Financial Performance - The company reported revenue of HKD 29,250,000 for the three months ended March 31, 2022, representing a 60% increase from HKD 18,306,000 in the same period of 2021[4] - The profit before tax for the period was HKD 5,513,000, compared to a loss of HKD 682,000 in the previous year[4] - The net profit for the first quarter of 2022 was HKD 4,942,000, a significant turnaround from a loss of HKD 753,000 in Q1 2021[4] - Earnings per share for the period were HKD 0.62, compared to a loss per share of HKD 0.09 in the same quarter last year[4] - Total comprehensive income for the period was HKD 4,985,000, compared to a comprehensive loss of HKD 790,000 in the same quarter of 2021[4] - The company's revenue increased from approximately HKD 18,306,000 in the three months ended March 31, 2021, to approximately HKD 29,250,000 in the same period of 2022, representing a growth of about HKD 10,944,000 or 59.8%[23] - The net profit for the three months ended March 31, 2022, was approximately HKD 4,942,000, compared to a net loss of approximately HKD 753,000 for the same period in 2021[23] - Recruitment service revenue rose by approximately HKD 11,995,000 or 100.5% to HKD 23,935,000 in Q1 2022, driven by the recovery of the Hong Kong recruitment market and expansion in mainland China[34] - The company recorded a net profit of approximately HKD 4,985,000 in Q1 2022, an increase of approximately HKD 5,775,000 from a net loss of HKD 790,000 in Q1 2021, mainly due to increased revenue from mainland China and Hong Kong recruitment services[42] Revenue Breakdown - Revenue from recruitment services in Hong Kong increased to HKD 16,469,000, up from HKD 9,863,000 year-over-year, marking a 67% growth[14] - Revenue from recruitment services in China rose to HKD 7,466,000, a substantial increase from HKD 2,077,000, reflecting a 259% growth[14] - Revenue from Hong Kong accounted for approximately 72.6% of total revenue in Q1 2022, down from 84.6% in the previous year[35] - The financial services and information technology sectors contributed approximately 21.7% and 11.7% respectively to the recruitment service revenue in Hong Kong[24] - Revenue from recruitment services in Hong Kong increased from approximately HKD 9,863,000 in the three months ended March 31, 2021, to approximately HKD 16,469,000 in the same period of 2022, marking a rise of about HKD 6,606,000 or 67.0%[27] - Revenue from the mainland China business surged from approximately HKD 2,077,000 in the three months ended March 31, 2021, to approximately HKD 7,466,000 in the same period of 2022, a significant increase of about HKD 5,389,000 or 259.5%[28] Operational Focus - The company continues to focus on expanding its recruitment services in Hong Kong, Macau, and mainland China, aiming to capture a larger market share[8] - The company aims to expand its operations in the Greater Bay Area, focusing on technology, consumer, and real estate sectors in Shenzhen and Guangzhou[29] - The company has established offices in Hong Kong, Shenzhen, and Guangzhou, with plans to further grow and expand its team[20] - The company plans to focus on industries with recovery potential, such as e-commerce, logistics, education, and real estate in 2022[33] - The company aims to maintain a strong cash flow and manage liquidity prudently while enhancing its internal marketing teams in Hong Kong and mainland China[33] - The company will continue to explore potential investment opportunities that provide good returns or synergies with its core business[33] Shareholding and Governance - As of March 31, 2022, the company’s directors and senior management collectively hold 600,000,000 shares, representing approximately 75% of the issued share capital[45] - KJE Limited and Caiden Holdings Limited each hold 600,000,000 shares, also accounting for approximately 75% of the issued share capital[49] - The shareholding structure indicates that KJE Limited is owned equally by the three directors, each holding about 33.33%[47] - The board consists of three executive directors and three independent non-executive directors[64] - The company has complied with the corporate governance code as per GEM Listing Rules during the reporting period[57] - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ended March 31, 2022, and provided recommendations[62] Dividend and Taxation - The company does not recommend the payment of an interim dividend for the three months ended March 31, 2022[18] - The company has not recommended any interim dividend for Q1 2022, consistent with the previous year[43] - The effective tax rate for Hong Kong profits tax is 16.5%, with a two-tiered system for qualifying group entities[5] - The company has not made any provisions for Macau supplementary tax as its subsidiary did not exceed the taxable profit threshold[17] Other Information - The company incurred financing costs of HKD 72,000, up from HKD 20,000 in the previous year, indicating increased financial obligations[15] - Employee costs for Q1 2022 were approximately HKD 17,843,000, representing 61.0% of revenue, a decrease from 82.4% in Q1 2021[37] - No stock options have been granted, exercised, canceled, or lapsed since the adoption of the stock option plan on September 13, 2018, with no unexercised options as of March 31, 2022[52] - The company did not purchase, sell, or redeem any of its listed securities during the three months ended March 31, 2022[55] - There were no arrangements made for directors to acquire shares or bonds of the company or its subsidiaries during the reporting period[54] - The company confirmed that all directors adhered to the trading standards and guidelines during the three months ended March 31, 2022[59] - No interests were held by directors or major shareholders in any competing businesses during the reporting period[56] - The first quarter earnings report for 2022 was released[65]
高奥士国际(08042) - 2022 Q1 - 季度财报