Financial Performance - For the three months ended June 30, 2023, the group's revenue was approximately HKD 8.9 million, a decrease of 11.9% compared to the same period last year[5]. - The group reported a loss of approximately HKD 3.0 million for the three months ended June 30, 2023[5]. - The basic and diluted loss per share for the period was HKD 0.26, compared to HKD 0.14 for the same period last year[8]. - The total comprehensive loss for the period amounted to HKD 2.97 million, compared to HKD 748,000 in the previous year[8]. - The company recorded a loss attributable to owners of approximately HKD 2.0 million for the three months ended June 30, 2023, compared to a loss of HKD 0.7 million in the same period of 2022[32]. Revenue Breakdown - For the three months ended June 30, 2023, the total revenue was approximately HKD 8.9 million, a decrease of about 11.9% compared to HKD 10.1 million for the same period in 2022[29]. - The tutoring service revenue decreased by 14.2% year-on-year, with 27.9% of the revenue coming from primary school tutoring and 72.1% from secondary school tutoring[25]. - Franchise income for the three months ended June 30, 2023, was approximately HKD 256,000, compared to HKD 81,000 in the same period of 2022[26]. Expenses - Employee benefit expenses increased to HKD 8.1 million from HKD 7.0 million in the previous year, reflecting a rise of 15.9%[7]. - Employee benefits expenses increased by 15.7% to approximately HKD 8.1 million for the three months ended June 30, 2023, due to increased staffing to support business growth[31]. - The group incurred depreciation expenses of HKD 1.27 million, down from HKD 1.83 million in the previous year, a decrease of 30.4%[7]. - Depreciation expenses decreased from approximately HKD 1.8 million for the three months ended June 30, 2022, to approximately HKD 1.3 million for the same period in 2023[30]. - The group’s financial costs were recorded at zero for the current period, compared to HKD 99,000 in the previous year[7]. Dividend and Share Information - The group did not recommend the payment of an interim dividend for the three months ended June 30, 2023[5]. - The company does not recommend the payment of an interim dividend for the three months ended June 30, 2023, consistent with the previous year[23]. - As of June 30, 2023, the total issued shares of the company are 756,629,630[35]. - Rainbow Kingdom Limited holds 129,629,630 shares, representing approximately 17.13% of the issued shares[36]. - Mr. Tao holds 21,562,000 shares in Greet Harmony Global Limited, accounting for approximately 2.85% of the issued shares[36]. Corporate Governance and Compliance - The company complied with all corporate governance codes as per GEM Listing Rules, with some deviations noted regarding committee composition[43]. - The audit committee reviewed the consolidated financial statements for the three months ending June 30, 2023, and found them to be prepared in accordance with applicable accounting standards[45]. - The company did not grant or agree to grant any share options during the reporting period[40]. - There were no purchases, sales, or redemptions of the company's listed securities during the reporting period[41]. - There were no significant contracts in which any director had a substantial interest during the three months ending June 30, 2023[38]. Management Changes - Mr. Tao resigned as an executive director on August 3, 2023, and was succeeded by Ms. Ye as of August 7, 2023[43]. - The company has appointed Mr. Liang as the compliance officer effective August 10, 2023, ensuring compliance with GEM Listing Rules[43]. Future Outlook - The management expects further improvement in the performance of primary and secondary tutoring services as the economy recovers and the pandemic eases[27]. - The company operates 10 tutoring centers as of June 30, 2023[25].
GOLDWAY EDU-NEW(08160) - 2024 Q1 - 季度财报