The Group aims to create long-term values for its Shareholders by building up a well-diversified business portfolio with hot prospects. In light of the slower-than-expected economic recovery in post-pandemic era, the persistent Russia-Ukraine and Israel-Hamas geopolitical conflicts as well as uncertainty about the path of interest rates, the Group will monitor its business development in cautious manner. 

Looking ahead to 2024, it will be a challenging year for our food and beverage services business. Macro-economic factors will continue to have substantial impacts on the global economy, including inflation, high yield curve as well as geopolitical tensions. The supply side is expected to continue to be influenced by elevated operating costs for raw materials, energy and logistics. In view of the dynamic market situations, the Group will take appropriate actions to enhance its profitability, such as building reliable relationships with a diverse list of suppliers from different sourcing territories, broadening the scope of its high margin product offerings and providing more value-added services to customers. With the support of our extensive client base, which consists mostly of reputable restaurants and retail chains, supermarkets, and wholesalers, we are confident in the long-term prospects of the food and beverage service business. We will also keep to pursue further possible business opportunities, including but not limited to engaging logistic partners to enhance efficiency in our inventory management.

The short-to-medium-term market headwinds, including inflation and interest rate hikes, global geopolitical tensions, recession risks in the Europe and debt defaults events brought by Mainland China’s property developers shall continue to dampen investor sentiment in 2024. In the midst of the high uncertainty, we will remain conservative in considering investment in securities or other financial products.

Given Hong Kong's strategic role as a global hub for offshore RMB business and a regional hub for green technology and finance, the Group believes Hong Kong will continue to take a leading position in the regional capital market. The Group has been looking into opportunities to expand its business portfolio in the financial sector. We aim at a progressive and balanced development of our recent entry in Hong Kong’s credit card business and generation of sustainable return by capitalizing the emerging opportunities in asset-backed credit cards markets.

For the redevelopment of our land parcels and properties located at Yuen Long, we have made relevant applications to the Hong Kong Government for approval. During the Reporting Period, the relevant government authority has conditionally approved our plan over four parcels of those lands by constructing single block residential building on each parcel of land under certain prerequisites. We are in process of communicating with the relevant government authority for the details of the construction plan in order to fulfill the environmental or other statutory requirements. To the best knowledge, information and belief of the Directors, there is no legal impediment in obtaining the relevant approval from the Hong Kong Government for the redevelopment of remaining parcels of lands.

To create values for the Shareholders, the Group will evaluate the performance of its current businesses on an ongoing basis and will explore growing the segment with promise. Diversification into new businesses will also be considered if favorable opportunities arise. The Company shall make a formal announcement and comply with the reporting obligation pursuant to the Listing Rules as and when appropriate.