Financial Performance - For the six months ended June 30, 2019, the group reported a revenue of HKD 215,672,000, an increase from HKD 208,395,000 in the same period of 2018, representing a growth of approximately 3.1%[10] - The gross profit for the six months ended June 30, 2019, was HKD 147,931,000, compared to HKD 141,914,000 in 2018, reflecting a growth of about 4.3%[10] - The net loss attributable to equity holders for the three months ended June 30, 2019, was HKD 10,023,000, an improvement from a loss of HKD 14,152,000 in the same period of 2018, indicating a reduction in loss of approximately 29.8%[10] - The company reported a loss before tax of HKD 9,858,000 for the three months ended June 30, 2019, which is an improvement from a loss of HKD 14,015,000 in the same period of 2018, representing a decrease in loss of approximately 29.0%[10] - The total comprehensive loss for the six months ended June 30, 2019, was HKD 9,760,000, compared to HKD 21,581,000 in 2018, indicating a significant improvement of approximately 54.8%[20] - The group reported a loss attributable to equity holders of the company of HKD 9,500,000 for the six months ended June 30, 2019, compared to a loss of HKD 22,063,000 for the same period in 2018, representing a 57.0% improvement[65] Revenue and Market Performance - For the three months ended June 30, 2019, the operating revenue was HKD 98,645,000, an increase of 5.3% compared to HKD 93,155,000 for the same period in 2018[50] - Revenue from the Hong Kong and Macau market for the six months ended June 30, 2019, was HKD 195,920,000, representing an increase of 5.7% from HKD 186,567,000 in 2018[50] - Revenue from the "Dragon Emperor" brand decreased by approximately HKD 5.7 million or about 4.4% to approximately HKD 123.7 million, primarily due to the closure of an old restaurant and social unrest affecting consumer confidence[93] - Revenue from the "Dragon Seal" brand increased by approximately HKD 6.9 million or about 26.4% to approximately HKD 33.0 million, driven by an increase in the number of banquets[95] Expenses and Costs - The group incurred total operating expenses of HKD 74,577,000 for the six months ended June 30, 2019, compared to HKD 72,838,000 in 2018, showing an increase of about 2.4%[10] - The group’s employee costs for the six months ended June 30, 2019, were HKD 74,577,000, an increase from HKD 72,838,000 in 2018, representing a rise of about 2.4%[10] - The group’s employee benefits expenses, excluding directors and key management personnel, totaled HKD 33,159,000 for the six months ended June 30, 2019, compared to HKD 29,621,000 in 2018, marking a 11.5% increase[56] - Other operating expenses slightly increased by approximately HKD 0.5 million or about 1.5% to approximately HKD 33.4 million, primarily due to increased marketing and promotional expenses[105] Assets and Liabilities - Non-current assets increased significantly to HKD 193,474,000 as of June 30, 2019, compared to HKD 97,123,000 as of December 31, 2018, reflecting a growth of 99%[21] - Current assets totaled HKD 103,713,000, a slight increase from HKD 100,537,000 in the previous period, indicating a growth of 2.2%[21] - Total liabilities increased to HKD 162,340,000 from HKD 140,921,000, representing a rise of 15.2%[21] - The group’s current liabilities exceeded current assets by approximately HKD 58,627,000 as of June 30, 2019, primarily due to interest-bearing bank borrowings of about HKD 46,882,000[40] - The total equity decreased to HKD 43,463,000 from HKD 53,223,000, reflecting a decline of 18.3%[23] - Non-current liabilities surged to HKD 91,384,000 from HKD 3,516,000, indicating a substantial increase of 2,594%[23] Cash Flow and Financing - The net cash generated from operating activities was HKD 10,892,000, a significant improvement from a cash outflow of HKD 32,703,000 in the previous year[28] - The company reported a net cash inflow from investing activities of HKD 10,246,000, compared to a cash outflow of HKD 14,788,000 in the previous year[28] - Financing activities resulted in a net cash outflow of HKD 4,065,000, a decrease from a net inflow of HKD 79,504,000 in the previous year[28] - As of June 30, 2019, the group had cash and cash equivalents of approximately HKD 34.9 million, an increase from approximately HKD 18.0 million as of December 31, 2018, reflecting improved liquidity[122] - The group’s debt as of June 30, 2019, was approximately HKD 46.9 million, down from approximately HKD 50.5 million as of December 31, 2018, indicating a reduction in leverage[122] Corporate Governance and Compliance - The board believes that good corporate governance is a key element in managing the company's business and affairs, and it has complied with the corporate governance code during the reporting period[155] - The company has adopted the GEM Listing Rules regarding securities trading standards for its directors, confirming full compliance during the reporting period[151] - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2019, and found them to comply with applicable accounting standards and GEM Listing Rules[159] - The audit committee's main responsibilities include reviewing financial information, internal control procedures, and risk management systems[157] Future Plans and Strategies - The group plans to utilize approximately HKD 20.6 million of the net proceeds for multi-brand expansion in Hong Kong, with HKD 3.0 million remaining unutilized as of June 30, 2019[118] - The group aims to balance the expansion of new outlets with the closure of underperforming locations in response to market conditions[109] - The group will increase promotional activities and seasonal menu offerings to maintain competitiveness amid challenging market conditions[109] - The group has committed to refurbishing existing restaurant facilities to attract new and returning customers[115]

Financial Performance - For the three months ended March 31, 2019, the Group reported revenue of HKD 117,027,000, a slight increase of 1.55% compared to HKD 115,240,000 in the same period of 2018[5]. - Gross profit for the same period was HKD 80,029,000, up from HKD 79,027,000, reflecting a gross margin improvement[5]. - The Group's net profit attributable to owners for the period was HKD 523,000, a significant recovery from a loss of HKD 7,911,000 in the previous year[5][8]. - Basic and diluted earnings per share for the period were HKD 0.04, compared to a loss per share of HKD 0.57 in the same quarter of 2018[5]. - The total comprehensive income for the period was HKD 430,000, compared to a loss of HKD 7,863,000 in the previous year[8]. - The total revenue for the three months ended March 31, 2019, was approximately HKD 117.0 million, a slight decrease of about HKD 1.8 million or 1.6% compared to HKD 115.2 million for the same period in 2018[57]. - The gross profit for the three months ended March 31, 2019, was approximately HKD 80.0 million, an increase of about HKD 1.0 million or 1.3% from HKD 79.0 million for the same period in 2018[66]. Cost Management - The Group's employee costs decreased to HKD 39,912,000 from HKD 41,951,000, indicating improved cost management[5]. - Other operating expenses were reduced to HKD 14,470,000 from HKD 17,528,000, contributing to the overall profitability[5]. - The group reported a decrease in employee benefits expenses, totaling HKD 37,385 thousand for the three months ended March 31, 2019, down from HKD 40,385 thousand in 2018, indicating a reduction of 7.4%[34]. - Rental and related expenses decreased from approximately HKD 18.8 million to HKD 9.6 million, a reduction of about 49.0%[71]. - Other operating expenses decreased from approximately HKD 17.5 million to HKD 14.5 million, a reduction of about 17.4%[72]. Financing and Investments - The Group incurred financing costs of HKD 566,000, up from HKD 437,000, reflecting increased borrowing costs[5]. - The Group's depreciation of property, plant, and equipment increased to HKD 4,505,000 from HKD 3,983,000, indicating ongoing investment in assets[5]. - The net proceeds from the share issuance amounted to approximately HKD 37.3 million after deducting underwriting commissions and actual expenses[81]. - As of March 31, 2019, approximately HKD 30.2 million of the net proceeds had been utilized, with the remaining balance held in licensed banks in Hong Kong[83]. Business Strategy and Operations - The Group continues to focus on expanding its restaurant operations in Hong Kong, Macau, and mainland China, aiming for market growth[15]. - The company plans to expand its business through a multi-brand strategy in Hong Kong, having opened new restaurants under the "Dragon King" and "Dragon Feast" brands[79]. - The company aims to enhance brand awareness through increased advertising efforts across traditional and online platforms[79]. - The company will continue to improve existing restaurant facilities to attract new and returning customers[79]. - The company will adjust its business strategies in response to market changes, balancing store expansions with the closure of underperforming locations[77]. Shareholder Information - As of March 31, 2019, Wanli Development Limited holds 578,880,000 shares, representing a 40.2% stake in the company[89]. - Good Vision Limited and its controlled entities collectively own 237,600,000 shares, accounting for 16.5% of the company's shares[89]. - Wise Alliance Limited holds 108,000,000 shares, which is 7.5% of the total shares outstanding[91]. - The total number of shares held by major shareholders indicates a concentrated ownership structure, with the top three shareholders holding over 74% of the shares[89]. - The company reported no significant changes in shareholder equity or major transactions during the quarter[98]. - No other individuals or entities, apart from those disclosed, held or were deemed to hold 10% or more of the company's shares as of March 31, 2019[97]. Compliance and Governance - The company has adopted the trading standards outlined in GEM Listing Rules, confirming full compliance by all directors since the listing date on January 16, 2018[101]. - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ended March 31, 2019, ensuring compliance with applicable accounting standards and listing rules[106]. - The company believes that good corporate governance is a key element in managing its business, and it has complied with the corporate governance code as of March 31, 2019[104]. - The company has not engaged in any business that constitutes competition or potential competition with its group business as of March 31, 2019[99]. Dividends and Share Options - The company did not recommend the distribution of dividends for the three months ended March 31, 2019[39]. - The board does not recommend any dividend payment for the period ending March 31, 2019[76]. - No share options were granted, exercised, expired, or lapsed under the share option scheme as of March 31, 2019, indicating no outstanding unexercised options[102]. Revenue by Brand - The revenue generated by the "Dragon Emperor" brand decreased by approximately HKD 2.7 million or 3.7% to about HKD 69.956 million for the three months ended March 31, 2019[60]. - The revenue from the "Dragon Seal" brand increased by approximately HKD 3.1 million or 22.2% to about HKD 17.315 million for the three months ended March 31, 2019[61]. - The revenue from the "Dragon Robe" brand was approximately HKD 8.0 million for the three months ended March 31, 2019, as it began operations in August 2018[63]. - The revenue from the "Dragon Banquet" brand decreased by approximately HKD 5.7 million or 32.9% to about HKD 11.534 million for the three months ended March 31, 2019[65].

Financial Performance - The group's revenue slightly decreased by 0.8% from HKD 418.5 million in 2017 to approximately HKD 415.0 million in 2018[12]. - The group recorded a significant loss attributable to owners of approximately HKD 58.1 million, primarily due to factors such as decreased consumer sentiment from the US-China trade war and operational losses from newly opened restaurants[12]. - The group recorded total revenue of approximately HKD 415.0 million for the year ended December 31, 2018, a slight decrease of about HKD 3.5 million or approximately 0.8% compared to HKD 418.5 million for the year ended December 31, 2017[27]. - Revenue from the "Dragon Emperor" brand decreased by approximately HKD 4.7 million or about 1.9% to approximately HKD 251.7 million, primarily due to the closure of the Wanchai branch and the relocation of the new Wanchai branch under the "Dragon Robe" brand[30]. - Revenue from the "Dragon Seal" brand increased by approximately HKD 5.2 million or about 9.4% to approximately HKD 60.4 million, mainly due to an increase in the number of banquets[31]. - The overall gross profit was approximately HKD 280.4 million, a decrease of about HKD 6.6 million or approximately 2.3% compared to HKD 287.0 million for the previous year, with the gross profit margin slightly declining from approximately 68.6% to 67.6%[36]. - The group recorded a loss attributable to owners of approximately HKD 58.1 million for the year ended December 31, 2018, compared to a loss of approximately HKD 10.2 million for the year ended December 31, 2017, indicating a significant increase in losses[48]. Operational Changes - The group opened a new "Dragon King" restaurant in Kwai Chung and relocated the "Dragon King" restaurant in Wan Chai to a new location under the "Dragon Robe" brand[11]. - The group plans to enhance its marketing efforts and regularly introduce promotional menus and seasonal dishes to maintain competitive advantage[13]. - The group will continue to monitor its cost structure and reduce expenses to improve efficiency and ultimately create more value for shareholders[18]. - The group aims to strengthen and diversify its own brands, believing that brand recognition along with quality dishes and service is key to operational success[16]. - The group will adjust its business strategies in response to market changes and evaluate overall market conditions for future expansion[13]. - The group faced challenges in the operating environment, including increased rental and labor costs, impacting overall business stability[11]. - The group aims to balance the expansion of new branches with the closure of underperforming ones in response to market conditions[49]. Employee and Management - Employee costs increased by approximately HKD 18.7 million or about 14.2% to approximately HKD 150.1 million, mainly due to one-time discretionary bonuses and wages for the new branches[38]. - The group will enhance its management team and increase training for all employees, particularly in environmental awareness and waste recycling[17]. - The company had 650 employees as of December 31, 2018, an increase from 600 employees in 2017[73]. - The total employee cost for the year ended December 31, 2018, was approximately HKD 150.1 million, compared to HKD 131.4 million in 2017[73]. Financial Position - As of December 31, 2018, the group had bank borrowings of approximately HKD 50.5 million, an increase from approximately HKD 48.5 million in 2017[62]. - The group had cash and cash equivalents of approximately HKD 18.0 million as of December 31, 2018, compared to approximately HKD 15.9 million in 2017[62]. - As of December 31, 2018, the company's debt-to-equity ratio was approximately 70.0%, up from 66.0% in 2017[63]. - The company's operating lease commitments amounted to approximately HKD 157.7 million as of December 31, 2018, down from HKD 175.4 million in 2017[71]. Corporate Governance - The board has emphasized the importance of corporate governance, ensuring compliance with regulations and maintaining stakeholder trust[116]. - The board of directors consists of three executive directors and three independent non-executive directors, ensuring a balance of skills and experience[121]. - The independent non-executive directors have confirmed their independence, complying with GEM listing rules[123]. - The remuneration committee reviewed the compensation of directors and senior management, deeming it fair and reasonable as of December 31, 2018[132]. - The audit committee held four meetings during the year to review the company's annual and interim results, as well as internal control procedures[135]. - The nomination committee evaluates the composition and independence of the board, considering diversity factors such as gender and industry experience[134]. - The company emphasizes the importance of continuous professional development for directors, ensuring they stay updated on corporate governance practices[130]. - The roles of the chairman and CEO are separated to maintain a balance of power within the board[126]. - The company has established clear written terms of reference for all board committees, which are available on the stock exchange and company websites[131]. - The board is committed to adhering to corporate governance codes and regularly reviews its policies and practices[135]. Environmental and Social Responsibility - The company aims to maintain high standards in environmental protection and social responsibility, with annual disclosures of its performance in these areas[182]. - The environmental, social, and governance report is prepared in accordance with GEM listing rules and summarizes the group's performance during the reporting period from January 1, 2018, to December 31, 2018[183]. - In 2018, the group reported a total indirect CO2 emissions of 4,271 tons from energy use, a decrease of approximately 4% compared to 4,438 tons in 2017[200]. - The group generated NOx emissions of 0.080 tons in 2018, down from 0.090 tons in 2017, indicating a reduction of about 11.1%[195]. - The group has implemented measures to reduce vehicle emissions, including avoiding peak traffic times and encouraging public transport use[194]. - The group has established a comprehensive data collection system to enhance understanding of environmental, social, and governance (ESG) issues[186]. - The group engages with stakeholders through various channels, including annual general meetings and regular communications, to gather feedback on ESG performance[189]. - The group reported a total of 112.30 tons of indirect CO2 emissions from water treatment in 2018, a reduction of approximately 8% from 122.05 tons in 2017[200]. - The group focuses on sustainable operational performance, ensuring compliance with legal requirements and maintaining food safety and quality[190]. - The group aims to continuously improve its ESG reporting principles to better align with stakeholder expectations[192].