Financial Performance - Revenue for the three months ended June 30, 2023, was HKD 37,464,000, representing an increase of 12.7% compared to HKD 33,341,000 for the same period in 2022[4] - Gross profit for the nine months ended June 30, 2023, was HKD 16,699,000, a decrease of 4.4% from HKD 17,471,000 for the same period in 2022[4] - The net loss for the three months ended June 30, 2023, was HKD 1,627,000, compared to a net loss of HKD 5,124,000 for the same period in 2022, indicating an improvement of 68.3%[4] - The total comprehensive loss for the nine months ended June 30, 2023, was HKD 18,409,000, compared to HKD 15,217,000 for the same period in 2022, reflecting a decline of 14.4%[4] - Basic loss per share for the three months ended June 30, 2023, was HKD 0.70, compared to HKD 0.94 for the same period in 2022[4] - The company reported a net loss of HKD 17,033,000 for the nine months ending June 30, 2023[38] - For the nine months ended June 30, 2023, the group reported a loss of HKD 15,573,000, compared to a loss of HKD 13,106,000 for the same period in 2022, representing an increase in loss of approximately 18.8%[53] Revenue Sources - Revenue from the sale of natural gas for the nine months ending June 30, 2023, was HKD 111,227,000, an increase from HKD 92,809,000 for the same period in 2022, representing a growth of 19.5%[42] - Total revenue from other sources for the nine months ending June 30, 2023, was HKD 116,908,000, compared to HKD 103,622,000 in the previous year, indicating a growth of 12.8%[42] - The group's unaudited revenue increased from approximately HKD 103,964,000 for the nine months ended June 30, 2022, to approximately HKD 121,015,000 for the nine months ended June 30, 2023, primarily driven by the natural gas segment's revenue of approximately HKD 115,210,000[68] Expenses and Costs - Other income for the nine months ended June 30, 2023, was HKD 546,000, compared to HKD 1,799,000 for the same period in 2022, indicating a decrease of 69.7%[4] - The group incurred finance costs of HKD 3,563,000 for the nine months ended June 30, 2023, compared to HKD 2,041,000 for the same period in 2022, reflecting an increase of approximately 74.5%[47] - The group's total employee benefits expenses, including salaries and bonuses, amounted to HKD 9,738,000 for the nine months ended June 30, 2023, compared to HKD 9,191,000 for the same period in 2022, an increase of approximately 5.9%[50] - The group's cost of goods sold for the nine months ended June 30, 2023, was HKD 97,877,000, compared to HKD 78,396,000 in the previous year, representing an increase of approximately 24.9%[50] - The total operating expenses rose from approximately HKD 28,998,000 for the nine months ended June 30, 2022, to approximately HKD 31,706,000 for the nine months ended June 30, 2023, attributed to significant foreign exchange losses and increased professional fees[68] Financial Position - As of June 30, 2023, the company had a net current liability of HKD 8,704,000, raising significant doubt about its ability to continue as a going concern[38] - The company reported a cumulative loss of HKD 370,363,000 as of June 30, 2023[43] - The total borrowings of the group amounted to approximately HKD 123,300,000 as of June 30, 2023, compared to HKD 81,496,000 as of September 30, 2022[70] - The group's total debt-to-equity ratio was approximately 181% as of June 30, 2023, compared to 93% as of September 30, 2022[70] Market Outlook and Strategy - The company is focused on expanding its market presence and exploring new strategies for growth[2] - Management believes that the economic recovery will positively impact the group's two core businesses in the coming year[76] - The natural gas segment is expected to continue growing due to increased demand from industrial customers as the domestic economy recovers[77] - The rental business revenue is expected to increase as clients catch up on project timelines following the relaxation of pandemic control measures[79] Governance and Compliance - The company has complied with all provisions of the GEM Listing Rules corporate governance code, except for the separation of the roles of Chairman and CEO[86] - The board is actively seeking suitable candidates to fill the vacancy of independent non-executive director to comply with GEM Listing Rules[87] - The audit committee has reviewed the unaudited condensed consolidated financial statements for the nine months ended June 30, 2023[88] Employee and Shareholder Information - As of June 30, 2023, the company employed 55 staff, a decrease from 61 staff as of June 30, 2022[79] - The total equity held by the directors and CEO in the company includes 18,437,500 shares (4.04%) by Mr. Ng and 8,600,000 shares (1.89%) by Mr. Wang as of June 30, 2023[81] - No stock options have been granted, exercised, canceled, or lapsed under the stock option plan since its adoption on August 20, 2020[83] Financial Reporting and Standards - The company has adopted all new and revised Hong Kong Financial Reporting Standards effective from October 1, 2022, with no significant impact on its financial statements[41] - The company has not early adopted any other standards, interpretations, or amendments that have been issued but are not yet effective[41] Risk Management - The company continues to monitor its foreign exchange risks due to most transactions, assets, and liabilities being denominated in HKD and RMB[79] - The company has not entered into any agreements or commitments to hedge against RMB exchange rate risks as of June 30, 2023[79] - The group recognized government subsidies of HKD 51,000 related to the employment support scheme for COVID-19, down from HKD 165,000 in the previous year[48]
环球战略集团(08007) - 2023 Q3 - 季度财报