Financial Performance - Total revenue for the fiscal year 2023 was approximately HKD 471.8 million, a year-on-year increase of about 33.7% from HKD 352.9 million in 2022[13]. - The company reported a net loss of approximately HKD 0.9 million for 2023, compared to a net profit of HKD 3.3 million in 2022, primarily due to a decrease in other income and government subsidies[13]. - The group recorded a net other loss and income of approximately HKD 0.1 million for the year ended December 31, 2023, a significant decrease from a net other income of HKD 18.8 million in 2022, primarily due to the absence of government subsidies during the year[34]. - The group recorded a loss of approximately HKD 0.9 million for the year ended December 31, 2023, compared to a profit of HKD 3.3 million in 2022, primarily due to a decrease in other income and revenue from government subsidies[45]. - The company's distributable reserves as of December 31, 2023, were approximately HKD 61.8 million, down from HKD 68.1 million in 2022[119]. Assets and Liabilities - Total assets increased to HKD 333.0 million in 2023, up from HKD 251.5 million in 2022, reflecting a growth of approximately 32.3%[9]. - Total liabilities rose to HKD 261.7 million in 2023, compared to HKD 175.7 million in 2022, indicating an increase of about 49.0%[9]. - The total value of assets decreased from HKD 283.7 million in 2019 to HKD 333.0 million in 2023, indicating fluctuations in asset management over the years[9]. - As of December 31, 2023, the capital-to-debt ratio was approximately 71.5%, up from 53.8% in 2022, primarily due to new bank borrowings[54]. Revenue Sources and Business Expansion - The company plans to diversify its revenue sources by expanding into food supply chain operations and restaurant consulting businesses in Hong Kong and China[14]. - The company aims to enhance customer loyalty and brand influence through improved restaurant atmosphere, service quality, and menu options[14]. - The company aims to continue enhancing restaurant quality and exploring organic growth and investment opportunities for sustainable long-term expansion[18]. - The company is launching a new line of private label products, including Chinese soup dumplings and Iberian ham, marking a significant milestone in innovation and quality[72]. Restaurant Operations - The company operates a total of 13 restaurants in Hong Kong, including 9 under its own brand and 4 under franchise or licensing arrangements[15]. - The company opened two new restaurants in Hong Kong during the year, with one located in Tsim Sha Tsui and the other in Shatin[20]. - Revenue from Shanghai-style restaurants increased by approximately 47.8% to about HKD 184.9 million, primarily due to the new restaurant opened in July 2023[26]. - Revenue from Japanese restaurants rose by approximately 62.8% to about HKD 117.7 million, mainly driven by the new restaurant opened in January 2023[28]. - Revenue from Thai restaurants decreased by approximately 22.7% to about HKD 52.8 million, attributed to the closure of two underperforming locations[29]. - Revenue from Vietnamese restaurants increased by approximately 47.8% to about HKD 64.0 million, benefiting from the lifting of social distancing measures[30]. - Revenue from Italian restaurants rose by approximately 23.1% to about HKD 51.7 million, also benefiting from the removal of social distancing measures[31]. Employee and Operational Expenses - Employee benefits expenses increased by approximately 25.8% to HKD 167.7 million in 2023, accounting for 35.5% of total revenue, down from 37.8% in 2022, reflecting the need to maintain adequate workforce levels[36]. - Cost of goods sold amounted to HKD 125.8 million for the year ended December 31, 2023, representing 26.7% of total revenue, compared to HKD 102.0 million and 29.1% in 2022, indicating a reduction in the percentage due to cost-cutting measures[35]. - Depreciation and amortization expenses rose to approximately HKD 85.6 million in 2023, representing 18.1% of total revenue, up from 17.3% in 2022, attributed to new restaurants and additional property, plant, and equipment[37]. - Rental expenses increased by approximately 92.2% to HKD 9.8 million in 2023, accounting for 2.1% of total revenue, compared to 1.4% in 2022, driven by increased revenue from restaurants[42]. Corporate Governance and Management - The company appointed Mr. Huang Yongde as Chief Financial Officer on June 5, 2023, who has over 8 years of experience in accounting, auditing, and business consulting[95]. - The company has a strong marketing and communications team led by Ms. Chen Xingming, who has over 20 years of industry experience[96]. - The company is focused on corporate governance and compliance, with Mr. Zeng Haoyan serving as the company secretary since June 5, 2023, bringing extensive experience in corporate finance and business law[98]. - The company has independent non-executive directors with diverse backgrounds, including Mr. Yan Kangzhuo and Mr. Xuan Tingzhang, who contribute to the audit and remuneration committees[90][94]. - The company emphasizes the importance of compliance with the Securities and Futures Ordinance, as highlighted by Mr. Xuan's qualifications and experience[90]. Shareholder and Stock Options - Major shareholder Real Hero Ventures Limited holds 274,350,000 shares, representing approximately 71.45% of the company's total shares[139]. - The group reported no final dividend for the year ending December 31, 2023, consistent with the previous year[111]. - The board has approved a share option scheme to incentivize selected participants for their contributions to the group[141]. - The stock option plan will be effective for a period determined by the board, not exceeding ten years from the grant date[142]. - No stock options have been granted under the stock option plan as of December 31, 2023[147]. Lease Agreements and Property Management - The company signed three lease agreements to renew existing restaurant locations, extending lease terms until 2026[21]. - The total cost for the lease agreement of Phase I of Lee Garden is approximately HKD 15.9 million[158]. - The lease term for Phase II of Lee Garden is from October 8, 2022, to January 31, 2029, totaling approximately 6 years and 4 months[158]. - The company plans to relocate its restaurants before the termination of the Phase I lease, ensuring no significant disruption to operations[162]. - The renewal of the lease agreements is expected to have a positive impact on the company's future development based on past performance[164]. Compliance and Legal Matters - The company has complied with all relevant laws and regulations without any major violations during the year[176]. - The audit committee reviewed the accounting principles and policies adopted by the group for the year ending December 31, 2023[181]. - The company has maintained a minimum public float of 25% of its total issued shares as required by the GEM listing rules[184]. - The company has appointed PwC as the auditor for the year ending December 31, 2023, with no changes in the auditor for the past three years[185].

Financial Performance - The group recorded revenue of approximately HKD 471.8 million, an increase of about 33.7% compared to the previous year[6]. - The group reported a loss of approximately HKD 0.9 million after tax, compared to a profit of HKD 3.3 million in 2022[6]. - Adjusted profit before tax was approximately HKD 2.9 million, compared to an adjusted loss of HKD 11.6 million in 2022[6]. - The group's comprehensive loss for the year was HKD 1.007 million, compared to a comprehensive income of HKD 2.914 million in 2022[8]. - The basic and diluted loss per share for the year was HKD 1.63, compared to HKD 0.14 in the previous year[7]. - The company reported a net loss of HKD 1,544,000 for the year ended December 31, 2023, compared to a net profit of HKD 4,317,000 in the previous year[26]. - The group reported a net loss of HKD 18.8 million for the year ended December 31, 2023, compared to a net profit in the previous year[62]. - The company reported a basic loss attributable to owners of the company of HKD (6,246) thousand for 2023, compared to HKD (533) thousand in 2022, indicating a worsening financial position[38]. Revenue Breakdown - Total revenue for the restaurant operations and consulting services reached HKD 499,998,000, with HKD 471,105,000 coming from external customers[22]. - For the year ended December 31, 2023, total revenue from restaurant operations and consulting services was HKD 471,849,000, compared to HKD 352,877,000 in 2022, representing a year-over-year increase of approximately 33.6%[30]. - The revenue generated from Shanghai-style restaurants increased by approximately 47.8% from about HKD 125.1 million to approximately HKD 184.9 million, primarily due to the opening of a new restaurant in July 2023[55]. - Revenue from Japanese restaurants rose by approximately 62.8% from about HKD 72.3 million to approximately HKD 117.7 million, attributed to a new restaurant opened in January 2023[56]. - Revenue from Vietnamese restaurants increased by approximately 47.8% from about HKD 43.3 million to approximately HKD 64.0 million, benefiting from the lifting of social distancing measures[59]. - Revenue from Italian restaurants grew by approximately 23.1% from about HKD 42.0 million to approximately HKD 51.7 million, also benefiting from the removal of social distancing measures[60]. - Revenue from Thai restaurants decreased by approximately 22.7% from about HKD 68.3 million to approximately HKD 52.8 million, mainly due to the closure of two restaurants[58]. Expenses and Costs - The group experienced a significant increase in operating expenses, including employee benefits, which rose to HKD 167.7 million from HKD 133.3 million in the previous year[7]. - Total operating expenses for 2023 amounted to HKD 51,626 thousand, up from HKD 45,286 thousand in 2022, reflecting a year-over-year increase of approximately 14%[32]. - Employee benefits expenses increased to approximately HKD 167.7 million, representing 35.5% of total revenue, up from 37.8% in the previous year[62]. - Cost of goods sold amounted to approximately HKD 125.8 million for the year ended December 31, 2023, representing 26.7% of total revenue, compared to HKD 102.0 million and 29.1% in 2022, indicating a reduction in the percentage due to cost-cutting measures[64]. - Depreciation and amortization expenses rose to approximately HKD 85.6 million for the year ended December 31, 2023, representing 18.1% of revenue, up from 17.3% in 2022, attributed to new restaurants and equipment[68]. - Rental expenses increased by approximately 92.2% to HKD 9.8 million for the year ended December 31, 2023, accounting for 2.1% of revenue, compared to 1.4% in 2022, driven by increased restaurant revenue[74]. Assets and Liabilities - Total assets increased to HKD 333,035,000 in 2023 from HKD 251,523,000 in 2022, representing a growth of 32.3%[10]. - Total liabilities increased to HKD 261,691,000 in 2023 from HKD 175,742,000 in 2022, marking a rise of 49.0%[11]. - The company's equity attributable to owners decreased to HKD 58,390,000 in 2023 from HKD 64,716,000 in 2022, a decline of 9.9%[11]. - Cash and cash equivalents increased to HKD 64,766,000 in 2023 from HKD 54,175,000 in 2022, reflecting a growth of 19.5%[10]. - Trade payables rose to HKD 22,444,000 in 2023, compared to HKD 19,539,000 in 2022, an increase of 9.8%[11]. - The capital debt ratio as of December 31, 2023, was approximately 71.5%, an increase from 53.8% in 2022, primarily due to new bank borrowings[85]. Strategic Initiatives - The group continues to focus on expanding its restaurant operations and consulting services as part of its growth strategy[21]. - The group plans to continue opening new restaurants and expanding its network, anticipating increases in rental and depreciation expenses in the future[70]. - The group plans to diversify revenue sources by expanding into various businesses, including food supply chain operations in Hong Kong and China[101]. - New products under the company's own brand will include a range of items such as Chinese soup packs and pre-packaged meals, reflecting the company's commitment to innovation[101]. - The company opened two new restaurants in Hong Kong during the fiscal year ending December 31, 2023, and closed two loss-making restaurants[49]. - The company has extended lease agreements for three existing restaurants in Hong Kong, with new lease terms ranging from 2024 to 2026[50]. Governance and Communication - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2023, and believes they are prepared in accordance with applicable accounting standards[110]. - The company emphasizes the importance of effective communication with shareholders to promote understanding of its business and strategies[113]. - The company has established a shareholder communication policy to ensure timely and comprehensive information dissemination[115]. - The audit committee has reviewed the effectiveness of the shareholder communication policy as of December 31, 2023, and considers it effective[116]. - The company expresses gratitude to its customers, business partners, and shareholders for their continuous support[117].

智通财经APP讯，1957 & CO.(08495)发布公告，于2024年3月11日，Mango Tree (HK) Limited( 公司间接 全资附属公司)作为租户与业主就租赁康城的该等物业订立租赁协议，租期自2024年3月31日起至2028年 3月30日止为期4年( 可选择重续多2年至2030年3月30日 )。集团计划于该等物业以“御‧家上海”商号营运 上海菜新餐厅。该等物业为香港新界将军澳康城路1号康城3楼333号舖。 公告称，公司主要业务为投资控股。集团主要从事经营各种品牌的全服务式餐厅，致力为不同的顾客提 供高质素日本料理、泰国菜、越南菜、上海菜及意大利菜。除经营餐厅业务外，集团亦在香港及中国提 供餐饮管理及咨询服务。集团在香港经营上海菜餐厅方面拥有经验，目前在形点、奥海城、东港城及围 方经营4间提供上海菜的餐厅。经考虑( 其中包括 )该等物业周边现有餐厅、集团现有餐厅( 特 别 是 提 供 上 海 菜 的 餐 厅 )的 表 现 、 客 户 对集 团 现 有 餐 厅 的 反 馈 意 见 及 要求、该等物业的位置及该 等物业附近可资比较物业的现行市价，董事会认为租赁协议的条款属公平合理，而订立租赁协 ...

Revenue Performance - The group recorded unaudited revenue of approximately HKD 341.5 million for the nine months ended September 30, 2023, representing an increase of about 40.2% compared to HKD 243.6 million for the same period in 2022[3]. - For the three months ended September 30, 2023, the group achieved unaudited revenue of approximately HKD 118.0 million, a 10.0% increase from HKD 107.3 million in the same period of 2022[3]. - For the nine months ended September 30, 2023, total revenue reached HKD 341,456,000, up 40.2% from HKD 243,641,000 in the same period of 2022[17]. - Revenue from Shanghai-style restaurants increased by approximately 62.3%, from about HKD 77.2 million to approximately HKD 125.3 million, primarily due to the opening of a new restaurant and the lifting of social distancing measures[38]. - Revenue from Japanese-style restaurants rose by approximately 57.4%, from about HKD 56.4 million to approximately HKD 88.8 million, driven by the opening of a new restaurant and the easing of restrictions[39]. - Revenue from Vietnamese-style restaurants increased by approximately 57.4%, from about HKD 30.5 million to approximately HKD 48.0 million, benefiting from the removal of social distancing measures[42]. - Revenue from Thai restaurants decreased by approximately HKD 6.6 million or 13.4% to about HKD 42.5 million for the nine months ended September 30, 2022[43]. - Revenue from Italian restaurants increased by approximately HKD 7.7 million or 26.7% to about HKD 36.5 million for the nine months ended September 30, 2022, mainly due to the lifting of social distancing measures[44]. Financial Losses - The group reported an unaudited adjusted loss before tax and government grants of approximately HKD 10.0 million for the nine months ended September 30, 2023, compared to a loss of HKD 12.1 million for the same period in 2022[3]. - The unaudited loss attributable to the owners of the company for the nine months ended September 30, 2023, was approximately HKD 11.1 million, compared to a profit of HKD 1.7 million in the same period of 2022[3]. - The group experienced an operating loss of approximately HKD 2.9 million for the nine months ended September 30, 2023, compared to an operating profit of HKD 1.5 million for the same period in 2022[4]. - The company reported a net loss of HKD 11,087,000 for the three months ended September 30, 2023, compared to a loss of HKD 1,712,000 in the same period of 2022[17]. - Total comprehensive loss for the nine months ended September 30, 2023, was HKD 11,252,000, compared to a loss of HKD 1,685,000 for the same period in 2022[17]. - The total comprehensive loss for the nine months ended September 30, 2023, was approximately HKD 8.5 million, compared to a loss of HKD 1.7 million for the same period in 2022[5]. Expenses - The net financing costs for the nine months ended September 30, 2023, amounted to approximately HKD 6.7 million, compared to HKD 1.5 million for the same period in 2022[4]. - The company incurred cleaning and laundry expenses of HKD 11,739,000 for the nine months ended September 30, 2023, compared to HKD 8,949,000 in the same period of 2022[20]. - Total operating expenses for the nine months ended September 30, 2023, were HKD 39,732,000, an increase of 26.0% from HKD 31,513,000 in the same period of 2022[20]. - Employee benefit expenses for the nine months ended September 30, 2023, were approximately HKD 130.5 million, an increase from HKD 96.8 million in the same period of 2022[4]. - The group’s depreciation and amortization expenses for the nine months ended September 30, 2023, were approximately HKD 64.2 million, compared to HKD 43.2 million for the same period in 2022[4]. - Financing costs increased to approximately HKD 7.4 million from HKD 1.5 million, mainly due to rising interest rates and new leases[56]. Shareholder Information - As of September 30, 2023, total equity attributable to owners was HKD 63,855,000, down from HKD 71,182,000 as of December 31, 2022[8]. - The company did not declare or pay any dividends for the nine months ended September 30, 2023, consistent with the previous year[24]. - The basic loss per share for the nine months ended September 30, 2023, was HKD (2.89), compared to a loss of HKD (0.45) for the same period in 2022[27]. - The company has not granted any share options under the share option scheme as of September 30, 2023[66]. - The total number of shares available for grant under the share option scheme is 32,000,000, accounting for approximately 10% of the total shares issued at the time of listing[66]. - As of September 30, 2023, Real Hero Ventures Limited holds 274,350,000 shares, representing 71.45% of the company's total shares[63]. Corporate Governance - The company has maintained compliance with the corporate governance code throughout the review period[69]. - The company is committed to high levels of corporate governance to protect shareholder interests and enhance corporate value[69]. - The audit committee, consisting of three independent non-executive directors, reviewed the group's Q3 performance and confirmed compliance with applicable accounting standards and GEM listing rules[71]. - The group's Q3 financial performance was unaudited and not reviewed by the company's auditors[72]. - The board did not recommend any dividends for the review period, consistent with 2022[75]. - There were no significant acquisitions or disposals of subsidiaries or associates during the review period[76]. Business Operations - The company operated a total of 13 restaurants as of September 30, 2023, maintaining the same number as the previous year, with two new openings and two closures during the period[36]. - The company has signed three lease agreements to extend existing restaurant leases in Hong Kong, ensuring continued operations at key locations[35]. - The company holds minority equity investments in three restaurants in China, with no new openings or investments made during the review period[34]. - The company operates 13 restaurants in Hong Kong, including 8 under its own brand and 5 under franchise agreements[58]. - New restaurants, including Kwan 8 in Tsim Sha Tsui and Yu Jia Shanghai in Sha Tin, opened in January and July 2023 respectively[58]. - The company aims to diversify revenue sources through expansion into food supply chain, franchising, and restaurant consulting businesses[58]. - The company continues to enhance restaurant quality and assess internal growth and investment prospects for sustainable long-term expansion[58].

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。 1957 & Co. (Hospitality) Limited （於開曼群島註冊成立的有限公司） （股份代號：8495） 截 至2023年9月30日 止 九 個 月 的 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 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 交所主板買賣的證券承受較大的市場波動風險，同時無法保證在GEM買 賣的證券會有高流通量的市場。 本公告的資料乃遵照《聯交所GEM證券上市規則》（「GEM上市規則」）而刊載， 旨在提供有關1957 & Co. (Hospitality) Limited（ ...

Financial Performance - The group recorded unaudited revenue of approximately HKD 223.5 million for the six months ended June 30, 2023, representing an increase of about 63.9% compared to HKD 136.4 million for the same period in 2022[3]. - The group reported an unaudited adjusted loss before tax and government grants of approximately HKD 10.6 million for the six months ended June 30, 2023, an improvement from a loss of HKD 15.8 million in the same period of 2022[3]. - The group recorded an unaudited loss attributable to owners of the company of approximately HKD 10.9 million for the six months ended June 30, 2023, compared to a loss of HKD 8.2 million for the same period in 2022[3]. - For the three months ended June 30, 2023, the group achieved unaudited revenue of approximately HKD 110.7 million, a 20.5% increase from HKD 91.9 million in the same period of 2022[3]. - The group reported an unaudited adjusted loss before tax and government grants of approximately HKD 0.9 million for the three months ended June 30, 2023, compared to an adjusted profit of HKD 3.6 million in the same period of 2022[3]. - The group recorded an unaudited loss attributable to owners of the company of approximately HKD 0.3 million for the three months ended June 30, 2023, down from a profit of HKD 6.7 million in the same period of 2022[3]. - The company reported a net loss of HKD 10,929,000 for the six months ended June 30, 2023, compared to a loss of HKD 8,233,000 for the same period in 2022, indicating a deterioration of 32.7%[12]. - The group reported a loss before tax of HKD 10,592,000 for the six months ended June 30, 2023, compared to a loss of HKD 8,656,000 for the same period in 2022[27]. - For the six months ended June 30, 2023, total revenue reached HKD 236,895,000, a significant increase from HKD 144,595,000 for the same period in 2022, representing a growth of approximately 64%[27]. Assets and Liabilities - Total assets as of June 30, 2023, amounted to HKD 324.8 million, an increase from HKD 251.5 million as of December 31, 2022[8]. - Non-current assets increased significantly to HKD 243.9 million as of June 30, 2023, compared to HKD 157.3 million as of December 31, 2022[8]. - The group reported total equity of HKD 62.6 million as of June 30, 2023, down from HKD 75.8 million as of December 31, 2022[8]. - The group’s cash and cash equivalents decreased to HKD 47.4 million as of June 30, 2023, from HKD 54.2 million as of December 31, 2022[8]. - Total liabilities increased to HKD 262,136,000 as of June 30, 2023, compared to HKD 175,742,000 as of December 31, 2022, representing a growth of 49.2%[9]. - Non-current liabilities rose significantly, with lease liabilities increasing from HKD 31,226,000 to HKD 99,950,000, a rise of 219.5%[9]. - The total equity attributable to owners decreased to HKD 53,654,000 as of June 30, 2023, from HKD 64,716,000 at the beginning of the year, a decline of 17.1%[12]. - The company’s bank borrowings increased to HKD 47,465,000 as of June 30, 2023, compared to HKD 33,170,000 at the end of 2022, reflecting a rise of 42.9%[9]. - The group’s liabilities as of June 30, 2023, totaled HKD 262,136,000, an increase from HKD 175,742,000 as of December 31, 2022, representing a growth of approximately 49%[32][33]. Revenue Breakdown - Revenue from restaurant operations for the six months ended June 30, 2023, was HKD 223,107,000, up from HKD 135,490,000 in the same period of 2022, marking an increase of approximately 64%[37]. - Revenue from Shanghai-style restaurants increased by approximately 87.1% to HKD 75.2 million, driven by the opening of a new restaurant and the lifting of social distancing measures[66]. - Revenue from Japanese restaurants rose by approximately 79.5% to HKD 60.5 million, primarily due to the sales from a new restaurant opened in Tsim Sha Tsui[67]. - Revenue from Thai restaurants increased by approximately 13.5% to HKD 31.2 million, despite a decline due to the closure of two underperforming locations[69]. - Revenue from Vietnamese restaurants surged by approximately 83.3% to HKD 30.8 million, benefiting from the removal of social distancing measures[70]. - Revenue from Italian restaurants grew by approximately 46.2% to HKD 25.3 million, also influenced by the lifting of restrictions[71]. Expenses and Costs - Cost of goods sold for the six months ended June 30, 2023, was approximately HKD 60.8 million, representing 27.3% of total revenue, down from 30.3% in the previous year[72]. - Employee costs increased by approximately 47.9% from about HKD 58.5 million to about HKD 86.5 million for the six months ended June 30, 2023, primarily due to additional labor for new restaurants[73]. - Depreciation and amortization expenses rose from approximately HKD 26.8 million to about HKD 41.6 million for the same period, attributed to new leases and acquisitions for five new restaurants[75]. - Rental expenses increased by approximately 45.2% from about HKD 3.1 million to about HKD 4.5 million, driven by increased restaurant revenues[77]. - Other operating expenses rose by about 55.1% from approximately HKD 18.5 million to about HKD 28.7 million, mainly due to increased sales revenue[80]. - Financing costs increased significantly from about HKD 0.9 million to approximately HKD 4.4 million, primarily due to rising bank loan interest rates and new lease financing costs[82]. Corporate Governance and Future Outlook - The company is committed to maintaining high levels of corporate governance to protect shareholder interests and enhance corporate value[121]. - The company is actively exploring new business opportunities in the food supply chain sector[94]. - The management team is focused on evaluating internal growth and investment prospects to optimize sustainable long-term expansion positioning[110]. - The company anticipates steady improvement in the second half of 2023, benefiting from the Hong Kong government's consumer voucher program and tourism promotion activities[110]. - A new mobile membership application will be gradually introduced to enhance customer interaction and brand loyalty[110]. - The board plans to continue expanding the restaurant network, which is expected to lead to increased property rental and related expenses in the future[76]. Shareholder Information - As of June 30, 2023, Real Hero Ventures Limited holds a significant 71.45% stake in the company, representing 274,350,000 shares[115][116]. - The company has not granted any share options under the share option plan as of June 30, 2023, with a total of 32,000,000 shares available for grant, representing 10% of the total shares issued at listing[118]. - The board does not recommend the distribution of any dividends during the six-month review period, consistent with 2022[129].

香港交易及結算所有限公司及聯交所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。 1957 & Co. (Hospitality) Limited （於開曼群島註冊成立的有限公司） （股份代號：8495） 截 至2023年6月30日 止 六 個 月 的 中 期 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 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。 本公告的資料乃遵照《聯交所GEM證券上市規則》（「GEM上市規則」）而刊載， 旨在提供有關1957 & Co. (Hospitality) Limited（「本公司」或「1957 & ...

Financial Performance - The group recorded unaudited revenue of approximately HKD 112.7 million for the three months ended March 31, 2023, representing an increase of approximately 153.8% compared to HKD 44.4 million in the same period of 2022[3]. - The group reported an unaudited adjusted loss before tax and government grants of approximately HKD 9.6 million, improved from a loss of HKD 19.4 million in 2022[3]. - The unaudited loss attributable to the owners of the company was approximately HKD 10.6 million, compared to HKD 14.9 million in the same period of 2022[3]. - Operating loss for the three months ended March 31, 2023, was HKD 7.0 million, a significant improvement from HKD 16.3 million in the same period of 2022[4]. - The basic and diluted loss per share attributable to owners of the company was HKD 2.76, compared to HKD 3.89 in the same period of 2022[4]. - Total comprehensive loss for the period was HKD 10.2 million, compared to HKD 17.1 million in the same period of 2022[5]. Revenue Breakdown - Total revenue for the three months ended March 31, 2023, was HKD 112.732 million, a significant increase of approximately 153.8% from HKD 44.032 million in the same period of 2022[17][35]. - The company generated revenue from restaurant operations, with the breakdown by cuisine type showing Shanghai cuisine at HKD 37.054 million (32.9%), Japanese cuisine at HKD 27.356 million (24.3%), and Thai cuisine at HKD 20.339 million (18.0%) for the three months ended March 31, 2023[35]. - Revenue from Thai restaurants increased from approximately HKD 8.1 million to about HKD 20.3 million, representing a growth of approximately 150.6% due to the rebound in sales after the lifting of social distancing measures[39]. - Revenue from Vietnamese restaurants rose from approximately HKD 4.6 million to about HKD 14.2 million, marking an increase of approximately 208.7% attributed to the same factors[40]. - Revenue from Italian restaurants grew from approximately HKD 5.8 million to about HKD 13.7 million, reflecting a growth of approximately 136.2% due to the sales rebound[41]. Expenses and Costs - The group incurred employee benefit expenses of HKD 44.2 million, up from HKD 26.4 million in the previous year[4]. - The cost of inventories sold increased to HKD 31.6 million from HKD 14.3 million in the same period of 2022[4]. - The group reported financing costs of HKD 2.6 million, compared to HKD 0.5 million in the same period of 2022[4]. - Cost of goods sold was approximately HKD 31.6 million and HKD 14.3 million for the respective periods, accounting for about 28.0% and 32.5% of total revenue, with a decrease in percentage due to cost reduction measures[42]. - Employee costs increased from approximately HKD 26.4 million to about HKD 44.2 million, a rise of approximately 67.4%, primarily due to additional labor for new restaurants[43]. - Depreciation and amortization expenses rose from approximately HKD 13.5 million to about HKD 21.5 million, driven by new leases and acquisitions for five new restaurants[45]. - Rental expenses increased from approximately HKD 1.0 million to about HKD 2.1 million, a rise of approximately 110%, due to increased revenue leading to higher turnover rents[47]. - Utilities expenses rose from approximately HKD 2.1 million to about HKD 3.3 million, attributed to an increase in the number of operating restaurants[48]. - Other operating expenses increased from approximately HKD 8.1 million to about HKD 16.8 million, a growth of approximately 107.4%, due to increased sales and the number of restaurants in operation[49]. Investments and Expansion - The company opened one new restaurant in Hong Kong during the review period, increasing the total number of restaurants to 14 as of March 31, 2023, compared to 12 in the previous year[29][34]. - The company has invested in three restaurants in China, holding minority stakes in each, and provided pre-opening consulting and management services[31]. - The company continues to monitor the performance of its minority stake investments in restaurants in China without opening or investing in new restaurants during the review period[32]. - The company established a new non-wholly owned subsidiary, 1957 Food Supply Chain Company Limited, in March 2023, focusing on global procurement of high-quality fresh food, expecting new revenue from wholesale business profits[55]. - A new wholly-owned subsidiary, 1957 & Co. (Overseas) Limited, was also established in March 2023 to provide brand and restaurant management services for new restaurants in Southeast Asia, with anticipated revenue from consulting and management fees[55]. - The company plans to expand the business functions of its wholly-owned subsidiary, 1957 (Shenzhen) Restaurant Management Co., Ltd., into franchise operations in China, expecting new revenue from consulting and management fees[58]. - A new Shanghai cuisine restaurant is expected to open in Sha Tin Wai by the end of July 2023, following the signing of a formal lease agreement during the review period[60]. - The company is actively exploring new management projects and opportunities to franchise its brand in China, aiming to provide stable returns and growth prospects for shareholders[62]. - The company is seeking suitable opportunities to develop food trading businesses in Hong Kong and China, aiming to maximize returns for investors[58]. Shareholder Information - As of March 31, 2023, Real Hero Ventures Limited holds 274,350,000 shares, representing 71.45% of the company's equity[68]. - The company has a stock option plan approved by shareholders on November 6, 2017, to incentivize employees and directors for their contributions[71]. - As of March 31, 2023, no stock options have been granted under the stock option plan[73]. - During the review period, the company did not purchase, sell, or redeem any listed securities[74]. - The company has not engaged in any competitive business activities during the review period[75]. Compliance and Governance - The audit committee has reviewed the group's first-quarter performance and confirmed compliance with applicable accounting standards[80]. - The company decided not to renew leases for two restaurants that recorded net losses, reducing further loss risks[82]. - No dividends were recommended for distribution during the review period[83]. - There were no significant acquisitions or disposals of subsidiaries or associates during the review period[84].

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。 1957 & Co. (Hospitality) Limited （於開曼群島註冊成立的有限公司） （股份代號：8495） 截 至2023年3月31日 止 三 個 月 的 第 一 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 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 交所主板買賣的證券承受較大的市場波動風險，同時無法保證在GEM買 賣的證券會有高流通量的市場。 本公告的資料乃遵照《聯交所GEM證券上市規則》（「GEM上市規則」）而刊載， 旨在提供有關1957 & Co. (Hospitality) Limited（ ...

Financial Performance - Total revenue for 2022 was HKD 352.877 million, a decrease of 10.5% from HKD 394.185 million in 2021[12] - The company reported a loss attributable to owners of the company of HKD 0.533 million in 2022, compared to a profit of HKD 13.165 million in 2021[12] - Net profit after tax decreased to HKD 3.3 million from HKD 18.9 million in 2021, primarily due to the impact of the fifth wave of COVID-19 in Hong Kong and related government measures[23] - The group experienced a loss of HKD 17.2 million in the first quarter of 2022, but managed to turn the situation around by the end of the year, achieving profitability[23] - The company's cash and cash equivalents as of December 31, 2022, were approximately HKD 54.2 million, a decrease of about 42.6% compared to HKD 94.4 million in 2021, primarily due to cash used in financing and investment activities[76] - The company recorded a profit of approximately HKD 3.3 million for the year ended December 31, 2022, down from approximately HKD 18.9 million in the previous year, influenced by a government subsidy of about HKD 16.3 million[64] Assets and Liabilities - Total assets increased to HKD 251.523 million in 2022, up from HKD 205.980 million in 2021, representing a growth of 22%[12] - Total liabilities rose to HKD 175.742 million in 2022, compared to HKD 133.113 million in 2021, indicating a 32% increase[12] - The company's capital debt ratio as of December 31, 2022, was approximately 53.8%, up from 18.4% in 2021, mainly due to new bank borrowings during the year[81] Operational Challenges - The company adopted a cautious approach in business expansion and cost control due to the challenging operating environment caused by the COVID-19 pandemic[17] - The company experienced significant impacts on its operations due to the fifth wave of COVID-19 in Hong Kong, which began in early January 2022[17] - The company’s financial performance reflects the ongoing challenges in the Hong Kong economy, particularly in the hospitality sector[17] Business Strategy and Expansion - The company is focused on strategic development and maintaining operational resilience in the face of market volatility[17] - A new joint venture focused on the food supply chain was established in March 2023, aiming to source and sell high-quality fresh food globally[25] - A wholly-owned subsidiary is planned to be established in 2023 to focus on overseas franchise operations, particularly in Southeast Asia[25] - The group plans to expand its wholly-owned subsidiary's business functions into franchise operations in China, targeting new restaurant openings[25] - The company is diversifying its revenue sources and cautiously expanding its restaurant network to benefit shareholders[68] Restaurant Operations - The group currently operates thirteen restaurants in Hong Kong, including eight under its own brand and five under franchise or licensing arrangements[24] - The group opened two new restaurants in Hong Kong during 2022, increasing the total number of operating restaurants to thirteen[44] - Revenue from Shanghai-style restaurants increased by approximately 10.0% to about HKD 125.1 million, while revenue from Japanese restaurants decreased by approximately 27.8% to about HKD 72.3 million[47][48] - The group’s Thai restaurant revenue decreased by approximately 14.1% to about HKD 68.3 million due to tightened social distancing measures[49] - The group’s Vietnamese restaurant revenue decreased by approximately 17.8% to about HKD 43.3 million, also impacted by social distancing measures[51] Employee and Operational Costs - Employee costs increased by approximately 5.4% to about HKD 133.3 million for the year ended December 31, 2022, primarily due to additional labor for a new restaurant[54] - Cost of goods sold was approximately HKD 102.0 million for the year ended December 31, 2022, representing about 29.1% of total revenue, down from approximately HKD 115.5 million or 29.4% in the previous year[53] - Rental expenses decreased by approximately 36.3% to about HKD 5.1 million for the year ended December 31, 2022, compared to approximately HKD 8.0 million in the previous year[60] Governance and Management - The company has established a remuneration committee to review the compensation policies for directors and senior management based on operational performance and market practices[164] - The company’s audit committee is chaired by an independent non-executive director with extensive experience in accounting and corporate finance[119] - The company is committed to maintaining high standards of corporate governance through its various committees, including remuneration and nomination committees[115] Market Outlook - The outlook for the restaurant industry is positive, with expectations of economic recovery and increased inbound tourism driving growth[34] - The total revenue of the restaurant industry in Hong Kong for 2022 was approximately HKD 86.8 billion, a decrease of 6.4% in value and 9.5% in quantity compared to 2021[34] Shareholder Information - The board did not recommend the payment of a final dividend for the year ended December 31, 2022[86] - The company reported no final dividend for the year ended December 31, 2022, compared to zero in 2021[141] - As of December 31, 2022, Real Hero Ventures Limited holds 274,350,000 shares, representing approximately 71.45% of the company's equity[171] Legal and Compliance - The company has no significant contingent liabilities as of December 31, 2022[84] - There were no major lawsuits or arbitrations involving the group as of December 31, 2022[95] - The independent non-executive directors confirmed their independence under GEM Listing Rules, and the company believes they remain independent as of the report date[158]