v3.26.1
Consolidated Statements of Cash Flows
 12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2025
HKD ($)
Dec. 31, 2024
HKD ($)
Dec. 31, 2023
HKD ($)
Cash flows from operating activities        
(Loss)/profit before tax $ (5,852,409) $ (45,551,045) $ 35,614,151 $ (29,788,123)
Adjustments for:        
Interest income (62,215) (484,236) (682,409) (515,980)
Interest expenses 741,752 5,773,284 4,595,959 5,149,089
Depreciation of property, plant and equipment 3,549,440 27,626,357 34,038,855 35,795,951
Amortisation of right-of-use assets 5,006,718 38,968,788 44,562,079 48,467,296
Impairment loss on disposal group classified as held for sale 23,545,499
Interest on lease liabilities 505,161 3,931,817 5,594,836 6,300,014
Written-off of property, plant and equipment 15,521 120,803 526,279 6,702,181
Impairment of property, plant and equipment 241,205 1,877,371 4,549,381
Impairment of right-of-use assets 527,031 4,102,040 5,013,080
Share-based payment 1,503,218 11,700,000
Gain on disposal of subsidiaries (58,678,325)
Operating cash flows before movements in working capital 6,175,422 48,065,179 75,133,886 95,655,927
Decrease/(increase) in amounts due from related companies 169,715 1,320,942 45,064,210 (78,147)
Decrease in amounts due from shareholders 9,521 74,100
(Increase)/decrease in inventories (399,007) (3,105,593) 4,768,410 5,146,061
(Increase)/decrease in trade receivables (10,921) (85,001) 5,581,582 (5,149,129)
Increase in deposits, prepayments and other receivables (200,162) (1,557,923) (3,408,599) (5,696,237)
Decrease in amounts due to directors (5,469,866) (42,573,611) (67,214,294) (224,388)
Increase in amounts due to related companies 30,429 236,837 18,963 35,894
(Decrease)/increase in trade payables (525,408) (4,089,406) 972,847 (1,580,470)
(Decrease)/increase in accruals and other payables (273,784) (2,130,946) 8,675,330 2,797,231
Cash (used in)/generated from operations (494,061) (3,845,422) 69,592,335 90,906,742
Interest received 62,215 484,236 682,409 515,980
Income tax paid (1,190,398) (9,265,222) (10,108,560) (7,598,311)
Net cash (used in)/generated from operating activities (1,622,244) (12,626,408) 60,166,184 83,824,411
Cash flows from investing activities        
Purchase of property, plant and equipment (176,746) (1,375,666) (11,991,530) (44,512,104)
Net cash outflow from deconsolidation of subsidiaries (189,912)
Proceeds from disposal of property, plant and equipment 8,086 62,934 61,239
Net cash used in investing activities (168,660) (1,312,732) (12,181,442) (44,450,865)
Cash flows from financing activities        
Interest paid for bank loans (253,431) (1,972,532) (2,645,713) (2,863,104)
Proceed from loans from directors 5,457,018 42,473,611
Gross proceeds from issuance of ordinary shares 8,650,567 67,329,957
Listing expense paid in relation to issuance of new ordinary shares (978,547) (7,616,332)
Interest paid for loans from related companies (13,888) (108,096) (1,950,246) (2,285,985)
Repayment of principal portion of bank loan (1,030,881) (8,023,653) (7,569,370) (8,489,298)
Repayment of principal portion of loans from related companies (115,719) (900,676) (10,190,497) (13,950,673)
Interest elements of lease rentals paid (505,161) (3,931,817) (5,594,836) (6,300,014)
Repayment of principal portion of lease liabilities (5,515,131) (42,925,920) (48,883,789) (47,679,212)
Net cash generated from/(used in) financing activities 5,694,827 44,324,542 (76,834,451) (81,568,286)
Net increase/(decrease) in cash and cash equivalents 3,903,923 30,385,402 (28,849,709) (42,194,740)
Cash and cash equivalents at beginning of the year 15,075,355 117,336,010 146,213,744 196,296,774
Bank balances and cash transfer to assets classified as held for sale (7,884,815)
Effect of foreign exchange rate changes (808) (6,287) (28,025) (3,475)
Cash and cash equivalents at end of the year $ 18,978,470 $ 147,715,125 $ 117,336,010 $ 146,213,744