Financial Performance - For the three months ended September 30, 2022, the company reported revenue of SGD 4,166,000, a significant increase from SGD 2,451,000 in the same period of 2021, representing a growth of 70%[12] - The gross profit for the three months ended September 30, 2022, was SGD 2,942,000, compared to SGD 1,714,000 in the same period of 2021, indicating a year-over-year increase of 71.5%[12] - For the nine months ended September 30, 2022, the total revenue was SGD 12,624,000, up from SGD 9,369,000 in the same period of 2021, marking a growth of 34.5%[12] - Revenue from the restaurant business for the nine months ended September 30, 2022, was SGD 9,606,000, an increase of 31% from SGD 7,345,000 in the same period of 2021[23] - The company generated total revenue of SGD 12,624,000 for the nine months ended September 30, 2022, compared to SGD 9,369,000 for the same period in 2021, reflecting a growth of 35%[23] - The company’s total comprehensive loss for the nine months ended September 30, 2022, was SGD 1,397,000, compared to a loss of SGD 2,068,000 for the same period in 2021[14] - The company recorded a loss before tax of SGD 812,000 for the three months ended September 30, 2022, compared to a loss of SGD 549,000 in the same period of 2021, reflecting a deterioration in performance[12] - The net loss attributable to equity holders for the three months ended September 30, 2022, was SGD 810,000, compared to a loss of SGD 555,000 in the same period of 2021[12] - For the nine months ended September 30, 2022, the company reported a total loss of SGD 1,502,000, compared to a loss of SGD 2,118,000 for the same period in 2021, representing a 29% improvement in losses year-over-year[14] Operational Highlights - The company is focused on expanding its market presence and developing new products and technologies to drive future growth[11] - The management remains optimistic about future performance despite the current losses, emphasizing strategic initiatives to enhance operational efficiency and market reach[11] - The company opened a new café in Vivocity in October 2022, which exceeded revenue expectations and positively contributed to overall earnings[35] - The company closed the Central Hong Kong Café at Resorts World Sentosa in August 2022 due to the owner's restructuring plans[35] - The company believes that the lifting of COVID-19 measures and the recovery of the tourism industry in Singapore will positively impact the restaurant sector[34] Income and Expenses - The company experienced a foreign exchange gain of SGD 122,000 for the three months ended September 30, 2022, compared to a gain of SGD 14,000 in the same period of 2021[12] - The company reported a foreign exchange gain of SGD 105,000 for the nine months ended September 30, 2022, compared to a gain of SGD 50,000 in the same period of 2021[14] - Cost of goods sold increased by approximately 1.02 million Singapore dollars or 40.8% to 3.53 million Singapore dollars for the nine months ended September 30, 2022, driven by overall food price inflation[38] - Other income decreased by approximately 1.80 million Singapore dollars or 85.5% to 0.31 million Singapore dollars for the nine months ended September 30, 2022, due to reduced government subsidies for the restaurant industry[39] - Other expenses increased by approximately 0.44 million Singapore dollars or 21.5% to 2.50 million Singapore dollars for the nine months ended September 30, 2022, mainly due to short-term lease renewals[43] Shareholder Information - As of September 30, 2022, major shareholders, excluding directors and executives, held a total of 90,500,000 shares, representing 18.1% of the company's equity[52] - The company did not recommend any interim dividend for the nine months ended September 30, 2022, consistent with the previous year[27] - The board did not recommend any interim dividend for the nine months ending September 30, 2022, consistent with the previous year[63] Governance and Compliance - The company is committed to high standards of corporate governance, although the roles of chairman and CEO are held by the same individual[59] - The company did not engage in any related party transactions during the nine months ending September 30, 2022[55] - No significant investments, acquisitions, or disposals were made by the group during the nine months ending September 30, 2022[64] - The company has no specific plans for significant investments or acquisitions of capital assets as of the report date[65] - The audit committee reviewed the group's unaudited interim results for the nine months ending September 30, 2022[62] - The company has adopted a share option scheme since April 4, 2018, but no options have been granted up to September 30, 2022[57] - The company has not established any arrangements for directors or executives to acquire securities since its listing date up to September 30, 2022[51] - The company has not purchased, sold, or redeemed any of its listed securities since its listing date up to September 30, 2022[56] Taxation - The company’s income tax expense for the nine months ended September 30, 2022, was SGD 8,000, compared to an expense of SGD 23,000 in the same period of 2021[25]

Financial Performance - For the six months ended June 30, 2022, total revenue was SGD 8,458,000, an increase of 22.3% compared to SGD 6,918,000 for the same period in 2021[12]. - The gross profit for the same period was SGD 6,152,000, up from SGD 5,148,000, reflecting a gross margin improvement[12]. - The net loss attributable to owners of the company for the six months was SGD 692,000, compared to a loss of SGD 1,563,000 in the previous year, indicating a reduction in losses[12]. - The basic and diluted loss per share for the six months was SGD 0.14, an improvement from SGD 0.31 in the same period last year[12]. - The group reported a loss before tax of SGD 682,000 for the six months ended June 30, 2022, compared to a loss of SGD 1,546,000 for the same period in 2021, indicating an improvement[36]. - The group recorded a loss of approximately SGD 0.69 million for the six months ended June 30, 2022, compared to a loss of SGD 1.56 million for the same period in 2021, mainly due to increased revenue from the lifting of COVID-19 measures[75]. Revenue Breakdown - Revenue for the restaurant business reached SGD 6,551,000 for the six months ended June 30, 2022, an increase of 19.2% compared to SGD 5,494,000 for the same period in 2021[28]. - The bakery segment generated revenue of SGD 1,900,000 for the six months ended June 30, 2022, up 33.9% from SGD 1,417,000 in the previous year[28]. - Total revenue for the group was SGD 8,458,000 for the six months ended June 30, 2022, compared to SGD 6,918,000 for the same period in 2021, reflecting a growth of 22.3%[33]. - The group’s total external customer revenue for the bakery segment was SGD 1,907,000 for the six months ended June 30, 2022, compared to SGD 1,423,000 in the previous year, marking a growth of 34.0%[33]. Expenses and Costs - Employee benefits expenses increased to SGD 3,152,000 for the six months, compared to SGD 2,964,000 in the previous year, reflecting increased staffing costs[12]. - The total cost of goods sold for the six months was SGD 2,306,000, compared to SGD 1,770,000 in the previous year, indicating higher sales volume[12]. - Cost of goods sold increased by approximately SGD 0.54 million or 30.3% from SGD 1.77 million to SGD 2.31 million, driven by overall food price inflation[68]. - Financing costs decreased by approximately SGD 0.04 million or 15.2% from SGD 0.26 million to SGD 0.22 million, attributed to the renewal of a lease as a short-term rental[74]. Assets and Liabilities - As of June 30, 2022, total non-current assets decreased to SGD 6,764,000 from SGD 8,455,000, representing a decline of approximately 20%[14]. - Current assets totaled SGD 4,631,000, down from SGD 6,098,000, indicating a decrease of about 24%[14]. - Total liabilities decreased to SGD 5,508,000 from SGD 7,118,000, reflecting a reduction of approximately 23%[14]. - The company's equity decreased to SGD 2,575,000 from SGD 3,284,000, a decline of about 21%[14]. - Total borrowings decreased from SGD 7,429,000 to SGD 5,625,000, a decrease of 24.2%[56]. Cash Flow - The net cash flow from operating activities for the six months ended June 30, 2022, was SGD 667,000, compared to a cash outflow of SGD 507,000 in the same period last year[18]. - Cash and cash equivalents at the end of the period were SGD 2,767,000, down from SGD 3,530,000, a decrease of approximately 22%[18]. - The net cash flow from investing activities for the same period was approximately SGD 1.17 million, primarily due to the release of pledged fixed deposits of SGD 1.19 million[78]. - The net cash flow used in financing activities was SGD 2.14 million, utilized for repaying bank loans and finance leases of SGD 0.23 million and lease liabilities of SGD 1.91 million[78]. Strategic Initiatives - The company aims to continue expanding its market presence and developing new products to drive future growth[11]. - The company continues to focus on its core businesses in Singapore's food and beverage sector and Malaysia's artisanal bakery chain[20]. - The company plans to continue adjusting its business strategy cautiously to minimize losses and improve performance amid ongoing economic instability[66]. - The company closed the unprofitable Masa Orchard Gateway store in June 2022 as part of its strategy to reduce losses[66]. Governance and Corporate Matters - The company is committed to high standards of corporate governance, although the roles of chairman and CEO are held by the same individual[100]. - The board believes that the current arrangement of roles does not impair the balance of power and authority[100]. - The audit committee reviewed the unaudited interim results for the six months ended June 30, 2022[104]. - The company expresses gratitude to shareholders, business partners, and customers for their continued support[108].

Financial Performance - For the first quarter ended March 31, 2022, the company reported revenue of SGD 3,926,000, a decrease from SGD 4,118,000 in the same period last year, representing a decline of approximately 4.66%[12] - The gross profit for the first quarter was SGD 2,859,000, compared to SGD 3,109,000 in the previous year, indicating a decrease of about 8.03%[12] - The company recorded a loss before tax of SGD 479,000, which is a slight increase from the loss of SGD 444,000 in the prior year, reflecting a deterioration of approximately 7.88%[12] - The net loss attributable to owners of the company for the quarter was SGD 484,000, compared to a loss of SGD 452,000 in the same quarter last year, marking an increase of about 7.09%[12] - The total comprehensive loss for the period was SGD 483,000, compared to a total comprehensive loss of SGD 416,000 in the previous year, representing an increase of approximately 16.06%[12] - The company's basic loss per share for the quarter was SGD 0.10, compared to SGD 0.09 in the same period last year, indicating a worsening of approximately 11.11%[12] - Revenue decreased by approximately SGD 0.19 million or 4.7% to SGD 3.93 million for the three months ended March 31, 2022, compared to SGD 4.12 million for the same period in 2021[37] - The group recorded a loss of approximately SGD 0.48 million for the three months ended March 31, 2022, compared to a loss of SGD 0.45 million for the same period in 2021, attributed to overall revenue decline[44] Equity and Shareholder Information - As of March 31, 2022, the total equity of the company was SGD 2,801,000, down from SGD 6,066,000 as of January 1, 2021, reflecting a decrease of approximately 53.82%[14] - As of March 31, 2022, major shareholders and other individuals (excluding directors and senior management) held a total of 90,500,000 shares, representing approximately 18.1% of the company's equity[51] - The company did not recommend any interim dividend for the three months ended March 31, 2022, consistent with the previous year[27] - The board of directors did not recommend any interim dividend for the three months ending March 31, 2022, consistent with the previous year[63] Revenue Sources and Expenses - Revenue from the food and beverage business was SGD 3,033,000, down from SGD 3,405,000 year-on-year[23] - The company's employee benefits expenses for the quarter were SGD 1,564,000, an increase from SGD 1,510,000 in the same period last year, representing a rise of approximately 3.59%[12] - Cost of goods sold increased by approximately SGD 0.06 million or 5.7% to SGD 1.07 million for the three months ended March 31, 2022, due to overall food price inflation[38] - Other income decreased by approximately SGD 0.33 million or 69.7% to SGD 0.14 million for the three months ended March 31, 2022, primarily due to reduced government and landlord subsidies[39] - Depreciation of right-of-use assets decreased by approximately SGD 0.31 million or 30.2% to SGD 0.70 million for the three months ended March 31, 2022, due to a reduction in operational stores[40] Strategic Initiatives and Market Conditions - The company continues to explore new strategies for market expansion and product development to improve financial performance in future quarters[11] - The company is closely monitoring inflationary pressures and tax policies in the US and Singapore, which may affect consumer behavior[33] - The overall business environment remains consistent with the previous year's report, with ongoing challenges related to labor shortages and rising wage levels in Singapore[33] - The newly opened café Q Classified in Yishun is performing well, while business prospects in China are currently on hold due to strict lockdown measures[34] - The company aims to minimize losses and improve performance through careful adjustments to its business strategies[36] Compliance and Governance - The financial statements are prepared in accordance with International Financial Reporting Standards and presented in Singapore dollars[17] - The group did not adopt any new or revised International Financial Reporting Standards that have been issued but are not yet effective[18] - The company is committed to high standards of corporate governance, although the roles of chairman and CEO are held by the same individual[59] - The company has not established any arrangements for directors or senior management to acquire any securities of the company or its affiliates since the listing date[50] Other Information - The company received a court order on March 28, 2022, confirming the withdrawal of a claim amounting to SGD 9,073,811 against it[29] - The group operates in Singapore's food and beverage sector and Malaysia's artisanal bakery chain[19] - The group incurred an income tax expense of SGD 5,000 for the three months ended March 31, 2022, consistent with the SGD 8,000 reported in the previous year[25] - The company did not engage in any related party transactions during the three months ending March 31, 2022[55] - No shares were purchased, sold, or redeemed by the company or its subsidiaries during the three months ending March 31, 2022[56] - The company did not grant any share options under the share option scheme from its adoption until March 31, 2022[57] - There were no significant investments, acquisitions, or disposals made by the group during the three months ending March 31, 2022[64] - The audit committee reviewed the unaudited first-quarter results for the three months ending March 31, 2022[62] - The company expressed gratitude to shareholders, business partners, and customers for their continued support during the reporting period[65]

Financial Performance - The group's revenue increased slightly from approximately SGD 13.15 million in the year ended December 31, 2020, to approximately SGD 13.23 million in the year ended December 31, 2021, representing a growth of 0.6%[12] - The group recorded a loss of approximately SGD 2.82 million for the year ended December 31, 2021, compared to a loss of SGD 2.00 million for the previous year, primarily due to the impact of COVID-19[12] - The company's revenue for the fiscal year ending December 31, 2021, was approximately SGD 13.23 million, reflecting a slight increase of SGD 0.08 million or 0.6% from SGD 13.15 million in the previous year[20] - The company recorded a loss of approximately SGD 2.82 million for the fiscal year ending December 31, 2021, compared to a loss of SGD 2.00 million in the previous year, mainly due to the impact of COVID-19[29] - As of December 31, 2021, the company's cash and bank balances were approximately SGD 3.07 million, down from SGD 4.65 million as of December 31, 2020[30] Operational Challenges - The group incurred an impairment loss of SGD 0.71 million related to the right-of-use assets and property, plant, and equipment of its two restaurants[12] - The group anticipates that the tourism and retail sectors in Singapore will continue to be impacted due to ongoing restrictions and the effects of the Russia-Ukraine war[11] - The group expects no further government subsidies for the current year, which will continue to affect the restaurant industry in Singapore[11] - The company maintained a cautious approach to operations and business development in response to the ongoing challenges posed by the COVID-19 pandemic[19] Business Development - The group opened a new Q Classified brand coffee shop in October 2021, located in a prime shopping center on Orchard Road, which performed well[14] - The company ceased operations of two underperforming "Central Hong Kong Café" outlets in Singapore during the fiscal year, while new brand "Café Q Classified" and a new bakery in Malaysia contributed positively to performance[20] - The company has fully utilized the net proceeds from the share placement as of December 31, 2021, with delays attributed to a slowdown in the Singapore restaurant market[49] - The renovation of the new restaurant "Café Q Classified" under the Black Society brand was completed and commenced operations on October 25, 2021[51] Financial Management - Cost of goods sold increased by approximately SGD 0.05 million or 1.3% to about SGD 3.51 million for the fiscal year ending December 31, 2021, from SGD 3.46 million in the previous year[22] - Employee benefits expenses rose by approximately SGD 0.20 million or 3.5% to about SGD 5.86 million for the fiscal year ending December 31, 2021, compared to SGD 5.66 million in the previous year[24] - Other expenses increased significantly by approximately SGD 1.00 million or 44.7% to about SGD 3.25 million for the fiscal year ending December 31, 2021, from SGD 2.25 million in the previous year, primarily due to impairment losses[26] - The company’s cash flow from operating activities was approximately SGD 2.02 million for the fiscal year ending December 31, 2021, but would be approximately SGD 0.52 million when excluding the impact of depreciation and rent concessions[30] - The net cash flow used in investing activities for the year ended December 31, 2021, was approximately SGD 0.42 million, primarily for renovations of new restaurants and two bakery retail stores[31] - The net cash flow used in financing activities for the year ended December 31, 2021, was approximately SGD 3.18 million, mainly for repaying bank loans and lease liabilities[31] - The capital debt ratio as of December 31, 2021, was 83%, a significant increase from 46% as of December 31, 2020[34] Corporate Governance - The board consists of seven members, including four executive directors and three independent non-executive directors, responsible for business and investment planning, annual budgeting, and profit distribution[58] - The company emphasizes high standards of corporate governance, with the current structure having the same person as both Chairperson and CEO, which the board believes ensures consistent internal leadership[76] - The company has adopted a code of conduct for directors' securities trading, aligning with GEM Listing Rules, and all directors have confirmed compliance since the listing date[77] - The board is responsible for overseeing the company's overall strategy, financial performance, and internal control systems[81] - The audit committee was established on April 4, 2018, and consists of three independent non-executive directors, with the main responsibility of reviewing the group's quarterly, interim, and annual performance[87] - The remuneration committee, also established on April 4, 2018, evaluates the performance of directors and senior management and determines their compensation[90] - The nomination committee, formed on April 4, 2018, is responsible for recommending suitable candidates for the board and senior management positions[91] - The company has implemented a board diversity policy to ensure a balance of professional knowledge, skills, and experience among board members[91] Shareholder Relations - The company emphasizes the importance of maintaining ongoing communication with shareholders through various channels, including announcements and reports as per GEM listing rules[124] - The company has adopted a shareholder communication policy to improve transparency and enhance investor confidence[124] - The board of directors recommended not to pay any dividends for the year ended December 31, 2021, maintaining a balance between sufficient capital for business development and rewarding shareholders[135] - The company encourages shareholders to participate in all general meetings to voice their opinions and suggestions[124] Risk Management - The company has implemented policies and procedures to identify, assess, and manage significant risks, with the board overseeing the effectiveness of the risk management and internal control systems[109] - The company has maintained compliance with relevant laws and regulations that significantly impact its business and operations[198] Employee and Supplier Relations - The company has established strong relationships with employees, customers, and suppliers, ensuring a healthy and safe work environment without any reported strikes or workplace accidents during the review year[183] - The five largest customers accounted for less than 30% of the total revenue for the year ended December 31, 2021[133] - The largest supplier and the top five suppliers accounted for approximately 11.0% and 39.0% of total purchases, respectively, for the year ended December 31, 2021[133]

Financial Performance - For the third quarter ended September 30, 2021, the company reported revenue of SGD 2,451,000, a decrease of 32% from SGD 3,619,000 in the same period last year[11]. - Gross profit for the third quarter was SGD 1,714,000, down 35% from SGD 2,658,000 year-on-year[11]. - The company incurred a loss before tax of SGD 549,000, compared to a loss of SGD 257,000 in the previous year[11]. - The net loss attributable to equity holders for the third quarter was SGD 555,000, compared to a loss of SGD 263,000 in the same quarter last year[11]. - Total comprehensive loss for the third quarter was SGD 541,000, compared to a loss of SGD 315,000 in the same period last year[11]. - Employee benefits expenses for the third quarter were SGD 1,339,000, slightly down from SGD 1,425,000 in the previous year[11]. - The company reported other income and gains of SGD 1,163,000, an increase from SGD 589,000 year-on-year[11]. - The company’s total revenue for the nine months ended September 30, 2021, was SGD 9,369,000, compared to SGD 8,570,000 in the previous year, reflecting a growth of 9.3%[11]. - For the nine months ended September 30, 2021, the company reported a total comprehensive loss of SGD 2,068,000, compared to a loss of SGD 2,429,000 for the same period in 2020[13]. - The company recorded government grants totaling SGD 9,369,000 for the nine months ended September 30, 2021, compared to SGD 8,570,000 in the same period of 2020, reflecting a year-on-year increase of 9.3%[22]. - The company’s total equity as of September 30, 2021, was SGD 3,998,000, a decrease from SGD 5,657,000 as of September 30, 2020[13]. - The company’s revenue from the bakery business for the nine months ended September 30, 2021, was SGD 2,015,000, a decrease of 8.8% from SGD 2,211,000 in the same period of 2020[22]. - The company reported a foreign exchange gain of SGD 50,000 for the nine months ended September 30, 2021, compared to a gain of SGD 61,000 in the same period of 2020[13]. - The company reported a basic loss per share of (0.42) Singapore cents for the nine months ended September 30, 2021, compared to (0.50) Singapore cents for the same period in 2020[27]. - Revenue increased by approximately 0.80 million Singapore dollars or 9.3% to 9.37 million Singapore dollars for the nine months ended September 30, 2021, from 8.57 million Singapore dollars for the same period in 2020[38]. - Cost of goods sold increased by approximately 0.14 million Singapore dollars or 6.0% to 2.51 million Singapore dollars for the nine months ended September 30, 2021, from 2.37 million Singapore dollars for the same period in 2020[39]. - Other income decreased by approximately 0.24 million Singapore dollars or 10.1% to 2.11 million Singapore dollars for the nine months ended September 30, 2021, from 2.34 million Singapore dollars for the same period in 2020[40]. - The group recorded losses of approximately SGD 2.12 million and SGD 2.49 million for the nine months ended September 30, 2021, and 2020, respectively, with the 2021 loss mainly attributed to the ongoing impact of COVID-19 on revenue[45]. Operational Strategies - The company plans to continue focusing on cost management and exploring new market opportunities to improve financial performance moving forward[10]. - The company is exploring business development opportunities in mainland China, particularly in the health and wellness market for the elderly[36]. - The company aims to improve its business performance by seeking collaboration opportunities in mainland China due to the strong economic recovery and consumer power compared to Singapore and Malaysia[35]. - The company will continue to adopt cost-saving measures to offset the impact of COVID-19 on its operations in Singapore and Malaysia[35]. - The company has identified several potential business opportunities and is conducting preliminary research on possible projects[36]. - The company acknowledges the ongoing challenges posed by COVID-19 and remains cautious in its operational and business development strategies[32]. Capital and Investments - The net proceeds from the share offering amounted to approximately HKD 23.7 million, with 76.4% allocated to continue expanding the restaurant business in Singapore[47]. - As of September 30, 2021, approximately HKD 1.9 million of the net proceeds remained unutilized, primarily due to the slowdown in expansion caused by the COVID-19 pandemic[54]. - A new café under the "Café Q" brand is set to open on Orchard Road on October 25, 2021, as part of the company's expansion strategy in Singapore[50]. - The company has fully utilized funds for establishing a new headquarters and increasing workforce in Singapore[51]. - Funds have been fully allocated to marketing activities to enhance brand visibility in Singapore and Malaysia[52]. - The company has fully utilized funds for upgrading IT systems in restaurants and retail outlets[53]. Corporate Governance - The company is committed to high standards of corporate governance, although the roles of Chairman and CEO are held by the same individual[70]. - The company expresses gratitude to shareholders, business partners, and customers for their continued support[76]. - The audit committee reviewed the group's unaudited interim results for the nine months ending September 30, 2021[73]. - The company did not recommend any interim dividend for the nine months ended September 30, 2021, consistent with the previous year[26]. - The company has not established any arrangements for directors or senior management to acquire securities of the company or its affiliates from the date of listing until September 30, 2021[61]. - The company has not granted any share options since the adoption of the share option scheme on April 4, 2018, until September 30, 2021[68]. - There were no significant investments, acquisitions, or disposals by the group for the nine months ending September 30, 2021[75]. - No related party transactions were conducted by the group for the nine months ending September 30, 2021[65]. - The company did not purchase, sell, or redeem any of its listed securities from the date of listing until September 30, 2021[66].

Financial Performance - The company reported unaudited consolidated financial results for the six months ended June 30, 2021, comparing with the same period in 2020[10]. - Revenue for the three months ended June 30, 2021, was SGD 2,800,000, a significant increase from SGD 965,000 in the same period of 2020, representing a growth of 190%[11]. - Gross profit for the six months ended June 30, 2021, was SGD 5,148,000, compared to SGD 3,546,000 in the same period of 2020, reflecting a year-on-year increase of 45%[11]. - The company reported a net loss attributable to owners of the company of SGD 1,111,000 for the three months ended June 30, 2021, compared to a loss of SGD 819,000 in the same period of 2020, indicating a 36% increase in losses[11]. - Total revenue for the group was SGD 6,918,000 for the six months ended June 30, 2021, compared to SGD 4,951,000 in 2020, marking a 39.5% increase[27]. - The group reported a pre-tax loss of SGD 1,546,000 for the six months ended June 30, 2021, compared to a loss of SGD 2,199,000 for the same period in 2020, indicating a 29.7% improvement[35]. - For the six months ended June 30, 2021, the company reported a net loss of SGD 1,563,000, compared to a net loss of SGD 2,227,000 for the same period in 2020, representing a 29.8% improvement[40]. - The basic loss per share for the six months ended June 30, 2021, was (0.31) Singapore cents, an improvement from (0.45) Singapore cents for the same period in 2020[40]. Assets and Liabilities - Total assets as of June 30, 2021, were SGD 16,380,000, down from SGD 19,188,000 as of December 31, 2020, showing a decrease of 14.6%[13]. - The company’s total equity decreased to SGD 4,539,000 as of June 30, 2021, from SGD 6,066,000 as of December 31, 2020, representing a decline of 25.2%[13]. - As of June 30, 2021, trade receivables net amount was SGD 20,000, down from SGD 85,000 as of December 31, 2020, indicating a 76.5% decrease[44]. - The company reported a net amount of refundable deposits of SGD 1,522,000 as of June 30, 2021, slightly up from SGD 1,518,000 as of December 31, 2020[48]. - As of June 30, 2021, the total liabilities amounted to SGD 8,329,000, a slight decrease from SGD 8,362,000 as of December 31, 2020[53]. Cash Flow - Cash and cash equivalents decreased to SGD 3,530,000 as of June 30, 2021, from SGD 4,649,000 at the beginning of the period, a decline of 24%[18]. - Operating cash flow for the six months ended June 30, 2021, was negative at SGD (507,000), compared to positive cash flow of SGD 559,000 in the same period of 2020[18]. - The company reported a net cash outflow from financing activities of SGD 2,206,000 for the six months ended June 30, 2021, compared to SGD 2,003,000 in the same period of 2020, reflecting an increase in cash outflow of 10.1%[18]. Corporate Governance - The board of directors confirmed that the financial information presented is accurate and complete, with no misleading or fraudulent elements[3]. - The board includes executive directors and independent non-executive directors, ensuring compliance with corporate governance standards[6]. - The company has established various committees, including an audit committee and a remuneration committee, to oversee its operations[7]. - The audit committee, consisting of independent non-executive directors, reviewed the unaudited interim results for the six months ending June 30, 2021[109]. - The company has maintained compliance with the corporate governance code, although the roles of Chairman and CEO are held by the same individual[106]. Market and Operational Context - The company acknowledges the potential market volatility and lower liquidity associated with trading on the GEM[2]. - The company aims to provide a transparent overview of its financial performance and business objectives[3]. - Singapore's vaccination rate has reached 70% of the population, and the country is gradually reopening, which is expected to improve revenue and cash flow[62]. - The company plans to continue cost-saving measures to offset the impact of pandemic-related restrictions on its operations in Singapore and Malaysia[63]. - The company will monitor changes in consumer behavior due to prolonged lockdowns and adjust its business strategies accordingly to minimize losses[63]. Shareholder Information - Liu Wan-Zhen holds a beneficial interest in 282 million shares, representing 56.4% of the company's shares as of June 30, 2021[94]. - The major shareholder, Jingxin Rehabilitation Hospital (International) Limited, holds 90.5 million shares, representing 18.1% of the company's shares[99]. - The company has issued 500,000,000 ordinary shares, with a par value of HKD 0.01 per share, and no new shares were issued during the reporting period[57]. - The company did not recommend any interim dividend for the six months ended June 30, 2021, consistent with the previous year[39]. Segment Performance - Revenue for the restaurant business reached SGD 5,494,000 for the six months ended June 30, 2021, compared to SGD 3,632,000 for the same period in 2020, representing a 51.4% increase[27]. - The bakery segment generated revenue of SGD 1,417,000 for the six months ended June 30, 2021, up from SGD 1,309,000 in the previous year, reflecting an 8.3% growth[27]. - The group operates two reportable segments: the restaurant business and the bakery segment, focusing on resource allocation and performance evaluation[31]. Future Outlook - The company anticipates reporting more information and updates in the next quarterly report to safeguard stakeholder interests[64]. - The company plans to use the unutilized net proceeds according to the announcement dated July 2, 2021, with the timeline dependent on future developments[90]. - The company will continue to review the separation of the roles of Chairman and CEO at an appropriate time[106].

Financial Performance - The company reported revenue of SGD 4,118,000 for the first quarter of 2021, an increase of 3.3% compared to SGD 3,986,000 in the same period of 2020[11]. - Gross profit for the first quarter was SGD 3,109,000, up from SGD 2,894,000 year-over-year, reflecting a gross margin improvement[11]. - The company incurred a loss before tax of SGD 444,000, significantly reduced from a loss of SGD 1,392,000 in the previous year[11]. - Total comprehensive loss attributable to owners of the company was SGD 416,000, compared to a loss of SGD 1,227,000 in the same quarter of 2020[11]. - Employee benefit expenses decreased to SGD 1,510,000 from SGD 1,717,000, indicating cost management efforts[11]. - Other income and gains increased to SGD 472,000 from SGD 99,000, contributing positively to the financial performance[11]. - The company reported a basic loss per share of SGD 0.09, an improvement from SGD 0.28 in the previous year[11]. - For the three months ended March 31, 2021, the company reported a loss of SGD 452,000 compared to a loss of SGD 1,408,000 for the same period in 2020, representing a 68% improvement in loss[22]. - Basic loss per share for the three months ended March 31, 2021, was SGD 0.09, an improvement from SGD 0.28 for the same period in 2020[27]. - The company’s total comprehensive loss for the three months ended March 31, 2021, was SGD 416,000, compared to a total comprehensive loss of SGD 1,227,000 in the same period of 2020[22]. - The company’s retained earnings as of March 31, 2021, were negative SGD 10,304,000, compared to negative SGD 9,257,000 as of March 31, 2020[22]. Revenue and Business Segments - Revenue from the restaurant business was SGD 3,405,000 for the three months ended March 31, 2021, an increase of 12.5% from SGD 3,025,000 in the same period of 2020[22]. - Total revenue, including bakery sales and franchise fees, reached SGD 4,118,000 for the three months ended March 31, 2021, compared to SGD 3,986,000 in the previous year, marking a 3.3% increase[22]. - Government grants received amounted to SGD 397,000 for the three months ended March 31, 2021, significantly up from SGD 65,000 in the same period of 2020[22]. Cost Management - Cost of goods sold decreased by approximately SGD 0.08 million or 7.6% to SGD 1.01 million for the three months ended March 31, 2021, from SGD 1.09 million for the same period in 2020[35]. - Employee benefits expenses decreased by approximately SGD 0.21 million or 12.1% to SGD 1.51 million for the three months ended March 31, 2021, from SGD 1.72 million for the same period in 2020[37]. - Financing costs decreased by approximately SGD 0.05 million or 30.1% to SGD 0.12 million for the three months ended March 31, 2021, from SGD 0.17 million for the same period in 2020[38]. Future Plans and Strategies - The company plans to continue focusing on market expansion and product development to drive future growth[10]. - The company anticipates that the establishment of travel bubbles will stimulate consumer spending and benefit the restaurant industry[32]. - The company plans to continue monitoring economic conditions and explore expansion opportunities during the downturn[32]. - The company plans to continue expanding its restaurant business in Singapore, with the opening of new restaurants postponed to the second half of 2021 due to the challenging business environment caused by COVID-19[43]. Corporate Governance and Compliance - The board confirmed that all information in the report is accurate and complete, with no misleading elements[3]. - The company is committed to maintaining compliance with corporate governance standards and enhancing shareholder value[3]. - The audit committee, consisting of independent non-executive directors, reviewed the unaudited first-quarter results for the three months ended March 31, 2021[69]. - The board believes that having the same person serve as both chairman and CEO ensures effective leadership and decision-making[65]. Shareholder Information - The company did not recommend any interim dividend for the three months ended March 31, 2021, consistent with the same period in 2020[26]. - As of March 31, 2021, Liu Wan-Zhen holds a beneficial interest in 282 million shares, representing 56.4% of the company's ordinary shares[52]. - The company has not engaged in any related party transactions during the three months ending March 31, 2021[60]. - There have been no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the same period[61]. - The company has not granted any share options since the adoption of its share option scheme on April 4, 2018, up to March 31, 2021[62]. Operational Updates - The company is actively hiring additional staff at its headquarters to improve administrative efficiency[45]. - Marketing activities and brand exposure initiatives have been funded to enhance brand awareness in Singapore and Malaysia, with ongoing collaboration with marketing consultants[46]. - The company has upgraded its information technology systems, including point-of-sale and CCTV systems in its restaurants and retail outlets[47]. - As of March 31, 2021, the company has utilized approximately HKD 18.6 million of the net proceeds, leaving HKD 5.1 million unutilized[41]. - As of March 31, 2021, the company has approximately HKD 5.1 million of unutilized net proceeds from its share offering, which is temporarily held in short-term deposits[48]. - The net proceeds from the share offering amounted to approximately HKD 23.7 million, with 76.4% allocated for expanding the restaurant business in Singapore[41]. - The board regularly evaluates the company's business objectives and may adjust plans based on market conditions to ensure business growth[48]. - There were no significant investments, acquisitions, or disposals made by the group for the three months ended March 31, 2021[71]. - The company is actively seeking suitable candidates to fill the vacancy of independent non-executive director following the resignation of Mr. Li on March 11, 2021[66].

Financial Performance - The company's revenue for the year ended December 31, 2020, decreased by approximately SGD 7.28 million or 35.6% to about SGD 13.15 million, down from approximately SGD 20.43 million for the year ended December 31, 2019[13]. - The company recorded a net loss of approximately SGD 2.00 million for the year ended December 31, 2020, primarily due to the impact of COVID-19 and related preventive measures[13]. - The adverse effects on the company's performance were partially offset by subsidies and rent concessions obtained from local government and landlords[13]. - The company experienced a significant decline in business activity during the circuit breaker period, which led to a near halt in consumer activity and retail operations[12]. - Following the easing of the circuit breaker measures on June 1, 2020, the company began to see a recovery in economic activity, although strict safety measures limited restaurant capacity and significantly reduced revenue[12]. - The company benefited from government support measures aimed at preventing layoffs, which included wage subsidies[12]. - The last two months of the fiscal year saw a surprising rebound in consumer spending, contributing to a gradual recovery in business conditions[12]. - The company's revenue decreased by approximately 7.28 million SGD or 35.6% to about 13.15 million SGD for the year ended December 31, 2020, compared to approximately 20.43 million SGD for the year ended December 31, 2019, primarily due to the impact of COVID-19[24]. - Cost of goods sold decreased by approximately 1.87 million SGD or 35.1% to about 3.46 million SGD for the year ended December 31, 2020, aligning with the revenue decline[25]. - Other income increased by approximately 2.64 million SGD or 880.0% to about 2.94 million SGD for the year ended December 31, 2020, mainly due to government subsidies related to COVID-19[26]. - Employee benefits expenses decreased by approximately 1.75 million SGD or 23.6% to about 5.66 million SGD for the year ended December 31, 2020, due to cost-saving measures[27]. - Depreciation of right-of-use assets increased by approximately 0.74 million SGD or 21.4% to about 4.20 million SGD for the year ended December 31, 2020, due to lease renewals[28]. - The group recorded losses of approximately SGD 2.00 million and SGD 2.87 million for the years ended December 31, 2020, and 2019, respectively, primarily due to the impact of COVID-19 on overall revenue[33]. Business Strategy and Operations - The company plans to continue expanding its restaurant business in Singapore and its bakery chain in Malaysia to enhance brand awareness and service quality[21]. - The company has paused all expansion plans due to the long-term weakness in the restaurant industry in Singapore and Malaysia exacerbated by the COVID-19 pandemic[22]. - The company aims to maintain healthy cash flow by closely monitoring expenses during the economic downturn[18]. - The company has adopted more technology, such as QR code menus and ordering systems, to improve operational efficiency[18]. - The company encourages shareholders to remain patient and confident in the management team as it strives to protect stakeholder interests[18]. - Rental and related expenses decreased significantly from approximately SGD 1.43 million in the year ended December 31, 2019, to about SGD 0.24 million for the year ended December 31, 2020, a reduction of approximately SGD 1.19 million or 83.2%[31]. - Other expenses reduced from approximately SGD 3.14 million for the year ended December 31, 2019, to about SGD 2.25 million for the year ended December 31, 2020, a decrease of approximately SGD 0.89 million or 28.3%[32]. - Cash and bank balances as of December 31, 2020, were approximately SGD 4.65 million, compared to SGD 3.33 million as of December 31, 2019, with 82.9% held in Singapore dollars[34]. - Net cash generated from operating activities for the year ended December 31, 2020, was approximately SGD 4.54 million, which would be approximately SGD 1.68 million after adjusting for IFRS 16 impacts[34]. - The capital expenditure for the year ended December 31, 2020, was approximately SGD 0.42 million, primarily for renovations of the new headquarters and existing restaurants[39]. - The capital-to-debt ratio increased to 46% as of December 31, 2020, compared to 19% as of December 31, 2019[38]. - The net cash flow used in financing activities was SGD 2.16 million, which included repayment of bank loans and lease liabilities[36]. - The net proceeds from the share issuance amounted to approximately HKD 23.7 million, with 76.4% allocated for expanding the restaurant business in Singapore[48]. - The company plans to delay the opening of new restaurants in Singapore until the second half of 2021 due to the adverse business environment caused by COVID-19[55]. - The renovation of the new headquarters was completed in early January 2020, and all headquarters staff began working there in mid-January 2020[56]. - The company has fully utilized funds for upgrading the sales points and CCTV systems in restaurants and retail stores[62]. - The company will continue to hire additional staff at the headquarters to improve administrative efficiency[59]. - Marketing activities and brand exposure initiatives have been funded adequately, with ongoing collaboration with marketing consultants[61]. - The company has suspended and delayed its business expansion plans until the second half of 2021 due to the uncertainty surrounding COVID-19[51]. - The actual use of funds will be determined based on the company's future development[51]. - The company has not utilized HKD 0.2 million for enhancing brand awareness in Singapore and Malaysia, as well as for upgrading IT systems[50]. - The board regularly evaluates the company's business objectives and may adjust plans based on market conditions[51]. Corporate Governance - The company has appointed independent non-executive directors to provide independent judgment on strategy, policy, performance, accountability, and key appointments[74]. - The company has a diverse board with members having extensive experience in various industries including finance, law, and management consulting[81]. - The company is focused on enhancing its operational efficiency and strategic decision-making through experienced leadership[74]. - The company is committed to high standards of corporate governance, believing it is crucial for sustainable growth and enhancing shareholder value[85]. - The board of directors is responsible for overseeing the company's overall management and ensuring the implementation of strategic plans to enhance shareholder value[91]. - The company has adopted a code of conduct for directors' securities trading, aligning with GEM Listing Rules[87]. - The company is actively seeking suitable candidates to fill the vacancy left by the resignation of an independent non-executive director, with a target to find a replacement within three months[86]. - The board consists of both executive and independent non-executive directors, ensuring a balance of experience and expertise in decision-making[93]. - The company has not separated the roles of chairman and CEO, which the board believes allows for more effective strategic planning and decision-making[85]. - Independent non-executive directors provide opinions on strategic and key matters, contributing their rich experience and expertise[93]. - The company maintains proper accounting records to ensure accurate disclosure of its financial position[91]. - The board will continue to review the separation of the chairman and CEO roles at an appropriate time[85]. - All independent non-executive directors have confirmed their independence according to GEM Listing Rules[95]. - The company has maintained a governance structure where the roles of Chairman and CEO are held by the same individual, which the board believes enhances internal leadership and strategic planning efficiency[97]. - The Audit Committee, established on April 4, 2018, consists of three independent non-executive directors and is responsible for reviewing the group's quarterly, interim, and annual performance[98]. - The Remuneration Committee evaluates the performance of directors and senior management and determines their compensation[99]. - The Nomination Committee provides recommendations to the board regarding the appointment of directors and senior management members[100]. - As of December 31, 2020, the board comprised three executive directors and three independent non-executive directors, complying with GEM listing rules[107]. - The board has adopted a diversity policy to ensure a balanced mix of professional knowledge, skills, and experience among its members[103]. - The company has arranged appropriate insurance to protect directors against liabilities arising from corporate activities, in accordance with governance codes[104]. - Related party transactions were regularly reviewed and approved by the Audit Committee during the fiscal year ending December 31, 2020[105]. - The board held at least four regular meetings annually, with active participation from the majority of directors[106]. - The board of directors is responsible for preparing financial statements that fairly reflect the group's business status, with no known significant uncertainties affecting the company's ability to continue as a going concern[115]. - The independent auditor's fee for statutory audit services was SGD 170,000 for the year ended December 31, 2020[118]. - The company has established policies and procedures to identify, assess, and manage significant risks, with the board responsible for maintaining effective risk management and internal control systems[120]. - All directors have received training on the latest updates regarding GEM listing rules to ensure compliance and good corporate governance practices[115]. - The company has not established a corporate governance committee, and the board is responsible for executing corporate governance functions[119]. - The company has a designated company secretary to ensure compliance with board procedures and maintain detailed meeting records[123]. - The company emphasizes adherence to insider trading policies and keeps employees updated on regulatory news[120]. Market Position and Shareholder Relations - The company reported that its five largest customers accounted for less than 30% of total revenue for the year ended December 31, 2020[144]. - The largest supplier and the top five suppliers accounted for approximately 12.0% and 40.0% of total purchases, respectively, compared to 11.4% and 36.5% in the previous year[144]. - The board proposed not to declare any dividends for the year ended December 31, 2020, maintaining a balance between sufficient capital for business development and rewarding shareholders[146]. - The company operates primarily in Singapore's full-service restaurant sector and Malaysia's handcrafted bakery chain[138]. - The company emphasizes the importance of brand recognition, stating that any negative publicity could significantly impact business performance[140]. - The competitive landscape in Singapore and Malaysia is intense, with numerous restaurants and bakeries vying for similar customer bases[141]. - The company has adopted a shareholder communication policy to enhance transparency and investor confidence[135]. - No significant charitable donations were made during the year, consistent with the previous year[148]. - The company did not purchase, sell, or redeem any of its listed securities during the year ended December 31, 2020[152]. - The board acknowledges the need to protect and enhance brand value as part of its business strategy[140]. - Liu Yanzhen holds a beneficial interest of 282,000,000 shares, representing 56.4% of the company's total shares[156]. - The company has adopted a share option scheme since April 4, 2018, allowing participants to purchase shares as an incentive for their contributions[159]. - The maximum number of shares that can be issued under the share option scheme is limited to 10% of the company's issued shares, equating to 50,000,000 shares[164]. - No share options were granted, exercised, or cancelled during the year ended December 31, 2020[165]. - Bright Honor Investment International Limited holds 90,500,000 shares, representing 18.1% of the company's total shares[169]. - The company maintained compliance with GEM listing rules regarding public float as of December 31, 2020[178]. - There were no significant investments, acquisitions, or disposals related to subsidiaries, associates, or joint ventures during the year ended December 31, 2020[197]. - The company reported no available distributable reserves as of December 31, 2020, consistent with the previous year[195]. - The independent non-executive directors confirmed their independence in accordance with GEM listing rules[199]. - The company established a remuneration committee to review the remuneration policy based on operational performance and market practices[175]. - There were no related party transactions that required compliance with GEM listing rules during the year[177]. - The company provided a healthy and safe working environment for employees, with no reported strikes or workplace accidents during the year[192]. - The company has not entered into any management contracts for its business operations during the year[187]. - The company confirmed compliance with the disclosure requirements of GEM listing rules regarding related party transactions[176]. - The company has no significant interests in any business that competes directly or indirectly with its operations[179].

| --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | 0 香港聯合交易所有限公司（「聯交所」）GEM之特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在主板上市的公司帶有較 高投資風險。有意投資的人士應了解投資於該等公司的潛在風險，並應經過審慎周詳的考慮後方作 出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣之證券承受較大的 市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整性亦不發表任何 聲明，並明確表示，概不對因本報告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 本報告的資料乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供有關聚利寶控 股有限公司（「本公司」）的資料；本公司董事（「董事」）願就本報告的資料共同及個別地承擔全部責 任。董事 ...

Financial Performance - For the six months ended June 30, 2020, the company reported a revenue of SGD 4,951 thousand, a decrease of 47.7% compared to SGD 9,457 thousand in the same period of 2019[12]. - The gross profit for the same period was SGD 3,546 thousand, down 46.4% from SGD 6,888 thousand year-on-year[12]. - The company incurred a loss before tax of SGD 2,199 thousand, compared to a loss of SGD 1,280 thousand in the previous year, representing an increase in loss of 71.7%[12]. - The net loss for the period was SGD 2,227 thousand, which is a 70.5% increase from SGD 1,306 thousand in the same period of 2019[12]. - The basic loss per share for the period was SGD 0.42, compared to SGD 0.26 in the previous year, indicating a worsening of the company's financial performance[12]. - The company’s total comprehensive loss for the period was SGD 2,114,000, compared to a total comprehensive loss of SGD 1,325,000 in the same period last year, reflecting a worsening of 59.5%[17]. - The company’s accumulated losses increased to SGD 10,076,000 as of June 30, 2020, compared to SGD 4,977,000 at the beginning of the year[17]. - Revenue decreased by approximately SGD 4.51 million or 47.6% to about SGD 4.95 million for the six months ended June 30, 2020, compared to SGD 9.46 million for the same period in 2019, primarily due to the impact of COVID-19[65]. - The group recorded a loss of approximately SGD 2.23 million for the six months ended June 30, 2020, compared to a loss of SGD 1.31 million for the same period in 2019, primarily due to the impact of COVID-19[74]. Revenue Breakdown - Revenue from the restaurant business for the six months ended June 30, 2020, was SGD 3,632,000, a decrease of 48.6% compared to SGD 7,039,000 for the same period in 2019[29]. - Revenue from the artisanal bakery segment for the six months ended June 30, 2020, was SGD 1,309,000, down 45.6% from SGD 2,402,000 in the same period of 2019[29]. - Total revenue for the six months ended June 30, 2020, was SGD 4,951,000, down 48.4% from SGD 9,457,000 in the same period of 2019[29]. Expenses and Cost Management - Employee benefits expenses totaled SGD 2,814 thousand for the six months, significantly higher than SGD 3,512 thousand in the same period of 2019[12]. - The company reported total other expenses of SGD 1,200 thousand, down from SGD 1,457 thousand year-on-year, indicating some cost control measures[12]. - Cost of goods sold decreased by approximately SGD 1.16 million or 45.3% to about SGD 1.41 million for the six months ended June 30, 2020, consistent with the revenue decline[66]. - Employee benefits expenses decreased by approximately SGD 0.70 million or 19.9% to about SGD 2.81 million for the six months ended June 30, 2020, due to cost-saving measures[68]. - Rental and related expenses decreased significantly by approximately SGD 0.69 million or 81.9% to about SGD 0.15 million for the six months ended June 30, 2020, due to reduced contributions from short-term leases[71]. Assets and Liabilities - Total non-current assets decreased to SGD 13,309,000 as of June 30, 2020, down from SGD 14,491,000 as of December 31, 2019, representing a decline of approximately 8.2%[14]. - Current assets totaled SGD 5,106,000, a decrease of 28.7% from SGD 7,165,000 in the previous year[14]. - Total liabilities amounted to SGD 12,443,000, slightly down from SGD 12,570,000 as of December 31, 2019[14]. - The company's equity decreased to SGD 5,972,000 from SGD 8,086,000, a decline of approximately 26.1%[14]. - Cash and cash equivalents decreased to SGD 2,242,000 from SGD 3,328,000, reflecting a reduction of 32.6%[19]. - Trade receivables net amount decreased to SGD 80,000 from SGD 114,000, a reduction of approximately 30%[47]. - Other payables decreased significantly to SGD 419,000 from SGD 1,710,000, a decline of approximately 75%[52]. - Total borrowings decreased to SGD 1,118,000 from SGD 1,512,000, a reduction of about 26%[55]. Cash Flow - Operating cash flow increased to SGD 559,000, up from SGD 476,000 in the previous year, marking a growth of 17.4%[19]. - Net cash flow from operating activities was approximately SGD 0.56 million for the six months ended June 30, 2020, primarily due to adjustments for depreciation of right-of-use assets[76]. - The company had a net cash outflow from financing activities of SGD 2,003,000, compared to SGD 1,868,000 in the previous year, indicating an increase in cash used for financing[19]. - Financing activities used net cash flow of SGD 2.00 million, primarily for repaying bank loans and lease liabilities[77]. Strategic Initiatives - The company is focusing on strategic initiatives to improve operational efficiency and explore new market opportunities moving forward[12]. - The company plans to extend the property handover date for a new restaurant under the "Central Hong Kong Café" brand to the fourth quarter of 2020 due to COVID-19 restrictions[91]. - The company has utilized funds for upgrading IT systems in restaurants and retail stores[106]. - The company has completed renovations for new offices and has begun operations in the new headquarters as of January 2020[100]. Shareholder Information - The company did not recommend any interim dividend for the six months ended June 30, 2020, consistent with the same period in 2019[41]. - The board expresses gratitude to shareholders, business partners, and customers for their ongoing support[129]. - The management team and employees are acknowledged for their efforts and contributions during the reporting period[129]. Employee Information - The company employed 222 full-time employees in Singapore and Malaysia as of June 30, 2020, down from 290 as of December 31, 2019[85].