Financial Performance - For the nine months ended December 31, 2021, the Company reported revenue of HK$46,446,000, a decrease of 7.3% compared to HK$49,850,000 for the same period in 2020[8]. - The gross profit for the nine months was HK$8,974,000, down 2.4% from HK$9,192,000 in the previous year[8]. - The loss before tax for the nine months was HK$9,943,000, an increase of 25.1% compared to HK$7,951,000 for the same period in 2020[10]. - The loss attributable to owners of the Company for the nine months was HK$9,943,000, compared to HK$7,951,000 in the previous year, reflecting a 25.1% increase[10]. - The total comprehensive loss for the period attributable to owners of the Company was HK$9,946,000, compared to HK$7,974,000 in the previous year[10]. - The company reported a loss for the period of HK$9,943,000, compared to a loss of HK$7,951,000 for the same period in the previous year, indicating an increase in losses of approximately 25%[13]. - The total comprehensive loss for the nine months ended December 31, 2021, was HK$9,946,000, which includes other comprehensive losses of HK$3,000[13]. - The Group recorded a loss of approximately HK$9.9 million for the nine months ended December 31, 2021, an increase in loss of approximately HK$1.9 million from HK$8.0 million for the same period in 2020[110]. Revenue Breakdown - Revenue from design, fitting out, and engineering services for the nine months ended December 31, 2021, was HK$26,828,000, down from HK$30,353,000 in 2020, indicating a decrease of about 11.8%[40]. - Revenue from leasing of construction equipment increased significantly to HK$11,113,000 for the nine months ended December 31, 2021, compared to HK$5,782,000 in 2020, reflecting an increase of approximately 92.5%[40]. - Revenue from the sale of fine and rare wines decreased to HK$8,088,000 for the nine months ended December 31, 2021, from HK$13,123,000 in 2020, marking a decline of about 38.3%[40]. - Revenue from public housing maintenance, improvement, and vacant flat refurbishment works amounted to approximately HK$12.5 million, representing about 46.6% of the segment revenue for the current period, with an 86.6% growth[115]. Expenses and Costs - Administrative expenses for the nine months were HK$18,818,000, an increase of 8.0% from HK$17,410,000 in the previous year[8]. - Interest income from money lending for the nine months ended December 31, 2021, was HK$407,000, compared to HK$569,000 in 2020, representing a decrease of about 28.4%[40]. - Salaries and wages included in administrative expenses for the nine months ended December 31, 2021, amounted to HK$9,137,000, compared to HK$8,785,000 in 2020[51]. - Depreciation of property, plant, and equipment for the nine months ended December 31, 2021, was approximately HK$6,099,000, up from HK$4,585,000 in the same period of 2020[51]. - Finance costs for the nine months ended December 31, 2021, were HK$431,000, a decrease from HK$926,000 in the same period of 2020[49]. Share Capital and Equity - The company issued new shares under a rights issue amounting to HK$31,356,000, with transaction costs of HK$1,428,000 attributed to the issuance[13]. - As of December 31, 2021, the issued and fully paid ordinary shares stood at 156,780,000, with a share capital of HK$205,523,000[69]. - The weighted average number of ordinary shares for the nine months ended December 31, 2021, was 156,780,000, up from 64,321,000 in 2020, reflecting a significant increase in share issuance[61]. - No dividends were recommended for the nine months ended December 31, 2021, consistent with the previous year where no dividends were declared[64]. Compliance and Governance - The Group's financial statements have been prepared in accordance with the Hong Kong Financial Reporting Standards (HKFRSs) and GEM Listing Rules, ensuring compliance with applicable disclosure requirements[16]. - The Group has not early adopted new and revised HKFRSs that are not yet effective, indicating a cautious approach to accounting changes[26]. - The Audit Committee comprises three independent non-executive Directors and is responsible for reviewing the Group's financial reporting process and internal control systems[199]. - The company has established an audit committee, a remuneration committee, a nomination committee, and a compliance committee as per GEM Listing Rules requirements[198]. - The Board has adopted the principles and code provisions of the Corporate Governance Code to ensure proper regulation of business activities and decision-making processes[195]. Risks and Future Outlook - The Company has acknowledged the potential risks associated with investing in small and mid-sized companies listed on GEM, which may experience higher market volatility[2]. - The Group is currently assessing the potential impact of new and revised Hong Kong Financial Reporting Standards on its financial statements, with no significant impact anticipated at this time[27]. - The Group is optimistic about securing further public housing estates works and services, actively coordinating with contractors for new term contracts[115]. - Management is actively negotiating with customers to rebound the lease out rate of scaffolding equipment to above 70%[122]. Assets and Liabilities - As of December 31, 2021, the total capital was HK$205,523,000, with accumulated losses of HK$121,834,000, resulting in a total comprehensive loss of HK$9,946,000 for the period[13]. - The Group's net current assets were approximately HK$22.1 million as of 31 December 2021, down from HK$25.0 million as of 31 March 2021[134]. - Cash and bank balances decreased to approximately HK$6.9 million as of 31 December 2021 from HK$16.7 million as of 31 March 2021[134]. - The Group's borrowings included lease liabilities of approximately HK$14.4 million as of 31 December 2021, compared to HK$13.6 million as of 31 March 2021[136]. - The gearing ratio increased to approximately 17.2% as of 31 December 2021 from 14.5% as of 31 March 2021[136].
中新控股(08125) - 2022 Q3 - 季度财报