PACIFIC LEGEND GROUP LIMITED 澄清公告 綜合損益及其他全面收益表（摘要） | --- | --- | --- | --- | --- | |--------------------------------------------------------------------------------------------------------------|---------------------------------------|-----------------------------|----------|-------| | | 二 零 二三 年 \n經 審 核 \n年度 業 績 | 的 未 經 審 核 \n年度 業 績 | 差 異 | 附 註 | | | 千 港 元 | 千 港 元 | 千 港 元 | | | | | | | | | 其 他 收 入 、 收 益 及 虧 損 淨 額 | | 2,707 1,986 721 | | 1 | | 管 理 及 其 他 經 營 開 支 | | (93,090) (96,089) 2,999 | | 2 | | 計 提 預 期 ...

Financial Performance - Total revenue for the year 2023 was HKD 1,986,000, a decrease of 36.3% compared to HKD 2,707,000 in the previous year[14]. - For the fiscal year ending December 31, 2023, the company's revenue was approximately HKD 250.6 million, an increase of about HKD 46.6 million or 22.8% compared to approximately HKD 204.0 million for the fiscal year ending December 31, 2022[30]. - The company's loss attributable to owners for the fiscal year was approximately HKD 33.4 million, compared to a loss of approximately HKD 46.4 million in the previous year[41]. - The gross profit for the fiscal year increased to approximately HKD 127.1 million, representing a growth of about 19.5% from approximately HKD 106.4 million in the previous year[41]. - Revenue from furniture sales decreased by approximately HKD 17.3 million or 11.7% to about HKD 130.9 million, primarily due to declines in retail and franchise sales in Hong Kong and Dubai[48]. - Furniture rental revenue increased by approximately HKD 4.7 million or 22.8% to about HKD 25.3 million, mainly from new leasing contracts with several embassies in the UAE[51]. - Project engineering revenue surged over twofold to approximately HKD 94.4 million from about HKD 35.2 million, driven by the completion of multiple projects in Hong Kong[52]. - The group's gross profit rose by approximately HKD 20.7 million or 19.5% to about HKD 127.1 million, with an overall gross margin of approximately 50.7%, down from about 52.2% the previous year[53]. - The group recorded a loss of approximately HKD 35.9 million for the year, down from HKD 47.9 million in the previous year[61]. Audit and Compliance - The audited annual performance for the year ending December 31, 2023, has been reviewed by the board of directors and the audit committee[3]. - The audit procedures have addressed unresolved matters related to debtors, creditors, and bank confirmations, ensuring the accuracy of financial data[5]. - The company has engaged independent valuers to assess its assets, ensuring compliance with relevant accounting standards[11]. - The financial report indicates adjustments related to the fair value of financial assets and liabilities, impacting overall financial performance[17]. - The board does not recommend the distribution of a final dividend for the fiscal year ending December 31, 2023[30]. - The company appointed a new auditor, Zhongzhixin (Hong Kong) CPA Limited, following the resignation of its previous auditor[103]. - The Audit Committee reviewed the consolidated financial statements for the year ending December 31, 2023, and confirmed compliance with applicable accounting standards and GEM listing rules[200]. Strategic Focus and Future Plans - The company is focusing on strategic adjustments in management expenses and revenue recognition to enhance financial stability[17]. - Future strategies include a customer-centric approach, investment in innovative solutions, and expansion into new markets while enhancing online capabilities[36]. - The company aims to leverage technology such as AI, virtual reality, and augmented reality to enhance the shopping experience[36]. - The company strategically shifted its focus in Hong Kong and the UAE from retail to project engineering and furniture leasing due to market challenges[40]. - The group plans to manage cash flow prudently and may consider not renewing existing retail leases while exploring new locations[43]. - The group anticipates increased demand for residential properties in Hong Kong following the government's announcement to lift demand management measures starting February 28, 2024[43]. Operational Adjustments - Management and other operating expenses increased to HKD 96,089,000 from HKD 93,090,000, reflecting a rise of 3.2%[14]. - The provision for expected credit losses decreased significantly to HKD 3,453,000 from HKD 9,652,000, a reduction of 64.2%[14]. - The impairment loss for the year was HKD 9.2 million, a decrease from HKD 21.3 million in the previous year[58]. - Trade receivables increased to HKD 38.1 million from HKD 16.4 million year-on-year, attributed to new trade receivables from confirmed sales in Dubai projects[62]. - The company's cash and cash equivalents increased to approximately HKD 23.3 million from HKD 17.8 million year-on-year[65]. - The debt-to-equity ratio increased to approximately 30.1% from 19.2% due to increased bank loans for UAE projects[66]. Shareholder and Capital Management - The company completed three share placements in 2023, raising net proceeds of HKD 13.4 million, HKD 17.6 million, and HKD 1.7 million respectively[41]. - The company raised approximately HKD 13.39 million from the placement of 264,000,000 new shares at a net price of HKD 0.051 per share in January 2023[77]. - In June 2023, the company raised approximately HKD 17.59 million from the placement of 230,700,000 new shares at a net price of HKD 0.076 per share[78]. - The August 2023 placement raised approximately HKD 1.67 million from the placement of 8,610,000 new shares at a net price of HKD 0.194 per share[79]. - The company has not utilized approximately HKD 23.6 million of the net proceeds from its listing as of December 31, 2023[74]. Governance and Compliance - The company has established a governance framework to assess and manage risks effectively[183]. - The board consists of experienced members, with an average service time of 4 years among executive directors and senior management[182]. - The company has complied with all corporate governance code provisions during the reporting period[176]. - The independent non-executive directors must constitute at least one-third of the board, with at least one possessing relevant professional qualifications[193]. - The company has received annual confirmations from all directors stating that they have not engaged in any competitive activities with the group, ensuring no conflicts of interest exist[147]. - The company has established a framework to protect its interests in the UAE, ensuring compliance with local regulations while maintaining operational control[153]. Environmental and Social Responsibility - The company is committed to sustainability and has implemented measures to reduce its environmental footprint, including responsible sourcing and energy-saving practices[35]. - The environmental policy and compliance with relevant laws and regulations are discussed, highlighting the company's commitment to stakeholders[119]. - The company emphasizes the importance of diversity in its workforce, attracting and retaining talent from a broad talent pool[197]. - The company has achieved a gender diversity ratio of approximately 45% female and 55% male employees as of December 31, 2023[196].

Financial Performance - For the year ended December 31, 2023, the group's revenue was approximately HKD 250.6 million, an increase of about HKD 46.6 million or 22.8% compared to the revenue of approximately HKD 204.0 million for the year ended December 31, 2022[9]. - The group's loss (after tax) for the year ended December 31, 2023, was approximately HKD 33.4 million, which included a non-current asset impairment loss of HKD 9.2 million, compared to a loss of approximately HKD 47.9 million for the year ended December 31, 2022, which included a non-current asset impairment loss of approximately HKD 21.3 million[9]. - The gross profit rose from approximately HKD 106.4 million to about HKD 127.1 million, representing a growth of approximately 19.5%[20]. - Revenue from furniture sales decreased by approximately 11.7% to about HKD 130.9 million, primarily due to declines in retail and franchise sales in Hong Kong and Dubai[27]. - Furniture rental revenue increased by approximately 22.8% to about HKD 25.3 million, driven by new leasing contracts with several embassies in the UAE[30]. - Project engineering revenue surged over twofold to approximately HKD 94.4 million, significantly boosted by multiple completed projects in Hong Kong[31]. - The overall gross margin decreased from approximately 52.2% to about 50.7%, mainly due to the increased proportion of project engineering revenue, which has a lower profit margin[32]. - Other income, gains, and losses decreased by approximately 72.4% from about HKD 9.8 million to approximately HKD 2.7 million due to increased fair value losses on financial assets and reductions in various subsidies and rent concessions[34]. - Sales and distribution costs increased by approximately 7.4% from about HKD 47.4 million to approximately HKD 50.9 million, primarily due to increased commission expenses related to project engineering business volume[35]. - Management and other operating expenses rose by approximately 6.9% from about HKD 87.1 million to approximately HKD 93.1 million, mainly due to increased director remuneration[36]. - The company recorded a loss of approximately HKD 35.9 million for the year, an improvement from a loss of about HKD 47.9 million in the previous year[40]. Sustainability and Innovation - The company has committed to sustainability measures, integrating responsible sourcing and energy-saving practices throughout its operations[14]. - The company will further enhance its environmental practices and explore renewable energy alternatives as part of its sustainability commitment[15]. - The company aims to invest in innovative solutions utilizing technology, including artificial intelligence and virtual reality, to enhance the shopping experience[15]. Market Strategy and Expansion - The company intends to expand into new markets and selectively grow its physical presence while strengthening its online capabilities[15]. - The company plans to shift its focus in Hong Kong and the UAE towards project engineering and furniture rental businesses due to challenging retail conditions[20]. - The company aims to explore organic growth opportunities and potential acquisitions to further expand its business in the UAE and Hong Kong[22]. - The Hong Kong government announced the cancellation of demand management measures for residential properties starting February 28, 2024, which is expected to increase demand for home decoration and renovation services[22]. Capital and Financing - The company completed three share placements in 2023, raising net proceeds of HKD 13.4 million, HKD 17.6 million, and HKD 1.7 million respectively[20]. - The company raised approximately HKD 13.39 million from the January 2023 placement, with a net price of HKD 0.051 per share[56]. - The June 2023 placement raised approximately HKD 17.59 million, with a net price of HKD 0.076 per share[57]. - The August 2023 placement raised approximately HKD 1.67 million, with a net price of HKD 0.194 per share[58]. - The company has revised the allocation of the unused proceeds, with specific amounts designated for retail network expansion in mainland China and the UAE totaling HKD 28.38 million[55]. - The company plans to enhance its online store and IT capabilities with an allocation of HKD 3.89 million[55]. - The company has no significant capital commitments or contingent liabilities as of December 31, 2023[50][52]. Governance and Compliance - The company appointed Zhongzhixin (Hong Kong) CPA Limited as the new auditor effective March 18, 2024, following the resignation of Dahua Ma Shiyun CPA Limited[82]. - The company has established a governance framework to assess and manage risks effectively[162]. - The board has confirmed compliance with the GEM listing rules regarding the independence of non-executive directors[159]. - The company is committed to high standards of corporate governance and compliance with regulatory requirements[195]. - The company has not established an internal audit function this year, relying instead on an external risk consulting firm to review internal control systems[193]. Employee and Management - As of December 31, 2023, the total employee cost was approximately HKD 72.8 million, an increase from HKD 62.2 million in the previous year[65]. - The group has a total of 156 employees as of December 31, 2023, a slight decrease from 159 employees in the previous year[65]. - Approximately 45% of the company's employees, including senior management, are women, reflecting the company's commitment to gender diversity[175]. - The board consists of 5 executive directors, 1 non-executive director, and 5 independent non-executive directors, ensuring a balanced governance structure[177]. Shareholder Information - The company has at least 25% of its issued shares held by the public, meeting the GEM listing rules requirement[148]. - The largest customer accounts for 20% of total sales, while the top five customers together account for 43% of total sales[146]. - The largest supplier accounts for 16% of total cost of sales, and the top five suppliers together account for 44% of total cost of sales[146]. - Shareholders holding at least 10% of the paid-up capital have the right to request a special general meeting[200].

Financial Performance - The audited annual performance for the year ending December 31, 2023, has been reviewed by the board of directors and the audit committee[3]. - Total revenue for the year 2023 was HKD 1,986,000, a decrease of 36% compared to the previous year[14]. - Management and other operating expenses amounted to HKD 96,089,000, an increase of 3% from HKD 93,090,000 in the previous year[14]. - The expected credit loss provision was HKD 3,453,000, significantly reduced from HKD 9,652,000 in the previous year, indicating improved credit quality[14]. - The group reported a loss (after tax) for the year of approximately HKD 33.4 million, down from a loss of approximately HKD 47.9 million in the previous year[30]. - The group's gross profit increased from approximately HKD 106.4 million to approximately HKD 127.1 million, representing a growth of about 19.5%[41]. - The group recorded a loss of approximately HKD 35.9 million for the year, down from HKD 47.9 million in the previous year[61]. - The impairment loss for the year was HKD 9.2 million, a decrease from HKD 21.3 million in the previous year[58]. - The company reported a reserve available for distribution to shareholders of HKD 10,992,000 as of December 31, 2023, down from HKD 15,039,000 in 2022[123]. Revenue Breakdown - For the year ended December 31, 2023, the group's revenue was approximately HKD 250.6 million, an increase of about HKD 46.6 million or 22.8% compared to approximately HKD 204.0 million for the year ended December 31, 2022[30]. - Revenue from furniture sales decreased by approximately HKD 17.3 million or 11.7% to about HKD 130.9 million, primarily due to declines in retail and franchise sales in Hong Kong and Dubai[48]. - Furniture rental revenue increased by approximately HKD 4.7 million or 22.8% to about HKD 25.3 million, mainly driven by new leasing contracts with several embassies in the UAE[51]. - Project engineering revenue surged over twofold to approximately HKD 94.4 million from about HKD 35.2 million, attributed to the completion of multiple projects in Hong Kong[52]. Audit and Compliance - There are unresolved matters related to audit confirmations from debtors, creditors, and banks, which may affect the financial performance[5]. - The audit procedures include verification of significant balances with original contracts or invoices to ensure no material discrepancies[7]. - The company has engaged independent valuers to assess its assets, ensuring compliance with relevant accounting standards[11]. - The financial report indicates adjustments related to the fair value of financial assets and liabilities, impacting overall financial performance[17]. - The Audit Committee reviewed the consolidated financial statements for the year ended December 31, 2023, and confirmed compliance with applicable accounting standards and GEM listing rules[200]. Strategic Focus and Future Outlook - The company is focusing on improving its operational efficiency and reducing management expenses in the upcoming fiscal year[17]. - Future outlook includes potential market expansion and the introduction of new products and technologies to enhance revenue streams[17]. - The company strategically shifted its focus in Hong Kong and the UAE towards project engineering and furniture leasing businesses due to challenges in the retail sector[40]. - Future strategic priorities include a customer-centric approach, innovation and digitalization, market expansion, and enhancing sustainable practices[36]. Shareholder and Capital Management - The company plans to resume trading of its shares on June 3, 2024, after a temporary suspension[18]. - The board does not recommend the distribution of a final dividend for the year ended December 31, 2023[30]. - The company raised net proceeds of HKD 13.4 million, HKD 17.6 million, and HKD 1.7 million from three share placements completed on February 6, July 27, and September 13, 2023, respectively[41]. - The company has not purchased, sold, or redeemed any of its securities during the year[164]. Governance and Management - The board consists of experienced members, with an average service time of 4 years among executive directors and senior management[182]. - The company has established a governance framework to assess and manage risks effectively[183]. - The board is responsible for setting the strategic direction and overseeing management performance[181]. - The company has complied with all corporate governance code provisions during the reporting period[176]. - The company has implemented a board diversity policy, achieving measurable goals related to diversity in skills, experience, and gender representation[191]. Environmental and Social Responsibility - The company is committed to sustainability and has implemented measures to reduce its environmental footprint, including responsible sourcing and energy-saving practices[35]. - The environmental policy and compliance with laws and regulations are discussed in the ESG report, highlighting the company's commitment to sustainability[119]. - No charitable donations were made by the group during the year, consistent with the previous year[170].

Financial Performance - For the year ended December 31, 2023, the group's revenue was approximately HKD 250.6 million, an increase of approximately HKD 46.6 million or 22.8% compared to HKD 204.0 million for the year ended December 31, 2022[9]. - The loss for the year (after tax) was approximately HKD 33.4 million, including an impairment loss of non-current assets of HKD 9.2 million, compared to a loss of approximately HKD 47.9 million for the year ended December 31, 2022, which included an impairment loss of approximately HKD 21.3 million[9]. - The gross profit for the year was approximately HKD 127.1 million, compared to HKD 106.4 million for the previous year, reflecting an increase in gross profit margin[10]. - The total comprehensive loss for the year was approximately HKD 32.8 million, a decrease from HKD 48.7 million in the previous year[11]. - Basic and diluted loss per share for the year was HKD 19.83, compared to HKD 35.13 for the previous year[11]. - The company reported a net loss before tax of approximately HKD 33.4 million, a reduction from HKD 47.9 million in the previous year[10]. - The company reported a net loss of HKD 33,433,000 for 2023, compared to a net loss of HKD 47,888,000 in 2022, reflecting an improvement of about 30.2%[39]. - The impairment loss on non-financial assets (excluding goodwill) was HKD 9,182,000 for 2023, compared to HKD 21,268,000 in 2022, indicating a reduction of approximately 56.8%[39]. - The company recorded a loss attributable to shareholders of approximately HKD 33.4 million, an improvement from a loss of approximately HKD 46.4 million in the previous year[65]. Revenue Breakdown - Revenue from customer contracts at a point in time was HKD 130,888,000 for 2023, down from HKD 148,232,000 in 2022, indicating a decrease of about 11.7%[39]. - Revenue from hotel services for the year was HKD 94,420,000, compared to HKD 35,183,000 in the previous year, showing a significant increase of approximately 168.5%[38]. - Revenue from external customers in Hong Kong was HKD 149,682,000 in 2023, up from HKD 124,852,000 in 2022, representing an increase of about 19.9%[40]. - Revenue from furniture sales decreased by approximately HKD 17.3 million or 11.7% to about HKD 130.9 million, primarily due to declines in retail sales in Hong Kong and Dubai[72]. - Furniture rental revenue increased by approximately HKD 4.7 million or 22.8% to about HKD 25.3 million, mainly from new rental contracts in the UAE[77]. - Project engineering revenue surged over twofold to approximately HKD 94.4 million from about HKD 35.2 million, driven by the completion of multiple projects in Hong Kong[78]. Expenses and Costs - The total operating expenses for the year were approximately HKD 96.1 million, compared to HKD 87.1 million in the previous year, indicating increased operational costs[10]. - Selling and distribution costs increased by approximately HKD 3.5 million or 7.4% to about HKD 50.9 million, primarily due to increased commission expenses from project engineering business[82]. - Management and other operating expenses rose by approximately HKD 9.0 million or 10.3% to about HKD 96.1 million, mainly due to increased director remuneration[83]. - Financial expenses increased to approximately HKD 2.9 million from HKD 1.1 million in the previous year, primarily due to increased bank loans for UAE operations[87]. Assets and Liabilities - Total assets increased to HKD 145,971,000 in 2023 from HKD 116,153,000 in 2022, representing a growth of approximately 25.6%[13]. - Current liabilities rose to HKD 126,596,000 in 2023, up from HKD 74,526,000 in 2022, indicating an increase of about 69.9%[14]. - The total liabilities increased to HKD 120,828,000 in 2023 from HKD 74,526,000 in 2022, representing a rise of about 62.0%[14]. - The company's equity attributable to owners decreased to HKD 34,747,000 in 2023 from HKD 37,501,000 in 2022, a decline of approximately 7.4%[14]. - The company reported a net asset value of HKD 34,244,000 in 2023, down from HKD 39,982,000 in 2022, indicating a decrease of approximately 14.0%[14]. Corporate Governance and Compliance - The company has adopted a set of guidelines regarding directors' securities trading, confirming that all directors complied with the trading standards throughout the year[115]. - The company will continue to review its corporate governance structure to assess whether the roles of Chairman and CEO should be separated[107]. - The group has not purchased, sold, or redeemed any of its securities during the year ending December 31, 2023[113]. - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2023, and confirmed compliance with applicable accounting standards and GEM listing rules[122]. - The previous auditor, Dahua Ma Shi Yun CPA Limited, resigned due to unresolved issues during the audit process, and Chang Ying was appointed as the new auditor effective March 18, 2024[126]. Future Outlook and Strategy - The company aims to enhance its market presence and explore new strategies for growth in the upcoming fiscal year[9]. - The company plans to expand its market presence and enhance product offerings in the furniture rental and design consultation services[16]. - The group anticipates an overall increase in demand for residential properties in Hong Kong following the government's removal of demand management measures[70]. - The group plans to continue organic growth and seek suitable acquisitions to further expand its business in the coming years[70]. - The company is considering not renewing leases for existing retail stores and will reassess new locations for retail stores[69]. - The company expects ongoing challenges in the operating environment due to inflation, interest rate hikes, and global economic pressures[69].

Financial Performance - For the nine months ended September 30, 2023, the group recorded unaudited revenue of approximately HKD 186.3 million, an increase of approximately HKD 43.3 million or 30.3% compared to HKD 143.0 million for the same period in 2022[6]. - The unaudited loss (after tax) for the nine months ended September 30, 2023, was approximately HKD 8.4 million, a significant improvement from a loss of approximately HKD 17.7 million for the same period in 2022[6]. - Basic and diluted loss per share for the nine months ended September 30, 2023, was HKD 5.22, compared to HKD 13.41 for the same period in 2022[6]. - The group reported a gross profit of HKD 96.95 million for the nine months ended September 30, 2023, compared to HKD 77.76 million for the same period in 2022, reflecting a gross margin improvement[8]. - Operating loss for the nine months ended September 30, 2023, was HKD 7.72 million, a significant reduction from HKD 17.03 million for the same period in 2022[8]. - The total comprehensive loss for the nine months ended September 30, 2023, was HKD 8.35 million, compared to HKD 15.53 million for the same period in 2022[8]. - The company reported a pre-tax loss of HKD 8,278 thousand for the three months and HKD 9,732 thousand for the nine months ended September 30, 2023[21][23]. - The company reported a pre-tax loss of HKD 8,401,000 for the nine months ended September 30, 2023, compared to a loss of HKD 17,704,000 for the same period in 2022[37]. Revenue Breakdown - For the three months ended September 30, 2023, total revenue was HKD 50,325 thousand, with furniture and home accessories sales contributing HKD 31,401 thousand, rental income HKD 8,789 thousand, and hotel services HKD 10,135 thousand[21]. - For the nine months ended September 30, 2023, total revenue reached HKD 186,258 thousand, with furniture and home accessories sales at HKD 93,089 thousand, rental income HKD 21,624 thousand, and hotel services HKD 71,545 thousand[23]. - Revenue from external customers in Hong Kong for the nine months ended September 30, 2023, was HKD 123,229,000, up 40% from HKD 87,988,000 in 2022[32]. - Furniture sales revenue decreased by approximately 9.4% to HKD 93.1 million in Q3 2023, primarily due to a decline in retail sales in Hong Kong[42]. - Project engineering revenue surged approximately twofold to HKD 71.5 million in Q3 2023, compared to HKD 23.6 million in Q3 2022, driven by the completion of several projects[44]. Shareholder Information - The company has fully utilized the proceeds from the placements as of September 30, 2023[55][56][58]. - Following the share consolidation on July 28, 2023, the total number of issued shares was adjusted from 1,814,700,000 shares to 181,470,000 shares[57]. - As of September 30, 2023, the total number of issued shares was 190,080,000 after the share consolidation[63]. - John Warren MCLENNAN holds 41,450,000 shares, representing 21.81% of the company[60]. - Huang Yongwen holds 33,237,000 shares, representing 17.49% of the company[60]. - Double Lions Limited is a major shareholder with a beneficial interest of 41,450,000 shares, equating to 21.81%[66]. - The largest shareholder group, including Alison Siobhan Bailey and James Seymour Dickson Leach, collectively holds 40.48% of Double Lions Limited[1]. Corporate Governance - The audit committee, consisting of three independent non-executive directors, has reviewed the financial report[76]. - The company has adopted the corporate governance code and confirmed compliance, although there is a deviation regarding the roles of the chairman and CEO[78]. - The board consists of three executive directors and four independent non-executive directors, ensuring adequate checks and balances[78]. - The company has not granted any rights to directors for acquiring shares or debt securities during the reporting period[71]. - The company did not purchase, sell, or redeem any of its securities during the nine months ended September 30, 2023[72]. - No loans were provided to any entities or associated companies as of September 30, 2023[78]. - The company has not disclosed any competitive interests that could affect its business operations[74]. Future Plans and Investments - The company plans to expand its retail network in mainland China and the UAE, with an estimated expenditure of HKD 12.3 million for this purpose, expected to be completed by the end of December 2024[54]. - The company aims to enhance its online store and IT capabilities with an investment of HKD 3.0 million, also targeted for completion by the end of December 2024[54]. - Management expects strong demand in project engineering due to increased activity from property developers in Hong Kong, although significant orders are likely to materialize post-2024[41]. - The company plans to utilize the proceeds from placements for potential mergers and acquisitions as well as for general operational funding[55][56][58]. Dividends and Equity - The board did not recommend the payment of an interim dividend for the nine months ended September 30, 2023[6]. - The company did not declare any dividends for the nine months ended September 30, 2023, consistent with the previous year[38]. - The group’s total equity as of September 30, 2023, was approximately HKD 63.26 million, a decrease from HKD 73.17 million as of the previous year[9].

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本 公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確 表示，概不對因本公告全部或任何部份內容而產生或因依賴該等內容而 引致的任何損失承擔任何責任。 PACIFIC LEGEND GROUP LIMITED （於開曼群島註冊成立的有限責任公司） （股份代號：8547） 截 至 二 零 二 三 年 九 月 三 十 日 止 九 個 月 期 間 之 未 經 審 核 第 三 季 度 綜 合 業 績 公 告 Pacific Legend Group Limited（「本公司」）董事會（「董事會」）欣然宣佈本公司及 其附屬公司截至二零二三年九月三十日止九個月期間之未經審核第三季 度 業 績。本 公 告 列 載 本 公 司 二 零 二 三 年 第 三 季 度 報 告 報 告 全 文，乃 符 合 聯交所GEM證券上市規則（「GEM上市規則」）中有關季度業績初步公告附 載的資料之相關規定。本公司二零二三年第三季度報告將於二零二三年 十 一 月 十 四 日 上 載 於 聯 交 所 網 站www.hkexnews.hk 及 本 公 司 的 網 站 www. ...

Financial Performance - For the six months ended June 30, 2023, the group recorded unaudited revenue of approximately HKD 135.9 million, an increase of approximately HKD 53.7 million or 65.3% compared to HKD 82.2 million for the same period in 2022[6]. - The unaudited loss after tax for the six months ended June 30, 2023, was approximately HKD 1.5 million, a significant improvement from a loss of approximately HKD 13.4 million for the same period in 2022[6]. - The basic and diluted loss per share for the six months ended June 30, 2023, was less than HKD 0.01, compared to HKD 1.01 for the same period in 2022[6]. - The group reported a gross profit of HKD 68.8 million for the six months ended June 30, 2023, representing a gross margin of approximately 50.7%, compared to HKD 48.3 million and a gross margin of 58.8% for the same period in 2022[8]. - The group’s operating loss for the six months ended June 30, 2023, was HKD 0.1 million, a significant improvement from an operating loss of HKD 13.0 million for the same period in 2022[8]. - The company reported a pre-tax profit of HKD 3,535,000, despite significant unallocated corporate expenses of HKD 34,411,000[23]. - The company reported a pre-tax loss of HKD 1,454,000 for the six months ended June 30, 2023, an improvement from a pre-tax loss of HKD 13,351,000 in the same period of 2022[29]. - The company's loss attributable to equity shareholders for the first half of 2023 was approximately HKD 70,000, a significant reduction from a loss of approximately HKD 13.4 million in the first half of 2022, primarily due to growth in gross profit[81]. Revenue Breakdown - Total revenue for the six months ended June 30, 2023, was HKD 85,543,000, with contributions from furniture and home accessories sales at HKD 26,705,000, furniture and home accessories rentals at HKD 8,455,000, and project and hotel services at HKD 50,383,000[23]. - Revenue from furniture and home decor sales was HKD 61,688,000 for the first half of 2023, compared to HKD 35,855,000 for the same period in 2022, marking an increase of 72%[29]. - Revenue from furniture rental business increased by approximately 37.5% to HKD 12.8 million in the first half of 2023, driven by new rental contracts from several embassies in the UAE[73]. - Revenue from external customers in Hong Kong for the three months ended June 30, 2023, was HKD 63,397,000, up from HKD 27,786,000 in the same period of 2022, reflecting a growth of 128%[31]. - The company's project engineering revenue surged approximately 7.4 times to HKD 61.4 million in the first half of 2023, significantly contributing to the second quarter's profit and loss[73]. Assets and Liabilities - Total assets as of June 30, 2023, amounted to HKD 110.6 million, a decrease from HKD 116.2 million as of December 31, 2022[9]. - The group’s net asset value increased to HKD 53.3 million as of June 30, 2023, compared to HKD 40.0 million as of December 31, 2022[9]. - The group’s cash and cash equivalents decreased to HKD 10.7 million as of June 30, 2023, from HKD 17.8 million as of December 31, 2022[9]. - The group’s total liabilities decreased to HKD 65.9 million as of June 30, 2023, from HKD 74.5 million as of December 31, 2022[9]. - As of June 30, 2023, trade and other receivables amounted to HKD 50.1 million, up from HKD 48.6 million as of December 31, 2022, with trade receivables increasing to HKD 18.5 million from HKD 16.4 million[82]. Shareholder Information - The company issued 230,700,000 new shares at a price of HKD 0.078 per share, raising approximately HKD 17.6 million net of expenses, with a premium of about 34.48% over the market price[64]. - Following the share consolidation on July 28, 2023, the total number of issued shares was reduced from 1,814,700,000 to 181,470,000[65]. - John Warren MCLENNAN holds 414,500,000 shares, representing 26.17% of the company, while Huang Yongwen holds 257,370,000 shares, representing 16.25%[100]. - The total number of issued shares as of June 30, 2023, was 1,584,000,000[100]. Corporate Governance - The board of directors did not recommend the payment of an interim dividend for the six months ended June 30, 2023[6]. - The company has adopted a code of conduct for directors regarding securities trading, confirming compliance with the GEM Listing Rules during the six-month period ending June 30, 2023[39]. - The board consists of four executive directors, one non-executive director, and five independent non-executive directors, ensuring a proper balance of power and oversight[116]. - The audit committee is composed of three independent non-executive directors, with Mr. Su Wei Cheng serving as the chairman, ensuring appropriate financial oversight[113]. - The company has complied with the corporate governance code as per GEM Listing Rules, although there is a deviation regarding the dual role of the chairman and CEO held by Mr. McLennan[116]. Future Outlook - The company is focusing on expanding its market presence in furniture and home accessories, alongside enhancing its project and hotel service offerings[14]. - Future outlook includes continued investment in new product development and technology to drive growth in the competitive market[14]. - The company plans to focus on customer needs in various regions and markets, developing products and services accordingly for the remainder of 2023[71].

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本 公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確 表示，概不對因本公告全部或任何部份內容而產生或因依賴該等內容而 引致的任何損失承擔任何責任。 PACIFIC LEGEND GROUP LIMITED （於開曼群島註冊成立的有限責任公司） （股份代號：8547） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 期 間 之 未 經 審 核 中 期 綜 合 業 績 公 告 Pacific Legend Group Limited（「本公司」）董事會（「董事會」）欣然宣佈本公司及 其附屬公司截至二零二三年六月三十日止六個月期間之未經審核中期業 績。本 公 告 列 載 本 公 司 二 零 二 三 年 中 期 報 告 報 告 全 文，乃 符 合 聯 交 所 GEM證券上市規則（「GEM上市規則」）中有關季度業績初步公告附載的資 料之相關規定。本公司二零二三年中期報告將於二零二三年八月十一日 上載於聯交所網站www.hkexnews.hk 及本公司的網站www.pacificlegendgroup.com ， 而本公司之二零 ...

Financial Performance - For the three months ended March 31, 2023, the group recorded unaudited revenue of approximately HKD 50.4 million, an increase of approximately HKD 11.8 million or 30.53% compared to HKD 38.6 million for the same period in 2022[5] - The unaudited loss for the three months ended March 31, 2023, was approximately HKD 5.0 million, a decrease from a loss of approximately HKD 8.8 million for the same period in 2022[5] - Basic and diluted loss per share for the three months ended March 31, 2023, was HKD 0.34, compared to HKD 0.67 for the same period in 2022[5] - The group reported a gross profit of HKD 26.9 million for the three months ended March 31, 2023, compared to HKD 21.1 million for the same period in 2022, reflecting an increase in gross margin[7] - Operating loss for the three months ended March 31, 2023, was HKD 4.2 million, significantly improved from an operating loss of HKD 8.7 million for the same period in 2022[7] - Total comprehensive loss for the three months ended March 31, 2023, was HKD 5.2 million, compared to HKD 8.8 million for the same period in 2022[8] - The company reported a pre-tax loss of HKD 4,989,000 for the three months ended March 31, 2023, compared to a pre-tax loss of HKD 8,822,000 for the same period in 2022, representing a 43.5% improvement[27] - The loss attributable to equity shareholders for Q1 2023 was approximately HKD 5.0 million, a decrease from a loss of HKD 8.8 million in Q1 2022, primarily due to gross profit growth and savings in management and operating expenses[45] Revenue Breakdown - Revenue from furniture and home accessories sales was HKD 34,983,000, while rental income from furniture and home accessories was HKD 4,380,000, and hotel services contributed HKD 11,027,000[20] - Revenue from external customers in Hong Kong was HKD 29,393,000, an increase of 18.6% from HKD 24,760,000 in 2022[24] - Revenue from the United Arab Emirates rose significantly to HKD 20,221,000, compared to HKD 10,898,000 in the previous year, marking an 85.5% increase[24] - Revenue from furniture sales increased by approximately 17.6% to about HKD 35.0 million in Q1 2023, compared to approximately HKD 29.7 million in Q1 2022[36] - The company's project business revenue rose to HKD 11.0 million in Q1 2023, up from approximately HKD 3.9 million in Q1 2022[39] Expenses and Costs - The company incurred total employee costs of HKD 15,905,000, up from HKD 15,159,000 in the previous year, reflecting a 4.9% increase[27] - Depreciation of property, plant, and equipment was HKD 849,000, down from HKD 974,000 in the same period last year, indicating a 12.8% decrease[27] - The company's sales and distribution costs rose by approximately 17.2% to about HKD 12.2 million in Q1 2023, compared to approximately HKD 10.4 million in Q1 2022[42] - Management and other operating expenses decreased by approximately 6.3% to about HKD 19.8 million in Q1 2023, down from approximately HKD 21.1 million in Q1 2022[43] - The financial expenses for Q1 2023 included approximately HKD 295,000 in bank interest for loans, compared to HKD 2,000 in Q1 2022, and lease liability interest expenses of HKD 449,000, up from HKD 162,000 in the same period last year[44] Shareholder Information - The group’s total equity as of March 31, 2023, was approximately HKD 48.2 million, reflecting an increase from HKD 39.9 million as of January 1, 2023[11] - The total number of issued shares as of March 31, 2023, was 1,584,000,000[50] - As of March 31, 2023, major shareholders included John Warren MCLENNAN and Jennifer Carver, each holding 26.17% of the company's shares[50] - Double Lions Limited holds a significant stake of 414,500,000 shares, representing 26.17% of the total shares issued as of March 31, 2023[55] - Century Great Investments Limited owns 215,050,000 shares, accounting for 13.50% of the total shares[55] - Zhang Weiqiang holds 132,000,000 shares, which is 8.33% of the total shares[55] Dividend and Securities Transactions - The group did not recommend the payment of an interim dividend for the three months ended March 31, 2023[5] - The company did not report any inter-segment revenue for the three months ended March 31, 2023, and 2022[23] - The board of directors did not recommend any interim dividend for the three months ended March 31, 2023[59] - No securities were purchased, sold, or redeemed by the company or its subsidiaries during the three months ended March 31, 2023[61] Future Plans and Investments - The company anticipates completing a large residential property development furniture package project in mid-2023, with related revenue expected to be recognized in Q2 or Q3 2023[34] - As of March 31, 2023, the company had utilized approximately HKD 11.8 million of the net proceeds, with plans to expand retail stores in mainland China and the UAE, and enhance online store capabilities by the end of December 2023[48] - The company plans to open additional retail stores in mainland China and the UAE, with an expected completion date by the end of December 2023[48] - The company aims to enhance its information technology capabilities with an investment of approximately HKD 3.0 million, with HKD 1.79 million already utilized[48] - The company has a strategic focus on potential mergers and acquisitions, utilizing unutilized proceeds from the placement for these opportunities[49] Governance and Compliance - The board consists of three executive directors and three independent non-executive directors, ensuring a balanced governance structure[68] - The audit committee has been established and is composed of three independent non-executive directors, enhancing financial oversight[65] - The company has adopted a code of conduct for directors' securities transactions, confirming compliance with the GEM Listing Rules[63] - The company has not provided any financial assistance or guarantees to any entities or affiliates as of March 31, 2023[68]