Financial Performance - The company reported a significant increase in revenue, achieving a total of $XX million, representing a YY% growth compared to the previous year[5]. - Revenue for the year ended December 31, 2024, was HK$244,604,000, a decrease of 12.2% from HK$278,542,000 in 2023[22]. - For the year ended December 31, 2024, the Group recorded revenue of approximately HK$244.6 million, a decrease of approximately HK$33.9 million or 12.2% compared to HK$278.5 million in 2023[49]. - Loss before taxation improved to HK$6,312,000 in 2024 from HK$9,453,000 in 2023[22]. - The total deficit increased to HK$15,218,000 in 2024 from HK$10,827,000 in 2023[23]. - Loss attributable to owners of the Company was approximately HK$6.6 million for the year ended December 31, 2024, an increase of approximately HK$4.8 million from a loss of approximately HK$1.8 million in 2023[57]. User Engagement and Market Expansion - User data showed an increase in active users, reaching a total of ZZ million, which is an increase of AA% year-over-year[5]. - The company provided a positive outlook for the next fiscal year, projecting revenue growth of BB% and an increase in user engagement metrics[5]. - Market expansion plans include entering new geographic regions, with a target of increasing market share by EE% in the next year[5]. - The Group plans to establish a high-end Hunan cuisine brand and expand branches in multiple areas in Mainland China[29]. - The Group remains optimistic about the recovery of Hong Kong's food and beverage industry in 2025, driven by an increase in tourists visiting Hong Kong[48]. Strategic Initiatives - New product launches are expected to contribute to revenue, with an estimated impact of $CC million in the upcoming quarter[5]. - The company is investing in new technology development, allocating $DD million towards R&D initiatives aimed at enhancing product offerings[5]. - The company is considering strategic acquisitions to bolster its market position, with potential targets identified that could add $FF million in annual revenue[5]. - The company has established new partnerships that are expected to enhance distribution channels and increase sales by HH%[5]. Cost Management and Financial Health - Cost management strategies are being implemented, aiming to reduce operational expenses by GG% over the next fiscal year[5]. - The Group's cash and cash equivalents were approximately HK$9.2 million as of December 31, 2024, down from approximately HK$10.4 million in 2023, and there were no bank borrowings as of December 31, 2024[60]. - The Group's net current liabilities amounted to HK$29.0 million for the year ended December 31, 2024, indicating a material uncertainty regarding its ability to continue as a going concern[132][136]. - The Group's current ratio improved to approximately 0.5 from 0.4 in 2023, with net current liabilities decreasing to approximately HK$29.0 million from HK$41.6 million[58][59]. Leadership and Governance - Mr. Kong Linglei was appointed as the CEO and Executive Director on February 15, 2024, bringing extensive experience in the catering and media industries[105]. - Mr. Liu Enyu was appointed as the Non-Executive Director and Chairman of the Board on February 9, 2024, with a background in brand management and operations in the catering sector[106]. - The roles of chairman and chief executive officer were separated on February 15, 2024, with Mr. Liu Enyu appointed as chairman and Mr. Kong Linglei as CEO[121][126]. - The company has expanded its leadership team with diverse expertise in catering, technology, and management, enhancing its strategic direction[113]. - The company has complied with the Corporate Governance Code provisions during the year under review, except for deviations from code provisions C.2.1 and D.2.5[119]. Corporate Governance and Compliance - The company is committed to high standards of corporate governance to safeguard and enhance shareholders' interests[118]. - The Board consists of seven Directors, including two executive Directors, two non-executive Directors, and three independent non-executive Directors, ensuring a balance of skills and experience[140][144]. - The Company has established four committees: Audit, Remuneration, Nomination, and Legal Compliance, each with delegated powers[196]. - The Audit Committee will continue to review the necessity of an internal audit function annually, considering the cost-effectiveness of appointing external professionals[130]. - The Company has a policy for Directors to seek independent professional advice at the Company's expense[194]. Awards and Recognition - Five restaurants were awarded one MICHELIN star each, marking a significant achievement for the Group[42]. - The Group's restaurants received multiple awards, including Michelin stars for five restaurants, highlighting its commitment to quality and innovation[46]. Future Plans and Investments - The company plans to fully utilize the proceeds from Placing I and Placing II by December 31, 2025[100]. - The company is also investing HK$2.5 million in potential PRC or overseas food and beverage related investment opportunities from Placing I[93]. - The company intends to continue evaluating its operations and financial performance when applying the proceeds from both placings[100].

Financial Performance - The company's revenue for the year ended December 31, 2024, was HKD 244,604,000, a decrease of 12.2% compared to HKD 278,542,000 in 2023[5] - Other income increased significantly to HKD 3,708,000 from HKD 1,427,000, representing a growth of 159.5%[5] - The company reported a loss before tax of HKD 6,312,000, an improvement from a loss of HKD 9,453,000 in the previous year, indicating a reduction in losses by 33.5%[5] - The total comprehensive loss for the year was HKD 8,555,000, compared to HKD 6,745,000 in 2023, reflecting an increase in losses by 27.0%[5] - Basic and diluted loss per share was HKD 1.14, compared to HKD 0.31 in the previous year, indicating a significant increase in loss per share[5] - The group recorded a net loss of HKD 8,487,000 for the year ended December 31, 2024[21] - Revenue from high-end dining decreased to HKD 140,320,000 in 2024 from HKD 165,020,000 in 2023, representing a decline of approximately 15%[25] - Revenue from mid-range dining dropped to HKD 7,532,000 in 2024 from HKD 16,750,000 in 2023, a decrease of about 55%[25] - Total revenue from dining services for 2024 was HKD 244,604,000, down from HKD 278,542,000 in 2023, indicating a decline of around 12%[25] - The pre-tax loss for 2024 was HKD 21,745,000, a decrease of 24.8% from HKD 28,878,000 in 2023[32] - The net loss attributable to the company's owners for the fiscal year ending December 31, 2024, was approximately HKD 6.6 million, an increase of about HKD 4.8 million from a loss of HKD 1.8 million in 2023[60] Assets and Liabilities - Non-current assets decreased to HKD 27,140,000 from HKD 57,663,000, a decline of 53.1%[6] - Current liabilities decreased to HKD 56,094,000 from HKD 71,641,000, a reduction of 21.8%[6] - The company's cash and cash equivalents stood at HKD 9,162,000, down from HKD 10,359,000, a decrease of 11.5%[6] - The total equity attributable to owners of the company was HKD (1,728,000), compared to HKD 775,000 in 2023, indicating a deterioration in equity position[7] - Current liabilities net amount to HKD 28,976,000 and total liabilities net amount to HKD 15,218,000 as of the same date[21] - Non-current assets located in Hong Kong amounted to approximately HKD 15,132,000 in 2024, down from HKD 33,458,000 in 2023, indicating a significant decrease of 54.8%[28] - The company reported a basic and diluted loss per share of HKD 11.40 for 2024, compared to HKD 3.11 in 2023, indicating a significant increase in loss per share[36] - The company reported a net current liability of approximately HKD 29.0 million as of December 31, 2024, compared to HKD 41.6 million in 2023[61] Operational Changes - The company closed two restaurants, "Mak Mak" and "22 Ships," in September and August 2024, respectively, contributing to the revenue decline[55] - The company is focused on expanding its restaurant operations in Hong Kong, as indicated by its strategic initiatives[10] - The group is implementing measures to strengthen cost control over employee expenses to improve working capital and cash flow[24] - The company achieved a significant milestone with five restaurants receiving Michelin one-star ratings, showcasing its commitment to quality and innovation[51] - The rental expenses increased to approximately HKD 24.6 million for the fiscal year ending December 31, 2024, due to a 14.0% increase in revenue at the "Hong Kong Airport Duddell's" location[59] - The company remains optimistic about the recovery of the Hong Kong dining industry in 2025, driven by an increase in visitors[54] Governance and Compliance - The company has adopted a code of conduct for securities trading, ensuring compliance with GEM listing rules[94] - The company has maintained compliance with corporate governance codes, with a commitment to review its governance structure regularly[97] - The roles of the chairman and CEO were separated on February 15, 2024, with Liu Enyu appointed as chairman and Kong Linglei as CEO[98][100] - The company has established a comprehensive internal control and risk management system, which was reviewed by the Audit Committee[107] - The new appointments in the board aim to enhance governance and compliance oversight[104] - The independent auditor confirmed that the figures in the consolidated financial statements are consistent with the amounts reported for the fiscal year ending December 31, 2024[108] Future Outlook and Plans - The group plans to apply new Hong Kong Financial Reporting Standards upon their effective date, with no significant impact expected on the consolidated financial statements in the foreseeable future[14] - The group is assessing the impact of new accounting standards on its consolidated financial statements, particularly regarding performance indicators and additional disclosures[17] - The company plans to utilize proceeds from a previous placement to develop cloud kitchen operations and upgrade sales channels, with approximately HKD 4.5 million (34.1%) allocated for this purpose[78] - The proceeds from a second placement are intended for expanding premium coffee services, with HKD 9.0 million (51.4%) earmarked for this initiative[82] - The company has no major investments or acquisitions planned for the upcoming year[73] Employee and Labor Relations - As of December 31, 2024, the group had 255 employees, a decrease from 380 employees in 2023, with total employee costs for the year amounting to approximately HKD 97.4 million compared to HKD 103.2 million in 2023[83] - The company has not experienced any strikes, work stoppages, or significant labor disputes during the reporting year, maintaining good relations with employees[85] Shareholder and Financial Management - The company did not declare or propose any dividends for the year, consistent with 2023[35] - The company has no bank borrowings as of December 31, 2024, compared to approximately HKD 4.8 million in 2023[61] - The controlling shareholder has confirmed that they will not demand repayment of due amounts until it does not affect the company's ability to repay other obligations[69] - The company has no significant foreign exchange risk exposure as most transactions are settled in Hong Kong dollars[65] - The company has not established an internal audit function as of December 31, 2024, but plans to review the need for it annually[97]

Financial Performance - Revenue for the six months ended June 30, 2024, was HK$122,879,000, a decrease of HK$19,890,000 compared to HK$142,769,000 in the same period of 2023[9]. - The company reported a loss of HK$410,000 for the period, a decline of HK$4,098,000 from a profit of HK$3,688,000 in the previous year[9]. - Profit attributable to owners of the Company was HK$825,000, down from HK$4,330,000, representing a decrease of HK$3,505,000[9]. - Basic earnings per share decreased to HK$0.142 from HK$0.75, a decline of HK$0.608[9]. - Diluted earnings per share also fell to HK$0.140 from HK$0.75, a decrease of HK$0.61[9]. - The Group recorded an unaudited revenue of approximately HK$122.9 million for the six months ended 30 June 2024, representing a decrease of approximately 13.9% compared with the corresponding period in 2023[11]. - The unaudited profit attributable to the owners of the Company was approximately HK$0.8 million for the six months ended 30 June 2024, a decrease of approximately HK$3.5 million compared to the same period in 2023[11]. - The profit before taxation for the six months ended June 30, 2024, was HK$825,000, a decrease from HK$4,330,000 for the same period in 2023, representing a decline of approximately 81%[64]. Operational Efficiency and Strategy - The report indicates that the company is committed to improving its financial performance in the upcoming periods[9]. - The company is exploring new product development and market expansion strategies to enhance revenue streams[9]. - Management is focused on addressing the challenges faced in the current market environment to stabilize operations[9]. - The company plans to enhance its operational efficiency through strategic initiatives and potential partnerships[9]. - Future guidance remains cautious, with an emphasis on monitoring market conditions and adjusting strategies accordingly[9]. - The Group's strategic focus includes market expansion and new product development in the food sector[142]. Cost Management - Staff costs for the period were HK$48.4 million, down from HK$51.3 million in the previous year, indicating a reduction of approximately 5.7%[13]. - Advertising and promotion expenses decreased to HK$3.0 million from HK$4.9 million, reflecting a reduction of approximately 38.5%[14]. - Total staff costs for the six months ended June 30, 2024, amounted to approximately HK$48.4 million, down from approximately HK$51.3 million for the same period in 2023, representing a decrease of about 5.6%[146]. - The closure of "Agora" in October 2023 significantly impacted the Group's revenue and staff costs[113][119]. Assets and Liabilities - As of 30 June 2024, total assets less current liabilities amounted to HK$7.7 million, a decrease from HK$16.0 million as of 31 December 2023[18]. - The Group's net current liabilities were HK$35.8 million, an improvement from HK$41.6 million at the end of the previous year[18]. - As of June 30, 2024, the total liabilities amounted to HK$17,964,000, a decrease from HK$26,844,000 as of December 31, 2023, representing a reduction of approximately 33%[19]. - The net liabilities were reported at HK$(10,226,000) as of June 30, 2024, compared to HK$(10,827,000) at the end of 2023, indicating an improvement of about 5.5%[19]. - The total amount of trade payables aged over 90 days was HK$1,130,000, down from HK$1,542,000, a decrease of approximately 26.7%[89]. - The company reported a total of HK$26,432,000 in trade and other payables as of June 30, 2024, compared to HK$33,068,000 as of December 31, 2023, reflecting a decrease of about 20.1%[84]. Cash Flow - The cash and cash equivalents at the end of the period were HK$6,688,000, down from HK$8,675,000 at the same time last year, reflecting a decrease of approximately 23%[24]. - For the six months ended June 30, 2024, the net cash from operating activities was HK$9,587,000, compared to HK$16,219,000 for the same period in 2023, a decline of about 41%[24]. - The cash used in financing activities was HK$(11,573,000) for the six months ended June 30, 2024, compared to HK$(15,993,000) in the same period of 2023, reflecting a decrease of approximately 27.5%[24]. - The Company reported a net decrease in cash and cash equivalents of HK$(3,671,000) for the period, compared to a decrease of HK$(666,000) in the previous year, indicating a significant increase in cash outflow[24]. Market Performance - Fine dining revenue decreased to HK$67,242,000 from HK$86,538,000, representing a decline of 22.3%[37]. - Mid-market dining revenue decreased to HK$6,116,000 from HK$10,453,000, a decline of 41.5%[37]. - Casual dining revenue increased to HK$49,521,000 from HK$45,778,000, an increase of 12.0%[37]. - The Group remains optimistic about a gradual recovery in the Hong Kong food and beverage industry in Q3 and Q4 2024, driven by an anticipated increase in tourist arrivals[113]. Shareholder Information - The Company granted share options amounting to HK$1,011,000 during the period, contributing to the overall equity changes[22]. - The total equity attributable to owners of the Company decreased to HK$11,558,000 as of June 30, 2024, from HK$11,598,000 at the beginning of the year, a slight decline of about 0.3%[22]. - The Company completed a share consolidation on 25 March 2024, reducing the total number of issued shares from 1,159,780,000 to 579,890,000[130]. - Mr. Peng Ben holds 434,917,500 shares through his controlled corporation, representing approximately 75% of the issued share capital[154]. Corporate Governance - The Audit Committee reviewed the unaudited condensed consolidated results for the six months ended June 30, 2024, and confirmed compliance with applicable accounting standards and GEM Listing Rules[183]. - Ms. Wong Pui Yain resigned as chairperson on February 9, 2024, and ceased to be CEO on February 15, 2024; Mr. Liu Enyu was appointed as chairperson, and Mr. Kong Linglei as CEO[187]. - The Company fully complied with the code provision C.2.1 of the CG Code, separating the roles of chairman and CEO since February 15, 2024[187]. - The Board currently comprises two executive Directors, two non-executive Directors, and three independent non-executive Directors[190].

Financial Performance - The company reported unaudited consolidated revenue for the six months ended June 30, 2024, amounting to HKD 50 million, representing a 20% increase compared to the same period last year[2]. - The Group recorded an unaudited revenue of approximately HK$122.9 million for the six months ended 30 June 2024, representing a decrease of approximately 13.9% compared to the corresponding period in 2023[13]. - For the six months ended June 30, 2024, the Group's revenue from fine dining was HK$67,242,000, a decrease of 22.3% compared to HK$86,538,000 in the same period of 2023[39]. - Mid-market dining revenue decreased to HK$6,116,000, down 41.5% from HK$10,453,000 year-over-year[39]. - Casual dining revenue increased to HK$49,521,000, up 8.3% from HK$45,778,000 in the previous year[39]. - Total revenue for the six months ended June 30, 2024, was HK$122,879,000, a decline of 13.9% compared to HK$142,769,000 in 2023[39]. - The unaudited profit attributable to the owners of the Company was approximately HK$0.8 million for the six months ended 30 June 2024, a decrease of approximately HK$3.5 million compared to the same period in 2023[13]. - Basic earnings per share for the period was HK$0.142, down from HK$0.75 in the same period of 2023, representing a decrease of approximately 81.1%[11]. - Diluted earnings per share for the period was HK$0.140, also down from HK$0.75 in the same period of 2023, reflecting a similar decrease[11]. - For the six months ended June 30, 2024, the profit attributable to owners of the Company was HK$825,000, compared to HK$4,330,000 for the same period in 2023[67]. Operational Efficiency and Cost Management - The management highlighted a focus on improving operational efficiency, targeting a 5% reduction in costs by the end of 2024[2]. - Staff costs for the period were HK$48.4 million, a decrease from HK$51.3 million in the same period of 2023[15]. - Raw materials and consumables used amounted to HK$32.2 million, down from HK$37.9 million in the previous year, indicating a decrease of approximately 15.0%[15]. - Utility expenses for the period were HK$3.5 million, reflecting a decrease compared to the previous year's figure[15]. - Property rentals and related expenses were reported at HK$11.7 million, slightly up from HK$11.0 million in the previous year[15]. Future Outlook and Strategic Initiatives - The company provided a positive outlook for the second half of 2024, projecting a revenue growth of 25% year-over-year[2]. - New product launches are expected to contribute an additional HKD 10 million in revenue by the end of 2024[2]. - Market expansion plans include entering two new regions, which are anticipated to increase market share by 10%[2]. - The company is considering strategic acquisitions to bolster its product offerings and market presence, with a budget of HKD 15 million allocated for potential deals[2]. - The Group remains optimistic about a gradual recovery in the food and beverage industry in Q3 and Q4 2024, driven by an anticipated increase in tourists visiting Hong Kong[115]. Financial Position and Assets - The company's non-current assets decreased from HK$57,663,000 as of December 31, 2023, to HK$43,493,000 as of June 30, 2024, reflecting a reduction of about 24.6%[18]. - Current liabilities net amount improved from HK$41,646,000 at the end of 2023 to HK$35,755,000 by June 30, 2024, showing a decrease of approximately 14.1%[20]. - The total deficit attributable to owners of the company decreased from HK$10,827,000 as of December 31, 2023, to HK$10,226,000 as of June 30, 2024, indicating a reduction of about 5.5%[21]. - The company's cash and bank balances decreased from HK$10,359,000 at the end of 2023 to HK$6,688,000 by June 30, 2024, a decline of approximately 35.0%[20]. - The total assets less current liabilities decreased from HK$16,017,000 as of December 31, 2023, to HK$7,738,000 as of June 30, 2024, reflecting a decline of about 51.7%[20]. Share Capital and Corporate Governance - The company's issued share capital as of June 30, 2024, is 579,890,000 shares[162]. - The share consolidation was approved on March 21, 2024, consolidating every two existing shares into one[101]. - The Group's share capital as of June 30, 2024, was HK$50,000,000, with 2,500,000 shares issued after a consolidation[97]. - The Board does not recommend the payment of a dividend for the six months ended June 30, 2024, consistent with the previous year[13]. - The Audit Committee reviewed the unaudited condensed consolidated results for the six months ended June 30, 2024, ensuring compliance with applicable accounting standards[185]. Employee and Management Changes - As of June 30, 2024, the company employed 297 staff, a decrease from 380 employees as of December 31, 2023[148]. - The company maintains an attractive level of employee remuneration, which is reviewed periodically based on performance and business performance[148]. - Ms. Wong Pui Yain resigned as chairperson on February 9, 2024, and ceased to be CEO on February 15, 2024[189]. - Mr. Liu Enyu has been appointed as the chairman of the Board on February 9, 2024, and Mr. Kong Linglei has been appointed as CEO on February 15, 2024[189]. Market Conditions and Challenges - The Group's business has been affected due to locals in Hong Kong traveling outside the city and a lack of tourists visiting Hong Kong[108]. - The decrease in revenue was primarily due to fewer tourists visiting Hong Kong and the closure of the restaurant "Agora" in October 2023[115].

Financial Performance - The company reported a significant increase in revenue, achieving a total of $150 million, representing a 25% year-over-year growth[7]. - Revenue for the year ended December 31, 2023, was HK$278,542,000, representing a 28.4% increase from HK$217,005,000 in 2022[23]. - Loss before taxation decreased to HK$9,453,000 in 2023 from HK$22,409,000 in 2022, indicating improved financial performance[23]. - The total comprehensive expense for the year attributable to owners of the Company was HK$1,923,000, a significant reduction from HK$19,744,000 in the previous year[23]. - The total deficit increased to HK$10,827,000 in 2023 from HK$2,864,000 in 2022, indicating a worsening financial position[24]. - Loss attributable to owners of the Company decreased by approximately HK$17.9 million, from approximately HK$19.7 million in 2022 to approximately HK$1.8 million in 2023, driven by increased revenue and improved cost margins[66][71]. Market Expansion and Strategy - The company provided an optimistic outlook, projecting a revenue growth of 20% for the next fiscal year, targeting $180 million[7]. - New product launches are expected to contribute an additional $20 million in revenue, with a focus on innovative technology solutions[7]. - The company is expanding its market presence in Southeast Asia, aiming to increase market share by 15% in the region[7]. - The Company plans to establish a high-end Hunan cuisine brand and open branches in multiple areas in Mainland China[32]. - The Company aims to promote Michelin-starred restaurants from Hong Kong to Mainland China, with plans to open branches in several provincial capital cities[32]. Research and Development - The company is investing $5 million in research and development for new technologies aimed at improving user experience[7]. - Additional investment will be made in the R&D department to hire product experts and food and beverage professionals to develop new products[35]. Operational Efficiency - The management highlighted a 10% reduction in operational costs due to efficiency improvements[7]. - The Group successfully operated eight brand restaurants during the year, including award-winning establishments such as Estro, MONO, and Duddell's[44]. - The cost margin of "Duddell's Hong Kong Airport" was maintained steadily at around 22.6%, which is lower than the average compared to other outlets[58]. Corporate Governance - The board of directors confirmed their commitment to corporate governance and compliance with GEM Listing Rules[7]. - The Group is committed to high standards of corporate governance and has complied with the Corporate Governance Code, except for a deviation regarding the roles of chairman and CEO[135]. - The Board consists of seven Directors, including two executive Directors, two non-executive Directors, and three independent non-executive Directors[155]. - The independent non-executive Directors actively participate in various committees, including the Audit Committee and Remuneration Committee, ensuring high standards in financial reporting[171][173]. Leadership and Management - Mr. Kong Linglei was appointed as the Chief Executive Officer on February 15, 2024, bringing experience from the catering and media sectors[113]. - The appointment of new directors in February 2024 reflects a strategic shift towards strengthening leadership and operational capabilities[113]. - The management team includes individuals with advanced training in market risk management and corporate compliance, indicating a strong governance framework[116]. Stakeholder Engagement and Social Responsibility - The Group acknowledges the importance of stakeholders and strives to meet market needs to foster sustainability[145]. - The company is actively engaging in public welfare initiatives through its board members, enhancing its corporate social responsibility profile[126]. Financial Position and Liabilities - As of December 31, 2023, the Group recorded net current liabilities of approximately HK$41.6 million, down from HK$50.7 million in 2022[67][72]. - The Group's current ratio remained at approximately 0.4 for both 2023 and 2022, while the gearing ratio improved to approximately -607.4% in 2023 from -2,349.4% in 2022[68][72]. - The Group did not have any capital commitments or material contingent liabilities as of December 31, 2023[88][89]. Board Diversity and Composition - The Board diversity policy aims for gender parity and considers various aspects such as age, cultural background, and professional experience in its composition[182]. - The workforce comprises 56.3% female and 43.7% male, demonstrating the company's commitment to gender equality principles[192]. - The Board's composition reflects a strategic focus on diverse industry experience and governance capabilities[128].

Financial Performance - The company's total revenue for the year ended December 31, 2023, was HKD 278,542,000, representing an increase of 28.5% compared to HKD 217,005,000 in 2022[5] - Other income decreased significantly to HKD 1,427,000 from HKD 14,422,000, a decline of 90.1%[5] - The total comprehensive loss for the year was HKD 6,618,000, a substantial improvement from a loss of HKD 23,000,000 in the previous year, indicating a reduction of 71.2%[5] - The company reported a loss before tax of HKD 9,453,000, which is an improvement from a loss of HKD 22,409,000 in the previous year[5] - Basic loss per share improved to HKD (0.31) from HKD (3.40), indicating a significant recovery[5] - The financial performance indicates a positive trend, with a notable reduction in losses and increased revenue growth[5] - The group reported a net loss of HKD 6,618,000 for the fiscal year ended December 31, 2023, with current liabilities exceeding current assets by HKD 41,646,000[50] - The pre-tax loss for 2023 was HKD 28,878,000, down from HKD 34,250,000 in 2022, indicating an improvement of about 15.6%[35] - The income tax expense for 2023 was reported as a net credit of HKD (2,835,000), compared to a tax expense of HKD 591,000 in 2022[36] Revenue Breakdown - Revenue from high-end dining services increased to HKD 165,020,000 in 2023, up from HKD 152,503,000 in 2022, representing a growth of approximately 8.3%[27] - Revenue from casual dining services surged to HKD 96,772,000 in 2023, compared to HKD 35,796,000 in 2022, indicating a significant increase[27] - The group recorded revenue of approximately HKD 278.5 million for the year ended December 31, 2023, an increase of about HKD 61.5 million or 28.4% compared to HKD 217.0 million in 2022[57] Cost and Expenses - The cost of materials and consumables increased to HKD 74,120,000 from HKD 60,672,000, reflecting a rise of 22.1%[5] - Employee costs rose to HKD 103,204,000, up from HKD 91,866,000, marking an increase of 12.3%[5] - Property rental and related expenses rose from approximately HKD 10.5 million for the year ended December 31, 2022, to approximately HKD 23.3 million for the year ended December 31, 2023, an increase of about HKD 12.8 million[61] - Total financing costs decreased from HKD 3,185,000 in 2022 to HKD 2,926,000 in 2023, representing a reduction of approximately 8.1%[32] Assets and Liabilities - Total assets decreased from HKD 69,937 thousand in 2022 to HKD 57,663 thousand in 2023, a decline of approximately 17.5%[6] - Current liabilities decreased from HKD 79,361 thousand in 2022 to HKD 71,641 thousand in 2023, a reduction of about 9.5%[7] - The company's total equity attributable to owners decreased from HKD 2,698 thousand in 2022 to HKD 775 thousand in 2023, a decline of about 71.3%[7] - The company's non-current liabilities decreased from HKD 22,060 thousand in 2022 to HKD 26,844 thousand in 2023, an increase of approximately 21.6%[7] - Current liabilities exceeded current assets by HKD 41,646,000, with a net debt of HKD 10,827,000 as of December 31, 2023[22] Strategic Focus and Future Outlook - The company plans to focus on market expansion and new product development in the upcoming year[5] - The group anticipates challenges in the economic outlook for 2024 due to rising global inflation and local economic slowdown[20] - The group plans to continue adopting a conservative and prudent business strategy to maintain sufficient cash flow and explore other business opportunities[54] - The group anticipates a gradual recovery in the Hong Kong dining industry in 2024, driven by an expected increase in inbound tourists[56] Corporate Governance - The company has confirmed compliance with corporate governance standards throughout the year ending December 31, 2023[105] - The company has adopted a set of behavioral standards for directors that meet or exceed GEM listing rules[102] - The company will separate the roles of Chairman and CEO starting February 15, 2024, ensuring compliance with corporate governance guidelines[107] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the consolidated financial results for the fiscal year ending December 31, 2023[115] - The independent auditor confirmed that the figures in the consolidated financial statements are consistent with the amounts reported for the fiscal year ending December 31, 2023[116] Shareholder Information - No dividends were declared or proposed for ordinary shareholders during the year, consistent with 2022[37] - The company sold 702,020,000 shares, representing approximately 60.53% of the total issued share capital, for a total price of HKD 54,476,752, equating to approximately HKD 0.0776 per share[87] - Following the offer's closure on February 9, 2024, the public held a total of 284,580,000 shares, which is about 24.54% of the total issued share capital[89] - The company applied for a temporary exemption from the GEM listing rules regarding public float requirements from February 9, 2024, to April 11, 2024[90]

Financial Performance - The Group recorded an unaudited revenue of approximately HK$206.0 million for the nine months ended 30 September 2023, representing an increase of approximately 33.5% compared to the corresponding period in 2022[16]. - The Group's unaudited profit attributable to owners of the Company was approximately HK$2.0 million for the nine months ended 30 September 2023, an increase of approximately HK$10.1 million compared to a loss of approximately HK$8.1 million for the same period in 2022[16]. - Earnings per share improved to HK$0.18 for the nine months ended 30 September 2023, compared to a loss of HK$0.70 per share in the corresponding period of 2022, reflecting a positive change of HK$0.88[15]. - Revenue for the three months ended September 30, 2023, was HK$63,253,000, representing an increase of 6.5% compared to HK$59,328,000 for the same period in 2022[18]. - For the nine months ended September 30, 2023, revenue reached HK$206,022,000, up 33.4% from HK$154,361,000 in the previous year[18]. - The company reported a loss before taxation of HK$3,431,000 for the third quarter of 2023, compared to a profit of HK$3,574,000 in the same quarter of 2022[18]. - Total comprehensive loss attributable to owners of the Company for the nine months ended September 30, 2023, was HK$8,065,000, compared to a loss of HK$9,377,000 in the same period of 2022[19]. - Basic and diluted loss per share for the third quarter of 2023 was HK$0.20, compared to earnings of HK$0.31 per share in the third quarter of 2022[18]. Revenue Breakdown - Fine dining revenue for the nine months ended September 30, 2023, was HK$121,190,000, up 12.1% from HK$108,133,000 in 2022[34]. - Casual dining revenue surged to HK$71,207,000 for the nine months ended September 30, 2023, compared to HK$24,102,000 in 2022, marking an increase of 195.5%[34]. - The revenue from "Duddell's Hong Kong Airport" was approximately HK$43.8 million during the period after resuming operations in late November 2022[71]. Expenses and Costs - Staff costs increased to HK$26,021,000 for the three months ended September 30, 2023, from HK$24,368,000 in the same period of 2022, reflecting a rise of 6.8%[18]. - The company incurred property rentals and related expenses of HK$5,944,000 in the third quarter of 2023, significantly higher than HK$2,318,000 in the same quarter of 2022[18]. - Staff costs increased to HK$77,343,000 for the nine months ended September 30, 2023, up from HK$67,353,000 in the previous year, reflecting a rise of approximately 14%[54]. - Property rentals and related expenses increased by approximately HK$9.8 million to approximately HK$17.0 million for the nine months ended September 30, 2023, mainly due to payable turnover rent for "Duddell's Hong Kong Airport"[80]. Corporate Governance and Management - The Company has complied with the corporate governance code provisions during the review period, except for the separation of the roles of chairman and chief executive officer[143]. - The Company believes that having the same individual serve as both chairman and CEO is in the best interest of effective management and business development[143]. - The Board will continue to review the appropriateness of the current management structure and consider splitting the roles when suitable[143]. - The Company has engaged consultants to provide strategic advice, with share options granted as part of their remuneration to incentivize continued service[136]. - The Company aims to maintain high corporate governance standards and will continuously improve its practices[143]. Share Capital and Options - As of September 30, 2023, the issued share capital of the Company is 1,159,780,000 shares[107]. - Ms. Wong Pui Yain holds a total of 543,446,000 shares, representing approximately 46.86% of the issued share capital[105]. - The Share Option Scheme was conditionally adopted on January 23, 2018, to attract and retain personnel for business development[120]. - The Company had 11,350,000 options outstanding under the Share Option Scheme as of September 30, 2023, representing approximately 0.98% of the Company's issued shares[140]. - No share options were exercised, lapsed, or cancelled during the nine months ended September 30, 2023[139]. Strategic Initiatives and Market Outlook - The Group will continue to adopt conservative and prudent business strategies to maintain sufficient cash flow and explore other business opportunities[69]. - Despite the recovery of the travel industry, the Group remains conservative in its outlook and will make steady progress according to its business plans[70]. - The government’s easing of social distancing measures and border reopening significantly improved JIA Group's business performance compared to the previous year[61]. - JIA Group launched a loyalty program in September 2023 to reward its most loyal customers[69]. - Ramato closed its doors in August 2023 to cease consistent losses, reflecting the challenging economic environment[69]. Taxation and Compliance - Current tax expense for the nine months ended September 30, 2023 was HK$158,000, compared to HK$87,000 in the same period of 2022, indicating an increase of approximately 81%[48]. - The Group has technically breached certain bank loan covenants due to failure to meet specific financial criteria, but lenders have not demanded immediate repayment[97]. - The Group is in communication with banks to resolve the breach of bank covenants to maintain existing loan facilities[97]. Other Financial Metrics - Other income for the nine months ended September 30, 2023, was HK$1,702,000, down from HK$13,450,000 in the previous year, indicating a decline of 87.3%[18]. - Interest income on bank deposits for the nine months ended September 30, 2023, was HK$46,000, up from HK$15,000 in 2022[41]. - Finance costs for the three months ended September 30, 2023, totaled HK$410,000, a decrease of 25.6% from HK$551,000 in the same period of 2022[43]. - Interest on lease liabilities for the nine months ended September 30, 2023, was HK$1,072,000, down 32.4% from HK$1,586,000 in 2022[43].

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，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 Jia Group Holdings Limited 佳民集團有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8519） 截至2023年9月30日止九個月 之第三季度業績公告 佳民集團有限公司（「本公司」）之董事（「董事」）會（「董事會」）欣然公告本公司 及其附屬公司截至2023年9月30日止九個月之未經審核業績。本公告載有本公 司2023年第三季度報告全文，符合香港聯合交易所有限公司（「聯交所」）GEM證 券上市規則（「GEM上市規則」）有關隨附第三季度業績初步公告的資料的相關規 定。本公司2023年第三季度報告印刷本將於適當時候寄發予本公司股東，並於聯 交所網站www.hkexnews.hk及本公司網站www.jiagroup.co可供查閱。 承董事會命 佳民集團有限公司 主席 黃佩茵 香港，2023年11月13日 ...

Financial Performance - The company reported a revenue increase of 15% year-over-year for the six months ended June 30, totaling $50 million[25]. - The Group recorded an unaudited revenue of approximately HK$142.8 million for the six months ended 30 June 2023, representing an increase of approximately 50.2% compared to HK$95.0 million for the corresponding period in 2022[27]. - Profit attributable to owners of the Company was approximately HK$4.3 million for the six months ended June 30, 2023, representing an increase of approximately HK$16.0 million compared to a loss of approximately HK$11.7 million for the same period in 2022[121]. - Earnings per share for the six months ended June 30, 2023 was HK$0.37, compared to a loss of HK$1.01 per share for the corresponding period in 2022, reflecting a turnaround in performance[31]. - The Group's total comprehensive income for the period attributable to owners of the Company was HK$4.3 million, compared to a loss of HK$11.7 million for the same period in 2022[31]. Revenue Breakdown - Revenue from fine dining increased to HK$86,538,000 for the six months ended June 30, 2023, up from HK$66,631,000 in the previous year, representing a growth of 30%[53]. - Casual dining revenue surged to HK$45,778,000 for the six months ended June 30, 2023, compared to HK$15,144,000 in 2022, marking a remarkable increase of 203%[53]. - The Group's revenue from fine dining catering services increased by approximately 29.9%, driven by "Duddell Central" which contributed an increase of approximately HK$14.1 million[99]. - Revenue from mid-market dining and casual dining services rose by approximately 22.5% and 202.3% respectively, attributed to the relaxation of social distancing measures and immigration controls[100]. Operational Efficiency - Cash flow from operations increased by 22%, totaling $12 million, indicating strong operational efficiency[25]. - Operating margin improved to 12%, up from 10% in the previous year, reflecting better cost management[25]. - The net cash from operating activities for the six months ended June 30, 2023, was HK$ 16,219 thousand, compared to HK$ 8,192 thousand for the same period in 2022, reflecting a significant increase of 97.5%[39]. Strategic Initiatives - The company completed a strategic acquisition of a smaller competitor for $10 million, expected to enhance its product offerings[25]. - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in market share by the end of the fiscal year[25]. - The company plans to implement a new marketing strategy aimed at increasing brand awareness, with a budget allocation of $2 million[25]. - The Group plans to seek potential business opportunities to broaden income sources and enhance shareholder value[109]. Cost Management - Research and development expenses increased by 18%, amounting to $5 million, focusing on innovative technologies[25]. - Staff costs rose to HK$51.3 million for the six months ended June 30, 2023, up from HK$43.0 million in the previous year[31]. - Raw materials and consumables used increased to HK$37.9 million for the six months ended June 30, 2023, compared to HK$26.7 million for the same period in 2022[31]. Assets and Liabilities - The Group's total current assets as of 30 June 2023 amounted to HK$30.6 million, an increase from HK$28.6 million as of 31 December 2022[32]. - Non-current assets decreased to HK$62.3 million as of 30 June 2023 from HK$69.9 million as of 31 December 2022, primarily due to depreciation[32]. - The net current liabilities decreased to HK$ (41,907) thousand from HK$ (50,741) thousand as of December 31, 2022, representing a reduction of approximately 17.5%[34]. - The total assets less current liabilities increased to HK$ 20,358 thousand in June 2023, up from HK$ 19,196 thousand in December 2022, indicating a growth of about 6.1%[34]. Shareholder Information - The total share capital remained stable at HK$11,598,000 as of June 30, 2023, with 1,159,780,000 shares issued and fully paid[93]. - Ms. Wong Pui Yain holds a total of 540,446,000 shares, representing approximately 46.60% of the shareholding[184]. - The interests of substantial shareholders and other persons in shares and underlying shares are recorded under section 336 of the SFO[191]. - The Company aims to provide additional incentives to Qualifying Grantees through the Share Option Scheme[199]. Compliance and Governance - The audit committee has reviewed the unaudited financial statements, ensuring oversight and compliance with financial reporting standards[49]. - The Company maintains compliance with the required standards of dealings by directors as per GEM Listing Rules[187]. - The Group has not yet adopted new and revised standards that are not effective, and is currently assessing their potential impact[48].

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，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 Jia Group Holdings Limited 佳民集團有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8519） 截至2023年6月30日止六個月之中期業績公告 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位乃為相比起其他在聯交所上市的公司帶有較高投資風險的中小型公司 提供一個上市的市場。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上市公司一般為中小型公司，在GEM買賣的證券可能會較於主板買賣 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 提供有關佳民集團有限公司（「本公司」）的資料；本公司的董事（「董事」）願就本 公告的資料共同及個別地承擔全部責任。各董事在作出一切合理查詢後，確認就 其所知及所信，本 ...