Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 43,161,000, a decrease of 20.5% compared to HKD 54,325,000 in the same period of 2023[6] - Gross profit for the same period was HKD 31,075,000, down 21.6% from HKD 39,667,000 year-on-year[6] - The company reported a loss before tax of HKD 1,433,000, compared to a profit of HKD 4,646,000 in the previous year[6] - Basic and diluted loss per share was HKD (0.62), a significant decline from HKD 2.69 in the prior year[6] - The company reported a comprehensive income of HKD 4,646,000 for the six months ended June 30, 2023, compared to a loss of HKD 1,433,000 for the six months ended June 30, 2024, indicating a shift in financial performance[10] - The company reported a loss attributable to owners of approximately HKD 1.4 million, compared to a profit of HKD 4.6 million in the previous period, mainly due to reduced revenue from restaurant closures[51] Assets and Liabilities - Total current assets increased to HKD 18,436,000 from HKD 14,754,000, reflecting a 25.5% rise[7] - Cash and cash equivalents rose to HKD 8,094,000, up from HKD 1,014,000, indicating a substantial improvement in liquidity[7] - Total liabilities decreased slightly to HKD 143,035,000 from HKD 144,687,000, showing a marginal reduction in financial obligations[8] - The company's equity deficit improved to HKD (95,197,000) from HKD (102,379,000), indicating a positive trend in financial health[8] - The company's current liabilities exceeded its current assets by approximately HKD 124,599,000 as of June 30, 2024, indicating potential liquidity challenges[15] - The company’s total borrowings amounted to approximately HKD 60,721,000, with HKD 43,807,000 due within one year, highlighting the need for refinancing strategies[15] Cash Flow and Financing - The net cash generated from operating activities for the six months ended June 30, 2024, was HKD 1,105,000, a significant decline of 77% compared to HKD 4,816,000 for the same period in 2023[11] - The company raised HKD 8,615,000 through the placement of new shares during the reporting period, contributing positively to its financing activities[11] - The total cash and cash equivalents at the end of the reporting period were HKD 8,094,000, an increase from HKD 2,218,000 at the end of the previous year, reflecting a growth of approximately 264%[11] - The company is actively considering various financing arrangements to enhance its market value and equity, demonstrating a proactive approach to financial management[15] - The company plans to maintain a prudent cash management policy to ensure readiness for future growth opportunities[58] Operational Strategies - The company is focusing on market expansion and new product development strategies to enhance future performance[6] - The company plans to launch a new light meal brand in China, utilizing dining robots to enhance service quality and efficiency[52] - The company aims to accelerate the opening of new restaurants when market conditions allow, diversifying its existing restaurant portfolio[52] - Employee costs decreased by approximately HKD 1.2 million or 6.1% to about HKD 18.5 million, attributed to the closure of certain restaurants[47] Shareholder Information - As of June 30, 2024, major shareholder Chen Yuanlong holds 34,560,000 shares, representing approximately 14.29% of the company's equity[66] - UBS Group AG holds 17,747,999 shares, representing approximately 7.34% of the company's equity[66] - UBS AG London Branch holds 17,736,000 shares, representing approximately 7.33% of the company's equity[66] - The total number of issued shares as of June 30, 2024, is 241,920,000[67] Corporate Governance - The audit committee reviewed the unaudited condensed consolidated financial statements for the period, confirming compliance with applicable accounting standards and GEM listing rules[74] - The company has not established an internal audit function during the period, but the audit committee and board will continue to review the need for such a function annually[72] - The board believes that good corporate governance is essential for managing the group's business and affairs, and it regularly reviews its governance practices[71] - The company has adopted the GEM listing rules regarding securities trading standards for directors, with all directors confirming compliance during the period[70] Legal and Compliance - The company is required to pay a total of HKD 1,500,000 plus interest and legal fees to Fubi Capital Limited as per the court's final judgment[63] - The company must pay a total of HKD 2,000,000 plus interest and legal fees to Chan Chun Kau as per the court's final judgment[65] - The company did not make any insurance arrangements for potential legal actions against directors, as the board assessed the risk of significant claims to be minimal[72]

Financial Performance - For the six months ended June 30, 2024, the company reported revenue of HKD 43,161,000, a decrease of 20.5% compared to HKD 54,325,000 for the same period in 2023[7]. - Gross profit for the same period was HKD 31,075,000, down 21.6% from HKD 39,667,000 in the previous year[7]. - The company recorded a loss before tax of HKD 1,433,000, compared to a profit of HKD 4,646,000 in the prior year, indicating a significant decline in performance[7]. - Basic and diluted loss per share was HKD (0.62), a decrease from earnings of HKD 2.69 per share in the same period last year[7]. - The company incurred total employee costs of HKD 18,521,000, slightly down from HKD 19,706,000 in the previous year[7]. - Other income and net gains were HKD 26,000, significantly lower than HKD 182,000 in the previous year, indicating reduced ancillary revenue streams[7]. - The company reported a total comprehensive income of HKD 4,646,000 for the six months ended June 30, 2024, compared to a loss of HKD 1,433,000 in the previous period[11]. - The company's loss attributable to owners was approximately HKD 1.4 million, a decrease from a profit of approximately HKD 4.6 million in the previous period, primarily due to the closure of two restaurants[52]. Assets and Liabilities - As of June 30, 2024, the total non-current assets amounted to HKD 29,447,000, a decrease from HKD 30,031,000 as of December 31, 2023, reflecting a decline of approximately 1.9%[8]. - Current assets increased to HKD 18,436,000 from HKD 14,754,000, representing a growth of about 25.5%[8]. - The total current liabilities slightly decreased to HKD 143,035,000 from HKD 144,687,000, a reduction of approximately 1.1%[9]. - The total equity deficit as of June 30, 2024, was HKD 95,197,000, an improvement from HKD 102,379,000 as of December 31, 2023, showing a reduction of approximately 7%[9]. - As of June 30, 2024, the group's current liabilities exceeded current assets by approximately HKD 124,599,000, with net liabilities of about HKD 95,197,000[16]. - The total amount of interest-bearing bank and other borrowings was approximately HKD 60,721,000, while cash and cash equivalents were only about HKD 8,094,000[16]. Cash Flow and Financing - The net cash generated from operating activities for the six months ended June 30, 2024, was HKD 1,105,000, down from HKD 4,816,000 in the same period last year, indicating a decline of about 77%[12]. - The company raised HKD 8,615,000 through the placement of new shares during the financing activities[12]. - Cash and cash equivalents increased significantly to HKD 8,094,000 from HKD 1,014,000, marking a rise of approximately 696%[12]. - The company intends to use 50% of the net proceeds from a recent share placement, approximately HKD 4.26 million, for general working capital, including rent and salary expenses in Hong Kong and China[54]. Revenue Breakdown - Revenue from the "Dragon Emperor" brand decreased by approximately HKD 7.4 million or 21.0% to about HKD 27.9 million, primarily due to the closure of two restaurants[44]. - Revenue from the "Dragon Robe" brand decreased by approximately HKD 3.8 million or 20.0% to about HKD 15.2 million, impacted by challenging business conditions and lingering effects of the COVID-19 pandemic[45]. Employee and Operational Costs - Employee costs for the period were approximately HKD 18.5 million, a decrease of about HKD 1.2 million or 6.1% compared to HKD 19.7 million in the previous period[48]. - Rental and related expenses decreased by approximately HKD 0.2 million or 4.3% to about HKD 4.5 million, attributed to a reduction in the number of restaurants operated[50]. - Other operating expenses decreased by approximately HKD 0.7 million or about 8.0% to approximately HKD 8.0 million, mainly due to the closure of certain restaurants[51]. Corporate Governance and Compliance - The company remains committed to transparency and accuracy in its financial reporting, as emphasized by the board's responsibility for the information provided[2]. - The audit committee reviewed the unaudited condensed consolidated financial statements for the period and found them compliant with applicable accounting standards and GEM listing rules[75]. - The company has complied with the corporate governance code except for minor deviations noted during the period[72]. Future Plans and Strategies - The company plans to enhance its market presence and explore new strategies for growth, although specific details were not disclosed in the report[7]. - The company plans to launch a new light meal brand in China, utilizing dining robots to enhance service quality and efficiency, and aims to increase market share through franchising[53]. - The company will continue to monitor and adjust its operational strategies to meet consumer demands and seize holiday consumption opportunities[53]. Legal Matters - The company is involved in significant litigation, including a judgment requiring payment of HKD 1,500,000 plus interest and legal fees to Fubi Capital Limited[64]. - Another litigation case involves a judgment against the company's subsidiary, requiring payment of HKD 2,000,000 plus interest and legal fees to Chen Zhenqiu[66]. - The company has reached a settlement in a lawsuit related to renovation contracts for its restaurant in Wan Chai, Hong Kong[66]. Shareholder Information - As of June 30, 2024, major shareholder Chen Yuanlong holds 34,560,000 shares, representing approximately 14.29% of the company's equity[67]. - UBS Group AG holds 17,747,999 shares, accounting for 7.34% of the company's equity, while UBS AG London Branch holds 17,736,000 shares, representing 7.33%[67].

Financial Performance - For the fiscal year ending December 31, 2023, Dragon King Group Holdings Limited reported total revenue of approximately HKD 104.5 million, representing a significant increase of about 31.4% compared to the previous year[15]. - The company achieved a profit of approximately HKD 1.3 million for the fiscal year 2023, recovering from a loss of approximately HKD 5.3 million in the fiscal year 2022[15]. - The company recorded total revenue of approximately HKD 104.5 million for the fiscal year 2023, a significant increase of about 31.4% compared to approximately HKD 79.5 million in fiscal year 2022[22]. - Revenue from the "Dragon Emperor" brand increased by approximately HKD 12.4 million or about 22% to HKD 68.8 million in fiscal year 2023, driven by improved customer spending and the full resumption of restaurant operations[26]. - Revenue from the "Dragon Robe" brand rose significantly by approximately HKD 13.6 million or about 61.8% to HKD 35.6 million in fiscal year 2023, attributed to improved consumer sentiment and the full resumption of operations[28]. - The group's gross profit for fiscal year 2023 was approximately HKD 74.7 million, an increase of about HKD 20.6 million or approximately 38.1% from about HKD 54.1 million in fiscal year 2022[29]. - The overall gross profit margin slightly increased by 3.5% in fiscal year 2023 due to improved operational efficiency and cost control measures[29]. - Other income and net gains decreased by approximately HKD 12.3 million or about 93.9% to approximately HKD 0.8 million in fiscal year 2023, primarily due to the absence of government subsidies[30]. - The company reported a profit attributable to owners of approximately HKD 1.3 million for the fiscal year 2023, compared to a loss of approximately HKD 5.3 million in the previous year, indicating a significant improvement driven by revenue growth[40]. Operational Developments - The overall business environment and consumer sentiment in Hong Kong improved following the easing of strict COVID-19 policies, contributing to the recovery in the restaurant industry[15]. - The company has implemented various operational streamlining measures to enhance efficiency and reduce costs in response to the recovery trend[15]. - As of December 31, 2023, the company operated three restaurants in Hong Kong, located in Wanchai, Kwun Tong, and Whampoa[15]. - The company plans to launch a new light meal brand in China, primarily using dining robots to serve customers, and will consider franchising to increase market share[16]. - The company will continue to monitor and flexibly adjust its operational strategies to meet consumer demands and enhance competitive advantages for long-term growth[16]. Financial Position and Debt - As of December 31, 2023, the company's borrowings amounted to approximately HKD 61.4 million, an increase from HKD 60.8 million in 2022, reflecting ongoing operational funding needs[44]. - The capital debt ratio as of December 31, 2023, was approximately 336.5%, up from 314.1% in 2022, indicating a higher level of debt relative to equity[46]. - The company has issued a total of 34,560,000 capitalization shares at HKD 0.1 per share to settle approximately HKD 3.456 million of debt[43]. - The company has outstanding bank and other borrowings amounting to approximately HKD 61.4 million, with financial costs of about HKD 2.6 million for the fiscal year ending 2023[190]. - The group’s net debt was approximately HKD 102.4 million, with total interest-bearing borrowings amounting to about HKD 59.4 million and cash and cash equivalents of approximately HKD 1.0 million[136]. Corporate Governance - The company emphasizes high standards of corporate governance to maintain stakeholder trust and promote accountability[96]. - The independent auditor's report expressed a disclaimer of opinion on the consolidated financial statements for the year ending December 31, 2023, due to insufficient audit evidence[84]. - The company did not establish an internal audit function during the year, which is a requirement under the corporate governance code[101]. - The board did not hold the minimum required four meetings during the year due to delays in the annual results publication and trading suspension[107]. - Following the resignation of independent non-executive directors, the company fell below the minimum number of independent directors required by GEM listing rules[101][102]. - The company has since appointed new independent non-executive directors, restoring compliance with GEM listing rules[102]. - The board is committed to reviewing its corporate governance practices regularly to ensure compliance with the GEM listing rules[106]. - The company has not made appropriate insurance arrangements for directors against potential legal actions, citing minimal risk[101]. - The company has not had a CEO since October 6, 2022, with the role being shared among all executive directors to enhance governance and shareholder interests[112]. Board Composition and Diversity - The board consists of seven members, with five males and two females, actively seeking to enhance gender diversity among board members[145]. - As of December 31, 2023, the employee gender ratio is 66 males to 56 females, with no immediate need for numerical targets for gender diversity on the board[146]. - The company has adopted a board diversity policy to ensure a diverse composition of board members, considering factors such as gender, age, experience, and cultural background[149]. - The nomination committee will consider diversity in various aspects, including gender, age, experience, and professional skills when recommending board appointments[31]. Risk Management and Internal Controls - The company is committed to maintaining a robust internal control system and risk management framework, as reviewed by the audit committee[125]. - The board has confirmed that it will continue to assess the effectiveness of the internal control system at least annually[144]. - The company has established risk management procedures to identify, assess, and mitigate significant risks affecting its objectives[144]. - The company maintains effective internal control and risk management systems to safeguard shareholder investments and group assets[142]. Environmental, Social, and Governance (ESG) - The company is committed to maintaining high standards in environmental protection, social responsibility, and governance practices[193]. - The environmental, social, and governance report reflects the company's performance in these areas for the fiscal year 2023, emphasizing transparency and accountability[195]. - The company has established a dedicated team to manage environmental, social, and governance matters, ensuring effective implementation of related policies[198]. - Stakeholder engagement is prioritized to assess and improve the company's environmental, social, and governance performance based on feedback from various parties[199].

Financial Performance - Total revenue for the fiscal year 2023 was HKD 104,453,000, representing a 31.4% increase from HKD 79,469,000 in 2022[32]. - The gross profit for fiscal year 2023 was approximately HKD 74.7 million, representing an increase of about 38.1% from approximately HKD 54.1 million in fiscal year 2022[68]. - The net loss for the year was HKD 102,379,000, slightly improved from a net loss of HKD 107,152,000 in the previous year[5]. - The group reported a profit attributable to owners of the company of HKD 1,327,000, a recovery from a loss of HKD 5,295,000 in the previous year[126]. - Total comprehensive income for the year was HKD 1,317,000, compared to a total comprehensive loss of HKD 5,004,000 in the prior year[156]. - Basic and diluted earnings per share for the fiscal year were HKD 0.71, compared to a loss per share of HKD 3.06 in the prior year[126]. Revenue Breakdown - Revenue from the "Dragon King" brand accounted for 65.9% of total revenue in 2023, up from 71.0% in 2022, while "Dragon Robe" contributed 34.1% in 2023, compared to 27.6% in 2022[32]. - The overall business environment and consumer sentiment in Hong Kong improved, leading to a recovery in the restaurant sector, which positively impacted the group's revenue in FY2023[193]. Expenses and Liabilities - Other operating expenses decreased by approximately HKD 3.3 million or about 14.9% to approximately HKD 18.9 million in fiscal year 2023, primarily due to a reduction in the number of restaurants operated[39]. - The company's rental and related expenses decreased by approximately HKD 2.5 million or about 20.7% to approximately HKD 9.6 million in fiscal year 2023[72]. - Employee benefits expenses, excluding directors and key management personnel, increased to HKD 37,178,000 from HKD 35,358,000, reflecting rising operational costs[149]. - Current liabilities exceeded current assets by approximately HKD 130 million, indicating significant uncertainty regarding the company's ability to continue as a going concern[114]. - The total current interest-bearing borrowings amounted to approximately HKD 59.4 million, while cash and cash equivalents were approximately HKD 1.0 million, highlighting liquidity challenges[114]. Strategic Initiatives - The company plans to launch a new light dining brand focused on restaurant robots in China and is considering franchising to increase market share[74]. - The company continues to monitor and flexibly adjust its operational strategies to meet consumer demands in a changing market environment[97]. - Management is exploring potential fundraising activities such as share placements to enhance the group's capital base and meet operational funding requirements[126]. - The company has considered other financing arrangements to enhance its market value and equity[15]. Legal and Compliance - The company has partially settled legal claims, with payments totaling HKD 850,000 made during the year[118]. - The company has no significant contingent liabilities as of December 31, 2023, consistent with the previous year[79]. - The company's auditor has issued a disclaimer of opinion regarding the company's ability to continue as a going concern due to the identified uncertainties[114]. Operational Overview - The company operates three full-service restaurants in Hong Kong, strategically located in prime commercial areas[30]. - The restaurant "Long Xi" did not generate revenue in the fiscal year 2023, while it generated approximately HKD 1.1 million in revenue in fiscal year 2022 before closing in January 2022[186]. - The company is actively monitoring operating costs to improve liquidity and financial conditions[168]. - The group has implemented several measures to streamline operations and enhance efficiency while reallocating resources to capitalize on growth momentum in its restaurants[193].

Financial Performance - For the three months ended September 30, 2023, the company reported revenue of HKD 25,188,000, an increase of 20.5% compared to HKD 20,875,000 for the same period in 2022[2]. - Gross profit for the three months ended September 30, 2023, was HKD 17,506,000, representing a gross margin of 69.5%, up from HKD 14,099,000 in the prior year[2]. - The company recorded a profit before tax of HKD 810,000 for the three months ended September 30, 2023, compared to a loss of HKD 4,935,000 in the same period last year[2]. - Total revenue for the nine months ended September 30, 2023, was HKD 79,513,000, a 40.1% increase from HKD 56,770,000 in the same period of 2022[7]. - The company reported a net profit attributable to owners of HKD 5,456,000 for the nine months ended September 30, 2023, compared to a loss of HKD 8,046,000 in the previous year[2]. - The group reported a pre-tax loss of HKD 28,255,000 for the nine months ended September 30, 2023, compared to HKD 28,530,000 for the same period in 2022, indicating a slight improvement[96]. - The gross profit for the nine months ended September 30, 2023, was approximately HKD 57.2 million, an increase of about HKD 18.5 million or approximately 47.9% compared to HKD 38.7 million for the same period in 2022[127]. - The overall gross profit margin slightly increased by 3.8% for the nine months ended September 30, 2023, due to improved operational efficiency and cost control measures[127]. - The company recorded a profit attributable to owners of approximately HKD 5.5 million for the period, an improvement from a loss of HKD 8.0 million for the nine months ended September 30, 2022, primarily due to increased revenue during the period[132]. Expenses and Costs - Employee costs decreased by approximately 2.9% to HKD 28,692,000 for the nine months ended September 30, 2023, from HKD 29,710,000 in the same period of 2022[20]. - Rental and related expenses decreased by approximately 24.3% to HKD 6,981,000 for the nine months ended September 30, 2023, from HKD 9,216,000 in the previous year[13]. - Other income and net gains decreased by approximately 97.3% to HKD 185,000 for the nine months ended September 30, 2023, from HKD 6,913,000 in the same period of 2022, primarily due to the absence of government subsidies[11]. - Employee benefits expenses (excluding directors and CEO remuneration) for the nine months ended September 30, 2023, were HKD 28,255,000, slightly down from HKD 28,530,000 in the same period of 2022[96]. - Other operating expenses decreased by approximately HKD 2 million or about 13.1% to approximately HKD 12.9 million for the nine months ended September 30, 2023, compared to approximately HKD 14.9 million for the same period in 2022[130]. Corporate Governance and Compliance - The company aims to maintain a strong and stable liquidity position to capitalize on future growth opportunities[27]. - The company has implemented a stock option plan to incentivize employees and directors, which was adopted on December 15, 2017[32]. - The audit committee has reviewed the financial statements and confirmed compliance with applicable accounting standards and GEM listing rules[63]. - The company has adopted the GEM Listing Rules regarding the trading standards for directors, confirming compliance during the period[151]. - The board believes that good corporate governance is key to managing the group's business and affairs, and has reviewed governance practices to align with the GEM Listing Rules[152]. - The company’s board confirmed that all information in the report is accurate and complete, with no misleading elements[66]. Legal and Contingent Liabilities - As of September 30, 2023, the company had no significant contingent liabilities, consistent with the previous year[28]. - The company is subject to a final court ruling requiring it to pay HKD 1,500,000 plus interest and legal fees, of which approximately HKD 374,000 has been paid[34]. - The company is involved in ongoing legal claims, including a judgment requiring repayment of HKD 453,200 plus interest and legal fees to Blooming (HK) Business Limited[145]. - As of September 30, 2023, the company has paid approximately HKD 850,000 related to ongoing litigation[37]. Shareholder and Capital Structure - There have been no significant changes in major shareholders' interests in the company's shares as of September 30, 2023[38]. - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[51]. - The capital structure of the group remains unchanged since its listing on the GEM on January 16, 2018, consisting solely of ordinary shares[133]. - The company has agreed to issue a total of 34,560,000 shares at a price of HKD 0.1 per share to creditors, settling approximately HKD 3,456,000 of debt[40]. Future Outlook and Strategy - The management is cautiously optimistic about the business environment for the restaurant industry in the second half of 2023, aiming to accelerate the opening of new restaurants as market conditions allow[120]. - The company plans to introduce technology to improve management efficiency and reduce reliance on labor due to labor shortages in the Hong Kong restaurant industry[120]. - As of September 30, 2023, the company had no significant investments or acquisitions planned[122]. Board Changes - The company has undergone changes in its board of directors, with several appointments and resignations effective in 2023[43][44][52][53][58]. - The company appointed a new non-executive director effective July 28, 2023, and a new company secretary effective October 1, 2023[73][75]. - The company appointed Ms. Ouyang Le Yi as an executive director effective January 4, 2023[154].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 Dragon King Group Holdings Limited 龍 皇 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：8493） 截至二零二三年九月三十日止九個月之 第三季度業績公告 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交 所上市的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在 風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於聯交所主 板買賣之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高 流通量的市場。 ...

Financial Performance - For the six months ended June 30, 2023, the group's revenue was HK$54,325,000, an increase of 51.2% compared to HK$35,895,000 for the same period in 2022[11] - Gross profit for the same period was HK$39,667,000, up 61.5% from HK$24,556,000 in 2022[11] - The group reported a profit before tax of HK$4,646,000 for the six months ended June 30, 2023, compared to a loss of HK$3,111,000 in the same period of 2022[11] - The net loss attributable to owners of the company for the six months ended June 30, 2023, was HK$885,000, an improvement from a loss of HK$9,466,000 in the same period of 2022[11] - For the six months ended June 30, 2023, the group reported a total comprehensive loss of HKD 210,044,000 as of June 30, 2023, compared to a loss of HKD 102,506,000 as of June 30, 2022, representing an increase in loss of approximately 104.5%[22] - The group’s total revenue for the six months ended June 30, 2023, was not explicitly stated in the provided documents, but the financial performance indicates a challenging operating environment[24] - For the six months ended June 30, 2023, the net other income and gains amounted to HKD 179,000, compared to HKD 2,994,000 for the same period in 2022, representing a decrease of approximately 94.0%[57] Assets and Liabilities - Trade receivables as of June 30, 2023, were HK$537,000, a decrease from HK$596,000 as of December 31, 2022[7] - Total non-current assets decreased to HK$32,341,000 as of June 30, 2023, from HK$33,729,000 as of December 31, 2022[15] - Current assets totaled HK$18,883,000 as of June 30, 2023, down from HK$21,648,000 as of December 31, 2022[15] - The group had total liabilities of HK$150,046,000 as of June 30, 2023, compared to HK$157,642,000 as of December 31, 2022[15] - The company's current liabilities exceeded its current assets by approximately HKD 131,163,000, with a net debt of about HKD 102,506,000 as of June 30, 2023[44] - The total amount of current borrowings was approximately HKD 58,900,000, while cash and cash equivalents were only about HKD 2,422,000[44] - The group’s total liabilities increased to HKD 424,000,000 as of June 30, 2023, compared to HKD 209,395,000 as of June 30, 2022, indicating a significant rise of approximately 102.5%[21] Cash Flow and Financing - For the six months ended June 30, 2023, the group reported a net cash inflow from operating activities of HKD 4,816,000, compared to HKD 4,880,000 for the same period in 2022, reflecting a decrease of approximately 1.3%[25] - The cash and cash equivalents decreased by HKD 2,663,000 during the six months ended June 30, 2023, compared to an increase of HKD 1,876,000 in the same period of 2022[25] - The group incurred a loss of HKD 7,480,000 from financing activities for the six months ended June 30, 2023, compared to a loss of HKD 5,319,000 in the same period of 2022, indicating a deterioration of approximately 40.7%[25] Employee and Operational Costs - Employee benefits expenses (excluding directors and key management personnel) totaled HKD 19,269,000 for the six months ended June 30, 2023, an increase of approximately 4.8% from HKD 18,383,000 in the same period of 2022[20] - Employee costs increased by approximately HKD 0.5 million or about 2.6% to approximately HKD 19.7 million, primarily due to the full operation of the three restaurants[90] - Rental and related expenses decreased by approximately HKD 1.6 million or about 25.4% to approximately HKD 4.7 million, attributed to a reduction in the number of restaurants operated[92] Corporate Governance and Compliance - The group has maintained compliance with all additional conditions during the reporting period[19] - The company confirmed that all directors complied with the trading standards set out in GEM Listing Rules during the six months ending June 30, 2023[150] - The unaudited condensed consolidated financial statements for the six months ending June 30, 2023, were reviewed by the audit committee and deemed to meet applicable accounting standards and GEM Listing Rules[153] Legal and Regulatory Matters - The company was ordered by the court to pay a fine of HKD 36,000 on June 29, 2023, which has been fully paid[123] - The company is required to repay a total of HKD 453,200 plus interest and legal fees to Blooming (HK) Business Limited as per the final judgment on January 19, 2022[125] - The company must repay HKD 1,500,000 plus interest and legal fees to 富比資本有限公司 following the court's final judgment on January 19, 2022[129] - The company is obligated to repay HKD 366,000 plus interest and legal fees to 陳馮吳律師事務所 as per the final judgment on February 8, 2022[130] - The company has settled a total of HKD 400,000 regarding three legal cases as of the report date[130] Business Strategy and Outlook - Management is actively reviewing and shortening the collection cycle of receivables and improving follow-up measures[44] - The company plans to implement stricter measures to improve liquidity and financial conditions, including close monitoring of operating costs[44] - The management is cautiously optimistic about the business environment for the restaurant industry in the second half of 2023, planning to accelerate the opening of new restaurants as market conditions allow[96] - The group aims to diversify its restaurant portfolio by operating various cuisines on a smaller scale, while continuously monitoring and adjusting operational strategies to meet consumer demands[96]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 Dragon King Group Holdings Limited 龍 皇 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：8493） 截至二零二三年六月三十日止六個月之 中期業績公告 龍皇集團控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董事」） 會（「董事會」）宣佈截至二零二三年六月三十日止六個月之未經審核綜合中期業 績。本公告載有本公司二零二三年中期報告全文（「二零二三年中期報告」）並遵守 香港聯合交易所有限公司GEM證券上市規則（「GEM上市規則」）中有關中期業績 初步公告隨附資料的相關規定。二零二三年中期報告的印刷本將於適當的時候按 GEM上市規則規定的方式寄發予本公司股東，並將於聯交所網站www.hkexnews.hk 及本公司網站www.dragonkinggroup.com可供查閱。 承董事會命 龍皇集團控股有限公司 ...

Financial Performance - Revenue for the three months ended March 31, 2023, was HKD 31,143,000, representing a significant increase of 131.9% compared to HKD 13,447,000 for the same period in 2022[5] - Gross profit for the same period was HKD 23,017,000, up 167.5% from HKD 8,618,000 year-on-year[5] - The company reported a profit before tax of HKD 5,531,000, a decrease of 13.0% from HKD 6,355,000 in the previous year[5] - Basic and diluted earnings per share for the period were HKD 3.20, down from HKD 3.68 in the same quarter of 2022[5] - The company's profit attributable to owners for the three months ended March 31, 2023, was HKD 5,531,000, a decrease of approximately 13.0% compared to HKD 6,355,000 for the same period in 2022[33] - The overall comprehensive income for the three months ended March 31, 2023, was HKD 5,388,000, a decrease of approximately 18.7% from HKD 6,628,000 in the same period of 2022[39] - The company reported a foreign exchange loss of HKD 143,000 for the first quarter of 2023, compared to no such loss in the same period of 2022[39] Employee Costs - Employee costs increased to HKD 9,761,000, compared to HKD 8,523,000 in the prior year, reflecting a rise of 14.5%[5] - Employee costs rose to approximately HKD 9.8 million in Q1 2023, an increase of about 15.3% from HKD 8.5 million in Q1 2022, due to the full operation of the company's three restaurants[90] - Employee costs for the three months ended March 31, 2023, amounted to approximately HKD 9.8 million, with a total of 112 employees[125] Operating Expenses - The total operating expenses, including financial costs, amounted to HKD 4,276,000, compared to HKD 4,019,000 in the previous year[5] - Operating expenses increased slightly by approximately 7.5% to about HKD 4,300,000 in the first quarter of 2023, compared to approximately HKD 4,000,000 in the first quarter of 2022, driven by higher operational costs from three restaurants[72] - Rental and related expenses increased by approximately HKD 0.4 million or 20.0% to about HKD 2.4 million in Q1 2023, due to the absence of rental concessions and government subsidies[115] Government Grants and Subsidies - The company did not recognize any government grants in the current period, compared to HKD 1,800,000 received in the same period last year related to COVID-19 subsidies[29] - Other income and net gains decreased significantly by approximately 99.8% to about HKD 3,000 for the first quarter of 2023, down from approximately HKD 1,800,000 in the first quarter of 2022, primarily due to the absence of government subsidies[70] Strategic Focus and Operations - The company continues to focus on its core business of operating and managing restaurants, with no new product launches or significant market expansions reported in this quarter[9] - The company’s strategic focus remains on enhancing customer experience and expanding its restaurant operations in prime locations[56] - The company has launched a series of dining promotions and discounts to attract customers, anticipating an improvement in the outlook for its existing restaurants[83] - The company has implemented cost control measures and improved operational performance in its restaurants, contributing to the positive financial results[92] Dividends - The company did not recommend any dividend for the three months ended March 31, 2023, consistent with no dividend declared in the same period of 2022[52] - The board of directors did not recommend any dividend payment for the three months ended March 31, 2023[99] Compliance and Governance - The company has confirmed compliance with the corporate governance code during the three months ended March 31, 2023[146] - The company has made necessary adjustments to its corporate governance practices to align with GEM Listing Rules after recent board changes[165] - The audit committee was established on December 15, 2017, and its current chairman is independent non-executive director Mr. Cui Zhiren[146] - The company has adopted the trading standards outlined in GEM Listing Rules sections 5.48 to 5.67 as a code of conduct for securities transactions by directors[146] Legal Matters - The company has received claims totaling HKD 453,200 from Blooming (HK) Business Limited for unpaid contractual amounts[151] - The company has also received a claim of HKD 1,500,000 from Fubi Capital Limited for unpaid contractual amounts[152] - The company is currently involved in litigation with Chen Fung Wu Law Firm, seeking HKD 366,000 for unpaid contractual amounts[153] - The company will make further disclosures as necessary regarding ongoing legal matters[160] Future Outlook - The group remains optimistic about the overall economic and business environment in Hong Kong for the second half of 2023, despite restaurant closures in 2022[118] - The group plans to continue maintaining prudent cost control measures and is actively seeking alternative investment opportunities to diversify its restaurant portfolio[118] - The company continues to manage its cash reserves prudently to prepare for future growth opportunities[96] Accounting Standards - The company has not applied any new accounting standards that have been issued but not yet effective, and is currently assessing their potential impact[24] - The unaudited condensed consolidated financial statements for the three months ended March 31, 2023, have been reviewed by the audit committee and are deemed to comply with applicable accounting standards and GEM Listing Rules[148] Capital Structure - The group has no major changes in its capital structure since its listing on the GEM[119] - The group has no significant plans for major investments or capital assets as of March 31, 2023[121] Currency Risks - The company has not experienced significant risks related to currency fluctuations, as most income and expenses are denominated in HKD and RMB[122]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 Dragon King Group Holdings Limited 龍 皇 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：8493） 截至二零二三年三月三十一日止三個月之 第一季度業績公告 及 恢復買賣 龍皇集團控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董事」） 會（「董事會」）宣佈本集團截至二零二三年三月三十一日止三個月之未經審核綜 合季度業績。本公告載有本公司二零二三年第一季度報告全文（「二零二三年第一 季度報告」）並遵守香港聯合交易所有限公司GEM證券上市規則（「GEM上市規則」） 中有關季度業績初步公告隨附資料的相關規定。二零二三年第一季度報告的印刷 本將於適當的時候按GEM上市規則規定的方式寄發予本公司股東，並將於聯交所 網站www.hkexnews.hk及本公司網站www.dragonkinggroup.com可供查閱。 ...