Financial Performance - The group recorded revenue from continuing operations of approximately HKD 5,910,000 for the three months ended June 30, 2023, representing an increase of about 219.1% compared to HKD 1,852,000 for the same period in 2022[6] - The loss for the period was approximately HKD 4,000, compared to a loss of HKD 1,406,000 for the same period in 2022[6] - The basic loss per share for the three months ended June 30, 2023, was HKD 0.0002, compared to HKD 0.0742 for the same period in 2022[12] - The gross profit for the three months ended June 30, 2023, was HKD 4,520,000, compared to HKD 282,000 for the same period in 2022[12] - The group recorded a pre-tax profit of HKD 518,000 for the three months ended June 30, 2023, compared to a pre-tax loss of HKD 1,011,000 for the same period in 2022[12] - The total comprehensive income for the period was a loss of HKD 13,171,000[16] - The group’s equity decreased to HKD 54,172,000 as of June 30, 2023, from HKD 52,843,000 as of April 1, 2023[16] - The group’s accumulated losses increased to HKD 1,420,019,000 as of June 30, 2023[16] Future Outlook - The group expects further growth in revenue as demand for courses recovers post-pandemic, with a focus on in-person classes due to their popularity among students and parents[8] - The group anticipates stable growth in performance as more training courses resume based on student enrollment demand[8] - The group plans to launch various robot-themed activities in Heilongjiang Province, aiming to promote smart education and enhance the development of robot education in China[9] - The group plans to actively participate in national robot education development strategies to cultivate talents in the robot industry[9] Financial Position - As of June 30, 2023, the group's net current liabilities amounted to HKD 55,558,000[19] - The group agreed to delay the repayment of HKD 95,100,000 owed to a major shareholder until August 15, 2024[22] - The group continues to rely on financial support from its major shareholder to meet operational funding needs[21] - The board believes that the going concern basis is appropriate for preparing the financial statements despite uncertainties[21] Tax and Other Financial Adjustments - The adoption of HKAS 12 (Revised) resulted in a deferred tax asset and liability adjustment, impacting the financial statements[23] - The income tax expense for the three months ended June 30, 2023, was HKD 605,000, while there was no tax provision for the same period in 2022[36] - The company’s deferred tax liabilities decreased to HKD 1,670,000 as of June 30, 2023, from HKD 1,781,000 as of March 31, 2023[26] Shareholder and Management Information - The company did not declare or recommend any dividends for the three months ended June 30, 2023, consistent with the same period in 2022[39] - The company is continuously seeking opportunities to enhance shareholder value[58] - The total compensation for directors and key management was HKD 832 thousand in 2023, compared to HKD 780 thousand in 2022, reflecting a 6.67% increase[48] - Total short-term benefits for directors and key management increased to HKD 819 thousand in 2023, up from HKD 767 thousand in 2022, a growth of 6.78%[48] Corporate Governance - The audit committee reviewed the unaudited first quarter results for the three months ended June 30, 2023, and confirmed compliance with applicable accounting standards and GEM listing rules[65] - The board of directors confirmed adherence to the corporate governance code principles and provisions during the three months ended June 30, 2023[66] - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with GEM listing rules[68] Other Financial Activities - The company recognized government subsidies of HKD 54,000 for the three months ended June 30, 2023, down from HKD 72,000 in the same period of 2022[30] - The interest income for the three months ended June 30, 2023, was HKD 0, compared to HKD 136,000 in the same period of 2022[34] - The company incurred financing costs of HKD 50,000 for the three months ended June 30, 2023, compared to HKD 485,000 in the same period of 2022[34] - The depreciation of property, plant, and equipment for the three months ended June 30, 2023, was HKD 3,000, down from HKD 13,000 in the same period of 2022[38] - The company provided service fee discounts totaling HKD 1,061 thousand during the three months ended June 30, 2023, compared to HKD 1,125 thousand in the same period of 2022[47] - The company did not buy or redeem any of its shares on the GEM during the three months ended June 30, 2023[63] - There were no significant acquisitions or disposals of subsidiaries during the period[57] - The company has not granted, exercised, canceled, or allowed any stock options to expire during the three months ended June 30, 2023[60] - The company is in preliminary discussions for a potential acquisition of equity in an education platform and software company, although no significant terms have been reached yet[57] - Shenzhou Communication holds a 28.59% stake in the company, with 542,042,000 shares[53] - Revenue from Shenzhou Communication's promotional and management services was HKD 0 thousand in 2023, down from HKD 19 thousand in 2022[47] - Interest income from interest-free loans from Shenzhou Communication Investment increased to HKD 1,100 thousand in 2023 from HKD 600 thousand in 2022, representing an 83.33% increase[47]
神通机器人教育(08206) - 2024 Q1 - 季度财报