Financial Performance - The revenue for the three months ended November 30, 2022, was approximately HKD 35,652,000, a decrease of 3.67% from HKD 37,010,000 in the same period last year[7] - The gross profit for the same period was approximately HKD 10,128,000, an increase of 9.00% compared to HKD 9,309,000 in the previous year[7] - The profit for the period was approximately HKD 2,777,000, representing a 46.49% increase from HKD 1,895,000 in the prior year[8] - The operating profit for the three months was HKD 3,023,000, up from HKD 2,224,000, marking a 36.00% increase year-over-year[11] - Basic and diluted earnings per share for the period were HKD 0.17, compared to HKD 0.12 in the same period last year, reflecting a 41.67% increase[11] - The total comprehensive income attributable to owners of the company for the period was HKD 1,499,000, down from HKD 1,895,000 in the previous year[11] - The company recorded a reversal of impairment losses on trade receivables and contract assets amounting to HKD 56,000, compared to a loss of HKD 59,000 in the previous year[11] - The total employee costs for the period were HKD 20,228,000, slightly down from HKD 20,932,000 in the previous year, indicating a reduction of 3.4%[30] - The effective tax expense for the three months ended November 30, 2022, was HKD 199,000, down from HKD 260,000 in the same period of 2021, a decrease of 23.5%[27] Revenue Breakdown - Installation service revenue increased to HKD 16,093,000 from HKD 14,672,000, representing a growth of 9.1% year-on-year[21] - Maintenance service revenue decreased to HKD 18,385,000 from HKD 20,376,000, a decline of 9.8% year-on-year[21] - Security service revenue decreased to HKD 1,174,000 from HKD 1,962,000, a drop of 40.1% year-on-year[21] - Other income increased significantly to HKD 813,000 from HKD 66,000, indicating a substantial growth in additional revenue streams[11] - Other income for the three months ended November 30, 2022, was HKD 813,000, significantly up from HKD 66,000 in the same period of 2021, primarily due to government subsidies[25] Dividend and Capital Commitments - The company did not recommend the payment of an interim dividend for the period[9] - The company did not declare an interim dividend for the three months ended November 30, 2022, compared to no dividend declared in the same period of 2021[32] - Capital commitments for the purchase of new software amounted to approximately HKD 117,000 as of November 30, 2022, unchanged from August 31, 2022[34] Shareholder Information - As of November 30, 2022, the company’s directors and senior management held approximately 55% of the issued shares, totaling 880 million shares[65] - ECI Asia holds 880,000,000 shares, representing 55% of the total shares issued as of November 30, 2022[69] - Mr. Yang holds 320,000,000 shares, accounting for 20% of the total shares issued as of November 30, 2022[69] - The total number of shares issued as of November 30, 2022, is 1,600,000,000[69] - The total number of shares that may be issued upon exercise of all options granted under the share option scheme is capped at 10% of the total number of shares in issue at the time of listing, which is 160 million shares[63] Corporate Governance - The audit committee consists of three independent non-executive directors, with Mr. Xu Junhao as the chairman[81] - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ended November 30, 2022, prior to board approval on January 11, 2023[83] - The company has adopted the corporate governance code as per GEM listing rules, with a noted deviation regarding the separation of the roles of chairman and CEO[76] - The board of ECI Technology Holdings Limited consists of six members, including three executive directors and three independent non-executive directors[84] - The chairman and CEO of the company is Dr. Ng Tai Wing[84] - The company has confirmed compliance with trading rules and guidelines by all directors and relevant employees during the reporting period[77] Strategic Initiatives - The company has secured a major contract from the Electrical and Mechanical Services Department for maintenance and improvement of the satellite television shared antenna system, which commenced in December 2022[38] - The company is focusing on bidding for ELV maintenance service contracts to strengthen customer relationships and increase market share[44] - The security guard business is recovering, with ongoing projects at Wah Ting Court and Wah Ting Pavilion, and more security projects expected in 2023[44] - The company is collaborating with strategic partners to develop advanced parking systems, integrating the latest technologies and payment methods[42] - The investment in a cornerstone agreement with Data Science Group Holdings Limited aims to enhance trade relations and improve profitability through access to new products and technologies[41] - ECI Technology Holdings Limited aims to expand its market presence and explore potential mergers and acquisitions[84] - The company is committed to innovation in new products and technologies to drive future growth[84] - The board emphasizes the importance of accurate financial reporting and transparency in operations[84] - ECI Technology Holdings Limited is actively monitoring market trends to inform its strategic decisions[84] - The company plans to provide updated performance guidance in future communications[84] - The management team is dedicated to sharing insights and collaborating effectively within the organization[84] - ECI Technology Holdings Limited is focused on achieving sustainable growth through its strategic initiatives[84] Miscellaneous - The company has not granted or agreed to grant any share options under its share option scheme as of November 30, 2022[63] - The company has not disclosed any other share options, warrants, or convertible securities as of the report date[67] - The company has not repurchased or sold any of its listed securities during the three months ended November 30, 2022, and up to the report date[79] - As of November 30, 2022, the company had no significant contingent liabilities[56] - The company operates primarily in Hong Kong, with all related transactions denominated in Hong Kong dollars, resulting in minimal foreign exchange risk[57] - The net proceeds from the company's listing on March 10, 2017, amounted to approximately HKD 31.5 million after deducting all related listing expenses and commissions[59] - As of November 30, 2022, the company had approximately HKD 3.5 million of unutilized listing proceeds remaining[60] - The company plans to utilize the unutilized proceeds for obtaining additional licenses and qualifications by 2025 due to delays in meeting operational capital requirements[60] - The company has allocated HKD 11.5 million of the listing proceeds for expanding its existing security guard operations[59]
ECI TECH(08013) - 2023 Q1 - 季度财报