Financial Performance - For the three months ended June 30, 2023, the consolidated revenue of StarGlory Holdings was approximately HKD 31,100,000, a decrease of about 20.9% compared to approximately HKD 39,300,000 for the same period last year[3]. - The loss attributable to owners of the company increased from approximately HKD 500,000 in the same period last year to approximately HKD 6,000,000 for the three months ended June 30, 2023[3]. - The gross profit for the three months ended June 30, 2023, was HKD 15,557,000, down from HKD 23,070,000 in the previous year, reflecting a decline in profitability[5]. - The total comprehensive loss for the period was HKD 5,231,000, compared to a total comprehensive loss of HKD 465,000 in the previous year[7]. - The company's unaudited revenue for the three months ended June 30, 2023, was approximately HKD 31,100,000, a decrease of about 20.9% compared to HKD 39,300,000 in the same period last year[20]. - The loss attributable to the company's owners for the three months ended June 30, 2023, increased to approximately HKD 5,978,000 from HKD 531,000 in the same period last year[17]. - The basic and diluted loss per share for the three months ended June 30, 2023, was HKD 1.15, compared to HKD 0.1 for the same period last year[5]. Operating Expenses and Cost Management - Operating expenses for the period were HKD 21,432,000, compared to HKD 27,405,000 for the same period last year, indicating a reduction in operational costs[5]. - The group has implemented cost control measures, resulting in a reduction of total operating expenses by approximately 21.8% to about HKD 21,400,000[36]. Market and Economic Conditions - The overall restaurant confidence index in Hong Kong increased from 6.1 in Q4 2022 to 6.5 in Q1 2023, indicating improved industry sentiment[24]. - The Chinese oral care market is expected to exceed USD 7.4 billion in 2023, with existing brands dominating the market[24]. - The global economic growth is projected to slow from 3.1% in 2022 to 2.1% in 2023, influenced by rising interest rates and potential financial risks[21]. - The Hong Kong economy showed significant improvement in Q1 2023, with a seasonally adjusted GDP growth of 5.3% quarter-on-quarter[22]. - The group expects the Hong Kong economy to grow at a real GDP growth rate of 3.5% to 5.5% in 2023, supported by inbound tourism and local demand[29]. Strategic Focus and Future Plans - The group plans to focus on its core business in the Hong Kong dining sector, aiming to enhance sales through promotional and marketing activities[29]. - The group will temporarily suspend its oral care product sales channel starting April 2023 due to intense competition in the Chinese market[32]. - The group anticipates continued instability in the e-cigarette industry due to tightening regulations globally, and will adopt a cautious approach while seeking potential opportunities[28]. - The group aims to enhance customer loyalty and attract new customers through digitalization and exclusive offers on popular online food delivery platforms[30]. - The group will continue to explore potential market opportunities in the healthcare sector despite the underperformance of its oral care products[32]. Shareholding and Corporate Governance - As of June 30, 2023, Hanbo Holdings Limited holds 296,887,066 shares, representing approximately 57.01% of the issued share capital[40]. - Mr. Tang Shengming holds convertible bonds with an outstanding principal amount of HKD 40,000,000, which upon full conversion will result in the issuance of 71,428,571 shares, equating to about 13.72% of the issued share capital[42]. - The company has a total issued share capital of 520,771,875 shares as of June 30, 2023[42]. - The company has established an audit committee in compliance with GEM Listing Rules, which includes three independent non-executive directors as of June 30, 2023[53]. - The company confirmed that all directors complied with the trading standards regarding securities transactions during the three months ending June 30, 2023[55]. - The company has maintained high standards of corporate governance and has adhered to the corporate governance code as per GEM Listing Rules during the three months ending June 30, 2023[56]. - The chairman and executive directors of the company are Zhang Tao and Li Hongchen, with independent non-executive directors including Chen Yiping, Feng Xingwei, and Liao Sijie[56]. Dividends and Financial Support - The company did not recommend the payment of an interim dividend for the three months ended June 30, 2023, consistent with no dividend in the same period last year[19]. - The company has received continued financial support from its ultimate beneficial owner, Ms. Wong Li, and a loan memorandum was signed to extend the repayment date of a loan of approximately HKD 98,453,000 to June 22, 2024[14]. Changes in Management - The board of directors underwent changes, with Mr. Feng Xingwei appointed as an independent non-executive director on July 4, 2023[44]. - Mr. Li Hongchen was appointed as an executive director on July 28, 2023, following the resignation of Mr. Wu Xiaowen[47].
荣晖控股(08213) - 2024 Q1 - 季度财报