Financial Performance - For the three months ended September 30, 2022, the company reported revenue of HKD 634,565,000, an increase of 7.0% compared to HKD 592,846,000 for the same period in 2021[5] - For the nine months ended September 30, 2022, total revenue was HKD 1,761,765,000, a decrease of 12.2% from HKD 2,006,341,000 in the same period of 2021[5] - The company's operating profit for the three months ended September 30, 2022, was HKD 7,196,000, down 48.7% from HKD 14,027,000 in the same period of 2021[5] - The net loss for the three months ended September 30, 2022, was HKD 2,475,000, compared to a profit of HKD 4,672,000 in the same period of 2021[5] - The total comprehensive loss for the three months ended September 30, 2022, was HKD 45,019,000, compared to a comprehensive income of HKD 1,297,000 in the same period of 2021[7] - The company’s total comprehensive income for the nine months ended September 30, 2022, was a loss of HKD 51,807,000, compared to a gain of HKD 56,463,000 in the same period of 2021[7] - The group reported a basic loss attributable to owners of HKD 2,475,000 for the three months ended September 30, 2022, compared to a profit of HKD 4,672,000 in the same period of 2021[30] - Profit attributable to owners of the company for the nine months ended September 30, 2022, was HKD 23,905,000, a decrease from HKD 51,046,000 for the same period in 2021, primarily due to revenue and operating margin reductions caused by COVID-19 control measures in China[48] Revenue Breakdown - Revenue from automobile sales for the nine months ended September 30, 2022, decreased by 11.7% to HKD 1,302,485,000 from HKD 1,475,017,000 in the previous year[34] - Revenue from automobile services and sales of auto parts decreased by 13.3% to HKD 435,037,000 for the nine months ended September 30, 2022, compared to HKD 501,718,000 in the same period of 2021[35] - The automobile leasing business revenue for the nine months ended September 30, 2022, was HKD 16,820,000, a decrease of 22.2% compared to the previous year[38] Expenses and Costs - The company’s employee benefit expenses for the nine months ended September 30, 2022, were HKD 100,950,000, slightly up from HKD 99,127,000 in the same period of 2021[5] - Employee benefits expenses for the nine months ended September 30, 2022, were HKD 100,950,000, a slight increase of 1.8% compared to HKD 99,127,000 for the same period in 2021[42] - Depreciation and amortization expenses for the nine months ended September 30, 2022, were HKD 44,279,000, remaining stable compared to HKD 45,797,000 for the same period in 2021[43] - Other expenses for the nine months ended September 30, 2022, were HKD 48,227,000, a decrease of 13.1% from HKD 55,472,000 in the same period of 2021[45] - Financial costs slightly decreased from HKD 25,619,000 for the nine months ended September 30, 2021, to HKD 25,250,000 for the same period in 2022[47] Foreign Exchange Impact - The company experienced a foreign exchange loss of HKD 42,544,000 for the three months ended September 30, 2022, compared to a loss of HKD 3,375,000 in the same period of 2021[7] - The group recorded a foreign exchange loss of HKD 4,742,000 for the nine months ended September 30, 2022, compared to a loss of HKD 1,220,000 in the same period of 2021[44] Corporate Governance - The company has adopted a code of conduct for directors regarding securities transactions, ensuring compliance with GEM Listing Rules[66] - The board believes the company has adhered to the corporate governance code as per GEM Listing Rules Appendix 15 during the reporting period[67] - The audit committee, established on June 5, 2002, is responsible for reviewing the group's annual reports and financial statements, and has reviewed the Q3 2022 performance[69] - The board of directors includes four executive directors and three independent non-executive directors as of the report date[71] Future Outlook and Standards - The company adopted revised Hong Kong Financial Reporting Standards effective January 1, 2022, which did not have a significant impact on the financial performance and position for the current and prior periods[15] - The revised HKFRS 1 clarifies the classification of liabilities as current or non-current, effective from January 1, 2023, with no expected significant impact on the company's performance and financial position[19] - The company anticipates that the new and revised HKFRS will not have a significant impact on its financial performance and position[19] - The revised HKAS 12 clarifies that deferred tax assets and liabilities must be recognized upon initial recognition of certain transactions, effective from January 1, 2023, with no expected significant impact[22] - The company has not early adopted any new or revised HKFRS that have been issued but are not yet effective as of September 30, 2022[17] Shareholder Information - Major shareholders include Loh & Loh Construction Group Ltd. with 9.51% and Big Reap Investment Limited with 6.86% of the shares[55] - As of September 30, 2022, the guarantee provided to Zhongbao Group amounted to HKD 156,610 thousand, representing 9.0% of total assets[65] Dividend and Cost Control - The board did not recommend an interim dividend for the nine months ended September 30, 2022, consistent with the same period in 2021[49] - The company plans to continue prudent cost control measures to enhance productivity and provide quality services amid uncertainties due to the COVID-19 pandemic[50]
G.A.控股(08126) - 2022 Q3 - 季度财报