Financial Performance - The group's revenue for the year ended March 31, 2021, was approximately HKD 82.1 million, a decrease of about HKD 8.3 million or 9.2% compared to approximately HKD 90.4 million for the year ended March 31, 2020[9]. - The net loss for the year ended March 31, 2021, was approximately HKD 27.0 million, compared to a net loss of approximately HKD 31.9 million for the year ended March 31, 2020[9]. - Other income increased to approximately HKD 12.1 million for the year ended March 31, 2021, compared to HKD 1.9 million in the previous year, driven by government subsidies[22]. - Employee costs decreased to approximately HKD 41.0 million for the year ended March 31, 2021, from HKD 49.8 million in the previous year, due to reduced working days from temporary center closures[23]. - The total equity of the company as of March 31, 2021, was approximately HKD 11.9 million, down from HKD 38.9 million in the previous year[32]. - The company reported a distributable reserve of approximately HKD 20.2 million as of March 31, 2021, compared to HKD 16.5 million in 2020, reflecting an increase of about 22.4%[91]. - The company has incurred leasehold improvement expenses of approximately HKD 3.45 million as of March 31, 2021[49]. - As of March 31, 2021, the company had unsecured and secured bank borrowings of approximately HKD 17.6 million, compared to HKD 0.9 million in the previous year[52]. - The net proceeds from the share offering amounted to approximately HKD 31.6 million, lower than the estimated HKD 50.0 million disclosed in the prospectus[44]. Impact of COVID-19 - The COVID-19 pandemic has negatively impacted the company's revenue due to reduced customer willingness to undergo medical beauty treatments[13]. - The impact of COVID-19 on the company's financial performance remains uncertain and will be monitored closely[54]. - The impact of COVID-19 on the global business environment may further affect the group's financial performance, with the extent of this impact being currently unquantifiable[153]. Strategic Plans and Growth - The company remains optimistic about the industry outlook and aims for continued growth through brand image, strategic business expansion, and effective marketing activities[13]. - The company plans to enhance its competitive advantage by evaluating development opportunities and expanding the range of treatment services offered through the acquisition of new treatment equipment and consumables[13]. - The company opened a new flagship center in Mong Kok in May 2021 to expand its operational scale and enhance market penetration[17]. - The company plans to strategically expand its network of medical beauty centers and diversify its service offerings to strengthen its competitive advantage[17]. - The company established three new medical beauty centers, increasing employee count from 76 to 117 during the period[40]. - The total capital expenditure for setting up the three new centers was approximately HKD 20.1 million[45]. - The company purchased 16 laser treatment devices, 3 ultrasound treatment devices, and 4 radiofrequency treatment devices for the new centers[40]. Management and Governance - The company was founded in May 2008 by Mr. Ye and Ms. Fu, with Mr. Ye serving as the Executive Director and Chairman since June 2018[58]. - Ms. Fu, the CEO, has over 10 years of experience in the medical beauty service industry and was previously employed by Cathay Pacific Airways[62]. - The company has a strong management team with diverse backgrounds in marketing, operations, and finance, enhancing its operational capabilities[71]. - The board includes independent directors with extensive experience in law, finance, and corporate governance, ensuring robust oversight[63][69]. - The board consists of five directors, including two executive directors and three independent non-executive directors, ensuring a balanced governance structure[163]. - The audit committee is composed of three independent non-executive directors, responsible for reviewing financial statements and overseeing risk management and internal control systems[181]. - The company emphasizes high standards of corporate governance to protect shareholder interests and enhance corporate value[159]. - The company provides training for newly appointed directors to ensure they understand their responsibilities and the business operations[178]. Risk Management - The company has identified various risks that may adversely affect its financial condition and operational performance, including government policy risks related to the beauty services industry[78]. - The company operates entirely in Hong Kong, making its business performance sensitive to the local economic, social, and political conditions[82]. - The board is responsible for overseeing the risk management and internal control systems, which are reviewed at least annually by the audit committee[197]. - The group does not have an internal audit department but is reviewing the need for one due to its relatively simple corporate and operational structure[200]. Corporate Social Responsibility - The company made charitable donations of approximately HKD 29,000 during the year, compared to HKD 16,000 in 2020, representing an increase of about 81.3%[95]. - The company is committed to complying with applicable environmental laws and minimizing negative impacts on the environment from its operations[83]. - The board of directors is actively involved in community service and governance, contributing to the company's reputation and social responsibility[60].

Financial Performance - For the nine months ended December 31, 2020, the group's revenue was approximately HKD 58.8 million, a decrease of 20.7% compared to HKD 74.1 million for the same period in 2019[8]. - The group reported a net loss of approximately HKD 21.7 million for the nine months ended December 31, 2020, compared to a net loss of HKD 13.4 million for the same period in 2019, representing an increase in loss of 61.4%[8]. - The group's pre-tax loss was HKD 22.0 million, compared to HKD 13.2 million in the previous year, representing a deterioration of 66.5%[10]. - Total comprehensive loss for the period was HKD 21.7 million, compared to HKD 13.4 million in the previous year, indicating an increase of 61.4%[10]. - The basic loss per share for the period was HKD 2.72, compared to HKD 1.68 for the same period last year[10]. - The company recorded a pre-tax loss of HKD 31,061,000 for the nine months ended December 31, 2020, down from HKD 36,528,000 in the previous year[29]. - The company recorded a net loss of approximately HKD 21.7 million for the nine months ended December 31, 2020, compared to a net loss of HKD 13.4 million for the same period in 2019[41]. Revenue and Income - Revenue from treatment services for the nine months ended December 31, 2020, was HKD 56,527,000, a decrease of 20% compared to HKD 70,664,000 for the same period in 2019[25]. - Total revenue for the nine months ended December 31, 2020, was HKD 58,838,000, down 20.6% from HKD 74,110,000 in the previous year[25]. - Other income increased significantly to HKD 8.3 million from HKD 1.4 million, marking a growth of 487.2%[10]. - Government subsidies received during the nine months ended December 31, 2020, amounted to HKD 7,186,000, compared to zero in the same period of 2019[27]. - Other income increased to approximately HKD 8.3 million for the nine months ended December 31, 2020, from HKD 1.4 million in the same period in 2019, primarily due to government subsidies[46]. Costs and Expenses - The group's cost of goods sold was HKD 9.2 million, up from HKD 8.2 million in the same period last year, indicating a rise of 12.4%[10]. - Employee costs decreased to HKD 31.1 million from HKD 36.5 million, reflecting a reduction of 14.5%[10]. - The company’s total employee costs for the nine months ended December 31, 2020, were HKD 31,061,000, a decrease of 15.1% from HKD 36,528,000 in the previous year[29]. - Depreciation of property, plant, and equipment rose to HKD 8.9 million from HKD 6.0 million, an increase of 48.8%[10]. - The depreciation expense for property, plant, and equipment increased to approximately HKD 8.9 million for the nine months ended December 31, 2020, from HKD 6.0 million in the same period in 2019, due to new acquisitions[50]. - Rental and related expenses decreased to approximately HKD 1.0 million for the nine months ended December 31, 2020, from HKD 2.9 million in the same period in 2019, due to temporary closures and rent concessions related to COVID-19[49]. Dividend and Shareholder Information - The board of directors did not recommend any dividend distribution for the nine months ended December 31, 2020, consistent with the previous year[8]. - The company did not recommend any dividend distribution for the nine months ended December 31, 2020, consistent with the previous year[33]. - The major shareholders, Mr. Ye and Ms. Fu, each hold a 75% interest in the company through Equal Joy, which has 600,000,000 shares[65]. - The company has adopted a share option scheme to attract and reward eligible individuals for their contributions, which is valid for ten years unless terminated by shareholders[71]. - As of December 31, 2020, there were no outstanding share options or convertible securities issued under the share option scheme[73]. Operational Impact and Future Outlook - The company temporarily closed its medical beauty centers for a total of 94 days due to COVID-19, significantly impacting revenue[41]. - The company remains optimistic about the medical beauty service industry despite the challenges posed by COVID-19 and is committed to maximizing shareholder value[43]. - The company expanded its operations by opening new centers in Central, Causeway Bay 2, and Tsim Sha Tsui 2 to capture growing customer demand[41]. - The company plans to enhance its service offerings and expand its training programs for laser and light beauty treatments recognized by the Hong Kong Qualifications Framework[41]. Compliance and Governance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15 and has complied with all applicable provisions during the reporting period[56]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated results for the nine months ended December 31, 2020, and found them to comply with applicable accounting standards and legal requirements[59]. - No shares of the company were purchased, sold, or redeemed by the company or any of its subsidiaries during the nine months ended December 31, 2020[60]. - The company changed its compliance advisor from Chuangshing Financing Limited to Sky Capital Limited effective May 9, 2020, due to a consensus not being reached on fee levels[61]. - No arrangements were made for directors to acquire shares or debt securities of the company during the nine months ending December 31, 2020[74]. - No directors or their associates engaged in any business that directly or indirectly competes with the group's business during the nine months ending December 31, 2020[75]. - The executive directors as of the report date include Mr. Ye Zhen Guo and Ms. Fu Zhi Qing[76].

Financial Performance - For the six months ended September 30, 2020, the group's revenue was approximately HKD 35.3 million, a decrease of 34.5% compared to HKD 53.9 million for the same period in 2019[18]. - The group reported a net loss of approximately HKD 14.4 million for the six months ended September 30, 2020, compared to a net loss of HKD 4.3 million for the same period in 2019, representing an increase in loss of 235.3%[18]. - Revenue from treatment services for the six months ended September 30, 2020, was HKD 33,811,000, a decrease of 34.2% compared to HKD 51,302,000 in 2019[41]. - Sales of skincare products dropped to HKD 482,000, down 76.0% from HKD 2,004,000 in the previous year[41]. - The company recorded a total comprehensive loss of HKD 14,385,000 for the six months ended September 30, 2020[27]. - The company reported a loss before tax of HKD 14,385,000 for the six months ended September 30, 2020, compared to a loss of HKD 4,296,000 in 2019[52]. Dividends and Equity - The board of directors did not recommend the payment of dividends for the six months ended September 30, 2020, consistent with the previous year where no dividends were declared[18]. - The company's net asset value decreased to HKD 24,484,000 as of September 30, 2020, down from HKD 38,869,000 as of March 31, 2020, reflecting a decline of 37%[24]. - The total equity as of September 30, 2020, was HKD 24,484,000, a decrease of 37% compared to HKD 38,869,000 as of March 31, 2020[24]. - The company did not recommend any interim dividend for the six months ended September 30, 2020, consistent with the previous year[92]. Assets and Liabilities - Total assets less current liabilities amounted to HKD 74.0 million as of September 30, 2020, compared to HKD 72.6 million as of March 31, 2020[22]. - As of September 30, 2020, the company's non-current liabilities increased to HKD 49,543,000 from HKD 33,727,000 as of March 31, 2020, representing a 47% increase[24]. - The group’s total outstanding debt amounted to HKD 87.2 million as of September 30, 2020, an increase from approximately HKD 56.7 million as of March 31, 2020[87]. - The debt-to-equity ratio as of September 30, 2020, was 356.1%, significantly increased from 145.9% as of March 31, 2020[120]. Employee Costs and Operations - The group's employee costs decreased to HKD 18.4 million for the six months ended September 30, 2020, down from HKD 23.4 million in the same period of 2019, a reduction of 21.4%[20]. - The total employee costs for the six months ended September 30, 2020, were HKD 18,433,000, a decrease of 21.2% from HKD 23,426,000 in 2019[45]. - The number of employees increased from 76 to 117 during the period, reflecting the opening of three new medical beauty centers[106]. - The company temporarily closed its medical beauty centers for a total of 72 days due to COVID-19, significantly impacting revenue[73]. Cash Flow and Financial Resources - The net cash used in operating activities for the six months ended September 30, 2020, was HKD (7,212,000), compared to HKD (23,547,000) for the same period in 2019, showing an improvement of 69%[29]. - The company continues to believe it has sufficient financial resources to meet its obligations for the next twelve months[32]. - Cash and cash equivalents as of September 30, 2020, were HKD 4,609,000, down from HKD 10,005,000 as of September 30, 2019, indicating a decline of 54%[29]. Government Support and Other Income - Other income, including government subsidies, amounted to HKD 7,496,000, compared to HKD 775,000 in 2019, indicating a significant increase[44]. - Other income increased to approximately HKD 7.5 million from HKD 0.8 million, primarily due to government subsidies under the anti-epidemic fund[78]. Capital Expenditures and Investments - The total cost of property, plant, and equipment purchased during the six months was approximately HKD 3,356,000, a significant decrease from HKD 20,913,000 in 2019[54]. - Capital expenditures for the six months ended September 30, 2020, were approximately HKD 3.4 million, significantly lower than HKD 20.9 million for the same period in 2019[91]. - The company has no plans for significant investments or capital assets as of September 30, 2020[98]. Governance and Compliance - The company has maintained compliance with corporate governance codes and has established an audit committee to oversee financial reporting[128]. - The company has a strong governance structure with Mr. Ye serving as the Chairman and Executive Director[147]. Shareholding and Directors - As of September 30, 2020, Mr. Ye and Ms. Fu each hold 600,000,000 shares in Equal Joy, representing a 75% equity interest[135]. - Equal Joy is jointly owned by Mr. Ye and Ms. Fu, each holding a 50% beneficial interest in the total issued shares[136]. - No other directors or key executives have disclosed any interests or short positions in the company's shares or related securities as of September 30, 2020[138]. - No directors or their associates have engaged in any business that directly or indirectly competes with the group during the reporting period[146].

Financial Performance - For the three months ended June 30, 2020, the group's revenue was approximately HKD 18.8 million, a decrease of 34.8% compared to HKD 28.8 million for the same period in 2019[8]. - The group incurred a net loss of approximately HKD 4.8 million for the three months ended June 30, 2020, compared to a net profit of HKD 2.5 million for the same period in 2019[8]. - Total comprehensive loss for the period was HKD 4.8 million, compared to a total comprehensive income of HKD 2.5 million in the same period of 2019[10]. - Basic loss per share for the period was HKD (0.60), compared to earnings per share of HKD 0.31 for the same period in 2019[10]. - The group recorded a net loss of approximately HKD 4.8 million for the three months ended June 30, 2020, compared to a profit of approximately HKD 2.5 million for the same period in 2019[49]. Revenue and Income - Revenue for the three months ended June 30, 2020, was HKD 18,817,000, a decrease of 34.7% compared to HKD 28,788,000 for the same period in 2019[21]. - Revenue from treatment services was HKD 18,030,000, down 33.5% from HKD 26,964,000 in 2019[21]. - Other income increased significantly to HKD 4.0 million from HKD 0.35 million, marking an increase of 1,050% year-on-year[10]. - Other income for the three months ended June 30, 2020, was HKD 4,039,000, significantly up from HKD 352,000 in 2019[24]. - Other income increased to approximately HKD 4.0 million for the three months ended June 30, 2020, from HKD 0.4 million in the same period in 2019, primarily due to government subsidies under the anti-epidemic fund[42]. Expenses and Costs - Employee costs decreased to HKD 8.3 million from HKD 11.1 million, reflecting a reduction of 25.1% year-on-year[10]. - The total employee costs for the three months ended June 30, 2020, were HKD 8,339,000, down from HKD 11,119,000 in 2019, reflecting a reduction of 25.1%[24]. - Depreciation of property, plant, and equipment increased to HKD 2.9 million from HKD 1.9 million, representing a rise of 53.0% compared to the previous year[10]. - The depreciation expense for property, plant, and equipment increased to approximately HKD 2.9 million for the three months ended June 30, 2020, from HKD 1.9 million in the same period in 2019, due to new acquisitions[45]. - The group reported financing costs of HKD 0.474 million, a decrease from HKD 0.802 million in the previous year, indicating a reduction of 40.8%[10]. Dividends and Equity - The board of directors did not recommend the distribution of dividends for the three months ended June 30, 2020, consistent with the previous year[8]. - The group did not recommend any dividend distribution for the three months ended June 30, 2020[50]. - The group's total equity as of June 30, 2020, was HKD 34.08 million, down from HKD 70.73 million a year earlier[12]. Operational Developments - The group expanded its operations by opening new centers in Central, Causeway Bay 2, and Tsim Sha Tsui 2 to capture growing customer demand[36]. - The group plans to enhance its service offerings and increase the variety of treatments provided to strengthen its competitive advantage[36]. - The group will closely monitor market conditions and implement sustainable development strategies to overcome the current adverse environment caused by COVID-19[38]. - The impact of COVID-19 on the company's financial performance remains uncertain, with temporary closures of medical beauty centers since July 15, 2020[33]. Shareholder Information - The weighted average number of ordinary shares issued was 800,000 for both periods, with no potential ordinary shares issued[31]. - As of June 30, 2020, the company had no purchases, sales, or redemptions of its listed securities during the three months ended[57]. - The company replaced its compliance advisor from Chuangsheng Financing Limited to Qingtian Capital Limited effective May 9, 2020[58]. - Mr. Ye and Ms. Fu each hold 600,000,000 shares, representing a 75% equity interest in the company through their controlled entity, Equal Joy[60]. - Equal Joy is jointly owned by Mr. Ye and Ms. Fu, each holding a 50% beneficial interest[63]. - The company has not granted, exercised, or cancelled any share options under the share option scheme since its adoption[68]. - There are no outstanding share options, warrants, derivatives, or convertible securities as of June 30, 2020[68]. - The board of directors has not established any arrangements for directors to acquire shares or debt securities of the company[70]. - No directors or their associates have engaged in any business that competes directly or indirectly with the company[71]. - The executive directors as of the report date include Mr. Ye and Ms. Fu, with independent non-executive directors being Mr. Chan, Mr. Qiu, and Mr. Yu[72].

Financial Performance - The group's revenue for the year ended March 31, 2020, was approximately HKD 90.4 million, a decrease of about HKD 11.0 million or 10.9% compared to approximately HKD 101.4 million for the year ended March 31, 2019[11]. - The net loss for the year ended March 31, 2020, was approximately HKD 31.9 million, compared to a net loss of approximately HKD 0.2 million for the year ended March 31, 2019[11]. - The decline in revenue was primarily attributed to the economic difficulties caused by local social events and the global spread of COVID-19, which weakened customer willingness to undergo medical beauty treatments[14]. - The net loss for the year was approximately HKD 31.9 million, compared to a loss of HKD 0.2 million in the previous year, primarily due to decreased revenue and increased operating costs[33]. - The total equity of the group as of March 31, 2020, was approximately HKD 38.9 million, down from HKD 70.7 million in the previous year[36]. - The group reported a distributable reserve of approximately HKD 16.5 million as of March 31, 2020, down from HKD 45.6 million in 2019[98]. - Revenue from the top five customers accounted for less than 4.7% of total revenue for the year ended March 31, 2020, compared to 3.7% in 2019[100]. - The largest supplier accounted for approximately 16.3% of total purchases, down from 26.5% in 2019, while the top five suppliers collectively accounted for about 68.9% of total purchases, down from 74.4% in 2019[100]. Operational Strategy - Despite the challenges posed by the COVID-19 pandemic, the company remains optimistic about the industry's prospects and aims for continuous growth through strategic business expansion and effective marketing activities[14]. - The company plans to enhance its competitive advantage and consolidate its leading position in the industry by evaluating development opportunities and expanding the range of treatment services offered through the acquisition of new treatment equipment and consumables[14]. - The group plans to continue expanding its network of medical beauty centers to enhance market penetration and profitability[19]. - The company actively engaged in online marketing activities to enhance brand awareness during the reporting period[45]. Expenses and Costs - Employee costs for the year were approximately HKD 49.8 million, up from HKD 34.1 million in the previous year, attributed to an increase in staff numbers due to business expansion[25]. - Other expenses increased to approximately HKD 31.9 million from HKD 21.6 million, mainly due to increased promotional activities aimed at enhancing brand awareness[29]. - The group incurred capital expenditures of approximately HKD 32.1 million for the year, including the purchase of treatment equipment and renovations, compared to HKD 10.6 million in the previous year[37]. - Inventory and consumables costs were approximately HKD 10.6 million and HKD 10.0 million for the years ended March 31, 2020, and 2019, respectively, representing 11.7% and 9.8% of total revenue[24]. Governance and Management - The company has established a solid governance structure with various committees, including audit and remuneration committees[69]. - The board consists of five members, including two executive directors and three independent non-executive directors, ensuring a diverse range of experience and expertise[172]. - The board held six meetings during the year to discuss overall strategy and operational performance, reviewing quarterly, interim, and annual results[175]. - The company has adopted the corporate governance code as per GEM listing rules, maintaining high standards of governance to protect shareholder interests[168]. - The independent non-executive directors confirm their independence in accordance with GEM listing rules, contributing to balanced decision-making[179]. - The company emphasizes continuous professional development for directors to ensure they are well-informed and capable of fulfilling their responsibilities[189]. - The Audit Committee held four meetings during the year to review the group's interim, quarterly, and annual performance[195]. Risks and Challenges - The ongoing COVID-19 pandemic may impact the company's financial performance, with the extent of the impact being currently unquantifiable[59]. - The company’s financial performance and business outlook may be significantly affected by various risks and uncertainties, including government policy changes and economic conditions in Hong Kong[84][89]. - The company has identified major risks related to economic, social, or political conditions that could adversely affect its operations and financial performance[89]. Shareholder Information - The group has not proposed any dividends for the year ended March 31, 2020, consistent with the previous year[34]. - The board does not recommend the payment of a final dividend for the year ended March 31, 2020[94]. - The company has maintained a public float of at least 25% of its issued shares as of the report date[150]. - The company has no knowledge of any other individuals or entities holding interests in the company's shares that require disclosure under the Securities and Futures Ordinance[115]. Capital and Financing - The net proceeds from the share offering were approximately HKD 31.6 million, lower than the estimated HKD 50.0 million disclosed in the prospectus[49]. - As of March 31, 2020, the total actual use of proceeds amounted to HKD 31.1 million, with a remaining unutilized amount of HKD 480,000[50]. - The debt-to-equity ratio as of March 31, 2020, was 145.9%, a significant increase from 25.1% in 2019, primarily due to the adoption of HKFRS 16[51]. - As of March 31, 2020, the company had unsecured and secured bank borrowings of approximately HKD 0.9 million and HKD 13.5 million, respectively[57]. Community Engagement - The company has a strong focus on community service, recognized by the Hong Kong government with an honorary medal in 2009[65]. - The company is actively involved in the Greater China region's political and civil affairs, enhancing its community engagement[65]. - The company made charitable donations of approximately HKD 16,000 during the year, compared to HKD 25,000 in 2019[102].

Financial Performance - For the nine months ended December 31, 2019, the group's revenue was approximately HKD 74.1 million, compared to HKD 70.3 million for the same period in 2018, representing an increase of 3.8%[10] - The group incurred a net loss of approximately HKD 13.4 million for the nine months ended December 31, 2019, compared to a net loss of HKD 6.3 million for the same period in 2018, indicating a deterioration in performance[10] - The basic loss per share for the nine months ended December 31, 2019, was HKD 1.68, compared to HKD 0.96 for the same period in 2018, reflecting a significant increase in losses per share[13] - The total comprehensive loss for the period was HKD 13.4 million, compared to HKD 6.3 million for the same period in 2018, indicating a worsening financial position[13] - The company's revenue for the nine months ended December 31, 2019, was approximately HKD 74.1 million, an increase of about HKD 3.8 million or 5.4% compared to the same period in 2018[45] - The loss for the nine months ended December 31, 2019, was approximately HKD 13.4 million, compared to a loss of HKD 6.3 million in the same period in 2018[45] Cost and Expenses - The cost of inventories and consumables for the nine months ended December 31, 2019, was HKD 8.2 million, up from HKD 6.9 million in the same period of 2018, indicating rising costs[13] - Employee costs increased to HKD 36.5 million for the nine months ended December 31, 2019, compared to HKD 24.4 million in the same period of 2018, showing a rise of 49.5%[13] - The group reported a significant increase in rental and related expenses, which amounted to HKD 2.9 million for the nine months ended December 31, 2019, compared to HKD 8.0 million in the same period of 2018[13] - Other expenses for the nine months ended December 31, 2019, were approximately HKD 21.7 million, up from HKD 14.8 million in the same period in 2018, driven by increased promotional activities to enhance brand awareness and capture market share[56] - Depreciation expenses for property, plant, and equipment increased to approximately HKD 6.0 million for the nine months ended December 31, 2019, compared to HKD 4.2 million for the same period in 2018, mainly due to the acquisition of property, plant, and equipment[54] - The group recorded a right-of-use asset depreciation of approximately HKD 10.9 million for the nine months ended December 31, 2019, compared to zero for the same period in 2018, due to the adoption of HKFRS 16[55] Revenue Sources - Revenue from skincare product sales reached HKD 70,664 thousand for the nine months ended December 31, 2019, compared to HKD 66,752 thousand in the same period of 2018, representing an increase of approximately 2.8%[32] - Total revenue for the nine months ended December 31, 2019, was HKD 74,110 thousand, up from HKD 70,288 thousand in the previous year, indicating a growth of about 5.3%[32] - Prepaid treatment income for the nine months ended December 31, 2019, was HKD 784 thousand, down from HKD 1,102 thousand in the same period of 2018, reflecting a decrease of approximately 29%[32] Dividends and Equity - The board does not recommend the payment of any dividends for the nine months ended December 31, 2019, reflecting the company's focus on financial recovery[11] - The group's total equity as of December 31, 2019, was HKD 57.3 million, down from HKD 70.7 million as of April 1, 2019, indicating a decline in shareholder equity[15] - The company did not recommend any dividend for the nine months ended December 31, 2019, consistent with the same period in 2018[39] - The board did not recommend any dividend distribution for the nine months ended December 31, 2019, consistent with the same period in 2018[58] Corporate Governance and Compliance - The company has maintained compliance with the corporate governance code as per GEM Listing Rules, except for a temporary vacancy in the company secretary position[59] - The audit committee reviewed the unaudited consolidated results for the nine months ended December 31, 2019, and confirmed compliance with applicable accounting standards and GEM Listing Rules[62] Business Operations and Strategy - The company opened two new centers in Central and Causeway Bay in May and June 2019, respectively, to expand its operational scale[46] - The company plans to implement promotional activities to maintain market share in response to economic and business environment challenges[48] - The company believes that the medical beauty service industry outlook remains optimistic despite recent challenges, and it aims to leverage its strong customer base and reputation for steady business growth[48] Financial Reporting Standards - The financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards, specifically HKFRS 16 on leases, which was adopted during the reporting period[25] - The group has recognized lease liabilities based on the present value of lease payments, which include fixed payments and variable lease payments based on indices or rates[26] - The initial measurement of right-of-use assets is equivalent to the amount of lease liabilities recognized, adjusted for any lease payments made before the commencement date[29] - The financial statements are presented in Hong Kong dollars (HKD), which is also the functional currency of the company and its main subsidiaries[1] Shareholding Structure - The major shareholders, Mr. Ye and Ms. Fu, each hold a 75% interest in the company through a controlled corporation, Equal Joy, which has 600,000,000 shares[66] - Equal Joy holds 600,000,000 shares, representing 75% of the company's equity[69] Stock Options and Securities - The stock option plan was adopted for ten years to attract and reward qualified individuals contributing to the group[71] - No stock options, warrants, or convertible securities have been granted or exercised since the adoption of the stock option plan[71] - There are no arrangements allowing directors to acquire shares or debt securities for personal benefit[72] - No directors or their associates are engaged in any business that competes directly or indirectly with the group[74]

Financial Performance - For the six months ended September 30, 2019, the group's revenue was approximately HKD 53.9 million, an increase of about HKD 9.7 million or 21.9% compared to HKD 44.2 million for the same period in 2018[11]. - The group reported a net loss of approximately HKD 4.3 million for the six months ended September 30, 2019, an improvement from a net loss of HKD 7.4 million for the same period in 2018[11]. - Revenue from treatment services reached HKD 51,302,000, an increase of 21.3% compared to HKD 42,306,000 in the same period last year[73]. - Total revenue for the six months ended September 30, 2019, was HKD 53,891,000, compared to HKD 44,154,000 in the previous year, reflecting a growth of 22.5%[73]. - The company recorded a pre-tax loss of HKD 23,426,000 for the six months ended September 30, 2019, compared to HKD 16,213,000 in the same period last year, indicating an increase in operational costs[76]. - The basic loss per share attributable to the owners of the company for the six months ended September 30, 2019, was HKD 4,296,000 compared to HKD 7,361,000 for the same period in 2018[82]. Operational Costs - Employee costs increased to HKD 23.4 million from HKD 16.2 million, reflecting the rising operational costs associated with business expansion[14]. - The total employee costs, including salaries and benefits, increased to HKD 23,426,000 from HKD 16,213,000, reflecting a rise in operational expenses[76]. - The cost of inventories and consumables rose to HKD 5.4 million from HKD 3.7 million, indicating increased operational activity[14]. - The depreciation of property, plant, and equipment increased to HKD 4.0 million from HKD 2.8 million, reflecting higher asset utilization[14]. - The company recorded depreciation of right-of-use assets of approximately HKD 6.9 million for the six months ended September 30, 2019, due to the adoption of HKFRS 16[115]. Assets and Liabilities - Total assets less current liabilities amounted to HKD 98.5 million as of September 30, 2019, compared to HKD 73.4 million as of March 31, 2019[16]. - The group’s total liabilities increased to HKD 107.0 million from HKD 91.4 million, reflecting higher operational financing needs[16]. - The company’s current liabilities included deferred revenue of HKD 70,718,000, which is expected to be recognized as revenue in the future, indicating a strong pipeline of services[28]. - The company’s total equity as of September 30, 2019, was approximately HKD 66.4 million, down from approximately HKD 70.7 million as of March 31, 2019[119]. - The company’s capital and reserves decreased from HKD 70,727,000 to HKD 66,431,000, reflecting a reduction of approximately 6.8%[20]. Cash Flow and Liquidity - The group’s cash and cash equivalents decreased to HKD 43.7 million from HKD 64.4 million, indicating a reduction in liquidity[16]. - Cash and cash equivalents as of September 30, 2019, amounted to HKD 10,005,000, an increase from HKD 3,480,000 in the previous year, reflecting a growth of approximately 187.5%[22]. - The net cash used in operating activities for the six months ended September 30, 2019, was HKD 20,627,000, compared to HKD 10,950,000 in the previous year, indicating an increase in cash outflow[22]. - The company’s bank balance and cash as of September 30, 2019, were approximately HKD 43.7 million, down from approximately HKD 64.4 million as of March 31, 2019[119]. Business Expansion - The company opened two new centers in Central and Causeway Bay in May and June 2019 to expand its operational scale and enhance business growth[106]. - The company purchased four laser treatment devices and other equipment to enhance service offerings at the new centers[134]. - The number of employees increased from 84 to 127 during the reporting period, reflecting the company's expansion efforts[124]. Corporate Governance and Compliance - The group has committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[151]. - The audit committee reviewed the group’s unaudited consolidated results for the six months ended September 30, 2019, and found them compliant with applicable accounting standards[154]. - The group did not purchase, sell, or redeem any of its listed securities during the six months ended September 30, 2019[155]. Accounting Standards and Policies - The company adopted HKFRS 16 on April 1, 2019, which resulted in the recognition of lease liabilities amounting to HKD 29,710,000 as of September 30, 2019[18]. - The company adjusted its financial statements to comply with Hong Kong Financial Reporting Standard 16, impacting the classification of lease liabilities and right-of-use assets[68]. - The company recognized right-of-use assets related to operating leases amounting to HKD 32,306,000 as of April 1, 2019[62]. Shareholder Information - Equal Joy holds 600,000,000 shares, representing 75% of the equity after the share issuance[163]. - The stock option plan was adopted to attract and reward qualified individuals for their contributions to the group[166]. - There were no arrangements made for directors to acquire shares or debt securities of the company for personal benefit during the reporting period[168].

Financial Performance - For the three months ended June 30, 2019, the group's revenue was approximately HKD 28.8 million, an increase of 29.4% compared to HKD 22.2 million for the same period in 2018[10]. - The group generated a net profit of approximately HKD 2.5 million for the three months ended June 30, 2019, compared to a net loss of approximately HKD 5.4 million for the same period in 2018[10]. - The total comprehensive income for the period was HKD 2.5 million, a significant recovery from the total comprehensive loss of HKD 5.4 million in the previous year[12]. - The company reported a basic earnings per share of HKD 0.31 for the three months ended June 30, 2019, compared to a loss per share of HKD 0.89 in the same period of 2018[12]. - Total revenue for the three months ended June 30, 2019, was HKD 28,788,000, compared to HKD 22,201,000 in 2018, reflecting a growth of 29.9%[30]. - The company reported a pre-tax profit of HKD 940,000 for the three months ended June 30, 2019, compared to HKD 896,000 in the same period of 2018[34]. - The company's revenue for the three months ended June 30, 2019, was approximately HKD 28.8 million, representing a 29.7% increase compared to HKD 22.2 million for the same period in 2018[42][46]. - The net profit for the three months ended June 30, 2019, was approximately HKD 2.5 million, a turnaround from a net loss of HKD 5.4 million in the same period of 2018[42][54]. Employee Costs - Employee costs increased to HKD 11.1 million for the three months ended June 30, 2019, compared to HKD 8.2 million in the same period of 2018, reflecting a rise of 35.4%[12]. - Total employee costs for the three months ended June 30, 2019, amounted to HKD 11,119,000, an increase from HKD 8,182,000 in the previous year, indicating a rise of 35.5%[32]. - Employee costs for the three months ended June 30, 2019, were approximately HKD 11.1 million, up from HKD 8.2 million in 2018, primarily due to an increase in the number of employees and sales commissions[48]. Dividends - The board of directors did not recommend the distribution of dividends for the three months ended June 30, 2019, consistent with no dividends declared in 2018[10]. - The company did not recommend any dividend distribution for the three months ended June 30, 2019, consistent with the previous year[36]. - The board did not recommend any dividend for the three months ended June 30, 2019[55]. Revenue Breakdown - Revenue from treatment services for the three months ended June 30, 2019, was HKD 26,964,000, representing a 27.5% increase from HKD 21,191,000 in the same period of 2018[30]. - Sales of skincare products for the same period reached HKD 1,474,000, up from HKD 602,000, marking a 144.5% increase year-over-year[30]. Operational Focus - The company continues to focus on expanding its skincare product offerings and enhancing service delivery in Hong Kong[18]. - The company is committed to ongoing research and development to innovate new products and improve existing services[18]. - The company plans to expand its operations by opening new centers in Central and Causeway Bay to capture growing customer demand[44]. - The management team is actively participating in industry exhibitions to stay updated on cutting-edge technologies and market trends[44]. - The company aims to enhance its competitive advantage by diversifying the range of services offered at its medical beauty centers[44]. Financial Position - The total equity of the company increased to HKD 73.2 million as of June 30, 2019, up from HKD 70.7 million at the beginning of the period[16]. - The cost of inventory and consumables for the three months ended June 30, 2019, was approximately HKD 2.7 million, compared to HKD 2.0 million in 2018, driven by sales growth[47]. - Depreciation expenses for property, plant, and equipment for the three months ended June 30, 2019, were approximately HKD 1.9 million, accounting for 6.5% of total revenue, compared to 5.9% in 2018[51]. - There were no significant capital commitments as of June 30, 2019[55]. Corporate Governance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15 and has complied with all applicable provisions since its listing date[57]. - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated results for the three months ended June 30, 2019, and found them to comply with applicable accounting standards and GEM Listing Rules[59]. Shareholder Information - Equal Joy, a major shareholder, holds 600,000,000 shares, representing 75% of the company's equity after the share offering[68]. - The company has adopted a share option scheme to reward and recognize qualified individuals for their contributions, effective for ten years from September 21, 2018[71]. - As of June 30, 2019, there have been no share options granted, exercised, or canceled under the share option scheme[71]. - There are no outstanding share options, warrants, derivatives, or convertible securities as of the report date[71]. - No arrangements have been made for directors to acquire shares or debt securities of the company or any other corporation during the reporting period[72]. - There are no interests held by directors or their associates in any competing businesses during the review period[74].

Financial Performance - The group's revenue for the year ended March 31, 2019, was approximately HKD 101.4 million, an increase of about HKD 12.8 million or 14.4% compared to approximately HKD 88.7 million for the year ended March 31, 2018[11]. - The group recorded a net loss of approximately HKD 0.2 million for the year ended March 31, 2019, compared to a net profit of approximately HKD 15.8 million in 2018, primarily due to listing expenses of approximately HKD 16.3 million incurred during the year[11]. - Revenue from treatment services increased by approximately HKD 12.7 million or 15.1% to approximately HKD 97.1 million for the year ended March 31, 2019[14]. - Revenue from skincare product sales increased by approximately HKD 0.6 million or 25.7% to approximately HKD 2.8 million for the year ended March 31, 2019[14]. - Revenue from prepaid treatment services decreased by approximately HKD 0.5 million or 25.3% to approximately HKD 1.5 million for the year ended March 31, 2019[14]. - The company's revenue for the year ended March 31, 2019, was approximately HKD 101.4 million, an increase of 14.4% compared to HKD 88.7 million for the year ended March 31, 2018[24]. - The net loss for the year was approximately HKD 0.2 million, compared to a profit of HKD 15.8 million in the previous year, primarily due to listing expenses of approximately HKD 16.3 million incurred during the year[30]. Operational Strategy - The company remains optimistic about the growth prospects of the medical beauty service industry in Hong Kong, driven by increasing demand[15]. - The company plans to continue strategic business expansion and effective marketing activities to capture the evolving market demand and industry growth[15]. - The management is committed to evaluating development opportunities to strengthen competitive advantages and consolidate its leading position in the industry[15]. - The company aims to expand the range of treatment services offered through the acquisition of new treatment equipment and consumables[15]. - The company plans to conduct market research on cutting-edge treatment technologies and skincare products to meet growing customer demand[21]. - The company aims to maximize shareholder value by leveraging its solid customer base and good reputation[22]. - The company emphasizes quality assurance and public relations as part of its operational strategy[64]. - The company aims to expand its market presence and explore new strategies for growth in the medical beauty sector[79]. Financial Position - Employee costs for the year were approximately HKD 34.1 million, accounting for about 33.6% of total revenue, with an increase in employee count to 84 from 74 in the previous year[26]. - Inventory and consumables costs were approximately HKD 10.0 million, representing 9.8% of total revenue, up from 8.4% in the previous year[25]. - Capital expenditure for the year was approximately HKD 10.6 million, including the purchase of treatment equipment and renovations[39]. - The total equity of the group as of March 31, 2019, was approximately HKD 70.7 million, up from HKD 21.9 million in the previous year[38]. - The debt-to-equity ratio as of March 31, 2019, was calculated at 25.1%, a significant decrease from 106.5% in the previous year[46]. - The group's operating lease commitments amounted to approximately HKD 26.6 million as of March 31, 2019, compared to HKD 18.2 million in the previous year[51]. - As of March 31, 2019, the group had secured bank borrowings of approximately HKD 13.5 million, down from HKD 16.9 million in the previous year[54]. - The group had no significant contingent liabilities as of March 31, 2019, compared to zero in the previous year[52]. - The group did not engage in any major investments, acquisitions, or disposals of subsidiaries and capital assets during the year[41]. - The group has not experienced significant impacts from foreign exchange fluctuations on its operating cash flow and has not entered into hedging transactions[47]. Corporate Governance - The company was established on March 2, 2018, and listed on the GEM of the Hong Kong Stock Exchange on October 15, 2018[78]. - The company operates as an investment holding company with its main subsidiaries' businesses detailed in the financial statements[79]. - The management team includes experienced professionals with backgrounds in various industries, enhancing operational efficiency and strategic direction[70][75]. - The board of directors includes independent non-executive members with extensive experience in finance, accounting, and legal sectors, ensuring robust governance[65][66][69]. - The operational manager has a strong background in customer relations and sales strategy, contributing to the company's market positioning[70]. - The management team is committed to enhancing business skills and knowledge through continuous education and professional development[64][75]. - The board of directors is actively involved in overseeing the company's financial performance and strategic initiatives[77]. - The company has maintained high standards of corporate governance, adhering to the GEM listing rules and corporate governance code since its listing[168]. - The board of directors consists of five members, including two executive directors and three independent non-executive directors[172]. - The board held five meetings from the listing date to the report date to discuss overall strategy and financial performance[175]. - Independent non-executive directors confirmed their independence in accordance with GEM listing rules[179]. - The board is responsible for leading and controlling the company, ensuring effective internal controls and risk management systems[181]. - All directors have access to company information and can seek independent professional advice at the company's expense[187]. - The Audit Committee held three meetings to review the interim, third quarter, and annual performance of the group[194]. - The Audit Committee reviewed the audited financial statements for the year ended March 31, 2019[194]. - The Remuneration Committee approved the remuneration and performance bonuses for the company's directors and senior management during the reporting period[197]. Shareholder Information - The board did not recommend the distribution of a final dividend for the year ended March 31, 2019[12]. - The company reported a reserve available for distribution to shareholders of approximately HKD 45.6 million as of March 31, 2019, compared to zero in 2018[95]. - Revenue from the top five customers accounted for less than 3.7% of total revenue for the year ended March 31, 2019, up from 2.3% in 2018[97]. - The largest supplier accounted for approximately 26.5% of total procurement for the year ended March 31, 2019, compared to 13.9% in 2018[97]. - Total procurement from the top five suppliers represented about 74.4% of total procurement for the year ended March 31, 2019, an increase from 61.1% in 2018[97]. - The company made charitable donations of approximately HKD 25,000 during the year, compared to about HKD 10,000 in 2018[99]. - The company did not recommend the payment of a final dividend for the year ended March 31, 2019[91]. Regulatory and Market Conditions - The company is subject to potential regulatory changes in the medical beauty services sector, which could increase operational costs and impact profit margins[82]. - The company’s operations are heavily influenced by the economic, social, and political conditions in Hong Kong, which could affect customer demand for medical beauty services[86]. - The company has maintained good relationships with employees, customers, and suppliers, with no significant disputes reported for the year ended March 31, 2019[89]. Stock Options and Securities - Equal Joy holds 600,000,000 shares, representing 75% of the company's equity post-offering[113]. - Mr. Ye and Ms. Fu each legally own 50% of Equal Joy's issued shares[113]. - No stock options have been granted, exercised, expired, or canceled under the stock option plan as of March 31, 2019[117]. - The total number of securities that can be issued under the stock option plan is 80,000,000 shares, which is 10% of the total issued shares as of the report date[120]. - The stock option plan aims to attract, retain, and reward eligible individuals contributing to the group's interests[118]. - The maximum number of shares issued due to exercising stock options in any 12-month period cannot exceed 1% of the issued shares[124]. - The stock option plan will be effective for 10 years from the listing date[131]. - Each eligible participant must pay a nominal value of HKD 1.00 when accepting the offer[127]. - The exercise price for any specific stock option must not be lower than the highest of the closing price on the grant date or the average closing price over the preceding five trading days[129]. - The initial term for executive directors' service contracts is three years from the listing date[133]. - No related party transactions were disclosed during the year according to GEM Listing Rules[135]. - The company has not entered into any significant contracts or arrangements with directors or controlling shareholders during the reporting period[141]. - The public float of the company's issued shares is not less than 25% as required by GEM Listing Rules[148]. - The company did not purchase, sell, or redeem any of its listed securities during the year ended March 31, 2019[157]. - The remuneration of directors and senior management is reviewed annually by the remuneration committee based on the company's performance and market statistics[158]. Audit and Compliance - The audit committee has reviewed the audited consolidated financial statements for the year ended March 31, 2019, confirming compliance with applicable accounting standards and GEM listing rules[162]. - The consolidated financial statements for the year ended March 31, 2019, were audited by Deloitte Touche Tohmatsu, who will be proposed for reappointment at the upcoming annual general meeting[163].

Financial Performance - For the nine months ended December 31, 2018, the group's revenue was approximately HKD 70.3 million, an increase from HKD 66.7 million for the same period in 2017, representing a growth of 2.4%[8] - The group incurred a net loss of approximately HKD 6.3 million, primarily due to non-recurring listing expenses of about HKD 16.3 million during the period[8] - Excluding the non-recurring listing expenses, the group's net profit after tax for the nine months would be approximately HKD 10.0 million, a decrease of 22.8% compared to the same period in 2017[8] - The group reported a gross profit margin of approximately 90.2% for the nine months ended December 31, 2018, compared to 91.5% in the previous year[11] - Total operating expenses increased to approximately HKD 43.1 million, up from HKD 39.0 million in the same period of 2017, reflecting a rise of 10.5%[11] - The total comprehensive loss for the period was HKD 6.3 million, compared to a profit of HKD 12.9 million in the same period of 2017[11] - Revenue from treatment services for the nine months ended December 31, 2018, was HKD 66,752,000, an increase of 11.5% from HKD 63,159,000 in 2017[27] - Sales of skincare products reached HKD 2,434,000, up 26.4% from HKD 1,925,000 in the previous year[27] - Total revenue for the nine months ended December 31, 2018, was HKD 70,288,000, compared to HKD 66,711,000 in 2017, reflecting a growth of 3.6%[27] - Other income for the nine months ended December 31, 2018, was HKD 900,000, an increase from HKD 862,000 in 2017[29] Equity and Restructuring - As of December 31, 2018, the company's total equity was HKD 64,636,000, down from HKD 56,000,000 due to restructuring impacts[21] - The company underwent a restructuring that resulted in a decrease of HKD 23,026,000 in accumulated reserves[21] - The company issued new shares resulting in an increase in share capital to HKD 8,000,000 as of December 31, 2018[21] Dividend Distribution - The company did not recommend any dividend distribution for the nine months ended December 31, 2018[9] - The company did not recommend any dividend distribution for the nine months ended December 31, 2018, compared to HKD 13.0 million for the same period in 2017[37] - The board of directors did not recommend any dividend distribution for the nine months ended December 31, 2018, compared to HKD 13.0 million distributed for the same period in 2017[54] Operational Focus and Future Plans - The company plans to continue its market expansion and product development strategies to enhance future performance[8] - The group is focusing on reducing non-recurring expenses to improve profitability in the upcoming quarters[8] - The company plans to expand its market presence in Hong Kong by enhancing its treatment services and skincare product offerings[19] - The company is focused on developing new technologies and products to improve service delivery and customer satisfaction[19] - The company plans to continue evaluating development opportunities to strengthen its competitive advantage and maintain its leading position in the industry[45] - The management remains optimistic about sustainable growth and aims to provide greater returns to shareholders[45] Costs and Expenses - Employee costs for the nine months ended December 31, 2018, were approximately HKD 24.4 million, compared to HKD 23.9 million for the same period in 2017, indicating stability in employee expenses[48] - The cost of inventory and consumables for the nine months ended December 31, 2018, was approximately HKD 6.9 million, accounting for 9.8% of total revenue, compared to HKD 5.6 million or 8.4% in 2017[47] - The depreciation expense for the nine months ended December 31, 2018, was approximately HKD 4.2 million, representing 6.0% of total revenue, compared to HKD 2.0 million or 3.0% in 2017[51] - The total other expenses for the nine months ended December 31, 2018, were approximately HKD 14.8 million, compared to HKD 12.0 million in 2017, mainly related to consulting fees and marketing expenses[52] - The company incurred rental and related expenses of approximately HKD 8.0 million for the nine months ended December 31, 2018, compared to HKD 7.8 million in 2017[50] Corporate Governance - The company maintains high standards of corporate governance to protect shareholder interests and enhance corporate value[56] - The company has adopted the GEM listing rules and corporate governance code since its listing date and continues to review its governance practices[56] - The company has established an audit committee in accordance with GEM listing rules to oversee financial reporting and internal controls[58] - The audit committee reviewed the unaudited condensed consolidated results for the nine months ended December 31, 2018, and confirmed compliance with applicable accounting standards and GEM listing rules[58] Shareholder Information - The major shareholders, Mr. Ye and Ms. Fu, each hold 75% of the shares through a controlled corporation, Equal Joy, which owns 600,000,000 shares[64] - Equal Joy is jointly owned by Mr. Ye and Ms. Fu, each holding a 50% beneficial interest in the issued shares[65] - There were no disclosures of interests or short positions in shares or debentures by directors or key executives as of the report date[62] - There are no arrangements in place for directors to acquire shares or debt securities of the company or any other corporation, nor have any rights been granted to directors or their immediate family members[71] - There are no interests held by directors or their associates in any competing businesses during the review period[73] Share Option Scheme - The company has adopted a share option scheme to reward and recognize qualified individuals for their contributions, effective for ten years from September 21, 2018[70] - As of December 31, 2018, there have been no share options granted, exercised, or cancelled under the share option scheme[70]