Financial Performance - For the nine months ended September 30, 2022, the revenue was HKD 216,771 thousand, an increase from HKD 204,150 thousand in the same period of 2021, representing a growth of approximately 6.4%[7] - The gross profit for the nine months ended September 30, 2022, was HKD 12,621 thousand, compared to HKD 7,937 thousand in the same period of 2021, indicating a significant increase of approximately 59.5%[7] - The loss attributable to owners of the company for the nine months ended September 30, 2022, was HKD 33,025 thousand, a decrease from a loss of HKD 36,428 thousand in the same period of 2021, showing an improvement of approximately 9.5%[7] - The basic loss per share for the nine months ended September 30, 2022, was HKD 5.73, compared to HKD 5.56 in the same period of 2021, reflecting a slight increase in loss per share[7] - The total comprehensive loss for the nine months ended September 30, 2022, was HKD 44,625 thousand, compared to HKD 40,290 thousand in the same period of 2021, indicating a deterioration of approximately 10.5%[8] - The company reported a loss from operations of HKD 10,117 thousand for the nine months ended September 30, 2022, compared to a loss of HKD 39,016 thousand in the same period of 2021, representing an improvement of approximately 74.0%[7] - The company experienced a foreign exchange loss of HKD 6,006 thousand for the nine months ended September 30, 2022, compared to a loss of HKD 10,907 thousand in the same period of 2021, indicating a reduction of approximately 45.0%[8] Revenue Breakdown - Revenue from supply chain management services for the three months ended September 30, 2022, was HKD 77,618,000, an increase of 80.4% compared to HKD 43,004,000 for the same period in 2021[22] - Revenue from mining logistics services for the nine months ended September 30, 2022, was HKD 7,718,000, up from HKD 5,673,000 in the same period of 2021, representing a growth of 36.0%[22] - The group reported total revenue of HKD 85,435,000 for the three months ended September 30, 2022, compared to HKD 49,578,000 for the same period in 2021, reflecting a year-on-year increase of 72.3%[22] - Revenue from external customers for the coal mining segment was HKD 211,783,000, while the consulting and media services segment generated HKD 4,868,000, and the corporate and investment segment contributed HKD 120,000, totaling HKD 216,771,000[27] Operational Challenges - The company continues to face challenges due to the ongoing impact of COVID-19 lockdowns, which have affected its operations and market conditions[4] - The coal mining operations in Xinjiang have been interrupted due to strict management measures since early August, with no clear timeline for resuming full operations[42] - The company faced multiple delays in the fire extinguishing project due to the pandemic, resulting in a total of 20 days of delays from the first impact and 55 days from the second impact[60][61] - Environmental complaints led to an additional 45 days of project delays, severely affecting the construction schedule[63] - The project was also impacted by geographical conditions, causing approximately 60 days of delays due to government-mandated work stoppages during nighttime[64] Future Outlook - The group anticipates sufficient operating funds for the foreseeable future due to the gradual recovery of normal business activities as the COVID-19 pandemic subsides[17] - The group is considering future fundraising activities in the public stock market to enhance liquidity[17] - The company expects to obtain mining permits by the end of the year, which could provide stable income in the future[42] - The group anticipates that the economic recovery in Hong Kong will largely depend on the reopening of borders with mainland China[41] - Management believes that the improvement in business operations post-COVID-19 will lead to positive cash flow generation in the future[100] Corporate Governance - The company maintains good corporate governance principles to enhance shareholder value and ensure transparency and independence[119] - The company has established various committees, including the Audit Committee, Compensation Committee, and Nomination and Corporate Governance Committee, primarily composed of independent non-executive directors[121] - The company has complied with the corporate governance code provisions during the nine months ending September 30, 2022[125] - The board has reviewed the effectiveness of the group's risk management and internal control systems as of September 30, 2022, and considers them effective and appropriate[126] Investment and Financial Position - The group held financial assets at fair value through profit or loss amounting to approximately HKD 13.7 million, with a fair value loss of approximately HKD 8.2 million for the nine months ended September 30, 2022[91] - The group recorded a profit of HKD 0.2 million from the sale of financial assets at fair value through profit or loss, down from HKD 3.5 million in the same period last year[91] - The group has investments in various companies, including Baidu Group and Tencent Holdings, with significant losses recorded due to stock price declines[92] - The overall market conditions have impacted the group's financial performance, particularly in the Hong Kong stock market, leading to strategic adjustments in investment approaches[91] Shareholder Information - As of September 30, 2022, the largest shareholder, Chen Libei, held 29.01% of the total issued shares, amounting to 167,263,298 shares[107] - Mr. Chen Li-ki holds a total of 167,263,298 shares, representing approximately 29.01% of the issued shares[113] - Mr. Zhang Hung-feng holds 81,950,000 shares, also representing approximately 14.21% of the issued shares[113] - The 2016 Share Award Plan has a total of 13,610,000 shares held under it, with no shares awarded to employees or directors as of September 30, 2022[116]
凯顺控股(08203) - 2022 Q3 - 季度财报