FUTURE BRIGHT2025年中期报告

CONTENTS 2Financial Highlights3Chairman’s Statement8Management Discussion and Analysis37Condensed Consolidated Statement ofComprehensive Income38Condensed Consolidated Statement ofFinancial Position40Condensed Consolidated Statement ofChanges in Equity 41Condensed Consolidated Statement ofCash Flows43Notes to the Condensed ConsolidatedInterim Financial Statements70Group’s Properties71List of Restaurants/Food CourtCounters/Stores75List of Food Souvenir Shops/Kiosks77Corporate Information79Definitions The Directors are pleased to present to our Shareholders this interimreport of the Group for the Period. In the Period, the Group has recorded an increase in turnover of some3.0% from its businesses in Macau and Hong Kong due to an increasein the level of visitor arrivals to Macau and Hong Kong with the recoveryof tourism. The Group recorded a profit attributable to owners of theCompany of some HK$8.6 million in the Period, as compared to a profitattributable to owners of the Company of some HK$0.5 million of thesame period of last year, representing a period-on-period increase ofapproximately 1,620.0%. 3.0%8,600,000500,0001,620.0% The Group’s profit attributable to owners of the Company of someHK$8.6 million in the Period has been mainly attributable to (i) a profitattributable to owners of the Group’s food and catering business of someHK$5.8 million, (ii) a profit attributable to owners of the Group’s foodsouvenir business of some HK$5.6 million and (iii) a profit attributable toowners of the Group’s property investment business of some HK$1.4million. 8,600,000(i)5,800,000(ii)5,600,000(iii)1,400,000 The Group has also recorded for the Period: 3.0% (i)an increase of some 3.0% in turnover as compared to that of thesame period of 2024; (ii)1.1%0.7%1.0%22.1% (ii)a decrease of some 1.1% in cost of sales (food costs), an increaseof some 0.7% in direct operating expenses, an increase of some1.0% in administrative expenses, and a decrease of some 22.1%in finance costs, as compared to that of the same period of 2024; (iii)24.4% in gross operating profit ratio as compared to 22.1% forthe same period of 2024; (iii)24.4%22.1% (iv)a profit attributable to owners of the Company of some HK$8.6million as compared to some HK$0.5 million for the same periodof 2024; (iv)8,600,000500,000 (v)a gross margin ratio of some 76.4% with an EBITDA at someHK$49.9 million as against a gross margin ratio of some 75.5%with an EBITDA at some HK$44.8 million for the same period of2024; (v)76.4%EBITDA49,900,00075.5%EBITDA44,800,000 (vi)3.0%19.0% (vi)an increase of some 3.0% in the same store performance of itsrestaurants and industrial catering business, and an increase ofsome 19.0% in the same store performance of its food souvenirbusiness, as compared to that of the same period of 2024; and (vii)the Net Ordinary Operating Profit of some HK$12.1 million, asagainst some HK$0.5 million for the same period of 2024. (vii)12,100,000500,000 As at 30 June 2025, the Group has recorded a net fair value loss of someHK$3.5 million in respect of the Key Investment Property which has beenvalued by an independent professional valuer at some HK$546.0 million(31 December 2024: HK$550.0 million). 3,500,000546,000,000550,000,000 After considering the Group’s financial position and in order to preservecashflow for the Group’s working capital, the Directors do not propose todeclare and pay out any interim dividend in respect of the Period. With the recovery of tourism and an increase in the level of visitor arrivalsto Macau and Hong Kong, despite the drop in per-capita spending ofvisitors, the Group’s performance had a good improvement in the Period.However, the challenges faced by the food and catering industry stillpersist, such challenges include economic slowdown, cautious visitors’spending, and a change in the consumption behaviour of Mainland Chinavisitors to Macau and Hong Kong. In the Period, the level of visitor arrivals to Macau has recorded anincrease of 14.9%, with a total of 19,218,540 visitors to Macau havebeen recorded as compared to 16,719,983 visitors in the same period of2024. The performance of the Group’s food and catering business andfood souvenir business in Macau have performed in line with the increasein the level of visitor arrivals. 14.9%19,218,54016,719,983 8367174広TORI-NO-SUKEBUCHITON In the Period, the Group did not open any restaurants in Macau andin Hong Kong. Detailed breakdown of the performance of the Group’sdifferent restaurants during the Period is set out in the section headed“Management Discussion and Analysis” on pages 8 to 36 of this interimreport. Details of the list of the restaurants of this business are setout in the section headed “List of Restaurants/Food Court Counters/Stores” on pages 71 to 74 of this interim report. The Group has on 9July 2025 renewed its franchise to operate “BARI-UMA”, “FU-UN-MARURAMEN”, “TORI-NO-SUKE” and “BUCHITON” ramen restaurants for 10years in Hong Kong, with a