Revenue and Profit Performance - During the reporting period, revenue from the retail chain business in lighting and designer label furniture was approximately HK$20,517,000, accounting for approximately 99% of the Group's total revenue[11]. - Revenue from the tableware, giftware, and other business was approximately HK$207,000, accounting for approximately 1% of the Group's total revenue[12]. - The Group's revenue for the reporting period was approximately HK$20,724,000, representing an increase of approximately 52.4% from HK$13,598,000 in the corresponding period last year[24]. - Revenue from the retail chain business in lighting and designer label furniture was approximately HK$20,517,000, reflecting a 54.4% increase from HK$13,291,000 in the same period last year[25]. - Gross profit for the reporting period was approximately HK$11,321,000, an increase of approximately 59.9% from HK$7,081,000 in the corresponding period last year, with an overall gross profit margin of approximately 54.6%[27]. - Profit before tax was HK$1,512,000 compared to a loss of HK$456,000 in the previous year, indicating a significant turnaround[80]. - Profit attributable to the owners of the Company for the period was HK$1,329,000, compared to a loss of HK$381,000 in the same period last year[80]. - Basic and diluted earnings per share were HK$0.29, compared to a loss per share of HK$0.08 in the previous year[80]. - Profit for the period was HK$1,329,000, compared to a loss of HK$381,000 in the same period of 2020, indicating a turnaround in profitability[113]. Market and Business Strategy - The Group successfully opened two new retail stores during the reporting period, increasing its market share[10]. - The retail sales value in Hong Kong has shown growth for five consecutive months from February 2021 to June 2021 compared to the previous year[16]. - The Directors expect a significant recovery in the retail market when social distancing rules are relaxed, with the electronic Consumption Voucher Scheme anticipated to stimulate local consumption in the second half of the year[17]. - The Group plans to focus on consolidating its retail network, optimizing product mix, and intensifying cost control to stabilize growth[18]. - The Group is actively developing smart home and COVID-19 related products, seeking new opportunities in these areas[18]. - The Group aims to maintain a streamlined business operation while being responsive to market changes and consumer needs[21]. - The Directors foresee challenges in the retail market due to the local epidemic's development, but are cautiously optimistic about future growth opportunities[17]. - The Group remains cautiously optimistic about future development, leveraging capital market support and global trends towards environmental sustainability and quality living[22]. - The increase in revenue and profit is attributed to timely adjustments in product strategies and active promotional activities[24]. - The Group aims to maintain stable development and strive for greater returns for investors[22]. Expenses and Financial Management - Selling and distribution expenses were approximately HK$6,454,000, up by approximately 6.5% from HK$6,058,000 in the same period last year, primarily due to increased staff costs[28]. - Administrative and other expenses amounted to approximately HK$3,172,000, representing a 5.5% increase from HK$3,006,000 in the corresponding period last year, mainly driven by higher staff costs[35]. - Employee costs rose to HK$4,352,000, a 19.3% increase compared to HK$3,647,000 in the previous year[106]. - Costs of inventories recognized as expenses increased to HK$8,172,000 from HK$5,596,000, reflecting a rise of 46.5%[103]. - Auditor's remuneration increased to HK$175,000 from HK$150,000, reflecting a 16.7% rise[103]. Shareholder Information - As of June 30, 2021, Mr. Hui Kwok Keung Raymond holds 210,000,000 shares, representing approximately 46.56% of the total issued shares[54]. - Mr. Hue Kwok Chiu, as a beneficial owner, holds 45,000,000 shares, which is about 9.98% of the total issued shares[60]. - The total number of shares available for issue under the Share Option Scheme is 40,000,000 shares, accounting for approximately 8.87% of the total number of issued shares[65]. - The interests of substantial shareholders include Time Prestige Ventures Limited, which holds 210,000,000 shares, equivalent to 46.56%[60]. - Ms. Ng Hiu Ying, as the spouse of Mr. Hue Kwok Chiu, is deemed to be interested in the same number of shares, totaling 45,000,000 shares or 9.98%[61]. - As of June 30, 2021, no other persons or corporations (excluding Directors and Chief Executives) had interests or short positions in the shares of the Company recorded in the register[61]. Compliance and Governance - The Audit Committee reviewed the unaudited consolidated results for the three months ended June 30, 2021, confirming compliance with applicable accounting standards and legal requirements[71]. - The Company has maintained a sufficient public float as of the date of the report[74]. - The Company did not have a compliance adviser after the engagement of Ample Capital Limited ended on June 30, 2017[66]. - The Company has adopted new and revised HKFRSs relevant to its operations, with no significant effects on current and prior periods[91]. - The Company is assessing the potential impact of new HKFRSs that will be effective in future periods[92]. - The financial statements have been reviewed by the Company's audit committee, ensuring compliance with applicable standards[94]. Dividend Information - The Group has not recommended the payment of any dividend for the three months ended June 30, 2021[37]. - No dividend was recommended for the three months ended June 30, 2021, consistent with the previous year[110].
壹照明(08222) - 2022 Q1 - 季度财报