Revenue Performance - Revenue for the three months ended December 31, 2020, was HKD 19,362,000, a decrease of 55.7% compared to HKD 43,724,000 for the same period in 2019[7] - Total revenue for the nine months ended December 31, 2020, was HKD 57,713,000, down 53.9% from HKD 125,100,000 in the previous year[7] - The group reported external customer revenue of HKD 57,454,000 from bar operations and HKD 259,000 from property investment for the nine months ended December 31, 2020, totaling HKD 57,713,000[21] - Revenue decreased by approximately 53.9% from HKD 125.1 million in the previous period to HKD 57.7 million due to the ongoing pandemic and mandatory closures[41] Profit and Loss - The company reported a loss of HKD 4,262,000 for the nine months ended December 31, 2020, compared to a profit of HKD 12,389,000 in the same period of 2019[7] - Basic and diluted loss per share for the nine months ended December 31, 2020, was HKD 0.51, compared to earnings of HKD 1.00 in the previous year[7] - The group incurred a loss before tax of HKD 4,262,000 for the nine-month period, with a segment loss of HKD 3,112,000 from bar operations and a profit of HKD 133,000 from property investment[21] - The group incurred a loss attributable to owners of HKD 4,382,000 for the nine months ended December 31, 2020, compared to a profit of HKD 8,575,000 in the same period of 2019[36] Other Income and Government Support - Other income increased significantly to HKD 11,552,000 for the three months ended December 31, 2020, compared to HKD 851,000 in the same period of 2019[7] - The group recognized COVID-19 related rent concessions amounting to HKD 1,761,000 as other income during the reporting period[19] - The group received COVID-19 related government subsidies amounting to HKD 26,219,000 for the nine months ended December 31, 2020[29] - Other income increased approximately 9.5 times from HKD 2.7 million to HKD 28.3 million, primarily due to government subsidies related to social distancing measures[44] Equity and Dividends - The company’s total equity attributable to owners decreased to HKD 54,428,000 as of December 31, 2020, from HKD 68,279,000 as of April 1, 2020[9] - The company declared a dividend of HKD 4,730,000 during the nine months ended December 31, 2020[9] - The group did not declare any interim dividend for the period, consistent with the previous year[35] - The company has not declared an interim dividend for the period, consistent with the previous year[53] Operational Impact of COVID-19 - The group’s operational performance was affected by mandatory closures of bars in Hong Kong due to the pandemic, with no bar revenue recorded during the closure periods[13] - The group’s management continues to assess the impact of the pandemic on future operations and financial performance[14] - The group applied new accounting standards related to COVID-19 rent concessions, which did not have a significant impact on the reported amounts[18] Employee Costs and Financing - The group’s total employee costs for the nine months ended December 31, 2020, were HKD 27,860,000, down from HKD 32,729,000 in the same period of 2019, reflecting a decrease of 14.9%[33] - Financing costs for the nine months ended December 31, 2020, were HKD 2,572,000, a decrease of 11.1% from HKD 2,892,000 in the same period of 2019[30] - The group’s financing costs totaled HKD 2,572,000, which included interest expenses of HKD 1,918,000 from bar operations[22] Asset and Liability Management - The asset-liability ratio rose significantly to 82.0% from 17.6% in the previous year, indicating increased leverage[63] - Total bank borrowings increased to approximately HKD 50.5 million from HKD 13.4 million, reflecting a reliance on debt financing[66] - Cash and cash equivalents decreased to HKD 3.8 million from HKD 17.1 million, indicating a decline in liquidity[63] Corporate Governance - The company confirms compliance with all applicable corporate governance codes as per GEM Listing Rules, except for the combined role of chairperson and CEO[78] - The board has adopted a code of conduct for securities trading, ensuring all directors have adhered to the standards throughout the reporting period[79] - The financial information in the quarterly report has not been audited or reviewed by independent auditors, but the audit committee has reviewed the unaudited condensed consolidated financial statements[85] Shareholder Information - The company has a total of 431,543,700 shares held by Moment to Moment, representing approximately 50.18% of the issued share capital[72] - The only shareholder of Moment to Moment is Harneys, which acts as the trustee for the Pacific Bar Trust, with key beneficiaries including the chairperson and CEO, Ms. Xie, and her daughter, Ms. Chen[73] - As of December 31, 2020, there were no other disclosures of interests or short positions by directors or key executives in the company or its affiliates[74] - Ms. Chen holds 24,925,038 shares directly, which accounts for approximately 2.90% of the issued share capital[75] Management Changes - The monthly salary of the newly appointed executive director, Ms. Chen Jing, was adjusted from HKD 52,290 to HKD 20,000[86]

Financial Performance - Total revenue for the six months ended September 30, 2020, was HKD 38,351,000, a decrease of 52.8% compared to HKD 81,376,000 for the same period in 2019[6] - The company reported a loss before tax of HKD 6,088,000 for the six months ended September 30, 2020, compared to a profit of HKD 8,834,000 in the same period of 2019[6] - Basic loss per share for the six months ended September 30, 2020, was HKD (0.68), compared to earnings of HKD 0.70 per share in the same period of 2019[6] - For the six months ended September 30, 2020, the company reported a total comprehensive loss of HKD 5,857,000, compared to a profit of HKD 6,007,000 for the same period in 2019, representing a decline of 197.4%[9] - The company reported a significant increase in property, plant, and equipment purchases, totaling HKD 9,732,000, compared to HKD 4,121,000 in the previous year[12] - The company incurred a total of HKD 15,523,000 in cash outflow from investing activities, compared to HKD 12,317,000 in the previous year, indicating increased investment expenditures[12] - The company recognized a negative variable lease payment of HKD 809,000 due to COVID-19 related rent concessions, which directly impacted the financial results[42] Assets and Liabilities - Non-current assets increased to HKD 165,912,000 as of September 30, 2020, from HKD 141,047,000 as of March 31, 2020[8] - Current assets decreased to HKD 19,968,000 as of September 30, 2020, from HKD 44,336,000 as of March 31, 2020[8] - Total liabilities increased to HKD 126,122,000 as of September 30, 2020, compared to HKD 114,807,000 as of March 31, 2020[8] - The company's net assets decreased to HKD 59,758,000 as of September 30, 2020, from HKD 70,576,000 as of March 31, 2020[8] - As of September 30, 2020, the total equity attributable to owners of the company decreased to HKD 52,953,000 from HKD 68,279,000 as of the previous year, reflecting a decline of 22.4%[9] Cash Flow and Financing - The company's cash and cash equivalents decreased by HKD 24,574,000, ending at HKD 8,012,000 as of September 30, 2020, compared to HKD 62,967,000 at the same date in 2019[12] - Operating cash flow for the six months ended September 30, 2020, was a net outflow of HKD 2,451,000, a significant decrease from a net inflow of HKD 25,869,000 in 2019[12] - The group received government grants amounting to HKD 13,135,000 during the financing activities, which were not present in the previous year[12] - The group received COVID-19 related government subsidies totaling HKD 15,242,000 during the six-month period[33] - The group had total bank financing commitments of 55,800,000 HKD, with specific performance obligations related to the controlling shareholder[110] Operational Changes - The company did not record any bar operating revenue during the mandatory closure period from April 3 to May 7, 2020, and from July 15 to September 18, 2020, due to COVID-19[16] - The company opened two new stores and closed one during the period, operating a total of 41 stores as of September 30, 2020[63] - The company plans to open two additional stores in the fourth quarter of 2020[63] - The company is actively exploring financial measures and support from the government to mitigate the negative impacts of the pandemic on its operations[16] Employee and Operational Costs - Total employee costs for the six months ended September 30, 2020, amounted to HKD 19,755,000, down 8.1% from HKD 21,501,000 in the previous year[6] - Employee costs decreased by approximately 7.9% from HKD 21.5 million to HKD 19.8 million, influenced by the mandatory closure period[70] - The group had approximately 380 employees as of September 30, 2020, compared to 350 employees a year earlier[93] Future Outlook and Strategic Plans - The company plans to continue exploring market expansion opportunities and new product development strategies in the upcoming periods[6] - The company provided a positive outlook, projecting a revenue growth of 10% for the next quarter, driven by increased consumer demand[119] - New product launches are expected to contribute an additional HKD 100 million in revenue over the next six months[119] - The company is considering strategic acquisitions to bolster its market position, with a budget of HKD 200 million allocated for potential deals[119] - Operational efficiency improvements are expected to reduce costs by 8%, enhancing overall profitability[119] Corporate Governance - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2020[117] - The company has complied with all applicable corporate governance code provisions, except for the separation of the roles of chairman and CEO[104] - The company is actively seeking suitable candidates for the role of chairman and CEO to comply with corporate governance standards[104]

Financial Performance - Revenue for the three months ended June 30, 2020, was HKD 27,454,000, a decrease of 29% compared to HKD 38,878,000 for the same period in 2019[6] - Other income increased significantly to HKD 12,715,000 from HKD 204,000 year-on-year[6] - The gross profit margin improved, with a pre-tax profit of HKD 5,375,000, up 73% from HKD 3,096,000 in the previous year[6] - Net profit attributable to owners of the company was HKD 4,863,000, compared to HKD 2,145,000 in the same quarter of 2019, representing a 127% increase[6] - Basic and diluted earnings per share increased to HKD 0.57 from HKD 0.25 year-on-year[6] - The company reported a total comprehensive income of HKD 5,352,000 for the quarter, compared to HKD 2,525,000 in the same period last year[6] - Revenue decreased from approximately HKD 38.9 million in the previous period to about HKD 27.4 million, a decline of approximately 29.6%[38] - Gross profit for the period was HKD 20.6 million, down 30.2% from HKD 29.5 million in the previous period, with a stable gross margin of approximately 74.9%[38] - The group recorded a profit of approximately HKD 5.4 million for the period, up from approximately HKD 2.5 million in the previous period, reflecting an increase of about 53.7%[48] Revenue Breakdown - Revenue from bar operations was HKD 27,366,000, down 29.5% from HKD 38,878,000 in the previous year[24] - The company recognized revenue at a point in time, confirming that the revenue from bar operations is recognized when the goods and services are transferred to customers[26] Expenses and Costs - Interest expenses for the period totaled HKD 805,000, an increase from HKD 589,000 in the same period last year[28] - Employee costs slightly decreased from approximately HKD 10.7 million to about HKD 10.6 million, reflecting a balance between reduced costs during the closure period and increased headcount[40] - Depreciation of property, plant, and equipment rose from approximately HKD 2.1 million to about HKD 2.3 million, an increase of approximately 9.5% due to the opening of three new stores[41] - Depreciation of right-of-use assets increased by approximately 8.5% from HKD 7.1 million to HKD 7.7 million, attributed to new lease agreements[43] - Property rental and related expenses increased from approximately HKD 692,000 to about HKD 709,000, a rise of approximately 2.5%[44] - Other operating expenses rose from approximately HKD 5.3 million to about HKD 5.7 million, an increase of approximately 7.5% due to the growth in the number of stores[45] - Financing costs increased from approximately HKD 0.6 million to about HKD 0.8 million, representing a growth of 33.3% due to bank loan interest of approximately HKD 225,000[46] - Tax expenses decreased from approximately HKD 0.6 million to about HKD 23,000, a reduction of approximately 96.2%, primarily due to a decrease in operating profit after deducting non-taxable government subsidies of HKD 12.6 million[47] Government Support - Government grants received amounted to HKD 12,587,000, contributing significantly to the overall income for the period[27] - Other income surged from approximately HKD 0.2 million to about HKD 12.7 million, an increase of approximately 6250%, primarily due to government subsidies[39] Corporate Governance - The company has adopted and complies with all applicable provisions of the corporate governance code as per GEM Listing Rules Appendix 15, except for the roles of the Chairperson and CEO not being separated[59] - The board has established a diversity policy with measurable targets to enhance board composition, considering factors such as gender, age, cultural background, and professional qualifications[60] - The company emphasizes the importance of effective leadership and transparency in its operations, as stated in its corporate governance practices[59] Future Strategies - The company continues to focus on expanding its bar chain under the "Pacific" brand in Hong Kong[12] - Future strategies include enhancing operational efficiency and exploring new investment opportunities in the hospitality sector[12] - The company plans to expand its network and upgrade existing store facilities, with new leases signed for locations in Yuen Long and Sheung Shui expected to open in Q3 2020[34] Shareholder Information - Moment to Moment holds 431,543,700 shares, representing approximately 50.18% of the company's issued share capital[55] - The major shareholder, Moment to Moment, is a trust with Harneys as the trustee, and the beneficiaries include the CEO and her daughter[57] - The board has resolved not to declare any interim dividend for the three months ended June 30, 2020 (previous period: none)[49] - The board will continue to review the dividend policy and does not guarantee the payment of any specific amount of dividends in any given period[63] - The board will consider various factors, including financial performance and capital requirements, when deciding on dividend payments[65] Segment Information - The company has one reportable segment, which is bar operations, and has recently opened a new reportable segment for property investment following the acquisition of Jun Tin Development Limited[19] - The company has not identified any individual customer transactions exceeding 10% of total revenue, indicating a diversified customer base[23] Compliance and Audit - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements for the period and confirmed compliance with applicable accounting standards and GEM Listing Rules[71] - The company plans to apply new or revised Hong Kong Financial Reporting Standards upon their effective date, with no significant impact expected on the financial statements[18] Risk Management - As of June 30, 2020, the group had no significant contingent liabilities[50] - The group operates solely in Hong Kong, and transactions are denominated in HKD, thus foreign exchange risk is considered not significant[51] - There are no known direct or indirect competitive businesses or interests that could pose a conflict with the group's operations as of June 30, 2020[58]

Company Overview - The company operates in the GEM market, which is designed for small to medium-sized companies with higher investment risks compared to other listed companies[1]. - The company is listed on the Hong Kong GEM with the stock code 8432, and the trading unit is set at 10,000 shares[11]. - The company’s headquarters and main operating location are situated in Hong Kong, specifically in Hung Hom[11]. - The company has undergone changes in its independent auditor, with Deloitte resigning on October 29, 2019, and Hong Kong Shinewing CPA Limited being appointed on October 30, 2019[10]. - The company confirms that the information in the annual report is accurate and complete, with no misleading or fraudulent elements[1]. Financial Performance - The group's operating profit before tax for bars was HKD 13.2 million, an increase of 30.7% compared to the previous year[14]. - The total revenue from bar operations for the year was HKD 167.0 million, representing an 11.1% increase from approximately HKD 150.3 million in the previous year[23]. - Same-store sales growth was recorded at 3.4% for the year[20]. - The number of operating stores increased to 40, up by 8.1% from 37 stores in the previous year[20]. - The gross profit for bar operations was HKD 128.9 million, a 10.5% increase from HKD 116.6 million in the previous year, with a stable gross margin of approximately 77.2%[23]. - Employee costs rose to approximately HKD 45.5 million, an increase of about 2% from HKD 44.7 million in the previous year[26]. - Depreciation expenses for property, plant, and equipment increased by approximately 12% to about HKD 9.3 million due to the opening of three new stores during the year[27]. - Other income for the year was approximately HKD 5.3 million, including government subsidies of HKD 3.2 million under the epidemic prevention fund[25]. - Property rental and related expenses decreased by approximately 77.9% from about HKD 29.8 million in the previous year to about HKD 6.6 million this year, primarily due to the adoption of HKFRS 16[28]. - Other operating expenses decreased by approximately 3.5% from about HKD 25.7 million to about HKD 24.8 million, mainly due to improved internal cost control[29]. - Financing costs increased dramatically to HKD 2.9 million from HKD 30,000 in the previous year, primarily due to new bank loan interest of HKD 0.4 million and lease liabilities interest of HKD 2.5 million[30]. - Tax expenses totaled HKD 1 million this year, down from HKD 1.5 million in 2019, with current tax expenses increasing to HKD 2.4 million due to higher operating profits[31]. - As of March 31, 2020, the group had capital commitments of HKD 900,000, compared to none in 2019[32]. - The group had no contingent liabilities as of March 31, 2020, consistent with the previous year[33]. - Cash and cash equivalents decreased to HKD 32.6 million from HKD 50.3 million in 2019, with bank borrowings of HKD 32.4 million reported for the first time[48]. Corporate Governance - The company has a diverse board of directors, including an independent non-executive director and various committees for audit, remuneration, and nomination[10]. - The company has a strong emphasis on governance, with independent directors serving on key committees to ensure accountability and transparency[60][61][62]. - The board consists of five members, with independent non-executive directors accounting for over 50% of the board, exceeding GEM listing rules requirements[80]. - The company has adopted and complied with all applicable code provisions of the corporate governance code as per GEM listing rules, except for the separation of the roles of chairman and CEO[77]. - The company is committed to identifying and establishing good corporate governance practices to enhance shareholder value[74]. - The board is responsible for overseeing the management of the group's business affairs and overall performance[78]. - The company has made appropriate insurance arrangements for legal liabilities of directors and senior management[82]. - The independent non-executive directors have confirmed their independence in accordance with GEM listing rules[81]. - The company has a balanced composition of executive and independent non-executive directors to ensure high independence and effective independent judgment[80]. - The board has established various committees to delegate responsibilities and ensure effective governance[78]. - The company has a diversity policy for the board, focusing on a balanced mix of skills, experience, and diverse perspectives to meet business needs[100]. - The company has established a clear process for nominating directors, considering various diversity aspects including gender, age, and professional experience[102]. - The company is committed to reviewing and monitoring compliance with legal and regulatory requirements as part of its corporate governance practices[113]. - The company has a structured succession plan for the board, ensuring a smooth transition and continuity in governance[102]. - The Audit Committee is responsible for reviewing the effectiveness of the internal control systems within the group[108]. - The company emphasizes the importance of training and continuous professional development for directors and senior management[113]. Shareholder Information - The board declared an interim dividend of HKD 0.55 per share, totaling HKD 4.73 million, an increase from HKD 4.3 million in the previous year[36]. - The board's dividend policy aims to balance shareholder profit sharing with sufficient liquidity for future growth opportunities[94]. - The company is committed to reviewing its dividend policy regularly, without guaranteeing specific amounts for any designated period[95]. - The board considers various factors, including financial performance and capital requirements, when deciding on dividend payments[97]. - The board proposed a final dividend of HKD 0.55 per share for the current year, totaling HKD 4,730,000, pending shareholder approval at the 2020 annual general meeting[132]. - The company reported a mid-term dividend of HKD 0.55 per share, totaling HKD 4,730,000, paid on December 11, 2019, compared to HKD 0.50 per share in 2019[132]. Risk Management - The board is responsible for evaluating and determining the nature and extent of risks involved in achieving the group's strategic objectives, maintaining effective risk management and internal control systems[116]. - The audit committee assists the board in overseeing the risk management and internal control systems, with annual reviews conducted by independent professional advisors[117]. Market Strategy - The company plans to maintain its core bar business and existing brand strategy to increase market share in Hong Kong, leveraging its established customer base[39]. - The company is actively pursuing market expansion strategies, leveraging its experienced management team to drive growth[57]. - The company has a commitment to developing new products and technologies to stay competitive in the market[57]. - The company is exploring potential partnerships and collaborations to enhance business development opportunities[57]. Compliance and Regulations - The company emphasizes compliance with GEM listing rules and corporate governance codes in its operations[86]. - The company has adopted the GEM listing rules regarding securities trading standards, confirming compliance by all directors for the year[123]. - The company has maintained compliance with relevant laws and regulations without any significant violations during the year[184]. - The compliance advisor, Choy Yau Capital Limited, has no relevant interests to disclose under GEM Listing Rules[152]. Social Responsibility - The company is committed to environmental protection through green office measures, including the use of energy-efficient LED lighting and electronic billing[186]. - The company has adopted a sustainable development strategy focusing on environmental sustainability, respect for human rights, and community relations[197]. - The group made charitable donations of approximately HKD 32,500 in the current year, compared to HKD 27,224 in 2019[182]. - The company has provided ongoing professional training to employees to enhance their skills and knowledge[189]. - The company has engaged in various activities to promote employee well-being and teamwork, including overseas trips and annual dinners[189]. - The company has conducted a comprehensive review of its environmental, social, and governance performance to improve overall results in the future[198].

Revenue and Profit - Revenue for the three months ended December 31, 2019, was HKD 43,724,000, representing a 16.4% increase from HKD 37,533,000 in the same period of 2018[6] - Revenue for the nine months ended December 31, 2019, was HKD 125,100,000, up 10.5% from HKD 113,586,000 in the previous year[6] - The company reported a profit before tax of HKD 3,555,000 for the three months ended December 31, 2019, compared to HKD 624,000 in the same period of 2018[6] - The net profit for the three months ended December 31, 2019, was HKD 3,001,000, significantly higher than HKD 391,000 in the previous year[6] - Basic and diluted earnings per share for the nine months ended December 31, 2019, were HKD 1.00, compared to HKD 0.52 in the same period of 2018[6] - Total comprehensive income for the nine months ended December 31, 2019, was HKD 9,818,000, an increase from HKD 5,393,000 in the previous year[6] Costs and Expenses - The company incurred financing costs of HKD 1,043,000 for the three months ended December 31, 2019, compared to HKD 7,000 in the same period of 2018[6] - Employee costs for the nine months ended December 31, 2019, were HKD 32,729,000, down from HKD 35,322,000 in the previous year[6] - For the nine months ended December 31, 2019, the group reported a decrease in profit of HKD 1,902,000 due to increased depreciation and financing costs[34] - The group’s financing costs for the nine months ended December 31, 2019, amounted to HKD 2,892,000, compared to HKD 23,000 in the previous year[41] - The group reported a decrease in property rental and related expenses by HKD 21,018,000 for the nine months ended December 31, 2019[34] - The group’s tax expense for the nine months ended December 31, 2019, was HKD 2,571,000, compared to HKD 1,597,000 in the previous year[42] Dividends - The company declared dividends totaling HKD 9,030,000 during the nine months ended December 31, 2019[8] - The group declared an interim dividend of HKD 0.55 per share for the six months ended September 30, 2019, totaling HKD 4,730,000, an increase from HKD 4,300,000 in the previous year[45] - The company has not declared an interim dividend for the nine months ended December 31, 2019[68] Financial Position - The company’s total equity attributable to owners as of December 31, 2019, was HKD 67,824,000, compared to HKD 65,238,000 as of April 1, 2018[8] - As of December 31, 2019, the company's cash and cash equivalents were HKD 17.1 million, while as of March 31, 2019, it increased to HKD 50.3 million[77] - The total bank borrowings amounted to approximately HKD 13.4 million as of December 31, 2019, compared to zero in 2018[80] - The company had an asset-to-equity ratio of 17.6% as of December 31, 2019, and 0% as of March 31, 2019[77] - As of December 31, 2019, the company has a bank loan facility of HKD 20,000,000 with no fixed term, subject to specific performance obligations[99] Operations and Expansion - The company operates a chain of bars under the "Pacific Bar" and "Pacific" brands in Hong Kong[1] - The company opened three new stores during the current period, bringing the total number of stores to 40 as of the report date[50] - The company plans to open three additional stores to further expand its network[51] - The company utilized approximately HKD 34.0 million of the planned HKD 35.5 million for brand expansion, with delays due to the lack of suitable locations[52] Financial Reporting and Compliance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and GEM listing rules[12] - The company has adopted new and revised Hong Kong Financial Reporting Standards, including HKFRS 16 on leases, effective from April 1, 2019[15] - The cumulative impact of the first-time application of HKFRS 16 was recognized on April 1, 2019, without restating comparative information[18] - The company will not reassess contracts identified as leases prior to the first application date of HKFRS 16[18] - The company recognizes right-of-use assets at the lease commencement date, measured at cost less accumulated depreciation and impairment losses[21] - Lease liabilities are recognized at the present value of lease payments not paid as of the lease commencement date[25] - The company will remeasure lease liabilities under certain conditions, such as changes in lease term or exercise of purchase options[27] - The financial statements have not been reviewed or audited by independent auditors but have been reviewed by the audit committee[14] - The audit committee consists of three independent non-executive directors and has reviewed the unaudited financial statements for the nine months ended December 31, 2019[103] Shareholder Information - Moment to Moment holds 431,543,700 shares, representing approximately 50.18% of the company's issued share capital as of December 31, 2019[89] - The company has a total of 860,000,000 shares issued as of December 31, 2019[21] - The company has not repurchased any of its listed securities during the reporting period[97] - The company has adopted a share option scheme since December 17, 2016, but no options have been granted or exercised as of December 31, 2019[98] Governance and Risk - The company confirms compliance with the corporate governance code as per GEM listing rules, except for the roles of chairman and CEO not being separated[93] - The company has not disclosed any interests or short positions in shares or related securities as of December 31, 2019[91] - The company has confirmed that there are no direct or indirect competitive businesses held by directors or major shareholders during the reporting period[92] - The company has no significant foreign exchange risk and has not implemented any foreign currency hedging policies[83] - The company believes it has sufficient financial resources to meet its business and operational needs as of the report date[77]

Financial Performance - Total revenue for the six months ended September 30, 2019, was HKD 81,376,000, representing an increase of 7.5% compared to HKD 76,053,000 for the same period in 2018[6] - The company reported a net profit of HKD 6,817,000 for the six months ended September 30, 2019, up 36.3% from HKD 5,002,000 in the same period last year[6] - Basic earnings per share increased to HKD 0.70 for the six months ended September 30, 2019, compared to HKD 0.52 for the same period in 2018, reflecting a growth of 34.6%[6] - The total comprehensive income for the period was HKD 6,007,000, compared to HKD 4,463,000 for the same period in 2018, reflecting a growth of approximately 34.6%[9] - The company's retained earnings increased to HKD 7,563,000 as of September 30, 2019, up from HKD 2,858,000 a year earlier, representing a growth of 164.5%[9] - Profit for the current period was approximately HKD 6.8 million, compared to HKD 5.0 million in the previous period[83] Assets and Equity - The company’s total assets as of September 30, 2019, were HKD 137,274,000, a significant increase from HKD 75,726,000 as of March 31, 2019[8] - The company has a total equity of HKD 77,766,000 as of September 30, 2019, up from HKD 75,249,000 as of March 31, 2019[8] - As of September 30, 2019, the total equity attributable to owners of the company was HKD 69,986,000, an increase from HKD 65,238,000 a year earlier, reflecting a growth of 7.5%[9] - The company’s total assets increased to HKD 77,766,000 as of September 30, 2019, compared to HKD 71,816,000 in the previous year, marking an increase of 8.2%[9] Cash Flow and Liquidity - Cash and cash equivalents increased to HKD 62,967,000 as of September 30, 2019, compared to HKD 50,277,000 as of March 31, 2019, indicating improved liquidity[8] - The net cash generated from operating activities for the six months ended September 30, 2019, was HKD 25,869,000, a significant increase from HKD 9,012,000 in the same period of 2018[11] - The company reported a net increase in cash and cash equivalents of HKD 12,690,000, compared to HKD 4,831,000 in the prior year, showing improved liquidity[11] Expenses and Costs - The cost of goods sold for the six months ended September 30, 2019, was HKD 19,038,000, an increase from HKD 16,413,000 in the same period of 2018[6] - Employee costs decreased to HKD 21,501,000 for the six months ended September 30, 2019, from HKD 23,959,000 in the same period last year, reflecting a reduction of 10.3%[6] - Depreciation expenses increased by HKD 13,096,000 due to the adoption of HKFRS 16[35] - Property rental and related expenses decreased by HKD 13,324,000, reflecting the impact of the new accounting standard[35] - The total depreciation expense for property, plant, and equipment was HKD 17,511,000 for the six months ended September 30, 2019, compared to HKD 4,136,000 in the previous year, indicating a substantial rise due to the adoption of new accounting standards[48] Investments and Acquisitions - The company has made deposits for the acquisition of a subsidiary amounting to HKD 5,590,000, indicating ongoing expansion efforts[11] - The group completed the acquisition of a subsidiary for HKD 50 million on July 23, 2019[91] - The group has incurred capital commitments of approximately HKD 45 million for the acquisition of a subsidiary during the reporting period[63] Dividends - The company paid dividends totaling HKD 4,300,000 during the period, which is the first dividend payment recorded[11] - The company declared an interim dividend of HKD 0.55 per share for the six months ended September 30, 2019, compared to HKD 0.50 per share in 2018, marking a 10% increase[51] - The board declared an interim dividend of HKD 0.55 per share, totaling HKD 4,730,000, up from HKD 4,300,000 in 2018[84] Accounting Standards and Compliance - The application of HKFRS 16 resulted in an increase in other income by HKD 142,000 for the six months ended September 30, 2019[35] - The group chose to apply the modified retrospective approach for the initial application of HKFRS 16, without restating comparative information[24] - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2019, and confirmed compliance with applicable accounting standards and GEM listing rules[125] Market Strategy and Expansion - The company plans to continue expanding its market presence and investing in new product development to drive future growth[1] - The company is focusing on brand expansion and marketing activities to increase brand awareness and market penetration[67] - The company plans to open an additional three new stores in the fourth quarter of 2019, building on the nine new stores opened since the listing date[68] Financing Activities - The group secured new bank loans totaling HKD 16,441,000 during the period, with interest rates ranging from 4.0% to 4.5%[59] - The company’s financing activities resulted in a net cash outflow of HKD 862,000, compared to HKD 183,000 in the previous year, reflecting changes in financing strategy[11] - The company must maintain a tangible net worth of at least HKD 30,000,000 as part of its financing obligations[119] Corporate Governance - The company confirms that there are no known direct or indirect competitive businesses held by its directors or controlling shareholders[108] - The board has adopted corporate governance practices in line with GEM Listing Rules, except for the roles of the chairman and CEO not being separated[109] - The company has established a code of conduct for directors' securities transactions, which complies with GEM Listing Rules[110]

Financial Performance - Revenue for the three months ended June 30, 2019, was HKD 38,878,000, representing an increase of 5.4% compared to HKD 36,876,000 for the same period in 2018[8] - The cost of goods sold for the same period was HKD 9,425,000, up from HKD 9,076,000, indicating a rise of 3.9%[8] - The pre-tax profit for the quarter was HKD 3,096,000, which is a 6.2% increase from HKD 2,915,000 in the previous year[8] - The net profit attributable to owners of the company was HKD 2,145,000, compared to HKD 2,074,000, reflecting a growth of 3.4%[8] - Basic and diluted earnings per share for the quarter were HKD 0.25, up from HKD 0.24 in the same quarter of the previous year[8] - Total comprehensive income for the period was HKD 2,525,000, an increase from HKD 2,367,000, marking a growth of 6.7%[8] Expenses - Employee costs for the quarter were HKD 10,731,000, slightly up from HKD 10,602,000, indicating a rise of 1.2%[8] - Depreciation expenses increased significantly to HKD 9,201,000 from HKD 1,993,000, showing a rise of 361.5%[8] - The company reported a financing cost of HKD 589,000, which is a substantial increase from HKD 8,000 in the previous year[8] - Other income for the three months ended June 30, 2019, totaled HKD 204,000, a decrease from HKD 796,000 in the same period of 2018, reflecting a decline of approximately 74.4%[29] - Property rental and related expenses decreased from approximately HKD 7.1 million to about HKD 0.7 million, a decline of approximately 90.2%[44] - Other operating expenses fell from approximately HKD 5.9 million to about HKD 5.3 million, a decrease of approximately 10.2%[45] Revenue Breakdown - The revenue breakdown included HKD 37,015,000 from beverages, HKD 369,000 from snacks, HKD 1,463,000 from electronic dart machines, and HKD 31,000 from other sources[23] Business Operations - The company operates a single business segment, which is the operation of chain bars in Hong Kong, with no geographical revenue breakdown presented[27] - The company confirmed that no individual customer accounted for more than 10% of total revenue during the reporting period, indicating a diversified customer base[28] Corporate Governance - The company has adopted and complied with all applicable corporate governance code provisions as per GEM Listing Rules Appendix 15, except for the separation of the roles of Chairman and CEO[61] - The company is in the process of identifying suitable candidates for the role of CEO, as the current CEO also serves as Chairman[61] - The company has established a code of conduct for directors' securities trading, ensuring compliance with GEM listing rules[67] Shareholder Information - As of June 30, 2019, Moment to Moment Company Limited holds 431,543,700 shares, representing approximately 50.18% of the company's issued share capital[58] - The company has no knowledge of any other individuals or entities holding 5% or more of the voting shares as of June 30, 2019[59] - The company’s major shareholders include Harneys Trustees Limited, which acts as a trustee for the Pacific Bar Trust[58] - The company has a total of 14,655,038 shares held by Chen Wei, representing approximately 1.70% of the issued share capital[58] Future Plans - The company plans to open four new stores by March 31, 2020, following the opening of two new stores in the third quarter of 2019[37] Dividend Policy - The board has decided not to declare an interim dividend for the period ending June 30, 2019[50] - The board's dividend policy aims to allow shareholders to share in profits while retaining sufficient liquidity for future growth opportunities[63] - The board will consider various factors, including financial performance and capital requirements, before recommending any dividend payments[65] - The board will continue to review the dividend policy and does not guarantee any specific amount of dividends in any given period[66] Acquisitions - The company has entered into a formal sale agreement to acquire Jun Tin Development Limited for HKD 50,000,000, with the main business being property investment[53] - The company has entered into a formal sale agreement to acquire 100% of the issued share capital of Jun Tian Development Limited for HKD 50 million, focusing on property investment[74] Compliance and Audit - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated financial statements for the three months ended June 30, 2019, ensuring compliance with applicable accounting standards[76] - The company has not repurchased any listed securities during the reporting period[69] - No stock options have been granted or exercised since the adoption of the stock option plan on December 17, 2016[70] Accounting Standards - The company has adopted new accounting standards related to leases, impacting the recognition of lease liabilities and right-of-use assets[15][21] - Interest on lease liabilities for the three months ended June 30, 2019, was HKD 583,000, reflecting the impact of the new lease accounting standard[30] - The company has not made any adjustments to lease liabilities during the reporting period[19] - The company’s operational performance is reviewed by senior management based on financial data prepared in accordance with the same accounting policies[26]

Financial Performance - The company reported a significant increase in revenue for the fiscal year ending March 31, 2019, with total revenue reaching HKD 100 million, representing a growth of 25% compared to the previous year[11] - The group recorded revenue of HKD 150,340,000 and profit of HKD 8.6 million for the year, representing an increase of 11.9% and 32.3% respectively compared to the previous year[15] - Revenue increased by approximately 12% from about HKD 134.3 million to approximately HKD 150.3 million, primarily due to the opening of three new stores and the effect of the World Cup[27] - Profit for the year recorded at approximately HKD 8.6 million, up from HKD 6.5 million in 2018, mainly due to improved performance of new stores[28] Market Expansion and Strategy - User data indicated a rise in active customers, with a 30% increase in user engagement year-over-year, reflecting the effectiveness of recent marketing strategies[11] - The company provided a positive outlook for the upcoming fiscal year, projecting a revenue growth of 20% and aiming to expand its market share in the Asia-Pacific region[11] - Market expansion plans include entering two new countries in Southeast Asia, projected to increase overall market reach by 15%[11] - The group plans to open four new stores in the current fiscal year ending March 31, 2020, to increase market share in Hong Kong[24] Product Development - New product launches are expected to contribute an additional HKD 15 million in revenue, with a focus on innovative beverage offerings targeting younger demographics[11] - The group introduced a new brand "Pacific" targeting customers who enjoy fine wines, cocktails, and coffee[16] Operational Efficiency - The company is investing in new technology to enhance operational efficiency, with an estimated budget of HKD 5 million allocated for the development of a new inventory management system[11] - The company is investing in new technology development, allocating E million towards R&D initiatives aimed at enhancing operational efficiency[62] Sustainability Initiatives - The board of directors emphasized the importance of sustainability initiatives, with plans to reduce carbon emissions by 10% over the next three years[11] - The company highlighted its commitment to sustainability, planning to reduce carbon emissions by K% over the next five years[62] - The group has adopted green office measures to reduce energy and natural resource consumption, including the use of energy-efficient LED lighting and double-sided printing[187] - The group is committed to sustainable development strategies, focusing on environmental sustainability, respect for human rights, and maintaining relationships with local communities[198] Corporate Governance - The board consists of five directors, with independent non-executive directors accounting for over 50% of the board members, exceeding GEM listing rules requirements[78] - The company has adopted and complied with all applicable code provisions of the corporate governance code as per GEM listing rules, except for the roles of the chairman and CEO not being separated[74] - All independent non-executive directors have confirmed their independence in accordance with GEM listing rules, ensuring compliance with independence guidelines[79] - The board has established various committees to delegate responsibilities and ensure effective governance[75] Employee and Training Initiatives - The group is committed to enhancing employee training to ensure quality service delivery[22] - Continuous professional development training was provided to all directors, covering topics related to their roles and responsibilities[84] Financial Management - The company proposed a final dividend of HKD 0.50 per share, pending shareholder approval, totaling HKD 4.3 million[38] - The company has adopted a dividend policy that allows shareholders to share in profits while retaining sufficient liquidity for future growth opportunities[91] - The company’s financial performance and capital requirements will be considered when determining dividend payments[94] Risk Management - The company has established a risk management and internal control system, which is reviewed annually by independent professional consultants[113] - The board is responsible for evaluating the effectiveness of the risk management and internal control systems[111] Community Engagement - Charitable donations made by the group during the year amounted to approximately HKD 27,224[183] - The group emphasizes maintaining long-term harmonious relationships with employees, customers, and business partners, providing a pleasant and healthy work environment[190] Compliance and Regulations - The group has complied with relevant laws and regulations without any serious violations during the year[185] - The company has adopted the GEM listing rules regarding securities trading standards, confirming compliance by all directors during the year[119]

Financial Performance - Revenue for the three months ended December 31, 2018, was HKD 37,533,000, representing an increase of 10.3% compared to HKD 33,927,000 for the same period in 2017[12]. - For the nine months ended December 31, 2018, revenue reached HKD 113,586,000, up 13.4% from HKD 100,242,000 in the previous year[12]. - The group reported a profit before tax of HKD 624,000 for the three months ended December 31, 2018, compared to a loss of HKD 281,000 in the same period of 2017[12]. - The profit attributable to owners of the company for the nine months ended December 31, 2018, was HKD 4,481,000, an increase of 32.6% from HKD 3,380,000 in the previous year[12]. - Basic and diluted earnings per share for the nine months ended December 31, 2018, were HKD 0.52, compared to HKD 0.39 for the same period in 2017[12]. - For the nine months ended December 31, 2018, the total comprehensive income attributable to owners was HKD 4,481,000, compared to HKD 3,380,000 for the same period in 2017, representing an increase of 32.6%[14]. - The net profit for the review period was approximately HKD 5.4 million, compared to HKD 3.9 million in the previous period, marking an increase of approximately 38.5%[46]. Operating Expenses - Total operating expenses for the three months ended December 31, 2018, were HKD 27,362,000, an increase from HKD 25,306,000 in the same period of 2017[12]. - Employee costs for the nine months ended December 31, 2018, totaled HKD 35,322,000, up from HKD 30,228,000 in 2017, marking an increase of 16.8%[27]. - The cost of goods sold increased from approximately HKD 23.3 million to about HKD 25.2 million, reflecting an increase of 8.2% consistent with revenue growth[37]. - Depreciation expenses increased from approximately HKD 4.8 million to about HKD 6.1 million, a growth of approximately 27.1% due to new store openings and renovations[40]. Financing and Costs - The group incurred financing costs of HKD 7,000 for the three months ended December 31, 2018, down from HKD 10,000 in the previous year[12]. - The interest expense on finance leases for the nine months ended December 31, 2018, was HKD 23,000, down from HKD 33,000 in 2017, representing a decrease of 30.3%[25]. - The tax expense for the nine months ended December 31, 2018, was HKD 1,597,000, compared to HKD 1,369,000 in 2017, reflecting an increase of 16.7%[26]. - Financing costs decreased from approximately HKD 33,000 to about HKD 23,000, a reduction of approximately 30.3% due to the completion of a vehicle financing lease[44]. Market and Growth Strategy - The company plans to continue expanding its market presence and exploring new product development opportunities[10]. - The group has reported an increase in user data, indicating a growing customer base and engagement[10]. - Future outlook remains positive with strategic initiatives aimed at enhancing operational efficiency and profitability[10]. - The company opened three new stores during the review period, bringing the total number of stores to 36 as of December 31, 2018[32]. - The company plans to open four new stores annually for the fiscal years ending March 31, 2019, and March 31, 2020[33]. Shareholder Information and Governance - As of December 31, 2018, Moment to Moment Company Limited holds 431,543,700 shares, representing approximately 50.18% of the company's issued share capital[52]. - The major shareholders include Harneys Trustees Limited, which also holds 431,543,700 shares, equating to 50.18% of the issued share capital[54]. - Chen Wei holds 445,348,738 shares, which is approximately 51.78% of the company's issued share capital[54]. - The company has adopted the corporate governance code as per GEM Listing Rules, ensuring compliance with governance standards[58]. - The board believes that the dual role of the Chairperson and CEO held by Ms. Xie is in the best interest of the company, despite the governance code suggesting these roles should be separate[58]. - The board diversity policy considers various factors including gender, age, cultural background, and professional qualifications[59]. - The company has confirmed that all directors have complied with the trading rules during the review period[60]. - The company has established a trust structure where Ms. Xie and her daughter are primary beneficiaries, influencing share ownership[56]. - The company has a clear disclosure of interests by directors and major shareholders, ensuring transparency in ownership[54]. - No share options were granted since the adoption of the share option scheme on December 17, 2016, and there were no unexercised options as of December 31, 2018[64]. Audit and Compliance - The audit committee reviewed the unaudited condensed consolidated financial statements for the nine months ended December 31, 2018, and confirmed compliance with applicable accounting standards and GEM listing rules[67]. - There were no significant events affecting the group from December 31, 2018, to the date of the quarterly report[65]. - No direct or indirect competition has been reported from the directors or major shareholders during the review period[57].