2021 第一季度 業績報告 TOP STANDARD CORPORATION • 第一季度業績報告 2021 1 董事會（「董事會」）宣佈，本公司及其附屬公司（統稱「本集團」）截至二零二一 年三月三十一日止三個月之未經審核簡明綜合業績，連同二零二零年同期之未 經審核比較數字載列如下： 未經審核簡明綜合損益及其他全面收入表 截至二零二一年三月三十一日止三個月 截至三月三十一日 | | | 止三個月 | | | --- | --- | --- | --- | | | | 二零二一年 | 二零二零年 | | | | 千港元 | 千港元 | | | 附註 | 未經審核 | 未經審核 | | 持續經營業務 | | | | | 收入 | 5 | 8,022 | 6,308 | | 其他收入 | | 531 | 116 | | 其他虧損 | | (21) | – | | 已使用原材料及耗材 | | (2,449) | (2,288) | | 員工成本 | | (3,577) | (2,866) | | 物業及設備折舊 | | – | (818) | | 使用權資產折舊 | | – | (863) | | 以下各項的減值虧 ...

2020 ANNUAL REPORT 2020/21 年報 TOP STANDARD CORPORATION 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。 香港交易及結算所有限公司及聯交所對本報告之內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表 示概不就因本報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。 本報告的資料乃遵照《聯交所 GEM 證券上市規則》（「GEM 上市規則」）而刊載，旨在提供有關 Top Standard Corporation（「本公司」，連同其附屬公司，「本集團」或「我們」）的資料；本公司董事（「董事」）就本報告的資料共同 及個別承擔全部責任。各董事作出一切合理查詢後確認，就彼等所深知及確信，本報 ...

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。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，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報告全部或任何部分內容而 產生或因倚賴該等內容而引致的任何損失承擔任何責任。 本報告的資料乃遵照《聯交所GEM證券上市規則》（「GEM上市規則」）而刊載，旨 在提供有關Top Standard Corporation（「本公司」，連同其附屬公司，「本集團」） 的資料；本公司董事（「董事」）就本報告的資料共同及個別承擔全部責任。各董 事作出一切合理查詢後確認，就彼等所深知及確信，本報告所載資料在各重大 方面均準確完整，並無誤導或欺詐成分，及並無遺漏任何其他事項，以致本報 告所載任何陳述或本報告產生誤導 ...

Financial Performance - Revenue for the three months ended June 30, 2020, was HKD 14,226,000, a decrease of 58.5% compared to HKD 34,223,000 for the same period in 2019[4] - Other income increased significantly to HKD 1,937,000 from HKD 96,000 year-on-year[4] - The group reported a profit of HKD 2,724,000 for the period, compared to a loss of HKD 7,519,000 in the same quarter of 2019[4] - Basic and diluted earnings per share for the period were HKD 0.32, compared to a loss per share of HKD 0.94 in the previous year[6] - Total comprehensive income for the period was HKD 2,565,000, compared to a total comprehensive loss of HKD 7,519,000 in the prior year[4] - The total profit and comprehensive income for the three months ended June 30, 2020, was HKD 2,600,000, compared to a loss of HKD 7,500,000 for the same period in 2019, marking a turnaround from loss to profit[36] Cost Management - The group has reduced its employee costs from approximately HKD 14,900,000 in the three months ended June 30, 2019, to approximately HKD 7,100,000, a decrease of about 52.2%[32] - The cost of materials and consumables used decreased from approximately HKD 11,400,000 in the three months ended June 30, 2019, to approximately HKD 4,100,000, a reduction of about 64.2%[31] - Rental and related expenses decreased from approximately HKD 3,100,000 to approximately HKD 900,000, a reduction of about 71.7% for the three months ended June 30, 2020[35] Business Operations - The company continues to operate in the food and beverage service sector, with no changes in its core business strategy noted[10] - The group expects to receive HKD 28,800,000 from investors for debt repayment and future operations, as stated in the announcement on June 26, 2020[18] - The group has taken measures to alleviate liquidity pressure, including seeking alternative financing and negotiating with bondholders to extend maturity dates[18] - The group plans to focus its financial resources on developing existing restaurants and businesses after selling the underperforming "浪人" brand restaurant[27] - The company is actively monitoring the impact of COVID-19 on its operations and financial performance, with measures in place to control costs and improve efficiency[40] Shareholder Information - Mr. Zhu Jia Hui holds 458,088,000 shares, representing 57.26% of the issued share capital[53] - Mr. Zhu Jian Yuan owns 5,000,000 shares, accounting for 0.63% of the issued share capital[53] - JSS Group, fully owned by Mr. Zhu Jia Hui, holds approximately 57.26% of the company's issued share capital[53] - J & W Group, fully owned by Mr. Zhu Jian Yuan, holds about 0.63% of the company's issued share capital[53] - Ms. Zhu Zheng Xiu Man, spouse of Mr. Zhu Jian Yuan, holds 5,000,000 shares, equivalent to 0.63% of the issued share capital[56] Corporate Governance - The company has adopted a code of conduct regarding securities trading by directors, with no reported non-compliance during the three months ending June 30, 2020[64] - The Audit and Risk Management Committee consists of three independent non-executive directors, ensuring compliance with applicable laws and regulations[68] - The committee reviewed the unaudited first-quarter results for the period ending June 30, 2020, confirming adherence to applicable accounting principles and stock exchange regulations[68] Dividends and Investments - The group has not declared or proposed any dividends for the three months ended June 30, 2020, consistent with the same period in 2019[24] - The company did not declare or recommend any dividends for the three months ended June 30, 2020, consistent with the previous year[38] - The company has no significant investments as of June 30, 2020[49] Mergers and Acquisitions - There were no significant mergers or acquisitions reported in the current quarter[10] - The group has sold one restaurant and subsequently sold three underperforming restaurants in July 2020, aiming to improve cash flow and reduce debt burden[41] - The estimated net liabilities of Dalaran Group Limited, sold for HKD 1, was approximately HKD 7,100,000 as of June 30, 2020[43] - The estimated net liabilities of Higher Top Limited, also sold for HKD 1, was approximately HKD 4,700,000 as of June 30, 2020[46] - The estimated net liabilities of Xunhai Limited, sold for HKD 1, were approximately HKD 18,300,000 as of June 30, 2020[47] Financial Reporting - The group has applied all new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the reported financial information[19] - The financial report will be published on the GEM website and the company's official website for at least seven days from the publication date[70]

Financial Performance - Total revenue for the year ended March 31, 2020, was approximately HKD 96.6 million, a decrease of about 25.2% from HKD 129.2 million in the previous year[9]. - The total loss and comprehensive expenses amounted to approximately HKD 93.3 million, significantly up from HKD 37.7 million in the previous year[9]. - The revenue decline was primarily due to the impact of social events since June 2019 and the outbreak of COVID-19[10]. - The group's revenue decreased from approximately HKD 129.2 million for the year ended March 31, 2019, to approximately HKD 96.6 million for the year ended March 31, 2020, representing a decline of about 25.2%[15]. - Total loss and comprehensive expenses increased from approximately HKD 37.7 million to approximately HKD 93.2 million, an increase of about HKD 55.5 million, driven by the aforementioned factors[23]. - Basic loss per share increased from approximately HKD 0.047 to approximately HKD 0.117, an increase of about HKD 0.070, consistent with the growth in total loss and comprehensive expenses[24]. - The group incurred a loss of approximately HKD 93,303,000 for the year ending March 31, 2020[178]. Cost Management - The company has intensified cost control measures on raw material procurement and other operational costs, with a downward trend in various costs starting to reflect the effectiveness of these measures[10]. - The company will continue to implement measures to control costs and improve efficiency to maintain profitability and market competitiveness[11]. - The cost of raw materials and consumables decreased from approximately HKD 45.8 million to approximately HKD 34.1 million, a reduction of about 25.6%, primarily due to decreased revenue and enhanced cost control[16]. - Employee costs decreased from approximately HKD 53.4 million to approximately HKD 45.3 million, a decline of about 15.1%, attributed to a reduction in employee numbers and adjustments in salary levels[17]. - The group faces risks related to rental expenses, raw material costs, and employee costs, which constitute a large portion of its operating costs[44]. Share Issuance and Financial Position - The net proceeds from the share issuance during the IPO were approximately HKD 42.3 million, which will be utilized according to the business strategies outlined in the prospectus[14]. - The actual net proceeds from the share issuance were approximately HKD 42.3 million, lower than the estimated figure in the prospectus, with actual usage adjusted accordingly[25]. - As of March 31, 2020, the group's total assets were approximately HKD 9.0 million, down from approximately HKD 65.0 million in the previous year, with a current ratio of approximately 0.1 times[29]. - The total borrowings as of March 31, 2020, were approximately HKD 2.6 million, significantly reduced from approximately HKD 21.5 million in the previous year, with an effective annual interest rate of 6.50%[33]. - The group is actively seeking potential buyers or investors for underperforming restaurants and is considering placing new shares to improve cash flow and reduce debt burden[43]. Corporate Governance - The board of directors consists of four executive directors and three independent non-executive directors, ensuring a diverse range of business experience and expertise[143]. - The company is committed to high standards of corporate governance to protect shareholder interests and enhance corporate value[139]. - The audit and risk management committee has reviewed the accounting principles and policies adopted by the group for the financial year ending March 31, 2020[128]. - The company encourages continuous professional development for directors to ensure they are updated on the latest regulatory developments and the group's performance[147]. - The board confirmed that there are no significant uncertainties regarding the company's ability to continue as a going concern[173]. Impact of COVID-19 - The group’s operations are significantly impacted by COVID-19, with management implementing cost control measures that are beginning to show results[43]. - The company’s future performance is significantly influenced by the impact of COVID-19, with ongoing monitoring of market developments and financial implications[125]. - Management is negotiating with bondholders to extend the maturity of two unsecured bonds totaling HKD 12,000,000 to alleviate immediate debt burdens[180]. Management and Experience - Dr. Chen has over 20 years of experience in the oil and gas industry and business management[53]. - Mr. Yao has approximately 30 years of experience in the construction industry, overseeing compliance and corporate governance matters[54]. - Mr. Chan has around 20 years of business management experience, previously serving as General Manager at a plastic and hardware products company[55]. - Mr. Wang has nearly 30 years of experience in auditing, internal control, financial management, and capital markets[56]. - Mr. Zhu has over 10 years of experience in accounting and auditing, currently serving as the Group's Financial Director[59]. Legal and Compliance - The company has complied with all relevant laws and regulations affecting its business operations during the reporting period[120]. - There are no significant legal proceedings or arbitrations involving the company as of March 31, 2020[119]. - The company confirmed compliance with the non-competition agreement as of March 31, 2020[109]. Employee and Operational Metrics - As of March 31, 2020, the total number of full-time and part-time employees was 137, a decrease from 241 in 2019[92]. - Total employee costs, including director remuneration, amounted to approximately HKD 45.3 million for the year ended March 31, 2020, down from approximately HKD 53.4 million in 2019[92]. - The company has not reported any distributable reserves as of March 31, 2020, compared to approximately HKD 3.6 million in the previous year[80].

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。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，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報告全部或任何部分內容而 產生或因倚賴該等內容而引致的任何損失承擔任何責任。 本報告的資料乃遵照《聯交所GEM證券上市規則》（「GEM上市規則」）而刊載，旨 在提供有關Top Standard Corporation（「本公司」）的資料；本公司董事（「董事」） 就本報告的資料共同及個別承擔全部責任。各董事作出一切合理查詢後確認， 就彼等所深知及確信，本報告所載資料在各重大方面均準確完整，並無誤導或 欺詐成分，及並無遺漏任何其他事項，以致本報告所載任何陳述或本報告產生 誤導。 董事會（「董事會」）謹此 ...

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。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，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報告全部或任何部分內容而 產生或因倚賴該等內容而引致的任何損失承擔任何責任。 本報告的資料乃遵照《聯交所GEM證券上市規則》（「GEM上市規則」）而刊載，旨 在提供有關Top Standard Corporation（「本公司」，連同其附屬公司，「本集團」） 的資料；本公司董事（「董事」）就本報告的資料共同及個別承擔全部責任。各董 事作出一切合理查詢後確認，就彼等所深知及確信，本報告所載資料在各重大 方面均準確完整，並無誤導或欺詐成分，及並無遺漏任何其他事項，以致本報 告所載任何陳述或本報告產生誤導 ...

Financial Performance - Revenue for the three months ended June 30, 2019, was HKD 34,223,000, an increase of 13.6% compared to HKD 30,160,000 for the same period in 2018[3] - Other income increased to HKD 96,000 from HKD 45,000, representing a growth of 113.3% year-over-year[3] - The pre-tax loss for the period was HKD 7,519,000, compared to a loss of HKD 6,239,000 in the previous year, representing a deterioration of 20.5%[3] - The total comprehensive loss for the period was HKD 7,519,000, compared to HKD 6,245,000 in the same period last year, indicating an increase of 20.4%[3] - Basic loss per share was HKD 0.94, compared to HKD 0.78 for the same period in 2018, reflecting a decline of 20.5%[3] - The total loss for the three months ended June 30, 2019, increased to approximately HKD 7,519,000 from HKD 6,245,000 for the same period in 2018[30] Cost and Expenses - The cost of materials and consumables used was HKD 11,399,000, up from HKD 10,770,000, indicating an increase of 5.8%[3] - Employee costs rose to HKD 14,892,000 from HKD 12,244,000, reflecting a 21.6% increase[3] - Depreciation expenses surged to HKD 6,149,000 from HKD 1,765,000, marking a significant increase of 248.5%[3] - The cost of materials used increased by approximately 5.6% to about HKD 11,400,000 from HKD 10,800,000, attributed to operations at the new restaurants[25] - Rental and related expenses decreased by approximately 55.1% to about HKD 3,100,000 from HKD 6,900,000, mainly due to new accounting standards[29] Business Operations - The company continues to focus on providing catering services, with no new products or technologies mentioned in the report[7] - The increase in revenue was primarily due to contributions from two new restaurants, "Man Jiang Hong" in Tsim Sha Tsui and "Xin Zhai" in Taipei, generating approximately HKD 4,000,000 and HKD 2,900,000 respectively[24] - Employee costs rose by approximately 22.1% to about HKD 14,900,000 from HKD 12,200,000, mainly due to hiring for the new restaurants[26] - Depreciation expenses surged by approximately 238.9% to about HKD 6,100,000 from HKD 1,800,000, influenced by renovations and the adoption of new accounting standards[28] - The company did not declare any dividends for the three months ended June 30, 2019, consistent with the same period in 2018[17] - The relocation of "Xin Zhai" in Central is expected to benefit the company by reducing competition and attracting new customers, with reopening planned for August 2019[34] Shareholder Information - Mr. Zhu Jia Hui holds 486,720,000 shares, representing approximately 60.84% of the issued share capital[40] - Mr. Zhu Jian Yuan holds 56,640,000 shares, representing approximately 7.08% of the issued share capital[40] - JSS Group, owned by Mr. Zhu Jia Hui, holds 486,720,000 shares, accounting for 60.84% of the company[45] - J & W Group, owned by Mr. Zhu Jian Yuan, holds 56,640,000 shares, accounting for 7.08% of the company[45] Corporate Governance - The company has adopted a code of conduct regarding securities transactions by directors, compliant with GEM Listing Rules[53] - The company confirmed compliance with the corporate governance code as per GEM Listing Rules[54] - No directors or major shareholders were found to have interests in any business that competes directly or indirectly with the company[49] - The company has established an Audit and Risk Management Committee consisting of three independent non-executive directors to oversee compliance with applicable laws and regulations[56] - The Audit and Risk Management Committee is responsible for reviewing the financial reporting process, risk management procedures, and internal control systems[56] - The company confirmed that the unaudited first-quarter results for the three months ended June 30, 2019, were prepared in accordance with applicable accounting principles and regulations[58] - The chairman and CEO, Mr. Zhu Jiafei, holds both positions to ensure effective implementation of the company's business strategies[55] - The board believes that having Mr. Zhu in both roles is in the best interest of the group, given his deep understanding and extensive experience in the business[55] - The board consists of executive directors and independent non-executive directors, ensuring a balance of power and authority[55] - The company is committed to reviewing its governance structure periodically based on current circumstances[55] - The Audit and Risk Management Committee will consider matters related to external auditors and other responsibilities assigned by the board[56] - The company aims to maintain compliance with the corporate governance code while ensuring effective decision-making processes[55] Miscellaneous - As of June 30, 2019, the company had no significant investments held[37] - The company reported that there were no significant contingent liabilities as of June 30, 2019[38] - There were no purchases, sales, or redemptions of the company's listed securities during the three months ended June 30, 2019[48] - The company will publish its reports on the GEM website and its own website for at least seven days from the publication date[60]

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。 香港交易及結算所有限公司及聯交所對本報告之內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示 概不就因本報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。 本報告的資料乃遵照《聯交所GEM證券上市規則》（「GEM上市規則」）而刊載，旨在提供有關Top Standard Corporation （「本公司」，連同其附屬公司，「本集團」或「我們」）的資料；本公司董事（「董事」）就本報告的資料共同及個別承擔全 部責任。各董事作出一切合理查詢後確認，就彼等所深知及確信，本報告所載資料在各重大方面均準確完整，並無誤 導或欺詐成分，及並無遺漏任何其他事項，以致本報告所載任何陳述或本報告產生誤 ...

Top Standard Corporation （於開曼群島註冊成立的有限公司） 股份代號：8510 2018 第三季度業績報告 Top Standard Corporation (Incorporated in the Cayman Islands with limited liability) Stock Code: 8510 THIRD QUARTERLY REPORT 2018 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為相比在聯交所上市的其他公司帶有較高投資風險的中小型公 司提供上市的市場。有意投資者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。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，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報告全部或任何部分內容而 產生或因依賴該等內容而引致的任何損失承擔任何責任。 本報告載有根據聯交所GEM證券上市規則（「GEM上 ...