Financial Performance - Revenue for the first quarter ended September 30, 2021, was HKD 27,204,000, a decrease of 28.4% compared to HKD 37,949,000 in the same period of 2020[6] - Gross profit for the first quarter was HKD 2,521,000, down 12.4% from HKD 2,876,000 year-on-year[6] - The company reported a loss before tax of HKD 2,703,000, compared to a loss of HKD 1,084,000 in the previous year, indicating a significant increase in losses[6] - Basic and diluted loss per share for the first quarter was HKD 0.34, compared to HKD 0.16 in the same period last year[6] - Revenue decreased by approximately 28.2% from HKD 37,900,000 in 2020 to HKD 27,200,000 in 2021 due to project delays caused by the COVID-19 pandemic[24] - Cost of sales reduced by approximately 29.6% from HKD 35,100,000 in 2020 to HKD 24,700,000 in 2021, attributed to project delays and fewer construction orders[25] - Gross profit fell by approximately 13.8% from HKD 2,900,000 in 2020 to HKD 2,500,000 in 2021, influenced by lower gross margins on projects[26] - Other income decreased significantly from HKD 1,300,000 in 2020 to HKD 800,000 in 2021, primarily due to the cessation of government financial support programs[27] - Basic loss per share increased from HKD 1,285,000 in 2020 to HKD 2,703,000 in 2021, reflecting a significant rise in losses attributable to shareholders[22][31] Administrative and Other Expenses - Administrative expenses increased slightly to HKD 5,278,000 from HKD 5,198,000 year-on-year, reflecting a 1.5% rise[6] - Administrative expenses increased by approximately 1.9% from HKD 5,200,000 in 2020 to HKD 5,300,000 in 2021, mainly due to foreign exchange gains[28] - Other income decreased significantly to HKD 76,000 from HKD 1,268,000, a decline of 93.0% year-on-year[6] Equity and Shareholder Information - The total equity attributable to the owners of the company as of September 30, 2021, was HKD 126,906,000, down from HKD 129,609,000 at the beginning of the period[7] - As of September 30, 2021, Best Brain holds 250,000,000 shares, representing 31.25% of the total issued share capital[39] - A total of 49,200,000 share options remain unexercised as of September 30, 2021[48] - The company has not proposed any dividends for the period ending September 30, 2020[46] - The board does not recommend an interim dividend for the period, consistent with the previous year[21] Corporate Governance and Compliance - The audit committee, consisting of three independent non-executive directors, has reviewed the financial reporting procedures and internal control systems[52] - There are no known conflicts of interest between the directors and the company's business[41] - The company has complied with the corporate governance code throughout the relevant period[44] - The company has adopted a code of conduct for securities trading by directors, which has been adhered to during the relevant period[45] Business Development and Future Outlook - The company has not reported any new product developments or market expansions during the quarter[10] - There were no significant mergers or acquisitions reported in the first quarter[10] - The company continues to evaluate the impact of new accounting standards on its financial performance but has not adopted any new standards that would significantly affect its results[11] - The company aims to explore new business opportunities and investments to enhance long-term profitability, including a joint venture in Sichuan, China[33] - Future opportunities are expected to be influenced by competition in the construction market and the performance of the Hong Kong property market[32] - The company submitted 20 construction project bids during the period and operated approximately 16 projects, with one new project initiated[32] Securities Transactions - The company has not purchased, sold, or redeemed any of its listed securities during the relevant period[42] - No share options were exercised during the reporting period[51]
宏强控股(08262) - 2022 Q1 - 季度财报