Financial Performance - The group's revenue for the three months ended June 30, 2021, was approximately HKD 13.3 million, an increase of about 2.3% compared to the same period in 2020[4] - The group reported a loss of approximately HKD 1.1 million for the three months ended June 30, 2021, compared to a profit of approximately HKD 0.3 million in the same period of 2020[4] - The total comprehensive loss for the period was HKD 1.108 million, compared to a total comprehensive income of HKD 0.346 million in the same period of 2020[6] - The company reported a loss attributable to owners of HKD 1,123,000 for the three months ended June 30, 2021, compared to a profit of HKD 340,000 in the same period of 2020[31] - Revenue for the three months ended June 30, 2021, increased by approximately 2.3% to HKD 13.3 million from HKD 13.0 million in the same period of 2020[35] Revenue Breakdown - Revenue for the three months ended June 30, 2021, was HKD 13,260,000, a slight increase from HKD 12,960,000 in the same period of 2020, representing a growth of approximately 2.3%[19] - The company generated HKD 951,000 in revenue from sales of food and related products to franchisees during the three months ended June 30, 2021, compared to no revenue in the same period of 2020[19] - Revenue from consulting services provided to franchisees was HKD 46,000 for the three months ended June 30, 2021, down from HKD 77,000 in the same period of 2020, a decrease of approximately 40.3%[19] - The company’s revenue from operations in Hong Kong was HKD 12,004,000 for the three months ended June 30, 2021, compared to HKD 12,183,000 in the same period of 2020, reflecting a decrease of about 1.5%[23] - The company’s revenue from operations in China was HKD 67,000 for the three months ended June 30, 2021, a significant decrease from HKD 762,000 in the same period of 2020, representing a decline of approximately 91.2%[23] Costs and Expenses - The cost of inventory for the three months ended June 30, 2021, was HKD 3.021 million, compared to HKD 2.492 million in the same period of 2020[6] - Employee costs for the three months ended June 30, 2021, amounted to HKD 6.034 million, an increase from HKD 5.555 million in the same period of 2020[6] - The cost of inventory for the three months ended June 30, 2021, rose by approximately HKD 0.5 million or 21.2% to HKD 3.0 million, with the cost of sold inventory representing 22.8% of total revenue[37] - Other income decreased by approximately HKD 2.4 million, primarily due to a reduction in government subsidies and rental concessions received[38] - Rental and related expenses decreased by approximately HKD 0.1 million or 12.3% for the three months ended June 30, 2021, due to fewer lease agreements as some restaurants were closed during the fiscal year[42] Shareholder Information - As of June 30, 2021, the company’s major shareholders, Mr. Tang Zhenhao and Mr. Tang Qingzhi, held 341,250,000 shares, representing 68.25% of the total issued share capital[54] - The shareholding of Brilliant Trade has decreased to 60.25% due to the sale of its beneficially owned shares[55] - The company is seeking shareholder approval to update the 10% limit for shares to be issued under the stock option plan[64] Corporate Governance - The company has established an audit committee to review and supervise the financial reporting process and internal control procedures[71] - The audit committee's members include independent non-executive directors, ensuring compliance with GEM listing rules[71] - The company has adhered to the corporate governance code as per GEM listing rules during the reporting period[70] Future Outlook - The group aims to enhance operational efficiency and profitability while adapting to changing consumer habits post-COVID-19, with a focus on takeout and packaged products[52] - The management acknowledges the ongoing risks of COVID-19 outbreaks and emphasizes the importance of food quality and service standards regardless of market conditions[53] - The group will actively seek potential business opportunities and partnerships to expand revenue sources and improve shareholder returns[53]
赏之味(08096) - 2022 Q1 - 季度财报