Summary by Futu AI
Top Standard Corporation ('the Company') announces the unaudited interim results for the six months ended 30 June 2024. During the period, the Company and its subsidiaries recorded a revenue of approximately HK$50 million, a decrease of approximately 16.67% compared to the same period last year. The Company's attributable loss was approximately HK$31 million, while a profit of approximately HK$105 million was recorded in the same period last year. The Company's main income comes from its restaurants and bars business in Malaysia and Hong Kong. However, due to the impact of the COVID-19 pandemic, the performance of the Hong Kong business has been lower than expected, and all Hong Kong restaurants have temporarily suspended operations. On 19 December 2023, the Company completed its second placement, successfully placing 276,480,000 shares and raising approximately HK$3.5 million for general operational capital. The board of directors remains optimistic about the recovery of the dining business and will continue to control costs and explore new business opportunities.
