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6-K

Magic Empire Global Ltd (MEGL)

6-K 2023-09-08 For: 2023-09-08
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Added on April 07, 2026

UNITEDSTATES

SECURITIESAND EXCHANGE COMMISSION

Washington,D.C. 20549

FORM6-K

REPORTOF FOREIGN PRIVATE ISSUER

PURSUANTTO RULE 13a-16 OR 15d-16

UNDERTHE SECURITIES EXCHANGE ACT OF 1934


Forthe month of September 2023

CommissionFile Number: 001-41467

MagicEmpire Global Limited

3/F,8 Wyndham Street

Central,Hong Kong

(Addressof Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐


FinancialStatements and Exhibits.


The following exhibits are being filed herewith:

Exhibit No. Description
99.1 Magic Empire Global Limited Announces First Half 2023 Unaudited Financial Results
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SIGNATURES

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Magic Empire Global Limited
Date: September 8, 2023 By: /s/ Sze Hon, Johnson Chen
Sze Hon, Johnson Chen
Chief Executive Officer
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Exhibit99.1

MagicEmpire Global Limited Announces First Half 2023 Unaudited Financial Results

HONGKONG, September 8, 2023 — Magic Empire Global Limited (“MEGL” or the “Company”) (NASDAQ: MEGL), a financialservices provider in Hong Kong which principally engages in the provision of corporate finance advisory services, today announced itsunaudited financial results for the six months ended June 30, 2023.

Overview:

Revenue was approximately<br> HK$6.1 million (US$0.8 million) for the six months ended June 30, 2023, representing a decrease of approximately 22.5% from the same<br> period in 2022.
Net income was approximately<br> HK$0.7 million (US$0.1 million) for the six months ended June 30, 2023 (2022: approximately HK$1.5 million).

SixMonth Financial Results Ended June 30, 2023

**Revenue.**Revenue decreased by approximately 22.5% from approximately HK$7.8 million for the six months ended June 30, 2022 to approximately HK$6.1 million (US$0.8 million) for the six months ended June 30, 2023. During the six months ended June 30, 2023, we completed one IPO sponsorship project and recognized relevant income. The increase in revenue from IPO sponsorship services was offset by a decrease in revenue from financial advisory and independent financial advisory services due to delay in several financial advisory projects for clients pursuing a listing in Nasdaq. Revenue from compliance advisory services decreased due to completion of several of our compliance advisory projects during the six months ended June 30, 2023.

Selling,general and administrative expenses. Selling, general and administrative expenses increased by approximately 15.6% from approximately HK$6.3 million for the six months ended June 30, 2022 to approximately HK$7.2 million (US$0.9 million) for the six months ended June 30, 2023, which was mainly due to (i) increase in staff costs from increase in payroll to our staff and fees to our independent directors; (ii) increase in travelling, accommodation and entertainment expenses due to increase in travelling for business development following the removal of travel restriction measures; (iii) increase in legal fee and other listing-related expenses.

Otherincome, net. Other net income increased by approximately HK$1.9 million from approximately HK$16,800 for the six months ended June 30, 2022 to approximately HK$1.9 million (US$0.2 million) for the six months ended June 30, 2023, which was mainly due to the increase in interest income resulting from the increase in bank interest rates and average cash balance.

Incometax expense. Income tax expense decreased to nil for the for the six months ended June 30, 2023 (six months ended June 30, 2022: approximately HK$133,000) as we have available tax losses brought forward.

Netincome. Net income decreased by approximately HK$0.7 million to approximately HK$0.7 million (US$0.1 million), which was mainly due to the decrease in revenue.

Basicand diluted EPS. Basic and diluted EPS were approximately HK$0.04 (US$0.005) per ordinary share for the six months ended June 30, 2023, as compared to HK$0.1 (US$0.01) per ordinary share for the six months ended June 30, 2022, respectively.



AboutMagic Empire Global Limited


Magic Empire Global Limited is a financial services provider in Hong Kong which principally engage in the provision of corporate finance advisory services and underwriting services. Its service offerings mainly comprise (i) IPO sponsorship services; (ii) financial advisory and independent financial advisory services; (iii) compliance advisory services; and (iv) underwriting services. For more information, visit the Company’s website at http://www.meglmagic.com.

ExchangeRate Information

This announcement contains translations of certain HK$ amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from HK$ to US$ were made at the rate of HK$7.8363 to US$1.00, the exchange rate on June 30, 2023 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the HK$ or US$ amounts referred could be converted into US$ or HK$, as the case may be, at any particular rate or at all.

SafeHarbor Statement


Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC, which are available for review at www.sec.gov.

HongKong:

Magic Empire Global Limited

Ms. Vivien Tai

Tel: +852 3577 8770

E-mail: [email protected]



MAGICEMPIRE GLOBAL LIMITED


UNAUDITEDCONDENSED CONSOLIDATED BALANCE SHEETS

June 30, 2023 June 30, 2023
HK US
ASSETS
Current assets:
Cash
Accounts receivable
Interest receivables
Deposits and prepayments
Other receivables – related parties
Tax recoverable
Total current assets
Non-current assets:
Property and equipment, net
Right-of-use assets
Long-term investment
Total non-current assets
Total assets
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accruals and other payables
Contract liabilities
Operating lease liabilities
Total current liabilities
Non-current liabilities:
Operating lease liabilities
Total non-current liabilities
Total liabilities
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY
Ordinary shares, US0.0001 par value, 300,000,000 shares authorized, and 20,256,099 shares outstanding as of December 31, 2022 and June 30, 2023 respectively
Additional paid-in capital
Accumulated deficits ) ) )
Total shareholders’ equity
Total liabilities and shareholders’ equity

All values are in US Dollars.


MAGICEMPIRE GLOBAL LIMITED

UNAUDITEDCONDENSED CONSOLIDATED STATEMENTS OF INCOME

For the six months ended
June 30, 2022 June 30, 2023 June 30, 2023
HK HK US
REVENUE
OPERATING EXPENSES:
Selling, general and administrative expenses ) ) )
Total operating expenses ) ) )
INCOME FROM OPERATIONS ) )
OTHER INCOME (EXPENSE)
Interest income
Other income
Other expenses ) ) )
Total other income, net
INCOME BEFORE INCOME TAXES
INCOME TAX EXPENSES )
NET INCOME
WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES
Basic and diluted
EARNINGS PER SHARE
Basic and diluted

All values are in US Dollars.