CBK Holdings Limited released its interim results for the six months ended 30 September 2025.
Financial Highlights • Revenue from continuing operations rose 18.30% year-on-year to HK$14.16 million (2024: HK$11.96 million), supported mainly by the “Lantern” Chinese-cuisine restaurant in Causeway Bay, which contributed about 94.7% of segment turnover. • Cost of inventories sold fell 7.04% to HK$4.08 million, lifting gross profit to HK$10.08 million (2024: HK$7.58 million) and expanding gross margin to 71.2% (2024: 63.4%). • Administrative and other operating expenses dropped 58.07% to HK$2.61 million after streamlining operations and closing loss-making outlets. • Loss attributable to owners narrowed sharply to HK$2.69 million (2024: HK$8.96 million). Basic loss per share improved to HK$0.02 from HK$0.08. • Net liabilities totalled HK$7.64 million (31 March 2025: HK$5.77 million). The gearing ratio (total liabilities/total assets) stood at 162.1%, while current and quick ratios remained at 0.3. Cash and cash equivalents were HK$1.33 million.
Operational Developments • Hong Kong: The Group ceased its loss-making “一韓燒” restaurant in San Po Kong in May 2025, focusing resources on profitable outlets. • Mainland China: – In June 2025, a 51:49 joint venture, Han Nuo Jia Chi (Chengdu) Technology Co., Ltd., was formed to develop catering and food-supply-chain businesses in Southwest China. – In July 2025, the JV acquired 51% of Sichuan Runjiang Qinghong Technology Co., Ltd. for approximately HK$1.10 million, adding supply-chain capability and creating goodwill of about HK$0.80 million. – Two new restaurants in Chengdu are scheduled to open in December 2025 and March 2026, marking the Group’s first self-operated mainland outlets. • A frozen food and seafood supply-chain business is slated for launch in the second half of FY2026 to diversify revenue streams.
Capital Structure and Liquidity • Total assets reached HK$12.30 million; total liabilities were HK$19.94 million. • Trade payables, accruals and other payables amounted to HK$12.93 million; amounts due to non-controlling interests rose to HK$2.74 million. • An unsecured bond of HK$1.00 million, carrying a 36% coupon, was outstanding at period-end and subsequently repaid in December 2025.
Governance and Compliance • The Company complied with all Corporate Governance Code provisions except for C.2.1, as the chief executive post remains vacant; executive directors collectively oversee CEO duties. • No share options were outstanding after 224,454 options previously held by a former director were forfeited in April 2025. • Neither the Company nor its subsidiaries purchased, sold or redeemed any listed securities during the period.
Outlook Management will maintain its dual-focus strategy: consolidating Hong Kong operations while accelerating expansion in Mainland China through new restaurants and a food-supply-chain platform aimed at fostering sustainable growth.