Financial Performance - For the three months ended July 31, 2023, the group's revenue was approximately HKD 24.5 million, a significant decrease of about HKD 22.2 million or 47.5% compared to approximately HKD 46.7 million in the same period of 2022[6]. - The gross profit for the same period was approximately HKD 3.6 million, down about 60.0% from approximately HKD 9.0 million in the prior year[6]. - The profit for the three months ended July 31, 2023, was approximately HKD 0.6 million, a decrease of about HKD 5.5 million or 90.2% compared to HKD 6.1 million in the same period of 2022, primarily due to reduced sales of LED decorative lights to Canadian customers[6]. - The total comprehensive loss for the period was HKD 0.946 million, compared to a total comprehensive income of HKD 4.764 million in the same period of 2022[7]. - Basic and diluted earnings per share for the period were HKD 0.13, down from HKD 1.22 in the prior year[7]. - The group reported a net loss of HKD 1.588 million from foreign exchange differences related to overseas operations for the three months ended July 31, 2023[7]. - Revenue for the three months ended July 31, 2023, was approximately HKD 24.5 million, a decrease of approximately HKD 22.2 million or 47.5% compared to HKD 46.7 million for the same period in 2022[28]. - Revenue from LED decorative lights was approximately HKD 24.5 million for the three months ended July 31, 2023, down from HKD 46.7 million in the same period of 2022, primarily due to reduced sales to customers in Canada and the United States[31]. - The company reported no revenue from LED lighting products for the three months ended July 31, 2023, consistent with the same period in 2022[32]. Expenses and Costs - The cost of sales for the three months ended July 31, 2023, was HKD 20.886 million, compared to HKD 37.694 million in the same period of 2022[20]. - The total tax expense for the three months ended July 31, 2023, was HKD 200, significantly lower than HKD 1.289 million for the same period in 2022[22]. - Sales and distribution expenses for the three months ended July 31, 2023, were approximately HKD 0.4 million, a decrease of about HKD 0.1 million or 20.0% compared to the same period in 2022 (approximately HKD 0.5 million)[36]. - Administrative expenses for the three months ended July 31, 2023, were approximately HKD 2.2 million, a decrease of about HKD 1.1 million or 33.3% compared to the same period in 2022 (approximately HKD 3.3 million)[38]. - The group's financial costs for the three months ended July 31, 2023, were approximately HKD 0.3 million, an increase of about HKD 0.1 million or 33.3% compared to the same period in 2022 (approximately HKD 0.2 million)[39]. Equity and Dividends - The total equity attributable to the owners of the company as of July 31, 2023, was HKD 94.474 million, down from HKD 174.978 million as of July 31, 2022[8]. - The board has resolved not to declare an interim dividend for the three months ended July 31, 2023, consistent with the previous year[6]. - The company did not declare or propose any dividends for the three months ended July 31, 2023, consistent with the same period in 2022[21]. Market Outlook - The company expressed cautious optimism regarding the market outlook for 2023, anticipating potential government stimulus measures in China to support economic recovery[29]. Shareholding and Governance - As of July 31, 2023, Mr. Shao Guoliang holds 234,000,000 shares, representing approximately 46.8% of the company's equity[43]. - Real Charm Corp, a beneficial owner, also holds 234,000,000 shares, representing approximately 46.8% of the company's equity[46]. - The company did not purchase, sell, or redeem any of its listed securities during the three months ended July 31, 2023[49]. - The company has adopted a stock option plan effective from November 16, 2017, which is valid for 10 years unless canceled or amended[53]. - No stock options have been granted under the stock option plan since its adoption[54]. - The audit committee consists of three independent non-executive directors, responsible for reviewing financial information, risk management, and internal control systems[55]. - The audit committee has reviewed the unaudited condensed consolidated financial statements for the three months ended July 31, 2023[56]. - The report will be available on the Hong Kong Stock Exchange website for at least seven days from the publication date[58].
濠亮环球(08118) - 2024 Q1 - 季度财报