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） 截至二零二三年三月三十一日止三個月 之第一季度業績公告 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 其附屬公司截至二零二三年三月三十一日止三個月之未經審核業績（「第一季度 業績」）。本公告載有本公司二零二三年第一季度業績全文，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」）有關隨附第一季 度業績初步公告的資料的相關規定。本公司二零二三年第一季度報告印刷本將 根據GEM上市規則規定的方式於適當時候寄發予本公司股東，並於聯交所網站 https://www.hkex.com.hk 及本公司網站www.jiagroup.co 閱覽。 承董事會命 佳民集團有限公司 主席兼執行董事 黃佩茵 ...

Financial Performance - Jia Group Holdings Limited reported its annual results for the year ended December 31, 2022[28]. - The Group's revenue for the year ended December 31, 2022, was approximately HK$217.0 million, a decrease of approximately 2.0% compared to HK$221.3 million in 2021[35]. - The Group recorded a loss attributable to owners of the Company of approximately HK$19.7 million for the year, compared to a loss of HK$19.5 million in 2021[35]. - Revenue from mid-market dining, specialty coffee, and casual dining decreased by approximately 24.7%, 52.0%, and 9.1% respectively, primarily due to the closure of "Bibi & Baba" and the disposal of shares in Between HK[48]. - For the year ended December 31, 2022, the Group recorded a revenue of approximately HK$217.0 million, a decrease of approximately HK$4.3 million or 2.0% compared to HK$221.3 million in 2021[56]. - Revenue from specialty coffee and casual dining catering services decreased by approximately HK$8.1 million and HK$3.6 million, respectively, due to the closure of the restaurant "Bibi & Baba" in September 2022 and the disposal of shares in Between HK in August 2022[56]. - Revenue from fine dining catering services increased by approximately HK$14.3 million or 10.4%, primarily due to the opening of "Agora" in April 2022 and the re-opening of "Duddell's Hong Kong Airport" in November 2022[56]. Assets and Liabilities - The Group's total assets decreased from approximately HK$136.0 million in 2021 to approximately HK$98.6 million in 2022[44]. - Non-current liabilities decreased from approximately HK$39.0 million in 2021 to approximately HK$22.1 million in 2022, improving the Group's asset-liability structure[44]. - The Group's current liabilities increased from approximately HK$77.3 million in 2021 to approximately HK$79.4 million in 2022[44]. - The Group's net current liabilities increased from approximately HK$38.4 million in 2021 to approximately HK$50.7 million in 2022[44]. - The current ratio was approximately 0.4 as of December 31, 2022, down from 0.5 in 2021[71]. - Total equity attributable to owners of the Company amounted to approximately HK$2.7 million as of December 31, 2022, a decrease from HK$22.0 million in 2021[73]. - The Group reported net current liabilities of HK$50.7 million for the year ended December 31, 2022, indicating material uncertainty regarding its ability to continue as a going concern[163]. Operational Changes - The Group closed the restaurant "Bibi & Baba" in September 2022 due to poor performance, which is expected to improve overall cash flow and liquidity[36]. - The management is optimistic about the recovery of Hong Kong's food and beverage industry in the short term following the relaxation of COVID-19 restrictions[37]. - Staff costs increased by approximately HK$4.8 million from approximately HK$87.1 million in 2021 to approximately HK$91.9 million in 2022, mainly due to the opening of new restaurants[62]. - Property rentals and related expenses rose by approximately HK$1.7 million from approximately HK$8.8 million in 2021 to approximately HK$10.5 million in 2022, attributed to new restaurant openings[63]. Corporate Governance - The Company has complied with the Corporate Governance Code, except for the separation of the roles of chairperson and chief executive officer[155]. - The Board is responsible for formulating the Group's overall strategies and supervising management performance[165]. - The management team is tasked with daily operations and must report significant matters to the Board for prior approval[168]. - The Board consists of five Directors, including two executive Directors and three independent non-executive Directors, ensuring a balance of skills and experience[170]. - The independent non-executive Directors actively participate in various committees, including the Audit Committee and Remuneration Committee, contributing to the company's governance[182]. - The Nomination Committee concluded that the existing Board is satisfactory and effective in terms of size, structure, composition, commitment, independence, and diversity[200]. Strategic Initiatives - The company aims to enhance spaces for people to connect, focusing on storytelling and authentic food experiences[29]. - The Group has established a creative and freedom-based working environment to foster meaningful brand development[160]. - The Company aims to expand its market presence and enhance its product offerings through strategic initiatives and potential acquisitions[121]. - The management team is committed to continuous improvement in business operations and exploring new market opportunities[130]. - The Group emphasizes ongoing market research for innovative ideas to enhance its offerings[162]. Leadership and Experience - Ms. Wong, the CEO and founder, has over 22 years of experience in the industry and has received multiple awards for her contributions, including "Asia's Best Young Entrepreneurs" in 2008[124]. - Ms. Wan, the senior operations director, has approximately 20 years of experience in the food and beverage industry, previously managing operations for multiple restaurants[131]. - The company has a strong board of directors with members holding significant experience in finance and operations, including Mr. Chanmugam and Mr. Leung, who have extensive backgrounds in investment banking and financial management[135][139]. - The Board's diverse expertise positions the company well for navigating market challenges and capitalizing on growth opportunities[139]. Financial Strategies - The proceeds from the Placing I completed on September 24, 2020, amounted to approximately HK$13.8 million, with net proceeds of HK$13.2 million intended for various business developments[106]. - The actual use of proceeds from Placing I included HK$1.9 million for cloud kitchen development and HK$5.0 million for loan repayment, totaling HK$10.6 million utilized by December 31, 2022[112]. - The Placing II completed on June 18, 2021, generated gross proceeds of approximately HK$18.1 million and net proceeds of HK$17.5 million for expanding the specialty coffee business and casual dining[116]. - By December 31, 2022, HK$15.0 million of the net proceeds from Placing II had been utilized, with HK$2.5 million remaining[120]. - The company plans to fully utilize the proceeds from Placing I and Placing II by December 31, 2023[120].

Financial Performance - The Group recorded an unaudited revenue of approximately HK$154.4 million for the nine months ended 30 September 2022, representing an increase of approximately 1.0% compared to the corresponding period in 2021[16]. - The unaudited loss attributable to owners of the Company was approximately HK$8.1 million for the nine months ended 30 September 2022, a decrease in loss of approximately HK$1.5 million compared to a loss of approximately HK$9.6 million for the same period in 2021[17]. - Loss per share for the period was HK$0.70, an improvement from HK$0.88 in the previous year[16]. - The total comprehensive expense for the nine months ended September 30, 2022, was HK$9,377,000, improving from a total comprehensive expense of HK$11,262,000 in the same period of 2021[21]. - The total revenue for the nine months ended September 30, 2022, was HK$154,361,000, compared to HK$152,796,000 in the same period of 2021, indicating a slight increase of 1.0%[21]. - The company reported a loss attributable to owners of the company of HK$8,065,000 for the nine months ended September 30, 2022, compared to a loss of HK$9,579,000 in the same period of 2021[21]. - The profit before taxation for the three months ended September 30, 2022, was HK$3,574,000, compared to a loss of HK$4,728,000 in the same period of 2021[21]. - For the three months ended September 30, 2022, the profit attributable to owners of the Company was HK$3,644,000, compared to a loss of HK$3,008,000 in the same period of 2021[78]. Revenue Breakdown - For the three months ended September 30, 2022, the Group's revenue from fine dining was HK$41,502,000, representing an increase of 28% compared to HK$32,470,000 in the same period of 2021[50][42]. - The Group's revenue from mid-market dining decreased by 30% to HK$14,869,000 for the nine months ended September 30, 2022, down from HK$20,857,000 in the previous year[51][42]. - Casual dining revenue also saw a decline, dropping to HK$24,102,000 for the nine months ended September 30, 2022, compared to HK$29,446,000 in 2021, a decrease of 18%[53][42]. - Revenue from fine dining increased by approximately HK$17.5 million due to the openings of "Estro" and "Agora" in September 2021 and April 2022, respectively[92]. - Revenue from mid-market dining, specialty coffee, and casual dining decreased by HK$6.0 million, HK$4.6 million, and HK$5.3 million, respectively, due to the fifth wave of the COVID-19 pandemic in Hong Kong[92]. Expenses and Costs - The total operating expenses for the three months ended September 30, 2022, were HK$56,000,000, compared to HK$52,000,000 in the same period of 2021, reflecting an increase of 7.7%[21]. - Total staff costs, including directors' remuneration, increased to HK$24,368,000 for the three months ended September 30, 2022, up from HK$22,109,000 in 2021, representing an increase of approximately 10.2%[68]. - Property rentals and related expenses increased approximately HK$1.3 million from approximately HK$5.8 million for the nine months ended 30 September 2021 to approximately HK$7.2 million for the nine months ended 30 September 2022[103]. - Raw materials and consumables used amounted to approximately HK$43.8 million for the nine months ended September 30, 2022, representing approximately 28.4% of the Group's total revenue[98]. Dividends and Shareholder Returns - The Board does not recommend the payment of dividends for the nine months ended 30 September 2022, consistent with the previous year[17]. - The Company did not recommend the payment of any dividend for the nine months ended September 30, 2022, consistent with the same period in 2021[75]. Strategic Initiatives - The company plans to continue expanding its market presence and is focused on new product development to drive future growth[21]. - The company is exploring potential mergers and acquisitions to enhance its operational capabilities and market reach[21]. - The management will continuously explore and maintain the brand value and market position of the Group in the new market environment[87]. - The Group aims to design and offer a wider variety of cuisines to enhance customer satisfaction and provide a high-quality dining experience[87]. - The Board will proactively seek potential business opportunities to broaden the sources of income and enhance shareholder value[91]. - The Group anticipates further recovery in the food and beverage industry in Hong Kong in the short term due to potential quarantine-free travel arrangements[86]. Share Capital and Ownership - As of September 30, 2022, the issued share capital of the company is 1,159,780,000 shares[126]. - Ms. Wong Pui Yain holds a total interest of 520,416,000 shares, which includes 409,670,000 shares through her controlling corporation, representing approximately 35.32% of the company's issued share capital[130]. - The company’s shareholding structure indicates significant ownership concentration with Ms. Wong Pui Yain as a major shareholder[130]. - Mr. Lo Yeung Kit, Alan has a total interest in 522,346,000 shares, which includes 30,510,000 shares as a beneficial owner and 491,286,000 shares held by his spouse[139]. - Mr. Ko Kin Hang owns 64,990,000 shares, accounting for 5.60% of the total shareholding[135]. Share Option Scheme - The Share Option Scheme was conditionally adopted on January 23, 2018, to attract and retain top personnel[142]. - The purpose of the Share Option Scheme is to provide additional incentives to employees and promote the success of the business[171]. - The company aims to improve organizational efficacy and performance through the grant of share options[190]. - The company granted a total of 7,600,000 share options to certain directors, employees, and consultants under the Share Option Scheme, with an exercise price of HK$0.10 per share[198]. - The exercise period for the granted share options is from January 19, 2022, to January 18, 2032[198]. Compliance and Governance - The Audit Committee has reviewed the unaudited condensed consolidated results of the Group for the nine months ended September 30, 2022[106]. - Directors are not aware of any competing business interests during the nine months ended September 30, 2022[109]. - All Directors complied with the required standard of dealings regarding securities transactions during the period under review[110].

Financial Performance - The company reported a revenue increase of 15% year-over-year, reaching $150 million for the quarter[10]. - The Group recorded an unaudited revenue of approximately HK$95.0 million for the six months ended June 30, 2022, representing a decrease of approximately 3.9% compared to HK$98.9 million for the same period in 2021[52][56]. - Revenue for the three months ended June 30, 2022, was HK$57.2 million, compared to HK$55.3 million for the same period in 2021[59]. - Total revenue for the six months ended June 30, 2022, was HK$95,033,000, a decrease of 3.8% from HK$98,873,000 in the same period of 2021[93]. - Catering services revenue for the six months ended June 30, 2022, was HK$66,631,000, compared to HK$58,179,000 in the same period of 2021, reflecting a growth of 14.3%[93]. - The Group reported a profit before taxation of HK$4,501,000 for the three months ended June 30, 2022, compared to a loss of HK$1,901,000 in the same period of 2021[108]. - Loss attributable to owners of the Company was approximately HK$11.7 million for the six months ended 30 June 2022, representing an increase of approximately HK$5.1 million compared to a loss of approximately HK$6.6 million for the same period in 2021[179]. User and Market Expansion - User base expanded by 20%, with total active users now at 2 million[10]. - Market expansion efforts include entering two new countries, expected to generate $10 million in additional revenue[10]. - The company is exploring potential acquisitions to enhance market share, with a budget of $30 million allocated for this purpose[10]. - The Company is focusing on market expansion and new product development as part of its strategic initiatives moving forward[80]. Future Outlook - The company expects a revenue growth of 10-12% for the next quarter, projecting $165 million to $168 million[10]. - Future outlook remains cautious due to market volatility and economic uncertainties impacting overall performance[80]. Research and Development - Investment in R&D increased by 25%, totaling $5 million, focusing on innovative technologies[10]. Customer Metrics - Customer retention rate improved to 85%, up from 80% in the previous quarter[10]. - The company plans to enhance its digital marketing strategy, aiming for a 30% increase in online sales[10]. Financial Health and Liabilities - The Group recorded net current liabilities of approximately HK$53.5 million as at 30 June 2022, compared to HK$38.4 million as at 31 December 2021[182]. - The current ratio was approximately 0.3 as at 30 June 2022, down from 0.5 as at 31 December 2021[182]. - The gearing ratio was approximately 1,103.3% as at 30 June 2022, an increase from 403.9% as at 31 December 2021, mainly due to significant losses incurred during the period[182]. - The maximum limit of the banking facilities available to the Group amounted to HK$14.0 million and had been fully utilized as at 30 June 2022[182]. - The Group has technically breached certain bank loan covenants due to failure to meet specific financial criteria[198]. Operational Challenges - The recurring waves of the COVID-19 pandemic significantly impacted consumer sentiment, leading to challenges in the Group's operations during the first half of 2022[160]. - The Group's operating performance is affected by uncertainties related to the COVID-19 pandemic and social distancing measures in Hong Kong[161]. Shareholder Information - The Board does not recommend the payment of a dividend for the six months ended June 30, 2022, consistent with the previous year[198]. - The Company issued 134,280,000 new ordinary shares at a price of HK$ 0.135 per share on June 18, 2021, to strengthen its capital base[79].

Financial Performance - The Group recorded an unaudited revenue of approximately HK$37.8 million for the three months ended 31 March 2022, representing a decrease of approximately 13.2% compared to HK$43.6 million for the same period in 2021[31]. - The Group's unaudited loss was approximately HK$11.8 million for the three months ended 31 March 2022, an increase of approximately 62.7% compared to a loss of approximately HK$7.2 million for the same period in 2021[32]. - Loss per share for the period was HK$0.87, compared to HK$0.67 for the same period in 2021, reflecting a deterioration in financial performance[31]. - Total comprehensive expense for the period attributable to owners of the Company was HK$10.1 million, compared to HK$6.9 million for the same period in 2021[36]. - The Group's loss before taxation was HK$11.8 million, compared to HK$7.2 million for the same period in 2021[36]. - The loss for the period was HK$1,865,000, compared to a loss of HK$2,200,000 in the previous year, indicating an improvement of about 15.2%[42]. - The company's total comprehensive expense for the period was HK$10,091,000, a decrease from HK$11,771,000 in the prior year, reflecting a reduction of approximately 14.3%[42]. - Loss attributable to owners of the Company was approximately HK$10.1 million for the three months ended 31 March 2022, representing an increase in loss of approximately HK$3.2 million compared to a loss of approximately HK$6.9 million for the three months ended 31 March 2021[109]. Revenue and Expenses - Other income for the three months ended 31 March 2022 was HK$1.9 million, compared to HK$1.7 million for the same period in 2021, indicating a slight increase[36]. - Staff costs for the period were HK$19.5 million, slightly decreased from HK$19.8 million in the previous year[36]. - The Group's total operating expenses increased, with significant costs in raw materials and consumables used amounting to HK$10.9 million[36]. - Raw materials and consumables used amounted to approximately HK$10.9 million for the period ended March 31, 2022, accounting for approximately 28.7% of total revenue, compared to HK$12.4 million and 28.4% in the previous year[104]. - Property rentals and related expenses increased by approximately HK$0.1 million from approximately HK$1.9 million for the three months ended 31 March 2021 to HK$2.0 million for the three months ended 31 March 2022[109]. Corporate Governance - The company is committed to maintaining high corporate governance standards and has complied with the CG Code during the review period, except for a deviation regarding the roles of chairman and CEO[172]. - Ms. Wong Pui Yain serves as both the chairperson and CEO, which the Board believes is in the best interest of effective management and business development[172]. - The new Corporate Governance Code effective from January 1, 2022, will apply to the company's corporate governance report for the financial year starting on that date[177]. Strategic Initiatives - The financial results indicate a challenging market environment, necessitating strategic adjustments moving forward[32]. - The company is currently exploring new strategies for market expansion and product development to enhance its competitive position[50]. - The Group continues to focus on enhancing food quality and service to build a stronger brand during challenging times[99]. - The Group is actively seeking new potential locations for business expansion and plans to update menus and launch new brands[99]. - Investment in food technology is a highlight, with the Group subscribing to convertible promissory notes from Kin Shun Information Technology Holdings Limited to enhance customer experience through smart logistics and SaaS solutions[95]. - The Group expects that the expansion of Zeek's business will create potential synergies and reasonable financial returns in the growing food and delivery logistics market[95]. - The Group's management believes that business will continue to recover as the pandemic is brought under control and customers return to dining out[99]. - The Board will proactively seek potential business opportunities to broaden income sources and enhance shareholder value[99]. - The Group aims to facilitate effective implementation of business objectives to generate profits[99]. Share Capital and Ownership - As of March 31, 2022, the company had total assets of HK$11,600,000 and total liabilities of HK$100,807,000, resulting in a negative equity position[42]. - The total of 1,210,000 shares repurchased in November and December 2021 were cancelled on 10 January 2021, resulting in an issued share capital of 1,159,980,000 shares[117]. - As of March 31, 2022, the issued share capital of the company is 1,159,980,000 shares[131]. - Wong Pui Yain holds 409,670,000 shares, representing approximately 44.86% of the issued share capital[129]. - The company has granted share options to directors and associates under the share option scheme adopted on January 23, 2018[134]. - The total interests of Wong Pui Yain include 79,766,000 shares and 1,850,000 equity derivatives[129]. - The company has 11,350,000 options outstanding under the share option scheme, representing approximately 0.98% of the company's issued shares[146]. - Giant Mind holds 409,670,000 shares, representing approximately 35.32% of the issued share capital of the company[153]. - The spouse of a director has an interest of 29,130,000 shares[155]. Operational Challenges - The company has faced significant operational challenges due to COVID-19 restrictions, which have adversely affected its business operations[50]. - The Group has technically breached the loan covenant due to failure to fulfill certain financial criteria, but lenders have not demanded immediate loan repayment as of the approval date of the financial statements[112]. - The Group has sufficient working capital from existing bank balances, internally generated funds, and available banking facilities as of the report date[113]. - There has been no change in the capital structure of the Group during the three months ended 31 March 2022[113]. - The company operates solely in Hong Kong, with no geographical expansion reported during the period[64]. - The group has only one operating segment, which is the management of restaurants in Hong Kong, with no further segment analysis provided[63]. Miscellaneous - The unaudited financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards (HKFRS) and have not been audited by the independent auditor[45]. - The financial information is presented in Hong Kong Dollars (HK$), which is the functional currency of the company[50]. - The company has consistently adopted HKFRS effective for its financial year beginning January 1, 2022[50]. - There have been no significant events requiring disclosure from March 31, 2022, to the date of this report[182]. - Ms. Wan Suet Yee Cherry's remuneration has been changed to HK$864,000 per annum effective from March 1, 2022[179].

Financial Performance - The Group recorded an unaudited revenue of approximately HK$152.8 million for the nine months ended 30 September 2021, representing an increase of approximately 24.4% compared to the corresponding period in 2020[14]. - The unaudited loss attributable to owners of the Company was approximately HK$9.6 million for the nine months ended 30 September 2021, a decrease in loss of approximately HK$5.5 million compared to a loss of approximately HK$15.1 million for the same period in 2020[15]. - Loss per share for the nine months ended 30 September 2021 was HK$0.88, compared to HK$1.74 for the same period in 2020, indicating an improvement[14]. - Revenue for the third quarter ended 30 September 2021 was HK$53.9 million, compared to HK$39.1 million for the same quarter in 2020, reflecting a significant increase[20]. - The Group's total comprehensive loss for the period was HK$11.3 million for the nine months ended 30 September 2021, compared to HK$14.7 million for the same period in 2020[20]. - The Group's loss before taxation for the nine months ended 30 September 2021 was approximately HK$11.1 million, compared to a loss of HK$14.5 million for the same period in 2020[20]. - For the nine months ended September 30, 2021, the Group recorded revenue of approximately HK$152.8 million, an increase of approximately HK$30.0 million or 24.4% compared to HK$122.8 million for the same period in 2020[71]. - The Group's loss for the nine months ended September 30, 2021, was HK$9,579,000, compared to a loss of HK$15,071,000 for the same period in 2020[57]. Revenue Breakdown - Fine dining revenue for the nine months ended September 30, 2021, reached HK$90,649,000, up from HK$64,397,000 in the previous year, reflecting an increase of 40.9%[37]. - Mid-market dining revenue for the three months ended September 30, 2021, was HK$7,143,000, compared to HK$4,958,000 in the same period of 2020, marking a growth of 43.9%[37]. - Specialty coffee revenue for the nine months ended September 30, 2021, was HK$11,844,000, with no revenue reported in the same period of 2020[37]. - Casual dining revenue for the nine months ended September 30, 2021, was HK$29,446,000, down from HK$40,804,000 in the previous year, indicating a decline of 28.0%[37]. Expenses and Costs - Staff costs for the nine months ended September 30, 2021, were approximately HK$62.9 million, an increase from HK$59.5 million in the previous year[20]. - Other operating expenses for the nine months ended September 30, 2021 totaled approximately HK$21.4 million, compared to HK$16.1 million for the same period in 2020, indicating increased operational costs[20]. - Depreciation expenses for the nine months ended September 30, 2021 were approximately HK$23.0 million, slightly higher than HK$22.9 million for the same period in 2020[20]. - Raw materials and consumables used amounted to approximately HK$41.7 million for the nine months ended September 30, 2021, representing 27.3% of total revenue, compared to HK$32.2 million or 26.2% for the same period in 2020[72]. - Property rentals and related expenses decreased by approximately HK$2.8 million to approximately HK$5.8 million for the nine months ended September 30, 2021, mainly due to the closure of "Duddell's Airport"[76]. - Staff costs increased by approximately HK$3.5 million to approximately HK$63.0 million for the nine months ended September 30, 2021, primarily due to an increase in the number of staff following the relaxation of social distancing measures[76]. Corporate Governance and Compliance - The Company has established an Audit Committee to oversee financial reporting processes and internal control procedures[82]. - The Company confirms compliance with the required standards of dealings regarding directors' securities transactions during the review period[93]. - The Company is committed to high corporate governance standards, with a noted deviation from the CG Code regarding the roles of chairperson and CEO being held by the same individual[137]. - The company maintains high standards of corporate governance and has complied with the GEM Listing Rules during the review period[139]. - The company believes that maintaining high transparency is key to enhancing investor relations and regularly updates shareholders through quarterly, interim, and annual reports[140]. Share Repurchase and Ownership - The total consideration for the repurchase of 5,000,000 ordinary shares was HK$548,953, which included transaction costs[60]. - The Company repurchased a total of 4,460,000 shares at an aggregate consideration of HK$482,460 during the period ended 30 September 2021[86]. - 1,200,000 shares were subsequently cancelled to enhance the earnings per share for the benefit of the Company and its shareholders[86]. - Total shares held by Ms. Wong Pui Yain amount to 518,866,000, representing approximately 44.54% of the issued share capital[101]. - Mr. Lo Yeung Kit, Alan, has a beneficial ownership of 28,580,000 shares, which is 2.45% of the total[112]. - As of September 30, 2021, no directors or chief executives had any interests or short positions in the shares of the company or its associated corporations[109]. Strategic Initiatives - The Group plans to consolidate and expand its brand and sales network, launching additional "star brands" to enhance market penetration and maintain its leading position in the industry[70]. - The Group plans to further expand its online sales business and customer loyalty programs, enhancing the dining experience through improved technology systems[66]. - The Group's proactive brand management strategy has been key to its success, with a focus on high-quality brand development and customer engagement[66]. - The Group aims to balance cost control with food and service quality amidst high staff and food costs[70]. - The overall operating environment remains challenging due to reduced tourist numbers and government-imposed restrictions[69].

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].