Masterbeef swings to FY25 net loss of HK$52.5 million; revenue falls 8.9% to HK$459.1 million

• Masterbeef Group posted a net loss of HK$52.53 million for fiscal 2025, swinging from a net profit of HK$32.9 million a year earlier.
• Revenue fell 8.9% to HK$459.1 million, on a HK$44.9 million decline tied to lower customer visits at Master Beef and Anping Grill outlets amid a slow Hong Kong recovery, rising northbound spending, shifting local consumption habits, and tougher hotpot competition.
• Raw materials and consumables used rose 2.3% to HK$166.67 million, with cost as a share of revenue increasing to 36.3% from 32.3%.
• Other expenses climbed 13.6% to HK$90.48 million, driven by share-based payment expense to an advisor tied to the Nasdaq listing, higher post-listing compliance and investor relations costs, and expenses for a Frankfurt Stock Exchange quotation-board listing.
• Customer visits dropped to 1,432,000 from 1,773,000, while average spending per customer increased to HK$299.7 from HK$265.1.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Masterbeef Group published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001493152-26-023479), on May 15, 2026, and is solely responsible for the information contained therein.