Revenue and Income - Revenue for the three months ended June 30, 2022, was HKD 22,560,000, a significant increase of 165.5% compared to HKD 8,495,000 for the same period in 2021[8] - For the three months ended June 30, 2022, the total revenue was HKD 22,560,000, a significant increase of 166.5% compared to HKD 8,495,000 for the same period in 2021[31] - The revenue from bar and restaurant operations reached HKD 22,373,000, up 167.5% from HKD 8,375,000 in the previous year[40] - Other income decreased to HKD 6,111,000 from HKD 9,241,000, reflecting a decline of 33.1% year-over-year[8] - Other income decreased by 33.7% to HKD 6.1 million from HKD 9.2 million, primarily due to a reduction in government subsidies[54] Costs and Expenses - The cost of goods sold increased to HKD 5,603,000, up from HKD 1,848,000, representing a rise of 203.5%[8] - Employee costs rose to HKD 9,270,000, compared to HKD 6,916,000, marking an increase of 34.5%[8] - Total employee costs for the period amounted to approximately HKD 9.3 million, an increase from HKD 6.9 million in the previous period, with 465 employees as of June 30, 2022, up from 390 a year earlier[69] - The company reported a financing cost of HKD 1,063,000 for the three months ended June 30, 2022, compared to HKD 829,000 for the same period in 2021, reflecting an increase of 28.2%[35] - The depreciation of property, plant, and equipment amounted to HKD 2,698,000, which is an increase from HKD 1,814,000 in the previous year[35] - Depreciation expenses for property, plant, and equipment increased by approximately 50.0% to HKD 2.7 million from HKD 1.8 million, driven by business expansion[57] - Depreciation of right-of-use assets increased by 40.0% to HKD 7.0 million from HKD 5.0 million, also due to business expansion[58] Profit and Loss - The loss before tax for the period was HKD 1,737,000, an improvement from a loss of HKD 2,832,000 in the previous year, indicating a reduction of 38.7%[8] - Total comprehensive loss for the period was HKD 1,805,000, compared to HKD 2,832,000, showing a decrease of 36.2%[8] - Basic and diluted loss per share improved to HKD 0.20 from HKD 0.32, reflecting a 37.5% reduction in loss per share[8] - The operating loss for the reporting period was HKD 1,349,000, an improvement from a loss of HKD 2,396,000 in the same quarter of the previous year[31] - The basic loss per share improved to HKD (0.20) from HKD (0.32) in the previous period, with a loss attributable to shareholders of HKD (1.741 million) compared to HKD (2.781 million)[49] Financial Position - As of June 30, 2022, total equity attributable to owners of the company was HKD 9,900,000, down from HKD 21,903,000 a year earlier[10] - The company reported a decrease in non-controlling interests to HKD 5,246,000 from HKD 5,498,000, a decline of 4.6%[10] - The group’s bank borrowings totaled approximately HKD 56.5 million as of June 30, 2022, down from HKD 58.0 million as of March 31, 2022[76] - The debt-to-equity ratio increased to 1,022% as of June 30, 2022, compared to 911% as of March 31, 2022[74] - As of June 30, 2022, the group had no capital commitments, compared to HKD 1,300,000 as of March 31, 2022[63] - The group reported no significant contingent liabilities as of June 30, 2022, consistent with the previous period[64] Operational Impact - The group reported a significant impact on operations due to COVID-19, with no revenue generated from bar operations between April 1 and May 18, 2022, due to government restrictions[14] - The company opened a new cocktail bar under the "Pacific Bar" brand in Tsim Sha Tsui during the period, expanding its presence to 47 bars/restaurants[51] - The group operates 47 bars and restaurants under four different brands, aiming to increase market share in Hong Kong[79] - The group is engaged in property investment in Hong Kong alongside its bar and restaurant operations[14] Future Outlook and Strategies - The company continues to explore market expansion opportunities and new product development strategies to enhance future growth[8] - The group anticipates maintaining its bank loan financing at the same level as the previous year, with plans to sell properties if necessary to repay bank borrowings[19] - The group expects to secure approximately HKD 21,100,000 in loans under the SME Financing Guarantee Scheme provided by the Hong Kong government[19] - The board has prepared cash flow forecasts covering a 12-month period to assess the appropriateness of using the going concern basis in preparing the financial statements[17] - The group has committed to financial support from major shareholders to ensure sufficient operating funds to meet upcoming liabilities[17] Compliance and Governance - The company has adopted the GEM Listing Rules and has complied with all applicable corporate governance code provisions[89] - The Audit Committee was established in accordance with the GEM Listing Rules and is responsible for reviewing financial statements and providing recommendations regarding the appointment of external auditors[97] - The Audit Committee consists of three independent non-executive directors, with Mr. Chan as the chairman[97] - The unaudited consolidated financial statements for the period have been reviewed and deemed compliant with applicable accounting standards and GEM Listing Rules[97] Shareholder Information - Moment to Moment holds 431,543,700 shares, representing approximately 50.18% of the company's issued share capital[87] - Harneys, as the trustee of the Pacific Bar Trust, also holds 431,543,700 shares, equivalent to 50.18% of the issued share capital[87] - The company has no knowledge of any other individuals or entities holding any interests or positions in shares or related shares as of June 30, 2022[86]
太平洋酒吧(08432) - 2023 Q1 - 季度财报