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MASTERBEEF GROUP

CIK:0002027265|SEC Filings

Consolidated Statements of Profit or Loss	12 Months Ended
Consolidated Statements of Profit or Loss	Dec. 31, 2025 USD ($) $ / shares	Dec. 31, 2025 HKD ($) $ / shares	Dec. 31, 2024 HKD ($) $ / shares	Dec. 31, 2023 HKD ($) $ / shares
Profit or loss [abstract]
Revenue	$ 58,985,525	$ 459,102,040	$ 503,975,453	$ 532,286,102
Other income and gains	403,158	3,137,903	2,575,532	1,191,524
Raw materials and consumables used	(21,413,932)	(166,671,052)	(162,919,358)	(173,923,946)
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)
Staff costs	(19,299,674)	(150,215,156)	(169,577,298)	(177,874,361)
Utilities expenses	(2,331,496)	(18,146,730)	(19,133,238)	(19,896,742)
Impairment loss in respect of assets held for sale				(23,545,499)
Impairment of property, plant and equipment	(241,205)	(1,877,371)	(4,549,381)
Impairment of right-of-use asset	(527,031)	(4,102,040)	(5,013,080)
Gain on disposal of subsidiaries			58,678,325
Other expenses	(11,624,683)	(90,478,393)	(79,631,075)	(72,312,851)
Finance costs	(1,246,913)	(9,705,101)	(10,190,795)	(11,449,103)
(Loss)/profit before tax	(5,852,409)	(45,551,045)	35,614,151	(29,788,123)
Income tax expense	(896,366)	(6,976,688)	(2,713,707)	(7,657,988)
(Loss)/profit for the year	$ (6,748,775)	$ (52,527,733)	$ 32,900,444	$ (37,446,111)
(Loss)/earnings per share
Basic \| (per share)	$ (0.41)	$ (3.17)	$ 2.56	$ (3,745.00)
Diluted \| (per share)	$ (0.41)	$ (3.17)	$ 2.56	$ (3,745.00)

Consolidated Statements of Cash Flows	12 Months Ended
Consolidated Statements of Cash Flows	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

Consolidated Statements of Financial Position	Dec. 31, 2025 USD ($)	Dec. 31, 2025 HKD ($)	Dec. 31, 2024 HKD ($)
Non-current assets
Property, plant and equipment	$ 3,395,107	$ 26,425,135	$ 50,506,934
Right-of-use assets	6,044,280	47,044,447	61,554,718
Deferred tax assets	983,727	7,656,645	8,968,929
Deposits	1,617,174	12,586,949	10,898,645
Total non-current assets	12,040,288	93,713,176	131,929,226
Current assets
Amounts due from related companies	2,053,584	15,983,658	17,304,600
Amounts due from shareholders			74,100
Inventories	3,013,723	23,456,709	20,351,116
Trade receivables	437,456	3,404,848	3,319,847
Deposits, prepayments and other receivables	2,295,906	17,869,726	18,000,107
Tax recoverable	242,303	1,885,920
Cash and bank balances	18,978,470	147,715,125	117,336,010
Total current assets	27,021,442	210,315,986	176,385,780
Total assets	39,061,730	304,029,162	308,315,006
Capital and reserves
Share capital	8,597	66,916	58,500
(Accumulated losses)/retained profits	(3,084,835)	(24,010,190)	28,517,543
Other reserves	9,171,241	71,382,519	9,979
Exchange reserve	(2,078)	(16,176)	(42,558)
Total equity	6,092,925	47,423,069	28,543,464
Non-current liabilities
Loans from related companies	5,686,724	44,261,481	28,004,873
Loans from directors	5,741,388	44,686,941
Lease liabilities	3,670,053	28,565,127	36,268,295
Provision for reinstatement costs	466,383	3,630,000	2,780,000
Total non-current liabilities	15,564,548	121,143,549	67,053,168
Current liabilities
Bank loans	7,986,489	62,161,236	70,184,889
Loans from related companies			15,677,958
Amounts due to directors			42,573,611
Amounts due to related companies	51,722	402,561	165,724
Provision for reinstatement costs	214,562	1,670,000	2,520,000
Lease liabilities	4,045,398	31,486,548	38,148,743
Trade payables	1,614,675	12,567,498	16,656,904
Accruals and other payables	3,491,411	27,174,701	25,075,647
Current tax payable			1,714,898
Total current liabilities	17,404,257	135,462,544	212,718,374
Total liabilities	32,968,805	256,606,093	279,771,542
Total equity and liabilities	$ 39,061,730	$ 304,029,162	$ 308,315,006