Financial Performance - The Company reported a loss attributable to owners of approximately HK$13,592,000 for the three months ended 31 March 2022, compared to a loss of approximately HK$1,024,000 in the same period last year, representing an increase in loss of approximately 1,228%[9]. - Revenue from continuing operations was approximately HK$21,914,000 for the Period, a decrease of approximately HK$10,048,000 or 31.4% compared to HK$31,962,000 in the same period last year[9]. - Gross profit from continuing operations for the Period was approximately HK$15,217,000, down from approximately HK$21,160,000 in the same period last year, indicating a decline of approximately 28.1%[9]. - Loss before tax for the Period was HK$14,506,000, compared to a loss of HK$1,159,000 in the same period last year[29]. - Loss for the period from continuing operations was HK$14,515,000, compared to HK$1,211,000 in the same period last year[29]. - Total comprehensive expense for the period was HK$13,580,000, compared to HK$700,000 in the same period last year[29]. - Total comprehensive income for the period attributable to owners of the Company was a loss of HK$13,785,000, reflecting a significant decline from a loss of HK$700,000 in the prior year[31]. - Loss per share for the period was HK$2.22, compared to a loss of HK$0.41 per share in the previous year[31]. - The company reported a loss from continuing operations of HK$14,720,000 for the three months ended March 31, 2022, compared to HK$1,188,000 in 2021[106]. - The company recorded a net loss attributable to owners of approximately HK$13,592,000 for the three months ended 31 March 2022, compared to a net loss of HK$1,024,000 for the same period in 2021, indicating a significant deterioration in performance[128]. Revenue Breakdown - Revenue from the food and beverage business decreased to HK$16,032,000, down 40.3% from HK$26,817,000 in the previous year[47]. - Revenue from alcoholic beverage distribution and miscellaneous business increased to HK$170,000, compared to HK$14,000 in the same period last year[47]. - The company reported total revenue of HK$21,914,000 for the three months ended March 31, 2022, a decrease of 31.5% from HK$31,962,000 in the same period of 2021[49]. - Revenue from continuing operations decreased by approximately 31.4% to approximately HK$21,914,000 for the period, down from HK$31,962,000 in the previous year[129]. - Revenue from the food and beverage business was approximately HK$16,032,000, down from HK$26,817,000 in the previous year, reflecting a substantial decrease[129]. - Revenue from the distribution of alcoholic beverages and miscellaneous business was approximately HK$170,000, significantly up from HK$14,000 in the previous year[135]. Expenses and Costs - General and administrative expenses increased to HK$26,734,000 from HK$24,055,000, reflecting an increase of approximately 11.2%[23]. - The group incurred a current tax expense of HK$9,000 for the three months ended March 31, 2022, down from HK$52,000 in the same period of 2021, a decrease of 82.7%[79]. - The finance costs for the group decreased to HK$950,000 in 2022 from HK$1,149,000 in 2021, representing a reduction of 17.3%[64]. - The group recognized a reversal of impairment loss of HK$15,000 on loan and interest receivables, which was not present in the previous year[57]. - The company incurred general and administrative expenses of HK$178,000 for the discontinued operations, a decrease from HK$2,774,000 in the previous year[91]. Operational Challenges - The Company continues to face challenges in its operations, as indicated by the significant losses and decrease in revenue[9]. - The COVID-19 pandemic has created significant challenges for the food and beverage and money lending businesses, impacting revenue and operational stability[141][150]. - The management acknowledges significant challenges in the near term due to global economic conditions, including tightening liquidity and inflation[177]. - The company faced challenges in education services, including student retention amid unstable schooling and potential declines in student population due to emigration[183][185]. Strategic Developments - The group completed the disposal of its food and beverage business in Singapore on January 14, 2022, for a total consideration of approximately HK$29,000[81]. - The group has ceased to hold any equity interest in Amber Glory International Limited following the completion of the disposal[84]. - The Group plans to cease operations in Singapore to focus resources on its food and beverage business in Hong Kong[176]. - The Group plans to optimize its curriculum and allocate more resources to enhance the quality of teaching in response to the needs of students and parents[158]. - The company is upgrading its securities service mobile application to include new features such as remote account opening and E-IPO application to enhance user experience[182][185]. - The company is optimizing its store network and re-examining geographical advantages to adapt to changes in the local business environment[181][185]. Miscellaneous - The financial statements for the period are unaudited but have been reviewed by the Audit Committee, ensuring a level of oversight[38]. - The Group is assessing the impact of new Hong Kong Financial Reporting Standards on its financial position, indicating a proactive approach to regulatory compliance[42]. - Interest income from securities clients rose to HK$2,352,000, up 82.7% from HK$1,288,000 in the previous year[49]. - The group reported a total income of HK$2,060,000 for the three months ended March 31, 2022, a decrease of 40.2% compared to HK$3,446,000 in the same period of 2021[57]. - Government grants received amounted to HK$1,489,000, down from HK$2,687,000 in the previous year, indicating a decline of 44.7%[57]. - The weighted average number of ordinary shares for the period was 612,118,000, significantly higher than 248,484,000 in the previous year due to a rights issue[102].
国农金融投资(08120) - 2022 Q1 - 季度财报