Financial Performance - The Group's revenue decreased from approximately HK$43.9 million for the three months ended June 30, 2022, to approximately HK$35.2 million, representing a decline of approximately 19.7%[9] - The Group's gross profit decreased by approximately 5.8% from approximately HK$15.0 million for the three months ended June 30, 2022, to approximately HK$14.1 million for the same period in 2023, while the gross profit margin increased from approximately 34.2% to approximately 40.1%[9] - Profit attributable to owners of the Company increased from approximately HK$5.6 million for the three months ended June 30, 2022, to approximately HK$5.8 million for the same period in 2023[9] - Operating profit for the three months ended June 30, 2023, was approximately HK$6.98 million, compared to approximately HK$7.36 million for the same period in 2022[13] - The profit before income tax for the period was approximately HK$6.83 million, slightly down from approximately HK$7.04 million in the previous year[13] - The total comprehensive income for the period attributable to owners of the Company was approximately HK$5.77 million, compared to approximately HK$5.62 million for the same period in 2022[15] - Basic and diluted earnings per share attributable to owners of the Company increased to 0.97 HK cents from 0.93 HK cents[15] - The profit for the period was HK$5,813,251, an increase from HK$5,608,975 in the previous year[17] - Total comprehensive income for the period was HK$5,769,089, compared to HK$5,616,888 in the same period last year[17] Revenue Breakdown - Revenue from flooring services was HK$31,331,202, down 19.4% from HK$38,847,394 in the previous year[31] - Revenue from ancillary services decreased to HK$3,686,751, a decline of 26.0% from HK$4,973,890 in the prior year[31] - Sales of materials dropped significantly to HK$201,852, compared to HK$46,900 in the same period last year[31] - For the three months ended June 30, 2023, the total revenue was HK$35,219,805, a decrease of 19.7% compared to HK$43,868,184 for the same period in 2022[31] Expenses and Costs - Other income and gains decreased significantly from approximately HK$299,301 in 2022 to approximately HK$21,138 in 2023[13] - The Group's general and administrative expenses increased from approximately HK$7.03 million in 2022 to approximately HK$7.54 million in 2023[13] - Cost of materials used decreased to HK$11,839,298 in 2023 from HK$15,579,703 in 2022, reflecting a reduction of approximately 24.5%[48] - Subcontractor costs decreased to HK$7,269,785 in 2023 from HK$11,442,622 in 2022, a decline of approximately 36.4%[48] - Employee benefit expenses increased to HK$6,450,241 in 2023 from HK$5,810,576 in 2022, an increase of approximately 11%[48] - General and administrative expenses increased by approximately HK$511,000 from approximately HK$7.0 million to approximately HK$7.5 million, primarily due to increased staff salaries[71] Dividends and Shareholder Information - The Board does not recommend the payment of dividends for the three months ended June 30, 2023, compared to no dividends in the same period of 2022[9] - The Group did not recommend the payment of dividends for the three months ended June 30, 2023, consistent with the previous year[41] - As of June 30, 2023, Mr. Kwong holds 392,886,000 shares, representing approximately 65.48% of the company's shareholding[98] - Mr. Yip holds 3,000 shares in Sage City, which accounts for 30% of the shareholding in that associated corporation[102] - Mr. Kwong beneficially owns 70% of the issued share capital of Sage City, which holds 65.48% of the company[98] - Mrs. Kwong is deemed to be interested in all shares held by Mr. Kwong for the purposes of the Securities and Futures Ordinance[106] Corporate Governance and Compliance - The company has complied with the principles and applicable code provisions of the Corporate Governance Code for the three months ended June 30, 2023[110] - The Company has complied with the corporate governance code principles and applicable provisions during the three months ended June 30, 2023[113] - The Company has adopted the GEM Listing Rules as the code of conduct for securities transactions by Directors, with all Directors confirming compliance during the reporting period[115] - The Company has established an Audit Committee to oversee financial control, internal control, and risk management systems[123] - The Audit Committee has reviewed the Group's unaudited condensed consolidated financial results for the three months ended June 30, 2023[124] Market Outlook and Business Development - The local property market is gradually recovering, but demand in the commercial and private residential markets remains weak, leading to an uncertain economic outlook[83] - The Group is actively seeking to develop business in other Asia-Pacific markets to diversify income sources and manage risks[86] Other Information - The company has not early adopted new and revised HKFRSs that have been issued but are not yet effective for the current accounting period[29] - The financial information has been prepared in accordance with Hong Kong Financial Reporting Standards and has not been audited[26] - The Group's business is regarded as a single operating segment by the executive Directors[31] - The Company and its subsidiaries did not purchase, sell, or redeem any shares for the three months ended June 30, 2023[116] - No share options have been granted since the adoption of the share option scheme, and there were no outstanding share options as of June 30, 2023[118] - The Company has not engaged in any competitive business activities that could conflict with its operations as of June 30, 2023[112] - The company did not report any new product developments or market expansions during the reporting period[105] - The company has not disclosed any new strategies or mergers and acquisitions in the first quarter of 2023/24[105] - There were no competing interests reported among the Directors or controlling shareholders during the three months ended June 30, 2023[109] - No significant post-reporting period events were disclosed by the Board[93] - The company did not identify any interests or short positions in shares or underlying shares that required disclosure under the Securities and Futures Ordinance as of June 30, 2023[103]
邝文记(08023) - 2024 Q1 - 季度财报