Financial Performance - The group's hotel operating revenue was approximately HKD 19.9 million, a decrease of about 40.9% compared to HKD 33.8 million in the same period last year[13]. - The loss attributable to the owners of the company was approximately HKD 31.6 million, compared to a loss of approximately HKD 28.3 million in the previous year[14]. - The basic loss per share was approximately HKD 0.907, compared to approximately HKD 0.810 in the previous year[15]. - Revenue for the nine months ended September 30, 2022, was HKD 19,944,224, a decrease of 41% compared to HKD 33,751,678 for the same period in 2021[17]. - Gross profit for the nine months ended September 30, 2022, was HKD 8,728,069, down from HKD 17,068,348 in the previous year, representing a decline of 49%[17]. - The company reported a loss before tax of HKD 31,704,507 for the nine months ended September 30, 2022, compared to a loss of HKD 27,231,332 in the same period of 2021, indicating a 16% increase in losses[17]. - Total comprehensive loss for the nine months ended September 30, 2022, was HKD 49,629,108, compared to a loss of HKD 36,818,497 in the previous year, reflecting a 35% increase in total losses[20]. - Basic and diluted loss per share for the nine months ended September 30, 2022, was HKD 0.907, compared to HKD 0.810 for the same period in 2021[20]. - The company reported a loss of HKD 31,646,004 attributable to owners for the nine months ended September 30, 2022, compared to a loss of HKD 28,285,122 in the previous year, representing an increase of 8%[20]. - Total revenue for the nine months ended September 30, 2022, was HKD 19,944,224, a decrease from HKD 33,751,678 in the same period of 2021, representing a decline of approximately 41%[34]. Operational Challenges - The company incurred a significant foreign exchange loss of HKD 22,607,712 for the nine months ended September 30, 2022, compared to a loss of HKD 9,953,005 in the previous year[17]. - Other income, gains, and losses for the nine months ended September 30, 2022, amounted to HKD 2,106,095, down from HKD 4,397,865 in the previous year, a decrease of 52%[17]. - The company incurred an operating loss of approximately HKD 11.6 million from the Singapore hotel during the review period, compared to an operating loss of approximately HKD 0.9 million in the previous year[57]. - The ongoing impact of COVID-19 continues to create uncertainty and challenges for the company's operations, particularly in the hotel sector[53]. - Total available room nights for the nine months ended September 30, 2022, remained at 74,802, with an occupancy rate dropping to 23% from 97% in 2021[63]. Revenue Breakdown - Hotel room revenue for the nine months was HKD 13,354,081, down from HKD 26,391,153 year-over-year, indicating a decrease of about 49%[34]. - The revenue from the Singapore market for the nine months was HKD 17,611,348, down from HKD 30,542,592 in the previous year, indicating a decrease of about 42%[38]. - The company generated HKD 1,988,567 in revenue from food and beverage services, down from HKD 6,709,885 year-over-year, a decline of approximately 70%[34]. - Food and beverage revenue was approximately HKD 2.0 million, accounting for about 10.0% of total hotel operating revenue, down from 19.9% in 2021[63]. - Rental income from hotel properties for the nine months was HKD 3,716,393, with no rental income reported in the same period of 2021[34]. - Rental income from hotel tenants in Singapore amounted to approximately HKD 3.7 million, representing 18.6% of total hotel business revenue, compared to zero in 2021[64]. Cost Management - Administrative expenses for the nine months ended September 30, 2022, were HKD 24,910,124, slightly down from HKD 25,758,506 in the previous year, indicating a reduction of 3%[17]. - Financial costs for the nine months ended September 30, 2022, were HKD 16,671,633, compared to HKD 17,454,632 in the previous year, showing a decrease of 4%[17]. - Employee costs for the nine months were HKD 9,264,846, down from HKD 14,814,569 in the previous year, reflecting a reduction of approximately 37%[39]. - The company incurred depreciation expenses of HKD 9,139,498 for property, plant, and equipment, compared to HKD 9,867,526 in the prior year, a decrease of about 7%[39]. Future Outlook and Strategies - The company is actively seeking alternative financing options to address liquidity pressures and improve cash flow, including discussions with contractors for extended payment terms[68]. - The group remains optimistic about future growth, focusing on the development of Bintan land and potential acquisitions in China as part of the Belt and Road Initiative[72]. - The company plans to explore potential buyers for its Japanese hot spring hotel to generate operating capital and enhance liquidity[68]. - The completion of the Bintan development project has been postponed to the end of 2023 due to COVID-19 related delays and financial resource constraints[65]. Shareholder Information - As of September 30, 2022, Mr. Yan Yi holds 1,900,000,000 shares in the company, representing 54.44% ownership[79]. - CMI Financial Holding Company Limited holds 690,000,000 shares, accounting for 19.77% of the company's total shares[85]. - The total number of issued shares of the company as of September 30, 2022, is 3,490,000,000[88]. - Mr. Wu Mingzhe holds convertible bonds with a principal amount of HKD 25,128,000, convertible into 698,000,000 shares, representing 20.00% of the total issued share capital[88]. - CMI Hong Kong has convertible bonds with a principal amount of HKD 25,278,000, which can convert into 76,600,000 shares, representing approximately 2.19% of the total issued share capital[88]. Corporate Governance - Vertic Holdings Limited, where Mr. Yan Yi has a controlling interest, is currently under liquidation as per a Hong Kong court order dated December 9, 2019[82]. - The ownership structure indicates that Mr. Yan Yi is considered to have interests in shares held by Vertic due to his position as a director[79]. - The company has not disclosed any new product developments or market expansion strategies in the provided documents[90]. - There are no updates on mergers or acquisitions mentioned in the financial reports[90].
华星控股(08237) - 2022 Q3 - 季度财报