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Public company info - Chinese Food and Beverage Group Ltd. , 08272.HK
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Chinese Food and Beverage Group Ltd., 08272.HK - Company Profile
Chairman -
Share Issued (share) 79,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Restaurants & Fast Food Shops
Corporate Profile Business Summary: The principal activity of the Group is catering business and securities trading. Performance for the year: During the year ended 31 December 2019 (the “Reporting Period”), the Group recorded a revenue of approximately HK$18,133,000 (2018: approximately HK$23,152,000), approximately representing a 22% decrease as compared with the last corresponding period. Business Review： Catering Business The segmental revenue of the catering business for the Reporting Period was approximately HK$18,133,000 (2018: approximately HK$23,152,000), representing a decrease of approximately 22% as compared with the previous corresponding period. The catering business mainly comprised two restaurants namely, Fooklore (享福) and Real Stone Grills (堅石燒). Fooklore (享福) Fooklore was tailored to provide Chinese banqueting services for corporate and family gatherings. After the renovation in July 2018, the revenue contributed by Fooklore could not achieve the satisfactory result. Due to the deteriorating business performance and consistent loss-making from, among other things, the inefficiencies in cost management, the Board considered that it would be unhealthy for the Group to keep operating the restaurant. Consequently, the operation in Fooklore was discontinued in June 2019. Real Stone Grills (堅石燒) In June 2019, the Group reallocated its resource to invest in a company by a majority stake of approximately 52.38% for launching a Korean restaurant under the name of Real Stone Grill. Real Stone Grill operates as a restaurant serving Korean cuisine and is located at Yau Tsim Mong District which is one of most densely populated district, having the highest flow of tourist and locals in Hong Kong. It is positioned as a middle end restaurant with approximately 3,000 square feet and around 100 seats to provide quality imported meat and a variety of Korean cuisine to customers who look for spacious and comfortable dining experience. Also there has an innovative facility which emits fragrant spray onto customers after dining so as to remove their smells of grilling. The Board is of the view that Real Stone Grill is expected to grow steadily and has a better performance than Chinese restaurant given that Korean restaurant is more competitive as it offers affordable pricing with mid-range price whereas the Chinese restaurant provides upper-end and expensive dining experience. Real Stone Grill has greater attraction to additional young customers than other traditional cuisine, accompanied by the spread of contemporary Korean pop-culture which is highly influential amongst young people in Hong Kong. Securities Trading There was no acquisition or disposal of any held-for-trading investments during the Reporting Period. Prospects: The Group’s catering business remains Real Stone Grills. The catering business in Hong Kong has been under an exceptionally adverse business environment since the start of the protest of the second half of 2019 and the COVID-19 in early 2020, local residents have also distanced themselves from dining activities in order to avoid cross contamination and prevent community outbreaks. The prevention and control of the epidemic has continued to be the core of the Group’s catering business. Notwithstanding the degree of impact of the COVID-19 will depend on the duration of the epidemic and prevention and control activities taken by the Government, the catering business in Hong Kong is challenging in the second half of 2020. The Group expects after the COVID-19 has been under control, the revenue generated by Real Stone Grill will continue to grow. In view of the above, management is actively seeking for potential business opportunities in the catering and food processing industry, aiming at further substantiating its existing operations together with its expansion plan on its Korean restaurants. Management believes through the acquisition of potential the catering and food processing could generate growing and sustainable income source for the Group.

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