Financial Performance - The Group recorded a revenue of approximately HK$28,606,000 for the three months ended June 30, 2022, representing a significant decrease of approximately 71.73% compared to HK$101,199,000 in the same period in 2021[8]. - The unaudited consolidated loss attributable to owners of the Company was approximately HK$4,208,000, a significant increase of approximately 944.17% compared to a loss of HK$403,000 in the same period last year[9]. - The gross profit for the Group was HK$887,000, down from HK$2,625,000 in the same period of 2021, indicating a decline in profitability[13]. - The loss before tax for the period was HK$4,327,000, compared to a loss of HK$51,000 in the same period last year[13]. - Other comprehensive income for the period resulted in a total comprehensive loss of HK$14,011,000, compared to a comprehensive income of HK$5,379,000 in the same period of 2021[15]. - The loss per share for the period was HK$7.14, compared to HK$0.68 in the same period of 2021[15]. - Revenue for the three months ended June 30, 2022, was HK$28,606, a decrease of 71.7% compared to HK$101,199 in the same period of 2021[37]. - The cost of sales for the same period was approximately HK$27,719,000, down from HK$98,574,000 in 2021, resulting in a gross profit of approximately HK$887,000, compared to HK$2,625,000 in 2021[54]. Dividend and Shareholder Information - The Board does not recommend the payment of an interim dividend for the three months ended June 30, 2022, consistent with no dividend in the same period of 2021[9]. - The company did not recommend the payment of an interim dividend for the three months ended June 30, 2022, consistent with the previous year[50]. - As of June 30, 2022, Mr. Chen Haining holds 7,141,000 shares, representing approximately 12.12% of the issued share capital of the Company[76]. - Keen Insight Limited, Hony Capital Group L.P., Hony Group Management Limited, and Hony Managing Partners Limited each hold 8,250,000 shares, accounting for approximately 14.01% of the issued share capital of the Company[83]. - Exponential Fortune Group Limited and Mr. Zhao John Huan also hold 8,250,000 shares, representing approximately 14.01% of the issued share capital of the Company[86]. - As of June 30, 2022, Mark Profit Development Limited holds 3,585,000 shares, representing approximately 6.09% of the issued share capital of the Company[86]. - Easyknit International Holdings Limited holds 5,770,000 shares, accounting for approximately 9.80% of the issued share capital of the Company[86]. - Substantial shareholders include Magical Profits Limited, Accumulate More Profits Limited, The Winterbotham Trust Company Limited, The Magical 2000 Trust, Ms. Koon Ho Yan Candy, and Winterbotham Holdings Limited, each holding 5,770,000 shares, representing approximately 9.80% of the issued share capital[89][92]. - The total issued share capital of the company as of June 30, 2022, is 58,900,537 shares[94]. - Glory Link Investment Limited holds 2,185,000 shares, approximately 3.71% of the issued share capital[94]. - No short positions in underlying shares or equity derivatives were recorded as of June 30, 2022[97]. - The company has no provisions for pre-emptive rights under its Articles of Association, meaning new shares are not offered on a pro-rata basis to existing shareholders[102]. Operational and Market Insights - The company is primarily engaged in LNG trading, investment in financial assets, general trading, and lending services[19]. - The management remains cautiously optimistic about future prospects, despite challenges in the LNG market due to geopolitical conflicts and global supply chain disruptions[65]. - The Group plans to source LNG supply from overseas markets to boost sales volume and increase revenue for shareholders[65]. - The central government of PRC has adopted measures to stimulate market vitality and overall market demands, which may benefit the Group's operations[66]. Compliance and Governance - The financial statements for the year ended March 31, 2022, have been delivered to the Registrar of Companies, and the company will deliver the financial statements for the year ended March 31, 2023, in due course[22]. - The independent auditor's reports for the financial statements of the years ended March 31, 2021, and 2022, were unqualified, indicating no significant issues were raised[23]. - The condensed consolidated financial statements are unaudited but have been reviewed by the audit committee and approved by the Board[27]. - The company does not anticipate that the application of new and amendments to HKFRSs will have any material impact on its consolidated financial statements in the foreseeable future[33]. - The condensed consolidated financial statements include applicable disclosures required by the GEM Listing Rules and the Companies Ordinance[29]. - The Group's first quarterly results for the three months ended June 30, 2022, have been reviewed by the Audit Committee, confirming compliance with applicable accounting standards and adequate disclosures[115]. - The Audit Committee consists of three independent non-executive Directors, ensuring effective oversight of financial controls and reporting processes[113]. - The Company has adopted a code of conduct regarding securities trading by Directors, compliant with GEM Listing Rules[106]. - The Remuneration Committee is responsible for recommending the Company's policy and structure for all Directors' and senior management remunerations[119]. - The Nomination Committee reviews the structure, size, and composition of the Board at least annually and makes recommendations on proposed changes[124]. Trading Status and Future Outlook - The Company has been suspended from trading since July 15, 2022, due to failure to maintain sufficient operations and assets as required under GEM Listing Rules[69]. - The Company must remedy the issues set by the Stock Exchange by July 14, 2023, or face potential cancellation of its listing[70]. - The Company will provide quarterly updates on its developments in accordance with GEM Listing Rules[70]. - The company is actively working to address the issues raised by the Stock Exchange to resume trading[70]. - During the three months ended June 30, 2022, there were no arrangements for directors to acquire benefits through the acquisition of shares or debentures of the company[104]. - There were no interests in businesses causing significant competition or conflict of interests with the Group's business from Directors or substantial Shareholders during the review period[109]. - There were no arrangements allowing Directors to gain benefits from purchasing the Company's securities during the three months ended June 30, 2022[107]. - As of the report date, the Executive Directors include Mr. Chen Haining and Ms. Tong Jiangxia, with three Independent Non-Executive Directors[126]. - There were no changes in the information of each Director that required disclosure under GEM Listing Rules during the review period[125].
华夏能源控股(08009) - 2023 Q1 - 季度财报