Segment Information

6 Months Ended

12 Months Ended

Jun. 30, 2025

Dec. 31, 2024

Segment Information [Abstract]

SEGMENT INFORMATION

3. Segment information

Information regarding the Company’s net income and operating income is disclosed in the unaudited interim condensed consolidated statements of income. Segment expenses and other items are reviewed by the CODM on the same basis as presented in the unaudited interim condensed consolidated statements of income.

The Company has one reportable segment: sale of apparel products. Segment was identified based on the Company’s internal reporting and how the chief operating decision maker (“CODM”, the Chief Executive Officer of the Company) assesses the performance of the business. The CODM reviews the results of operations and net income when marking decisions about allocating resources and assessing the performance. The sale of apparel products segment generated revenue by providing one-stop apparel solution service and sales of own-branded apparel products through retail stores. All assets of the Company are located in Hong Kong and the UK and revenues are generated based on the geographical locations.

Key financial performance measures of the segments are as follows:

	For the six months ended June 30,
	2024		2025		2025
	HKD		HKD		US$
REVENUES, NET	79,256,623		60,236,666		7,673,558
COST OF REVENUES
– Related party	(3,504,012	)	(5,385,166	)	(686,017	)
– External	(59,393,295	)	(29,052,173	)	(3,700,961	)
	(62,897,307	)	(34,437,339	)	(4,386,978	)
Gross profit	16,359,316		25,799,327		3,286,580
EXPENSES
Selling and marketing	(2,045,399	)	(3,581,199	)	(456,209	)
General and administrative:
Lease expenses – Related party	(360,000	)	(360,000	)	(45,860	)
Depreciation	(276,041	)	(820,441	)	(104,516	)
Amortization	—		(1,241,642	)	(158,173	)
Staff cost	(7,743,398	)	(10,644,573	)	(1,356,014	)
Leases expenses	(2,110,406	)	(3,070,526	)	(391,155	)
Professional fee	(479,456	)	(2,937,417	)	(374,198	)
Reversal of expected credit losses	(267,373	)	2,291,797		291,952
Others	(2,590,533	)	(3,175,760	)	(404,560	)
Total expenses	(15,872,606	)	(23,539,761	)	(2,998,733	)
INCOME FROM OPERATION	486,710		2,259,566		287,847
OTHER INCOME (EXPENSES)
Interest income	49,895		—		—
Interest expense	(1,460,788	)	(622,140	)	(79,255	)
Change in a fair value of investment of a joint venture	—		33,934		4,323
Agency income – related party	2,361,596		1,248,117		158,998
Other income	—		18,264		2,327
Other expense	(24,805	)	(15,885	)	(2,024	)
Total other income, net	925,898		662,290		84,369
INCOME BEFORE TAX EXPENSES	1,412,608		2,921,856		372,216
INCOME TAX EXPENSES	—		(885,588	)	(112,815	)
NET INCOME	1,412,608		2,036,268		259,401

	As of December 31, 2024		As of June 30, 2025
	HKD		HKD		US$
Total assets	135,647,692		137,766,523		17,550,100
Total liabilities	(78,821,221	)	(79,582,661	)	(10,138,048	)
Net assets	56,826,471		58,183,862		7,412,052

3. Segment information

Information regarding the Company’s net income and operating income is disclosed in the consolidated statements of income. Segment expenses and other items are reviewed by the CODM on the same basis as presented in the consolidated statements of income.

The Company has one reportable segment: sale of apparel products. Segment was identified based on the Company’s internal reporting and how the chief operating decision maker (“CODM”, the Chief Executive Officer of the Company) assesses the performance of the business. The sale of apparel products segment generated revenue by providing one-stop apparel solution service and sales of own-branded apparel products through retail stores. All assets of the Company are located in Hong Kong and the UK and revenues are generated based on the geographical locations.

Key financial performance measures of the segments are as follows:

	For the years ended December 31,
	2023		2024		2024
	HKD		HKD		US$
Revenues, net	174,202,627		235,667,734		30,339,448
Cost of revenues
– Related parties	(34,213,521	)	(7,915,189	)	(1,018,987	)
– External	(104,940,795	)	(178,307,992	)	(22,955,056	)
	(139,154,316	)	(186,223,181	)	(23,974,043	)
Gross profit	35,048,311		49,444,553		6,365,405
Expenses
Selling and marketing	(3,132,277	)	(4,392,521	)	(565,486	)
General and administrative:
Depreciation – related party	(720,000	)	(720,000	)	(92,692	)
Depreciation	(2,540,273	)	(3,831,567	)	(493,269	)
Amortization	(112,049	)	(1,481,738	)	(190,756	)
Staff cost	(13,260,898	)	(18,486,483	)	(2,379,917	)
Professional fee	(2,204,622	)	(2,840,139	)	(365,634	)
Provision for expected credit losses	(1,383,316	)	(1,253,368	)	(161,356	)
Others	(2,648,351	)	(4,867,313	)	(626,610	)
Total expenses	(26,001,786	)	(37,873,129	)	(4,875,720	)
Income from operation	9,046,525		11,571,424		1,489,685
Other income (expenses)
Interest income	92,951		31,954		4,114
Interest expense	(5,759,182	)	(3,759,032	)	(483,931	)
Agency income – related party	2,662,034		1,170,664		150,709
Other income	326		134,230		17,280
Other expense	(302,784	)	—		—
Total other expenses, net	(3,306,655	)	(2,422,184	)	(311,828	)
Income before tax expenses	5,739,870		9,149,240		1,177,857

	As of December 31,
	2023		2024		2024
	HKD		HKD		US$
Total assets	90,616,829		135,647,692		17,463,045
Total liabilities	(93,003,639	)	(78,821,221	)	(10,147,305	)
Net (liabilities) assets	(2,386,810	)	56,826,471		7,315,740