Financial Performance - Revenue for the six months ended June 30, 2023, was HKD 18,104,000, a decrease of 12.14% compared to HKD 20,607,000 for the same period in 2022[8]. - The company reported a loss of HKD 1,641,000 for the six months ended June 30, 2023, compared to a loss of HKD 3,025,000 for the same period in 2022, representing a 45.7% improvement[8]. - Basic loss per share for the six months ended June 30, 2023, was HKD 0.37, an improvement from HKD 0.68 for the same period in 2022[8]. - The company recorded a pre-tax loss of HKD 1,641 for the six months ended June 30, 2023, compared to a pre-tax loss of HKD 3,025 for the same period in 2022, representing a 45.8% improvement[25]. - The group recorded a net revenue of approximately HKD 18.1 million for the six months ended June 30, 2023, a decrease of about 12.1% compared to HKD 20.6 million for the same period in 2022[55]. - The group reported a loss attributable to owners of approximately HKD 1.6 million for the six months ended June 30, 2023, an improvement from a loss of HKD 3.0 million for the same period in 2022[61]. Assets and Liabilities - Total assets as of June 30, 2023, were HKD 38,390,000, an increase from HKD 37,512,000 as of December 31, 2022[10]. - The company’s total liabilities decreased to HKD 19,227,000 as of June 30, 2023, from HKD 16,153,000 at the end of 2022[10]. - The company’s total liabilities increased to HKD 20,386 as of June 30, 2023, compared to HKD 18,567 as of December 31, 2022[29]. - The group’s current assets amounted to approximately HKD 38.4 million as of June 30, 2023, compared to HKD 37.5 million as of December 31, 2022[62]. - The group’s current liabilities were approximately HKD 19.2 million as of June 30, 2023, an increase from HKD 16.2 million as of December 31, 2022[62]. - The company’s net asset value as of June 30, 2023, was HKD 18,718,000, down from HKD 20,359,000 at the end of 2022[10]. Cash Flow and Financing - The company incurred financing costs of HKD 117,000 for the six months ended June 30, 2023, down from HKD 277,000 for the same period in 2022[8]. - Cash and cash equivalents increased by HKD 426, compared to a decrease of HKD 11,418 in the same period last year[24]. - The net cash used in operating activities was HKD (5,779), significantly higher than HKD (64) in the previous year, indicating increased cash outflow[24]. - The company’s cash balance at the end of the period was HKD 2,162, down from HKD 5,853 at the end of the previous year[24]. - The company incurred financing costs related to lease liabilities amounting to HKD (2,786) for the six months ended June 30, 2023, compared to HKD (1,343) in the previous year[24]. Operational Efficiency - The company’s employee costs for the six months ended June 30, 2023, were HKD 9,423,000, a decrease from HKD 11,585,000 for the same period in 2022, reflecting a cost reduction strategy[8]. - The cost of materials and consumables used in restaurant operations decreased to HKD 4,404,000 for the six months ended June 30, 2023, down from HKD 6,470,000 in 2022, representing a 32% reduction[35]. - The company’s inventory decreased slightly to HKD 30,698,000 from HKD 31,165,000 as of December 31, 2022[10]. - Trade payables decreased to HKD 1,645,000 as of June 30, 2023, from HKD 1,850,000 at the end of 2022, showing an 11% reduction[47]. Strategic Plans and Future Outlook - The group plans to expand its takeaway product line and enhance marketing efforts to stimulate sales[60]. - The group aims to improve existing restaurant facilities to attract more customers[60]. - The company has a plan to develop, relocate, open, and upgrade restaurants, with an allocation of HKD 24,500,000 for this purpose[71]. - The company will continue to seek potential opportunities to expand revenue sources and enhance shareholder value[59]. - The company’s board will continuously evaluate business objectives and may revise plans based on changing market conditions[72]. Corporate Governance - The company has established an audit committee to review financial reports and ensure compliance with applicable accounting standards[81]. - The company is committed to maintaining high standards of corporate governance and has complied with the corporate governance code provisions, except for the separation of the roles of Chairman and CEO as required by code provision C.2.1[83]. - The company has adopted a code of conduct for securities trading by directors, which meets or exceeds the standards set out in GEM Listing Rules sections 5.48 to 5.67[82]. - Major shareholders include Wiltshire Global Limited and Peyton Global Limited, holding 9.3% and 15.3% of the shares respectively[78]. Dividends and Shareholder Returns - The company did not declare any dividends during the interim period, consistent with the previous year[37]. - The board has proposed a rights issue to enhance the group's working capital and strengthen its financial position[84].
CLASSIFIED-NEW(08232) - 2023 - 中期财报