Financial Performance - For the three months ended March 31, 2022, the group recorded total revenue of approximately HKD 19,500,000, a decrease from HKD 28,609,000 in the same period last year, representing a decline of approximately 31.9%[5][9] - The group reported a loss attributable to owners of the company of approximately HKD 2,300,000, equating to a basic loss per share of HKD 1.23, compared to a loss of HKD 2,881,000 and a loss per share of HKD 1.83 in the previous year[6][9] - The gross profit for the period was HKD 1,186,000, down from HKD 1,954,000 year-on-year, indicating a decrease of approximately 39.3%[9] - Operating loss for the period was HKD 2,080,000, compared to an operating loss of HKD 1,855,000 in the previous year, reflecting an increase in operating losses[9] - The total comprehensive loss for the period was HKD 1,794,000, a reduction from HKD 3,458,000 in the same period last year, indicating an improvement of approximately 48.1%[11] - The financial costs decreased significantly to HKD 179,000 from HKD 1,227,000, showing a reduction of approximately 85.3%[9] - Revenue for the three months ended March 31, 2022, was HKD 19,478,000, a decrease of 31.9% from HKD 28,609,000 for the same period in 2021[20] - Sales of LED and related products decreased to HKD 17,958,000 from HKD 28,111,000, representing a decline of 36.2%[20] - Sales of electronic optical products increased to HKD 1,500,000 from HKD 497,000, showing a growth of 201.6%[20] - The basic loss per share for the three months ended March 31, 2022, was HKD (1.23), an improvement from HKD (1.83) in the same period of 2021[26] Equity and Share Information - The total equity attributable to owners of the company as of March 31, 2022, was HKD 30,166,000, down from HKD 33,165,000 a year earlier[13] - The total issued and paid-up shares as of March 31, 2022, was 188,702,000 shares, following a share consolidation and capital reduction[29] - As of March 31, 2022, major shareholders include Ling Jia Zhen with 11,850,000 shares (6.28%), Wu Yue Sheng with 16,450,345 shares (8.72%), and Yang Li with 15,780,500 shares (8.36%) of the issued shares[57] Dividend and Taxation - The board of directors did not recommend the payment of any dividend for the period[7] - The company did not recommend any dividend for the three months ended March 31, 2022, consistent with the same period in 2021[23] - The income tax expense for the three months ended March 31, 2022, was HKD 1,000, compared to HKD 52,000 for the same period in 2021, reflecting a significant decrease[21] Operational Insights - The company did not disclose any new product developments, market expansions, or mergers and acquisitions during this reporting period[9] - Administrative and other operating expenses remained stable at HKD 3 million, compared to HKD 3.1 million in the comparative period[37] - The group had a total employee cost of approximately HKD 1,700,000 during the period, compared to HKD 2,100,000 in the previous period, indicating a decrease of about 19%[44] - The group’s employee count increased to 76 as of March 31, 2022, up from 74 as of December 31, 2021, reflecting a slight growth in workforce[44] Financial Position and Risk Management - As of March 31, 2022, the group's total equity increased to approximately HKD 43.9 million, up from HKD 30.2 million as of December 31, 2021[41] - The group's debt-to-equity ratio was 30.3% as of March 31, 2022, down from 49.2% as of December 31, 2021[40] - The net current assets as of March 31, 2022, were approximately HKD 25.4 million, compared to HKD 10.2 million as of December 31, 2021[41] - Cash and cash equivalents as of March 31, 2022, were approximately HKD 2.7 million, down from HKD 4.8 million as of December 31, 2021[41] - As of March 31, 2022, the group had no significant contingent liabilities, indicating a stable financial position[47] - The group has not made any significant investments, acquisitions, or disposals of subsidiaries during the period, reflecting a cautious approach to capital allocation[48] - The group is actively seeking additional financing options, including issuing new shares and obtaining new bank loans, to strengthen its financial position and fund new projects[43] - The group is facing significant uncertainties due to the ongoing COVID-19 pandemic, which has led to conservative procurement plans and strict collection processes from suppliers[53] - The group plans to adopt a conservative capacity planning approach and implement strict cost and risk management measures in response to the weak overall market conditions[53] - As of March 31, 2022, the group had no pledged assets, indicating a low level of financial risk associated with asset encumbrance[46] - The group has not utilized any currency hedging instruments during the period, but management will monitor foreign exchange risks as needed[45] Corporate Governance - The audit committee, consisting of four independent non-executive directors, reviewed the unaudited consolidated financial statements for the period and confirmed compliance with applicable accounting principles and GEM listing rules[66] - The company has adopted a securities trading code for directors, ensuring compliance with trading standards as per GEM listing rules[61] - The company has adhered to all provisions of the corporate governance code, except for the separation of roles between the chairman and CEO, which is held by the same individual since 2014[63] - No directors or major shareholders have any business interests that may compete with the company's operations during the reporting period[64] - The company has not engaged in any arrangements that would allow directors or their immediate family members to benefit from purchasing shares or bonds of the company[56] - There were no disclosures of interests or short positions in shares or related securities by any individuals required to do so under the Securities and Futures Ordinance as of March 31, 2022[59] - The company has not purchased or sold any related shares during the reporting period[60] - The company is committed to effective and efficient long-term business strategy formulation and execution by having the same individual serve as both chairman and CEO[63]
无缝绿色(08150) - 2022 Q1 - 季度财报