Financial Performance - For the nine months ended December 31, 2022, the group's revenue was approximately HKD 31.1 million, an increase of 11.7% compared to the same period last year[6]. - The group reported a loss of approximately HKD 1.90 million for the nine months ended December 31, 2022, compared to a loss of HKD 1.1 million in the previous year[6]. - The revenue for the third quarter ended December 31, 2022, was HKD 12.94 million, compared to HKD 11.31 million for the same quarter last year, reflecting an increase of 14.4%[8]. - The total comprehensive loss for the nine months ended December 31, 2022, was HKD 1.90 million, compared to a loss of HKD 1.15 million in the previous year[9]. - The basic loss per share for the nine months ended December 31, 2022, was HKD 0.32, compared to a loss of HKD 0.22 per share in the previous year[9]. - The group recorded total revenue of approximately HKD 31.1 million for the nine months ended December 31, 2022, an increase of about 11.7% compared to HKD 27.8 million for the same period in 2021[32]. - The group reported a profit attributable to owners of the company of HKD 1,676,000 for the three months ended December 31, 2022, compared to HKD 1,229,000 for the same period in 2021[24]. Revenue Breakdown - For the nine months ended December 31, 2022, the tutoring business revenue increased by 3.1% compared to the same period last year[27]. - The revenue from primary school tutoring services accounted for 25.0% of total tutoring revenue, while secondary school tutoring services contributed 75.0%[27]. - The franchise program generated approximately HKD 0.4 million in revenue for the nine months ended December 31, 2022, up from HKD 0.2 million in the previous year[28]. - The revenue from management services was HKD 2,241,000 for the nine months ended December 31, 2022, with no revenue reported in the previous year[17]. - The new management services business, acquired through a 55% stake in Golden Path Developments Limited, generated revenue of approximately HKD 2.2 million during the review period[32]. Expenses and Costs - Employee benefits expenses for the nine months ended December 31, 2022, increased to HKD 23.45 million from HKD 19.31 million in the previous year, representing a rise of 21.5%[8]. - Employee benefits expenses increased by 21.4% to approximately HKD 23.5 million for the nine months ended December 31, 2022, up from HKD 19.3 million for the same period in 2021[35]. - The group reported a financial cost of HKD 339, down from HKD 657 in the previous year, indicating a decrease of 48.7%[8]. - The depreciation expense for property, plant, and equipment increased slightly to approximately HKD 4.0 million for the nine months ended December 31, 2022, from HKD 3.8 million in the previous year[33]. Equity and Dividends - The group’s total equity attributable to owners as of December 31, 2022, was HKD 30.77 million, compared to HKD 28.18 million at the end of the previous year[11]. - The group did not recommend the payment of an interim dividend for the nine months ended December 31, 2022[6]. Government Support - The group received government anti-epidemic subsidies of approximately HKD 2.5 million for the nine months ended December 31, 2022[17]. Corporate Governance - The audit committee has been restructured to comply with GEM Listing Rules, now consisting of three independent non-executive directors[56]. - The company has reviewed its unaudited consolidated financial statements for the nine months ending December 31, 2022, confirming compliance with applicable accounting standards[56]. - The appointment of new independent non-executive directors has been completed, ensuring all committees meet the required member count[53]. - The company is focused on enhancing internal control procedures and financial reporting oversight through its audit committee[56]. Future Outlook - The management team is focused on expanding existing operations in Hong Kong and mainland China while seeking new business opportunities to enhance shareholder returns[31]. - The group aims to continue expanding its customer base and exploring more business opportunities through GPD[29]. Share Placement - The company completed a placement of up to 104,500,000 new shares at a price of HKD 0.044 per share on November 4, 2022[38]. - The net proceeds from the placement were allocated entirely to general working capital, amounting to HKD 4.5 million[40]. Customer Concentration - The group has no single external customer contributing 10% or more to total external revenue for the nine months ended December 31, 2022[21]. Contingent Liabilities - The group has no significant contingent liabilities as of December 31, 2022[37].
GOLDWAY EDU(08160) - 2023 Q3 - 季度财报