Financial Performance - For the three months ended June 30, 2023, the company recorded revenue of approximately HKD 122.9 million, a decrease of about HKD 1.7 million or 1.4% compared to HKD 124.6 million for the same period in 2022[19] - The net profit attributable to the owners of the company for the same period was approximately HKD 11.1 million, down by about HKD 5.2 million from HKD 16.3 million in the prior year, primarily due to a decrease in gross profit during the period[19] - The gross profit for the three months ended June 30, 2023, was HKD 18.1 million, compared to HKD 23.4 million for the same period in 2022, reflecting a decline in profitability[21] - The total comprehensive income for the period was HKD 11.1 million, compared to HKD 16.3 million for the same period in 2022[21] - The company reported a pre-tax profit of HKD 13.2 million, down from HKD 19.5 million in the previous year, highlighting a decline in overall profitability[21] - The basic earnings per share for the period was HKD 3.97, down from HKD 5.82 in the same period last year[21] - The profit attributable to the owners of the company for the three months ended June 30, 2023, was approximately HKD 11.1 million, a decrease from HKD 16.3 million for the same period in 2022, primarily due to a reduction in gross profit[69] Revenue Breakdown - Revenue from frozen seafood resellers was HKD 119.4 million, while revenue from frozen seafood catering service providers was HKD 3.5 million, totaling HKD 122.9 million for the three months ended June 30, 2023[54] - Revenue from external customers by region for the three months ended June 30, 2023, was HKD 87.8 million from Hong Kong, HKD 10.5 million from Macau, HKD 24.4 million from Mainland China, and HKD 0.2 million from Japan[54] - The group's revenue for the three months ended June 30, 2023, was approximately HKD 122.9 million, a slight decrease of about 1.4% from HKD 124.6 million for the same period in 2022[47] Cost and Expenses - The cost of goods sold for the three months ended June 30, 2023, was HKD 104.9 million, compared to HKD 101.3 million in the same period last year, showing an increase in costs[21] - For the three months ended June 30, 2023, the cost of goods sold was approximately HKD 104.9 million, an increase of about 3.6% from HKD 101.3 million for the same period in 2022[65] - The company’s administrative expenses increased to HKD 2.1 million from HKD 2.0 million in the previous year, indicating a rise in operational costs[21] - Administrative expenses for the three months ended June 30, 2023, were approximately HKD 2.1 million, an increase of about 9.7% from HKD 2.0 million for the same period in 2022[67] - The sales and distribution costs remained relatively stable at approximately HKD 2.8 million, slightly increasing by about 4.3% from HKD 2.7 million for the same period in 2022, accounting for approximately 2.3% of total revenue[67] Dividends and Shareholder Returns - The company did not recommend the payment of dividends for the three months ended June 30, 2023[19] - The company does not recommend the payment of an interim dividend for the period[40] - The company did not recommend any dividend distribution for the three months ended June 30, 2023[74] Strategic Initiatives - The company plans to strengthen its business development efforts and closely monitor operational conditions in response to the decrease in revenue and net profit[62] - The company aims to enhance its market position in the frozen seafood import and wholesale industry in Hong Kong through financial resources from the proceeds of the share offering[45] - The company will continue to seek exclusive agency or sales arrangements with existing and new overseas suppliers to enrich its product portfolio and maintain competitiveness[46] - The company is committed to expanding its market presence and enhancing shareholder value through strategic initiatives[105] Governance and Compliance - The company has complied with the corporate governance code since its listing on October 19, 2017[105] - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ended June 30, 2023, and found them to comply with applicable accounting standards and GEM listing rules[114] - The audit committee consists of three independent non-executive directors, ensuring oversight of financial reporting and internal controls[113] - The company has maintained a transparent disclosure of its financial performance and governance practices[114] Market Conditions and Challenges - The board anticipates facing significant challenges in the current year despite expectations of economic recovery in Hong Kong, particularly due to potential impacts from Japan's planned discharge of radioactive wastewater[85] Financial Position - As of June 30, 2023, the company's debt-to-equity ratio was approximately 0.8%, a slight decrease from 0.9% as of March 31, 2023[72] - The total equity attributable to the owners of the company was approximately HKD 243.0 million as of June 30, 2023, compared to HKD 231.8 million as of March 31, 2023[90] - The net proceeds from the listing amounted to approximately HKD 63.0 million, which the board believes will strengthen the company's financial position for business expansion[91] Shareholder Interests - No major shareholders or directors have disclosed any interests or short positions in the company's shares as of the report date[101] - The company has not reported any conflicts of interest involving its major shareholders or directors during the reporting period[110] - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the three months ended June 30, 2023[102] - The company has not engaged in any business that directly or indirectly competes with its operations during the three months ended June 30, 2023[110] - The share option scheme was adopted on September 21, 2017, to reward eligible participants for their contributions to the group[103]
大洋环球控股(08476) - 2024 Q1 - 季度财报