Financial Performance - For the three months ended June 30, 2023, the company reported revenue of HKD 5,686,000, a decrease of 53.5% compared to HKD 12,240,000 for the same period in 2022[11] - The cost of sales for the same period was HKD 3,008,000, resulting in a gross profit of HKD 2,678,000, down from HKD 4,164,000 in 2022[11] - The company incurred an operating loss of HKD 297,000 for the three months ended June 30, 2023, compared to an operating loss of HKD 2,811,000 in the previous year[11] - The total loss for the period was HKD 5,310,000, significantly reduced from HKD 11,011,000 in the same period of 2022[12] - Basic and diluted loss per share for the three months ended June 30, 2023, was HKD 0.11, an improvement from HKD 0.21 in 2022[11] - Other income and gains for the period amounted to HKD 1,951,000, a substantial increase from HKD 225,000 in the previous year[11] - The group reported a loss attributable to owners of approximately HKD 5.31 million for the period, an improvement from a loss of approximately HKD 11.01 million in the same period of 2022[26] Expenses and Costs - Administrative expenses decreased to HKD 4,926,000 from HKD 7,200,000, reflecting a reduction of 31.6%[11] - The group recorded a financial cost of approximately HKD 4.91 million, a decrease of about 39.29% compared to HKD 8.09 million for the three months ended June 30, 2022[26] - The cumulative income tax expense for the three months ended June 30, 2023, was approximately HKD 105,000, compared to HKD 115,000 in 2022[46] - The group’s administrative expenses and financial costs decreased overall due to the uncertain economic environment, despite a reduction in revenue from environmental consulting services[26] - Administrative expenses decreased by approximately 31.58% to about HKD 4.93 million from approximately HKD 7.20 million in the same period last year[51] - The group has implemented cost-saving measures due to the challenging business environment in China and the lack of investment from market participants[51] Market and Strategic Outlook - The group aims to introduce more attractive and advanced health products and nutritional supplements from overseas to the domestic market in China[20] - The group is reassessing its strategy for the health product sales division in light of the current market conditions[20] - The group anticipates a gradual recovery of the Chinese economy in the last quarter of 2023 and the first half of 2024, leading to increased demand for environmental consulting services[58] - The group aims to expand its health product market in response to rising consumer awareness and demand for healthy lifestyles, particularly among the younger generation[58] - The group will continue to focus on developing its core business and strategically expanding its operational scale while monitoring industry developments and government policies[58] Operational Challenges - The group’s operating environment faced challenges due to increased borrowing costs and inflation in overseas countries, impacting investment motivation[27] - The group believes the impact of the COVID-19 pandemic will be temporary and remains optimistic about the long-term development of the Chinese economy[27] - The group’s revenue from environmental consulting services was affected by a temporary decrease in investment motivation from project owners[26] Corporate Governance - The weighted average number of shares issued was 3,640,627,457 for both 2023 and 2022, indicating no change in share count[19] - The company has not made any provisions for Hong Kong profits tax due to tax losses being fully offset, consistent with the previous year[18] - The company did not declare any interim dividend for the three months ended June 30, 2023, compared to none in the same period of 2022[20] - The group has not redeemed any of its listed securities during the period[62] - The audit committee has reviewed the group's unaudited consolidated financial statements for the period[62] - The board of directors consists of one executive director, two non-executive directors, and three independent non-executive directors[63] - The report date is August 11, 2023[64]
大地国际集团(08130) - 2024 Q1 - 季度财报