[33] - The group has not yet fully completed the assessment of the impact of the new guidelines, and the effects will be evaluated in the annual report for the year ending March 31, 2024[33]

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，並明確表示概不會 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。 BAR PACIFIC GROUP HOLDINGS LIMITED 太 平 洋 酒 吧 集 團 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：8432） 截 至2023年9月30日 止 六 個 月 的 中 期 業 績 公 告 太平洋酒吧集團控股有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公 司及其附屬公司（統稱「本集團」）截至2023年9月30日止六個月的未經審核業績 （「中期業績」）。中期業績已由本公司審核委員會審閱，並由董事會於2023年11 月6日批准。 本公告列載本公司2023/24中期報告（「中期報告」）的全文，符合聯交所GEM證券 上市規則（「GEM上市規則」）中有關中期業績初步公告附載資料的相關規定。中 期報告的印刷版本將於2023年11月10日寄發予本公司股東，並可於聯交所網站 www.hkexnews.hk及本公司網站www.b ...

Financial Performance - Revenue for the three months ended June 30, 2023, was HKD 51,623,000, a significant increase of 129% compared to HKD 22,560,000 for the same period in 2022[8] - The company reported a gross profit of HKD 38,188,000, resulting in a gross margin of approximately 74% for the first quarter of 2023[8] - The net profit for the period was HKD 1,002,000, compared to a net loss of HKD 1,805,000 in the same quarter of the previous year[8] - Basic and diluted earnings per share for the quarter were HKD 0.12, a recovery from a loss of HKD 0.20 per share in the prior year[8] - Total operating expenses increased to HKD 48,744,000, up from HKD 34,908,000 in the previous year, primarily due to higher employee costs and other operating expenses[8] - The operating profit for the reporting segments was HKD 1,556,000, a significant improvement from a loss of HKD 1,349,000 in the same quarter of 2022[27][28] - The company reported a pre-tax profit of HKD 1,002,000 for the quarter, compared to a pre-tax loss of HKD 1,737,000 in the prior year[27][28] - Government grants received during the quarter amounted to HKD 269,000, a decrease from HKD 5,980,000 in the same period last year[39] - The company incurred depreciation expenses of HKD 9,552,000 for right-of-use assets, compared to HKD 7,046,000 in the previous year[30][31] - The total tax expense for the period was approximately zero, compared to HKD 68,000 in the previous period[59] Operational Developments - The company plans to continue expanding its market presence and is exploring new product development opportunities to drive future growth[8] - The company operated 53 bars/restaurants as of June 30, 2023, with new openings in Tuen Mun and Yuen Long[47] - The group operates under various brands including "Pacific Bar," "Shape," "Moon Ocean," and "Pacific," focusing on bar and restaurant chains in Hong Kong[12] - The group is involved in property investment in Hong Kong as part of its core business operations[12] - The company is expanding its market presence, targeting an additional 50 locations across Hong Kong and Macau by the end of 2024[97] - New product launches contributed to a 5% increase in sales, with three new beverage lines introduced during the quarter[97] - Research and development investments increased by 30%, focusing on innovative beverage technologies[97] - The management is confident in the business outlook and plans to further expand the business network in the coming year[76] Financial Position and Funding - As of June 30, 2023, total equity attributable to owners of the company was HKD 22,274,000, an increase from HKD 21,315,000 at the beginning of the quarter[10] - The group expects to secure approximately HKD 9,600,000 in additional loans under the SME Financing Guarantee Scheme provided by the Hong Kong government[15] - The group has already drawn down HKD 9,007,000 in loans during the reporting period[15] - The group's bank borrowings totaled approximately HKD 59.2 million as of June 30, 2023, compared to HKD 52.6 million as of March 31, 2023, reflecting an increase of 12.5%[71] - The company has bank financing agreements totaling HKD 20,000,000, HKD 10,000,000, HKD 25,800,000, HKD 21,500,000, and HKD 4,000,000, with no fixed term but subject to review until May 15, 2024[92] - The company has committed to maintaining a tangible net worth of at least HKD 30,000,000 as part of its financing conditions[93] - The board believes that, considering the plans and measures in place, the group will have sufficient working capital to meet its financial obligations in the foreseeable future[16] Challenges and Risks - As of June 30, 2023, the group violated its bank loan covenant amounting to HKD 43,181,000, indicating significant uncertainty regarding the group's ability to continue as a going concern[13] - The management plans to rectify the covenant breach by May 15, 2024, and anticipates maintaining the same level of bank loan financing[13] - The group has no significant foreign exchange risk as all transactions are conducted in Hong Kong dollars[75] - The company did not recognize any COVID-19 related rent concessions in the current quarter, compared to HKD 1,261,000 in the same quarter of 2022[8] Customer and Market Insights - External customer revenue from bars and restaurants was HKD 51,425,000, up 130% from HKD 22,373,000 in the previous year[27][35] - Customer satisfaction ratings improved to 90%, reflecting enhanced service quality and product offerings[97] - User data showed a growth in active customers by 20%, totaling 500,000 users by the end of the quarter[97] Sustainability and Corporate Governance - The board emphasized a commitment to sustainability initiatives, aiming for a 25% reduction in carbon footprint by 2025[97] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements for the period[94] - The company did not declare any dividends for the period, consistent with the previous period[44] Compliance and Reporting - The financial information for the quarter is prepared in accordance with applicable Hong Kong Financial Reporting Standards and GEM listing rules[23] - The group is evaluating the impact of newly issued or revised Hong Kong Financial Reporting Standards on its financial statements[19] - The adoption of new accounting standards is not expected to have a significant impact on the group's financial reporting[19] - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the period[68] - The group has not made any significant investments representing 5% or more of total assets as of June 30, 2023[67] - No significant events occurred after June 30, 2023, up to the date of report approval[95]

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，並明確表示概不會 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。 BAR PACIFIC GROUP HOLDINGS LIMITED 太 平 洋 酒 吧 集 團 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：8432） 截 至2023年6月30日 止 三 個 月 的 第 一 季 度 業 績 公 告 太平洋酒吧集團控股有限公司董事會（分別為「本公司」、「董事」及「董事會」）宣 佈本公司及其附屬公司（統稱「本集團」）截至2023年6月30日止三個月的未經審 核業績（「第一季度業績」）。第一季度業績已由本公司審核委員會審閱，並由董 事會於2023年8月7日批准。 本公告列載本公司2023/24第一季度報告（「第一季度報告」）的全文，符合聯交所 GEM證券上市規則（「GEM上市規則」）中有關第一季度業績初步公告附載資料的 相關規定。第一季度報告的印刷版本將於2023年8月11日寄發予本公司股東， 並可於聯交所網站www.hkexnew ...