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瀛海集团(08668) - 2024 - 年度业绩
2025-03-26 14:39
Financial Performance - Revenue increased from approximately HKD 94.7 million for the year ended December 31, 2023, to approximately HKD 105.0 million for the year ended December 31, 2024, representing an increase of about 10.3 million HKD[4]. - Gross profit for the year ended December 31, 2024, was approximately HKD 13.1 million, compared to approximately HKD 13.3 million for the year ended December 31, 2023[4]. - Loss for the year increased significantly from approximately HKD 2.5 million for the year ended December 31, 2023, to approximately HKD 9.5 million for the year ended December 31, 2024[4]. - Basic loss per share attributable to owners of the company was approximately HKD 0.79 cents for the year ended December 31, 2024, compared to HKD 0.21 cents for the year ended December 31, 2023[4]. - The group reported a pre-tax loss of HKD 9,514,000 for the year, compared to a pre-tax loss of HKD 2,546,000 in the previous year, reflecting a significant increase in losses[25][26]. - The company’s annual loss increased significantly from approximately HKD 2.5 million for the year ended December 31, 2023, to approximately HKD 9.5 million for the year ended December 31, 2024, attributed to increased salary expenses and impairment losses[67]. Revenue Sources - The company primarily engages in the sale and distribution of tickets and hotel rooms, travel-related products and services, and vehicle rental services in Macau[8]. - Revenue from hotel room sales and distribution amounted to HKD 79,078,000 in 2024, up from HKD 69,714,000 in 2023, indicating a growth of about 13.5%[19]. - The travel business segment generated revenue of HKD 79,581,000, while the automotive business and event business contributed HKD 19,474,000 and HKD 5,936,000 respectively, totaling HKD 104,991,000 for the group[25]. - The group’s total income from customer contracts was HKD 102,622,000, an increase from HKD 92,689,000 in the previous year, marking a growth of about 10.1%[19]. - Revenue from external customers in Macau increased to HKD 103,790,000 in 2024, up from HKD 93,571,000 in 2023, representing an increase of approximately 10.3%[33]. Assets and Liabilities - Total assets less current liabilities decreased from HKD 35.9 million as of December 31, 2023, to HKD 25.5 million as of December 31, 2024[7]. - Current assets decreased from HKD 47.1 million as of December 31, 2023, to HKD 32.9 million as of December 31, 2024[7]. - Current liabilities decreased from HKD 22.8 million as of December 31, 2023, to HKD 19.4 million as of December 31, 2024[7]. - Net assets attributable to owners of the company decreased from HKD 33.7 million as of December 31, 2023, to HKD 24.0 million as of December 31, 2024[7]. - Trade receivables totaled HKD 19,566,000 in 2024, down from HKD 25,911,000 in 2023, reflecting a decrease of approximately 24.6%[44]. - Trade payables decreased from HKD 15.9 million in 2023 to HKD 8.9 million in 2024, with significant reductions in amounts due within 30 days[48]. Expenses - Employee benefits expenses (excluding directors' remuneration) rose to HKD 14,979,000 in 2024 from HKD 10,593,000 in 2023, an increase of about 41.5%[37]. - Administrative expenses increased from approximately HKD 14.5 million in 2023 to approximately HKD 18.9 million in 2024, mainly due to higher salary expenses[60]. - The employee cost for the year ended December 31, 2024, was approximately HKD 19.5 million, an increase from HKD 12.8 million in 2023[103]. Strategic Initiatives - The company plans to strategically seek partnerships with more hotel operators and travel agencies in Macau to enhance its market position and drive sustainable growth[53]. - The company is considering expanding its travel business into mainland China and diversifying its revenue sources through ticket sales and event organization[54]. - The company has purchased 19 new vehicles for point-to-point cross-border transport services and car rental services in Macau[71]. - The company aims to collaborate with more hotel operators, but has faced challenges in identifying suitable partners[69]. - The company plans to expand its tourism business into China, with ongoing efforts to identify opportunities in the mainland and Hong Kong[72]. Financial Position - As of December 31, 2024, the total cash and cash equivalents amounted to approximately HKD 5.9 million, a decrease from HKD 9.3 million as of December 31, 2023, primarily due to increased working capital needs for business expansion and net cash used for repaying bank borrowings[80]. - The total borrowings and lease liabilities as of December 31, 2024, were approximately HKD 2.3 million, down from HKD 3.4 million as of December 31, 2023, with outstanding bank financing commitments of approximately HKD 1.6 million[80]. - The debt-to-equity ratio as of December 31, 2024, was approximately 9.4%, compared to 10.0% as of December 31, 2023, calculated based on bank borrowings and lease liabilities divided by total equity attributable to the owners of the company[84]. - The company reported a capital commitment of approximately HKD 4.2 million as of December 31, 2024, significantly up from HKD 0.8 million as of December 31, 2023[86]. Governance and Compliance - The company has adopted the corporate governance code as per GEM listing rules, ensuring high levels of transparency and accountability to protect shareholder interests[109]. - The company confirms compliance with the minimum public float requirement of at least 25% as per GEM listing rules[113]. - The board believes that the dual role of the chairman and CEO held by Mr. Cai is in the best interest of the company, despite a deviation from the corporate governance code[110]. - The company has confirmed that all directors have adhered to the required standards of conduct regarding securities trading for the fiscal year ending December 31, 2024[111]. Market Risks - The financial performance has been adversely affected by the COVID-19 pandemic, prompting a strategic adjustment to mitigate operational risks[69]. - The company’s revenue is primarily derived from Macau, making it sensitive to changes in policies and economic conditions in Macau and China[76]. - The company faces risks related to potential travel restrictions and the ability to secure favorable terms with hotel operators, which could impact business performance[75]. Other Information - The annual general meeting for 2024 is scheduled for May 10, 2024, with further announcements to be made in accordance with GEM listing rules[116]. - The auditor has confirmed that the financial statements for the year ending December 31, 2024, are consistent with the group's consolidated financial statements[114]. - There are no significant events that require disclosure after December 31, 2024, up to the date of this announcement[115].
瀛海集团(08668) - 2024 - 中期财报
2024-08-26 14:17
Financial Performance - For the six months ended June 30, 2024, the group recorded unaudited revenue of approximately HKD 48.3 million, a significant increase of HKD 12.1 million or 33.4% compared to HKD 36.2 million for the same period in 2023[5]. - The group reported an unaudited loss attributable to owners of the company of approximately HKD 5.9 million for the six months ended June 30, 2024, compared to an unaudited profit of HKD 3.0 million for the same period in 2023[5]. - Basic and diluted loss per share for the six months ended June 30, 2024, was HKD 0.49, compared to a profit of HKD 0.25 per share for the same period in 2023[5]. - For the six months ended June 30, 2024, the company reported a total comprehensive loss of HKD 6,013,000, compared to a total comprehensive income of HKD 3,056,000 for the same period in 2023[9]. - The company incurred a loss of HKD 5,921,000 during the six months ended June 30, 2024, compared to a profit of HKD 2,970,000 for the same period in 2023[9]. - The group recorded a pre-tax loss of HKD 5,921,000 for the six months ended June 30, 2024, compared to a profit of HKD 2,970,000 for the same period in 2023[31][33]. Assets and Liabilities - Non-current assets as of June 30, 2024, amounted to HKD 11.9 million, compared to HKD 11.6 million as of December 31, 2023[8]. - Current assets decreased to HKD 41.0 million as of June 30, 2024, from HKD 47.1 million as of December 31, 2023[8]. - The net current asset value was HKD 17.5 million as of June 30, 2024, down from HKD 24.3 million as of December 31, 2023[8]. - Total assets less current liabilities were HKD 29.4 million as of June 30, 2024, compared to HKD 35.9 million as of December 31, 2023[8]. - The group's total equity attributable to owners decreased to HKD 27.7 million as of June 30, 2024, from HKD 33.7 million as of December 31, 2023[8]. - Total borrowings and lease liabilities amounted to approximately HKD 2.8 million as of June 30, 2024, down from HKD 3.4 million as of December 31, 2023[116]. - As of June 30, 2024, the group's asset-liability ratio was approximately 37.3%, a significant increase from about 10.0% as of December 31, 2023[121]. Cash Flow - Cash and cash equivalents decreased by HKD 1,308,000 during the six months ended June 30, 2024, resulting in a closing balance of HKD 5,182,000[14]. - Operating activities generated a net cash outflow of HKD 683,000 for the six months ended June 30, 2024, compared to a net cash inflow of HKD 3,064,000 for the same period in 2023[14]. - The company's cash flow from investing activities resulted in a net cash outflow of HKD 10,000 for the six months ended June 30, 2024, compared to a net inflow of HKD 470,000 in the same period of 2023[14]. - The company’s financing activities resulted in a net cash outflow of HKD 615,000 for the six months ended June 30, 2024, compared to HKD 1,987,000 in the same period of 2023[14]. - The group's cash and cash equivalents decreased from approximately HKD 9.3 million as of December 31, 2023, to approximately HKD 7.9 million as of June 30, 2024, primarily due to net cash outflows from operating and financing activities[115]. Revenue Segments - Revenue from customer contracts amounted to HKD 46,245,000, up 33.4% from HKD 34,699,000 year-on-year[26]. - The travel business segment generated revenue of HKD 34,302,000, representing a 15.5% increase from HKD 29,825,000 in the previous year[31]. - The automotive business segment reported revenue of HKD 8,792,000, a 67.5% increase from HKD 5,260,000 in the same period last year[31]. - The performance of the event business segment showed a revenue of HKD 5,208,000, compared to HKD 1,114,000 in the previous year[31]. - The group has three reportable segments: travel, automotive, and events, with each segment's performance being evaluated for resource allocation[28][29][30]. Expenses and Losses - The cost of sales rose sharply by approximately 62.3%, from about HKD 26.8 million to about HKD 43.5 million during the same periods, driven by increased sales of hotel rooms, event tickets, and car rental services[64]. - Gross profit decreased by approximately 48.9%, from about HKD 9.4 million to about HKD 4.8 million, primarily due to reduced margins from hotel room sales amid intense competition in the industry[64]. - Administrative expenses increased from approximately HKD 6.6 million to about HKD 12.0 million, representing an increase of approximately 81.8% due to higher employee benefits and sponsorship expenses[66]. - Employee benefits expenses surged to HKD 10,093,000 from HKD 4,940,000, an increase of 104.6%[37]. Dividends and Equity - The board of directors decided not to recommend the payment of an interim dividend for the six months ended June 30, 2024, consistent with the previous year[5]. - No interim dividend was recommended for the six months ended June 30, 2024, remaining at zero, similar to the previous period[122]. - The company’s total equity increased to HKD 27,659,000 as of June 30, 2024, from HKD 39,177,000 at the end of the previous reporting period[9]. Strategic Initiatives - The company has expanded its business into Hong Kong, obtaining a travel agency license on March 22, 2023[59]. - The strategic goal is to consolidate its market position in the Macau tourism industry and seek partnerships with more hotel operators and travel agencies[59]. - The company plans to expand its tourism business into China, aiming to increase revenue sources related to the Macau tourism industry[59]. - The group aims to collaborate with more hotel operators and is actively seeking partnerships with popular and quality hotels[103]. - The group has allocated approximately HKD 22.2 million for collaboration with event organizers, sponsoring well-known stars and artists for performances and events in China, Macau, and Asia[101]. Risks and Challenges - The group faces risks related to potential travel restrictions and consumer sentiment due to the pandemic, which may impact the tourism industry in Macau and China[104]. - The group will ensure its business plans are flexible to respond to market conditions and will closely monitor business trends to identify favorable entrepreneurial environments[104]. - The group faced significant adverse impacts on its business and operations due to pandemic-related lockdowns and travel restrictions in Macau, China, and Hong Kong, leading to a substantial decrease in visitor numbers[107]. - The group's ability to generate revenue is heavily reliant on the performance of hotel operators in Macau, which may be adversely affected by changes in policies and economic conditions in the region[107]. Governance and Management - The chairman and CEO roles are held by the same individual, which the board believes is in the best interest of the group[129]. - As of June 30, 2024, the chairman held 900 million shares, representing 75.0% of the company's equity[134]. - As of June 30, 2024, Silver Esteem Limited and Ms. Wang Peiqiong each hold 900,000,000 shares, representing 75.0% ownership in the company[137]. - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2024, and found them to be prepared in accordance with applicable accounting standards[142].
瀛海集团(08668) - 2024 - 中期业绩
2024-08-26 14:15
Financial Performance - For the six months ended June 30, 2024, the company recorded unaudited revenue of approximately HKD 48.3 million, a significant increase of HKD 12.1 million or 33.4% compared to HKD 36.2 million for the same period in 2023[7] - The company reported an unaudited loss attributable to owners of approximately HKD 5.9 million for the six months ended June 30, 2024, compared to an unaudited profit of HKD 3.0 million for the same period in 2023[7] - Basic and diluted loss per share for the six months ended June 30, 2024, was HKD 0.49, compared to earnings of HKD 0.25 per share for the same period in 2023[7] - The company reported a total comprehensive loss attributable to owners of approximately HKD 6.0 million for the six months ended June 30, 2024, compared to a total comprehensive income of HKD 3.1 million for the same period in 2023[9] - The company reported a net loss of HKD 5,921,000 for the six months ended June 30, 2024, compared to a profit of HKD 2,970,000 in the same period of 2023[11] - The group reported a pre-tax loss of HKD 5,921,000 for the six months ended June 30, 2024, compared to a profit of HKD 2,970,000 for the same period in 2023[39][42] Revenue Breakdown - Revenue from hotel room sales and distribution was HKD 33,444,000, up from HKD 29,126,000, reflecting a growth of 11.9%[28] - The total revenue from customer contracts amounted to HKD 46,245,000, compared to HKD 34,699,000 in the previous year, indicating a significant increase of 33.4%[28] - Car rental service revenue increased to HKD 7,374,000, a 96.5% rise from HKD 3,760,000 in the prior period[28] - The performance of the event and activity segment showed a decline, with a revenue of HKD 5,208,000 for 2024 compared to HKD 1,114,000 in 2023, which is a decrease of about 367.5%[33][35] Expenses and Costs - Gross profit for the six months ended June 30, 2024, was HKD 4.8 million, down from HKD 9.4 million in the same period in 2023[9] - Administrative expenses increased to HKD 12.0 million for the six months ended June 30, 2024, compared to HKD 6.6 million for the same period in 2023[9] - The cost of sales rose sharply by approximately 62.3%, from about HKD 26.8 million to about HKD 43.5 million during the same periods, driven by increased sales and distribution of hotel rooms and event ticket sales[66] - Gross profit decreased by approximately 48.9%, from about HKD 9.4 million to about HKD 4.8 million, primarily due to reduced margins from hotel room sales amid intense competition in the hotel industry[66] - The group incurred total employee benefits expenses of HKD 10,093,000 for the six months ended June 30, 2024, compared to HKD 4,940,000 in 2023, marking an increase of approximately 104.6%[39] Assets and Liabilities - As of June 30, 2024, the total assets decreased to HKD 29,395,000 from HKD 35,926,000 as of December 31, 2023, representing a decline of approximately 18.1%[10] - The net current assets decreased to HKD 17,526,000 from HKD 24,286,000, indicating a reduction of about 27.8%[10] - The company's total equity decreased to HKD 27,659,000 from HKD 33,672,000, reflecting a decrease of about 17.8%[11] - The company’s total liabilities decreased to HKD 41,012,000 from HKD 47,113,000, a reduction of about 12.9%[10] - The company's asset-liability ratio increased to approximately 37.3% as of June 30, 2024, compared to approximately 10.0% as of December 31, 2023[123] Cash Flow and Liquidity - Cash and cash equivalents decreased to HKD 5,182,000 from HKD 6,582,000, a decline of approximately 21.2%[16] - Operating cash flow for the six months ended June 30, 2024, was a net outflow of HKD 683,000, compared to a net inflow of HKD 3,064,000 in the prior year[16] - The company’s cash flow from operating and financing activities resulted in a net cash outflow for the six months ended June 30, 2024[117] Strategic Plans and Market Position - The company plans to strategically seek partnerships with more hotel operators and travel agencies in Macau to enhance its market position and increase revenue streams[61] - The company aims to diversify its income sources by engaging in ticket sales and organizing events in Asia, which is expected to create synergies with existing tourism services[61] - The company has expanded its operations into Hong Kong, obtaining a travel agency license on March 22, 2023[61] - The company aims to expand its tourism business into China, identifying opportunities in the Chinese and Hong Kong tourism markets[105] Governance and Compliance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix C1 and has complied with it in all significant aspects, except for a deviation regarding the separation of roles of the Chairman and CEO[130] - The Audit Committee was established in accordance with GEM Listing Rules and consists of three independent non-executive directors[144] - The Audit Committee has reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2024, and believes they are prepared in accordance with applicable accounting standards[144] Other Relevant Information - The company has no significant capital commitments as of June 30, 2024, compared to approximately HKD 0.8 million as of December 31, 2023[124] - The company has no significant contingent liabilities as of June 30, 2024, consistent with the previous year[125] - There have been no significant acquisitions or disposals of subsidiaries or joint ventures as of June 30, 2024[112] - No significant events requiring disclosure have occurred after June 30, 2024, up to the date of this report[143]
瀛海集团(08668) - 2023 - 年度财报
2024-04-15 14:43
Financial Performance - The company's revenue for the year ended December 31, 2023, was HKD 94,709,000, a significant increase from HKD 9,253,000 in 2022, representing a growth of approximately 927%[12] - The company reported a pre-tax loss of HKD 2,546,000 for 2023, improved from a loss of HKD 12,080,000 in 2022, indicating a reduction in losses by about 78%[12] - The company's revenue increased significantly from approximately HKD 9.3 million for the year ended December 31, 2022, to approximately HKD 94.7 million for the year ended December 31, 2023, representing a growth of about 918.3%[23] - The annual loss decreased significantly from approximately HKD 12.1 million for the year ended December 31, 2022, to approximately HKD 2.5 million for the year ended December 31, 2023, a reduction of about 79.3%[32] - The cost of sales rose from approximately HKD 10.2 million to approximately HKD 81.4 million, an increase of about 698.0%, primarily due to higher sales of hotel rooms and car rental services[24] - The company recorded a gross profit of approximately HKD 13.3 million for the year ended December 31, 2023, compared to a gross loss of approximately HKD 1.0 million for the previous year, resulting in a gross margin of about 14.0%[25] Assets and Liabilities - Total assets increased to HKD 58,753,000 in 2023 from HKD 49,205,000 in 2022, reflecting a growth of approximately 19%[14] - Current assets rose to HKD 47,113,000 in 2023, up from HKD 39,237,000 in 2022, marking an increase of about 20%[14] - The total equity decreased to HKD 33,672,000 in 2023 from HKD 36,121,000 in 2022, a decline of approximately 7%[14] - As of December 31, 2023, the total cash and cash equivalents amounted to approximately HKD 9.3 million, an increase from HKD 7.9 million as of December 31, 2022, primarily due to increased revenue from hotel room sales and car rental services[46] - The total borrowings and lease liabilities as of December 31, 2023, were approximately HKD 3.4 million, down from HKD 7.1 million as of December 31, 2022[46] - The debt-to-equity ratio as of December 31, 2023, was approximately 10.0%, a decrease from 19.6% as of December 31, 2022[48] Business Strategy and Market Outlook - The company anticipates a gradual recovery in the Macau tourism industry, which is expected to positively impact its business performance[8] - The company is focused on consolidating its existing business and aims to provide stable returns and growth prospects for shareholders[9] - The number of tourists visiting Macau is gradually increasing following the relaxation of travel restrictions, contributing to the recovery of the tourism sector[17] - The company is well-prepared to seize upcoming business opportunities as the tourism industry recovers[8] - The company operates in various segments, including ticket sales for performances and events, which are expected to benefit from the tourism rebound[8] - The company plans to strategically seek partnerships with more hotel operators and travel agencies in Macau to enhance its market position and increase revenue sources[19] - The company aims to expand its tourism business into mainland China to diversify its revenue streams[19] Corporate Governance - The company has adopted the corporate governance code as outlined in the GEM listing rules, ensuring transparency and accountability to protect shareholder interests[89] - The board believes that the dual role of the chairman and CEO held by Mr. Cai is in the best interest of the company, given his extensive experience in the tourism industry[90] - The board consists of two executive directors and three independent non-executive directors, ensuring compliance with GEM listing rules[95] - The board held a total of 7 meetings and the annual general meeting on May 10, 2023, with full attendance from all directors[102] - The company maintains high corporate governance standards, including regular reviews of governance policies and compliance with legal regulations[96] - The audit committee is responsible for overseeing financial reporting and internal controls, composed entirely of independent non-executive directors[105] - The board's remuneration policy aims to provide competitive compensation to attract and retain talent while promoting performance culture[114] Environmental, Social, and Governance (ESG) Initiatives - The group has adopted the Hong Kong Stock Exchange's Environmental, Social and Governance Reporting Guidelines to enhance its sustainability efforts[180] - The group is committed to monitoring environmental, social, and governance matters and has allocated significant resources to ensure compliance with relevant laws and regulations[181] - The group has established annual environmental goals that are regularly reviewed and discussed by the board[180] - The company emphasizes the importance of stakeholder communication and regularly collects feedback to improve operations[184] - The company monitors key performance indicators related to environmental, social, and governance (ESG) strategies and policies[182] - The company aims to reduce energy, water, and other natural resource usage to lower operational costs[193] Employee and Workforce Management - As of December 31, 2023, the group had 88 employees, an increase from 48 employees in 2022, with total employee costs approximately HKD 12.8 million compared to HKD 8.7 million in 2022[66] - The group has maintained good relationships with employees, customers, and suppliers, with no significant disputes reported[69] - The board's compensation scheme is based on individual performance, work experience, and current market salary levels[66] - The company aims to maintain gender diversity in its workforce and has established policies to ensure equal employment opportunities[136] Risk Management - The company acknowledges potential risks including travel restrictions and changes in consumer behavior that may affect its operations[42] - The group has no significant credit concentration risk and will continue to monitor such credit risks[64] - The company has not identified any significant deficiencies in risk management and internal control systems during the review period[150] - The board believes that the group's risk management and internal control systems are sufficient and effective as of December 31, 2023[147]
瀛海集团(08668) - 2023 - 年度业绩
2024-03-26 13:14
Financial Performance - Revenue increased significantly from approximately HKD 9.3 million for the year ended December 31, 2022, to approximately HKD 94.7 million for the year ended December 31, 2023, representing a growth of 918.3%[6] - Gross profit for the year ended December 31, 2023, was approximately HKD 13.3 million, compared to a gross loss of approximately HKD 1.0 million for the year ended December 31, 2022[6] - Loss for the year decreased by 79.3% from approximately HKD 12.1 million for the year ended December 31, 2022, to approximately HKD 2.5 million for the year ended December 31, 2023[6] - Basic loss per share attributable to owners of the company was approximately HKD 0.21 for the year ended December 31, 2023, compared to HKD 1.01 for the year ended December 31, 2022[6] - The company reported a net loss of approximately HKD 2.5 million for the year ended December 31, 2023, compared to a net loss of approximately HKD 12.1 million for the previous year[8] - The total reported segment loss before tax for 2023 was HKD 2,546,000, a significant improvement from a loss of HKD 12,080,000 in 2022[35][36] - The annual loss decreased significantly by 79.3% from approximately HKD 12.1 million for the year ended December 31, 2022, to approximately HKD 2.5 million for the year ended December 31, 2023[79] Revenue Breakdown - Total revenue for the year 2023 reached HKD 94,709,000, a significant increase from HKD 9,253,000 in 2022, representing a growth of approximately 927%[28] - Revenue from hotel room sales and distribution amounted to HKD 69,714,000, compared to HKD 6,612,000 in the previous year, indicating a growth of about 950%[28] - Total revenue from customer contracts was HKD 92,689,000, up from HKD 7,525,000 in 2022, reflecting an increase of approximately 1,233%[28] - The travel segment generated revenue of HKD 71,584,000 in 2023, compared to HKD 7,092,000 in 2022, marking an increase of about 911%[35][36] - The automotive segment reported revenue of HKD 13,304,000 in 2023, up from HKD 3,401,000 in 2022, reflecting a growth of approximately 290%[35][36] - The performance of the events segment showed a revenue of HKD 9,821,000 in 2023, recovering from a loss of HKD 1,240,000 in 2022[35][36] Assets and Liabilities - Total assets less current liabilities amounted to approximately HKD 35.9 million as of December 31, 2023, compared to HKD 39.6 million as of December 31, 2022[9] - Current assets increased to approximately HKD 47.1 million as of December 31, 2023, from HKD 39.2 million as of December 31, 2022[9] - Total assets as of December 31, 2023, amounted to HKD 58,753,000, an increase from HKD 49,205,000 in 2022, indicating a growth of approximately 19%[39][42] - Total liabilities increased to HKD 25,081,000 in 2023 from HKD 13,084,000 in 2022, representing a rise of about 92%[39][42] - The company’s total equity attributable to owners was approximately HKD 33.7 million as of December 31, 2023, down from HKD 36.1 million as of December 31, 2022[9] Cash Flow and Financing - As of December 31, 2023, the total cash and cash equivalents amounted to approximately HKD 9.3 million, an increase from HKD 7.9 million as of December 31, 2022, primarily due to increased revenue from hotel room sales and car rental services[94] - The total borrowings and lease liabilities as of December 31, 2023, were approximately HKD 3.4 million, down from HKD 7.1 million as of December 31, 2022[95] - The debt-to-equity ratio as of December 31, 2023, was approximately 10.0%, a decrease from 19.6% as of December 31, 2022[97] - Interest income for the year ended December 31, 2023, was reported at HKD 37,000, compared to HKD 23,000 in 2022[41][43] Operational Costs - Sales costs rose from approximately HKD 10.2 million to approximately HKD 81.4 million, an increase of 698.0%, primarily due to higher sales and distribution of hotel rooms and car rental services[73] - Employee benefit expenses (excluding directors' remuneration) rose to HKD 10,593,000 in 2023, up from HKD 7,004,000 in 2022, highlighting increased operational costs[58] - Administrative expenses remained relatively stable at approximately HKD 13.9 million and HKD 15.4 million for the years ended December 31, 2022, and 2023, respectively[76] - Financing costs were stable at approximately HKD 353,000 and HKD 240,000 for the years ended December 31, 2022, and 2023[78] Strategic Plans and Market Position - The group plans to strategically seek partnerships with more hotel operators and travel agencies in Macau to enhance market share and revenue streams[69] - The group aims to expand its tourism business into mainland China, diversifying its revenue sources beyond Macau[69] - The group’s strategic goal is to consolidate its market position in the Macau tourism industry and generate returns for shareholders[69] - The company is strategically seeking transactions and other business opportunities to stabilize the impact of the pandemic on its operations[89] Governance and Compliance - The company has adopted the corporate governance code as per GEM listing rules, ensuring transparency and accountability to protect shareholder interests[126] - The company confirms compliance with the minimum public float requirement of at least 25% as per GEM listing rules[131] - The audit committee reviewed the financial statements and confirmed compliance with applicable financial reporting standards and GEM listing rules[123] - The company has complied with all relevant laws and regulations in Macau, mainland China, and Hong Kong as of December 31, 2023[119] Risks and Challenges - The company faces significant risks due to the ongoing impact of the pandemic on tourism in Macau, with visitor numbers remaining uncertain despite policy relaxations[90] - The company’s revenue is heavily reliant on the Macau market, making it vulnerable to changes in local policies and economic conditions[90] Employee Relations - The company employed 88 staff members as of December 31, 2023, with total employee costs amounting to approximately HKD 12.8 million, an increase from HKD 8.7 million in 2022[117] - The company has established good relationships with employees, customers, and suppliers, with no major disputes reported during the fiscal year[121] Events and Future Outlook - The company successfully held eight concerts in China by December 31, 2023, which were initially scheduled for 2021 but postponed due to the pandemic[70] - The company plans to utilize the unspent net proceeds from the listing by December 31, 2024, to address future economic uncertainties[83] - The annual general meeting for 2024 is scheduled for May 10, 2024, with a suspension of share transfer registration from May 7 to May 10, 2024[134][135]
瀛海集团(08668) - 2023 Q3 - 季度财报
2023-11-09 12:39
Financial Performance - The group recorded unaudited revenue of approximately HKD 63.2 million for the nine months ended September 30, 2023, a significant increase of HKD 55.0 million or 670.7% compared to HKD 8.2 million for the same period in 2022[6] - The group reported an unaudited profit attributable to owners of the company of approximately HKD 2.3 million for the nine months ended September 30, 2023, compared to an unaudited loss of HKD 7.8 million for the same period in 2022[6] - Basic and diluted earnings per share for the nine months ended September 30, 2023, were HKD 0.19 cents, compared to a loss of HKD 0.65 cents per share for the same period in 2022[6] - Gross profit for the nine months ended September 30, 2023, was HKD 12.9 million, compared to HKD 0.238 million for the same period in 2022, reflecting a substantial improvement[8] - The total comprehensive income for the nine months ended September 30, 2023, was HKD 2.44 million, compared to a total comprehensive loss of HKD 7.85 million for the same period in 2022[8] - The reported segment performance for the nine months ended September 30, 2023, showed a profit of HKD 4,545,000, compared to a loss of HKD 7,573,000 in the same period of 2022, indicating a turnaround in performance[36] - The company recorded a profit of approximately HKD 2.3 million for the nine months ended September 30, 2023, compared to a loss of approximately HKD 7.8 million for the same period in 2022, marking a turnaround due to the recovery of the Macau tourism industry[62] Revenue Breakdown - For the nine months ended September 30, 2023, total revenue reached HKD 63,198,000, compared to HKD 8,246,000 in the prior year, indicating an increase of about 667%[30] - Revenue from hotel room sales, air tickets, and other travel-related products and services for the nine months was HKD 50,947,000, up from HKD 5,676,000, marking a growth of approximately 798%[30] - The automotive rental services segment generated revenue of HKD 8,665,000 for the nine months, compared to HKD 2,570,000 in the previous year, reflecting an increase of around 237%[30] - The concert ticket sales and investment segment reported revenue of HKD 3,586,000 for the nine months, with no revenue recorded in the same period of 2022[30] Expenses and Costs - Administrative expenses for the nine months ended September 30, 2023, were HKD 10.7 million, slightly higher than HKD 10.6 million for the same period in 2022[8] - The cost of sales rose from approximately HKD 8.0 million to approximately HKD 50.3 million, an increase of 528.8% due to higher procurement costs for hotel rooms[55] - Employee costs for the nine months ended September 30, 2023, amounted to approximately HKD 8.6 million, representing a 21.1% increase compared to HKD 7.1 million for the same period in 2022[73] Dividends and Shareholder Returns - The board of directors decided not to declare an interim dividend for the nine months ended September 30, 2023, consistent with the previous year[6] - No interim dividend was recommended for the nine months ended September 30, 2023, consistent with the previous year[48] - There were no share buybacks, sales, or redemptions by the company or its subsidiaries during the nine months ending September 30, 2023[94] Financial Position - The group’s total equity as of September 30, 2023, was HKD 38.56 million, down from HKD 40.41 million as of September 30, 2022[11] - The total borrowings and lease liabilities amounted to approximately HKD 4.3 million as of September 30, 2023, down from HKD 5.2 million as of June 30, 2023[80] - The group's debt-to-equity ratio was approximately 11.2% as of September 30, 2023, compared to 13.3% as of June 30, 2023[83] - The group's cash and cash equivalents, along with bank deposits maturing in over three months, remained stable at approximately HKD 8.0 million as of September 30, 2023[80] Risk Management - The financial risk management policy has remained unchanged since December 31, 2022, indicating stability in the company's approach to managing financial risks[26] - The group is exposed to foreign exchange risks primarily due to transactions in Macanese Patacas, Hong Kong Dollars, US Dollars, and Renminbi[87] - The group does not have a foreign exchange hedging policy for assets and liabilities denominated in foreign currencies but will monitor foreign exchange risks closely[89] Corporate Governance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15 and has complied with it in all significant aspects for the nine months ending September 30, 2023, except for a deviation regarding the roles of the Chairman and CEO[90] - The audit committee was established in accordance with GEM Listing Rule 5.28, consisting of three independent non-executive directors[105] - The audit committee reviewed the unaudited condensed consolidated financial statements for the nine months ended September 30, 2023, and found them compliant with applicable accounting standards and GEM Listing Rules[105] Future Plans and Developments - The company plans to strategically seek partnerships with more hotel operators and travel agencies in Macau to enhance its market position and increase revenue streams[51] - The company plans to expand its tourism business into China and Hong Kong, identifying opportunities in the tourism sector[67] - The company will continue to monitor the risks and opportunities arising from the easing of travel restrictions in Macau[50] - The company has expanded its operations to Hong Kong, obtaining a travel agency license on March 22, 2023[50] Other Information - The financial statements for the nine months ended September 30, 2023, have not been audited but have been reviewed by the company's audit committee[23] - There were no significant events that require disclosure after September 30, 2023, up to the date of this report[104]
瀛海集团(08668) - 2023 Q3 - 季度业绩
2023-11-09 12:36
香港交易及結算所有限公司及香港聯合交易所有限公司(「聯交所」)對本公佈的內容概不負責,對其 準確性或完整性亦不發表任何聲明,並明確表示概不就因本公佈全部或任何部分內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 YING HAI GROUP HOLDINGS COMPANY LIMITED 瀛 海 集 團 控 股 有 限 公 司 (於開曼群島註冊成立的有限公司) (股份代號:8668) 截 至 二 零 二 三 年 九 月 三 十 日 止 九 個 月 之 第 三 季 度 業 績 公 告 瀛海集團控股有限公司(「本公司」)之董事(「董事」)會(「董事會」)欣然宣佈,本公司 及其附屬公司截至二零二三年九月三十日止九個月之未經審核綜合業績。本公告載 有本公司截至二零二三年九月三十日止九個月之第三季度報告(「第三季度報告」)全 文,符合聯交所GEM證券上市規則(「GEM上市規則」)有關隨附初步第三季度業績 公告的資料的相關規定。第三季度報告印刷本將於本公告日期寄發予本公司股東, 並於聯交所網站www.hkexnews.hk及本公司網站www.yinghaiholding.com可供查 閱。 承董事會命 瀛海集 ...
瀛海集团(08668) - 2023 - 中期财报
2023-08-09 12:14
Financial Performance - For the six months ended June 30, 2023, the group recorded unaudited revenue of approximately HKD 36.2 million, a significant increase of HKD 30.1 million or 493.4% compared to HKD 6.1 million for the same period in 2022[5] - The group reported an unaudited profit attributable to owners of approximately HKD 3.0 million for the six months ended June 30, 2023, compared to an unaudited loss of HKD 6.4 million for the same period in 2022[5] - Basic and diluted earnings per share for the six months ended June 30, 2023, were HKD 0.25, compared to a loss per share of HKD 0.53 for the same period in 2022[5] - The group reported a gross profit of HKD 9.4 million for the six months ended June 30, 2023, compared to a gross loss of HKD 0.3 million for the same period in 2022[7] - For the six months ended June 30, 2023, the company reported a net loss of HKD 6,327,000, compared to a net loss of HKD 18,104,000 for the same period in 2022, representing a 65% improvement in loss[11] - The total comprehensive loss for the period was HKD 6,364,000, which includes a foreign exchange loss of HKD 37,000[11] - The company achieved a net profit of HKD 2,970,000 for the six months ended June 30, 2023, compared to a net loss for the previous period[11] - The group reported a profit before tax of HKD 2,970,000 for the six months ended June 30, 2023, recovering from a loss of HKD 6,327,000 in the same period of 2022[37] Revenue Breakdown - For the six months ended June 30, 2023, total revenue reached HKD 36,199,000, a significant increase from HKD 6,123,000 in the same period of 2022, representing a growth of 493%[31] - The travel business generated revenue of HKD 29,825,000 for the six months ended June 30, 2023, compared to HKD 4,354,000 in the prior year, marking an increase of 586%[37] - The automotive business reported revenue of HKD 5,260,000 for the six months ended June 30, 2023, up from HKD 1,769,000 in the same period of 2022, reflecting a growth of 197%[37] - The concert business earned revenue of HKD 1,114,000 for the six months ended June 30, 2023, compared to no revenue in the same period of 2022[37] Cash Flow and Liquidity - Cash generated from operating activities was HKD 3,064,000, a significant recovery from cash used of HKD 4,529,000 in the prior year[19] - The company reported a net cash inflow from investing activities of HKD 470,000, down from HKD 2,101,000 in the previous year[19] - The net cash outflow from financing activities was HKD 1,987,000, slightly improved from HKD 2,018,000 in the prior year[19] - As of June 30, 2023, cash and cash equivalents increased to HKD 5,043,000 from HKD 4,361,000 at the end of the previous period[19] - The group continues to manage cash prudently to maintain sufficient liquidity for future growth opportunities[100] Assets and Liabilities - Total assets less current liabilities as of June 30, 2023, amounted to HKD 42.1 million, compared to HKD 39.6 million as of December 31, 2022[10] - The group's cash and cash equivalents increased to HKD 5.0 million as of June 30, 2023, from HKD 3.4 million as of December 31, 2022[10] - Trade receivables rose significantly to HKD 9.5 million as of June 30, 2023, compared to HKD 1.8 million as of December 31, 2022[10] - The group's total liabilities increased to HKD 26.9 million as of June 30, 2023, from HKD 13.1 million as of December 31, 2022[10] - The net asset value attributable to owners increased to HKD 39.2 million as of June 30, 2023, from HKD 36.1 million as of December 31, 2022[10] Operational Developments - The company continues to focus on expanding its operations in Macau, particularly in hotel room sales and travel-related services[21] - The group plans to strategically seek partnerships with more hotel operators and travel agencies in Macau to enhance its market position and increase revenue streams beyond hotel room sales and car rentals[65] - The group has expanded its business into Hong Kong, obtaining a travel agency license on March 22, 2023, to further capitalize on market opportunities[64] - The group aims to consolidate its market position in the Macau tourism industry and drive sustainable growth to benefit shareholders[65] Employee and Administrative Expenses - As of June 30, 2023, the group had 86 employees, an increase from 72 employees as of June 30, 2022, with employee costs stabilizing at approximately HKD 5.4 million and HKD 3.0 million for the six months ending June 30, 2022, and June 30, 2023, respectively, representing a decrease of about 44.4%[85] - The group reported employee benefits expenses of HKD 4,940,000 for the six months ended June 30, 2023, down from HKD 5,142,000 in the same period of 2022[8] - Administrative expenses remained relatively stable at 7.0 million HKD and 6.6 million HKD for the six months ended June 30, 2022, and 2023, respectively[72] Risk Management and Future Outlook - The group faced risks related to potential travel restrictions and consumer sentiment due to the pandemic, which could impact business operations[79] - The group will ensure its business plans are flexible to adapt to market conditions and will closely monitor business trends to identify favorable entrepreneurial environments[81] - The group emphasizes the importance of timing in executing its business plans, as it may struggle to identify the best moments to enter markets or expand sales channels[82] Corporate Governance - The group has not made any changes to its risk management policies since December 31, 2022[28] - The group has not engaged in any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the six months ending June 30, 2023[86] - The group had no purchases, sales, or redemptions of its listed securities during the six months ended June 30, 2023[105] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2023[115]
瀛海集团(08668) - 2023 - 中期业绩
2023-08-09 12:13
香港交易及結算所有限公司及香港聯合交易所有限公司(「聯交所」)對本公佈的內容概不負責,對其 準確性或完整性亦不發表任何聲明,並明確表示概不就因本公佈全部或任何部分內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 YING HAI GROUP HOLDINGS COMPANY LIMITED 瀛 海 集 團 控 股 有 限 公 司 (於開曼群島註冊成立的有限公司) (股份代號:8668) 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 之 中 期 業 績 公 告 瀛海集團控股有限公司(「本公司」)之董事(「董事」)會(「董事會」)欣然宣佈,本公司 及其附屬公司(統稱「本集團」)截至二零二三年六月三十日止六個月之未經審核綜合 業績。本公告載有本公司截至二零二三年六月三十日止六個月之中期報告(「中期報 告」)全文,符合聯交所GEM證券上市規則(「GEM上市規則」)有關隨附初步中期業 績公告的資料的相關規定。中期報告印刷本將於本公告日期寄發予本公司股東,並 於聯交所網站www.hkexnews.hk及本公司網站www.yinghaiholding.com可供查閱。 承董事會命 瀛海集團控股有 ...
瀛海集团(08668) - 2023 Q1 - 季度财报
2023-05-15 12:09
Financial Performance - For the three months ended March 31, 2023, the group recorded unaudited revenue of approximately HKD 15.4 million, a significant increase of HKD 11.6 million or 305.3% compared to HKD 3.8 million for the same period in 2022[6] - The group reported an unaudited profit attributable to owners of approximately HKD 2.3 million for the three months ended March 31, 2023, compared to an unaudited loss of HKD 4.2 million for the same period in 2022[6] - Basic and diluted earnings per share for the three months ended March 31, 2023, were HKD 0.19 cents, compared to a loss of HKD 0.35 cents per share for the same period in 2022[6] - Gross profit for the three months ended March 31, 2023, was HKD 5.2 million, compared to a gross loss of HKD 0.4 million for the same period in 2022[8] - The total comprehensive income for the three months ended March 31, 2023, was HKD 2.4 million, compared to a total comprehensive loss of HKD 4.2 million for the same period in 2022[8] - The group reported a profit before tax of HKD 2,332,000 for the three months ended March 31, 2023, compared to a loss before tax of HKD 4,219,000 in the same period of 2022[29] - The group reported a loss attributable to owners of the company of HKD 2.332 million for the three months ended March 31, 2023, compared to a loss of HKD 4.219 million for the same period in 2022[35] Revenue Breakdown - Revenue from the travel business was HKD 13,305,000, up from HKD 2,791,000 in the previous year, indicating a growth of 376%[29] - The automotive business generated revenue of HKD 2,056,000, compared to HKD 984,000 in the same period last year, reflecting a growth of 109%[29] - For the three months ended March 31, 2023, total revenue was HKD 15,361,000, a significant increase from HKD 3,775,000 for the same period in 2022, representing a growth of 306%[24] Expenses and Costs - Administrative expenses decreased to HKD 2.9 million for the three months ended March 31, 2023, from HKD 4.2 million in the same period of 2022[8] - The cost of sales rose by approximately 142.9%, from about HKD 4.2 million to HKD 10.2 million, primarily due to increased revenue from hotel room sales and car rental services[43] - Interest income decreased to HKD 4,000 from HKD 7,000 year-on-year, while government subsidies fell to HKD 40,000 from HKD 125,000[30] - Total financing costs decreased to HKD 73,000 from HKD 99,000 in the previous year, showing a reduction of 26%[31] Dividends and Equity - The board of directors decided not to recommend the payment of an interim dividend for the three months ended March 31, 2023, consistent with the previous year[6] - The group’s total equity as of March 31, 2023, was HKD 38.5 million, down from HKD 44.1 million as of March 31, 2022[12] - The group did not declare or propose any dividends for the three months ended March 31, 2023, consistent with the previous year[36] Strategic Plans and Market Expansion - The company continues to focus on expanding its travel and automotive services in Macau, leveraging the recovery in tourism[24] - The group plans to strategically seek partnerships with more hotel operators and travel agencies to enhance its market position in the Macau tourism industry[39] - The group aims to explore opportunities to expand its tourism business into China when suitable opportunities arise[39] - The group has expanded its operations to Hong Kong, obtaining a travel agency license on March 22, 2023[38] - The group has entered into a collaboration agreement to sponsor a series of concerts in China, with the first concert scheduled for May 2023[41] Employee and Operational Insights - As of March 31, 2023, the group had 75 employees, with employee costs amounting to approximately HKD 2.1 million, a decrease of about 27.6% compared to HKD 2.9 million for the same period in 2022[61] - The group emphasizes the importance of employee quality and compensation policies as key factors for maintaining business growth and improving profitability[59] - The group’s employee compensation is determined based on current market terms and individual performance, qualifications, and experience[61] Financial Position and Risks - As of March 31, 2023, the group’s cash and cash equivalents totaled approximately HKD 11.3 million, an increase from HKD 7.9 million as of December 31, 2022[67] - The group’s borrowings and lease liabilities amounted to approximately HKD 6.1 million as of March 31, 2023, down from HKD 7.1 million as of December 31, 2022[67] - The group faces risks related to potential travel restrictions and consumer sentiment due to the pandemic, which may impact its business operations[57] - The group may face adverse impacts if hotel operators terminate or refuse to renew agreements, affecting business and operational performance[60] - The group’s growth opportunities may be negatively impacted if it fails to obtain and maintain sufficient parking spaces at reasonable costs[60] Corporate Governance - The board believes that the dual role of the Chair and CEO held by Ms. Chow is beneficial for the company, providing strong leadership and effective long-term strategic planning[77] - The audit committee has reviewed the unaudited condensed consolidated financial statements for the three months ended March 31, 2023, and found them to comply with applicable accounting standards[88] Future Outlook - The company plans to launch a new technology platform aimed at improving user engagement, expected to roll out in Q1 2024[22] - Future outlook includes a projected revenue growth of 20% for Q4 2023, aiming for $180 million[22] - The company is investing $5 million in R&D for new product development in the next fiscal year[22] - Market expansion plans include entering two new countries, targeting a 10% market share within the first year[22] - Ying Hai Group is exploring potential acquisitions to enhance its product portfolio, with a budget of $30 million allocated for this purpose[22]