Financial Performance - The group's revenue for the three months ended June 30, 2023, was approximately HKD 16.8 million, a decrease of about HKD 1.8 million or 9.7% compared to the same period in 2022[24]. - The net loss attributable to owners for the period was approximately HKD 0.6 million, an increase of about HKD 0.3 million or 32.2% compared to the same period in 2022[24]. - Total comprehensive expenses for the period were approximately HKD 0.6 million, an increase of about HKD 0.4 million or 37.7% compared to the same period in 2022[24]. - Revenue for the three months ended June 30, 2023, was HKD 16,847,000, a decrease of 9.6% from HKD 18,648,000 in the same period of 2022[25]. - Gross profit for the same period was HKD 11,617,000, down 6.4% from HKD 12,411,000 year-on-year[25]. - Loss before tax for the quarter was HKD 643,000, an improvement from a loss of HKD 948,000 in the previous year[25]. - Basic and diluted loss per share for the period was HKD 0.04, compared to HKD 0.06 in the same quarter of 2022[25]. - The total comprehensive loss attributable to equity holders for the period was HKD 645,000, compared to HKD 1,035,000 in the same quarter of 2022[25]. - The company recorded an unaudited consolidated loss of approximately HKD 0.6 million for the period, compared to a loss of approximately HKD 0.9 million for the three months ended June 30, 2022[88]. Revenue Sources - Furniture and home accessories sales for the three months ended June 30, 2023, were HKD 14.268 million, down from HKD 15.689 million in the same period of 2022[11]. - Commission income for the period was HKD 893,000, compared to HKD 1.686 million in the same period of 2022[11]. - The total revenue from all sources for the three months ended June 30, 2023, was HKD 16.847 million, down from HKD 18.648 million in the same period of 2022[11]. - Direct sales revenue for the period was approximately HKD 14.0 million, a decrease of about HKD 1.5 million or 9.4% compared to HKD 15.5 million for the same period last year[108]. - Rental income for the group was nil during the period, compared to approximately HKD 15,000 for the three months ended June 30, 2022[93]. - Commission income decreased from approximately HKD 2.0 million to about HKD 1.7 million during the period[110]. - Food and beverage revenue from TREE Café remained stable at approximately HKD 0.9 million for both periods[109]. Expenses and Cost Management - Administrative expenses decreased to HKD 5,043,000 from HKD 5,954,000, reflecting a reduction of 15.3%[25]. - Sales and marketing expenses were reduced to HKD 8,495,000, down from HKD 8,843,000, indicating a decrease of 3.9%[25]. - The cost of sales decreased from approximately HKD 6.2 million to approximately HKD 5.2 million, a reduction of about 16.1%, primarily related to the decrease in furniture and home decor sales[65]. - The company's administrative expenses decreased by approximately 15.3% from about HKD 6.0 million to about HKD 5.0 million, mainly due to reduced office expenses[85]. Dividend and Shareholder Information - The company did not recommend the payment of an interim dividend for the period[24]. - The company does not recommend the payment of an interim dividend for the period, consistent with the previous year[63]. - Major shareholder Yu Ding holds 47.09% of the company's shares, fully owned by Mr. Tang[114]. - The average number of ordinary shares for calculating basic loss per share remained at 1,584,000 shares for both periods[78]. - No share options were granted under the share option scheme during the period[130]. Corporate Governance and ESG Initiatives - The group has adopted strict corporate governance practices in line with GEM listing rules[121]. - The company emphasizes ESG initiatives, having planted nearly 100,000 trees in partnership with Indonesian partners[111]. - The company aims for carbon neutrality and has received low carbon care labels for its efforts in sustainable development[111]. - The company has established an audit committee in accordance with GEM listing rules and corporate governance codes, focusing on financial reporting and risk management[131]. - The audit committee's responsibilities include recommending the appointment and dismissal of external auditors and reviewing financial statements[131]. Business Strategy and Market Focus - The company continues to focus on its core business of furniture and home decor sales, distribution, and leasing, while exploring new market opportunities[28]. - The company plans to continue focusing on its two TREE retail stores and e-commerce platform, while expanding its furniture rental business[73]. - The company aims to integrate and invest to enhance current revenue sources and explore new opportunities[73].
齐家控股(08395) - 2024 Q1 - 季度业绩