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。 ...

Financial Performance and Liabilities - The company's net loss attributable to owners for the year ended December 31, 2022, was approximately HKD 5.3 million[31] - As of December 31, 2022, the company's current liabilities exceeded its current assets by approximately HKD 136.0 million[31] - The company's net liabilities as of December 31, 2022, were approximately HKD 107.2 million[31] - The company's total current interest-bearing borrowings as of December 31, 2022, were approximately HKD 60.8 million[31] - The company's cash and cash equivalents as of December 31, 2022, were approximately HKD 4.9 million[31] - The company recorded a net loss attributable to owners of approximately HK$5,295,000 for the year ended December 31, 2022, with current liabilities exceeding current assets by approximately HK$135,994,000[118] - The company's total interest-bearing borrowings as of December 31, 2022, were approximately HK$60,771,000, with cash and cash equivalents of only HK$4,881,000[118] - The company's operating cash flow before working capital changes was a negative HKD 10.845 million in 2022, compared to a positive HKD 223 thousand in 2021[129] - The company's net cash used in operating activities was HKD 4.283 million in 2022, down from HKD 29.063 million generated in 2021[129] - Net cash from investing activities was HKD 2.316 million in 2022, slightly higher than HKD 1.969 million in 2021[129] - Net cash from financing activities was HKD 516 thousand in 2022, a significant improvement from a negative HKD 36.371 million in 2021[130] - The company's cash and cash equivalents decreased by HKD 1.451 million in 2022, less than the HKD 5.339 million decrease in 2021[130] - Total revenue for the reporting period was HKD 79,469,000, a significant decrease from HKD 224,193,000 in 2021[180] Audit and Internal Controls - The company's external auditor provided audit services costing HKD 1,500 and non-audit services costing HKD 340 during the year[31] - The company's audit committee reviewed the consolidated financial statements for the year ended December 31, 2022, and found them to comply with applicable accounting standards and GEM Listing Rules[21] - The company has not yet established an internal audit function as of December 31, 2022, but the audit committee and board of directors have reviewed the internal control review report prepared by an independent consulting firm and communicated with the external auditor regarding any significant control deficiencies identified during the financial statement audit process[36] - The company has a policy to provide guidance to directors, employees, and relevant staff to ensure appropriate safeguards are in place to prevent violations of statutory disclosure requirements, including internal controls and reporting systems to identify and assess potential insider information[37] Corporate Governance and Board Composition - The company's remuneration committee reviewed the remuneration of directors and senior management for the year ended December 31, 2022, and deemed it fair and reasonable[18] - The company's board of directors includes a balance of skills and experience, considering the nature of the group's business[11] - The company's nomination committee will disclose the board composition annually and monitor the implementation of the board diversity policy[25] Business Operations and Awards - The company operates five full-service Cantonese restaurants under its own brand in Hong Kong, focusing on providing high-quality dishes, services, and a comfortable dining environment[42] - The company has diversified its business and revenue sources over the years and has received multiple awards, including being listed in the "Michelin Guide - Hong Kong • Macau" and winning the "Best of the Best Culinary Awards"[42] Environmental, Social, and Governance (ESG) Initiatives - The company is committed to maintaining high standards in environmental protection, social responsibility, and governance, and discloses its sustainability performance transparently and publicly[67] - The company's Environmental, Social, and Governance (ESG) report reflects its performance in environmental management and social responsibility from January 1, 2022, to December 31, 2022, and is published annually to enhance transparency and accountability[68] - The company's total greenhouse gas emissions for the reporting period were 1,855 tons, with Scope 1 emissions at 14.47 tons and Scope 2 emissions at 1,802.52 tons[85] - The company implemented measures to reduce vehicle emissions, including avoiding peak traffic hours, encouraging public transport, and carpooling among employees[82] - The company's greenhouse gas emissions per unit of restaurant floor area were 0.51 tons, showing a decrease from the previous period's 0.45 tons[85] - The company has established a dedicated team to manage environmental, social, and governance (ESG) issues across its business units[93] - The company engages with stakeholders through various channels, including annual reports, meetings, and customer surveys, to address concerns and improve performance[97] - The company's ESG report includes data on emissions from vehicle use and business operations, with a focus on reducing environmental impact[80] - The company's ESG strategy includes measures to minimize environmental impact, with the board responsible for ensuring policy effectiveness[70] - The company's ESG report follows the principles of materiality, quantification, balance, and consistency as outlined by the Hong Kong Stock Exchange[71] - The company's ESG initiatives include reducing emissions from energy use, waste management, and business travel, with a focus on sustainability[84] - The company significantly reduced vehicle usage in 2022, leading to an 84% decrease in NOx emissions, a 67% decrease in SOx emissions, and a 70% decrease in PM emissions compared to the previous fiscal year[105] - The company has implemented various environmental policies and energy-saving measures in its restaurants and headquarters to mitigate climate change risks[100] - The company has established a comprehensive data collection system to strictly control greenhouse gas emissions, monitoring monthly vehicle usage for optimal efficiency[108] - The company's greenhouse gas emissions primarily come from vehicle usage, electricity consumption, gas usage, and employee business air travel[107] - The company has not violated any environmental laws or regulations in its operating regions and has not incurred significant fines, non-monetary penalties, or litigation related to environmental protection[104] - The company is focusing on reducing emissions from its operations, engaging suppliers to reduce emissions in the supply chain, and advocating for collective action to enhance business resilience[102] - The company's paper, fresh water, and sewage usage decreased by approximately 26% in 2022 compared to 2021 due to strict COVID-19 measures[140] - The company aims to reduce greenhouse gas emissions by 10% and electricity consumption by 10% by 2026/2027, using 2022/2023 as the baseline[142] - The company has implemented energy-saving measures, including regular maintenance of refrigerator insulation systems and prioritizing energy-efficient equipment in procurement[142] - The company's water consumption per unit area of restaurant property decreased from approximately 21.17 cubic meters to 20.59 cubic meters compared to the previous fiscal year[147] - The company aims to reduce water consumption by 5% by 2031/32, based on the 2022/23 benchmark[148] - Total water consumption in 2022 was 74,237 cubic meters, a significant decrease from 120,939 cubic meters in 2021[161] - The company's electricity and non-renewable fuel consumption decreased by approximately 52% in 2022 compared to the previous fiscal year[164] - The company collected a total of 468 barrels of waste cooking oil during the reporting period[159] - The company plans to implement a comprehensive data collection mechanism for food waste disposal in the future[158] - The company continues to upgrade equipment, such as purchasing energy-efficient appliances and LED lighting, to improve energy efficiency[148] - The company promotes water conservation through signage and reminders in kitchens, restrooms, and offices[160] - The company's goal is to improve energy efficiency and integrate low-carbon processes throughout its operations[145] - The company has established a waste management system to classify and recycle non-hazardous waste, such as paper and packaging materials[143] - The company achieved a 10% reduction in greenhouse gas emissions compared to the previous period through optimized production processes[165] - Total packaging material consumption decreased from 3.98 tons in 2021 to 2.00 tons in 2022, with plastic bag usage dropping from 1.52 tons to 0.18 tons[180] - Energy consumption decreased significantly from 6,953,983 kWh in 2021 to 3,315,597 kWh in 2022, with non-renewable fuel consumption dropping from 2,092,006 kWh to 777,552 kWh[178] - Water consumption density per restaurant property floor area decreased from 1,217.51 kWh to 919.52 kWh[178] - The company implemented various energy-saving measures, including upgrading energy-efficient electrical equipment and promoting double-sided printing[166] Employee Relations and Safety - The company employed 121 full-time employees from Hong Kong, with 94 employees leaving subsidiaries due to restructuring and personal reasons[173] - No fatal or serious injury accidents were recorded in the past three years, with no compensation paid for such incidents[177] - The company focuses on providing a safe working environment and comprehensive employee development, adhering to labor laws and offering competitive compensation packages[185] - The company has established internal procedures to ensure compliance with labor standards, including strict recruitment processes to avoid child or forced labor[186] - The company maintains a low employee turnover rate and fosters harmonious labor relations to enhance productivity[186] - The company operates a robust occupational health and safety management system, ensuring high safety standards in its restaurants[189] - The company conducts regular risk assessments and operational checks to identify and mitigate risks, maintaining a low accident and injury rate[190] Supply Chain and Quality Control - The company sources food from 12 approved suppliers in Hong Kong, ensuring stable and high-quality raw material supply[196] - The company implements a quality control system emphasizing food safety, hygiene, and restaurant cleanliness[199] - The company provides ongoing training to kitchen staff on food preparation, hygiene, and quality control procedures[200] - The company maintained a diverse supplier base to mitigate risks from extreme weather events that could disrupt the supply chain[169] Shareholder Communication and Investor Relations - The company communicates with shareholders through various channels, including annual general meetings and special general meetings, providing a platform for shareholders to express opinions and exchange views with directors and senior management[39] - The company promotes investor relations and enhances communication with existing shareholders and potential investors, welcoming feedback from investors, stakeholders, and the public[65] - The company has adopted a shareholder communication policy to ensure timely and unbiased access to company information[87] Compliance and Risk Management - The company maintains an effective internal control and risk management system, including clear organizational arrangements and comprehensive monitoring procedures to protect shareholder investments and company assets[58] - The company has established an insider information disclosure policy, detailing procedures and internal controls for handling and disseminating insider information[62] - The company strictly adhered to Hong Kong's noise control regulations and implemented noise reduction measures for air conditioning and ventilation systems[182] - The company maintains low greenhouse gas emissions and minimal energy consumption, reducing transition risks related to regulatory changes and customer preferences[185] - The company has a dedicated team to identify climate-related risks and opportunities, ensuring compliance with regulations and minimizing operational impacts[185] Accounting Standards and Financial Reporting - The company's board of directors expects that the application of new and revised Hong Kong Financial Reporting Standards will not have a significant impact on the company's performance and financial position[112]

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） 截至二零二二年十二月三十一日止年度之 年度業績公告 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 three months ended September 30, 2022, the company reported revenue of HKD 20,875,000, a decrease of 67.4% compared to HKD 64,085,000 in the same period last year[6]. - The gross profit for the same period was HKD 14,099,000, down 65.7% from HKD 41,123,000 year-on-year[6]. - The company incurred a loss before tax of HKD 4,935,000 for the three months ended September 30, 2022, compared to a loss of HKD 10,533,000 in the previous year, representing a 53.2% improvement[6]. - For the nine months ended September 30, 2022, total revenue was HKD 56,770,000, a decline of 67.6% from HKD 175,038,000 in the same period last year[6]. - The net loss attributable to owners of the company for the nine months was HKD 8,046,000, compared to HKD 19,316,000 in the previous year, indicating a 58.3% reduction in losses[6]. - The basic and diluted loss per share for the three months was HKD (2.86), compared to HKD 7.21 in the same period last year[6]. - Basic loss per share for the nine months ended September 30, 2022, was HKD (4.66), an improvement from HKD (13.35) for the same period in 2021[31]. Revenue Breakdown - Revenue from Chinese restaurants for the nine months ended September 30, 2022, was HKD 56,770,000, a decrease of 67.6% compared to HKD 175,038,000 for the same period in 2021[18]. - Revenue from Hong Kong and Macau for the three months ended September 30, 2022, was HKD 20,875,000, compared to HKD 58,213,000 for the same period in 2021, representing a decline of 64.1%[18]. - Revenue from the "Dragon Emperor" brand decreased by approximately HKD 67.4 million or about 62.0% to approximately HKD 41.3 million for the nine months ended September 30, 2022, primarily due to stricter pandemic measures[43]. - Revenue from the "Dragon Seal" brand dropped by approximately HKD 25.1 million or about 95.7% to approximately HKD 1.1 million, mainly due to the closure of the Global Trade Square branch[44]. - Revenue from the "Dragon Robe" brand decreased by approximately HKD 3.9 million or about 21.2% to approximately HKD 14.6 million, attributed to stricter pandemic measures affecting the dining industry[45]. Cost Management - Employee costs for the three months were HKD 10,545,000, down 59.0% from HKD 25,764,000 year-on-year[6]. - The group’s employee benefits expenses (excluding directors and CEO remuneration) for the nine months ended September 30, 2022, were HKD 27,314,000, down 57.3% from HKD 63,594,000 for the same period in 2021[25]. - Employee costs for the nine months ended September 30, 2022, were approximately HKD 29.7 million, a significant decrease of about HKD 41.9 million or approximately 59.5% compared to HKD 71.6 million for the same period in 2021[51]. - Rental and related expenses decreased by approximately HKD 9.3 million or about 50.3% to approximately HKD 9.2 million for the nine months ended September 30, 2022, due to a reduction in the number of restaurants operated[54]. - Other operating expenses decreased by approximately HKD 16.2 million or about 52% to approximately HKD 14.9 million for the nine months ended September 30, 2022, also due to a reduction in the number of restaurants operated[55]. Government Support - The group recognized government subsidies related to COVID-19 amounting to HKD 6,353,000 for the nine months ended September 30, 2022, compared to HKD 4,200,000 for the same period in 2021, an increase of 51.2%[23]. Operational Challenges - The group closed the New Peking branch in July 2022, further impacting its operational capacity[38]. - The group is adopting a conservative approach to operations due to the economic downturn in Hong Kong and ongoing COVID-19 challenges[57]. - Employee costs and food costs remain relatively high, putting pressure on the group to balance cost control with food and service quality[59]. - The group is negotiating rent reductions with landlords due to restrictions on restaurant operations, but landlords are unwilling to offer substantial rent discounts[59]. - The group is implementing a series of cost-saving measures and emergency plans to cope with the adverse operating environment caused by COVID-19[59]. Compliance and Governance - The company failed to comply with GEM Listing Rules regarding the number of independent non-executive directors after the resignation of two directors on October 31, 2022[95]. - The company is actively seeking suitable candidates to fill the vacancies to comply with GEM Listing Rules[95]. - All directors confirmed compliance with the trading standards as per GEM Listing Rules during the nine months ending September 30, 2022[98]. - The company has complied with the corporate governance code as of September 30, 2022, except for the combined roles of Chairman and CEO held by Mr. Chan since July 13, 2021[99]. - The audit committee, established on December 15, 2017, is chaired by independent non-executive director Mr. Wong, ensuring compliance with GEM Listing Rules[101]. - The unaudited consolidated financial statements for the nine months ended September 30, 2022, have been reviewed and deemed compliant with applicable accounting standards and GEM Listing Rules[103]. Legal Matters - The company is required to repay a total of HKD 366,000 along with interest and legal fees as per the final judgment on February 8, 2022[80]. - Long Wong Restaurant Group Limited must repay HKD 334,000 plus interest and legal fees as per the final judgment on May 11, 2022[81]. - The company’s subsidiary, Dongfang E-commerce Limited, is ordered to repay HKD 2,000,000 along with interest and legal fees as per the final judgment on May 11, 2022[83]. - The company and its subsidiary, Qigang Limited, are facing a claim for HKD 2,117,469.59 for unpaid principal and default interest as per the summons received on May 11, 2022[84]. - Qigang is facing a claim for HKD 177,996 plus interest and legal fees as per the summons received on July 26, 2022[86]. - The company has filed a defense in response to the summons related to the claims mentioned above[85][89]. Investment Activity - The company has not made any significant investments, acquisitions, or disposals of subsidiaries or associated companies as of September 30, 2022[62]. - The company has not purchased, sold, or redeemed any of its listed securities in the nine months ending September 30, 2022[94]. Future Outlook - The group is preparing to leverage future growth opportunities while maintaining a strong and stable liquidity position[65].

Financial Performance - For the six months ended June 30, 2022, the company reported total revenue of HK$35,895, a decrease of 67.6% compared to HK$110,953 for the same period in 2021[6] - The gross profit for the same period was HK$24,556, down 67.2% from HK$74,757 in 2021[6] - The company incurred a loss attributable to owners of HK$3,111 for the six months ended June 30, 2022, compared to a loss of HK$8,783 in the same period of 2021[6] - The total comprehensive loss for the six months was HK$8,484, compared to HK$2,838 in 2021, indicating a significant increase in losses[8] - The net cash generated from operating activities for the six months ended June 30, 2022, was HKD 4,880,000, a decrease of 75.1% compared to HKD 19,429,000 for the same period in 2021[15] - The group recorded a loss attributable to owners of the company of HKD 3,111,000 due to significant adverse impacts from the COVID-19 pandemic[22] - The group reported a net loss attributable to shareholders of HKD 9,466,000 for the three months ended June 30, 2022, compared to a loss of HKD 3,775,000 in the same period of 2021[42] - The group’s total other income and net gains for the six months ended June 30, 2022, amounted to HKD 4,826,000, a decrease of 45.5% compared to HKD 8,852,000 for the same period in 2021[33] - The group’s employee benefits expenses (excluding directors and key management personnel) for the six months ended June 30, 2022, were HKD 17,604,000, down from HKD 40,628,000 in the same period of 2021, a decrease of 56.6%[36] - Employee costs for the group were approximately HKD 19.2 million, a decrease of about HKD 26.6 million or 58.2% compared to HKD 45.8 million for the same period in 2021[82] Assets and Liabilities - As of June 30, 2022, the company's non-current assets totaled HK$32,843, a decrease from HK$34,227 as of December 31, 2021[10] - Current assets decreased to HK$24,547 from HK$30,861 at the end of 2021, reflecting a decline in liquidity[10] - The company's total liabilities amounted to HK$153,693, down from HK$161,088 at the end of 2021, indicating a reduction in financial obligations[10] - The company reported a net asset deficit of HK$104,986 as of June 30, 2022, compared to HK$102,148 at the end of 2021[11] - As of June 30, 2022, the group's current liabilities exceeded current assets by approximately HKD 129,146,000, with total current borrowings of about HKD 56,672,000 and cash and cash equivalents of approximately HKD 8,208,000[22] - Trade receivables as of June 30, 2022, were HKD 1,575,000, a decrease from HKD 3,739,000 as of December 31, 2021, indicating a decline of 57.8%[45] - Trade payables as of June 30, 2022, amounted to HKD 36,055,000, an increase from HKD 30,534,000 as of December 31, 2021[13] - As of June 30, 2022, the group's debt was approximately HKD 56.7 million, down from HKD 60.6 million as of December 31, 2021[91] - The capital debt ratio as of June 30, 2022, was approximately 315.4%, an increase from 274.8% as of December 31, 2021[92] Business Operations - The company continues to explore new strategies for market expansion and product development to improve future performance[6] - The company faced a challenging business environment due to the fifth wave of COVID-19 in Hong Kong, which led to stricter dine-in restrictions and social distancing measures[65] - The company closed its Global Trade Square branch due to lease expiration and decided not to renew the lease for the Causeway Bay branch, focusing resources on remaining restaurants[67] - The company closed its San Po Kong branch in July 2022 due to poor performance, currently operating only the Wanchai, Kwun Tong, and Whampoa branches[107] - The group plans to delay the opening of new branches or close underperforming ones as part of cost control measures to improve operational performance and cash flow[23] - Management is actively negotiating with banks for new financing arrangements to ensure sufficient funds for operational and financial needs[23] - The group will continue to negotiate rent concessions with landlords due to a decrease in customer numbers caused by the pandemic[23] Revenue Breakdown - Revenue from Chinese restaurants for the six months ended June 30, 2022, was HKD 110,953,000, a decrease of 36.5% compared to HKD 174,848,000 for the same period in 2021[29] - Total revenue for the three months ended June 30, 2022, was HKD 22,448,000, down from HKD 61,804,000 in the same period of 2021, representing a decline of 63.7%[29] - Revenue for the Dragon Emperor brand decreased by approximately HKD 42.3 million or 61.3% to about HKD 26.6 million for the six months ended June 30, 2022, compared to HKD 68.9 million for the same period in 2021[73] - Revenue for the Dragon Seal brand dropped by approximately HKD 14.0 million or 93.1% to about HKD 1.0 million for the six months ended June 30, 2022, primarily due to the closure of a store in Global Trade Square[75] - Revenue for the Dragon Robe brand decreased by approximately HKD 3.4 million or 28.7% to about HKD 8.2 million for the six months ended June 30, 2022, attributed to stricter pandemic measures affecting the restaurant business[76] - Total revenue for the group was HKD 35.9 million for the six months ended June 30, 2022, down from HKD 110.9 million in the same period of 2021[72] - Gross profit for the group was approximately HKD 24.6 million, a decrease of about HKD 50.2 million or 67.2% compared to HKD 74.8 million for the same period in 2021[79] Legal and Compliance - The company has faced several legal claims, including a total of HKD 1,500,000 sought by Fu Bi Capital Limited and HKD 2,000,000 by Eastern Electronic Commerce Limited, with final judgments requiring repayment[112][116] - The company has entered into non-binding memoranda of understanding regarding potential acquisitions, but no formal agreements have been established as of the report date[108] - The company maintains a prudent treasury policy to manage cash reserves and ensure readiness for future growth opportunities[98] - The company did not recommend any interim dividend for the six months ended June 30, 2022, consistent with the previous year[41] - The board did not recommend any interim dividend for the six months ended June 30, 2022, consistent with the previous year[101] - The company has not applied any new or revised standards that have been issued but not yet effective, and is currently assessing their potential impact[20] - The company completed a share placement on July 28, 2021, issuing 28,800,000 shares at HKD 0.208 per share, resulting in net proceeds of HKD 5,735,000 after transaction costs[50] - The company’s directors and key executives received total compensation of HKD 399,000 for the three months ended June 30, 2022, compared to HKD 1,788,000 for the same period in 2021[61] - The company did not purchase any property, plant, and equipment for the six months ended June 30, 2022, compared to approximately HKD 1,000,000 in the same period of 2021[44] - The group has no significant foreign exchange risk, with most income and expenses denominated in Hong Kong dollars and Renminbi, and no financial instruments were used for hedging purposes during the six months ended June 30, 2022[97] - The group has not reported any significant contingent liabilities or commitments as of June 30, 2022[99][100] Governance - The company’s management discussed the impact of COVID-19 on financial performance, highlighting a significant revenue decline due to ongoing pandemic-related restrictions[64] - The company’s capital increased by HKD 2,880,000 following the share placement, with a share premium of HKD 2,855,000[50] - The company’s management is committed to ensuring compliance with GEM listing rules and has taken steps to address previous violations[128] - The audit committee chairman is an independent non-executive director, ensuring compliance with GEM listing rules[132] - The company has complied with GEM listing rule 5.28, with audit committee members possessing appropriate professional qualifications[134] - The company’s directors and key executives have no equity interests or short positions in the company’s shares as of June 30, 2022[125]

Financial Performance - Revenue for the three months ended March 31, 2022, was HKD 13,447,000, a decrease of 72.6% compared to HKD 49,149,000 for the same period in 2021[7] - Gross profit for the same period was HKD 8,618,000, down from HKD 32,736,000 in 2021, reflecting a significant decline in profitability[7] - The company reported a profit before tax of HKD 6,355,000, compared to a loss of HKD 5,008,000 in the previous year, indicating a turnaround in financial performance[7] - Basic and diluted earnings per share for the period were HKD 3.68, compared to a loss per share of HKD 3.48 in the same quarter of 2021[7] - Total comprehensive income for the period was HKD 6,628,000, compared to a loss of HKD 5,115,000 in the prior year, showing improved overall financial health[10] - The company reported a net profit attributable to shareholders of HKD 6,355,000 for the three months ended March 31, 2022, compared to a loss of HKD 5,008,000 in the same period of 2021[35] Revenue and Income Sources - Revenue from customer contracts for the three months ended March 31, 2022, was HKD 13,447,000, a decrease from HKD 49,149,000 in the same period of 2021, representing a decline of approximately 72.6%[20] - Other income and net gains for the three months ended March 31, 2022, included government subsidies of HKD 1,800,000, down from HKD 4,200,000 in the same period of 2021, reflecting a decrease of 57.1%[26] - Other income and net gains decreased by approximately HKD 5.7 million or about 75.5% to approximately HKD 1.8 million, mainly due to reduced government subsidies and the absence of rental concessions[72] Cost Management - The cost of goods sold was HKD 4,829,000, significantly lower than HKD 16,413,000 in the previous year, contributing to improved gross margins[7] - Employee costs for the quarter were HKD 8,523,000, an increase from HKD 7,476,000 in the same period last year, reflecting rising operational costs[7] - Employee benefit expenses (excluding directors and CEO remuneration) were HKD 8,140,000 for the three months ended March 31, 2022, compared to HKD 20,958,000 in the same period of 2021, indicating a reduction of approximately 61.1%[28] - Employee costs for the three months ended March 31, 2022, were approximately HKD 8.5 million, a decrease of about HKD 14.1 million or approximately 62.2% compared to HKD 22.6 million for the same period in 2021[73] Operational Challenges - The group continues to focus on managing its restaurant operations effectively amidst market challenges[14] - The group has temporarily suspended operations of its restaurants in February and March 2022 due to the ongoing COVID-19 situation[59] - The restaurant industry faces severe business conditions, including a slowdown in economic growth and weakened consumer sentiment due to COVID-19[80] - Employee and food costs remain relatively high, putting pressure on the group to balance cost control with food and service quality[80] - The group is negotiating rent reductions with landlords due to operational restrictions, but landlords are unwilling to offer significant discounts[80] - A series of cost-saving measures and contingency plans have been implemented to cope with the adverse operating environment caused by COVID-19[80] Strategic Decisions - The company has sold its subsidiary, Longxi Shanghai, and no longer operates in China, which may impact future revenue streams[21] - The group closed its Global Trade Square branch due to lease expiration and decided not to renew the Causeway Bay branch lease, focusing resources on remaining restaurants[59] - The group plans to continuously assess the overall market situation and balance the expansion of restaurants with the closure of underperforming locations[80] - The group closed the New Pung Keng branch in July 2022 due to poor performance, currently operating only in Wan Chai, Kwun Tong, and Whampoa[86] Compliance and Governance - The company did not incur any income tax expenses for the period, maintaining a tax-efficient structure[7] - The company’s tax expenses for the reporting periods were calculated based on the two-tiered profits tax rate system, with the first HKD 2,000,000 of profits taxed at 8.25%[29] - The company confirmed compliance with all conditions related to COVID-19 related government subsidies for the reporting period[26] - The company’s unaudited condensed consolidated financial statements for the three months ended March 31, 2022, have been reviewed by the audit committee and comply with applicable accounting standards and GEM listing rules[108] Shareholder Information - The company did not recommend any dividend for the three months ended March 31, 2022, consistent with the previous year[34] - The weighted average number of shares for the three months ended March 31, 2022, was 172,800,000 shares, an increase from 144,000,000 shares in the same period of 2021[35] - No stock options were granted, exercised, or expired during the three months ending March 31, 2022[85] - The group has not purchased, sold, or redeemed any listed securities during the three months ending March 31, 2022[82] - The trading of the company's shares has been suspended since November 11, 2021, pending compliance with the relevant guidelines for resumption of trading[110] Future Outlook - The company is currently evaluating the impact of new accounting standards but has not identified any significant financial effects on its operations[16] - The group adopts a conservative approach to operations due to the economic downturn in Hong Kong and ongoing COVID-19 challenges[80] - The group is in discussions regarding potential acquisitions but has not entered into any formal agreements as of the report date[88] - The group decided not to declare any dividends for the three months ended March 31, 2022[79] - The group is negotiating rent reductions with landlords due to operational restrictions, but landlords are unwilling to offer significant discounts[80]