Financial Performance - For the three months ended June 30, 2023, the group recorded revenue of approximately HKD 13,926,000, a decrease of about 0.94% compared to approximately HKD 14,058,000 for the same period in 2022[3] - The gross profit margin for the three months ended June 30, 2023, was approximately 73.8%, down by about 9.9 percentage points from approximately 83.7% for the same period in 2022[3] - The group reported a loss attributable to owners of the company of approximately HKD 3,852,000 for the three months ended June 30, 2023, compared to a loss of approximately HKD 3,954,000 for the same period in 2022[3] - The total comprehensive loss for the period was approximately HKD 4,837,000, compared to HKD 5,157,000 for the same period in 2022[6] - The basic and diluted loss per share for the period was HKD 0.137, unchanged from HKD 0.140 for the same period in 2022[6] Dividends and Equity - The board of directors did not recommend the payment of dividends for the three months ended June 30, 2023, consistent with the previous year[3] - The company’s total equity attributable to owners decreased to approximately HKD 17,467,000 as of June 30, 2023, from HKD 24,612,000 as of June 30, 2022[8] Administrative Expenses - The group incurred administrative expenses of approximately HKD 11,321,000 for the three months ended June 30, 2023, down from HKD 13,215,000 in the same period of 2022[5] - Total other income for the three months ended June 30, 2023, was HKD 49,000, down from HKD 311,000 in the same period last year, primarily due to the absence of government subsidies and bond interest income[14] - Administrative expenses for the three months ended June 30, 2023, were approximately HKD 11,321,000, a decrease of about 14.33% from HKD 13,215,000 in the previous year[23] Business Strategy and Operations - Management aims to improve the performance of existing hospital operations, which will continue to be the main source of revenue for the group in the coming year[27] - The group plans to strategically allocate resources to develop disease prevention and management in response to the shift in China's healthcare policy towards prevention[27] - The group will invest in training medical personnel and upgrading existing medical equipment to enhance competitiveness and ensure quality and safety in healthcare services[27] - The group is exploring new business opportunities and partnerships within the healthcare sector to strengthen its capabilities and market position[27] Legal Matters and Financial Recoveries - The company is seeking the return of approximately RMB 12,130,000 (equivalent to about HKD 13,863,000) from the Shenzhen Intermediate People's Court following a civil judgment[33] - The company is also pursuing the return of an investment balance of approximately RMB 3,200,000 (equivalent to about HKD 3,625,000) from Edinburgh International Diabetes[33] - Edinburgh Hospital Management is required to return approximately RMB 4,900,000 to the company, which was previously advanced under a cooperation agreement[35] - The company is entitled to receive approximately RMB 1,400,000 as compensation for breach of contract and related costs from Edinburgh Hospital Management[35] Shareholding and Corporate Governance - As of June 30, 2023, Mr. Wu Zhihong holds a beneficial interest in 59,000,000 shares, representing approximately 2.09% of the issued shares[36] - Mr. Wu Zhihong also holds a beneficial interest in 1,581,959,460 shares of a controlled company, representing approximately 56.13%[36] - Major shareholder Xingyang holds 1,581,959,460 shares, representing approximately 56.13% of the issued shares[40] - New Hope International holds 343,217,539 shares, representing approximately 12.18% of the issued shares[40] - The company has not reported any significant events after the reporting period[34] - The company is currently seeking legal advice regarding the related litigation[33] Compliance and Governance - The company has complied with the corporate governance code as per GEM Listing Rules Appendix 15 during the three months ended June 30, 2023[50] - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ended June 30, 2023, and found them to be prepared in accordance with applicable accounting standards[56] - The company has established a remuneration committee to determine the specific remuneration packages of all executive directors[53] - The company has a nomination and corporate governance committee responsible for reviewing the board's structure and recommending suitable candidates for board membership[54] - The company has adopted a code of conduct for securities transactions by directors, confirming compliance during the three months ended June 30, 2023[49] - There were no arrangements made for directors or key executives to benefit from purchasing the company's or any other corporation's shares or debt securities during the reporting period[43] - The company has no provisions in its articles of association or Cayman Islands law regarding pre-emptive rights for existing shareholders to subscribe for new shares on a pro-rata basis[48] - As of June 30, 2023, directors or their associates did not own any business that competes directly or indirectly with the group[47]
金威医疗(08143) - 2024 Q1 - 季度财报