Financial Performance - Revenue for the three months ended June 30, 2023, was HK$219,841,000, a decrease of 47.8% compared to HK$420,274,000 for the same period in 2022[14]. - Gross profit for the period was HK$46,133,000, down 34.5% from HK$70,473,000 in the previous year[14]. - Operating loss increased to HK$34,072,000, compared to an operating loss of HK$25,795,000 in the same period last year, reflecting a 32.5% increase in losses[14]. - Loss for the period was HK$26,103,000, slightly higher than the loss of HK$24,591,000 recorded in the previous year, representing an increase of 6.1%[14]. - Basic and diluted loss per share remained stable at HK$5.7 cents, compared to HK$5.8 cents in the same period last year[14]. - Other comprehensive loss for the period was HK$24,148,000, compared to HK$16,597,000 in the previous year, indicating a 45.5% increase in comprehensive losses[16]. - Total comprehensive loss for the period amounted to HK$50,251,000, up from HK$41,188,000 in the previous year, reflecting a 22.1% increase[16]. - Revenue for the three months ended June 30, 2023, was HK$219,841,000, a decrease of 47.8% compared to HK$420,274,000 for the same period in 2022[29]. - Revenue from contracts with customers was HK$214,229,000, down 47.9% from HK$410,817,000 in the previous year[32]. - Sales of goods accounted for HK$199,103,000, a decline of 49.1% from HK$391,110,000 in the prior year[29]. - The basic loss attributable to shareholders for the three months ended June 30, 2023, was HK$26,103,000, compared to HK$24,591,000 in 2022[41]. - No interim dividend was recommended for the three months ended June 30, 2023, consistent with the previous year[43]. Business Operations - The company continues to engage in high-tech distribution, leasing, electronic payment solutions, and property investment as its core business activities[21]. - Revenue from the hi-tech distribution and services division decreased by 50.1% compared to the same period last year, primarily due to sluggish demand in the global mobile phone market[62]. - The leasing division experienced a revenue decline of 29.8% compared to the previous year, mainly due to a significant decrease in operating lease income[62]. - The Group's customers, mainly mobile phone manufacturers in China, have reduced their acquisition plans due to the ongoing market conditions[62]. - The leasing division generated unaudited revenue of approximately HK$28,419,000, a decrease of 29.8% compared to approximately HK$40,476,000 in the same period last year[79]. - The leasing division recorded a net loss of approximately HK$15,034,000, an increase of 73.8% from approximately HK$8,650,000 in the corresponding period last year[76]. - The electronic payment solution division, Jarvix, achieved unaudited revenue of approximately HK$1,897,000 and an unaudited net profit of approximately HK$32,000 during the quarter[93][96]. Market Conditions - Global smartphone shipments declined by 8% year-on-year and 5% quarter-on-quarter from April to June 2023, marking the eighth consecutive quarter of decline[62]. - A 15% year-on-year decline in global PC shipments was reported during the same period[62]. - The smartphone market is projected to decline by 1.1% in 2023, with worldwide shipments expected to decrease to 1.19 billion units[102][106]. - The management noted a significant reduction in orders received, particularly from mobile phone manufacturers in China, which may lead to a decline in recognized revenue in upcoming quarters[103]. - The Chinese government announced 31 preferential policies to support the revitalization of the private economy, potentially aiding recovery in the leasing market from the second half of 2023[100][105]. Financial Management - The company is exempt from taxation in Bermuda until 2035, with Hong Kong profits tax calculated at a rate of 16.5%[36]. - Subsidiaries in Mainland China are subject to a corporate income tax rate of 25%[37]. - The weighted average number of ordinary shares in issue during the period was 454,509,311, up from 425,125,311 in the previous year[41]. - The company recorded a deferred tax credit of HK$6,028,000 for the period, compared to HK$3,119,000 in the previous year[39]. - The total operating expenses for the quarter amounted to approximately HK$82,188,000, a decrease of 15.5% from approximately HK$97,298,000 in the corresponding period last year[63]. - The total operating expenses to revenue ratio increased to 34.9% from approximately 18.9% in the corresponding period last year[63]. Shareholder Information - As of June 30, 2023, Zhang Yifan holds approximately 24.54% of the shares and underlying shares of the Company[121]. - The total number of ordinary shares in issue as of June 30, 2023, is 454,509,311[121]. - Lu Ying holds 39.54% of the shares, while Sincere Ardent Limited, controlled by her, holds 39.38%[127]. - Sun Ciying owns 8.77% of the shares, and Sky Virtue Holdings Limited, controlled by Zhang Yifan, holds 22.28%[127]. - The share option scheme adopted on September 4, 2014, allows the Board to grant options to employees and other contributors for ten years[129]. - As of June 30, 2023, there were 13,888,685 outstanding share options under the 2014 Scheme[134]. - A total of 9,860,000 share options were granted to four directors and employees on July 6, 2023, with an exercise price of HK$0.339 per share[138]. Corporate Governance - The report was approved by the board of directors on August 9, 2023, and is presented in Hong Kong dollars (HK$)[19]. - The company operates under the GEM Listing Rules, which require compliance with specific disclosure requirements[22]. - The audit committee, comprising three independent non-executive directors, oversees the adequacy and effectiveness of the Group's accounting and financial controls[148]. - The company maintains high standards of corporate governance and complies with the Corporate Governance Code, with no known deviations during the reporting period[142]. - The roles of chairman and chief executive are separated, ensuring a balance of authority within the board[143].
北亚策略(08080) - 2024 Q1 - 季度财报