Financial Performance - For the three months ended March 31, 2023, the group recorded total revenue of approximately HKD 28,200,000, an increase from HKD 19,478,000 in the same period of 2022, representing a growth of approximately 44.1%[5] - The group reported a loss attributable to owners of the company of approximately HKD 2,300,000, with a basic loss per share of HKD 1.24, compared to a loss of HKD 2,277,000 and a loss per share of HKD 1.23 in the previous year[6][9] - The gross profit for the period was HKD 1,191,000, slightly up from HKD 1,186,000 in the same period last year[9] - Operating loss for the period was HKD 2,515,000, compared to HKD 2,080,000 in the previous year, indicating a deterioration in operational performance[9] - The total comprehensive loss for the period, after tax, was HKD 2,262,000, compared to HKD 1,794,000 in the same period last year[10] - The company reported a loss attributable to owners of approximately HKD 2,347,000 for the three months ended March 31, 2023, compared to a loss of HKD 2,277,000 for the same period in 2022[23] Revenue Segments - Revenue from the LED and related products segment was approximately HKD 28,194,000, up from HKD 17,958,000 in the previous year[19] - The electronic optical products segment generated no revenue during the period, down from HKD 1,500,000 in the previous year[29] - The liquor trading segment also reported no revenue, compared to HKD 20,000 in the same period last year[30] - The sapphire crystal watch parts segment recorded no revenue, as competition from smartwatches has negatively impacted the traditional watch market[32] Dividends and Equity - The board of directors did not recommend the payment of a dividend for the period[7] - The company did not recommend any dividend payment for the three months ended March 31, 2023[20] - The total equity attributable to owners of the company as of March 31, 2023, was HKD 19,211,000, down from HKD 40,288,000 a year earlier[12] - Total equity decreased to approximately HKD 22,100,000 as of March 31, 2023, down from approximately HKD 24,300,000 on December 31, 2022, mainly due to operating losses[35] Costs and Expenses - The group incurred finance costs of HKD 189,000, which is a slight increase from HKD 179,000 in the previous year[9] - Administrative and other operating expenses increased from HKD 3,000,000 to HKD 3,600,000, primarily due to higher legal and professional fees[33] - The total employee cost, including directors' remuneration, was approximately HKD 2,300,000 for the period, compared to approximately HKD 1,700,000 in the comparative period[38] Future Outlook and Strategy - The company plans to continue implementing marketing and business development plans to enhance sales and resilience against market challenges[28] - The company anticipates an increase in LED product sales, which will be a key driver for recovery in 2023[47] - The company will continue to adopt a conservative approach to capacity planning and implement strict cost and risk management measures due to weak overall market conditions[47] - The company aims to diversify its business and expand revenue sources while ensuring efficient resource allocation for the best interests of the company and its shareholders[47] Shareholder Information - As of March 31, 2023, senior management holds 2,550,000 shares, representing approximately 1.35% of the issued shares[49] - Major shareholder Ling Jia Zhen holds 11,850,000 shares, accounting for approximately 6.28% of the issued shares as of March 31, 2023[53] Compliance and Governance - The company has adopted new or revised Hong Kong Financial Reporting Standards effective from January 1, 2023, with no significant impact on the financial statements[16] - There were no significant contingent liabilities as of March 31, 2023[25] - The company has no significant contingent liabilities as of March 31, 2023[41] - The audit committee, consisting of four independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the first quarter of 2023[61]
无缝绿色(08150) - 2023 Q1 - 季度财报