Financial Performance - Revenue for the nine months ended March 31, 2023, was HKD 86,689,000, a 1.7% increase from HKD 85,250,000 in the same period of 2022[5] - Gross profit for the same period was HKD 683,000, compared to HKD 339,000 in 2022, reflecting a significant improvement[5] - The company reported a loss before tax of HKD 12,971,000, an improvement from a loss of HKD 14,814,000 in the previous year, indicating a reduction in losses[5] - Basic and diluted loss per share for the nine months was HKD 1.63, compared to HKD 1.86 in the same period last year, showing a decrease in loss per share[5] - The total loss attributable to the company's owners for the period was approximately HKD 13,000,000, down from HKD 14,900,000 in the previous year, mainly due to lower employee costs[34] Expenses and Income - Administrative expenses decreased to HKD 14,442,000 from HKD 15,323,000, representing a reduction of approximately 5.7%[5] - Other income increased to HKD 809,000 from HKD 233,000, marking a significant growth of 247%[5] - Direct costs reduced from approximately HKD 84,900,000 to about HKD 83,900,000, representing a decrease of approximately 1.18% due to the decline in revenue[28] - Other income increased from approximately HKD 200,000 to about HKD 800,000, mainly due to one-time financial support from the Hong Kong government's anti-epidemic fund[30] - Administrative expenses decreased by approximately 5.9% from HKD 15,300,000 to about HKD 14,400,000, attributed to reduced employee costs and business entertainment[31] Equity and Shareholder Information - The total equity attributable to the owners of the company as of March 31, 2023, was HKD 104,676,000, down from HKD 117,648,000 at the beginning of the period[6] - As of March 31, 2023, Mr. Guo Dongqiang holds 250,000,000 shares, representing approximately 31.41% of the total issued share capital of the company[38] - Major shareholder Best Brain owns 250,000,000 shares, accounting for 31.41% of the total issued share capital[43] - The company purchased 4,060,000 shares of its own listed securities during the reporting period[46] - A total of 16,800,000 share options were granted under the share option scheme, equivalent to about 2.11% of the total issued share capital[52] - The board does not recommend the payment of dividends for the reporting period[50] - No other individuals or companies were reported to have significant interests in the company's shares as of March 31, 2023[43] Corporate Governance - The company has complied with the corporate governance code throughout the reporting period[48] - There were no reported conflicts of interest between the directors and the company's business[44] - The company has not sold or redeemed any of its listed securities during the reporting period[46] - The share options granted to directors and employees have not been exercised or cancelled during the reporting period[52] Audit and Compliance - The Audit Committee was established on March 9, 2016, to review and supervise the financial reporting process and internal control systems of the group[54] - The Audit Committee consists of three independent non-executive directors, with Ms. Huang Shufang serving as the chairperson[54] - The committee has reviewed the unaudited condensed consolidated financial statements and the effectiveness of the internal control systems for the relevant period[54] - The performance is deemed to comply with applicable accounting standards and GEM listing rules[54] - Sufficient disclosures have been made regarding the financial performance[54] Operational Strategies - The company continues to focus on property construction services in Hong Kong and trading of construction materials in China, indicating ongoing operational strategies[8] - The company submitted 26 construction project bids during the period and is currently operating six major projects while following up on seven nearly completed projects[35] - The company is exploring opportunities in modular integrated construction (MiC) for transitional housing projects in Hong Kong, which could generate additional revenue in the coming years[35] - The company has begun engaging in the trading of construction materials in China to integrate its construction business and explore market opportunities[35] - The company plans to diversify its business and seek profitable opportunities through acquisitions or strategic partnerships in various sectors to enhance long-term profitability[36] Compliance with Standards - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with applicable regulations[10]
宏强控股(08262) - 2023 Q3 - 季度财报