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） 截至二零二三年三月三十一日止三個月期間之 未經審核第一季度綜合業績公告 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三月三十一日止三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一季度報告報告全文，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 二零二三年第一季度報告報告將於二零二三年五月十二日上載於聯交所網站 www.hkexnews.hk及本公司的網站www.pacificlegendgroup.com，而本公司之二零二 三年第一季度報告之印刷版本將於上載後之可行時間內盡快寄發予本公司登記股 東。 承董事會 ...

Financial Performance - For the year ended December 31, 2022, the group recorded revenue of approximately HKD 204.0 million, a decrease of about HKD 40.3 million or 16.5% compared to HKD 244.3 million for the year ended December 31, 2021[9]. - The group's loss (after tax) for the year was approximately HKD 47.9 million, including a non-current asset impairment loss of HKD 21.3 million, compared to a loss of approximately HKD 28.2 million for the previous year[9]. - The group's revenue for the year ended December 31, 2022, was approximately HKD 204.0 million, a decrease of about HKD 40.3 million or 16.5% compared to HKD 244.3 million for the previous year[18]. - Furniture sales revenue for the year was HKD 148.2 million, down approximately 10.5% from HKD 165.6 million in the previous year, with retail sales in Hong Kong declining by about 19.1%[19]. - Online business performance decreased by 29.0% compared to the previous year, significantly impacted by the closure of two retail stores in Shanghai[21]. - The group's gross profit decreased by approximately HKD 24.7 million or 18.8% to about HKD 106.4 million, with a slight decline in overall gross profit margin from 53.7% to 52.2%[24]. - The group incurred a loss of approximately HKD 47.9 million for the year, an increase from a loss of HKD 28.2 million in the previous year, primarily due to decreased revenue and increased impairment losses[32]. Dividend and Shareholder Information - The company decided not to recommend the payment of a final dividend for the year ended December 31, 2022[9]. - The company reported a reserve available for distribution to shareholders of HKD 15,039,000 as of December 31, 2022, down from HKD 41,907,000 in 2021[73]. - The board does not recommend the payment of a final dividend for the year[64]. - The company has no predetermined dividend payout ratio, and past dividend distribution records do not serve as a reference for future dividends[166]. Business Development and Strategy - The company successfully launched a large number of furniture combinations for a leading property developer in Hong Kong, expected to be delivered in mid-2023[12]. - The company expanded its online business to a B2B model through the launch of the Indigo Trade website, offering exclusive products to wholesale customers[12]. - The company plans to explore and invest in products targeting local customers due to recent changes in Hong Kong's population structure[14]. - The company is seeking opportunities for new retail store openings and corporate sales in Dubai and Shanghai[14]. - The company anticipates potential growth in demand for interior design and renovation project management services in the coming years[14]. - The company closed its only store in Shanghai but retained its project and distribution business in China, awaiting opportunities for reopening after the economic recovery[12]. Financial Position and Capital Management - As of December 31, 2022, the group's trade and other receivables amounted to HKD 48.6 million, a decrease from HKD 54.9 million in 2021, with trade receivables increasing to HKD 16.4 million from HKD 14.5 million due to new sales from the Dubai project[33]. - The group's cash and cash equivalents were approximately HKD 17.8 million as of December 31, 2022, down from HKD 33.4 million in 2021, with total interest-bearing bank borrowings rising to HKD 7.7 million from HKD 0.9 million[35]. - The debt-to-equity ratio increased to 19.2% as of December 31, 2022, compared to 1.0% in 2021, primarily due to a new bank loan of approximately HKD 5.7 million and a significant loss affecting total equity[36]. - Trade payables decreased to HKD 17.6 million as of December 31, 2022, from HKD 19.8 million in 2021, reflecting a reduction in procurement volume[35]. - The net proceeds from the IPO amounted to approximately HKD 48.5 million, with HKD 24.8 million utilized by December 31, 2021, leaving HKD 23.7 million unutilized[43]. - The company plans to expand its retail network in mainland China and the UAE, allocating approximately HKD 12.3 million for this purpose, with an expected completion date by the end of December 2023[46]. Employee and Management Information - As of December 31, 2022, the group employed 159 individuals, a decrease from 168 in the previous year[49]. - Total employee costs for the year were approximately HKD 62.2 million, down from HKD 68.3 million in the prior year[49]. - The group regularly reviews compensation packages to ensure competitiveness in the market and to attract high-quality employees[49]. - The group contributes a certain percentage of employees' relevant income to the Mandatory Provident Fund (MPF) scheme as per local regulations[50]. - The group is obligated to make specified contributions to the national retirement benefit plans for employees in mainland China[50]. Corporate Governance - The board of directors consists of eleven members, including both executive and independent non-executive directors[128][129]. - The company has confirmed that at least 25% of its issued shares are held by the public, meeting GEM listing rules[119]. - All independent non-executive directors have confirmed their independence according to GEM listing rules[114][130]. - The company has adopted a set of trading rules for directors that comply with GEM listing standards[127]. - The board of directors has established various committees to oversee different responsibilities, ensuring effective management and strategic direction[132]. - The company has implemented a nomination policy to ensure a diverse board in terms of skills, experience, and perspectives[139]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report covers performance in environmental protection, social engagement, and sustainable development for the year 2022[169]. - The ESG report complies with GEM listing rules and follows international standards for key performance indicators[170]. - The company commits to the accuracy and completeness of the information disclosed in the ESG report[171]. - The company has integrated sustainability into its environmental, social, and governance (ESG) strategy and daily operations, emphasizing the importance of prudent management of environmental and social issues for long-term success[175]. - The company has identified key ESG issues impacting its sustainability, including greenhouse gas emissions, waste management, and energy consumption, and has prioritized these issues based on their significance to the business and stakeholders[180][182]. Risk Management - The company faced significant risks and uncertainties, detailed in the financial statements[66]. - The company confirmed that there are no significant uncertainties affecting its ability to continue as a going concern[153]. - The company is committed to maintaining effective risk management and internal control systems, which were deemed sufficient for the year[155].

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） 截至二零二二年十二月三十一日止年度之 經審核年度綜合業績公告 Pacific Legend Group Limited（「本公司」）董事會（「董事會」）欣然宣佈本公司及 其附屬公司截至二零二二年十二月三十一日止之經審核年度業績。本公告列載 本公司二零二二年年報全文，乃符合聯交所GEM證券上市規則（「GEM上市規 則」）中有關年度業績初步公告附載的資料之相關規定。本公司二零二二年年報 將於二零二三年三月三十日上載於聯交所網站www.hkexnews.hk及本公司的網 站www.pacificlegendgroup.com，而本公司之二零二二年之年報告印刷版本將於 上載後之可行時間內盡快寄發予本公司登記股東。 承董事會命 Pacific Legend Group Limit ...

Financial Performance - For the nine months ended September 30, 2022, the group recorded unaudited revenue of approximately HKD 143.0 million, a decrease of about HKD 27.7 million or 16.3% compared to HKD 170.7 million for the same period in 2021[4] - The unaudited loss (after tax) for the nine months ended September 30, 2022, was approximately HKD 17.7 million, compared to a loss of HKD 17.2 million for the same period in 2021[4] - Basic and diluted loss per share for the nine months ended September 30, 2022, was HKD 1.34, compared to HKD 1.45 for the same period in 2021[4] - The group reported a gross profit of HKD 77.8 million for the nine months ended September 30, 2022, down from HKD 93.2 million in the same period of 2021, reflecting a decrease of approximately 16.5%[6] - Operating loss for the nine months ended September 30, 2022, was HKD 17.0 million, compared to an operating loss of HKD 16.6 million for the same period in 2021[6] - Total comprehensive loss for the nine months ended September 30, 2022, was HKD 15.5 million, compared to a total comprehensive loss of HKD 17.0 million for the same period in 2021[6] - The group reported other income and gains of HKD 5.9 million for the nine months ended September 30, 2022, compared to HKD 4.8 million for the same period in 2021, representing an increase of approximately 21.5%[6] - The company reported a pre-tax loss of HKD 17,704 for the nine months ended September 30, 2022, compared to a loss of HKD 17,181 for the same period in 2021[32] Revenue Breakdown - For the three months ended September 30, 2022, total revenue was HKD 60,734, with furniture and home accessories sales contributing HKD 37,104, rental income HKD 7,288, and hotel services HKD 16,342[18] - For the nine months ended September 30, 2022, total revenue reached HKD 142,963, with furniture and home accessories sales at HKD 102,699, rental income HKD 16,621, and hotel services HKD 23,643[20] - The gross profit for the three months ended September 30, 2022, was HKD 28,282, with contributions from furniture and home accessories sales at HKD 18,618, rental income HKD 5,676, and hotel services HKD 3,988[18] - The gross profit for the nine months ended September 30, 2022, was HKD 74,162, with furniture and home accessories sales contributing HKD 53,558, rental income HKD 13,116, and hotel services HKD 7,488[20] - Revenue from Hong Kong for the three months ended September 30, 2022, was HKD 35,442 thousand, down 15.5% from HKD 41,727 thousand in 2021[27] - Revenue from the United Arab Emirates for the three months ended September 30, 2022, was HKD 22,638 thousand, slightly down from HKD 22,665 thousand in 2021[27] - Revenue from mainland China (excluding Hong Kong and Macau) for the three months ended September 30, 2022, was HKD 2,654 thousand, a significant decrease of 73.1% from HKD 9,879 thousand in 2021[27] Dividends and Shareholder Information - The board did not recommend the payment of an interim dividend for the nine months ended September 30, 2022[4] - The company did not declare any dividends for the nine months ended September 30, 2022, consistent with the same period in 2021[33] - As of September 30, 2022, John Warren MCLENNAN holds 414,500,000 shares, representing 31.40% of the total issued shares of 1,320,000,000[51] - Double Lions Limited, a major shareholder, also holds 414,500,000 shares, equating to 31.40% of the total issued shares[55] - Major shareholders include Tracy-Ann FITZPATRICK, David Frances BULBECK, and Alison Siobhan BAILEY, each holding 31.40% through various arrangements[55] - The shareholding structure indicates a significant concentration of ownership among a few key individuals and entities[54] Business Operations and Strategy - The company is primarily engaged in the sale and rental of furniture and home accessories, as well as providing design consultancy services related to interior furniture arrangements[9] - The company opened a new store in Dubai Hills Mall in September 2022, contributing to ongoing growth in the UAE market[35] - The company plans to focus on developing products and services in Hong Kong and Dubai, including enhancing B2C design services and expanding project markets in Hong Kong and the Middle East[35] - Cost-cutting measures have been effective in offsetting the impact of reduced revenue on performance, resulting in a loss for the third quarter of 2022 similar to that of 2021[35] - The company launched the Indigo Trade website to expand its online business to B2B customers, offering exclusive products different from retail channels[34] - The group plans to expand its retail network in China and the UAE, with an estimated allocation of approximately HKD 18.7 million for this purpose[49] Stock Options and Governance - The company has adopted a share option scheme allowing the issuance of up to 100,000,000 shares, which is capped at 30% of the company's issued share capital[60] - The share option plan is designed to reward eligible participants for their contributions to the group[60] - The company has established a consistent governance framework, as evidenced by the detailed disclosures regarding shareholdings and options[53] - The total number of shares held by major shareholders reflects a strong alignment of interests among the leadership and the company's performance[54] - The board of directors consists of four executive directors, one non-executive director, and five independent non-executive directors[72] - The company has adopted a code of conduct for directors' securities transactions, which complies with GEM Listing Rules[68] - The company believes that having the same individual serve as both chairman and CEO enhances operational efficiency and business strategy execution[72] Market Challenges - Retail sales revenue in Hong Kong dropped by approximately 18.8% in Q3 2022 compared to Q3 2021, impacted by increased COVID-19 cases and intense price competition[38] - The online business and franchise operations saw declines of approximately 21.2% and 2.2%, respectively, compared to Q3 2021, largely due to store closures in Shanghai[39] Stock Option Valuation - The estimated fair value of the stock options granted is between HKD 0.119 and HKD 0.137, with an exercise price of HKD 0.22[65] - The expected volatility used in the binomial model for valuing stock options is 51.10%[65] - The risk-free interest rate, based on Hong Kong Exchange Fund Bills, is 2.15%[65] - The stock option plan was adopted on June 19, 2018, and is valid for ten years[62] - As of September 30, 2022, a total of 35,450,000 stock options have expired, with no stock options issued or cancelled during the nine-month period[62]

Financial Performance - For the six months ended June 30, 2022, the group recorded unaudited revenue of approximately HKD 82.2 million, a decrease of about HKD 14.3 million or 14.8% compared to HKD 96.5 million for the same period in 2021[5] - The unaudited loss (after tax) for the six months ended June 30, 2022, was approximately HKD 13.4 million, compared to a loss of HKD 22.7 million for the same period in 2021[5] - Basic and diluted loss per share for the six months ended June 30, 2022, was HKD 1.01, compared to HKD 1.95 for the same period in 2021[5] - The group reported a gross profit of HKD 48.3 million for the six months ended June 30, 2022, down from HKD 53.7 million in the same period of 2021, reflecting a gross margin decrease[7] - The company reported a total comprehensive loss of HKD (12,439) thousand for the six months ended June 30, 2022, compared to a loss of HKD (22,502) thousand for the same period in 2021[10] - The loss attributable to equity shareholders for the first half of 2022 was approximately HKD 13.4 million, down from a loss of approximately HKD 22.7 million in the same period of 2021[70] Revenue Breakdown - Total revenue for the three months ended June 30, 2022, was HKD 43,626 thousand, with furniture and home accessories sales contributing HKD 35,855 thousand[21] - Revenue from furniture and home decor sales was HKD 65,595,000 for the six months ended June 30, 2022, compared to HKD 77,558,000 for the same period in 2021, reflecting a decrease of about 15.4%[27] - Revenue from hotel services for the six months ended June 30, 2022, was HKD 7,301,000, down from HKD 11,424,000 in the same period of 2021, a decrease of approximately 36.5%[27] - Revenue from external customers in Hong Kong for the six months ended June 30, 2022, was HKD 52,546,000, down from HKD 60,834,000 in 2021, a decrease of approximately 13.5%[29] - Revenue from the United Arab Emirates for the six months ended June 30, 2022, was HKD 24,754,000, an increase from HKD 22,221,000 in 2021, reflecting a growth of approximately 11.4%[29] Assets and Liabilities - Total assets as of June 30, 2022, were HKD 121.5 million, a decrease from HKD 133.3 million as of December 31, 2021[8] - The net asset value of the group as of June 30, 2022, was HKD 76.3 million, down from HKD 88.7 million as of December 31, 2021[8] - The company’s total liabilities as of June 30, 2022, were HKD 19,898,000, slightly up from HKD 19,811,000 as of December 31, 2021[46] - The total bank borrowings as of June 30, 2022, were approximately HKD 6.4 million, an increase from HKD 0.9 million as of December 31, 2021[79] - The debt-to-equity ratio as of June 30, 2022, was 8.4%, up from 1.0% as of December 31, 2021, reflecting the increase in bank borrowings[81] Cash Flow and Investments - The group’s cash and cash equivalents decreased to HKD 14.7 million as of June 30, 2022, from HKD 33.4 million as of December 31, 2021[8] - The net cash used in investing activities for the six months ended June 30, 2022, was HKD (4,886) thousand, compared to HKD (452) thousand in the same period of 2021[11] - The company has invested HKD 6 million in non-listed funds and HKD 4 million in a non-refundable deposit for a proposed joint venture as of June 30, 2022[85] Operational Efficiency - The group’s operating loss for the six months ended June 30, 2022, was HKD 13.0 million, an improvement from HKD 22.2 million in the same period of 2021[7] - Management and other operating expenses significantly decreased from approximately HKD 57.2 million in the first half of 2021 to approximately HKD 42.9 million in the first half of 2022, a reduction of about 25.0%[68] - Sales and distribution costs decreased from approximately HKD 22.8 million in the first half of 2021 to approximately HKD 22.2 million in the first half of 2022, a reduction of about 2.7%[67] Shareholder Information - John Warren MCLENNAN and Jennifer Carver each hold 414,500,000 shares, representing 31.40% of the company[90] - Major shareholders include Double Lions Limited, which holds 31.40% of the issued ordinary shares[97] - The total number of issued shares as of June 30, 2022, was 1,320,000,000[91] Employee and Management - The total number of employees was 150, down from 168 as of December 31, 2021[88] - Total employee costs for the first half of 2022 were approximately HKD 32.1 million, compared to HKD 39.3 million in the same period of 2021, representing a decrease of about 18.3%[88] - The total compensation for key management personnel for the six months ended June 30, 2022, was HKD 3,198,000, down from HKD 8,828,000 in the same period of 2021[53] Corporate Governance - The audit committee, consisting of three independent non-executive directors, reviewed the financial information in this report[113] - The company has adopted a code of conduct for directors regarding securities trading, which complies with GEM listing rules[111] - The board currently consists of four executive directors, one non-executive director, and five independent non-executive directors, ensuring an appropriate balance of power and oversight[115]

Financial Performance - For the three months ended March 31, 2022, the group recorded unaudited revenue of approximately HKD 38.6 million, a decrease of about HKD 8.2 million or 17.5% compared to HKD 46.8 million for the same period in 2021[4] - The unaudited loss for the three months ended March 31, 2022, was approximately HKD 8.8 million, compared to a loss of HKD 9.1 million for the same period in 2021[4] - Basic and diluted loss per share for the three months ended March 31, 2022, was HKD 0.67, compared to HKD 0.81 for the same period in 2021[4] - Gross profit for the three months ended March 31, 2022, was HKD 21.1 million, down from HKD 26.3 million in the same period of 2021, reflecting a decrease of approximately 19.8%[6] - Operating loss for the three months ended March 31, 2022, was HKD 8.7 million, slightly improved from HKD 8.8 million in the same period of 2021[6] - Total comprehensive loss for the three months ended March 31, 2022, was HKD 8.8 million, compared to HKD 8.9 million for the same period in 2021[6] - The group reported a pre-tax loss of HKD 8,822,000 for the three months ended March 31, 2022, compared to a pre-tax loss of HKD 9,073,000 for the same period in 2021[23] - The loss attributable to equity shareholders for the quarter was approximately HKD 8.8 million, a decrease from a loss of about HKD 9.1 million in Q1 2021, mainly due to savings in sales and distribution costs[43] Revenue Breakdown - Total revenue for the three months ended March 31, 2022, was HKD 38,603,000, a decrease of 17.4% compared to HKD 46,780,000 for the same period in 2021[20] - Revenue from furniture and home accessories sales was HKD 29,740,000, down 25.8% from HKD 40,086,000 in the previous year[17][19] - Revenue from project and hotel services was HKD 3,852,000, compared to HKD 2,815,000 in the previous year, reflecting an increase of 36.8%[17][19] - Revenue from furniture and home accessories leasing was HKD 5,011,000, a decrease from HKD 3,879,000 in the previous year[17][19] - Revenue from external customers in Hong Kong was HKD 24,760,000, down 13.8% from HKD 28,723,000 in 2021[20] - The company's online business revenue fell by 23.3% compared to the same period in 2021, primarily due to the reduction in the scale of the rental business in Shanghai[36] - The furniture rental business revenue increased by approximately 29.2% from about HKD 3.9 million in the first quarter of 2021 to about HKD 5.0 million in the first quarter of 2022[36] Expenses and Cost Management - The group’s total operating expenses for the three months ended March 31, 2022, were HKD 27,527,000, compared to HKD 31,293,000 in the same period of 2021[23] - Management and other operating expenses decreased by approximately 20.6% from about HKD 26.6 million in Q1 2021 to about HKD 21.1 million in Q1 2022, primarily due to reduced legal and professional fees and lower employee costs following a mid-2021 restructuring[41] - Financial expenses included a net present value of lease payments for property leases amounting to approximately HKD 162,000, down from HKD 229,000 in Q1 2021[42] Equity and Shareholder Information - As of March 31, 2022, the total equity attributable to owners of the company was HKD 75.9 million[9] - As of March 31, 2022, John Warren MCLENNAN and Jennifer Carver MCLENNAN collectively hold 31.40% of the company's shares, amounting to 414,500,000 shares[47] - The total number of shares issued as of March 31, 2022, was 1,320,000,000, excluding any shares that may be issued upon the exercise of options under the company's share option scheme[47] - Double Lions Limited holds a total of 414,500,000 shares, representing 31.40% of the total shares outstanding[51] - The company has a stock option plan with a maximum issuance limit of 100,000,000 shares, which is 30% of the total issued share capital[55] - As of March 31, 2022, there are 24,640,000 stock options that remain unexercised[57] Corporate Governance - The company has established an audit committee consisting of three independent non-executive directors, ensuring proper oversight of financial reporting[65] - The board of directors includes four executive directors, one non-executive director, and five independent non-executive directors, maintaining a balanced governance structure[67] - The company has confirmed no direct or indirect interests in competing businesses among its directors and controlling shareholders[64] - The company has complied with the corporate governance code as per GEM Listing Rules, despite a deviation regarding the dual role of the chairman and CEO[67] - The chairman and CEO, John Warren McLennan, holds both positions to enhance operational efficiency and business strategy execution[67] Future Plans and Utilization of Proceeds - The company plans to focus on product and service development in various regions, including expanding B2C design services and project markets in Hong Kong and the Middle East[31] - The company plans to expand its retail network in mainland China and the UAE, utilizing approximately HKD 18.7 million of the net proceeds, with an expected completion by the end of December 2023[46] - An additional HKD 6.55 million is allocated to enhance the company's online store and IT capabilities, with a completion target by the end of December 2023[46] - The company has earmarked approximately HKD 5.54 million for hiring new employees to support retail expansion in mainland China and the UAE, with an expected completion by the end of December 2023[46] - The company has not fully utilized the net proceeds from the listing due to the fluctuating business environment caused by the COVID-19 pandemic[45]

Financial Performance - For the fiscal year ended December 31, 2021, the group recorded revenue of approximately HKD 244.3 million, an increase of approximately HKD 24.4 million or 11.1% compared to HKD 219.9 million for the fiscal year ended December 31, 2020[10]. - The group reported a loss (after tax) of approximately HKD 28.2 million for the fiscal year ended December 31, 2021, which included an impairment loss of non-current assets of HKD 17.1 million, compared to a loss of approximately HKD 43.8 million for the previous year[10]. - Overall gross profit decreased by approximately HKD 5.8 million or 4.3% to about HKD 130.3 million, with the overall gross margin dropping from 61.9% to 53.3%[23]. - Other income and gains fell significantly from approximately HKD 15.2 million to about HKD 7.6 million, mainly due to a one-time government subsidy received in the previous year[24]. - Selling and distribution costs decreased by approximately 20.1% to about HKD 44.7 million, primarily due to reduced employee costs and advertising expenses[25]. - Management and other operating expenses decreased by approximately 12.6% to about HKD 103.6 million, mainly due to reduced depreciation of certain non-current assets[26]. - The company's loss attributable to equity shareholders for the year was approximately HKD 28.2 million, a decrease from a loss of HKD 43.8 million in the previous year, primarily due to cost savings totaling HKD 27.0 million and a reduction in non-current asset impairment losses by HKD 2.0 million[30]. Market Outlook - The company anticipates challenges in the Hong Kong market for the next fiscal year due to uncertainties related to the COVID-19 pandemic and the global economic and political environment[14]. - The company expects revenue from markets outside of Hong Kong to continue improving as restrictions related to COVID-19 are eased globally[14]. - The company plans to continue developing products and services in various regions, including increasing in-store and online B2C design services, to stand out in the market[14]. Business Segments - The group operates primarily in three business segments: furniture and home decor sales, furniture leasing, and project and hotel services[16]. - The company experienced significant improvement in corporate sales and project engineering, particularly in the United Arab Emirates, during the second half of the fiscal year[13]. - Furniture sales revenue slightly decreased from approximately HKD 167.4 million to HKD 165.6 million year-on-year, with retail sales in Hong Kong dropping by about 7.9%[18]. - Retail revenue from two stores in Dubai increased by 13.7% year-on-year, attributed to ongoing inventory optimization[18]. - The company's franchise business in Saudi Arabia recorded a sales revenue growth of 19.9%, reflecting increased demand for Indigo products[21]. - Corporate sales in Hong Kong saw a significant decrease of 25.5%, while corporate sales in the UAE improved by 66.0%[21]. - Project engineering business revenue surged by approximately 88.9% from about HKD 31.8 million to approximately HKD 60.1 million[22]. Cost Management - The company has implemented cost reduction measures in the Hong Kong market to simplify operations and align with strategic development plans[14]. - The total employee cost was approximately HKD 68.3 million, a decrease from HKD 74.7 million in the previous year, with the number of employees reduced from 196 to 168[50]. Shareholder Information - The board of directors did not recommend the distribution of a final dividend for the fiscal year ended December 31, 2021[10]. - The company reported a reserve available for distribution to shareholders of HKD 44,921,000 as of December 31, 2021, compared to HKD 36,080,000 in 2020, representing an increase of approximately 24.9%[75]. - The company did not recommend the payment of a final dividend for the year[67]. Governance and Compliance - The company has established a consistent action agreement among its major shareholders regarding their holdings in Double Lions Limited[92]. - The company has received annual confirmations from its controlling shareholders regarding compliance with non-competition commitments[97]. - The company has confirmed compliance with GEM Listing Rules regarding related party transactions and has received an exemption from strict adherence to certain disclosure requirements[106][107]. - The company has maintained compliance with all corporate governance codes during the reporting period[124]. - The board consists of ten members, including four executive directors and six non-executive directors[126][127]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report covers performance in environmental protection, social engagement, stakeholder participation, and sustainable development for the year 2021[165]. - The company is committed to integrating sustainability into its ESG strategy and daily operations, addressing climate change impacts[171]. - Total greenhouse gas emissions for the year ended December 31, 2021, were 466.00 tons CO2 equivalent, a decrease from 563.67 tons in 2020, representing a reduction of approximately 17.3%[187][188]. - The company generated 1.71 tons of non-hazardous waste from discarded furniture in 2021, significantly down from 112.22 tons in 2020, indicating a reduction of approximately 98.5%[194]. - The company advocates for a green and sustainable work environment, adhering to the "Four Rs" principle (Reduce, Reuse, Recycle, Replace) to minimize waste generation[195]. Future Plans - The company plans to expand its retail network in mainland China and the UAE, with an expected expenditure of HKD 28.4 million, of which HKD 6.4 million has been utilized[42]. - The company aims to enhance its online store and IT capabilities with an investment of HKD 3.9 million, of which HKD 3.6 million has been utilized[42].

香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM乃為較其他於聯交所上市的公司帶有較高投資風險的中小型公司提供上市之市場。有意投資者應了解 投資於該等公司的潛在風險，並應經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的證券承受較大的市場波 動風險，同時亦無法保證在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， 並明確表示概不會就因本報告全部或任何部分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。 本報告原文乃以英文編製，其後翻譯成中文。中英文版本如有任何歧義，概以英文版為準。本報告已於本公 司網站www.pacificlegendgroup.com登載。 目錄 | 財務摘要 | 3 | | --- | --- | | 簡明綜合損益及其他全面收益表 | 4 | | 簡明綜合權益變動表 | 5 | | 簡明綜合財務報表附註 | 6 | | 管理層討論與分析 | 12 | | 企業管治與其他資料 | 18 | 3 2021 第三季度業績報告 財務摘要 • ...

Financial Performance - For the six months ended June 30, 2021, the group recorded unaudited revenue of approximately HKD 96.5 million, a decrease of about HKD 0.5 million or 0.6% compared to HKD 97.0 million for the same period in 2020[4] - The unaudited loss (after tax) for the six months ended June 30, 2021, was approximately HKD 22.7 million, compared to a loss of HKD 24.2 million for the same period in 2020[4] - Basic and diluted loss per share for the six months ended June 30, 2021, was HKD 1.95, compared to HKD 2.42 for the same period in 2020[4] - The group reported a gross profit of HKD 53.67 million for the six months ended June 30, 2021, down from HKD 58.52 million for the same period in 2020, representing a decrease of approximately 8.5%[6] - The group’s operating loss for the six months ended June 30, 2021, was HKD 22.21 million, compared to an operating loss of HKD 23.42 million for the same period in 2020[6] - The company experienced a pre-tax loss of HKD 22,659,000 for the six months ended June 30, 2021, compared to a loss of HKD 24,150,000 in the same period of 2020[19] - For the six months ended June 30, 2021, the company reported a pre-tax loss of HKD 22,659,000, compared to a loss of HKD 24,186,000 for the same period in 2020, representing a decrease of 6.3%[29] - Loss attributable to equity shareholders narrowed to HKD 22.7 million in the first half of 2021 from HKD 24.2 million in the same period of 2020[57] Revenue Breakdown - Total revenue for the six months ended June 30, 2021, was HKD 96,446,000, a slight decrease of 0.6% from HKD 96,982,000 in the same period of 2020[19] - Revenue from furniture and home accessories sales for the six months ended June 30, 2021, increased by 8.3% to HKD 77,558,000 from HKD 71,684,000 in 2020[19] - Revenue from project and hotel services for the six months ended June 30, 2021, decreased by 28.8% to HKD 11,424,000 from HKD 16,005,000 in 2020[19] - The company reported a significant decrease in revenue from furniture and home accessories rental, which fell to HKD 7,464,000 for the six months ended June 30, 2021, down from HKD 9,293,000 in 2020[19] - Revenue from external customers in Hong Kong decreased to HKD 60,834,000 for the six months ended June 30, 2021, compared to HKD 75,533,000 in 2020, reflecting a decline of 19.5%[20] - Retail revenue in Dubai improved significantly by 40.8% compared to the same period in 2020, aided by the gradual easing of COVID-19 restrictions[49] - The company's online business declined by 20.8% in the first half of 2021 compared to the same period in 2020[51] - Revenue from furniture leasing decreased by 19.7% from approximately HKD 9.3 million in the first half of 2020 to approximately HKD 7.4 million in the first half of 2021[51] - Project engineering revenue fell by approximately 28.6% from HKD 16.0 million in the first half of 2020 to approximately HKD 11.4 million in the first half of 2021[51] Cash and Assets - Total assets less current liabilities as of June 30, 2021, amounted to HKD 89.95 million, down from HKD 102.02 million as of December 31, 2020[7] - The group's cash and cash equivalents decreased to HKD 46.42 million as of June 30, 2021, from HKD 64.49 million as of December 31, 2020[7] - The group’s total equity as of June 30, 2021, was HKD 77.94 million, a decrease from HKD 89.12 million as of December 31, 2020[7] - Cash and cash equivalents decreased to HKD 46,419,000 as of June 30, 2021, down from HKD 52,395,000 at the end of 2020[10] - Non-current assets as of June 30, 2021, totaled HKD 20,997,000, a decrease from HKD 23,540,000 as of December 31, 2020[21] - Trade receivables as of June 30, 2021, amounted to HKD 16,499,000, up from HKD 8,470,000 as of December 31, 2020, indicating a significant increase of 94.5%[34] - Trade and other receivables increased to HKD 42.4 million as of June 30, 2021, compared to HKD 36.3 million as of December 31, 2020[59] Employee and Operational Costs - Employee costs for the six months ended June 30, 2021, totaled HKD 39,300,000, an increase of 2.8% from HKD 38,245,000 in the same period of 2020[29] - The number of employees, including executive directors, decreased to 178 as of June 30, 2021, down from 196 as of December 31, 2020, indicating a reduction of approximately 9.2%[74] - Management and other operating expenses slightly decreased by about 1.5% to HKD 57.2 million in the first half of 2021 from HKD 58.1 million in the same period of 2020[55] - Sales and distribution costs decreased by approximately 18.3% to HKD 22.8 million in the first half of 2021 from HKD 27.9 million in the same period of 2020[54] Dividends and Shareholder Information - The board did not recommend the payment of an interim dividend for the six months ended June 30, 2021[4] - The company did not declare an interim dividend for the six months ended June 30, 2021, consistent with the previous year[30] - No interim dividend was recommended for the six months ended June 30, 2021, consistent with the previous year[89] - As of June 30, 2021, John Warren MCLENNAN and related parties held a total of 414,500,000 shares, representing 34.54% of the company[76] - Double Lions Limited holds 414,500,000 shares, representing 34.54% of the total shares outstanding[87] - As of June 30, 2021, the total number of issued shares was 1,200,000,000[87] Corporate Governance and Compliance - The audit committee consists of three independent non-executive directors, ensuring proper oversight of financial reporting[101] - The company has adhered to GEM listing rules and corporate governance codes, with no loans provided to any entities or affiliates[102] - The board believes that having the same individual serve as both chairman and CEO enhances operational efficiency and business strategy execution[102] - The board composition will include three executive directors, one non-executive director, and four independent non-executive directors after the resignation of the executive director and CEO[102] Future Outlook and Strategic Initiatives - The company plans to focus on supplier, product, and service development across regions to stand out in the market[46] - The company anticipates that changes made will gradually show results in the third quarter, maintaining an optimistic outlook for future business directions[46] - The new TRIBE BY INDIGO product line was successfully launched, targeting smaller residential units in Hong Kong[48] - The company closed a store in Yuen Long and is reviewing existing leases for other locations, exploring opportunities for pop-up stores[48] Stock Options and Securities - A total of 45,000,000 stock options were granted under the stock option plan, with 8,480,000 options lapsing during the six months ended June 30, 2021[93] - As of June 30, 2021, there were 26,970,000 stock options outstanding, of which 17,803,600 were exercisable[93] - The estimated fair value of the stock options ranged from HKD 0.119 to HKD 0.137[95] - The exercise price for the stock options is set at HKD 0.22[95] - The expected volatility used in the option pricing model was 51.10%[95] - The company did not purchase, sell, or redeem any of its securities during the six months ended June 30, 2021[97] - No rights were granted to directors or their family members to acquire shares or debentures of the company during the reporting period[96] - The company has adopted a code of conduct for directors regarding securities trading, confirming compliance with the trading standards as of June 30, 2021[98]

Financial Performance - For the three months ended March 31, 2021, the group recorded unaudited revenue of approximately HKD 46.8 million, an increase of approximately HKD 7.5 million or 19.0% compared to HKD 39.3 million for the same period in 2020[4] - The unaudited loss (after tax) for the three months ended March 31, 2021, was approximately HKD 9.1 million, a significant improvement from a loss of approximately HKD 18.6 million for the same period in 2020[4] - Basic and diluted loss per share for the three months ended March 31, 2021, was HKD 0.81, compared to HKD 1.86 for the same period in 2020[4] - The group reported a gross profit of HKD 26.3 million for the three months ended March 31, 2021, compared to HKD 24.1 million for the same period in 2020, reflecting a gross margin improvement[6] - The group’s operating loss for the three months ended March 31, 2021, was HKD 8.8 million, a decrease from an operating loss of HKD 18.2 million for the same period in 2020[6] - Total comprehensive loss attributable to equity shareholders for the three months ended March 31, 2021, was HKD 8.9 million, compared to HKD 18.6 million for the same period in 2020[6] - The company reported a pre-tax loss of HKD 9,073,000 for the three months ended March 31, 2021, compared to a pre-tax loss of HKD 18,524,000 for the same period in 2020, indicating a reduction in losses by approximately 51%[20] Revenue Breakdown - Revenue from furniture and home accessories sales was HKD 40,086,000, while rental income from furniture and home accessories was HKD 3,879,000, and project and hotel services contributed HKD 2,815,000[15] - The geographical revenue breakdown showed that revenue from Hong Kong was HKD 28,723,000, down from HKD 29,614,000 in 2020, while revenue from the UAE increased to HKD 11,655,000 from HKD 7,295,000, and revenue from China rose to HKD 6,402,000 from HKD 2,417,000[18] Expenses and Costs - The company incurred total operating expenses of HKD 38,057,000, which included sales and distribution costs of HKD 11,420,000 and management expenses of HKD 26,637,000[15] - Employee costs totaled HKD 18,862,000, slightly down from HKD 19,765,000 in the previous year, indicating a reduction of about 5%[20] - The company's sales and distribution costs decreased by approximately 21.4% to about HKD 11.4 million in Q1 2021 from about HKD 14.5 million in Q1 2020[38] - Management and other operating expenses decreased by approximately 6.0% to about HKD 26.6 million in Q1 2021 from about HKD 28.3 million in Q1 2020[39] Shareholder Information - The company issued 200,000,000 shares on February 4, 2021, raising approximately HKD 11.3 million for general working capital, aimed at enhancing financial stability and expanding the shareholder base[27] - As of March 31, 2021, the company had a total of 1,200,000,000 shares issued, excluding any shares that may be issued upon the exercise of options under the company's share option scheme[47] - Major shareholders include Double Lions Limited, holding 634,500,000 shares, which is 52.87% of the total shares[52] - The company’s major shareholders have entered into a concert party agreement, confirming their collective action regarding their shareholdings[54] Dividend Information - The board did not recommend the payment of an interim dividend for the three months ended March 31, 2021[4] - The company did not declare any interim dividend for the three months ended March 31, 2021, consistent with the previous year[26] Future Plans - The company plans to launch a new furniture brand, TRIBE, in Hong Kong in Q2 2021, targeting the growing compact living market segment[28] - The company plans to expand its retail network by opening new retail stores, utilizing approximately HKD 28,382,000, which accounts for 58.6% of the total funds raised[43] - The enhancement of online stores and improvement of IT capabilities will consume around HKD 3,893,000, representing 8.0% of the total funds raised[43] - The company has hired additional employees at a cost of HKD 5,545,000, which is 11.4% of the total funds raised[43] - The company has allocated HKD 5,056,000, or 10.4%, for increasing inventory[43] - General working capital has been allocated HKD 4,043,000, which is 8.4% of the total funds raised[43] Stock Options - A total of 45,000,000 stock options were granted under the stock option plan as of August 30, 2018[60] - As of March 31, 2021, 4,990,000 stock options lapsed, with no options exercised, issued, or canceled during the three months[60] - The total number of unexercised stock options as of March 31, 2021, is 30,460,000, of which 20,103,600 are exercisable[60] - The fair value of the stock options granted is estimated between HKD 0.119 and HKD 0.137[62] - The exercise price for the stock options is set at HKD 0.22[62] - The expected volatility used in the binomial model for option valuation is 51.10%[62] Corporate Governance - The company has established an audit committee consisting of three independent non-executive directors[68] - The company has complied with GEM Listing Rules regarding corporate governance and has not provided any loans to entities or affiliates[69] - No rights to acquire shares or debentures were granted to any directors or their associates during the three months ended March 31, 2021[63]