Related Party Balances and Transactions

12 Months Ended

Dec. 31, 2024

Related Party Balances and Transactions [Abstract]

RELATED PARTY BALANCES AND TRANSACTIONS

12. Related party balances and transactions

Due to related parties consist of the following:

		As of December 31,
	Relationship	2023			2024			2024
		HKD			HKD			US$
Due to Ms. Siu	Controlling Shareholder		(59,106	)		—			—
Due to NCH	Common controlled by Ms. Siu		(34,184,138	)		(638,243	)		(82,167	)

The amounts due from (to) the related parties are unsecured, interest free with no specific repayment terms. The amounts due from (to) NCH were non-trade nature, representing fund advances to NCH for its operation.

In addition to the transactions and balances detailed elsewhere in these consolidated financial statements, we also had the following transactions with related parties:

	For the years ended December 31,
	2022		2023		2024		2024
	HKD		HKD		HKD		US$
Agency income received by Neo-Concept UK from NCH		2,586,019		2,662,034		1,170,664		150,709
Purchase of apparel products from NCH		103,159,420		34,213,521		7,915,189		1,018,987
Purchase of intangible assets from NCH		—		—		15,023,180		1,934,057
Rental expense paid to NCH		720,000		720,000		720,000		92,692