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].
1957 & CO.(08495) - 2023 Q3 - 季度财报