MASTERBEEF GROUP

Listed Company

MBCIK 0002027265NasdaqNon-AcceleratedEmerging GrowthRetail-Eating PlacesK3ITFY ends Dec 31

Period

FY 2024

Revenue

—

Net Income

$4.24M

Total Assets

$39.69M

Equity

—

Shares Out

15.00M

Op. Cash Flow

—

Business

MASTERBEEF GROUP is a holding company that operates a full-service restaurant group specializing in Taiwanese hotpot and Taiwanese barbecue. It offers all-you-can-eat hotpot, Taiwanese barbecue buffet menus, seasonal and retail packaged food products (including packaged hotpot soup base), and related services such as centralized food production and human resource management for related parties. Its business is organized around home-grown restaurant brands, primarily Master Beef and Anping Grill, supported by a central kitchen and logistics operations. The Group conducts all restaurant operations and distribution in Hong Kong through its Hong Kong operating subsidiaries and retail outlets.

Summary from filing dated 2025-05-15

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	Dec 31, 2025 2025-12-31	Dec 31, 2024 2024-12-31	Dec 31, 2023 2023-12-31
Profit or loss [abstract]	—	—	—
Revenue	59	504	532
Non-Operating Income (Expense)	403,158	3	1
Raw materials and consumables used	21	163	174
Depreciation of property, plant and equipment	4	34	36
Amortisation of right-of-use assets	5	45	48
Staff costs	19	170	178
Utilities expenses	2	19	20
Impairment loss in respect of assets held for sale	—	—	24
Impairment of property, plant and equipment	241,205	5	—
Impairment of right-of-use asset	527,031	5	—
Gain on disposal of subsidiaries	—	59	—
Other expenses	12	80	72
Finance costs	1	10	11
(Loss)/profit before tax	−6	36	−30
Income tax expense	896,366	3	8
(Loss)/profit for the year	−7	33	−37
(Loss)/earnings per share	—	—	—
Earnings Per Share (Basic)	−0.41	2.56	−3,745
Earnings Per Share (Diluted)	−0.41	2.56	−3,745

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	Dec 31, 2025 2025-12-31	Dec 31, 2024 2024-12-31
Statement of financial position [abstract]	—	—
Assets	—	—
Non-current assets	—	—
Net carrying amount	3	51
Net carrying amount	6	62
Deferred Tax Assets, Non-Current	983,727	9
Deposits	2	11
Total non-current assets	12	132
Current assets	—	—
Amounts due from related companies	2	17
Amounts due from shareholders	—	74,100
Inventory	3	20
Accounts Receivable	437,456	3
Total Current Assets	2	18
Tax recoverable	242,303	—
Cash and Cash Equivalents	19	117
Total current assets	27	176
Total assets	39	308
Capital and reserves	—	—
Total Stockholders' Equity	8,597	58,500
Retained Earnings	−3	29
Accumulated Other Comprehensive Income	9	9,979
Accumulated Other Comprehensive Income	−2,078	−42,558
Total equity	6	29
Non-current liabilities	—	—
Loans from related companies	6	28
Loans from directors	6	—
Operating Lease Liability, Non-Current	4	36
Provision for reinstatement costs	466,383	3
Total non-current liabilities	16	67
Current liabilities	—	—
Bank loans	8	70
Loans from related companies	—	16
Amounts due to directors	—	43
Amounts due to related companies	51,722	165,724
Provision for reinstatement costs	214,562	3
Lease liabilities	4	38
Accounts Payable	2	17
Accruals and other payables	3	25
Total Current Liabilities	—	2
Total current liabilities	17	213
Total liabilities	33	280
Total equity and liabilities	39	308

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	Dec 31, 2025 2025-12-31	Dec 31, 2024 2024-12-31	Dec 31, 2023 2023-12-31
Statement of cash flows [abstract]	—	—	—
Cash flows from operating activities	—	—	—
Income Before Tax	−6	36	−30
Adjustments for:	—	—	—
Interest income	62,215	682,409	515,980
Net Cash from Operating Activities	741,752	5	5
Depreciation & Amortization (CF)	4	34	36
Amortisation of right-of-use assets	5	45	48
Impairment loss on disposal group classified as held for sale	—	—	24
Interest on lease liabilities	505,161	6	6
Written-off of property, plant and equipment	−15,521	−526,279	−7
Impairment of property, plant and equipment	241,205	5	—
Impairment of right-of-use assets	527,031	5	—
Share-based payment	2	—	—
Gain on disposal of subsidiaries	—	59	—
Operating cash flows before movements in working capital	6	75	96
Decrease/(increase) in amounts due from related companies	169,715	45	−78,147
Decrease in amounts due from shareholders	9,521	—	—
Change in Inventory	−399,007	5	5
Change in Accounts Receivable	−10,921	6	−5
Increase in deposits, prepayments and other receivables	−200,162	−3	−6
Decrease in amounts due to directors	−5	−67	−224,388
Increase in amounts due to related companies	30,429	18,963	35,894
Change in Accounts Payable	−525,408	972,847	−2
(Decrease)/increase in accruals and other payables	−273,784	9	3
Cash (used in)/generated from operations	−494,061	70	91
Net Cash from Operating Activities	62,215	682,409	515,980
Income tax paid	1	10	8
Net cash (used in)/generated from operating activities	−2	60	84
Cash flows from investing activities	—	—	—
Purchase of property, plant and equipment	176,746	12	45
Net cash outflow from deconsolidation of subsidiaries	—	189,912	—
Proceeds from Sale of PP&E	8,086	—	61,239
Net cash used in investing activities	−168,660	−12	−44
Cash flows from financing activities	—	—	—
Interest paid for bank loans	253,431	3	3
Proceed from loans from directors	5	—	—
Proceeds from Stock Issuance	9	—	—
Listing expense paid in relation to issuance of new ordinary shares	978,547	—	—
Interest paid for loans from related companies	13,888	2	2
Repayment of principal portion of bank loan	1	8	8
Repayment of principal portion of loans from related companies	115,719	10	14
Interest elements of lease rentals paid	505,161	6	6
Repayment of principal portion of lease liabilities	6	49	48
Net cash generated from/(used in) financing activities	6	−77	−82
Net increase/(decrease) in cash and cash equivalents	4	−29	−42
Cash and cash equivalents at end of the year	—	—	—
Bank balances and cash transfer to assets classified as held for sale	—	—	−8
Net Change in Cash	−808	−28,025	−3,475
Cash and cash equivalents at end of the year	—	—	—

Filings

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