Financial Performance - The company reported a significant increase in revenue, achieving a total of $150 million, representing a 25% growth year-over-year[2]. - The Group recorded an unaudited revenue of approximately HK$98.9 million for the six months ended 30 June 2021, representing an increase of approximately 18.1% compared to HK$83.7 million for the corresponding period in 2020[23]. - Revenue for the six months ended June 30, 2021, was HK$98,873,000, an increase of 18.2% compared to HK$83,710,000 for the same period in 2020[56]. - Fine dining revenue increased to HK$58,179,000 for the six months ended June 30, 2021, up 41.9% from HK$41,005,000 in 2020[56]. - Casual dining revenue decreased to HK$18,527,000 for the six months ended June 30, 2021, down 38.5% from HK$30,051,000 in 2020[56]. - The Group's revenue from fine dining catering services increased approximately by 28.7% to HK$32.7 million in Q2 2021, compared to HK$25.4 million in Q1 2021[116]. - The casual dining brands "Bibi & Baba" and "MakMak" achieved a revenue increase of approximately 31.0%, reaching HK$6.4 million, up from HK$4.9 million in the previous quarter[121]. Profitability and Loss - The unaudited loss attributable to the owners of the Company was approximately HK$6.6 million for the six months ended 30 June 2021, a decrease of approximately HK$7.5 million from a loss of approximately HK$14.1 million for the same period in 2020[24]. - The company reported a total comprehensive loss of HK$14,111,000 for the period[38]. - For the six months ended June 30, 2021, the profit before taxation was HK$6,571,000, compared to a loss of HK$14,111,000 for the same period in 2020, indicating a significant improvement[64]. - The company reported a profit attributable to owners of HK$297,000 for the three months ended June 30, 2021, compared to a loss of HK$1,652,000 in the same period of 2020[71]. Cash Flow and Liquidity - For the six months ended June 30, 2021, the net cash from operating activities was HK$3,594,000, a decrease of 66.8% compared to HK$10,828,000 in the same period of 2020[42]. - The net cash generated from financing activities increased significantly to HK$15,328,000 from HK$2,045,000 year-on-year[42]. - The cash and cash equivalents at the end of the period stood at HK$31,303,000, compared to HK$15,018,000 at the end of the previous period[42]. - The Group recorded net current liabilities of approximately HK$23.6 million as at 30 June 2021, down from HK$46.0 million as at 31 December 2020[138]. - The Group's current ratio improved to approximately 0.7 as at 30 June 2021, compared to 0.5 as at 31 December 2020[138]. - The Group's gearing ratio decreased to approximately 241.2% as at 30 June 2021 from 399.2% as at 31 December 2020[138]. - The Group maintained a healthy liquidity position with a prudent financial management approach as of June 30, 2021[30]. Investments and Capital Expenditure - The company is investing $10 million in research and development for new technologies aimed at enhancing user experience[2]. - The Group has entered into a limited partnership agreement with FTW Ventures II GP, LLC to invest in start-ups, particularly in food and agricultural technologies[121]. - As of June 30, 2021, the Group had a capital commitment of HK$7.2 million for the renovation of a new restaurant, Estro, set to open in September 2021[148]. - The Group completed a placing of new shares on June 18, 2021, with proceeds intended for cloud kitchen business development and sales channel upgrades[155]. Market Strategy and Outlook - The company provided an optimistic outlook, projecting a revenue growth of 20% for the next quarter, targeting $180 million[2]. - Market expansion plans include entering two new regions, which are anticipated to increase market share by 15%[2]. - The Group is focusing on a multi-brand strategy to enhance market penetration and maintain its leading position in the industry[127]. - The Group is re-evaluating its brand positioning to better cater to dining trends in mainland China and is focusing on optimizing the brand "Jia" for potential development in the Greater Bay area[120]. - The Group anticipates that economic activities will take time to recover due to ongoing international travel restrictions, but lower rental and labor costs may provide new growth opportunities[126][131]. Shareholder Information - The Group issued a total of 134,280,000 ordinary shares at a price of HK$0.135 each in June 2021, raising approximately HK$18.1 million[109]. - The total interest of Ms. Wong Pui Yain in Shares is 509,516,000, which includes various holdings and options[197]. - The interests of directors and chief executives in the shares of the company were reported as of June 30, 2021[184]. - The Group's total issued and fully paid ordinary shares increased to 1,166,190,000 as of June 30, 2021[105]. Operational Efficiency - Operating margin improved to 15%, up from 10% in the previous year, reflecting better cost management[2]. - Customer retention rate increased to 85%, up from 75% last year, showcasing improved customer satisfaction[2]. - Staff costs, including directors' remuneration, increased to HK$40,854,000 for the six months ended June 30, 2021, from HK$40,590,000 in 2020, reflecting a rise of 0.65%[64]. - Total operating expenses for the six months ended June 30, 2021, were HK$14,374,000, up from HK$10,248,000 in 2020, representing an increase of 40.5%[62]. Compliance and Governance - The audit committee has reviewed the unaudited condensed consolidated results for the six months ended June 30, 2021[181]. - The directors confirmed compliance with the required standard of dealings regarding securities transactions during the review period[181]. - The company has not disclosed any significant events or material changes after the reporting period[180].

Financial Performance - The Group recorded an unaudited revenue of approximately HK$43.6 million for the three months ended March 31, 2021, representing a decrease of approximately 4.2% compared to HK$45.5 million for the same period in 2020[13]. - The Group's unaudited loss for the period was approximately HK$7.2 million, a decrease of approximately HK$5.2 million or 41.9% compared to a loss of approximately HK$12.5 million for the same period in 2020[14]. - Loss per share improved to HK$0.67 for the three months ended March 31, 2021, compared to HK$1.45 for the same period in 2020[13]. - The total comprehensive expense for the period attributable to owners of the Company was approximately HK$6.9 million, down from HK$12.5 million in the previous year[21]. - The Group's loss before taxation was approximately HK$7.2 million, compared to HK$12.4 million for the same period in 2020[21]. - The loss attributable to owners of the Company for the three months ended March 31, 2021 was HK$6,868,000, compared to a loss of HK$12,459,000 for the same period in 2020, representing a 44.8% improvement[66]. - The Group's total comprehensive expense for the period ended 31 March 2021 was HK$87,740,000, compared to HK$80,872,000 for the period ended 1 January 2021[25]. - The Group's loss for the period ended 31 March 2021 was HK$16,305,000, an increase from a loss of HK$1,865,000 for the period ended 1 January 2021[25]. Revenue Breakdown - For the three months ended 31 March 2021, the Group's revenue from fine dining was HK$25,437,000, an increase from HK$19,357,000 in the same period of 2020, representing a growth of 31.8%[39]. - Casual dining revenue decreased significantly to HK$8,249,000 from HK$18,302,000, reflecting a decline of 54.9% year-over-year[39]. - The Group's revenue from mid-market dining was HK$5,793,000, down 26.3% from HK$7,856,000 in the previous year[39]. - Specialty coffee revenue was HK$4,131,000, with no revenue reported in the same period of the previous year[39]. - Revenue from high-end catering services increased by 31.4% to HK$25.4 million compared to HK$19.4 million in the same period last year[71]. - Revenue generated from "Louise" and "Duddell's" increased by 10.3% compared to the first quarter of 2020[71]. - "Between" recorded a revenue of HK$4.1 million despite being opened in November 2020, indicating strong market performance[71]. Cost Management - Staff costs decreased to approximately HK$19.8 million from HK$23.1 million in the previous year, reflecting a reduction of about 14.0%[21]. - Depreciation expenses decreased to approximately HK$7.7 million from HK$8.9 million, indicating a reduction of about 12.9%[21]. - Property rentals and related expenses significantly decreased to approximately HK$1.9 million from HK$7.3 million, a reduction of approximately 73.8%[21]. - Raw materials and consumables used amounted to approximately HK$12.4 million, representing 28.4% of total revenue for the period, compared to 25.0% in the previous year[80]. - The decrease in loss was mainly due to reductions in staff costs, depreciation, and property rentals and related expenses[83]. Corporate Governance - The company has established an audit committee to review financial reports and internal controls, comprising three independent non-executive directors[88]. - The company has adopted a code of conduct for directors' securities transactions, ensuring compliance with GEM Listing Rules[88]. - The Company has complied with the corporate governance code provisions, except for the separation of the roles of chairman and chief executive officer, which are held by Ms. Wong Pui Yain[128]. - The Company is committed to maintaining high corporate governance standards and will continuously review its practices[128]. - The Company emphasizes transparency and timely disclosure of corporate information to enhance investor relations[129]. Shareholding Structure - As of March 31, 2021, Ms. Wong Pui Yain holds 409,670,000 shares through a controlled corporation, representing 39.70% of the total shareholding[89]. - Ms. Wong Pui Yain also has a beneficial ownership of 77,356,000 shares, which accounts for 7.50% of the total shareholding[89]. - The shareholding structure indicates significant control by a few key individuals and entities[106][115]. - The company has disclosed no other interests or short positions in shares or debentures as of March 31, 2021[107][108]. Future Outlook - The Group is confident in creating new market opportunities and reaching new heights in the future[80]. - The Group plans to further consolidate and expand its brand and sales networks, launching additional "star brands" to enhance market penetration[78]. - The Group is investing more resources in advanced technology systems and big data applications to improve efficiency and promote sustainable development[78]. - The Board will proactively seek potential business opportunities to broaden the Group's income sources and enhance shareholder value[134].

Financial Performance - The company reported a consolidated profit of $10 million for the fiscal year, representing a 15% increase compared to the previous year[8]. - As of December 31, 2020, the Group recorded a revenue of approximately HK$173.3 million, a decrease of 20.4% compared to HK$217.7 million in 2019[25]. - Losses attributable to owners of the Company for the year were HK$20.4 million, compared to a loss of HK$32.0 million in 2019[25]. - Revenue for the year ended December 31, 2020, was HK$173,303,000, a decrease of 20.4% from HK$217,738,000 in 2019[33]. - Loss before taxation improved to HK$19,737,000 in 2020 from HK$31,697,000 in 2019, reflecting a reduction of 37.7%[33]. - Other income increased significantly by approximately HK$17.2 million to approximately HK$21.3 million, mainly due to one-off subsidies from the Hong Kong Government totaling approximately HK$19.4 million[63]. - Loss attributable to owners of the Company was approximately HK$20.4 million for the year ended 31 December 2020, a decrease in loss of approximately HK$11.6 million compared to HK$32.0 million in 2019[66]. - Excluding one-off government subsidies, the loss attributable to owners would have been approximately HK$39.8 million, an increase of approximately HK$7.8 million compared to 2019[66]. User Growth and Market Expansion - User data showed a growth of 25% in active users, reaching a total of 500,000 by the end of the year[8]. - Market expansion efforts have led to a 40% increase in market share in the Asia-Pacific region[8]. - The Group aims to pursue a multi-brand and multi-concept strategy to expand into more market segments[27]. Product Development and Innovation - New product launches contributed to a 30% increase in sales, with the introduction of two major products in Q4[8]. - The company is investing $2 million in research and development for new technologies aimed at enhancing user experience[8]. - A new strategic partnership was established with a leading tech firm to co-develop innovative solutions[8]. - The Group transformed its existing central kitchen in Fo Tan into a cloud kitchen as part of a long-term expansion strategy[25]. - The Group created three virtual brands to offer Cantonese dim sum, Cantonese stir fry, and Thai curry, as part of the cloud kitchen initiative[48]. Cost Management and Operational Adjustments - The company has implemented cost-cutting measures that are expected to save approximately $1 million annually[8]. - The Group closed several underperforming restaurants and implemented cost control measures in response to the COVID-19 pandemic[66]. - Staff costs decreased by approximately HK$11.5 million to approximately HK$81.1 million in 2020, primarily due to a reduction in the number of staff as a cost control measure[63]. Corporate Governance - The Company has complied with all applicable code provisions of the Corporate Governance Code, except for a deviation regarding the roles of chairperson and chief executive officer[122]. - The Board consists of 5 Directors, including 2 executive Directors and 3 independent non-executive Directors, ensuring a balance of skills and experience[128]. - The Board is responsible for formulating the Group's overall strategies and supervising management performance[124]. - The Company established a nomination committee on 23 January 2018 to ensure compliance with corporate governance codes[169]. - The Company complies with the "Comply or Explain" principle in its corporate governance report[182]. Financial Position and Liquidity - Total assets increased to HK$138,056,000 in 2020, up from HK$120,140,000 in 2019, representing a growth of 14.9%[33]. - The Group's total liabilities rose to HK$114,518,000 in 2020, compared to HK$90,965,000 in 2019, an increase of 26.0%[33]. - The Group recorded net current liabilities of approximately HK$46.0 million as at 31 December 2020, an increase from HK$39.7 million in 2019[87]. - The current ratio of the Group was approximately 0.5 as at 31 December 2020, unchanged from 2019[87]. - The Group has sufficient working capital for its operations, but may require financial support if liquidity deteriorates due to prolonged COVID-19 impacts[90]. Management and Leadership - The Group's business is rapidly expanding under the leadership of Ms. Wong Pui Yain, who serves as both chairperson and chief executive officer[122]. - The management is responsible for the day-to-day operations of the Group and must report significant matters to the Board for prior approval[124]. - All Directors are committed to continuous professional development to maintain informed contributions to the Board[147]. Shareholder Engagement - The Company's AGM is scheduled for May 24, 2021, to facilitate ongoing communication with shareholders[196]. - The Company maintains an open investor communication policy to update investors on relevant business information[191]. - The Company encourages shareholders to propose candidates for election as Directors, with procedures available on its website[199].

Financial Performance - The Group recorded an unaudited revenue of approximately HK$123.0 million for the nine months ended 30 September 2020, representing a decrease of approximately 19.3% compared to HK$152.4 million for the same period in 2019[13]. - The unaudited loss attributable to owners of the Company was approximately HK$15.1 million for the nine months ended 30 September 2020, a decrease in loss of approximately HK$5.5 million compared to a loss of approximately HK$20.6 million for the same period in 2019[14]. - Loss per share for the nine months ended 30 September 2020 was HK$1.74, compared to HK$2.39 for the same period in 2019, indicating an improvement[13]. - Revenue for the third quarter ended 30 September 2020 was HK$39.1 million, down from HK$49.0 million in the same quarter of 2019, reflecting a decline of approximately 20.0%[22]. - Total comprehensive expense for the period attributable to owners of the Company was HK$15.1 million for the nine months ended 30 September 2020, compared to HK$20.6 million for the same period in 2019[22]. - The Group's loss before taxation for the nine months ended 30 September 2020 was HK$14.5 million, compared to HK$20.2 million for the same period in 2019, indicating a reduction in losses[22]. - The total comprehensive expense for the nine months ended September 30, 2020, was HK$80,984,000, compared to HK$63,352,000 for the same period in 2019, reflecting an increase of approximately 27.0%[27]. - The loss for the nine months ended 30 September 2020 was HK$15,071,000, compared to a loss of HK$20,586,000 for the same period in 2019[60]. - Excluding one-off government subsidies, the Company would have recorded a loss of approximately HK$28.1 million for the nine months ended September 30, 2020, representing an increase in loss of approximately HK$7.5 million compared to the previous year[86]. Revenue Breakdown - Revenue from restaurant operations includes income from catering services and membership fees, with detailed revenue breakdowns provided in the financial statements[38]. - Revenue from catering services for the three months ended 30 September 2020 was HK$39,103,000, a decrease of 19.5% compared to HK$48,623,000 for the same period in 2019[41]. - Total revenue for the nine months ended 30 September 2020 was HK$122,994,000, down 19.2% from HK$152,421,000 in the same period of 2019[41]. - Membership fee income for the nine months ended 30 September 2020 was HK$181,000, compared to HK$392,000 for the same period in 2019, reflecting a decline of 53.8%[41]. - The Group's revenue breakdown by cuisine type showed that Asian restaurants contributed approximately 49.4% of total revenue, while European cuisine accounted for 50.6% for the nine months ended September 30, 2020[81]. Operating Expenses - The Group's total operating expenses decreased, with staff costs for the nine months ended 30 September 2020 at HK$59.5 million, down from HK$66.8 million in 2019[22]. - The Group's finance costs for the nine months ended 30 September 2020 were HK$1.6 million, a decrease from HK$3.3 million in the same period of 2019[22]. - Staff costs decreased by approximately HK$7.3 million from HK$66.8 million in the nine months ended September 30, 2019, to approximately HK$59.5 million in 2020, primarily due to a reduction in the number of restaurant staff[84]. - The Group implemented cost control measures, including offering no-pay leave to employees, to manage expenses during the COVID-19 pandemic[83]. - The Company has implemented cost-saving initiatives to reduce expenses related to rentals, raw materials, and other operating costs[68]. Corporate Governance - The Company has adopted a code of conduct for directors' securities transactions, ensuring compliance with GEM Listing Rules[92]. - The company is committed to high corporate governance standards and has complied with the CG Code, except for the deviation regarding the roles of chairman and CEO[121]. - The company maintains a policy of open and timely disclosure of corporate information to enhance investor relations[122]. - The corporate website provides an effective communication platform for shareholders and the public, ensuring transparency[125]. - The company will continue to review the separation of the roles of chairman and CEO as appropriate[121]. Future Plans and Strategies - The Company plans to expand into more market segments through a multi-brand and multi-concept strategy, focusing on light meal cuisines which have shown higher operating profits[68]. - The Company intends to enhance its sales and supply chain capabilities by upgrading its ordering platform, JIA Everywhere, and developing a cloud kitchen[68]. - The Company is exploring investment opportunities in the food technology industry, targeting companies with innovative business models and growth potential[68]. - The Group plans to continue monitoring market conditions and adjusting its strategies accordingly to navigate the ongoing challenges posed by the pandemic[86]. - The Board will proactively seek potential business opportunities to broaden income sources and enhance shareholder value[173]. Shareholding Structure - Ms. Wong Pui Yain holds a total of 409,670,000 shares, representing 39.70% of the Company's issued share capital[95]. - Ms. Wong Pui Yain also has a beneficial interest in 66,816,000 shares and her spouse holds 2,880,000 shares, totaling 69,696,000 shares or 6.75%[95]. - Mr. Wee Keng Hiong, Tony holds 1,000,000 shares, which is 0.10% of the Company's issued share capital[95]. - Giant Mind International Limited, controlled by Ms. Wong Pui Yain, holds 39.70% of the Company's issued shares[101]. - As of September 30, 2020, no other Directors or the chief executive had interests or short positions in the shares or debentures of the Company[102]. Operational Context - The Group's operations were affected by the COVID-19 outbreak, leading to a significant reduction in customer visits to restaurants[84]. - As of September 30, 2020, all restaurants have resumed operations with extended business hours until midnight, following the easing of social distancing measures in Hong Kong[68]. - The Group's operations are solely based in Hong Kong, with no geographical expansion reported for the nine months ended 30 September 2020[42]. - The Group has only one operating segment, which is the management of restaurants in Hong Kong, with no further segment analysis provided[42].

Financial Performance - The company reported a revenue increase of 15% year-over-year, reaching $150 million for the quarter[13]. - The company projects a revenue guidance of $160 million for the next quarter, indicating a 7% increase[13]. - The Group recorded an unaudited revenue of approximately HK$83.9 million for the six months ended 30 June 2020, representing a decrease of approximately 18.9% compared to HK$103.5 million for the same period in 2019[24]. - The Group's total revenue for the three months ended June 30, 2020, was HK$38.26 million, down from HK$47.51 million in the same period of 2019, representing a decline of 19.5%[63]. - The decrease in revenue was primarily due to the impact of the COVID-19 outbreak and related anti-epidemic measures, which reduced customer visits to restaurants[128]. - The financial results indicate a significant decline in revenue and an increase in losses, highlighting challenges faced during the reporting period[27]. - The Group's financial position as of 30 June 2020 is presented in the unaudited condensed consolidated statement of financial position[34]. Losses and Financial Challenges - The Group's unaudited loss for the period was approximately HK$14.0 million, an increase of approximately HK$4.1 million compared to a loss of HK$9.9 million for the corresponding period in 2019[25]. - Loss per share for the period was HK$1.64, compared to HK$1.15 for the same period in 2019, reflecting an increase of HK$0.49[24]. - The company reported a net loss of HK$14,111,000 for the six months ended June 30, 2020, compared to a loss of HK$9,924,000 for the same period in 2019[41]. - For the six months ended June 30, 2020, the loss attributable to owners was HK$14,111,000, compared to HK$9,924,000 for the same period in 2019, indicating a 42.2% increase in losses[86]. - The overall financial performance reflects the significant challenges posed by the ongoing pandemic, necessitating adaptive strategies for recovery[128]. Strategic Initiatives - New product launch is scheduled for Q3 2023, expected to contribute an additional $20 million in revenue[13]. - The company plans to expand into the Southeast Asian market, targeting a market size of $500 million[13]. - A strategic acquisition of a smaller tech firm was completed, valued at $30 million, aimed at enhancing product offerings[13]. - The Group is actively negotiating with landlords for rental concessions and suppliers for purchase discounts to mitigate financial impacts[128]. - The Group is developing and promoting its own home delivery service, "JIA Everywhere," to cater to customers preferring to dine at home during the pandemic[128]. - The Group's strategy includes exploring new restaurant concepts to adapt to changing market conditions[128]. Operational Performance - User base expanded to 2 million active users, representing a growth of 25% compared to the previous quarter[13]. - Operating margin improved to 20%, up from 15% in the previous quarter[13]. - Customer retention rate improved to 85%, reflecting enhanced user satisfaction[13]. - The Group's operations are solely based in Hong Kong, with no significant changes in accounting policies applied for the financial statements[59][62]. - The Group has implemented stringent cost control measures, including reducing operating hours and offering no-pay leave to employees[128]. Corporate Governance and Compliance - The Company has established an audit committee to review financial reports and internal control procedures, ensuring compliance with GEM Listing Rules[30]. - The Company has adopted a code of conduct regarding directors' securities transactions in compliance with GEM Listing Rules[150]. - The company emphasizes transparency and maintains open communication with shareholders through regular reports and updates on its corporate website[182]. - The company has complied with the GEM Listing Rules and the corporate governance code during the review period, except for the noted deviation[176]. Market Conditions and Impact of COVID-19 - The spread of COVID-19 since January 2020 added difficulties to the already weakened Hong Kong consumption market, leading to regulatory restrictions on restaurant operations[115]. - Customer visits to the Group's restaurants decreased during the reporting period due to cautious public responses to the pandemic[113]. - The Group will continue to monitor COVID-19 developments and assess its impacts on restaurant operations and financial position[111]. - Four restaurants were suspended in March and April 2020 due to COVID-19, with operations expected to be impacted in the third quarter of 2020[110]. Future Outlook - The Group will make steady progress in accordance with its business plans and actual operational conditions to facilitate effective implementation of business objectives[184]. - The Board will proactively seek potential business opportunities to broaden the sources of income and enhance shareholder value[184]. - The company believes that maintaining high transparency is key to enhancing investor relations and is committed to timely disclosure of company information[185].

Financial Performance - The Group recorded an unaudited revenue of approximately HK$45.6 million for the three months ended 31 March 2020, representing a decrease of approximately 18.4% compared to HK$55.9 million for the same period in 2019[14]. - The Group's unaudited loss for the period was approximately HK$12.5 million, an increase of approximately HK$11.2 million or approximately 825.6% compared to a loss of approximately HK$1.3 million for the same period in 2019[15]. - The increase in loss was primarily due to a decrease in revenue caused by the COVID-19 outbreak and related anti-epidemic measures, which reduced customer visits to restaurants[15]. - Revenue for the three months ended March 31, 2020, was HK$45,515,000, a decrease from HK$55,629,000 in the same period of 2019, representing a decline of approximately 18.5%[37]. - The total comprehensive loss for the period ended March 31, 2020, was HK$75,811,000, compared to a loss of HK$63,352,000 for the same period in 2019, indicating an increase in loss of approximately 19.4%[26]. - The Group's revenue from catering services was HK$45,515,000 for the three months ended March 31, 2020, compared to HK$55,629,000 in the same period of 2019, reflecting a decrease of approximately 18.2%[38]. - For the three months ended March 31, 2020, the Group reported a loss attributable to owners of the Company of HK$12,459,000, compared to a loss of HK$1,346,000 for the same period in 2019[57]. - The basic loss per share for the three months ended March 31, 2020, was HK$1.45, compared to HK$0.16 for the same period in 2019[57]. Expenses and Costs - Property rental and related expenses increased to HK$7.3 million, up from HK$3.0 million in the same period last year[22]. - Raw materials and consumables used decreased to HK$11.4 million from HK$13.1 million in the previous year[22]. - Staff costs increased to HK$23.1 million compared to HK$22.0 million in the same period last year[22]. - Advertising and promotion expenses decreased to HK$1.5 million from HK$2.4 million in the previous year[22]. - Total staff costs for the three months ended March 31, 2020, amounted to HK$23,095,000, an increase from HK$21,996,000 in the same period of 2019[47]. Assets and Liabilities - The Group's total assets as of March 31, 2020, were HK$29,175,000, down from HK$73,601,000 as of January 1, 2020[26]. - The Group's total liabilities increased to HK$75,811,000 as of March 31, 2020, compared to HK$63,352,000 as of January 1, 2020, representing an increase of approximately 19.4%[26]. - As of March 31, 2020, the group had net current liabilities of approximately HK$39.3 million, slightly down from HK$39.7 million as of December 31, 2019[81]. - The current ratio of the group as of March 31, 2020, was 0.4, down from 0.5 as of December 31, 2019[81]. - The gearing ratio increased to 398.7% as of March 31, 2020, compared to 237.6% as of December 31, 2019, mainly due to an increase in bank borrowings of HK$10.0 million[81]. Business Operations and Strategy - The Group's principal activities include operating restaurants and providing membership services in Hong Kong[30]. - The Group has suspended operations of two restaurants in Wanchai and plans to explore new restaurant concepts during the suspension period[63]. - The Group is actively negotiating with landlords for rental concessions and suppliers for purchase discounts to mitigate financial impacts[66]. - The Group has implemented stringent cost control measures, including reducing operating hours and offering no-pay leave to employees[66]. - The Group plans to develop and promote its own home delivery service "JIA Everywhere" to cater to customers preferring to dine at home during the pandemic[66]. - The Group will continue to monitor the development of COVID-19 and assess its impact on the economy and business operations[66]. - The Group's restaurant operations have been significantly affected by government-imposed restrictions on customer numbers per table[70]. Corporate Governance and Shareholding - The Company confirmed that all Directors complied with the required standard of dealings regarding securities transactions during the review period[103]. - The Company has established an audit committee in compliance with GEM Listing Rules since January 23, 2018[102]. - The interests and short positions of Directors and the chief executive in the shares of the Company were disclosed as of March 31, 2020[104]. - The company is committed to maintaining high corporate governance standards and has complied with the CG Code during the review period, except for the deviation from code provision A.2.1[132]. - The Board will proactively seek potential business opportunities to broaden the Group's income sources and enhance shareholder value[138].

Financial Performance - The company reported a consolidated profit of $X million for the fiscal year, representing a Y% increase compared to the previous year[4]. - The Group's total revenue for the year ended 31 December 2019 was approximately HK$219.1 million, a decrease of approximately HK$11.2 million or 4.9% from 2018[49]. - The loss attributable to owners of the Company for the year was HK$32.0 million, compared to a loss of HK$15.4 million in 2018[14]. - Loss before taxation for the year was HK$31,697,000, compared to a loss of HK$15,673,000 in the previous year, indicating a significant increase in losses[35]. - The total comprehensive expense for the year attributable to owners of the Company was HK$31,957,000, up from HK$15,435,000 in 2018[35]. - The effective income tax rate of the Group was approximately 0.82% for the year ended 31 December 2019, compared to 7.1% for the year ended 31 December 2018[49]. - The Group's loss for the year ended December 31, 2019, was approximately HK$32.0 million, representing an increase of approximately HK$15.6 million compared to a loss of approximately HK$16.4 million for the year ended 31 December 2018[49]. User Growth and Market Expansion - User data showed an increase in active users to Z million, reflecting a growth rate of A% year-over-year[4]. - The company reported a significant increase in revenue, achieving a total of $500 million, representing a 25% year-over-year growth[72]. - Market expansion efforts include entering G new regions, which are expected to drive an increase in market share by H%[4]. - Market expansion plans include entering three new countries, which are projected to increase market share by 15%[72]. Strategic Initiatives - The company provided guidance for the next fiscal year, projecting revenue growth of B% and an expected profit margin of C%[4]. - New product launches are anticipated to contribute an additional $D million in revenue, with a focus on expanding into E markets[4]. - New product launches are expected to contribute an additional $50 million in revenue over the next fiscal year[72]. - The company is considering strategic acquisitions to bolster its competitive position, with potential targets identified in the I sector[4]. - The company is considering strategic acquisitions to bolster its market position, with a budget of $30 million allocated for potential deals[72]. Operational Efficiency and Investments - The company is investing $F million in R&D for new technologies aimed at enhancing product offerings and improving operational efficiency[4]. - The management team emphasized the importance of improving operational efficiency, targeting a 10% reduction in costs over the next year[72]. - The Group has implemented cost control measures, including reducing operating hours and offering no-pay leave to employees[16]. Corporate Governance - The Board is committed to high standards of corporate governance, believing it is essential for the Group's growth and safeguarding shareholders' interests[85]. - The company has complied with all applicable code provisions of the Corporate Governance Code, except for a deviation regarding the roles of chairperson and chief executive officer[85]. - The Board comprises five Directors, including two executive Directors and three independent non-executive Directors, ensuring a balance of skills and experience[91]. - The Group's policies and practices on corporate governance are regularly reviewed and recommendations are made[91]. - The Company plans to reappoint BDO Limited as the auditor for the year ending December 31, 2020, subject to shareholder approval at the upcoming AGM[125]. Risk Management and Compliance - The Board is responsible for establishing and maintaining effective risk management and internal control systems, which include a defined management structure with limits of authority[169]. - The Group has identified principal risks classified into strategic, operational, financial, and compliance risks as of December 31, 2019[171]. - The Group has outsourced its internal audit function to an independent firm, with the Internal Auditor reporting directly to the Audit Committee[175]. - The Group will continue to review its corporate governance standards to ensure compliance with required practices[176]. Environmental and Social Responsibility - The Group is committed to reducing air emissions from its kitchens through efficient filtering equipment and regular maintenance[182]. - The major type of waste generated is food waste from diners, with guidelines established to reduce wastage[182]. - The Group has implemented measures to control paper waste in administrative activities, including double-sided printing and recycling[182]. - The Group strictly complies with the Employment Ordinance, prohibiting child and forced labor in all its operations[200].

● ● ● ● ● . ● . . . . . . . . ● . ● . . . . . ● . . . ● ● . . . . (incorporated in the Cayman Islands with limited liability) THIRD QUARTERLY REPORT 2019 第三季度業績報告 ● . ● ● ● . . ● e ● ● ● . . ● . ● . ● . . ● ● . . . . ● . ● CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") omission of which would make any statement herein or this report misleading. GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk ...

● ● ● ● ● ● ● ● ● ● . ● ● . . ● ● . ● ● ● ● ● ● ● ● ● ● . ● ● ● . ● ● ● ● ● ● ● ● ● ● ● . . (incorporated in the Cayman Islands with limited liability) INTERIM REPORT 2019 中期報告 . ● ● ● ● ● ● . . ● ● ● . ● ● ● ● ● ● . ● . ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● . ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● . | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ...

Financial Performance - The Group recorded an unaudited revenue of approximately HK$55.9 million for the three months ended 31 March 2019, representing a decrease of approximately 4.7% compared to HK$58.7 million for the same period in 2018[12]. - The Group's unaudited loss for the period was approximately HK$1.3 million, a decrease of approximately HK$3.8 million from a loss of approximately HK$5.2 million in the corresponding period of 2018[13]. - Loss per share for the period was HK$0.16, compared to HK$0.65 for the same period in 2018, indicating an improvement of approximately 75.4%[12]. - The total comprehensive expense for the period attributable to owners of the Company was HK$1.346 million, compared to HK$5.110 million in the previous year[18]. - For the three months ended March 31, 2019, the Group reported a loss of HK$1,346,000[22]. - The Group reported a loss attributable to owners of HK$1,346,000 for the period, an improvement from a loss of HK$5,110,000 in the prior year[77]. Revenue Breakdown - Revenue from catering services decreased to HK$55,629,000 compared to HK$58,408,000 in the same period last year, representing a decline of approximately 4.8%[45]. - Membership fee income increased to HK$119,000 from HK$94,000, showing a growth of approximately 26.6%[45]. - Total revenue recognized over the period was HK$55,948,000, down from HK$58,702,000, indicating a decrease of about 4.8%[45]. - Revenue from Asian restaurants was HK$34,885, accounting for 62.4% of total revenue, while European restaurants generated HK$21,063, making up 37.6%[87]. Cost Management - The decrease in loss was primarily due to reductions in staff costs, advertising and promotion expenses, and the absence of one-off listing expenses recognized in the previous year[13]. - Staff costs decreased to HK$21.996 million from HK$22.647 million, reflecting a reduction of approximately 2.9%[18]. - Property rentals and related expenses decreased significantly to HK$3.016 million from HK$8.839 million, a reduction of approximately 65.9%[18]. - The Group incurred no listing expenses for the three months ended 31 March 2019, compared to HK$4.0 million in the same period of 2018[18]. - Total staff costs for the three months ended March 31, 2019, were approximately HK$22.0 million, compared to HK$22.6 million for the same period in 2018[119]. Dividends and Shareholder Returns - The Board does not recommend the payment of any dividend for the three months ended 31 March 2019[14]. - No dividends were paid for the three months ended March 31, 2019, consistent with the previous year[69]. Corporate Structure and Governance - The Group's immediate and ultimate holding company is Giant Mind International Limited, incorporated in the British Virgin Islands[29]. - The Group's principal activities include operating restaurants and providing membership services in Hong Kong[30]. - The Group's financial statements are prepared in accordance with Hong Kong Financial Reporting Standards (HKFRSs) applicable to interim periods[31]. - The company has established an Audit Committee to oversee financial reporting and internal control processes since January 23, 2018[127]. - The Audit Committee reviewed the unaudited condensed consolidated results for the three months ended March 31, 2019, ensuring the effectiveness of internal controls[127]. - The company is committed to high corporate governance standards and has complied with the CG Code, except for the deviation regarding the roles of chairman and chief executive officer[157]. Assets and Liabilities - As of 31 March 2019, the Group's net current assets were approximately HK$32.2 million, an increase from approximately HK$30.2 million as of 31 December 2018[95]. - The Group's current ratio improved to 2.5 as of 31 March 2019, compared to 2.2 as of 31 December 2018[95]. - The gearing ratio decreased to 25.4% as of 31 March 2019, down from 26.9% as of 31 December 2018, primarily due to a reduction in bank borrowings of HK$1.1 million[95]. - The maximum limit of banking facilities available to the Group amounted to HK$23.0 million, with unutilised banking facilities of HK$5.0 million as of 31 March 2019[95]. - The Group had contracted but not provided for capital commitments of HK$4.4 million for the renovation of a new French restaurant[100]. Employee Information - The Group engaged a total of 273 employees as of March 31, 2019, down from 290 employees at the end of December 2018[119]. Future Plans and Opportunities - The company plans to make steady progress in accordance with its business plans and operational conditions to achieve its business objectives[162]. - The Board will actively seek potential business opportunities to broaden the Group's income sources and enhance shareholder value[162].