[HK]高门集团:截至2021年11月30日止六个月中期业绩公告

时间:2022年01月14日 22:51:58 中财网
原标题:高门集团:截至2021年11月30日止六个月中期业绩公告


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公告全部或任何
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。


BCI Group Holdings Limited
高門集團有限公司
(於開曼群島註冊成立的有限公司)
(股份代號:8412)


截至2021年11月30日止六個月
中期業績公告

高門集團有限公司(「本公司」連同其附屬公司統稱「本集團」)董事(「董事」)會(「董事
會」)謹此宣布本集團截至2021年11月30日止六個月的未經審核中期業績。本公告
列載本公司2021年中期報告全文,乃符合香港聯合交易所有限公司GEM證券上市
規則(「GEM上市規則」)中有關中期業績初步公告之資料的相關要求。


承董事會命

高門集團有限公司

董事會主席及行政總裁

王志勇

香港,2022年1月14日

於本公告日期,執行董事為王志勇先生及吳承浚先生;獨立非執行董事為許維雄
先生、蔣喬蔚先生及龐振宇先生。


本公告乃根據GEM上市規則而刊載,旨在提供有關本公司的資料。董事願就本公
告的資料共同及個別地承擔全部責任。董事在作出一切合理查詢後,確認就彼等
所知及所信,本公告所載資料在各重要方面均屬準確完整,沒有誤導或欺詐成份,
且並無遺漏任何事項,足以令致本公告或其所載任何陳述產生誤導。


本公告將由刊登日期起計最少一連七日於GEM網站www.hkgem.hk之「最新公司公告」
網頁刊載。本公告亦將於本公司網站www.bcigroup.com.hk刊載。




CHARACTERISTICS OF GEM OF THE
STOCK EXCHANGE OF HONG KONG
LIMITED (“STOCK EXCHANGE”)

GEM has been positioned as a market
designed to accommodate small and mid-sized
companies to which a higher investment risk
may be attached than other companies listed
on the Stock Exchange. Prospective investors
should be aware of the potential risks of
investing in such companies and should
make the decision to invest only after due and
careful consideration.

Given that the companies listed on GEM are
generally small and mid-sized companies,
there is a risk that securities traded on GEM
may be more susceptible to high market
volatility than securities traded on the
Main Board of the Stock Exchange and no
assurance is given that there will be a liquid
market in the securities traded on GEM.

Hong Kong Exchanges and Clearing Limited and
the Stock Exchange take no responsibility for the
contents of this report, make no representation
as to its accuracy or completeness and expressly
disclaim any liability whatsoever for any loss
howsoever arising from or in reliance upon the
whole or any part of the contents of this report.

香港聯合交易所有限公司
(「聯交所」)GEM的特色

GEM的定位乃為相較其他在聯交
所上市的公司帶有更高投資風險
的中小型公司提供上市的市場。有
意投資者應了解投資於該等公司
的潛在風險,並應經過審慎周詳考
慮後方作出投資決定。


由於GEM上市公司一般為中小型
公司,在GEM買賣的證券可能會較
在聯交所主板買賣的證券承受更
大的市場波動風險,同時亦無法保
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
全部或任何部分內容而產生或因
依賴該等內容而引致的任何損失
承擔任何責任。




This report, for which the directors (“Directors”)
of BCI Group Holdings Limited (“Company”
together with its subsidiaries collectively
referred to as the “Group”) collectively and
individually accept full responsibility, includes
particulars given in compliance with the Rules
Governing the Listing of Securities on GEM of
the Stock Exchange (“GEM Listing Rules”) for
the purpose of giving information with regard to
the Company. The Directors, having made all
reasonable enquiries, confirm that, to the best
of their knowledge and belief the information
contained in this report is accurate and complete
in all material respects and not misleading or
deceptive, and there are no other matters the
omission of which would make any statement
herein or this report misleading.

The board of Directors (“Board”) is pleased to
announce the unaudited condensed consolidated
financial statements of the Group for the six
months ended 30 November 2021, together
with the unaudited comparative figures for the
corresponding period in 2020 as set out below.
Unless otherwise specified, terms used herein
shall have the same meanings as those defined
in the Company’s prospectus dated 24 March
2017 (“Prospectus”).

本報告的資料乃根據聯交所GEM
證券上市規則(「GEM上市規則」)而
刊載,旨在提供有關高門集團有限
公司(「本公司」,連同其附屬公司,
統稱「本集團」)的資料。本公司董
事(「董事」)願就本報告共同及個別
承擔全部責任。董事在作出一切合
理查詢後確認,就彼等所深知及確
信,本報告所載資料於所有重大方
面均屬準確完整,並無誤導或欺詐
成份,且並無遺漏任何其他事宜致
使本報告內任何陳述或本報告產
生誤導。


董事會(「董事會」)欣然公布本集團
截至2021年11月30日止六個月的
未經審核簡明綜合財務報表,連同
2020年同期的未經審核比較數字
載列如下。除另有指明者外,本報
告所用詞彙與本公司日期為2017
年3月24日的招股章程(「招股章程」)
所界定者具有相同涵義。




Financial Highlights

財務摘要. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4

Corporate Information

公司資料. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5

Unaudited Condensed Consolidated Statement of Comprehensive Income

未經審核簡明綜合全面收益表 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7

Unaudited Condensed Consolidated Statement of Financial Position

未經審核簡明綜合財務狀況表 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

8

Unaudited Condensed Consolidated Statement of Changes in Equity

未經審核簡明綜合權益變動表 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10

Unaudited Condensed Consolidated Cash Flow Statement

未經審核簡明綜合現金流量表 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

11

Notes to the Unaudited Condensed Consolidated Financial Statements

未經審核簡明綜合財務報表附註 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12

Management Discussion and Analysis

管理層討論及分析. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

33

Disclosure of Additional Information

其他資料披露. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

54







The Group’s revenue for the six months ended
30 November 2021 was approximately HK$33.5
million, representing a increase of approximately
181.7% when compared with that of the
corresponding period in 2020.

The Group recorded a loss for the six months
ended 30 November 2021 of approximately
HK$4.6 million, while there was a loss of
approximately HK$4.2 million for the six months
ended 30 November 2020.

The Board did not recommend payment of any
dividend for the six months ended 30 November
2021.

本集團截至2021年11月30日止六
個月的收益為約33.5百萬港元,較
2020年同期的收益增加約181.7%。


本集團截至2021年11月30日止六
個月錄得虧損約4.6百萬港元,而
截至2020年11月30日止六個月則
錄得虧損總額約4.2百萬港元。


董事會並不建議派付截至2021年
11月30日止六個月的任何股息。




DIRECTORS

Executive Directors:

Mr. Wong Chi Yung
(Chairman and chief executive officer)

Mr. Ng Shing Chun Ray

Independent Non-executive Directors:

Mr. Hui Wai Hung

Mr. Jiang Qiaowei

Mr. Pong Chun Yu

AUDIT COMMITTEE

Mr. Pong Chun Yu (Chairman)

Mr. Hui Wai Hung

Mr. Jiang Qiaowei

REMUNERATION COMMITTEE

Mr. Pong Chun Yu (Chairman)

Mr. Hui Wai Hung

Mr. Jiang Qiaowei

NOMINATION COMMITTEE

Mr. Jiang Qiaowei (Chairman)

Mr. Hui Wai Hung

Mr. Pong Chun Yu

COMPANY SECRETARY

Ms. Sun Shui

COMPLIANCE OFFICER

Mr. Wong Chi Yung

AUTHORISED REPRESENTATIVES

Mr. Ng Shing Chun Ray

Ms. Sun Shui

REGISTERED OFFICE

Windward 3, Regatta Office Park

P.O. Box 1350

Grand Cayman KY1-1108

Cayman Islands

董事

執行董事:

王志勇先生
(主席兼行政總裁)

吳承浚先生

獨立非執行董事:

許維雄先生

蔣喬蔚先生

龐振宇先生

審核委員會

龐振宇先生(主席)

許維雄先生

蔣喬蔚先生

薪酬委員會

龐振宇先生(主席)

許維雄先生

蔣喬蔚先生

提名委員會

蔣喬蔚先生(主席)

許維雄先生

龐振宇先生

公司秘書

孫瑞女士

合規主任

王志勇先生

授權代表

吳承浚先生

孫瑞女士

註冊辦事處

Windward 3, Regatta Office Park

P.O. Box 1350

Grand Cayman KY1-1108

Cayman Islands



HEAD OFFICE AND PRINCIPAL
PLACE OF BUSINESS IN HONG
KONG

Floor 14, Bupa Centre

141 Connaught Road West

Sai Ying Pun

Hong Kong

PRINCIPAL SHARE REGISTRAR AND
TRANSFER OFFICE IN THE CAYMAN
ISLANDS

Ocorian Trust (Cayman) Limited

Windward 3, Regatta Office Park

P.O. Box 1350

Grand Cayman KY1-1108

Cayman Islands

BRANCH SHARE REGISTRAR AND
TRANSFER OFFICE IN HONG KONG

Boardroom Share Registrars (HK) Limited

Room 2103B, 21/F

148 Electric Road, North Point

Hong Kong

PRINCIPAL BANKER

The Hong Kong and Shanghai Banking

Corporation Limited

1 Queen’s Road Central

Hong Kong

AUDITORS

BDO Limited

Certified Public Accountants

25th Floor Wing On Centre

111 Connaught Road Central

Hong Kong

STOCK CODE

8412

COMPANY’S WEBSITE

www.bcigroup.com.hk

香港總辦事處及主要營業
地點

香港

西營盤

干諾道西141號

保柏中心14樓

開曼群島股份過戶登記總


Ocorian Trust (Cayman) Limited

Windward 3, Regatta Office Park

P.O. Box 1350

Grand Cayman KY1-1108

Cayman Islands

香港股份過戶登記分處

寶德隆證券登記有限公司

香港

北角電氣道148號

21樓2103B室

主要往來銀行

香港上海滙豐銀行有限公司

香港

皇后大道中1號

核數師

香港立信德豪會計師事務所有限公司

執業會計師

香港

干諾道中111號

永安中心25樓

股份代號

8412

公司網站

www.bcigroup.com.hk



For the three months ended

For the six months ended

截至以下日期止三個月

截至以下日期止六個月

30 November
2021

30 November
2020

30 November
2021

30 November
2020

11月30日

2021年

11月30日

2020年

11月30日

2021年

11月30日

2020年

Notes

HK$’000

HK$’000

HK$’000

HK$’000

附註

千港元

千港元

千港元

千港元

(unaudited)

(unaudited)

(unaudited)

(unaudited)

(未經審核)

(未經審核)

(未經審核)

(未經審核)

Revenue

收益

2

15,709

6,514

33,529

11,903

Cost of inventories sold

已售存貨成本

(3,602)

(1,332)

(8,449)

(2,705)

Other income and gains

其他收入及收益

231

3,477

506

12,170

Expense related to short term lease

短期租賃相關開支



(413)



(743)

Advertising and marketing expenses

廣告及市場推廣開支

(2,443)

(804)

(5,644)

(1,373)

Employee benefits expenses

僱員福利開支

(3,988)

(3,102)

(7,820)

(5,653)

Depreciation of property, plant and
equipment

物業、廠房及
設備折舊

(1,314)

(897)

(2,138)

(1,837)

Depreciation of right-of-use assets

使用權資產折舊

(1,773)

(5,777)

(3,548)

(10,535)

Other expenses

其他開支

(4,719)

(3,033)

(10,395)

(5,167)

Written off of trade and other receivables

貿易及其他應收款項
的撇銷

3



(50)



(Loss)/reversal of loss allowance on trade
and other receivables

貿易及其他應收款項
(虧損)╱虧損撥備
撥回

(41)

(503)

(15)

509

Finance cost

融資成本

3

(239)

(372)

(587)

(789)















Loss before income tax
expense

除所得稅開支前
虧損

(2,676)

(6,242)

(4,608)

(4,220)

Income tax expense

所得稅開支

4























Loss and total comprehensive income for
the period

期內虧損及全面
收益總額

(2,676)

(6,242)

(4,608)

(4,220)















Loss and total comprehensive
income for the period attributable to:

以下人士應佔期內
虧損及全面收益
總額:

– Owners of the Company

-本公司擁有人

(2,642)

(6,210)

(4,620)

(4,094)

– Non-controlling interests

-非控股權益

(34)

(32)

12

(126)















(2,676)

(6,242)

(4,608)

(4,220)















Loss per share attributable to
owners of the Company

本公司擁有人應佔
每股虧損

– Basic and diluted (HK cents)

-基本及攤薄(港仙)

6

(0.26)

(0.65)

(0.46)

(0.46)





















As at



30 November

2021

31 May

2021

11月30日

5月31日

2021年

2021年

Notes

HK$’000

HK$’000

附註

千港元

千港元

(unaudited)

(audited)

(未經審核)

(經審核)

Non-current assets

非流動資產

Property, plant and
equipment

物業、廠房及設備

7

9,236

9,879

Right-of-use assets

使用權資產

7

11,816

15,360

Deposits

按金

3,283

3,042











24,335

28,281

Current assets

流動資產

Inventories

存貨

9

4,745

545

Trade and other
receivables

貿易及其他應收
款項

8

6,609

15,489

Cash and cash equivalents

現金及現金等價物

10

3,449

2,504

Restricted bank deposits

受限制銀行存款

11



17,860











14,803

36,398

Current liabilities

流動負債

Trade and other payables

貿易及其他應付
款項

12

12,336

17,508

Amount due to a related
company

應付關聯公司款項



134

Contract liabilities

合約負債

765

586

Bank borrowings

銀行借款

14



17,858

Amount due to a director

應付董事款項

269

456

Amounts due to
non-controlling
shareholders

應付非控股股東
款項

13

2,700

2,720

Loan from an
ex-shareholder/a
shareholder

來自一名前股東╱
股東之貸款

10,334

9,261

Lease liabilities

租賃負債

11,083

9,695











37,487

58,218

















As at



30 November

2021

31 May

2021

11月30日

5月31日

2021年

2021年

Notes

HK$’000

HK$’000

附註

千港元

千港元

(unaudited)

(audited)

(未經審核)

(經審核)

Net current liabilities

流動負債淨額

(22,684)

(21,820)











Total assets less current
liabilities

資產總額減流動
負債

1,651

6,461











Non-current liabilities

非流動負債

Other payables

其他應付款項

12

1,230

1,230

Lease liabilities

租賃負債

10,424

16,226











11,654

17,456

Net liabilities

負債淨額

(10,003)

(10,995)











Equity

權益

Share capital

股本

15

9,988

9,988

Reserves

儲備

(15,797)

(13,401)











Equity attributable
to owners of the
Company

本公司擁有人應佔
權益

(5,809)

(3,413)

Non-controlling interests

非控股權益

(4,194)

(7,582)











Total deficiency in assets

資產虧絀總額

(10,003)

(10,995)

















Attributable to owners of the Company

本公司擁有人應佔

Share

capital

Share

premium

Accumulated

loss

Share

option

reserve

Other

reserve

Total

Non-

controlling

interests

Total

股本

股份溢價

累計虧損

購股權儲備

其他儲備

總計

非控股權益

總計

HK$’000

HK$’000

HK$’000

HK$’000

HK$’000

HK$’000

HK$’000

HK$’000

千港元

千港元

千港元

千港元

千港元

千港元

千港元

千港元

Balance at 1 June 2020
(audited)

於2020年6月1日的
結餘(經審核)

8,000

56,525

(84,413)





(19,888)

(2,569)

(22,457)

Issuance of ordinary share

發行普通股

1,600

18,734







20,334



20,334

Loss and total comprehensive
income for the period

虧損及全面收益總額





(4,094)





(4,094)

(126)

(4,220)





















Balance at 30 November 2020
(unaudited)

於2020年11月30日的
結餘(未經審核)

9,600

75,259

(88,507)





(3,648)

(2,695)

(6,343)





















Balance at 1 June 2021
(audited)

於2021年6月1日的
結餘(經審核)

9,988

98,650

(121,286)

6,835

2,400

(3,413)

(7,582)

(10,995)

Partial disposal of a subsidiary

部分出售附屬公司









2,224

2,224

3,376

5,600

Loss and total comprehensive income
for the period

期內虧損及全面收益
總額





(4,620)





(4,620)

12

(4,608)





















Balance at 30 November 2021
(unaudited)

於2021年11月30日的
結餘(未經審核)

9,988

98,650

(125,906)

6,835

4,624

(5,809)

(4,194)

(10,003)



























For the six months ended

截至以下日期止六個月

30 November
2021

30 November
2020

11月30日

11月30日

2021年

2020年

HK$’000

HK$’000

千港元

千港元

(unaudited)

(unaudited)

(未經審核)

(未經審核)

Net cash generated from/
(used in) operating activities

經營活動所得╱(所用)
現金淨額

878

(10,604)

Net cash used in investing
activities

投資活動所用現金
淨額

(1,496)

(15)

Net cash generated from
financing activities

融資活動所得現金
淨額

1,563

8,072









Net increase/(decrease) in
cash and cash equivalents

現金及現金等價物
增加╱(減少)淨額

945

(2,547)

Cash and cash equivalents
at beginning of the period

期初現金及現金等
價物

2,504

6,424









Cash and cash equivalents
at end of the period

期末現金及現金等
價物

3,449

3,877















1) GENERAL INFORMATION,
BASIS OF PREPARATION AND
ACCOUNTING POLICIES

The Company was incorporated in
the Cayman Islands as an exempted
company with limited liability under
the Companies Law (as revised) of the
Cayman Islands on 19 May 2016 and its
registered office is located at Windward
3, Regatta Office Park, P.O. Box 1350,
Grand Cayman KY1-1108, Cayman
Islands. Its principal place of business in
Hong Kong is located at 14th Floor, Bupa
Centre, 141 Connaught Road West, Sai
Ying Pun, Hong Kong. The shares of the
Company (“Shares”) were listed on GEM
of the Stock Exchange by way of share
offer since 7 April 2017.

On 7 April 2017 (“Listing Date”), a total
of 200,000,000 Shares of HK$0.01 each
were offered under the share offer, of
which 100,000,000 Shares, representing
50% of the total Offer Shares, were
offered by way of placing. The remaining
100,000,000 Shares, representing 50% of
the total Offer Shares, were offered under
the public offer.

The Company is an investment holding
company. The subsidiaries of the
Company are principally engaged in the
operation of clubbing, entertainment and
restaurant business in Hong Kong.

1) 一般資料、編製基準
及會計政策

本公司於2016年5月19日根
據開曼群島公司法(經修訂)
在開曼群島註冊成立為獲
豁免有限公司,其註冊辦事
處位於Windward 3, Regatta
Office Park, P.O. Box 1350,
Grand Cayman KY1-1108,
Cayman Islands。其香港主
要營業地點位於香港西營
盤干諾道西141號保柏中心
14樓。本公司股份(「股份」)
自2017年4月7日起以股份
發售方式於聯交所GEM上
市。


於2017年4月7日(「上市日
期」),本公司根據股份發售
合共提呈發售200,000,000
股每股面值0.01港元的股
份,其中100,000,000股股份
(佔發售股份總數的50%)以
配售方式提呈發售,而餘下
的100,000,000股股份(佔發
售股份總數的50%)則以公
開發售方式提呈發售。


本公司為一間投資控股公
司。本公司的附屬公司主要
於香港經營會所、娛樂及餐
廳業務。




1) GENERAL INFORMATION,
BASIS OF PREPARATION
AND ACCOUNTING POLICIES
(CONT’D)

The unaudited condensed consolidated
financial statements for the six months
ended 30 November 2021 have been
prepared in accordance with Hong
Kong Financial Reporting Standards
(“HKFRSs”) (which include all Hong Kong
Financial Reporting Standards, Hong
Kong Accounting Standards (“HKASs”)
and interpretations) issued by the
Hong Kong Institute of Certified Public
Accountants (“HKICPA”), accounting
principles generally accepted in Hong
Kong and applicable disclosures by the
GEM Listing Rules and the Companies
Ordinance in Hong Kong.

The unaudited condensed consolidated
financial statements for the six months
ended 30 November 2021 have been
prepared under the historical cost basis.

The unaudited condensed consolidated
financial statements for the six months
ended 30 November 2021 are presented
in Hong Kong Dollars (“HK$”), which is
the same as the functional currency of
the Group, and all values are rounded to
nearest thousand’s (“HK$’000”), except
when otherwise indicated.

1) 一般資料、編製基準
及會計政策(續)

截至2021年11月30日止六
個月的未經審核簡明綜合
財務報表乃根據香港會計
師公會(「香港會計師公會」)
頒佈的香港財務報告準則
(「香港財務報告準則」,包
括所有香港財務報告準則、
香港會計準則(「香港會計準
則」)及詮釋)、香港公認會
計原則以及GEM上市規則
及香港公司條例的適用披
露規定編製。


截至2021年11月30日止六
個月的未經審核簡明綜合
財務報表乃按歷史成本基
準編製。


截至2021年11月30日止六
個月的未經審核簡明綜合
財務報表乃以與本集團的
功能貨幣相同的港元(「港
元」)呈列,除另有指明者
外,所有數值均約整至最接
近的千位數(「千港元」)。




1) GENERAL INFORMATION,
BASIS OF PREPARATION
AND ACCOUNTING POLICIES
(CONT’D)

The principal accounting policies used
in the preparation of the unaudited
condensed consolidated financial
statements for the six months ended
30 November 2021 are consistent with
those applied in the Company’s annual
report for the year ended 31 May 2021,
except for the adoption of new and
amendments to HKFRSs that affect the
Group and has adopted the first time for
the current period’s unaudited condensed
consolidated financial statements.

Adoption of the going concern basis

When preparing the unaudited condensed
consolidated interim results, the Group’s
ability to continue as a going concern
has been assessed. These unaudited
condensed consolidated interim results
have been prepared by the Directors on
a going concern basis notwithstanding
that the Group had net liabilities of
approximately HK$10,003,000 as at
30 November 2021 as the Directors
considered that:

(i) As at 30 November 2021, the
Group had a revolving loan facility
granted by an ex-shareholder for
an amount HK$25,000,000. The
Group will utilise this facility to
support its liquidity needs.

1) 一般資料、編製基準
及會計政策(續)

編製截至2021年11月30日
止六個月的未經審核簡明
綜合財務報表所採用的主
要會計政策與本公司截至
2021年5月31日止年度的年
報所應用者貫徹一致,惟採
納影響本集團且於本期間
未經審核簡明綜合財務報
表首次採納的新訂香港財
務報告準則及香港財務報
告準則修訂本則除外。


採用持續經營基準

於編製未經審核簡明綜合
中期業績時,已評估本集團
持續經營的能力。儘管本集
團於2021年11月30日有負
債淨額約10,003,000港元,
惟該等未經審核簡明綜合
中期業績由董事按持續經
營基準編製,此乃由於董事
認為:

(i) 於2021年11月30日,
本集團有前股東授出
的一筆循環貸款融資
25,000,000港元。本
集團將動用該融資以
支持其流動資金需求。




1) GENERAL INFORMATION,
BASIS OF PREPARATION
AND ACCOUNTING POLICIES
(CONT’D)

Adoption of the going concern basis
(Cont’d)

(ii) In August 2021, the Group entered
into a loan facility agreement with
a licensed money lender in Hong
Kong for an amount of HK$25
million for 18 months (“Loan
Facility”) and pursuant to the
terms of the Loan Facility, funds
are exclusively for the Company
and made available upon its
request;

(iii) The Directors will strengthen to
implement measures aiming at
improving the working capital and
cash flows of the Group, including
closely monitor the general
administrative expenses and
operating costs; and

(iv) The different possible outcomes
of the COVID-19 pandemic and its
impact to the cash flow forecast.

1) 一般資料、編製基準
及會計政策(續)

採用持續經營基準(續)

(ii) 於2021年8月,本集
團與香港的一間持
牌放債人訂立貸款
融資協議,貸款融資
金額為25百萬港元,
期限為18個月(「貸款
融資」)。根據貸款融
資,相關資金由本公
司專有,可應其要求
獲取;

(iii) 董事將抓緊實施各
種措施,以改善本集
團的營運資本及現
金流量,包括緊密監
督一般行政開支及
營運成本;及

(iv) 2019冠狀病毒病疫情
可能帶來的不同結果
及其對現金流量預測
的影響。




1) GENERAL INFORMATION,
BASIS OF PREPARATION
AND ACCOUNTING POLICIES
(CONT’D)

Adoption of the going concern basis
(Cont’d)

After taking into consideration of
above factors and funds expected to
be generated internally based on the
Directors’ estimation on future cash flow
of the Group, the Directors are satisfied
that the Group will have sufficient financial
resources to meet its financial obligations
as they fall due in the foreseeable future
and consider that it is appropriate for
the unaudited condensed consolidated
interim results to be prepared on a
going concern basis since there are no
material uncertainties related to events or
conditions that may cast significant doubt
upon the Group’s ability to continue as a
going concern.

The Group has not adopted or
early adopted the new and revised
HKFRSs (including their consequential
amendments) which are relevant to the
Group that have been issued but are not
yet effective in the preparation of these
unaudited condensed consolidated
results.

The unaudited condensed consolidated
financial statements have not been
audited by the Company’s auditor, but
have been reviewed by the Company’s
audit committee.

1) 一般資料、編製基準
及會計政策(續)

採用持續經營基準(續)

經計及上述因素後及根據
董事對本集團未來現金流
量的估計預期將產生的內
部資金,董事信納本集團將
擁有充足的財務資源,可在
其金融負債於可預見未來
到期時償還,並認為未經審
核簡明綜合中期業績按持
續經營基準編製屬恰當,因
為並無有關可能對本集團
持續經營能力構成重大疑
問之事件或情況之重大不
明朗因素。


編製此等未經審核簡明綜
合業績時,本集團並無採納
或提早採納與本集團有關
的已頒佈但尚未生效的新
訂及經修訂香港財務報告
準則(包括其相應修訂)。


未經審核簡明綜合財務報
表尚未經本公司核數師審
核,惟已由本公司審核委員
會審閱。




2) REVENUE

The Group’s principal activities are the
operations of clubbing, entertainment and
restaurant business in Hong Kong.

Revenue represents the amount received
or receivable from (a) the clubbing
and entertainment operations when (i)
the customer takes possession of and
accepts the products; (ii) services when
the customer simultaneously receives and
consumes the benefits provided by the
Group or other products were delivered
(including tips, cloakroom fees and
service income from an entertainment
studio) to its customers; (b) the restaurant
operations when the customer takes
possession of and accepts the food and
beverage products; and (c) entertainment
income is recognized overtime when
services transferred to the customers.
Payment of the transaction price is due
immediately when services are provided
to customers.

The Group’s customer base is diversified
and no individual customer had
transactions which exceeded 10% of the
Group’s revenue during the period under
review.

2) 收益

本集團的主要業務為於香
港經營會所、娛樂及餐廳業
務。


收益指(a)會所及娛樂營運
於(i)客戶持有並驗收產品;
及(ii)客戶同時接獲服務並
消費本集團提供的利益或
交付其他產品予其客戶時
的已收或應收款項(包括小
費、衣帽間費用及娛樂中心
服務收入);(b)於客戶持有
並驗收食品及飲品時的餐
廳營運已收或應收款項;及
(c)當服務轉讓予客戶時,
娛樂收入隨時間確認的已
收或應收款項。交易價格的
款項應於服務提供予客戶
時立即支付。


本集團擁有多元化的客戶
基礎,於回顧期內概無個別
客戶的交易超過本集團收
益的10%。




2) REVENUE (CONT’D)

Revenue from the Group’s principal
activities during the period under review
is as follows:

For the three months ended

For the six months ended

30 November

30 November

截至11月30日止三個月

截至11月30日止六個月

2021

2020

2021

2020

2021年

2020年

2021年

2020年

HK$’000

HK$’000

HK$’000

HK$’000

千港元

千港元

千港元

千港元

(unaudited)

(unaudited)

(unaudited)

(unaudited)

(未經審核)

(未經審核)

(未經審核)

(未經審核)

Revenue from:

以下項目的收益:

Clubbing and entertainment
operation

會所及娛樂營運

Sales of food and beverage

食品及飲品銷售

13,876

3,889

30,033

7,212

Entrance fees

入場費

39

34

70

34

Entertainment income

娛樂收入

1,089

1,166

2,132

2,117

Sponsorship income

贊助收入





3

1

Others

其他

705

84

1,291

206













15,709

5,173

33,529

9,570



Restaurant operation

餐廳營運

Sales of food and beverage

食品及飲品銷售



1,341



2,332

Others

其他







1















1,341



2,333



Total revenue

總收益

15,709

6,514

33,529

11,903

















2) 收益(續)

本集團於回顧期內的主要
業務收益如下:



3) FINANCE COSTS

For the three months ended

For the six months ended

30 November

30 November

截至11月30日止三個月

截至11月30日止六個月

2021

2020

2021

2020

2021年

2020年

2021年

2020年

HK$’000

HK$’000

HK$’000

HK$’000

千港元

千港元

千港元

千港元

(unaudited)

(unaudited)

(unaudited)

(unaudited)

(未經審核)

(未經審核)

(未經審核)

(未經審核)

Interest on bank borrowings

銀行借款利息



69



139

Interest on lease liabilities

租賃負債利息

171

247

358

444

Interest on loan from a
shareholder

股東貸款利息

68

16

229

166

Interest on loan from a
financial institution

金融機構貸款利息



40



40













Finance costs

融資成本

239

372

587

789

















4) INCOME TAX EXPENSE

The Group is subject to income tax
on profits arising in or derived from
Hong Kong, being its principal place
of business. The income tax credit in
the unaudited condensed consolidated
statement of comprehensive income
during the period under review
represents:

For the three months ended

For the six months ended

30 November

30 November

截至11月30日止三個月

截至11月30日止六個月

2021

2020

2021

2020

2021年

2020年

2021年

2020年

HK$’000

HK$’000

HK$’000

HK$’000

千港元

千港元

千港元

千港元

(unaudited)

(unaudited)

(unaudited)

(unaudited)

(未經審核)

(未經審核)

(未經審核)

(未經審核)

Current tax:

即期稅項:

– Hong Kong Profits Tax

-香港利得稅

























3) 融資成本

4) 所得稅開支

本集團須就於其主要營業
地點香港產生或源自香港
的溢利繳納所得稅。於回顧
期內的未經審核簡明綜合
全面收益表內的所得稅抵
免指:



4) INCOME TAX EXPENSE (CONT’D)

Pursuant to the rules and regulations of
Cayman Islands, the Group is not subject
to any taxation under the jurisdictions of
Cayman Islands.

On 21 March 2018, the Hong Kong
Legislative Council passed The Inland
Revenue (Amendment) (No.7) Bill 2017
(“Bill”) which introduces the two-tiered
profits tax rates regime. The Bill was
signed into law on 28 March 2018 and
was gazetted on the following day.

For the six months ended 30 November
2021 and 2020, Hong Kong Profits Tax
is calculated in accordance with the
two-tiered profits tax rates regime. Under
the two-tiered profits tax rates regime, the
first HK$2,000,000 of profits of qualifying
corporation will be taxed at 8.25%, and
profits above HK$2,000,000 will be taxed
at 16.5%. The profits of corporations not
qualifying for the two-tiered profits tax
rates regime will continue to be taxed
at 16.5% on the estimated assessable
profits.

5) DIVIDEND

No dividends were paid, declared and
proposed by the Company during the six
months ended 30 November 2021 and
2020.

4) 所得稅開支(續)

根據開曼群島的法規及規
例,本集團毋須於開曼群島
司法權區繳納任何稅項。


於2018年3月21日,香港立
法會通過《2017年稅務(修訂)
(第7號)條例草案》(「條例草
案」),其引入利得稅兩級
制。條例草案於2018年3月
28日經簽署成為法律,並於
翌日刊登憲報。


截至2021年及2020年11月
30日止六個月,香港利得
稅乃按照利得稅兩級制計
算。根據利得稅兩級制,
合資格法團將按8.25%的
稅率就首2,000,000港元的
溢利繳稅,並將按16.5%的
稅率就超過2,000,000港元
的溢利繳稅。不符合利得
稅兩級制資格的法團的溢
利將就估計應課稅溢利繼
續按16.5%的稅率繳稅。


5) 股息

截至2021年及2020年11月
30日止六個月,本公司概
無派付、宣派及建議派付
股息。




6) LOSS PER SHARE ATTRIBUTABLE
TO OWNERS OF THE COMPANY

For the three months ended

For the six months ended

30 November

30 November

截至11月30日止三個月

截至11月30日止六個月

2021

2020

2021

2020

2021年

2020年

2021年

2020年

HK$’000

HK$’000

HK$’000

HK$’000

千港元

千港元

千港元

千港元

(unaudited)

(unaudited)

(unaudited)

(unaudited)

(未經審核)

(未經審核)

(未經審核)

(未經審核)

Loss attributable to owners of
the Company

本公司擁有人應佔
虧損

(2,642)

(6,210)

(4,620)

(4,094)













Weighted average number
of ordinary shares for the
purpose of calculating
basic losses per share
(in thousands)

用以計算每股基本
虧損的普通股
加權平均數(千股)

998,800

960,000

998,800

891,803

















The effect of all potential ordinary shares
are anti-dilutive for the six months ended
30 November 2021 (2020: No potential
ordinary shares in issue during the
periods). Accordingly, the diluted loss per
share is the same as the basic loss per
share for both periods.

7) PROPERTY, PLANT AND
EQUIPMENT AND RIGHT-OF-
USE ASSETS

During the six months ended
30 November 2021 (unaudited), the Group
acquired property, plant and equipment of
approximately HK$1,495,000 (six months
ended 30 November 2020 (unaudited):
approximately HK$16,000).

6) 本公司擁有人應佔每
股虧損

所有潛在普通股的影響於
截至2021年11月30日止六
個月內乃屬反攤薄(2020年:
於該等期間內並無潛在的
已發行普通股)。因此,兩個
期間的每股股份攤薄虧損
與每股股份基本虧損相同。


7) 物業、廠房及設備以
及使用權資產

截至2021年11月30日止六個
月(未經審核),本集團收購
物業、廠房及設備約1,495,000
港元(截至2020年11月30日止
六個月(未經審核):約16,000
港元)。




7) PROPERTY, PLANT
AND EQUIPMENT AND
RIGHT-OF-USE ASSETS
(CONT’D)

During the six months ended
30 November 2021 (unaudited), the
Group did not write off and disposal
any property, plant and equipment
(six months ended 30 November 2020
(unaudited): HK$Nil).

8) TRADE AND OTHER RECEIVABLES

As at



30 November

31 May

2021

2021

11月30日

5月31日

2021年

2021年

HK$’000

HK$’000

千港元

千港元

(unaudited)

(audited)

(未經審核)

(經審核)

Trade receivables

貿易應收款項

657

782

Other receivables

其他應收款項

124

19

Prepayments

預付款項

1,014

1,423

Deposits

按金

8,097

16,307









Total

總計

9,892

18,531

Less:

減:

Deposits

按金

(3,283)

(3,042)









Trade and other receivables

貿易及其他應收款項

6,609

15,489













7) 物業、廠房及設備以
及使用權資產(續)

截至2021年11月30日止六
個月(未經審核),本集團並
無撇銷及出售任何物業、廠
房及設備(截至2020年11月
30日止六個月(未經審核):
零港元)。


8) 貿易及其他應收款項



8) TRADE AND OTHER
RECEIVABLES (CONT’D)

Trade receivables

Majority of the Group’s revenue is
attributable to sales of food and
beverages via cash and credit card.
There was no credit term granted to the
customers.

An ageing analysis of the Group’s trade
receivables at the end of the reporting
period, net of impairment, based on
invoice date is as follows:

Ageing analysis

As at



30 November

31 May

2021

2021

11月30日

5月31日

2021年

2021年

HK$’000

HK$’000

千港元

千港元

(unaudited)

(audited)

(未經審核)

(經審核)

0-30 days

0至30日

251

618

31-60 days

31至60日

82

83

61-90 days

61至90日

80

62

91-180 days

91至180日

244

13









657

782













8) 貿易及其他應收款項
(續)

貿易應收款項

本集團大部分收益乃來自
以現金及信用卡支付的食
品及飲品銷售。本集團並無
向客戶授出信貸期。


本集團於報告期末的貿易
應收款項(扣除減值)基於發
票日期的賬齡分析如下:

賬齡分析



8) TRADE AND OTHER
RECEIVABLES (CONT’D)

Ageing analysis (Cont’d)

At the end of the reporting period, the
Group reviews receivables for evidence
of impairment on both an individual and
collective basis. Impairment losses in
respect of trade receivables are recorded
using an allowance account unless the
Group is satisfied that recovery of the
amount is remote, in which case the
impairment loss is written off against
trade receivables directly.

9) INVENTORIES

As at



30 November

31 May

2021

2021

11月30日

5月31日

2021年

2021年

HK$’000

HK$’000

千港元

千港元

(unaudited)

(audited)

(未經審核)

(經審核)

Beverage

飲品

4,745

545













8) 貿易及其他應收款項
(續)

賬齡分析(續)

於報告期末,本集團個別及
整體檢討應收款項,以確定
有否出現減值跡象。貿易應
收款項的減值虧損以撥備
賬列賬,惟倘本集團信納該
款項不大可能收回,則減值
虧損直接於貿易應收款項
撇銷。


9) 存貨



10) CASH AND CASH EQUIVALENTS

As at



30 November

31 May

2021

2021

11月30日

5月31日

2021年

2021年

HK$’000

HK$’000

千港元

千港元

(unaudited)

(audited)

(未經審核)

(經審核)

Cash and cash balances

現金及現金結餘

3,449

2,001

Time deposits

定期存款



503









Cash and cash equivalents

現金及現金等價物

3,449

2,504













Cash and cash equivalents represented
cash at banks and in hand. Cash at
banks earns interest at floating rates
based on daily bank deposit rates. Short
term time deposits are made for varying
periods of between one day and three
months depending on the immediate
cash requirements of the Group, and earn
interest at the respective short term time
deposit rates. The bank balances and
time deposits are deposited with credit
worthy banks with no recent history of
default.

10) 現金及現金等價物

現金及現金等價物指銀行
及手頭現金。銀行現金按每
日銀行存款利率計算的浮
動利率賺取利息。短期定期
存款的期限由一日至三個
月不等,視乎本集團的即時
現金需求而定,並按各自的
短期定期存款利率賺取利
息。銀行結餘及定期存款存
放於信譽良好且近期並無
違約記錄的銀行。




11) RESTRICTED BANK DEPOSITS

Restricted bank deposits represented
cash at bank held by a subsidiary
secured for bank borrowing (note 14).

12) TRADE AND OTHER PAYABLES

As at



30 November

31 May

2021

2021

11月30日

5月31日

2021年

2021年

HK$’000

HK$’000

千港元

千港元

(unaudited)

(audited)

(未經審核)

(經審核)

Trade payables

貿易應付款項

2,795

1,450

Accruals and other payables

應計費用及其他應付
款項

9,474

15,991

Provisions

撥備

1,297

1,297









Total

總計

13,566

18,738

Less: Current portion

減:即期部分

(12,336)

(17,508)









Non-current portion

非即期部分

1,230

1,230













11) 受限制銀行存款

受限制銀行存款指附屬公
司作為銀行借款的擔保所
持有的銀行現金(附註14)。


12) 貿易及其他應付款項



12) TRADE AND OTHER PAYABLES
(CONT’D)

An ageing analysis of the Group’s trade
payables at the end of the reporting
period based on invoice date is as
follows:

As at



30 November

31 May

2021

2021

11月30日

5月31日

2021年

2021年

HK$’000

HK$’000

千港元

千港元

(unaudited)

(audited)

(未經審核)

(經審核)

0-30 days

0至30日

1,188

878

31-60 days

31至60日

1,237

393

Over 60 days

超過60日

370

179









2,795

1,450













Accruals and other payables included
provision of reinstatement and deferred
rental expense.

13) AMOUNTS DUE TO NON-
CONTROLLING SHAREHOLDERS

The amount due is non-trade nature,
unsecured, interest-free and repayable
on demand.

12) 貿易及其他應付款項
(續)

本集團於報告期末的貿易
應付款項基於發票日期的
賬齡分析如下:

應計費用及其他應付款項
包括撥備修復成本及遞延
租賃開支。


13) 應付非控股股東款項

該應付款項為非交易性質、
無抵押、免息及須按要求償
還。




14) BANK BORROWINGS

The Group’s bank borrowings are
analysed as follows:

As at



30 November

31 May

2021

2021

11月30日

5月31日

2021年

2021年

HK$’000

HK$’000

千港元

千港元

(unaudited)

(audited)

(未經審核)

(經審核)

Current

即期

Bank loans due for
repayment within
one-year (Note (a))

須於一年內償還
的銀行貸款
(附註(a))

(a)(b)



17,858











Total bank borrowings

銀行借款總額



17,858















Notes:

(a) The bank borrowing of HK$17,858,000
for the year ended 31 May 2021 was
secured by a restricted bank deposit
placed by subsidiary in the bank.
Interest is charged at 1% per annum
for the year ended 31 May 2021.

(b) As at 31 May 2021, the restricted
bank deposits of HK$17,860,000 were
security of bank borrowing, placed by
a subsidiary in the bank.

14) 銀行借款

本集團的銀行借款分析如
下:

附註:

(a) 截至2021年5月31日止年
度,銀行借款17,858,000
港元以附屬公司存放於
銀行的受限制銀行存款
作抵押。截至2021年5月
31日止年度,利息按年
利率1%計息。


(b) 於2021年5月31日,附屬
公司存放於銀行的受限
制銀行存款17,860,000
港元乃銀行借款之抵押。




14) BANK BORROWINGS (CONT’D)

The above banking facilities of the loans
are subject to the fulfilment of covenants
relating to minimum requirement of
pledged debt securities and restricted
bank deposits and compliance of the
bank’s administrative requirements, as are
commonly found in lending arrangements
with financial institutions in Hong Kong.
If the subsidiary was to breach the
covenants, the drawn down facility would
become repayable on demand.

As at 31 May 2021, the bank borrowings
were scheduled to repay within one year
or on demand.

The Group regularly monitors the
compliance with these covenants and
the scheduled repayments of the loans
and does not consider it probable that
the bank will exercise its discretion to
demand repayment for so long as the
subsidiary continues to meet these
requirements. As at 31 May 2021, none
of the covenants relating to drawn down
facilities had been breached.

14) 銀行借款(續)

上述貸款的銀行融資須待
有關已抵押債務證券及受
限制銀行存款的最低要求
及遵守銀行行政規定的契
諾達成後方可作實,而該等
契諾常見於與香港金融機
構訂立的借貸安排。倘附屬
公司違反契諾,則須按要求
償還已提取融資。


於2021年5月31日,銀行借
款預定於一年內或按要求償
還。


本集團定期監察其遵守該
等契諾及按期償還貸款的
情況,並認為只要附屬公司
繼續遵守該等規定,銀行不
大可能會行使其酌情權要
求還款。於2021年5月31日,
本集團概無違反有關已提
取融資的契諾。




15) SHARE CAPITAL

The following changes in the Company’s
authorised and issued share capital took
place during the period from 1 June 2020
to 31 May 2021 and 30 November 2021.

Number

of shares

Amount

股份數目

金額

HK$’000

千港元

Authorised:

法定:

Ordinary share of HK$0.01 each

每股面值0.01港元
的普通股

10,000,000,000

100,000









Issued and fully paid:

已發行及繳足:

At 1 June 2019, 31 May 2020
and 1 June 2020

於2019年6月1日、
2020年5月31日及
2020年6月1日

800,000,000

8,000

Issue of ordinary shares by
placing (Note a)

通過配售發行普通股
(附註a)

160,000,000

1,600

Issue of ordinary shares upon
exercised of share options
(Note b)

購股權獲行使時發行
普通股(附註b)

38,800,000

388









At 30 November 2021

於2021年11月30日

998,800,000

9,988













15) 股本

本公司於2020年6月1日至
2021年5月31日及2021年11
月30日止期間的法定及已
發行股本變動如下。




15) SHARE CAPITAL (CONTINUED)

Notes:

(a) On 30 June 2020, the Company
entered into a placing agreement
(supplemented by a supplemental
agreement dated 21 July 2020) with the
placing agent and successfully through
the placing agent placed and issued
160,000,000 new ordinary shares
of the Company to 6 independent
placees at a price of HK$0.13 per
share pursuant to the general mandate
granted to the Directors on 18 August
2020. The premium on the issue of
shares, amounting to approximately
HK$18,734,000, net of the placing
commission and other related
transaction costs of HK$466,000 was
credited to the Company’s share
premium account.

(b) On 8 March 2021, the Company have
granted 68,800,000 share options to its
employees and consultants, of which
the exercise price is HK$0.385 per
share. During the year ended 31 May
2021 and up to 30 November 2021,
38,800,000 share options have been
exercised and bought cash inflows of
approximately HK$14,938,000 to the
Company.

15) 股本(續)

附註:

(a) 於2020年6月30日,本公
司與配售代理訂立配售
協議(經日期為2020年
7月21日的補充協議補
充),並成功通過配售
代理根據於2020年8月
18日向董事授出的一
般授權按每股股份0.13
港元的價格向6名獨立
承配人配售及發行本公
司160,000,000股新普通
股。發行股份的溢價約
為18,734,000港元(扣除
配售佣金及其他相關交
易成本466,000港元)已
記入本公司的股份溢價
賬。


(b) 於2021年3月8日,本
公司已向其僱員及顧
問授予68,800,000份購
股權,其行使價為每股
0.385港元。截至2021
年5月31日止年度及直
至2021年11月30日,38,800,000份購股權已
獲行使,為本公司帶來
約14,938,000港元的現
金流入。




16) NON-CONTROLLING INTERESTS

On 13 August 2021, each of Castle
Team Limited (an indirect 51%-owned
subsidiary of the Company) (“Castle
Team”) and the other six new investors
entered into a shares subscription
agreement with Crown Grand Limited
(an indirect wholly-owned subsidiary
of the Company) (“Crown Grand”) and
Lively World Limited (the direct holding
company of Crown Grand Limited)
(“Lively World”), pursuant to which
Castle Team and the new investors
agreed to subscribe for a total of 30
new shares in Crown Grand for a total
subscription price of HK$6 million in cash.
The transaction completed on 20 August
2021, and since then Crown Grand held
as to 28% by the new investors, 0.98%
by non-controlling interest of Castle Team
and 71.02% by the Group (comprising
70% via Lively World and 1.02% via
Castle Team). The Group recognised an
increase in non-controlling interests of
HK$3,376,000 and an increase in equity
attributable to owners of the parent of
HK$2,224,000.

16) 非控股權益

於2021年8月13日,Castle
Team Limited(本公司間
接擁有51%股權的附屬
公司)(「Castle Team」)及
其他6名新投資者各自與
Crown Grand Limited(本公
司的間接全資附屬公司)
(「Crown Grand」)及Lively
World Limited(Crown Grand
Limited的直接控股公司)
(「Lively World」)訂立了股
份認購協議,根據該等協
議,Castle Team及新投資者
同意以總認購價6,000,000
港元現金認購Crown Grand
總計30股新股份。此交易
已於2021年8月20日完成,
自此,Crown Grand由新
投資者持有28%股權,由
Castle Team非控股權益持
有0.98%股權及由本集團持
有71.02%股權(由透過Lively
World持有的70%股權及透
過Castle Team持有的1.02%
股權組成)。本集團確認非
控股權益增加3,376,000港
元及母公司擁有人應佔權
益增加2,224,000港元。




Currently, the Group is operating (i) three night
clubs and sports-themed bar, namely Mudita,
Faye and Paper Street; (ii) one entertainment
studio, namely Maximus Studio.

BUSINESS REVIEW

During the six months ended 30 November 2021
and up to the date of this report, the Group had
been principally engaged in the operation of
clubbing, entertainment and catering business in
Hong Kong.

Operation of club and entertainment business

During the period under review, the Group
operated three night clubs and sports-themed
bar (namely, Mudita, Faye and Paper Street),
and an entertainment studio (namely, Maximus
Studio) to cover different segments of the club
and entertainment market. Mudita aims to be a
more sophisticated high-end and contemporary
bar with no dance floor, offering a variety of
entertainment such as live entertainment shows
as well as international DJ performance. Maximus
Studio is working to achieve a lifestyle designed
by our customers and is a place to build the
greatest self. Faye aims at to provide combined
clubbing and sport-themed vibe experience to its
customers while Paper Street aims at providing
a casual and comfortable environment for its
patronage. The revenue generated from the
operation of club and entertainment business
increased by approximately HK$24.0 million,
or approximately 250.4%, from approximately
HK$9.6 million for the six months ended 30
November 2020 to approximately HK$33.5 million
for the six months ended 30 November 2021.

現時,本集團經營(i)三間晚上會
所及運動主題酒吧Mudita、Faye
及Paper Street;(ii)一間娛樂中心
Maximus Studio。


業務回顧

截至2021年11月30日止六個月及
直至本報告日期,本集團主要於香
港經營會所、娛樂及餐飲業務。


經營會所及娛樂業務

於回顧期內,本集團經營三間晚上
會所及一間運動主題酒吧Mudita、
Faye及Paper Street以及一間娛樂
中心Maximus Studio,覆蓋會所及
娛樂市場的不同領域。Mudita旨在
成為更具高尚格調、饒富當代特色
的高級酒吧,酒吧將不設舞池,惟
將提供各式各樣的娛樂節目(如現
場娛樂表演及國際唱片騎師表演)。

Maximus Studio則致力於達致由我
們客戶自訂的生活方式,並為構建
最理想自我的地方。Faye旨在向其
客戶提供會所及運動主題氛圍的
綜合體驗,而Paper Street則旨在為
其支持者提供休閒及舒適的環境。

經營會所及娛樂業務所得收益由
截至2020年11月30日止六個月約9.6
百萬港元增加約24.0百萬港元或約
250.4%至截至2021年11月30日止
六個月約33.5百萬港元。




Operation of catering business

Tiger San was closed down in mid-May 2021 due
to its unsatisfactory performance resulted from
the outbreak of COVID-19 since January 2020,
hence, for the period under review, no revenue
was generated from the operation of catering
business while approximately HK$2.3 million
revenue was generated from the operation of
catering business for the six months ended 30
November 2020.

The outbreak of COVID-19

Subsequent to 30 November 2021 and up to
the date of this report, the management noted
that the COVID-19 caused material disruption
to the Group’s club, entertainment and catering
operation, which adversely affected the Group’s
business, financial condition and operating
performance. The Group has been actively
adopting cost control measures including
re-prioritising work plans to improve liquidity
position, closely monitoring the market situation
and timely adjusting the business strategies in
view of the development of the epidemic.

經營餐飲業務

Tiger San於2021年5月中旬由於自
2020年1月起2019冠狀病毒病爆發
導致表現不盡人意而結業,因此回
顧期內並無自經營餐飲業務產生
收益,而截至2020年11月30日止
六個月自經營餐飲業務產生收益
約2.3百萬港元。


2019冠狀病毒病爆發

於2021年11月30日後及直至本報
告日期,管理層注意到2019冠狀病
毒病嚴重擾亂本集團會所、娛樂及
餐飲業務,此對本集團的業務、財
務狀況及經營表現造成重大不利
影響。本集團已積極採取一系列成
本控制措施(包括重置工作計劃之
先後順序以改善流動資金狀況、密
切關注市場形勢並根據疫情的發
展情況及時調整業務策略)。




FINANCIAL REVIEW

Revenue

During the reporting period under review,
the Group’s revenue was generated from the
operation of club and entertainment and catering
business in Hong Kong. For the six months
ended 30 November 2021, the Group operated
three night clubs and sports-themed bar and
one entertainment studio located in Hong Kong.
The restaurants, namely, Tiger San was closed
down in mid-May 2021 due to its unsatisfactory
performance resulted from the outbreak of
COVID-19 since January 2020, hence, no
revenue was generated from the operation of
catering business during the reporting period
under review.

The Group recognised its revenue from (a) the
club and entertainment operations (including
tips, cloakroom fees and service income from
an entertainment studio) when (i) the customer
takes possession of and accepts the products;
(ii) services when the customer simultaneously
receives and consumes the benefits provided
by the Group or other products are delivered
to the customers; (b) the restaurant operations
when the customer takes possession of and
accepts the food and beverage products; and (c)
entertainment income when services have been
performed to the customer.

財務回顧

收益

於回顧報告期內,本集團的收益來
自於香港經營會所及娛樂以及餐
飲業務。截至2021年11月30日止
六個月,本集團經營位於香港的三
間晚上會所及運動主題酒吧及一
間娛樂中心。餐廳Tiger San於2021
年5月中旬由於自2020年1月起爆
發2019冠狀病毒病導致表現不盡
人意而結業,因此回顧報告期內並
無自經營餐飲業務產生收益。


本集團(a)於(i)客戶佔有及接納產
品;(ii)客戶同時接受及使用本集
團履約所提供之利益或交付其他
產品予其客戶時所確認之會所及
娛樂營運收益(包括小費、衣帽間
費用及娛樂中心服務收入);(b)於
客戶佔有及接納食品及飲品時所
確認之餐廳營運收益;及(c)服務
已向客戶提供時所確認之娛樂收
入。




The table below sets forth the breakdown of the
revenue of clubbing and entertainment operation
and restaurant operation for the period under
review:

For the three months ended

For the six months ended

30 November

30 November

截至11月30日止三個月

截至11月30日止六個月

2021

2020

2021

2020

2021年

2020年

2021年

2020年

HK$’000

% of total
revenue

HK$’000

% of total
revenue

HK$’000

% of total
revenue

HK$’000

% of total
revenue

千港元

佔總收益

百分比

千港元

佔總收益

百分比

千港元

佔總收益

百分比

千港元

佔總收益

百分比

(unaudited)

(unaudited)

(unaudited)

(unaudited)

(未經審核)

(未經審核)

(未經審核)

(未經審核)

Clubbing and entertainment
operation

會所及娛樂營運

15,709

100

5,173

79.4

33,529

100

9,570

80.4

Restaurant operation

餐廳營運





1,341

20.6





2,333

19.6





















Total

總計

15,709

100

6,514

100.0

33,529

100

11,903

100.0

























The revenue generated from the operation of
club and entertainment business increased by
approximately HK$23.9 million, or approximately
250.3%, from approximately HK$9.6 million for
the six months ended 30 November 2020 to
approximately HK$33.5 million for the six months
ended 30 November 2021. Such increase was
mainly due to (i) the contribution from our new
outlet, namely, Faye, for the reporting period
under review and (ii) relief of business hours
restrictions implemented previously to combat
COVID-19 pandemic. Tiger San was closed
down in mid-May 2021 due to its unsatisfactory
performance resulted from the outbreak of
COVID-19 since January 2020, hence, for the
period under review, no revenue was generated
from the operation of catering business while
approximately HK$2.3 million revenue was
generated from the operation of catering
business for the six months ended 30 November
2020.

下表載列於回顧期內按會所及娛
樂營運以及餐廳營運劃分的收益
明細:

經營會所及娛樂業務所得收益由
截至2020年11月30日止六個月約9.6
百萬港元增加約23.9百萬港元或約
250.3%至截至2021年11月30日止
六個月約33.5百萬港元。有關增加
主要是由於(i)回顧報告期內來自
我們新開門店Faye的貢獻以及(ii)
因應抗擊2019冠狀病毒病疫情所
實施之營業時間限制有所放寬。

Tiger San於2021年5月中旬由於自
2020年1月起2019冠狀病毒病爆發
導致表現不盡人意而結業,因此回
顧期內並無自經營餐飲業務產生
收益,而截至2020年11月30日止
六個月自經營餐飲業務產生收益
約2.3百萬港元。




Changes in inventories

The changes in inventories mainly represented
the cost of beverage and food ingredients
used in the Group’s club, entertainment and
restaurant operations. The major beverage and
food ingredients purchased by the Group include
but not limited to liquors, champagne, liqueurs,
frozen food, dried food, etc. The changes in
inventories comprised the cost of inventories sold
which increased by approximately HK$5.7 million,
or approximately 212.3%, from approximately
HK$2.7 million for the six months ended 30
November 2020 to approximately HK$8.4 million
for the six months ended 30 November 2021.
Such increase was mainly due to the operation
of new outlet; and increase was in line with the
increase in revenue for the six months ended 30
November 2021.

Other income and gains

The Group’s other income significantly
decreased by approximately HK$11.7 million, as
compared with the corresponding period in 2020,
during which the Group obtained (i) subsidies
amounting to HK$3.3 million from the government
of Hong Kong and (ii) the rent concession in
the sum of approximately HK$8.7 million from
our landlords as relief to challenges inflicted by
the COVID-19 pandemic. There were no such
subsidies and rent concession received for the
reporting period under review.

存貨之變動

存貨之變動主要指本集團的會所、
娛樂及餐廳營運所用飲品及食材
的成本。本集團採購的主要飲品及
食材包括(但不限於)烈酒、香檳、
甜酒、急凍食品及乾製食品等。存
貨銷售成本為存貨變動的其中一
個組成部分,有關成本由截至2020
年11月30日止六個月約2.7百萬港
元增加約5.7百萬港元或約212.3%
至截至2021年11月30日止六個月
約8.4百萬港元。該增長主要是源
於經營新店;而該增長乃與截至
2021年11月30日止六個月收益增
長相符。


其他收入及收益

本集團其他收入較2020年同期大
幅減少約11.7百萬港元,而於該期
間內本集團獲得(i)來自香港政府的
補助3.3百萬港元以及(ii)業主所提
供的租金優惠約8.7百萬港元,作
為對2019冠狀病毒病疫情所造成
的挑戰的緩解。回顧報告期內本集
團並無收取該等補助及租金減讓。




Advertising and marketing expenses

Advertising and marketing expenses primarily
consisted of advertising and promotional
expenses such as the cost of engaging resident
and guest DJs and the expenses incurred
for engaging a public relations company for
the provision of marketing and promotion
services to the Group’s club, entertainment
and restaurant operations. The advertising and
marketing expenses increased by approximately
HK$4.2 million, or approximately 311.1%, from
approximately HK$1.4 million for the six months
ended 30 November 2020 to approximately
HK$5.6 million for the six months ended 30
November 2021. Such an increase was mainly
due to increase in expenses incurred for public
relation services as well as that for advertising
and marketing services resulting from relief of
business hours restrictions during the six months
ended 30 November 2021.

Employee benefits expenses

Employee benefits expenses primarily consisted
of all salaries and benefits payable to all
employees and staff, including the Directors,
headquarters staff and operational staff in
each outlet. The employee benefits expenses
increased by approximately HK$2.1 million, or
approximately 38.3%, from approximately HK$5.7
million for the six months ended 30 November
2020 to approximately HK$7.8 million for the
six months ended 30 November 2021. Such
increase was mainly due to the relief of business
hours restriction during the six months ended 30
November 2021 resulting in increase in wageable
hours.

廣告及市場推廣開支

廣告及市場推廣開支主要包括廣
告及宣傳開支(如聘請駐場及客席
唱片騎師的成本)與聘請公關公司
為本集團的會所、娛樂及餐廳營
運提供營銷及推廣服務所產生的
開支。廣告及市場推廣開支由截至
2020年11月30日止六個月的約1.4
百萬港元增加約4.2百萬港元或約
311.1%至截至2021年11月30日止
六個月的約5.6百萬港元。有關增
長主要是由於截至2021年11月30
日止六個月期間營業時間限制有
所放寬,導致公共關係服務以及廣
告及市場推廣服務所產生的開支
增加。


僱員福利開支

僱員福利開支主要包括對所有僱
員及員工(包括董事、總部員工及
各門店的運作員工)的所有應付薪
金及福利。僱員福利開支由截至
2020年11月30日止六個月約5.7
百萬港元增加約2.1百萬港元或約
38.3%至截至2021年11月30日止六
個月約7.8百萬港元。有關增加主
要是由於截至2021年11月30日止
六個月內營業時間限制有所放寬,
導致計薪工時增加。




Depreciation of property, plant and equipment
and right-of-use assets

Depreciation represented the depreciation charge
for property, plant and equipment (including,
among others, leasehold improvements, furniture,
fixtures and equipment) and right-of-use assets.
Property, plant and equipment are depreciated
so as to write off their cost net of expected
residual value over their estimated useful lives
on a straight-line basis. The total depreciation
decreased by approximately HK$6.7 million,
or approximately 54.1%, from approximately
HK$12.4 million for the six months ended 30
November 2020 to approximately HK$5.7 million
for the six months ended 30 November 2021.
Such decreased was due to previous recognition
of full impairment to the property, plant and
equipment and right-of-use assets of two outlets,
resulting in cessation of such charges during the
reporting period under review.

Other expenses

Other expenses mainly represented security
expenses for the clubs, credit card commissions,
repairs and maintenance costs, cleaning
expenses, professional fee and entertainment
expenses. Such expenses increased by
approximately HK$5.2 million, or approximately
101.2%, from approximately HK$5.2 million for
the six months ended 30 November 2020 to
approximately HK$10.4 million for the six months
ended 30 November 2021. Such increase was
mainly due to extended operating hours of our
entertainment outlets resulting from relief of
business hours restriction during the six months
ended 30 November 2021.

Loss before income tax

As a result of the cumulative factors discussed
above, the loss before income tax expenses
increased from approximately HK$4.2 million
for the six months ended 30 November 2020 to
approximately HK$4.6 million for the six months
ended 30 November 2021.

物業、廠房及設備以及使用權資產
折舊

折舊指物業、廠房及設備(包括(其
中包括)租賃物業裝修、傢具以及
裝置及設備)以及使用權資產的折
舊費用。物業、廠房及設備的折舊
乃於估計可使用年期內按直線法
撇銷成本(已扣除預期剩餘價值)計
算。折舊總額由截至2020年11月
30日止六個月的約12.4百萬港元
減少約6.7百萬港元或約54.1%至
截至2021年11月30日止六個月的
約5.7百萬港元。有關減少乃由於
兩間門店的物業、廠房及設備以及
使用權資產先前確認全面減值,因
此於回顧報告期並無該項費用。


其他開支

其他開支主要指會所保安開支、信
用卡手續費、維修及保養成本、清
潔費、專業費用及娛樂費用。該等
開支由截至2020年11月30日止六
個月的約5.2百萬港元增加約5.2百
萬港元或約101.2%至截至2021年
11月30日止六個月的約10.4百萬
港元。有關增加主要是由於於截至
2021年11月30日止六個月期間營
業時間限制有所放寬,導致我們娛
樂門店的營業時間增加。


除所得稅前虧損

受上述因素共同影響,除所得稅開
支前虧損由截至2020年11月30日
止六個月的約4.2百萬港元增加至
截至2021年11月30日止六個月的
除所得稅前虧損約4.6百萬港元。




Loss and total comprehensive income for the
period

The loss and total comprehensive income
increased from approximately HK$4.2 million
for the six months ended 30 November 2020 to
approximately HK$4.6 million for the six months
ended 30 November 2021. Such a change
was due to cessation of receipt of government
subsidies and rent concession by the Group
during the reporting period under review, which
were enjoyed in the Corresponding period in
2020 despite the effect was partially offset by
the strong performance of new outlet during the
period under review.

PROSPECTS

As at the date of this report, the prospects of the
Group and the core direction of the Company
has not changed materially from the information
disclosed in the Company’s annual report
published on 27 August 2021 (“2021 Annual
Report”).

LIQUIDITY AND FINANCIAL
RESOURCES

The Group funded its liquidity and capital
requirements primarily through cash inflows
from operating activities and bank borrowings.
As at 30 November 2021, the Group’s total cash
and bank balances (including cash and cash
equivalents and restricted bank deposits) were
approximately HK$3.4 million (31 May 2021:
approximately HK$20.4 million). The current
ratios (calculated by current assets divided
by current liabilities) of the Group were at
approximately 0.4 times and 0.6 times as at 30
November 2021 and 31 May 2021, respectively.
The gearing ratio calculated by total debt divided
by total equity of the Group. As at 30 November
2021 and 31 May 2021, the Group are deficiency
in assets, hence, no gearing ratio is disclosed.

期內虧損及全面收益總額

虧損及全面收益總額由截至2020
年11月30日止六個月的約4.2百萬
港元增加至截至2021年11月30日
止六個月的虧損及全面收益總額
約4.6百萬港元。該變動主要是由
於2020年同期本集團所享有的政
府補助及租金優惠,於回顧報告期
內並無獲取,儘管有關影響部分被
回顧期間新門店的強勁表現所抵銷。


前景

於本報告日期,本集團的前景及本
公司的核心方向與2021年8月27日
刊發的本公司年報(「2021年報」)所
披露的資料相比並無重大變化。


流動資金及財務資源

本集團主要透過經營活動的現金
流入及銀行借款撥付其流動資金
及資本需求。於2021年11月30日,
本集團的總現金及銀行結餘(包括
現金及現金等價物及受限制銀行
存款)為約3.4百萬港元(2021年5月
31日:約20.4百萬港元)。於2021
年11月30日及2021年5月31日,本
集團的流動比率(按流動資產除以
流動負債計算)分別為約0.4倍及0.6
倍。資產負債比率乃按本集團債務
總額除以總權益計算。於2021年11
月30日及2021年5月31日,本集團
出現資產虧絀,因此,並無披露資
產負債比率。




As at 31 November 2021, the Group did not
have any outstanding bank loan (31 May 2021:
approximately HK$17.9 million).

CONTINGENT LIABILITIES

As at 30 November 2021, there were no
significant contingent liabilities for the Group
(31 May 2021: Nil).

EMPLOYEES AND REMUNERATION
POLICIES

As at 30 November 2021, the Group employed
71 employees (31 May 2021: 41 employees).
Employee benefit expenses of the Group
(including Directors’ remuneration, wages,
salaries, performance related bonuses, other
benefits and contribution to defined contribution
pension plans) amounted to approximately
HK$7.8 million for the six months ended
30 November 2021 (for the six months ended
30 November 2020: approximately HK$7.8
million). The Group endeavors to ensure
that the employees’ salary levels are in line
with the industry practice and the prevailing
market conditions and that employees’ overall
remuneration is determined based on the Group’s
and their performance. Share options may be
granted to respective employees with outstanding
performance and contributions to the Group.

SIGNIFICANT INVESTMENTS HELD

As at 30 November 2021, the Group did not hold
any significant investment (31 May 2021: Same).

於2021年11月30日,本集團並無
任何銀行貸款(2021年5月31日:
約17.9百萬港元)。


或然負債

於2021年11月30日,本集團並無
任何重大或然負債(2021年5月31
日:無)。


僱員及薪酬政策

於2021年11月30日,本集團聘用
71名僱員(2021年5月31日:41名
僱員)。截至2021年11月30日止六
個月,本集團的員工福利開支(包
括董事薪酬、工資、薪金、與表現
掛鈎的花紅、其他福利以及界定供
款退休計劃供款)為約7.8百萬港元
(截至2020年11月30日止六個月:
約7.8百萬港元)。本集團將致力確
保僱員的薪金水平與行業慣例及
現行市況一致,且僱員整體薪酬根
據本集團及彼等的表現釐定。表現
突出及對本集團作出貢獻的僱員
或會獲授購股權。


所持重大投資

於2021年11月30日,本集團並無
持有任何重大投資(2021年5月31
日:同)。




FUTURE PLANS FOR MATERIAL
INVESTMENTS OR CAPITAL ASSETS

During the six months ended 30 November 2021,
save as disclosed in the Prospectus, the May
2018 Announcement and in this report, the Group
currently does not have any firm intention or
specific plans for material investments or capital
assets.

FOREIGN EXCHANGE EXPOSURE

The Group’s main operations are in Hong Kong
with most of its transactions are settled in HKD.
The Directors are of the opinion that the Group’s
exposure to foreign exchange risk is insignificant.
During the six months ended 30 November 2021,
the Group did not hedge any exposure to foreign
exchange risk (31 May 2021: Nil).

CAPITAL COMMITMENTS

As at 30 November 2021, the Group did not have
any significant capital commitments (31 May
2021: Nil).

PLEDGE OF ASSETS

No pledge of assets during the period 30
November 2021.

As at 31 May 2021, restricted bank deposits of
approximately HK$17.9 million were pledged to
secure bank borrowings.

重大投資或資本資產的未
來計劃

截至2021年11月30日止六個月,
除招股章程、2018年5月公告及本
報告所披露者外,本集團現時並無
就重大投資或資本資產具有任何
明確意向或特定計劃。


外匯風險

本集團的主要業務位於香港,大部
分交易以港元結算。董事認為,本
集團所面臨的外匯風險不大。截至
2021年11月30日止六個月,本集
團並無對沖所面臨的任何外匯風
險(2021年5月31日:無)。


資本承擔

於2021年11月30日,本集團並無
任何重大資本承擔(2021年5月31
日:無)。


資產抵押

截至2021年11月31日止期間並無
資產抵押。


於2021年5月31日,金額約17.9百
萬港元的受限制銀行存款已予抵
押,以獲取銀行借款。




CAPITAL STRUCTURE

The Company’s shares were successfully listed
on GEM of the Stock Exchange on 7 April 2017.
The capital structure of the Group comprises
of issued share capital and reserves. Details
regarding the maturity profiles of debt for the six
months ended 30 November 2021 are presented
for the Group as disclosed in note 14 of the
notes to the unaudited condensed consolidated
financial statements.

LISTING OF SHARES

Based on the offer price of HK$0.34 per offer
share, the net proceeds from the Listing, after
deducting the underwriting commission and other
estimated expenses, amounted to approximately
HK$43.9 million.

On 11 May 2018, the Board resolved to change
the use of the net proceeds as set out in the
section headed “Future Plans and Use of
Proceeds” in the Prospectus of the Company
dated 24 March 2017 (“Prospectus”). Details
of the original allocation of the net proceeds,
the revised allocation of the net proceeds, the
utilisation of the net proceeds as at 11 May 2018
and the remaining balance after the revised
allocation of the net proceeds were set out in the
announcement of the Company dated 11 May
2018 (“May 2018 Announcement”).

On 18 March 2021, the Board, having regard
to the prevailing circumstances, decided to
make further adjustments to the allocation of the
remaining adjusted net proceeds.

資本架構

本公司股份於2017年4月7日在聯
交所GEM成功上市。本集團的資本
架構由已發行股本及儲備組成。有
關本集團截至2021年11月30日止
六個月的債務到期概況詳情呈列
於未經審核簡明綜合財務報表附
註中附註14所披露內容。


股份上市

按發售價每股發售股份0.34港元
計算,上市的所得款項淨額(經扣
除包銷佣金及其他估計開支)為約
43.9百萬港元。


於2018年5月11日,董事會議決變
更本公司日期為2017年3月24日的
招股章程(「招股章程」)「未來計劃
及所得款項用途」一節所載的所得
款項淨額用途。有關所得款項淨額
的原定分配、所得款項淨額的經修
訂分配、於2018年5月11日所得款
項淨額的動用情況及所得款項淨
額經修訂分配後的餘額的詳情載
於本公司日期為2018年5月11日的
公告(「2018年5月公告」)。


於2021年3月18日,董事會經考慮
當前情況後,決定進一步調整餘下
經調整所得款項淨額的分配。




The table below was extracted from the
announcement of the Company dated 18 March
2021 (“March 2021 Announcement”), which sets
out the details of the allocation of the adjusted
net proceeds as described in the May 2018
Announcement, the utilisation of the adjusted
net proceeds as at 18 March 2021 and the
revised allocation of the unutilised adjusted net
proceeds:

Uses of the adjusted net
proceeds

Original
allocation of
adjusted net
proceeds

Utilised
adjusted net
proceeds

Unutilised
adjusted net
proceeds

Revised
allocation of
unutilised
adjusted net
proceeds

經調整所得款項淨額用途

原定的經調
整所得款項
淨額的分配

已使用的
經調整所得
款項淨額

未使用的
經調整所得
款項淨額

經修訂後
未使用的
經調整所得
款項淨額的
分配

HK$ million

HK$ million

HK$ million

HK$ million

百萬港元

百萬港元

百萬港元

百萬港元

Continuing to expand and
diversify the outlet network of
the Group

繼續擴大及多元化
本集團的門店網絡

18.8

15.5

3.3

3.3

Upgrading the club facilities of
the Group

提升本集團的會所設施

16.1

9.0

7.1

3.0

Increasing marketing effort of
the Group

加大本集團的營銷力度

3.7

3.7





Enhancing corporate image of
the Group

提升本集團的企業形象

1.0

1.0





General working capital of
the Group

本集團一般營運資金

4.3

4.3



4.1













43.9

33.5

10.4

10.4

















下表摘錄自本公司日期為2021年3
月18日的公告(「2021年3月公告」),
並列載於2018年5月公告中所示的
經調整所得款項淨額的分配、於
2021年3月18日經調整所得款項淨
額的使用情況,以及經修訂後未使
用的經調整所得款項淨額的分配
的詳情:



During the period from the Listing Date to 30
November 2021, the Group has applied the net
proceeds as follows:

Adjusted allocation

of net proceeds

in accordance

with the adjusted

plan (as disclosed

in the May 2018

Announcement

and March 2021

Announcement)

up to 30 November
2021

Amount utilised

as at

30 November

2021

Amount unutilised

as at

30 November

2021

截至2021年

11月30日根據

經調整計劃

(誠如2018年5月

公告及2021年3月

公告所披露)

的所得款項淨額

經調整分配

於2021年

11月30日的

已動用金額

於2021年

11月30日的

未動用金額

HK$ million

HK$ million

HK$ million

百萬港元

百萬港元

百萬港元

Continuing to expand and
diversify the outlet
network of the Group

繼續擴大及多元化開拓
本集團的門店網絡

18.8

15.5

3.3

Upgrading the club facilities of
the Group

提升本集團的會所設施

12.0

12.0



Increasing marketing effort of
the Group

加大本集團的營銷力度

3.7

3.7



Enhancing corporate image of
the Group

提升本集團的企業形象

1.0

1.0



General working capital of
the Group

本集團一般營運資金

8.4

8.4













Total

總計

43.9

40.6

3.3















As at 30 November 2021, approximately HK$3.3
million (representing approximately 7.5% of the
net proceeds) had not yet been utilised.

自上市日期起至2021年11月30日
止期間,本集團已將所得款項淨額
用作以下用途:

於2021年11月30日,約3.3百萬港
元(佔所得款項淨額的約7.5%)尚未
獲動用。




The future plan and the planned amount of
usage of net proceeds as stated in the adjusted
plan were based on the best estimation and
assumption of future market conditions at the
time of preparing the May 2018 Announcement
and March 2021 Announcement while the net
proceeds were applied based on the actual
development of the Group’s business and the
industry. An analysis comparing the business
objective stated in the Prospectus with the
Group’s actual business progress as at 30
November 2021 is set out below:

Business objective and
strategy

Business plan and activity

Actual business progress up to 30 November 2021

業務目標及策略

業務計劃及活動

截至2021年11月30日的實際業務進展

(1) Upgrade club facilities

Renovate and refurbish Fly

. Execute planned renovation at Fly (currently
known as Mudita)

Renovate and refurbish Volar, Paper Street and
Faye

. Set up project team

. Engage contractors for the renovation and
refurbishment

. Engage designers for the concept of
renovation and refurbishment

. Carry out renovation and refurbishment

. Renovation and refurbishment of Fly (currently
known as Mudita) was completed in October
2018. A further small scale of renovation was
carried out and completed in May 2021.

. We have set up a project team and obtained
quotation from various contractors and
designers.

. A small part of renovation and refurbishment
of Volar were carried out during the period
between December 2019 and February 2020.

. Paper Street was carrying out a small renovation
work during the period between December 2019
and February 2020 in order to enhance the
customers’ satisfaction.

. We have reinstated the volar upon expired on
tenancy agreement.

. Faye was carrying out small renovation work
during the period between June 2021 to October
2021 in order to enhance the customers’
satisfaction





經調整計劃所載未來計劃及所得
款項淨額的計劃動用金額乃基於
編製2018年5月公告及2021年3月
公告時對未來市況的最佳估計及
假設作出,而所得款項淨額乃按照
本集團業務及行業的實際發展予
以動用。招股章程所載業務目標與
本集團截至2021年11月30日實際
業務進展的比較分析載列如下:



Business objective and
strategy

Business plan and activity

Actual business progress up to 30 November 2021

業務目標及策略

業務計劃及活動

截至2021年11月30日的實際業務進展

(1) 升級會所設施

整修及翻新Fly

. 執行Fly(現稱Mudita)的計劃整修

整修及翻新Volar、Paper Street及Faye

. 成立項目團隊

. 委聘承包商進行整修及翻新工程

. 委聘設計師制定整修及翻新工程的概念

. 開展整修及翻新工程

. Fly(現稱Mudita)的整修及翻新工程經已於
2018年10月完成。另有整修工程於2021年5月
展開並完成。


. 我們已成立項目團隊,並自多家承包商及設計
師取得報價。


. 於2019年12月至2020年2月期間開展小部分
Volar整修及翻新工程。


. 於2019年12月至2020年2月期間開展小部分
Paper Street翻新工程,以提高客戶滿意度。


. Volar已於租賃協議屆滿後恢復物業原狀。


. 於2021年6月至2021年10月期間開展小部分
Faye翻新工程,以提高客戶滿意度。


(2) Continue to expand
and diversify the outlet
network for the club
operation

Establish sports-themed bars

. Execute planned establishment of the first
sports-themed bar

. Explore opportunities with cooperation
partners and conduct feasibility studies for
the second sports-themed bar

. A sports-themed bar, namely Paper Street, has
been opened on 20 July 2018.

. We had signed a new lease agreement with
landlord for our second sports-themed bar which
will be located in Central. During the reporting
period under review, we had commenced the
decoration of the second sports-themed bar.
The second sports-themed bar were commence
business in April 2021.

(2) 繼續擴大及多元化開拓
會所營運的門店網絡

開設運動主題酒吧

. 執行計劃開設首間運動主題酒吧

. 尋求與合作夥伴的合作機會及對第二間運
動主題酒吧進行可行性研究

. 我們已於2018年7月20日開設一間名為Paper
Street的運動主題酒吧。


. 我們與業主就將位於中環的第二間運動主題
酒吧簽訂新租賃協議。於回顧報告期內,我們
已開始裝修第二間運動主題酒吧。第二間運動
主題酒吧已在2021年4月開始營業。








Business objective and
strategy

Business plan and activity

Actual business progress up to 30 November 2021

業務目標及策略

業務計劃及活動

截至2021年11月30日的實際業務進展

(3) Continue to expand
and diversify the outlet
network for the restaurant
operations

Set up a standalone restaurant in Tsing Yi

. Execute planned establishment of a
standalone restaurant in Tsing Yi

Set up a standalone restaurant in Sheung Wan

. Execute planned establishment of a
standalone restaurant in Sheung Wan

Set up food court restaurants

. Set up a project team and conduct a
feasibility study

. A standalone restaurant in Tsing Yi was opened
on 16 December 2017, we had closed the
restaurant on mid-May 2021 upon expired on
tenancy agreement.

. A standalone restaurant in Sheung Wan was
opened on 15 June 2018 and its lease contract
was early terminated in mid-February 2020.

. We have set up a project team and conducted a
study of potential location regarding pedestrian
traffic, convenience, demographics, size,
structure and competition.

(3) 繼續擴大及多元化開拓
餐廳營運的門店網絡

在青衣開設一間獨立餐廳

. 在青衣開設一間獨立餐廳

在上環開設一間獨立餐廳

. 執行計劃在上環開設一間獨立餐廳

開設美食廣場餐廳

. 成立項目團隊,並進行可行性研究

. 我們已於2017年12月16日在青衣開設一間獨
立餐廳。於租賃協議屆滿後,我們已於2021年
5月中旬關閉該餐廳。


. 我們已於2018年6月15日在上環開設一間立餐
廳,其租賃合約已於2020年2月中旬提早終止。


. 我們已成立項目團隊,並就潛在位置的人流
量、便利度、人口特徵、大小、結構及競爭進
行研究。






It is expected that the remaining net proceeds
will be fully utilised by 31 May 2023 in
accordance with the revised intended use as
stated in the March 2021 Announcement.

Details of change of use of proceeds are set out
in the May 2018 Announcement and March 2021
Announcement.

The unutilised net proceeds from the Listing are
placed in the bank accounts of the Group.

預計餘下所得款項淨額將於2023
年5月31日之前根據2021年3月公
告中所述的經修訂擬定用途獲悉
數動用。


有關變更所得款項用途的詳情載
於2018年5月公告及2021年3月公
告內。


未動用的上市所得款項淨額均存
放於本集團的銀行賬戶。




PRINCIPAL RISKS AND UNCERTAINTIES

There are certain risks involved in the operations
of the Group’s business. Set forth below are
some of the major risks that could materially and
adversely affect the Group.

1) In order to expand and diversify our outlet
network, we expect to establish more
sports-themed bars and set up more
restaurants in Hong Kong. The food and
beverage and entertainment industry
in Hong Kong is highly competitive.
Our ability to successfully open new
outlets is subject to a number of risks
and uncertainties, including identifying
suitable locations and/or securing leases
on reasonable terms, timely securing
necessary governmental approvals
and licences, ability to hire quality
personnel, timely delivery in decoration
and renovation works, securing sufficient
customer demand, securing adequate
suppliers and inventory that meet our
quality standards on timely basis,
reducing potential cannibalisation effects
between the locations of our outlets and
the general economic conditions. The
costs incurred in opening of new outlets
and the expansion plans may place
substantial strain on our managerial,
operational and financial resources. As
such, we cannot assure that we can
always operate the expanded outlets
network on a profitable basis or that
any new outlet will reach the planned
operating levels. If any new outlet
experiences prolonged delays in breaking
even or achieving our desired level of
profitability or operate at a loss, our
operational and financial resources could
be strained and our overall profitability
could be affected.

主要風險及不確定因素

本集團的業務營運涉及若干風險。

可能對本集團造成重大不利影響
的若干主要風險載列如下。


1) 我們預期在香港開設更多
運動主題酒吧及餐廳,以擴
大及多元化開拓門店網絡。

香港餐飲及娛樂行業的競
爭相當激烈。我們能否成功
開設新門店受多項風險及
不確定因素所限制,包括物
色合適位置及╱或以合理條
款訂立租約、及時取得必要
的政府批文和牌照、能否招
募高質素人員、及時完成裝
潢和整修工程、尋找充足的
客戶需求、及時覓得足夠的
供應商及符合我們質量標
準的存貨、降低我們鄰近門
店間的同質化影響及整體
經濟狀況。開設新門店及擴
張計劃所產生的成本可能
對我們的管理、營運及財務
資源構成沉重壓力。因此,
我們無法保證所經營的已
擴展門店網絡能一直賺取
盈利或任何新門店將達致
計劃營運水平。倘任何新門
店遲遲未能實現收支平衡
或達致我們理想的盈利水
平甚或錄得經營虧損,則可
能會導致我們的營運及財
務資源緊張,並影響我們的
整體盈利能力。




2) As we lease or license all of the
properties on which our outlets operate,
we are exposed to the fluctuations in the
commercial real estate market. There
is no objective way for us to accurately
predict the rental rates in the commercial
real estate market in Hong Kong, and
our substantial lease liabilities expose us
to potentially significant risks, including
increasing our vulnerability to adverse
economic conditions such as COVID-19
impact, limiting our ability to obtain
additional financing and reducing our
cash available for other purposes. Any
non-renewal (whether as a result of the
landlord’s or licensor’s or our decision) or
termination of any of our leases or licence
or substantial increased rentals or licence
fees could cause us to close down the
relevant outlet or the need to relocate to
another site, depending on our business
needs or performance from time to time.
In such events, we could face a drop in
sales, write off leasehold improvements,
and could incur relocation costs for
renovation, removal and resources
allocation, which could in turn result in
financial strain in our operations and
diversion of management resources.

2) 由於我們門店經營所在的
全部物業均為租賃或特許
物業,故我們面對商業房地
產市場波動的風險。我們並
無準確預測香港商業房地
產市場租金水平的客觀方
法,故我們的大量租賃負債
可能使我們面臨重大風險,
包括使我們更易受不利經
濟狀況(如2019冠狀病毒病
影響)影響、限制我們取得
額外融資的能力及減少我
們可用於其他用途的現金。

任何不續約或不續許可(不
論是業主或許可人抑或我
們自行決定),或終止我們
的任何租約或許可,或租金
或許可費用大幅上漲均可
能導致我們關閉相關門店
或需將其遷至別處,視乎我
們不時的業務需求或表現
而定。在該等情況下,我們
可能面臨銷售額下跌、撇銷
租賃物業裝修以及可能因
整修、拆除及資源配置產生
搬遷成本,進而導致我們的
營運資金緊張及管理資源
分散。




3) For each of the six months ended 30
November 2020 and 2021, our purchases
from our largest supplier accounted for
approximately 26.0% and 38.3% of our
total purchases, respectively. We make
purchases from our largest supplier under
individual purchase order, and have not
entered into any long term contract with
it. If our largest supplier for any reason
reduces the volume supplied to us or
cease to supply to us, we will need to
find alternative suppliers on similar sale
terms and conditions acceptable to us.
If we fail to do so in a timely manner, the
operations of our clubs will be interrupted,
our costs may increase and our business,
financial condition, results of operations
and growth prospects may therefore be
materially and adversely affected.

To address the above risks and uncertainties,
the Directors will closely monitor the progress of
the expansion plan and to operate the expanded
network on a profitable basis. The Directors will
continue to review and evaluate the business
objective and strategy and make timely execution
by taking into account the business risks and
market uncertainties.

3) 截至2020年及2021年11月30
日止六個月,來自最大供應
商的採購量分別佔我們總採
購量約26.0%及38.3%。我們
根據個別採購訂單向最大供
應商作出採購,且並無訂立
任何長期合約。倘最大供應
商因任何理由削減對我們的
供應量或停止向我們供應,
則我們將需按我們可接受的
相似銷售條款及條件物色替
代供應商。倘我們未能及時
物色替代供應商,則我們的
會所將會中斷營運,成本或
會上升,而我們的業務、財
務狀況、經營業績及發展前
景可能因而受到重大不利影
響。


為了應對上述風險及不確定因素,
董事將密切監察擴張計劃的進度
及以按盈利基準經營已擴展網絡。

董事將繼續檢討及評估業務目標
與策略,並於考慮業務風險及市場
不確定因素後及時執行有關目標
與策略。




The risk from COVID-19

1) The outbreak of COVID-19 suspending
or limiting services in Hong Kong, the
business activities of the Company
generally been suspended or slowed
down. The Directors expect the Company
to record a significant decrease in sales
and may have an adverse Impact on the
Group’s financial performance for the year
of 2021. The Group is closely observing
the development of the outbreak of the
COVID-19 while carrying out cost control
measures to alleviate the overall impact of
the outbreak on the business operations
and financial position of the Group.

2) The continuing spread and prolonged
occurrence of COVID-19 could have an
adverse effect on the tourism Industry
in Hong Kong. All these factors may
have adverse impact on our business,
operation, financial condition and
prospects. The Group is closely observing
the development of the outbreak of the
COVID-19 and the effect on the tourism
industry. The management will closely
monitor the development and change its
policy and/or menu to match the taste of
both the tourists and local customers.

來自2019冠狀病毒病的風險

1) 2019冠狀病毒病爆發令香
港服務暫停或減少,本公司
的業務活動整體中斷或放
緩。董事預期,本公司的銷
售額將大幅減少,此可能對
本集團2021年的財務表現
造成不利影響。本集團正密
切觀察2019冠狀病毒病爆
發的事態發展,同時實施成
本控制措施以減輕有關爆
發對本集團業務運營及財
務狀況的整體影響。


2) 2019冠狀病毒病持續擴散
及疫情持續可能對香港的
旅遊業造成不利影響。所有
該等因素均可能會對我們
的業務、運營、財務狀況及
前景產生不利影響。本集團
正密切觀察2019冠狀病毒
病爆發的事態發展以及對
旅遊業的影響。管理層將密
切監控發展情況,並更改其
政策及╱或菜單,以迎合遊
客及本地顧客的口味。




MATERIAL ACQUISITIONS AND
DISPOSAL OF SUBSIDIARIES

Save as disclosed below and in this report, the
Group did not carry out any material acquisition
nor disposal of any subsidiaries for the six
months ended 30 November 2021.

On 13 August 2021, each of Castle Team and
the other six new investors entered into a shares
subscription agreement with Crown Grand and
Lively World, pursuant to which Castle Team
and the new investors agreed to subscribe for
a total of 30 new shares in Crown Grand for a
total subscription price of HK$6 million in cash.
The transaction completed on 20 August 2021,
and since then Crown Grand held as to 28%
by the new investors, 0.98% by non-controlling
interest of Castle Team and 71.02% by the Group
(comprising 70% via Lively World and 1.02% via
Castle Team).

The proceeds from the transaction can provide
Crown Grand with additional funds to enhance
its working capital for the operation of Faye.
Moreover, the Group could leverage on the
experience and network of the said subscribers
to tap into the sports-themed bar and club market
in Hong Kong. It is expected that the proceeds
will be fully utilised on or before 31 May 2022.

DIVIDENDS

No dividend has been paid or declared by the
Company, or by any of the companies now
comprising the Group for the six months ended
30 November 2020 and 2021.

重大收購及出售附屬公司

除於下文及本報告內所披露者外,
截至2021年11月30日止六個月,
本集團並無進行任何重大收購或
出售任何附屬公司。


於2021年8月13日,Castle Team
及其他6名新投資者各自與Crown
Grand及Lively World訂立了股份
認購協議,根據該等協議,Castle
Team及新投資者同意以總認購
價6,000,000港元現金認購Crown
Grand總計30股新股份。此交易
已於2021年8月20日完成,自此,
Crown Grand由新投資者持有28%
股權,由Castle Team非控股權益
持有0.98%及由本集團持有71.02%
股權(由透過Lively World持有的
70%股權及透過Castle Team持有
的1.02%股權組成)。


交易所得款項可為Crown Grand提
供額外資金以改善其營運資金以
經營Faye。此外,本集團可憑藉上
述認購方的經驗及網絡進入香港
的運動主題酒吧及會所市場。預計
所得款項將於2022年5月31日或之
前獲悉數動用。


股息

截至2020年及2021年11月30日止
六個月,本公司或本集團現時旗下
任何公司概無派付或宣派股息。




DIRECTORS’ AND CHIEF EXECUTIVES’
INTERESTS IN SHARES OF THE
COMPANY

Save as disclosed below, as at 30 November
2021, none of the Directors or chief executive
of the Company or their associates had any
interests and short positions in the shares,
underlying shares or debentures of the
Company or its associated corporations (within
the meaning of Part XV of the SFO) which are
required (a) to be notified to the Company and
the Stock Exchange pursuant to Divisions 7 and
8 of Part XV of the SFO (including interests or
short positions which they are taken or deemed
to have under such provisions of the SFO); or (b)
pursuant to section 352 of the SFO, to be entered
in the register referred to therein; or (c) pursuant
to the rule 5.46 of the GEM Listing Rules to be
notified to the Company and the Stock Exchange:

Long positions in shares of the Company

Name of Directors

Capacity/Nature of Interest

Number of shares

and underlying shares

Percentage of

shareholding

董事姓名

身份╱權益性質

股份及相關股份數目

股權百分比

Mr. Jiang Qiaowei

Beneficial owner

400,000

0.04%

蔣喬蔚先生

實益擁有人

Mr. Hui Wai Hung Note 1

Beneficial owner

400,000

0.04%

許維雄先生註1

實益擁有人

Mr. Pong Chun Yu Note 1

Beneficial owner

400,000

0.04%

龐振宇先生註1

實益擁有人





Note 1:

Their respective interests refer to 400,000 underlying
shares in respect of the share options granted
respectively to them pursuant to the share option
scheme. As at 30 November 2021, such options were
not exercised.

董事及最高行政人員於本
公司股份中之權益

除下文所披露者外,於2021年11月
30日,本公司董事或最高行政人員
或彼等的聯繫人概無於本公司或
其相聯法團(定義見證券及期貨條
例第XV部)的股份、相關股份或債
權證中,擁有(a)根據證券及期貨
條例第XV部第7及8分部須知會本
公司及聯交所的任何權益及淡倉(包
括根據證券及期貨條例的有關條
文彼等被當作或視為擁有的權益
或淡倉);或(b)根據證券及期貨條
例第352條須記錄於該條所指登記
冊內的任何權益及淡倉;或(c)根
據GEM上市規則第5.46條須知會本
公司及聯交所的任何權益及淡倉:

於本公司股份中的好倉

註1:

彼等權益為根據購股權計劃所分別授予
彼等之購股權中所對應的400,000股相
關股份。截至2021年11月30日,該等購
股權並未行使。




SUBSTANTIAL SHAREHOLDERS’
INTERESTS IN SHARES OF THE
COMPANY

Save as disclosed below, as at 30 November
2021, to the best knowledge of the Directors
or chief executive of the Company, no person
(other than a Director or chief executive of the
Company) had interests or short positions in the
shares or underlying shares of the Company,
as recorded in the register maintained by the
Company pursuant to section 336 of the SFO:

Long positions in shares of the Company

Name

Capacity/Nature of Interest

Number of shares

Percentage of
shareholding

姓名╱名稱

身份╱權益性質

股份數目

股權百分比

Mr. Sze Ching Lau

Beneficial owner

359,590,000

36.0%

施清流先生

實益擁有人





DIRECTORS’ SECURITIES
TRANSACTIONS

The Group adopted rules 5.48 to 5.67 of the
GEM Listing Rules as its own code of conduct
regarding Directors’ securities transactions.
Having made specific enquiries with all the
Directors, all Directors have confirmed that
they have complied with the required standard
of dealings set out in the code of conduct for
Directors’ securities transactions during the six
months ended 30 November 2021.

主要股東於本公司股份之
權益

除下文所披露者外,於2021年11
月30日,就本公司董事或最高行政
人員所知,概無人士(除本公司董
事或最高行政人員外)於本公司股
份或相關股份中擁有記錄於本公
司根據證券及期貨條例第336條存
置的登記冊內的權益或淡倉:

於本公司股份中的好倉

董事進行證券交易

本集團已採納GEM上市規則第5.48
至5.67條作為其本身有關董事進行
證券交易的操守守則。經向全體董
事作出具體查詢後,全體董事已確
認,彼等於截至2021年11月30日
止六個月期間一直遵守有關董事
進行證券交易的操守守則所載交
易必守標準。




SHARE OPTION SCHEME

The Company has adopted a share option
scheme (“Share Option Scheme”) on 14 March
2017. Details of the principal terms of the Share
Option Scheme, please refer to “15. Share option
scheme” on page IV-11 of the Prospectus.

Share Option

On 8 March 2021, the Company has granted
share options (“Options”) to certain eligible
grantees (“Grantees”) under its Share Option
Scheme, enabling the Grantees to subscribe for
an aggregate of 68,800,000 ordinary shares of
the Company at an exercise price of HK$0.385
per share with 5 years from the date of grant, of
which each of the independent non-executive
Directors, Mr. Hui Wai Hung, Mr. Jiang Qiaowei
and Mr. Pong Chun Yu have been granted
400,000 Options (for details, please refer to the
announcement of the Company dated 8 March
2021).

Share Option Movements

On 18 March 2021, a total of 68,800,000 share
options were granted to directors, employees
and consultants of the Company. As at 30
November 2021, there were a total of 30,000,000
outstanding share options. Particulars and
movements of the share options granted under
the Share Option Scheme during the six months
ended 30 November 2021 are summarised as
below.

購股權計劃

本公司於2017年3月14日採納一項
購股權計劃(「購股權計劃」)。有關
購股權計劃主要條款的詳情,請參
閱招股章程第IV-11頁「15.購股權
計劃」。


購股權

於2021年3月8日,本公司根據其
購股權計劃向若干合資格承受
人(「承授人」)授出購股權(「購股
權」),促使承受人自授出日期起
計5年內按行使價每股0.385港元
認購本公司合共68,800,000股普通
股,其中各獨立非執行董事,即許
維雄先生、蔣喬蔚先生及龐振宇先
生各自獲授出400,000份購股權(有
關詳情,請參閱本公司日期為2021
年3月8日之公告)。


購股權變動

於2021年3月18日,合共68,800,000
份購股權乃授予本公司董事、僱員及
顧問。於2021年11月30日,尚未行使
購股權合共30,000,000份。截至2021
年11月30日止六個月,根據購股權
計劃授出的購股權詳情及變動概述如
下。




Movement of share options granted to Directors
during the six months ended 30 November 2021:

Number of share options

購股權數目

Name of director

Date of grant

As at

1 June

2021

Granted

during the

period

Exercised

during

the period

As at

30 November

2021

Exercise

price

Exercise period

董事姓名

授出日期

於2021年

6月1日

期內

已授出

期內

已行使

於2021年

11月30日

行使價

行使期

Mr. Hui Wai Gung

8 March 2021

400,000





400,000

0.385

8 March 2021 to
7 March 2026

許維雄先生

2021年3月8日

2021年3月8日至
2026年3月7日

Mr. Pong Chun Yu

8 March 2021

400,000





400,000

0.385

8 March 2021 to
7 March 2026

龐振宇先生

2021年3月8日

2021年3月8日至
2026年3月7日









800,000





800,000





















Movements of share options granted to
employees of the Group during the six months
ended 30 November 2021:

Number of share options

購股權數目

Date of grant

As at

1 June

2021

Granted

during

the period

Exercised

during

the period

Lapsed

during

the period

As at

30 November

2021

Exercise

price

Exercise period

授出日期

於2021年

6月1日

期內

已授出

期內

已行使

期內

已失效

於2021年

11月30日

行使價

行使期

8 March 2021

10,000,000







10,000,000

0.385

8 March 2021 to
7 March 2026

2021年3月8日

2021年3月8日至
2026年3月7日





















於截至2021年11月30日止六個月
向董事授出的購股權變動:

於截至2021年11月30日止六個月
向本集團僱員授出的購股權變動:



Movements of share options granted to
consultants of the Group during the six months
ended 30 November 2021:

Number of share options

購股權數目

Date of grant

As at

1 June

2021

Granted

during

the period

Exercised
during

the period

Lapsed

during

the period

As at

30 November

2021

Exercise

price

Exercise period

授出日期

於2021年

6月1日

期內

已授出

期內

已行使

期內

已失效

於2021年

11月30日

行使價

行使期

8 March 2021

19,200,000







19,200,000

0.385

8 March 2021 to
7 March 2026

2021年3月8日

2021年3月8日至
2026年3月7日





















PURCHASE, SALE OR REDEMPTION
OF THE COMPANY’S LISTED
SECURITIES

Neither the Company nor any of its subsidiaries
has purchased, sold or redeemed any of the
Company’s listed securities during the six months
ended 30 November 2021.

DIRECTORS’ INTERESTS IN
CONTRACTS

For the six months ended 30 November 2021,
no Director had a significant beneficial interest,
either directly or indirectly, in any contract of
significance to the business of the Group to
which the Company or any of its subsidiaries was
a party.

於截至2021年11月30日止六個月
向本集團顧問授出的購股權變動:

購買、出售或贖回本公司上
市證券

截至2021年11月30日止六個月,
本公司及其任何附屬公司概無購
買、出售或贖回本公司任何上市證
券。


董事於合約的權益

截至2021年11月30日止六個月,
概無董事直接或間接於本公司或
其任何附屬公司所訂立且對本集
團業務屬重大的任何合約中擁有
重大實益權益。




CORPORATE GOVERNANCE
PRACTICES

The Company endeavors to adopt prevailing best
corporate governance practices and has applied
the Corporate Governance Code (“CG Code”)
as contained in Appendix 15 of the GEM Listing
Rules. The Board has reviewed the Company’s
corporate governance practices and has formed
the opinion that the Company throughout the six
months ended 30 November 2021 and up to the
date of this report, has complied with the CG
Code except for the following deviation.

Pursuant to the code provision A.2.1 of the CG
Code, which stipulates that the roles of chairman
and chief executive officer should be separate
and should not be performed by the same
individual. Accordingly, following the resignation
of Mr. Wong Kui Shing Danny as chief executive
officer of the Company and replaced by Mr.
Wong Chi Yung, there will be a deviation from
the code provision A.2.1 by the Company as Mr.
Wong Chi Yung is also the chairman of the board.

Notwithstanding the aforesaid deviation, the
Board considers that the present structure will
not impair the balance of power and authority
between the Board and the management of
the Group as the Board assumes collective
responsibility on the decision-making process
of the Company’s business strategies and
operation. Nevertheless, the Company will
continue to review its operation and seek to
re-comply with the code provision A.2.1 of the CG
Code by splitting the roles of chairman and chief
executive officer at a time when it is appropriate
to increase the independence of corporate
governance of the Group.

Information on corporate governance practices
adopted by the Company is set out in the
Corporate Governance Report on pages 29 to 51
of the 2021 Annual Report.

企業管治常規

本公司努力採用現行最佳企業管
治常規,並應用了GEM上市規則附
錄十五所載企業管治守則(「企業管
治守則」)。董事會已審閱本公司企
業管治常規並表示除下述偏離外,
本公司已於截至2021年11月30日
止六個月整個期間及直至本報告
日期遵守企業管治守則。


本公司根據企業管治守則的守則
條文第A.2.1條的規定,主席及行政
總裁的角色應有區分,而且不應由
一人同時兼任。因此,緊隨王鉅成
先生辭任本公司行政總裁並由王
志勇先生接替後,由於王志勇先生
亦為董事會主席,故本公司於守則
條文第A.2.1條的規定有所偏離。


儘管存在上述偏離,董事會認為現
時架構不會影響董事會與本公司
管理層之間的權力及授權平衡,因
董事會對本公司業務策略及營運
的決策過程共同承擔責任。儘管如
此,本公司將繼續審視其營運,在
合適時候分開主席及行政總裁的
角色以增加本集團企業管治的獨
立性,尋求重新遵守企業管治守則
的守則條文第A.2.1條的規定。


本公司採納的企業管治慣例資料
載於2021年報第29至51頁的企業
管治報告內。




EVENTS AFTER REPORTING PERIOD

The Hong Kong government has tightened social
distancing measures since 7 January 2022 for
a period of 14 days, including closure of bars,
pubs and places of amusement. Under such
measures, business operations of the night
clubs, sports-themed bar and entertainment
studio under the Group will be brought to major
disruptions. According to observation to past
pattern of evolvement of the COVID-19 epidermic
situation in Hong Kong, the Group expects that
the social distancing measures will continue to be
tightened in the near future and that the financial
results of the Group will be adversely impacted
accordingly.

REVIEW OF THE UNAUDITED
CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS

The audit committee of the Company had
reviewed the unaudited financial statements of
the Group for the six months ended 30 November
2021 with the management and is of the view
that such results complied with the applicable
accounting standards, the requirements under
the GEM Listing Rules and other applicable legal
requirements, and that adequate disclosures had
been made.

The unaudited interim financial statements of the
Group for the six months ended 30 November
2021 were approved and authorised for issue by
the Board on 14 January 2022.

報告期後事項

香港政府自2022年1月7日起收緊
社交距離政策,為期14天,其中包
括關閉酒吧、酒館及遊樂場所。在
該等措施下,本集團旗下晚上會
所、運動主題酒吧及娛樂中心的
營運將遭受重大中斷。據對此前
COVID-19疫情發展規律的觀察,
本集團預期社交距離政策於不久
將來將持續收緊,而本集團的業績
將因而受到負面影響。


審閱未經審核簡明綜合財
務報告

本公司審核委員會已與管理層審
閱本集團截至2021年11月30日止
六個月的未經審核財務報表,並認
為有關業績的編製符合適用的會
計準則、GEM上市規則的要求以及
其他適用的法律要求,並已作出充
分披露。


董事會於2022年1月14日批准並授
權刊發本集團截至2021年11月30
日止六個月的未經審核中期財務
報表。




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