Revenue Growth - The group reported a 100-fold increase in revenue from travel-related products and services, rising from approximately HKD 0.9 million in the three months ended June 30, 2022, to approximately HKD 87.3 million in the same period in 2023[10]. - For the three months ended June 30, 2023, the travel group revenue increased by 9,916.5% to approximately HKD 85.7 million, with gross profit rising by 7,116.6% to approximately HKD 15.1 million due to the resumption of outbound travel tours[14]. - Revenue for the three months ended June 30, 2023, was HKD 95,979,000, a significant increase from HKD 6,170,000 in the same period of 2022, representing a growth of approximately 1,454%[38]. - The total revenue for the continuing operations in the three months ended June 30, 2023, was HKD 95,979,000, a significant increase from HKD 6,364,000 in the same period of 2022[48]. - The revenue from travel-related products and services reached HKD 87,272,000, while the retail business generated HKD 6,972,000 and the dining business contributed HKD 1,735,000[48]. Profitability and Losses - The travel-related segment turned from a loss of approximately HKD 3.2 million in the three months ended June 30, 2022, to a profit of approximately HKD 5.8 million in the same period in 2023[10]. - The company reported a loss of approximately HKD 0.4 million for the three months ended June 30, 2023, an 88.0% reduction compared to the same period last year[23]. - The company reported a profit attributable to owners of HKD 1,798,000 for the three months ended June 30, 2023, compared to a loss of HKD 3,935,000 in the same period of 2022[62]. - The company reported a loss from continuing operations of HKD 352,000, a substantial reduction from a loss of HKD 2,574,000 in the prior year[38]. - The total comprehensive loss for the period was HKD 432,000, a notable improvement from HKD 3,607,000 in the previous year[39]. Business Segments Performance - The retail business segment generated revenue of approximately HKD 7.0 million for the three months ended June 30, 2023, but incurred a loss of approximately HKD 2.3 million due to low gross margins and high initial operating costs[11]. - The new restaurant business segment recorded revenue of approximately HKD 1.7 million for the three months ended June 30, 2023, with a loss of approximately HKD 2.6 million attributed to depreciation and employee costs during the trial operation phase[11]. - Retail business revenue for the three months ended June 30, 2023, was HKD 7.0 million, with a gross loss of HKD 0.7 million, compared to HKD 5.3 million and a gross profit of HKD 2.0 million in the same period last year[17]. Share Placement and Financial Position - The company completed a placement of 112,500,000 new ordinary shares at a price of HKD 0.160 per share, raising approximately HKD 17.6 million net of expenses[12]. - The placement price represented a premium of approximately 14.3% over the closing price of HKD 0.140 per share on May 10, 2023[12]. - The company issued new shares raising HKD 18,000,000 during the period, increasing total equity to HKD 65,294,000[39]. Operational Developments - The company is focused on expanding its business in travel-related products, retail, and food and beverage sectors[11]. - The company plans to diversify its travel group products by offering new destinations and itineraries, including Africa and Antarctica, and expanding into over 20 European countries[23]. - A new concept store exceeding 4,000 square feet opened in June 2023, featuring private VIP suites, a boutique, and a café, aimed at enhancing customer experience[23]. Expenses and Costs - Administrative expenses increased by 102.8% to approximately HKD 8.8 million, primarily due to increased employee costs and operational expenses[23]. - Sales expenses increased by 1,845.3% to approximately HKD 8.3 million, driven by higher advertising costs and increased employee costs in the travel and retail sectors[21]. - The group incurred a total of HKD 96,198,000 in expenses for the continuing operations, a substantial rise from HKD 8,704,000 in the same quarter of 2022[52]. Corporate Governance and Compliance - The company has complied with all provisions of the corporate governance code, except for a deviation regarding the separation of roles between the chairman and CEO, which is currently held by the same individual[34]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited financial results for the first quarter ending June 30, 2023[36]. Market and Economic Conditions - The recovery of the travel industry is supported by the easing of COVID-19 restrictions, leading to improved consumer sentiment[10]. - The sales of free travel products resumed globally, covering destinations such as Japan, the USA, Canada, the UK, Greece, and Asian countries, following the easing of border restrictions[15]. Miscellaneous - The company did not recommend any dividend for the three months ended June 30, 2023, consistent with the same period in 2022[64]. - The company recognized a rent concession of HKD 353,000 due to COVID-19, which was included in other income and gains/losses[67]. - There were no significant events after the reporting period that would have a major impact on the company's operational and financial performance[71].
飞道旅游科技(08069) - 2024 Q1 - 季度财报