Financial Performance - For the nine months ended April 30, 2022, the group's revenue was approximately HKD 101,000,000, a decrease of about HKD 26,000,000 or approximately 20.5% compared to the same period in 2021[4] - The profit attributable to owners of the company for the same period was approximately HKD 13,200,000, an increase of about HKD 4,200,000 or approximately 46.7%, primarily due to increased revenue from subleasing and merchandise trading[4] - The gross profit for the nine months was HKD 44,253,000, compared to HKD 37,631,000 for the same period last year, reflecting a positive trend in profitability[6] - The company reported a net profit of HKD 13,239,000 for the nine months, up from HKD 9,022,000 in the previous year[6] - The basic and diluted earnings per share for the nine months were HKD 3.22, compared to HKD 2.20 in the previous year[6] - Total comprehensive income for the period, after tax, was HKD 9,084,000, down from HKD 16,540,000 in the previous year[6] - The company experienced a foreign exchange loss of HKD 4,155,000 due to the translation of foreign operations[6] Revenue Breakdown - Total revenue for the nine months ended April 30, 2022, was HKD 101,013,000, a decrease of 20.5% compared to HKD 127,060,000 for the same period in 2021[16] - Rental income from property leasing was HKD 46,434,000, down from HKD 50,316,000, representing a decline of 7.4%[16] - Financing income from finance lease receivables increased to HKD 8,016,000 from HKD 5,886,000, marking a growth of 36.2%[16] - The net income from sub-leasing rights assets rose significantly to HKD 19,985,000 from HKD 5,559,000, an increase of 259.5%[16] - Other income totaled HKD 1,204,000, a decrease of 64.9% compared to HKD 3,428,000 in the previous year[24] - The property leasing and management services segment generated approximately HKD 83,900,000 in revenue, an increase of about 18.9% compared to HKD 70,500,000 in the same period last year[49] - The interior design and decoration engineering segment reported revenue of approximately HKD 11,000,000, a decrease of about 77.5% from HKD 48,700,000 in the same period last year[52] - The contracting business segment's revenue was approximately HKD 700,000, down about 90.3% from HKD 7,200,000 in the same period last year[53] - The commodity trading segment achieved revenue of approximately HKD 5,500,000, an increase of about 746% from HKD 600,000 in the same period last year[55] Expenses and Costs - The company’s administrative and operating expenses for the nine months were HKD 14,221,000, slightly higher than HKD 14,050,000 in the previous year[6] - Financing costs for the nine months were HKD 11,145,000, down from HKD 12,526,000, reflecting a reduction of 11.0%[25] - The pre-tax profit before income tax was impacted by subcontracting costs of HKD 9,192,000, significantly lower than HKD 42,662,000 in the previous year[27] - Depreciation of investment properties was HKD 28,569,000, down from HKD 34,257,000, indicating a decrease of 16.5%[27] - Employee benefits expenses, including director remuneration, totaled HKD 7,401,000, slightly up from HKD 7,120,000, an increase of 3.9%[27] Dividends and Taxation - The board of directors did not recommend the payment of dividends for the relevant period[4] - The total tax expense for the period was HKD 6,471, an increase from HKD 4,712 in the previous year, reflecting a rise of about 37.3%[33] - The group’s deferred tax for the period was HKD 1,836, compared to a deferred tax asset of HKD (1,147) in the previous year[33] - The group has not made any provisions for Hong Kong profits tax during the period due to carried forward tax losses from previous years[7] - The corporate income tax rate applicable in China remains at 25% for the period[7] Business Strategy and Future Outlook - The company plans to continue focusing on its subleasing and merchandise trading business to drive future growth[6] - The group’s property leasing and management services are expected to continue growing due to increasing demand from startups and SMEs[40] - The group operates a co-working space center targeting entrepreneurs and startups, providing flexible office solutions[45] Financial Position and Management - As of April 30, 2022, the group's cash and cash equivalents were approximately HKD 31,600,000, down from HKD 112,800,000 as of July 31, 2021[66] - The current ratio as of April 30, 2022, was approximately 1.9, compared to 1.6 as of July 31, 2021[67] - The capital-to-debt ratio as of April 30, 2022, was zero, down from 13.4% as of July 31, 2021[68] - The group maintained a prudent financial management approach, ensuring a stable liquidity position during the relevant period[70] - The board closely monitors the liquidity position to ensure that the asset and liability structure meets funding needs[70] Corporate Governance - The board of directors has confirmed compliance with the securities trading code during the relevant period and up to the report date[90] - The audit committee, established on November 19, 2014, consists of three independent non-executive directors and is responsible for reviewing financial reporting procedures and risk management[94] - The company does not currently have a CEO, with the chairman, Mr. Lin Ye, overseeing overall management and business strategy[89] Shareholder Information - Major shareholders included Sonic Solutions Limited with 86,534,000 shares (21.04%) and other significant shareholders holding between 7.30% and 14.59%[84] - The group did not purchase, sell, or redeem any of its listed securities during the relevant period[88] Other Information - There were no significant acquisitions, disposals, or cancellations of subsidiaries or associated companies during the relevant period[76] - The group did not incur any significant contingent liabilities as of April 30, 2022[77] - There were no major investment or capital asset plans other than potential investments related to new leases under HKFRS 16[78] - As of April 30, 2022, the group had no significant investments in other companies outside its subsidiaries[75] - The board believes there is no need to hedge foreign exchange risks, as there were no significant adverse impacts from currency fluctuations[72] - There have been no significant events requiring disclosure from April 30, 2022, to the report date[96]
全民国际(08170) - 2022 Q3 - 季度财报