Revenue Performance - During the Reporting Period, the Group's revenue was approximately HK$21,804,000, representing an increase of approximately 5.2% from approximately HK$20,724,000 in the corresponding period last year[22]. - Revenue from the retail chain business in lighting and designer label furniture was approximately HK$21,795,000, reflecting an increase of approximately 6.2% from approximately HK$20,517,000 in the same period last year[23]. - Revenue from the tableware, giftware, and other business was approximately HK$9,000, representing a significant decrease of approximately 95.7% from approximately HK$207,000 in the corresponding period last year[24]. - Revenue for the three months ended June 30, 2022, was HK$21,804,000, representing an increase of 5.2% from HK$20,724,000 in the same period of 2021[78]. - Revenue from retail chain operations in lighting and designer furniture was approximately HK$21,795,000, an increase of about 6.2% from approximately HK$20,517,000 in the previous year[28]. - Revenue from the operation of tableware gifts and other businesses decreased significantly by approximately 95.7% to about HK$9,000 from approximately HK$207,000 in the previous year[29]. Profitability - Gross profit was approximately HK$11,950,000, representing a 5.6% increase from approximately HK$11,321,000 compared to the same period last year, with a stable gross profit margin of approximately 54.8%[30]. - The Group recorded a profit of approximately HK$2,190,000 for the three months ended June 30, 2022, compared to HK$1,329,000 for the same period in 2021[34]. - Profit before tax increased to HK$2,414,000, compared to HK$1,512,000 in the previous year, reflecting a growth of 59.7%[78]. - Profit attributable to the owners of the Company for the period was HK$2,190,000, a significant increase of 64.8% from HK$1,329,000 in 2021[78]. - Basic and diluted earnings per share rose to 0.49 HK cents, compared to 0.29 HK cents in the same period last year, marking an increase of 68.9%[78]. - The Group's overall gross profit margin remained stable at approximately 54.8%, indicating consistent profitability despite fluctuations in revenue[30]. Expenses and Costs - Selling and distribution expenses increased by approximately 8.8% to approximately HK$7,019,000 from approximately HK$6,454,000, primarily due to higher staff costs and depreciation on right-of-use assets[26]. - Administrative and other expenses rose by approximately 2.2% to approximately HK$3,243,000 from approximately HK$3,172,000, mainly due to increased staff costs[33]. - Employee costs for the three months ended June 30, 2022, were HK$4,416,000, slightly up from HK$4,352,000 in 2021, reflecting a 1.5% increase[106]. - Auditor's remuneration decreased to HK$170,000 in the three months ended June 30, 2022, from HK$175,000 in the same period of 2021, indicating a reduction of approximately 2.9%[104]. - The costs of inventories recognized as expenses were HK$8,286,000 for the three months ended June 30, 2022, compared to HK$8,172,000 in 2021, showing a slight increase of 1.4%[104]. Market Outlook and Strategy - The Directors expect the Hong Kong retail market to remain challenging in the near term, influenced by local epidemic developments, but foresee recovery as social distancing rules are relaxed[16]. - The Government's Electronic Consumption Voucher Scheme is anticipated to stimulate local consumption in the second half of the year[16]. - The Group plans to focus on consolidating its retail network, optimizing product mix, and intensifying cost control to stabilize growth[17]. - The Group is actively developing smart home and related products, seeking new opportunities in these areas[17]. - Housing demand is expected to create new opportunities for the Group's various lines of business[18]. - The Group aims to maintain a streamlined operation while being responsive to market changes and consumer needs[18]. - The Group is cautiously optimistic about future development, leveraging capital market support and global trends towards energy saving and environmental protection[18]. Shareholder Information - As of June 30, 2022, Mr. Hui Kwok Keung Raymond held a controlling interest in the company with approximately 46.56% of the total issued shares[54]. - As of June 30, 2022, Time Prestige Ventures Limited holds 210,000,000 shares, representing approximately 46.56% of the total issued shares of the Company[59]. - Ms. Ng Hiu Ying, as the spouse of Mr. Hue Kwok Chiu, has an interest in 45,000,000 shares, accounting for about 9.98% of the total issued shares[59]. - The Company has a Share Option Scheme with a total of 40,000,000 shares available for issue, which is approximately 8.87% of the total number of issued shares[64]. - No share options have been granted under the Share Option Scheme since its adoption on September 11, 2014[64]. - The purpose of the Share Option Scheme is to attract and retain the best available personnel and provide additional incentives to various stakeholders[62]. - The weighted average number of shares for calculating basic and diluted earnings per share remained unchanged at 451,036 shares for both periods[114]. Compliance and Governance - The Audit Committee reviewed the unaudited consolidated results for the three months ended June 30, 2022, confirming compliance with applicable accounting standards and legal requirements[70]. - The Company has maintained a sufficient public float as of the date of the report[73]. - The Audit Committee consists of three independent non-executive Directors, chaired by Mr. Leung Wai Chuen[69]. - The Company did not have a compliance adviser after the engagement of Ample Capital Limited ended on June 30, 2017[65]. - As of June 30, 2022, no other persons or corporations (excluding Directors and Chief Executives) had recorded interests or short positions in the shares of the Company[60]. - The Company has adopted new and revised HKFRSs relevant to its operations, with no significant effects on the results for the current and prior periods[90].
壹照明(08222) - 2023 Q1 - 季度财报