GAMEONE(08282)2023-11-14 08:43Financial Performance - For the three months ended September 30, 2023, the revenue was HKD 19,777,000, a decrease of 29.7% compared to HKD 28,155,000 for the same period in 2022[3] - The gross profit for the nine months ended September 30, 2023, was HKD 19,337,000, down 12.0% from HKD 21,975,000 in the same period of 2022[3] - The operating loss for the three months ended September 30, 2023, was HKD 6,435,000, compared to a loss of HKD 6,144,000 in the same period of 2022[3] - The total comprehensive loss attributable to owners for the nine months ended September 30, 2023, was HKD 16,027,000, significantly higher than HKD 5,971,000 for the same period in 2022[4] - The basic and diluted loss per share for the three months ended September 30, 2023, was HKD 2.69, compared to HKD 3.80 for the same period in 2022[3] - The company reported a total equity of HKD 28,552,000 as of September 30, 2023, down from HKD 34,652,000 as of January 1, 2022[4] - The company incurred financing costs of HKD 35,000 for the nine months ended September 30, 2023, compared to HKD 9,000 in the same period of 2022[3] - The total operating loss for the nine months ended September 30, 2023, was HKD 16,271,000, compared to an operating loss of HKD 7,900,000 in the same period of 2022[17] - The company recorded a loss of approximately HKD 16.3 million for the nine months ended September 30, 2023, compared to a loss of HKD 7.9 million in the same period of 2022[37] Revenue Breakdown - The company’s total revenue for the nine months ended September 30, 2023, was HKD 97,136,000, an increase of 42.7% from HKD 68,077,000 in the same period of 2022[3] - Software services revenue for the nine months ended September 30, 2023, was HKD 61,847,000, up 61.9% from HKD 23,668,000 in the same period of 2022[23] - The gaming business revenue for the nine months ended September 30, 2023, was HKD 35,289,000, a decrease of 20.5% from HKD 44,409,000 in the same period of 2022[17] - Three major customers contributed over 10% of total revenue for the nine months ended September 30, 2023, with Customer A contributing HKD 34,910,000[21] - The company’s revenue for the nine months ended September 30, 2023, was approximately HKD 97.1 million, an increase of about 42.6% compared to HKD 68.1 million for the same period in 2022[31] Expenses and Costs - The company’s administrative expenses for the nine months ended September 30, 2023, were HKD 23,483,000, up from HKD 11,845,000 in the same period of 2022[3] - The cost of services provided increased by approximately 68.8% to HKD 77.8 million for the nine months ended September 30, 2023, from HKD 46.1 million in the same period of 2022[32] - Gross profit decreased by approximately 12.3% to HKD 19.3 million for the nine months ended September 30, 2023, down from HKD 22.0 million in the same period of 2022[34] - The gross profit margin declined by approximately 12.4 percentage points to 19.9% for the nine months ended September 30, 2023, compared to 32.3% for the same period in 2022[34] - Administrative expenses increased by approximately 99.2% to HKD 23.5 million for the nine months ended September 30, 2023, from HKD 11.8 million in the same period of 2022[36] Dividends and Taxation - The company did not declare or pay any dividends for the nine months ended September 30, 2023, consistent with the same period in 2022[26] - The company did not incur any taxable profits in mainland China, Taiwan, or Hong Kong for the nine months ended September 30, 2023, resulting in no tax provisions[25] - The company did not recommend the payment of dividends for the nine months ended September 30, 2023[38] Corporate Governance and Compliance - The audit committee, consisting of independent non-executive directors, reviewed the unaudited consolidated results for the nine months ended September 30, 2023, ensuring compliance with applicable accounting standards and GEM listing rules[56] - The company has adhered to the corporate governance code as per GEM listing rules, with a noted deviation regarding the roles of Chairman and CEO being held by the same individual[50] - The company has implemented a code of conduct for securities trading by directors, which has been adhered to throughout the review period[49] Business Strategy and Market Position - The company allocated more resources to its internet security technology services business due to significant market opportunities and strong demand in mainland China[30] - The company is focused on integrating upstream and downstream services in the gaming industry to enhance its market position[30] - The company experienced a decrease in operating income from licensed mobile games, contributing to the overall loss[37] Other Information - No significant acquisitions or disposals occurred during the nine months ended September 30, 2023[47] - The company maintained a public float of 25% as required by GEM listing rules as of the report date[52] - The stock option plan approved on December 23, 2015, allows for a total of 16,000,000 options to be granted, representing 6.7% of the issued share capital as of the report date[54] - There were no stock options granted, exercised, expired, or cancelled during the nine months ended September 30, 2023[54] - No major subsequent events occurred after September 30, 2023, up to the report date[57] - The company has not engaged in any business that competes directly or indirectly with its operations during the nine months ended September 30, 2023[48] - The quarterly results announcement and report will be sent to shareholders and published on the company's website[58]