| Related party transactions |
| 33. |
Related
party transactions |
In
addition to the transactions detailed elsewhere in these consolidated financial statements, the Group had the following transactions
with related parties during the year:-
Schedule
of transaction detailed in consolidated financial statements
| | |
2025 | | |
2025 | | |
2024 | | |
2023 | |
| | |
US$ | | |
HK$ | | |
HK$ | | |
HK$ | |
| | |
| | |
| | |
| | |
| |
| | |
| | |
| | |
| | |
| |
| Sales of goods to related companies | |
| | | |
| | | |
| | | |
| | |
| - related companies (Note (a)) | |
| 1,217,068 | | |
| 9,472,803 | | |
| 11,192,830 | | |
| - | |
| - a related company (Note (b)) | |
| - | | |
| - | | |
| - | | |
| 22,298 | |
| - a related company (Note (c)) | |
| 781 | | |
| 6,081 | | |
| - | | |
| 9,432 | |
| Rental income received related companies
(Note (a)) | |
| 134,828 | | |
| 1,049,405 | | |
| 626,517 | | |
| - | |
| Rental expenses to related companies (Note
(a)) | |
| 22,356 | | |
| 174,000 | | |
| 14,500 | | |
| - | |
| Rental expenses to related companies (Note
(b)) | |
| 588,506 | | |
| 4,580,520 | | |
| 3,715,200 | | |
| 4,188,400 | |
| Loan interest expenses to directors | |
| 284,369 | | |
| 2,213,331 | | |
| - | | |
| - | |
| Loan interest expenses to related companies
(Note (b)) | |
| 203,952 | | |
| 1,587,422 | | |
| 1,950,246 | | |
| 2,285,985 | |
| Storage expenses to related company (Note
(b)) | |
| 14,014 | | |
| 109,073 | | |
| 104,011 | | |
| 113,142 | |
| Management fee income
from related companies (Note (a)) | |
| 1,902,920 | | |
| 14,811,000 | | |
| 13,799,000 | | |
| - | |
The
above transactions were made at prices and terms in the normal course of business as agreed between the parties.
Note:
| (a) | These are the related companies to the Group because some of the directors
of the Group are part of the shareholders or ultimate shareholder in these related companies. |
| (b) | These are related companies to the Group because some of the directors
of the Group, are the close family member of the shareholder or ultimate shareholder in this related company. |
| | This
is a related company to the Group because one of the directors of the Group, is a close family
member of one of the shareholders in this related company. |
Compensation
of key management personnel and directors’ remuneration
Compensation of key management personnel of the Group during the year was
as follows:-
Schedule of compensation of key
management
| | |
2025 | | |
2025 | | |
2024 | | |
2023 | |
| | |
US$ | | |
HK$ | | |
HK$ | | |
HK$ | |
| | |
| | |
| | |
| | |
| |
| Short-term employee benefits | |
| | | |
| | | |
| | | |
| | |
| - other emoluments | |
| 827,610 | | |
| 6,441,539 | | |
| 4,508,852 | | |
| 7,680,000 | |
| Employer’s contribution
to defined contribution plans | |
| 13,298 | | |
| 103,500 | | |
| 76,500 | | |
| 108,000 | |
| | |
| | | |
| | | |
| | | |
| | |
| Short-term
employee benefits | |
| 840,908 | | |
| 6,545,039 | | |
| 4,585,352 | | |
| 7,788,000 | |
MasterBeef
Group and its subsidiaries
Notes
to the Consolidated Financial Statements (Continued)
December
31, 2025, 2024 and 2023
| 33. |
Related
party transactions (continued) |
As
at December 31, 2025, the parent and ultimate holding company of the Company was Galaxy Shine Company Limited, which was incorporated
in the British Virgin Islands. The shareholders of Galaxy Shine Company Limited are Chau Oi Wai, Chung Hee Shun, Chau Oi Yee, Leung Man Kit and
Chan Yuk Ming and their respective shareholdings in Galaxy Shine Company Limited are approximately 27.27%, 24.83%, 27.27%, 13.64% and
6.99%, respectively.
|