Financial Performance - Revenue for the first quarter of 2021/2022 was HKD 13,383,000, a decrease of 16.5% from HKD 15,984,000 in the same period last year[6] - Gross profit was HKD 1,269,000, down from HKD 2,029,000, resulting in a gross margin of approximately 9.5%[6] - Operating loss increased to HKD 3,066,000 compared to a loss of HKD 2,804,000 in the previous year[6] - Loss before tax was HKD 3,301,000, slightly improved from HKD 3,781,000 year-on-year[6] - The company reported a total comprehensive loss of HKD 3,285,000, compared to HKD 4,090,000 in the previous year[8] - The company’s basic and diluted loss per share was HKD 0.41, compared to HKD 0.36 in the previous year[6] - The company reported a loss attributable to shareholders of approximately HKD 3,237,000 for the three months ended September 30, 2021, compared to a loss of HKD 2,734,000 for the same period in 2020, representing an increase in loss of about 18.4%[26] Revenue Breakdown - Total revenue for the period was approximately HKD 13,383,000, a decrease of about 16% compared to HKD 15,984,000 in the same period of 2020[26] - The swimwear and apparel segment generated revenue of approximately HKD 1,147,000, down from HKD 3,528,000 in the same period last year, indicating a decline of about 67.5%[26] - The e-commerce and online shopping segment reported revenue of approximately HKD 11,809,000, an increase of about 10% from HKD 10,733,000 in the previous year[27] - The lending segment generated revenue of approximately HKD 427,000, a significant decrease of about 75.2% from HKD 1,723,000 in the same period last year[28] Profit Margins - The gross profit for the swimwear and apparel segment was approximately HKD 140,000, compared to a gross loss of HKD 218,000 in the same period last year, resulting in a gross margin of 12%[26] - The gross profit for the e-commerce segment was approximately HKD 702,000, with a gross margin of 6%, up from 5% in the previous year[27] Corporate Governance - The company does not recommend the payment of dividends for the three months ended September 30, 2021, consistent with the previous year[22] - The audit committee, composed of three independent non-executive directors, reviewed the unaudited results for the three months ending September 30, 2021[46] - The company has complied with the GEM Listing Rules on corporate governance, except for a specific provision[47] - The company has established an audit committee to oversee financial reporting and internal controls[46] - The company has adopted a code of conduct for directors regarding securities trading, which complies with GEM Listing Rules sections 5.48 to 5.67[49] - All directors have adhered to the established trading standards during the three-month period ending September 30, 2021[49] - The company is not aware of any incidents of employees violating the code of conduct[50] Business Strategy - The company continues to focus on high-end swimwear and apparel production, e-commerce, and lending services as part of its business strategy[14] - The company plans to continue cost-cutting measures and rationalize its production base in response to the adverse impacts of the COVID-19 pandemic on its swimwear and apparel segment[31] - The company aims to expand its e-commerce business and capitalize on anticipated market recovery opportunities despite ongoing uncertainties[31] Shareholder Information - As of September 30, 2021, the company had no unexercised share options under the plan, consistent with the previous year[33] - The company’s major shareholders include Mr. Liu with 149,074,199 shares (18.88% of issued share capital) and JL Investments with 141,674,199 shares (17.94%)[40] - Big Good Management Limited holds 135,053,384 shares, representing 17.10% of the issued share capital[40] - The total issued share capital as of September 30, 2021, was 789,745,615 shares[42] - The company did not repurchase any shares during the reporting period[46] - No major shareholders or directors are known to have any competing business interests as of September 30, 2021[46] Share Options - The exercise price of share options is determined by the board and cannot be lower than the highest of the closing price on the date of the offer or the average closing price over the previous five trading days[35]
荟萃国际(控股)(08041) - 2022 Q1 - 季度财报