Financial Performance - Total revenue for the year ended December 31, 2024, was approximately HKD 470.4 million, a decrease of about 0.3% compared to HKD 471.8 million in 2023[14] - The company reported a profit of approximately HKD 2.4 million for the year, compared to a loss of HKD 0.9 million in 2023, primarily due to reduced cost of goods sold and operating expenses[14] - The company has experienced a significant improvement in its financial performance, transitioning from a loss to a profit in the current fiscal year[14] - For the fiscal year ending December 31, 2024, the company's revenue decreased by approximately 0.3% to about HKD 470.4 million from HKD 471.8 million in the previous year[21] - The revenue generated from Shanghai-style restaurants increased by approximately HKD 39.6 million or about 21.4% to approximately HKD 224.5 million, primarily due to the opening of two new restaurants[24] - The revenue from Japanese restaurants decreased by approximately HKD 7.4 million or about 6.3% to approximately HKD 110.3 million, mainly due to the closure of a restaurant[25] - The revenue from Vietnamese restaurants decreased by approximately HKD 15.8 million or about 24.7% to approximately HKD 48.2 million, primarily due to the closure of a restaurant[26] - The revenue from Thai restaurants decreased by approximately HKD 15.9 million or about 30.1% to approximately HKD 36.9 million, attributed to a reduction in the number of operating restaurants[27] - The revenue from Italian restaurants decreased by approximately HKD 4.5 million or about 8.7% to approximately HKD 47.2 million, mainly due to a decline in sales at a specific restaurant[28] Assets and Liabilities - The total assets amounted to HKD 305.0 million, while total liabilities were HKD 234.2 million, resulting in a net asset value of HKD 70.8 million[11] - The total value of assets decreased from HKD 333.0 million in 2023 to HKD 305.0 million in 2024[11] - The company’s total liabilities decreased from HKD 261.7 million in 2023 to HKD 234.2 million in 2024[11] - The capital debt ratio improved to approximately 55.7% as of December 31, 2024, down from 71.5% as of December 31, 2023[46] Operational Strategy - The company operates thirteen restaurants in Hong Kong, including nine under its own brand and four under franchise agreements[14] - The strategy includes reducing the number of wholly-owned restaurants to focus on providing food management and franchising services, which is expected to enhance profitability and lower capital investment[14] - The company aims to achieve sustainable growth by balancing cost control and product quality through supply chain optimization and innovative cooking techniques[14] - Future plans involve further automation to reduce labor costs and improve cost efficiency[14] - The company is developing a new high-quality food series under the "家嘗菜" brand to diversify revenue sources and reduce reliance on traditional restaurant operations[18] - The company is committed to expanding its B2B2C platform "Shanghui" to enhance market presence and profitability while ensuring customer satisfaction[64] Employee and Operational Costs - Employee benefits expenses increased by approximately 2.3% from HKD 167.7 million for the year ending December 31, 2023, to HKD 171.5 million for the year ending December 31, 2024[31] - Depreciation and amortization expenses rose from approximately HKD 85.6 million for the year ending December 31, 2023, to HKD 89.2 million for the year ending December 31, 2024[32] - Rental expenses increased by approximately 19.4%, from HKD 9.8 million for the year ending December 31, 2023, to HKD 11.7 million for the year ending December 31, 2024[35] - The cost of goods sold was approximately HKD 119.7 million, accounting for about 25.6% of total revenue, a decrease from 26.7% in the previous year[30] Corporate Governance - The company has a diverse board with members holding qualifications in finance, law, and management[72] - The company is focused on regulatory compliance and maintaining high standards in corporate governance[75] - The board consists of four executive directors, one non-executive director, and three independent non-executive directors, ensuring compliance with GEM listing rules regarding board composition[171] - The company has established four board committees, including the Audit Committee, Remuneration Committee, Nomination Committee, and Strategy Development Committee, to oversee specific aspects of its affairs[168] - The company has implemented a board diversity policy to enhance performance by considering various factors such as gender, age, cultural background, and professional experience in board composition[173] - The audit committee reviews financial reports and internal control systems, ensuring their adequacy and effectiveness[190] Legal and Compliance - There are no significant legal proceedings or arbitration involving the company as of December 31, 2024[62] - The company has adhered to all relevant laws and regulations, with no significant violations reported during the year[150] - The company confirmed compliance with GEM Listing Rules regarding related party transactions, with no additional disclosures required for the year ending December 31, 2024[147] Shareholder Information - The board does not recommend a final dividend for the year ending December 31, 2024[53] - As of December 31, 2024, Real Hero Ventures Limited holds 274,350,000 shares, representing approximately 71.45% of the company's total shares[118] - The company has maintained at least 25% of its issued shares held by the public, in compliance with GEM Listing Rules[159] Future Outlook - The company plans to continue cautiously expanding its business and exploring opportunities for opening and investing in new restaurants[51] - The company anticipates that the relocation and renovation will not cause significant disruption to its business operations or financial condition[137] - The renewal of the Shili Yangchang lease is expected to have a positive impact on the company's future development[138]

Financial Performance - The group recorded revenue of approximately HKD 470.4 million for the year ending December 31, 2024, a decrease of about 0.3% compared to HKD 471.8 million for the year ending December 31, 2023[5]. - Adjusted profit before tax was approximately HKD 4.9 million, up from HKD 2.9 million in 2023[5]. - The group achieved a net profit after tax of approximately HKD 2.4 million, compared to a loss of HKD 0.9 million in 2023[5]. - The overall comprehensive income for the year was HKD 2.3 million, compared to a loss of HKD 1.0 million in 2023[7]. - The company reported a cumulative loss of HKD 40,304 million in 2024 compared to HKD 39,139 million in 2023, an increase in loss of approximately 3.0%[9]. - The company reported a pre-tax profit of HKD 2,831,000 for 2024, compared to a loss of HKD 474,000 in 2023[35]. - Basic loss per share for 2024 was HKD 0.30, an improvement from HKD 1.63 in 2023[37]. Dividends - The board of directors did not recommend a final dividend for the year ending December 31, 2024, consistent with 2023[5]. - No final dividend is recommended for the year ending December 31, 2024, consistent with 2023[46]. Assets and Liabilities - Total assets decreased from HKD 333,035 million in 2023 to HKD 305,038 million in 2024, a decline of approximately 8.4%[8]. - Non-current assets decreased from HKD 218,121 million in 2023 to HKD 175,039 million in 2024, a decrease of about 19.7%[8]. - Current assets decreased from HKD 99,621 million in 2023 to HKD 86,917 million in 2024, a reduction of approximately 12.8%[8]. - Total liabilities decreased from HKD 261,691 million in 2023 to HKD 234,194 million in 2024, a decline of about 10.5%[9]. - Non-current liabilities decreased from HKD 90,136 million in 2023 to HKD 80,345 million in 2024, a decrease of approximately 10.0%[9]. - Current liabilities decreased from HKD 165,179 million in 2023 to HKD 144,058 million in 2024, a reduction of about 12.8%[9]. - Total equity decreased slightly from HKD 71,344 million in 2023 to HKD 70,844 million in 2024, a decrease of about 0.7%[9]. - The company’s cash and cash equivalents decreased from HKD 64,766 million in 2023 to HKD 53,082 million in 2024, a decline of about 18.1%[8]. - The company’s total equity attributable to owners of the parent decreased from HKD 58,390 million in 2023 to HKD 57,109 million in 2024, a decrease of approximately 2.2%[9]. Operational Efficiency - Operating expenses decreased by approximately 3.5% year-over-year, contributing to the improved profitability[6]. - The group is focusing on enhancing operational efficiency and reducing costs to drive future profitability[6]. - The group reported a decrease in other operating expenses for the year ending December 31, 2024, primarily due to lower restoration costs from restaurant closures and relocations[70]. Market Strategy - The company plans to expand its market presence through strategic partnerships and new product offerings in the upcoming fiscal year[6]. - The group aims to reduce the number of wholly-owned restaurants and focus on providing restaurant management and franchising services, which has generated additional revenue[91]. - The group is developing a new series of quality food products under the "Home Taste" brand to diversify revenue sources and enhance market share[92]. Employee Costs - The group’s employee costs for 2024 were HKD 150,235,000, consistent with the previous year’s figure of HKD 145,271,000, reflecting a slight increase of approximately 3.3%[23][24]. - Employee benefits expenses increased from approximately HKD 167.7 million in 2023 to about HKD 171.5 million in 2024, reflecting a growth of approximately 2.3%[60]. Revenue by Segment - For the fiscal year ending December 31, 2024, total revenue from restaurant operations and consulting services amounted to HKD 497,439,000, a slight decrease from HKD 499,998,000 in 2023[23][24]. - Revenue from Shanghai-style restaurants increased by approximately HKD 39.6 million or 21.4% to about HKD 224.5 million for the fiscal year ending December 31, 2024[53]. - Revenue from Japanese restaurants decreased by approximately HKD 7.4 million or 6.3% to about HKD 110.3 million for the fiscal year ending December 31, 2024[54]. - Revenue from Vietnamese restaurants decreased by approximately HKD 15.8 million or 24.7% to about HKD 48.2 million for the fiscal year ending December 31, 2024[55]. - Revenue from Thai restaurants decreased by approximately HKD 15.9 million or 30.1% to about HKD 36.9 million for the fiscal year ending December 31, 2024[56]. - Revenue from Italian restaurants decreased by approximately HKD 4.5 million or 8.7% to about HKD 47.2 million for the fiscal year ending December 31, 2024[57]. Compliance and Governance - The group’s financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and the Hong Kong Companies Ordinance, ensuring compliance with local regulations[14]. - The audit committee, consisting of three independent non-executive directors, has reviewed the consolidated financial statements for the year ending December 31, 2024, and believes they are prepared in accordance with applicable accounting standards[101]. - The consolidated financial statements have been confirmed by the company's auditors, ensuring consistency with the audited figures[102]. - The company emphasizes the importance of effective communication with shareholders to enhance understanding of its business and strategies[104]. - The company has established a shareholder communication policy to ensure timely and accessible information for shareholders and potential investors[105]. Future Outlook - The group continues to evaluate market competitiveness and is optimistic about future business success despite uncertainties in the business environment[93]. - The group plans to continue cautiously expanding its business and reviewing opportunities for opening and investing in new restaurants[81].

1957 &CO. 1957 & Co. (Hospitality) Limited (在開曼群島註冊成立之有限公司) 股份代號：8495 中期業績報告 2024 델 ◈ 캐 ມອບປິດ ຸ້າ SHANGHAI 十里洋場 香港聯合交易所有限公司(「聯交所」) GEM 的特色 GEM 的定位，乃為中小型公司提供一個上市的市場·此等公司相比超其他在主板上市的公司帶有較高投資風險・有意投資 的人士應了解投資於該等公司的潛在風險,並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普邊為中小型公司，在GEM 買賣的證券可能會較於主板買賣之證券承受較大的市場波動風險，同時無法 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之內容概不負責·對其準確性或完整性亦不發表任何聲明·並明確表示概不就 因本報告全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 本報告的資料乃邊照《聯交所 GEM 證券上市規則》(「GEM 上市規則）而刊載・旨在提供有關 1957 & Co. (Hospitality) Limited 〔「本公司」·連同共附屬公司統稱為「本集 ...

香 港 交 易 及 結 算 所 有 限 公 司 及 聯 交 所 對 本 公 告 之 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 就 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 之 任 何 損 失 承 擔 任 何 責 任。 1957 & Co. (Hospitality) Limited （股份代號：8495） （於開曼群島註冊成立的有限公司） 截 至2024年6月30日 止 六 個 月 的 中 期 業 績 公 告 香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）GEM的 特 色 GEM的 定 位，乃 為 中 小 型 公 司 提 供 一 個 上 市 的 市 場，此 等 公 司 相 比 起 其 他 在 主 板 上 市 的 公 司 帶 有 較 高 投 資 風 險。有 意 投 資 的 人 士 應 了 解 投 資 於 該 等 公 司 的 潛 在 風 險，並 應 經 過 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 ...

香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市的公司帶有較高投資風險。有意投 資的人士應了解投資該等公司的潛在風險，並應經過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聯交所主板買賣之證券承受較大的市場波動風險，同 時無法保證在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，並明確表示概不就 因本報告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 本報告的資料乃遵照《聯交所GEM證券上市規則》（「GEM上市規則」）而刊載，旨在提供有關1957 & Co. (Hospitality) Limited （「本公司」或「1957 & Co.」，連同其附屬公司稱為「本集團」或「我們」）的資料；本公司董事（「董事」）就本報告的資料共同 及個別承擔全部責任。各董事作出一切合理查詢後確認，就彼等所知及所信，本報告所載資料在各重大方面均準確完整，並 無誤導或欺詐成分，及並無遺漏任何其他事 ...

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 之 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 就 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 之 任 何 損 失 承 擔 任 何 責 任。 1957 & Co. (Hospitality) Limited （股份代號：8495） （於開曼群島註冊成立的有限公司） 截 至2023年12月31日 止 年 度 的 全 年 業 績 公 告 香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）GEM的 特 色 GEM的 定 位，乃 為 中 小 型 公 司 提 供 一 個 上 市 的 市 場，此 等 公 司 相 比 起 其 他 在 聯 交 所 上 市 的 公 司 帶 有 較 高 投 資 風 險。有 意 投 資 的 人 士 應 了 解 投 資 該 等 公 司 的 潛 在 風 險，並 應 經 過 審 慎 周 詳 的 考 慮 後 方 作 出 投 資 決 定。 由 於GE ...

智通财经APP讯，1957 & CO.(08495)发布公告，于2024年3月11日，Mango Tree (HK) Limited( 公司间接 全资附属公司)作为租户与业主就租赁康城的该等物业订立租赁协议，租期自2024年3月31日起至2028年 3月30日止为期4年( 可选择重续多2年至2030年3月30日 )。集团计划于该等物业以“御‧家上海”商号营运 上海菜新餐厅。该等物业为香港新界将军澳康城路1号康城3楼333号舖。 公告称，公司主要业务为投资控股。集团主要从事经营各种品牌的全服务式餐厅，致力为不同的顾客提 供高质素日本料理、泰国菜、越南菜、上海菜及意大利菜。除经营餐厅业务外，集团亦在香港及中国提 供餐饮管理及咨询服务。集团在香港经营上海菜餐厅方面拥有经验，目前在形点、奥海城、东港城及围 方经营4间提供上海菜的餐厅。经考虑( 其中包括 )该等物业周边现有餐厅、集团现有餐厅( 特 别 是 提 供 上 海 菜 的 餐 厅 )的 表 现 、 客 户 对集 团 现 有 餐 厅 的 反 馈 意 见 及 要求、该等物业的位置及该 等物业附近可资比较物业的现行市价，董事会认为租赁协议的条款属公平合理，而订立租赁协 ...

Revenue Performance - The group recorded unaudited revenue of approximately HKD 341.5 million for the nine months ended September 30, 2023, representing an increase of about 40.2% compared to HKD 243.6 million for the same period in 2022[3]. - For the three months ended September 30, 2023, the group achieved unaudited revenue of approximately HKD 118.0 million, a 10.0% increase from HKD 107.3 million in the same period of 2022[3]. - For the nine months ended September 30, 2023, total revenue reached HKD 341,456,000, up 40.2% from HKD 243,641,000 in the same period of 2022[17]. - Revenue from Shanghai-style restaurants increased by approximately 62.3%, from about HKD 77.2 million to approximately HKD 125.3 million, primarily due to the opening of a new restaurant and the lifting of social distancing measures[38]. - Revenue from Japanese-style restaurants rose by approximately 57.4%, from about HKD 56.4 million to approximately HKD 88.8 million, driven by the opening of a new restaurant and the easing of restrictions[39]. - Revenue from Vietnamese-style restaurants increased by approximately 57.4%, from about HKD 30.5 million to approximately HKD 48.0 million, benefiting from the removal of social distancing measures[42]. - Revenue from Thai restaurants decreased by approximately HKD 6.6 million or 13.4% to about HKD 42.5 million for the nine months ended September 30, 2022[43]. - Revenue from Italian restaurants increased by approximately HKD 7.7 million or 26.7% to about HKD 36.5 million for the nine months ended September 30, 2022, mainly due to the lifting of social distancing measures[44]. Financial Losses - The group reported an unaudited adjusted loss before tax and government grants of approximately HKD 10.0 million for the nine months ended September 30, 2023, compared to a loss of HKD 12.1 million for the same period in 2022[3]. - The unaudited loss attributable to the owners of the company for the nine months ended September 30, 2023, was approximately HKD 11.1 million, compared to a profit of HKD 1.7 million in the same period of 2022[3]. - The group experienced an operating loss of approximately HKD 2.9 million for the nine months ended September 30, 2023, compared to an operating profit of HKD 1.5 million for the same period in 2022[4]. - The company reported a net loss of HKD 11,087,000 for the three months ended September 30, 2023, compared to a loss of HKD 1,712,000 in the same period of 2022[17]. - Total comprehensive loss for the nine months ended September 30, 2023, was HKD 11,252,000, compared to a loss of HKD 1,685,000 for the same period in 2022[17]. - The total comprehensive loss for the nine months ended September 30, 2023, was approximately HKD 8.5 million, compared to a loss of HKD 1.7 million for the same period in 2022[5]. Expenses - The net financing costs for the nine months ended September 30, 2023, amounted to approximately HKD 6.7 million, compared to HKD 1.5 million for the same period in 2022[4]. - The company incurred cleaning and laundry expenses of HKD 11,739,000 for the nine months ended September 30, 2023, compared to HKD 8,949,000 in the same period of 2022[20]. - Total operating expenses for the nine months ended September 30, 2023, were HKD 39,732,000, an increase of 26.0% from HKD 31,513,000 in the same period of 2022[20]. - Employee benefit expenses for the nine months ended September 30, 2023, were approximately HKD 130.5 million, an increase from HKD 96.8 million in the same period of 2022[4]. - The group’s depreciation and amortization expenses for the nine months ended September 30, 2023, were approximately HKD 64.2 million, compared to HKD 43.2 million for the same period in 2022[4]. - Financing costs increased to approximately HKD 7.4 million from HKD 1.5 million, mainly due to rising interest rates and new leases[56]. Shareholder Information - As of September 30, 2023, total equity attributable to owners was HKD 63,855,000, down from HKD 71,182,000 as of December 31, 2022[8]. - The company did not declare or pay any dividends for the nine months ended September 30, 2023, consistent with the previous year[24]. - The basic loss per share for the nine months ended September 30, 2023, was HKD (2.89), compared to a loss of HKD (0.45) for the same period in 2022[27]. - The company has not granted any share options under the share option scheme as of September 30, 2023[66]. - The total number of shares available for grant under the share option scheme is 32,000,000, accounting for approximately 10% of the total shares issued at the time of listing[66]. - As of September 30, 2023, Real Hero Ventures Limited holds 274,350,000 shares, representing 71.45% of the company's total shares[63]. Corporate Governance - The company has maintained compliance with the corporate governance code throughout the review period[69]. - The company is committed to high levels of corporate governance to protect shareholder interests and enhance corporate value[69]. - The audit committee, consisting of three independent non-executive directors, reviewed the group's Q3 performance and confirmed compliance with applicable accounting standards and GEM listing rules[71]. - The group's Q3 financial performance was unaudited and not reviewed by the company's auditors[72]. - The board did not recommend any dividends for the review period, consistent with 2022[75]. - There were no significant acquisitions or disposals of subsidiaries or associates during the review period[76]. Business Operations - The company operated a total of 13 restaurants as of September 30, 2023, maintaining the same number as the previous year, with two new openings and two closures during the period[36]. - The company has signed three lease agreements to extend existing restaurant leases in Hong Kong, ensuring continued operations at key locations[35]. - The company holds minority equity investments in three restaurants in China, with no new openings or investments made during the review period[34]. - The company operates 13 restaurants in Hong Kong, including 8 under its own brand and 5 under franchise agreements[58]. - New restaurants, including Kwan 8 in Tsim Sha Tsui and Yu Jia Shanghai in Sha Tin, opened in January and July 2023 respectively[58]. - The company aims to diversify revenue sources through expansion into food supply chain, franchising, and restaurant consulting businesses[58]. - The company continues to enhance restaurant quality and assess internal growth and investment prospects for sustainable long-term expansion[58].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容 概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就 因本公告全部或任何部分內容而產生或因倚賴該等內容而引致之任何損 失承擔任何責任。 1957 & Co. (Hospitality) Limited （於開曼群島註冊成立的有限公司） （股份代號：8495） 截 至2023年9月30日 止 九 個 月 的 第 三 季 度 業 績 公 告 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的 定 位，乃 為 中 小 型 公 司 提 供 一 個 上 市 的 市 場，此 等 公 司 相 比 起 其 他在聯交所上市的公司帶有較高投資風險。有意投資的人士應了解投資 該等公司的潛在風險，並應經過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聯 交所主板買賣的證券承受較大的市場波動風險，同時無法保證在GEM買 賣的證券會有高流通量的市場。 本公告的資料乃遵照《聯交所GEM證券上市規則》（「GEM上市規則」）而刊載， 旨在提供有關1957 & Co. (Hospitality) Limited（ ...

Financial Performance - The group recorded unaudited revenue of approximately HKD 223.5 million for the six months ended June 30, 2023, representing an increase of about 63.9% compared to HKD 136.4 million for the same period in 2022[3]. - The group reported an unaudited adjusted loss before tax and government grants of approximately HKD 10.6 million for the six months ended June 30, 2023, an improvement from a loss of HKD 15.8 million in the same period of 2022[3]. - The group recorded an unaudited loss attributable to owners of the company of approximately HKD 10.9 million for the six months ended June 30, 2023, compared to a loss of HKD 8.2 million for the same period in 2022[3]. - For the three months ended June 30, 2023, the group achieved unaudited revenue of approximately HKD 110.7 million, a 20.5% increase from HKD 91.9 million in the same period of 2022[3]. - The group reported an unaudited adjusted loss before tax and government grants of approximately HKD 0.9 million for the three months ended June 30, 2023, compared to an adjusted profit of HKD 3.6 million in the same period of 2022[3]. - The group recorded an unaudited loss attributable to owners of the company of approximately HKD 0.3 million for the three months ended June 30, 2023, down from a profit of HKD 6.7 million in the same period of 2022[3]. - The company reported a net loss of HKD 10,929,000 for the six months ended June 30, 2023, compared to a loss of HKD 8,233,000 for the same period in 2022, indicating a deterioration of 32.7%[12]. - The group reported a loss before tax of HKD 10,592,000 for the six months ended June 30, 2023, compared to a loss of HKD 8,656,000 for the same period in 2022[27]. - For the six months ended June 30, 2023, total revenue reached HKD 236,895,000, a significant increase from HKD 144,595,000 for the same period in 2022, representing a growth of approximately 64%[27]. Assets and Liabilities - Total assets as of June 30, 2023, amounted to HKD 324.8 million, an increase from HKD 251.5 million as of December 31, 2022[8]. - Non-current assets increased significantly to HKD 243.9 million as of June 30, 2023, compared to HKD 157.3 million as of December 31, 2022[8]. - The group reported total equity of HKD 62.6 million as of June 30, 2023, down from HKD 75.8 million as of December 31, 2022[8]. - The group’s cash and cash equivalents decreased to HKD 47.4 million as of June 30, 2023, from HKD 54.2 million as of December 31, 2022[8]. - Total liabilities increased to HKD 262,136,000 as of June 30, 2023, compared to HKD 175,742,000 as of December 31, 2022, representing a growth of 49.2%[9]. - Non-current liabilities rose significantly, with lease liabilities increasing from HKD 31,226,000 to HKD 99,950,000, a rise of 219.5%[9]. - The total equity attributable to owners decreased to HKD 53,654,000 as of June 30, 2023, from HKD 64,716,000 at the beginning of the year, a decline of 17.1%[12]. - The company’s bank borrowings increased to HKD 47,465,000 as of June 30, 2023, compared to HKD 33,170,000 at the end of 2022, reflecting a rise of 42.9%[9]. - The group’s liabilities as of June 30, 2023, totaled HKD 262,136,000, an increase from HKD 175,742,000 as of December 31, 2022, representing a growth of approximately 49%[32][33]. Revenue Breakdown - Revenue from restaurant operations for the six months ended June 30, 2023, was HKD 223,107,000, up from HKD 135,490,000 in the same period of 2022, marking an increase of approximately 64%[37]. - Revenue from Shanghai-style restaurants increased by approximately 87.1% to HKD 75.2 million, driven by the opening of a new restaurant and the lifting of social distancing measures[66]. - Revenue from Japanese restaurants rose by approximately 79.5% to HKD 60.5 million, primarily due to the sales from a new restaurant opened in Tsim Sha Tsui[67]. - Revenue from Thai restaurants increased by approximately 13.5% to HKD 31.2 million, despite a decline due to the closure of two underperforming locations[69]. - Revenue from Vietnamese restaurants surged by approximately 83.3% to HKD 30.8 million, benefiting from the removal of social distancing measures[70]. - Revenue from Italian restaurants grew by approximately 46.2% to HKD 25.3 million, also influenced by the lifting of restrictions[71]. Expenses and Costs - Cost of goods sold for the six months ended June 30, 2023, was approximately HKD 60.8 million, representing 27.3% of total revenue, down from 30.3% in the previous year[72]. - Employee costs increased by approximately 47.9% from about HKD 58.5 million to about HKD 86.5 million for the six months ended June 30, 2023, primarily due to additional labor for new restaurants[73]. - Depreciation and amortization expenses rose from approximately HKD 26.8 million to about HKD 41.6 million for the same period, attributed to new leases and acquisitions for five new restaurants[75]. - Rental expenses increased by approximately 45.2% from about HKD 3.1 million to about HKD 4.5 million, driven by increased restaurant revenues[77]. - Other operating expenses rose by about 55.1% from approximately HKD 18.5 million to about HKD 28.7 million, mainly due to increased sales revenue[80]. - Financing costs increased significantly from about HKD 0.9 million to approximately HKD 4.4 million, primarily due to rising bank loan interest rates and new lease financing costs[82]. Corporate Governance and Future Outlook - The company is committed to maintaining high levels of corporate governance to protect shareholder interests and enhance corporate value[121]. - The company is actively exploring new business opportunities in the food supply chain sector[94]. - The management team is focused on evaluating internal growth and investment prospects to optimize sustainable long-term expansion positioning[110]. - The company anticipates steady improvement in the second half of 2023, benefiting from the Hong Kong government's consumer voucher program and tourism promotion activities[110]. - A new mobile membership application will be gradually introduced to enhance customer interaction and brand loyalty[110]. - The board plans to continue expanding the restaurant network, which is expected to lead to increased property rental and related expenses in the future[76]. Shareholder Information - As of June 30, 2023, Real Hero Ventures Limited holds a significant 71.45% stake in the company, representing 274,350,000 shares[115][116]. - The company has not granted any share options under the share option plan as of June 30, 2023, with a total of 32,000,000 shares available for grant, representing 10% of the total shares issued at listing[118]. - The board does not recommend the distribution of any dividends during the six-month review period, consistent with 2022[129].