Financial Performance - For the three months ended June 30, 2023, the group's revenue was approximately HKD 3,292,000, a decrease of about 18% compared to HKD 4,019,000 for the same period in 2022[8] - The profit attributable to the owners of the company for the same period was approximately HKD 506,000, down from HKD 622,000 in the previous year[8] - The gross profit for the quarter was HKD 2,055,000, slightly up from HKD 2,047,000 in the previous year[14] - The total comprehensive income for the quarter was HKD 506,000, compared to HKD 508,000 in the previous year[16] - The basic and diluted earnings per share for the quarter were HKD 0.05, down from HKD 0.07 in the same period last year[14] - Service revenue was HKD 955,000, down 13.4% from HKD 1,103,000 in the previous year[20] - Maintenance service revenue decreased to HKD 2,333,000, a decline of 15.8% from HKD 2,769,000 in 2022[20] - Basic earnings per share for the three months ended June 30, 2023, was HKD 0.01, down from HKD 0.01 in the same period last year, with a profit attributable to owners of approximately HKD 506,000[25] Administrative and Financial Management - Administrative expenses decreased to HKD 1,826,000 from HKD 2,094,000 year-on-year, reflecting cost control measures[14] - The company did not recommend the payment of an interim dividend for the quarter ended June 30, 2023, consistent with the previous year[8] - The board of directors did not recommend the payment of an interim dividend for the three months ended June 30, 2023, consistent with no dividend declared for the same period in 2022[24] - The company has no tax provision for Hong Kong profits tax for the current period, as there were no taxable profits or sufficient past tax losses to offset estimated taxable profits[23] - There were no share buybacks during the period, maintaining a consistent approach with zero shares repurchased in the same period last year[34] Corporate Governance - The company remains committed to maintaining statutory and regulatory standards, emphasizing transparency and accountability in corporate governance[38] - The average number of ordinary shares in issue during the period was 925,508,000, unchanged from the previous year[26] - The company has no new share option schemes implemented since the expiration of the previous scheme on August 7, 2021[33] - The company has adopted a code of conduct for securities trading by directors, which complies with GEM Listing Rules from June 30, 2023[41] - The board believes there is currently no urgent need to separate the roles of Chairman and CEO, as the current structure is deemed effective[39] - The company has not made any insurance arrangements for potential legal risks faced by directors, considering the likelihood of such risks to be very low[39] - The board will regularly review the effectiveness of the corporate governance structure and the necessity of insurance arrangements for directors[39] - All directors have complied with the established code of conduct and required standards for the period ending June 30, 2023[41] - The board consists of three executive directors and three independent non-executive directors as of August 4, 2023[42] Strategic Focus and Initiatives - The company maintains a cautious outlook due to the economic conditions in Hong Kong and plans to continue implementing stringent financial measures[12] - The company is focused on developing innovative technology products and solutions, particularly in smart city applications[10] - The company has welcomed three interns and one assistant engineer trainee as part of its community investment and talent development initiatives[12] - The company will continue to monitor and assess internal control systems to mitigate potential legal risks[39]
ITE HOLDINGS(08092) - 2024 Q1 - 季度财报