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 （於開曼群島註冊成立的有限公司） （股份代號：8495） 截 至2023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。 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（「本公司」或「1957 & ...

Financial Performance - The group recorded unaudited revenue of approximately HKD 112.7 million for the three months ended March 31, 2023, representing an increase of approximately 153.8% compared to HKD 44.4 million in the same period of 2022[3]. - The group reported an unaudited adjusted loss before tax and government grants of approximately HKD 9.6 million, improved from a loss of HKD 19.4 million in 2022[3]. - The unaudited loss attributable to the owners of the company was approximately HKD 10.6 million, compared to HKD 14.9 million in the same period of 2022[3]. - Operating loss for the three months ended March 31, 2023, was HKD 7.0 million, a significant improvement from HKD 16.3 million in the same period of 2022[4]. - The basic and diluted loss per share attributable to owners of the company was HKD 2.76, compared to HKD 3.89 in the same period of 2022[4]. - Total comprehensive loss for the period was HKD 10.2 million, compared to HKD 17.1 million in the same period of 2022[5]. Revenue Breakdown - Total revenue for the three months ended March 31, 2023, was HKD 112.732 million, a significant increase of approximately 153.8% from HKD 44.032 million in the same period of 2022[17][35]. - The company generated revenue from restaurant operations, with the breakdown by cuisine type showing Shanghai cuisine at HKD 37.054 million (32.9%), Japanese cuisine at HKD 27.356 million (24.3%), and Thai cuisine at HKD 20.339 million (18.0%) for the three months ended March 31, 2023[35]. - Revenue from Thai restaurants increased from approximately HKD 8.1 million to about HKD 20.3 million, representing a growth of approximately 150.6% due to the rebound in sales after the lifting of social distancing measures[39]. - Revenue from Vietnamese restaurants rose from approximately HKD 4.6 million to about HKD 14.2 million, marking an increase of approximately 208.7% attributed to the same factors[40]. - Revenue from Italian restaurants grew from approximately HKD 5.8 million to about HKD 13.7 million, reflecting a growth of approximately 136.2% due to the sales rebound[41]. Expenses and Costs - The group incurred employee benefit expenses of HKD 44.2 million, up from HKD 26.4 million in the previous year[4]. - The cost of inventories sold increased to HKD 31.6 million from HKD 14.3 million in the same period of 2022[4]. - The group reported financing costs of HKD 2.6 million, compared to HKD 0.5 million in the same period of 2022[4]. - Cost of goods sold was approximately HKD 31.6 million and HKD 14.3 million for the respective periods, accounting for about 28.0% and 32.5% of total revenue, with a decrease in percentage due to cost reduction measures[42]. - Employee costs increased from approximately HKD 26.4 million to about HKD 44.2 million, a rise of approximately 67.4%, primarily due to additional labor for new restaurants[43]. - Depreciation and amortization expenses rose from approximately HKD 13.5 million to about HKD 21.5 million, driven by new leases and acquisitions for five new restaurants[45]. - Rental expenses increased from approximately HKD 1.0 million to about HKD 2.1 million, a rise of approximately 110%, due to increased revenue leading to higher turnover rents[47]. - Utilities expenses rose from approximately HKD 2.1 million to about HKD 3.3 million, attributed to an increase in the number of operating restaurants[48]. - Other operating expenses increased from approximately HKD 8.1 million to about HKD 16.8 million, a growth of approximately 107.4%, due to increased sales and the number of restaurants in operation[49]. Investments and Expansion - The company opened one new restaurant in Hong Kong during the review period, increasing the total number of restaurants to 14 as of March 31, 2023, compared to 12 in the previous year[29][34]. - The company has invested in three restaurants in China, holding minority stakes in each, and provided pre-opening consulting and management services[31]. - The company continues to monitor the performance of its minority stake investments in restaurants in China without opening or investing in new restaurants during the review period[32]. - The company established a new non-wholly owned subsidiary, 1957 Food Supply Chain Company Limited, in March 2023, focusing on global procurement of high-quality fresh food, expecting new revenue from wholesale business profits[55]. - A new wholly-owned subsidiary, 1957 & Co. (Overseas) Limited, was also established in March 2023 to provide brand and restaurant management services for new restaurants in Southeast Asia, with anticipated revenue from consulting and management fees[55]. - The company plans to expand the business functions of its wholly-owned subsidiary, 1957 (Shenzhen) Restaurant Management Co., Ltd., into franchise operations in China, expecting new revenue from consulting and management fees[58]. - A new Shanghai cuisine restaurant is expected to open in Sha Tin Wai by the end of July 2023, following the signing of a formal lease agreement during the review period[60]. - The company is actively exploring new management projects and opportunities to franchise its brand in China, aiming to provide stable returns and growth prospects for shareholders[62]. - The company is seeking suitable opportunities to develop food trading businesses in Hong Kong and China, aiming to maximize returns for investors[58]. Shareholder Information - As of March 31, 2023, Real Hero Ventures Limited holds 274,350,000 shares, representing 71.45% of the company's equity[68]. - The company has a stock option plan approved by shareholders on November 6, 2017, to incentivize employees and directors for their contributions[71]. - As of March 31, 2023, no stock options have been granted under the stock option plan[73]. - During the review period, the company did not purchase, sell, or redeem any listed securities[74]. - The company has not engaged in any competitive business activities during the review period[75]. Compliance and Governance - The audit committee has reviewed the group's first-quarter performance and confirmed compliance with applicable accounting standards[80]. - The company decided not to renew leases for two restaurants that recorded net losses, reducing further loss risks[82]. - No dividends were recommended for distribution during the review period[83]. - There were no significant acquisitions or disposals of subsidiaries or associates during the review period[84].

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3月31日 止 三 個 月 的 第 一 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 - Total revenue for 2022 was HKD 352.877 million, a decrease of 10.5% from HKD 394.185 million in 2021[12] - The company reported a loss attributable to owners of the company of HKD 0.533 million in 2022, compared to a profit of HKD 13.165 million in 2021[12] - Net profit after tax decreased to HKD 3.3 million from HKD 18.9 million in 2021, primarily due to the impact of the fifth wave of COVID-19 in Hong Kong and related government measures[23] - The group experienced a loss of HKD 17.2 million in the first quarter of 2022, but managed to turn the situation around by the end of the year, achieving profitability[23] - The company's cash and cash equivalents as of December 31, 2022, were approximately HKD 54.2 million, a decrease of about 42.6% compared to HKD 94.4 million in 2021, primarily due to cash used in financing and investment activities[76] - The company recorded a profit of approximately HKD 3.3 million for the year ended December 31, 2022, down from approximately HKD 18.9 million in the previous year, influenced by a government subsidy of about HKD 16.3 million[64] Assets and Liabilities - Total assets increased to HKD 251.523 million in 2022, up from HKD 205.980 million in 2021, representing a growth of 22%[12] - Total liabilities rose to HKD 175.742 million in 2022, compared to HKD 133.113 million in 2021, indicating a 32% increase[12] - The company's capital debt ratio as of December 31, 2022, was approximately 53.8%, up from 18.4% in 2021, mainly due to new bank borrowings during the year[81] Operational Challenges - The company adopted a cautious approach in business expansion and cost control due to the challenging operating environment caused by the COVID-19 pandemic[17] - The company experienced significant impacts on its operations due to the fifth wave of COVID-19 in Hong Kong, which began in early January 2022[17] - The company’s financial performance reflects the ongoing challenges in the Hong Kong economy, particularly in the hospitality sector[17] Business Strategy and Expansion - The company is focused on strategic development and maintaining operational resilience in the face of market volatility[17] - A new joint venture focused on the food supply chain was established in March 2023, aiming to source and sell high-quality fresh food globally[25] - A wholly-owned subsidiary is planned to be established in 2023 to focus on overseas franchise operations, particularly in Southeast Asia[25] - The group plans to expand its wholly-owned subsidiary's business functions into franchise operations in China, targeting new restaurant openings[25] - The company is diversifying its revenue sources and cautiously expanding its restaurant network to benefit shareholders[68] Restaurant Operations - The group currently operates thirteen restaurants in Hong Kong, including eight under its own brand and five under franchise or licensing arrangements[24] - The group opened two new restaurants in Hong Kong during 2022, increasing the total number of operating restaurants to thirteen[44] - Revenue from Shanghai-style restaurants increased by approximately 10.0% to about HKD 125.1 million, while revenue from Japanese restaurants decreased by approximately 27.8% to about HKD 72.3 million[47][48] - The group’s Thai restaurant revenue decreased by approximately 14.1% to about HKD 68.3 million due to tightened social distancing measures[49] - The group’s Vietnamese restaurant revenue decreased by approximately 17.8% to about HKD 43.3 million, also impacted by social distancing measures[51] Employee and Operational Costs - Employee costs increased by approximately 5.4% to about HKD 133.3 million for the year ended December 31, 2022, primarily due to additional labor for a new restaurant[54] - Cost of goods sold was approximately HKD 102.0 million for the year ended December 31, 2022, representing about 29.1% of total revenue, down from approximately HKD 115.5 million or 29.4% in the previous year[53] - Rental expenses decreased by approximately 36.3% to about HKD 5.1 million for the year ended December 31, 2022, compared to approximately HKD 8.0 million in the previous year[60] Governance and Management - The company has established a remuneration committee to review the compensation policies for directors and senior management based on operational performance and market practices[164] - The company’s audit committee is chaired by an independent non-executive director with extensive experience in accounting and corporate finance[119] - The company is committed to maintaining high standards of corporate governance through its various committees, including remuneration and nomination committees[115] Market Outlook - The outlook for the restaurant industry is positive, with expectations of economic recovery and increased inbound tourism driving growth[34] - The total revenue of the restaurant industry in Hong Kong for 2022 was approximately HKD 86.8 billion, a decrease of 6.4% in value and 9.5% in quantity compared to 2021[34] Shareholder Information - The board did not recommend the payment of a final dividend for the year ended December 31, 2022[86] - The company reported no final dividend for the year ended December 31, 2022, compared to zero in 2021[141] - As of December 31, 2022, Real Hero Ventures Limited holds 274,350,000 shares, representing approximately 71.45% of the company's equity[171] Legal and Compliance - The company has no significant contingent liabilities as of December 31, 2022[84] - There were no major lawsuits or arbitrations involving the group as of December 31, 2022[95] - The independent non-executive directors confirmed their independence under GEM Listing Rules, and the company believes they remain independent as of the report date[158]

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2022年12月31日 止 年 度 的 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。 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（「本公司」或「195 ...

Financial Performance - The group recorded unaudited revenue of approximately HKD 243.6 million for the nine months ended September 30, 2022, a decrease of about 15.5% compared to HKD 288.2 million for the same period in 2021[5]. - The group reported an unaudited adjusted loss before tax and government subsidies of approximately HKD 12.1 million for the nine months ended September 30, 2022, compared to an adjusted profit of HKD 8.3 million for the same period in 2021[5]. - For the three months ended September 30, 2022, the group recorded unaudited revenue of approximately HKD 107.3 million, an increase of 5.6% from HKD 101.6 million in the same period of 2021[5]. - The group reported an unaudited profit attributable to owners of the company of approximately HKD 6.5 million for the three months ended September 30, 2022, compared to HKD 2.3 million in the same period of 2021[5]. - The group recorded an unaudited loss attributable to owners of the company of approximately HKD 1.7 million for the nine months ended September 30, 2022, compared to a profit of HKD 9.5 million for the same period in 2021[5]. - The total comprehensive income for the three months ended September 30, 2022, was HKD 7.2 million, compared to HKD 2.5 million for the same period in 2021[11]. - The group’s total comprehensive loss for the nine months ended September 30, 2022, was HKD 1.7 million, compared to a total comprehensive income of HKD 11.9 million for the same period in 2021[11]. - The overall comprehensive income for the nine months ended September 30, 2022, was HKD (1,685,000), reflecting ongoing challenges in the market[26]. - The company reported a loss of HKD (1,712,000) for the nine months ended September 30, 2022, compared to a profit of HKD 9,452,000 in the same period of 2021[26]. - Total revenue for the nine months ended September 30, 2022, decreased by approximately 15.5% to HKD 243.6 million from HKD 288.2 million in the same period of 2021, primarily due to the impact of COVID-19 restrictions[52]. Government Support - The group received government subsidies of approximately HKD 11.2 million for the nine months ended September 30, 2022, compared to HKD 5.1 million in the same period of 2021[5]. - Government grants received amounted to HKD 11,244,000 for the nine months ended September 30, 2022, compared to HKD 5,125,000 in the same period of 2021, reflecting a significant increase[27]. Revenue Breakdown - Revenue from restaurant operations for the nine months ended September 30, 2022, was HKD 242,152,000, a decrease of 15.1% from HKD 285,362,000 in the same period of 2021[26]. - Revenue from Shanghai cuisine accounted for 31.9% of total revenue, while Japanese cuisine contributed 23.3%, and Thai cuisine represented 20.3% for the nine months ended September 30, 2022[55]. - Revenue from Shanghai-style restaurants decreased by approximately HKD 1.4 million or about 1.8% to approximately HKD 77.2 million for the nine months ended September 30, 2022[56]. - Revenue from Japanese restaurants decreased by approximately HKD 19.1 million or about 25.3% to approximately HKD 56.4 million for the nine months ended September 30, 2022[57]. - Revenue from Thai restaurants decreased by approximately HKD 9.2 million or about 15.8% to approximately HKD 49.1 million for the nine months ended September 30, 2022[58]. - Revenue from Vietnamese restaurants decreased by approximately HKD 9.0 million or about 22.8% to approximately HKD 30.5 million for the nine months ended September 30, 2022[59]. - Revenue from Italian restaurants decreased by approximately HKD 4.7 million or about 14.0% to approximately HKD 28.8 million for the nine months ended September 30, 2022[62]. Operating Expenses - Total operating expenses for the three months ended September 30, 2022, were HKD 13,058,000, up from HKD 10,275,000 in the same period of 2021, representing a 27.5% increase[31]. - Employee costs increased by approximately 7.0% to approximately HKD 96.8 million for the nine months ended September 30, 2022, compared to HKD 90.5 million for the same period in 2021[64]. - Cost of goods sold was approximately HKD 70.7 million and HKD 84.6 million for the nine months ended September 30, 2022, and 2021, respectively, accounting for about 29.2% and 29.6% of total revenue[63]. Future Plans and Strategy - The company continues to focus on expanding its restaurant operations and enhancing its consulting services in the hospitality sector[18]. - The company plans to open a new Japanese restaurant in December 2022 as part of its strategy to expand its restaurant network in Hong Kong[77]. - The company has signed a lease agreement for a property in Tsim Sha Tsui for a new Japanese restaurant under the brand name "權八," with a lease term of four years starting from January 20, 2023, and an option to extend for an additional two years[78]. - The company is considering upgrading some restaurants and introducing new concepts with lower capital expenditure and/or more favorable rental terms due to rising vacancy rates in shopping malls and changing consumer spending patterns[78]. - The company is actively engaging in discussions with several landlords regarding leasing units in shopping malls for restaurant operations, indicating a cautious approach to expansion plans[78]. - The future outlook is heavily dependent on the local COVID-19 situation and government policies regarding social distancing measures[44]. - The company plans to continue monitoring developments closely and will operate cautiously in expanding its business in China[51]. Shareholder Information - As of September 30, 2022, the company’s major shareholder, 蔡偉科, holds 274,350,000 shares, representing 71.45% of the total shares[92]. - Real Hero holds 274,350,000 shares, representing 71.45% of the company's total issued shares[104]. - The acquisition agreement involved the sale of 188,084,000 shares, accounting for approximately 48.98% of the total issued shares, for a total consideration of HKD 100,455,664.4, equivalent to HKD 0.5341 per share[104]. - Following the offer, Real Hero received valid acceptances for 86,266,000 shares, representing about 22.47% of the total issued shares[105]. - The company did not declare any dividends for the nine months ended September 30, 2022, consistent with the previous year[37]. - The company has no plans to declare dividends for the nine months ending September 30, 2022, consistent with the previous year[121]. Corporate Governance - The board of directors underwent changes on August 19, 2022, with several resignations and new appointments, reflecting a shift in the company's governance structure[86][87]. - The company has adopted corporate governance codes to ensure compliance and enhance shareholder value[114]. - The audit committee reviewed the financial results for the nine months ending September 30, 2022, confirming compliance with applicable accounting standards[118]. - The stock option plan approved on November 6, 2017, remains valid for ten years, with approximately five years remaining[111]. - No stock options have been granted under the stock option plan as of September 30, 2022[112]. - The third quarter earnings report is available on the Hong Kong Stock Exchange website and the company's website[126]. - The report is presented by the CEO and Executive Director, Guo Zhibo, along with other executive directors[126]. - The company is committed to transparency and providing detailed financial information to stakeholders[126].

Financial Performance - The group recorded unaudited revenue of approximately HKD 136.4 million for the six months ended June 30, 2022, a decrease of about 26.9% compared to HKD 186.6 million for the same period in 2021[5]. - The group reported an unaudited adjusted loss before tax of approximately HKD 15.8 million for the six months ended June 30, 2022, compared to an adjusted profit of HKD 4.7 million for the same period in 2021[5]. - The group recorded an unaudited loss attributable to owners of the company of approximately HKD 8.2 million for the six months ended June 30, 2022, compared to a profit of HKD 7.2 million in the same period of 2021[5]. - For the three months ended June 30, 2022, the group recorded unaudited revenue of approximately HKD 91.9 million, a decrease of 12.8% from HKD 105.4 million in the same period of 2021[5]. - The group reported an unaudited profit attributable to owners of the company of approximately HKD 6.7 million for the three months ended June 30, 2022, compared to HKD 7.4 million in the same period of 2021[5]. - The group’s operating profit for the six months ended June 30, 2022, was a loss of approximately HKD 7.0 million, compared to an operating profit of HKD 12.1 million for the same period in 2021[12]. - The basic and diluted earnings per share for the six months ended June 30, 2022, was a loss of HKD 2.14, compared to earnings of HKD 1.87 for the same period in 2021[12]. - The total comprehensive income for the six months ended June 30, 2022, was a loss of approximately HKD 8.87 million, compared to a profit of HKD 9.35 million for the same period in 2021[12]. - The company reported a net loss of HKD 8,233 million for the six months ended June 30, 2022, compared to a profit of HKD 7,175 million in the same period of 2021[23]. - The group reported a loss before tax of HKD 8,656,000 for the six months ended June 30, 2022, compared to a profit before tax of HKD 9,809,000 for the same period in 2021[39]. Revenue Breakdown - Total revenue for the six months ended June 30, 2022, was HKD 144,595,000, a decrease from HKD 197,741,000 for the same period in 2021, representing a decline of approximately 27%[39]. - Revenue from restaurant operations was HKD 135,490,000, while revenue from food management and consulting services was HKD 9,105,000, indicating a significant drop in both segments compared to the previous year[39]. - Revenue from the Shanghai-style restaurant decreased by approximately 19.9% to HKD 40.2 million from HKD 50.2 million for the same period in 2021[104]. - Revenue from the Japanese restaurant decreased by approximately 32.7% to HKD 33.7 million from HKD 50.1 million for the same period in 2021[105]. - Revenue from the Thai restaurant decreased by approximately 24.5% to HKD 27.5 million from HKD 36.4 million for the same period in 2021[106]. - Revenue from the Vietnamese restaurant decreased by approximately 32.8% to HKD 16.8 million from HKD 25.0 million for the same period in 2021[109]. - Revenue from the Italian restaurant decreased by approximately 25.1% to HKD 17.3 million from HKD 23.1 million for the same period in 2021[110]. Government Support - The group received government subsidies of approximately HKD 7.1 million for the six months ended June 30, 2022, compared to HKD 5.1 million in the same period of 2021[5]. - Government grants received increased significantly to HKD 7,080,000 for the six months ended June 30, 2022, compared to HKD 5,125,000 in the same period of 2021, reflecting a 38.2% increase[54]. Assets and Liabilities - Total assets decreased to HKD 177,169 million as of June 30, 2022, down from HKD 205,980 million at the end of 2021, representing a decline of approximately 13.9%[16]. - The company's total liabilities decreased to HKD 113,175 million from HKD 133,113 million, a decrease of about 15%[18]. - The company’s equity attributable to owners decreased to HKD 57,254 million from HKD 65,650 million, a decline of about 12.2%[16]. - The company’s inventory decreased slightly to HKD 2,181 million from HKD 2,394 million, a reduction of approximately 8.9%[16]. - The company’s bank borrowings decreased to HKD 2,960 million from HKD 5,832 million, a decrease of about 49%[18]. - Trade receivables increased to HKD 7,302 million from HKD 6,614 million, reflecting a rise of approximately 10.4%[16]. - The asset-to-liability ratio as of June 30, 2022, was approximately 16.5%, a decrease from 18.4% in 2021, attributed to the repayment of bank loans during the review period[131]. Operational Challenges - The restaurant operations in Hong Kong were heavily impacted by social distancing measures from January 7 to April 20, 2022[93]. - For the six months ended June 30, 2022, the group recorded a loss of approximately HKD 8.7 million, compared to a profit of approximately HKD 8.8 million for the same period in 2021, primarily due to a significant decrease in revenue caused by the fifth wave of COVID-19 and related government restrictions[123]. - The company plans to closely monitor the evolution of the COVID-19 pandemic, which significantly impacts future business prospects[94]. Future Plans and Strategies - The company is considering expansion plans for new restaurants in Hong Kong, with ongoing discussions with several landlords for leasing units in shopping malls, although no plans have been finalized as of the report date[150]. - The company aims to enhance sales, optimize staffing, and improve ingredient utilization to achieve its operational goals[171]. - The company is focused on developing its brand portfolio through various strategies, including improving existing brands and launching new ones[175]. - The company is considering upgrading some restaurants and opening new concepts with lower capital expenditure and favorable rental terms[176]. - The company is actively engaging in marketing activities to enhance brand recognition and customer engagement[171]. Shareholder Information - Real Hero Ventures Limited holds 188,084,000 shares, representing 48.98% of the company's issued share capital[187]. - The total consideration for the acquisition of 188,084,000 shares was HKD 100,455,664.4, equating to HKD 0.5341 per share[187]. - The mandatory conditional cash offer was made at HKD 0.5341 per share for all issued shares, excluding those already owned by Real Hero and its concert parties[187]. - The offer became unconditional on July 19, 2022, and was open for acceptance until August 17, 2022[188]. - No share options have been granted under the share option scheme as of June 30, 2022[191]. - The company did not purchase, sell, or redeem any of its listed securities during the six-month review period[192]. Compliance and Review - The audit committee reviewed the interim results for the six months ended June 30, 2022, and confirmed compliance with applicable accounting standards[198]. - The interim financial results for the six months ended June 30, 2022, were unaudited and not reviewed by the company's auditors[199].

Financial Performance - The group recorded unaudited revenue of approximately HKD 44.4 million for the three months ended March 31, 2022, a significant decrease of approximately 45.4% compared to HKD 81.3 million for the same period in 2021[5]. - The group reported an unaudited adjusted loss before tax and government subsidies of approximately HKD 19.4 million for the three months ended March 31, 2022, compared to a loss of HKD 4.5 million in 2021[5]. - The unaudited loss attributable to owners of the company was approximately HKD 14.9 million for the three months ended March 31, 2022, compared to a loss of HKD 0.3 million in 2021[5]. - The operating loss for the group was approximately HKD 16.3 million for the first quarter of 2022, compared to an operating profit of HKD 1.0 million in the same period of 2021[10]. - The loss before tax for the group was approximately HKD 17.2 million for the three months ended March 31, 2022, compared to a loss of HKD 0.044 million in 2021[10]. - The total comprehensive loss for the period was approximately HKD 17.1 million for the three months ended March 31, 2022, compared to a loss of HKD 0.106 million in 2021[13]. Revenue Breakdown - Total revenue from restaurants in Hong Kong for the three months ended March 31, 2022, was HKD 44.0 million, down from HKD 80.4 million in the same period of 2021[50]. - Revenue from Shanghai-style restaurants decreased by approximately 35.9% to HKD 14.3 million for the three months ended March 31, 2022, from HKD 22.3 million in the same period of 2021[53]. - Revenue from Japanese restaurants fell by approximately 49.8% to HKD 11.2 million for the three months ended March 31, 2022, from HKD 22.3 million in the same period of 2021[54]. - Revenue from Thai restaurants decreased by approximately 44.9% to HKD 8.1 million for the three months ended March 31, 2022, from HKD 14.7 million in the same period of 2021[55]. - Revenue from Vietnamese restaurants dropped by approximately 57.4% to HKD 4.6 million for the three months ended March 31, 2022, from HKD 10.8 million in the same period of 2021[56]. - Revenue from Italian restaurants decreased by approximately 44.2% to HKD 5.8 million for the three months ended March 31, 2022, from HKD 10.4 million in the same period of 2021[57]. Government Support - The group received government subsidies of approximately HKD 2.2 million in 2022, down from HKD 4.4 million in 2021[5]. - The loss was partially offset by government subsidies received during the review period, amounting to approximately HKD 2.2 million, compared to HKD 4.4 million in 2021[72]. Operational Challenges - The restaurant operations faced significant pressure due to COVID-19 restrictions, particularly from January 7 to February 23, 2022, when dine-in services were banned[41]. - The future outlook largely depends on the evolution of the COVID-19 pandemic, with the company closely monitoring developments[42]. Shareholder Information - As of March 31, 2022, major shareholders include Mr. Kai Wong with a beneficial interest of 75,268,800 shares (19.60%) and Mr. Chi Po Kwok with 16,406,400 shares (4.27%)[80]. - The company reported a total of 75,268,800 shares held by Guan Huiling, representing 19.60% ownership[88]. - 1957 Co. holds 96,408,800 shares, accounting for 25.11% of the total shares[88]. - Sino Explorer Limited has 73,728,800 shares, which is 19.20% of the total shares[88]. Future Plans - The group aims to expand its restaurant network by developing its own brand restaurants and diversifying existing brands into sub-brands and/or premium brands[75]. - A new restaurant named "Home Shanghai" offering Huaiyang and Shanghai cuisine will be opened in Tseung Kwan O East, with a lease agreement effective from April 19, 2022, for a term of four years[75]. - The company is in advanced discussions with several landlords regarding leasing units for restaurant operations, considering upgrading existing restaurants and opening new concepts with lower capital expenditure[75]. - The company will continue to review the operations and performance of existing restaurants and develop appropriate strategies to maximize returns for investors[76]. Corporate Governance - The company is committed to maintaining high standards of corporate governance to protect shareholder interests[98]. - The audit committee reviewed the financial results for the first quarter ending March 31, 2022, and found them to be in compliance with applicable accounting standards[102]. Miscellaneous - The company did not recommend any dividends for the three months ending March 31, 2022[105]. - There were no significant acquisitions or disposals of subsidiaries or associates during the three months ending March 31, 2022[106]. - The company has not granted any share options under the share option scheme as of March 31, 2022[95]. - No significant events requiring disclosure occurred after March 31, 2022, up to the report date[104].

Financial Performance - The total revenue for 2021 was HKD 394,185,000, an increase of 23% compared to HKD 320,452,000 in 2020[40] - The pre-tax profit for 2021 was HKD 22,737,000, recovering from a loss of HKD 19,280,000 in 2020[40] - The net profit attributable to the owners of the company for 2021 was HKD 13,165,000, compared to a loss of HKD 12,909,000 in 2020[40] - The total equity increased to HKD 72,867,000 in 2021 from HKD 56,374,000 in 2020, marking a growth of approximately 29%[40] - The company's capital debt ratio as of December 31, 2021, was approximately 18.4%, a decrease from 33.8% in 2020, primarily due to the repayment of bank loans and an increase in total equity from operating activities[144] - The company recorded a profit of approximately HKD 18.9 million for the year ended December 31, 2021, compared to a loss of HKD 17.7 million in 2020, driven by an increase in revenue of about HKD 73.7 million due to improved pandemic conditions[97] Assets and Liabilities - Total assets decreased to HKD 205,980,000 in 2021 from HKD 221,629,000 in 2020, reflecting a decline of approximately 7%[40] - Total liabilities decreased to HKD 133,113,000 in 2021 from HKD 165,255,000 in 2020, a reduction of about 19%[40] - As of December 31, 2021, the total bank borrowings were approximately HKD 5.8 million, down from HKD 11.4 million in 2020, with interest rates ranging from 2.7% to 3.5%[141] Restaurant Operations - The group operated twelve restaurants in Hong Kong, including seven under its own brand and five under franchise or sub-licensing arrangements[51] - The group did not open any new restaurants in Hong Kong during the year, but has signed three lease agreements for existing restaurants[53] - The group plans to cautiously explore opportunities for opening new restaurants with lower capital expenditure and more favorable rental terms[54] - The group aims to continue developing its brand portfolio and expanding its restaurant network through various strategies, including improving existing brands and launching new ones[51] - The group plans to continue opening new restaurants in Hong Kong and may invest up to 25% in holding companies of new restaurants in China[72] Revenue Breakdown - Revenue from the Shanghai-style restaurant increased by approximately 35.4% to about HKD 113.7 million for the year ended December 31, 2021, up from approximately HKD 84.0 million in the previous year[77] - Revenue from the Japanese restaurant rose by approximately 22.8% to about HKD 100.2 million for the year ended December 31, 2021, compared to approximately HKD 81.6 million in 2020[80] - Revenue from the Thai restaurant increased by approximately 30.1% to about HKD 79.5 million for the year ended December 31, 2021, up from approximately HKD 61.1 million in the previous year[81] Economic Environment - The economic environment in Hong Kong showed signs of recovery in 2021, with lower COVID-19 case numbers and relaxed dining restrictions contributing to improved revenue[47] - Future prospects are heavily dependent on the evolution of the COVID-19 pandemic, and the group will continue to monitor developments closely[66] - The company maintained a cautious approach in response to ongoing economic challenges and the impact of the pandemic[46] Employee and Operational Costs - Employee costs rose by approximately 14.3% to about HKD 126.5 million for the year ended December 31, 2021, due to increased labor needs and bonus provisions[85] - Rental expenses for the year ended December 31, 2021, were approximately HKD 8.0 million, an increase of about 2.6% from HKD 7.8 million in 2020, primarily due to increased revenue from Shanghai-style restaurants[92] - The cost of goods sold increased to approximately HKD 115.5 million for the year ended December 31, 2021, representing about 29.4% of total revenue from operating restaurants[84] Strategic Focus and Future Plans - The company is focused on monitoring restaurant performance and implementing strategies to balance financial improvement with providing quality dining experiences[97] - The company is actively considering expansion plans, including opening new restaurants in Hong Kong and China, with ongoing negotiations for leasing several units in shopping malls[107] - The company aims to strengthen existing business development and provide stable returns and growth prospects for shareholders[166] Corporate Governance and Management - The company has a strong commitment to corporate governance, with independent non-executive directors overseeing audit and remuneration committees[180] - The company has a strong management team with over 15 years of experience in financial management and over 20 years in marketing and public relations[198][199] Miscellaneous - The company has not proposed any final dividends for the year ended December 31, 2021, consistent with 2020[151] - The company has not engaged in any significant litigation or arbitration as of December 31, 2021[161] - The company has not issued any stock options under its stock option plan adopted on November 6, 2017[160]

1957 & Co. (Hospitality) Limited (Incorporated in the Cayman Islands with limited liability) Stock Code: 8495 ird Quarterly Report 2021 1957 & Co. (Hospitality) Limited （在開曼群島註冊成立之有限公司） 股份代號：8495 第三季度業績報告 2021 TA KE 价 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。 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 ...