Financial Performance - The group's revenue for the three months ended June 30, 2022, was approximately HKD 55.4 million, an increase of about 15.8% compared to HKD 47.9 million for the same period in 2021[6] - Total revenue for the three months ended June 30, 2022, was HKD 55,435,000, an increase of 15.4% compared to HKD 47,871,000 for the same period in 2021[26] - Revenue from renovation projects was HKD 21,082,000, a significant increase of 74% from HKD 12,128,000 in the previous year[26] - Revenue from renovation projects was approximately HKD 21.1 million, an increase of about 73.8% compared to approximately HKD 12.1 million in the previous period[38] - The group reported a pre-tax loss of HKD 2,636,000 for the three months ended June 30, 2022, compared to a loss of HKD 731,000 in the same period last year[33] - The loss and other comprehensive expenses for the period increased by 261.0% to approximately HKD 2.6 million, compared to HKD 0.7 million for the previous period[6] - The total comprehensive loss attributable to owners of the company was HKD 2.6 million for the period[8] Profitability and Expenses - The basic loss per share for the period was approximately HKD 0.82, compared to a loss of HKD 0.23 per share in the previous period[9] - The gross profit for the period was HKD 930,000, down from HKD 1.8 million in the same period last year[10] - Gross profit decreased from approximately HKD 1.8 million to approximately HKD 0.9 million, a decline of about 48.9% due to lower profit margins on several projects[40] - Administrative expenses for the period were HKD 3.97 million, an increase from HKD 3.34 million in the previous period[10] - Administrative expenses increased from approximately HKD 3.3 million to approximately HKD 4.0 million, reflecting an increase of about 18.8%[43] - The group’s financing costs increased to HKD 106,000 from HKD 22,000 in the previous period[10] - Financing costs surged from approximately HKD 22,000 to approximately HKD 106,000, an increase of about 381.8% due to increased bank borrowings[44] - Total labor costs increased to HKD 8,718,000 from HKD 7,977,000, reflecting a rise of 9.3% year-on-year[31] - The total labor cost for the period was approximately HKD 8.7 million, compared to approximately HKD 8.0 million in the previous period[52] Dividends and Shareholder Information - The group did not recommend the payment of an interim dividend for the period[6] - The group did not declare an interim dividend for the three months ended June 30, 2022, consistent with the previous year[32] - Major shareholders include Zheng Zengfu and Liao Lili, each holding 164,200,000 shares, representing 51.31% of the total issued share capital[57] - Chen Yi Sung holds 19,200,000 shares, accounting for 6.00% of the total issued shares[60] - Zheng Zengfu, Zheng Zengwei, and Liao Lili are considered concert parties, collectively owning 164,200,000 shares[58] - As of June 30, 2022, no other individuals were reported to hold 5% or more of the company's shares[61] Business Operations and Outlook - The company’s main subsidiary is engaged in providing renovation and refurbishment services to the private sector in Hong Kong[17] - The board believes that demand for high-end renovation and refurbishment services will remain strong, indicating a positive outlook for future business[35] - The group aims to explore opportunities in home repair and maintenance services, responding to significant market demand in Hong Kong[35] - The group has obtained an exclusive sales license for a nano photocatalytic anti-fouling material, which is expected to expand revenue sources in the construction materials market[36] - No contracts exceeding HKD 10 million were awarded during the period, contrasting with four contracts exceeding this amount in the previous period, which contributed approximately HKD 10.3 million in revenue[35] Financial Position - As of June 30, 2022, the group had cash and bank balances of approximately HKD 15.6 million, up from HKD 10.4 million as of March 31, 2022[47] - The current ratio decreased from approximately 2.3 times to approximately 1.9 times, while the capital debt ratio increased from approximately 14.1% to approximately 23.4%[47] Governance and Compliance - The financial statements were approved for publication by the board on August 1, 2022[18] - The company’s financial statements were reviewed by the audit committee and comply with applicable accounting standards[68] - The audit committee, established on January 19, 2018, oversees financial reporting and risk management[68] - The company has not disclosed any competitive interests that may conflict with its business operations[65] - There are no provisions for preemptive rights in the company's articles of association[66] - No purchases, redemptions, or sales of the company's listed securities occurred during the reporting period[64] - The company’s executive directors include Zheng Zengfu, Liao Lili, and Xu Qitai[69]
快意智能(08040) - 2023 Q1 - 季度财报