Revenue Performance - The company recorded revenue of approximately HKD 10.5 million for the three months ended March 31, 2023, a decrease of about 8.7% compared to HKD 11.5 million in the same period of 2022[4]. - Total revenue decreased by approximately HKD 1.0 million or 8.7% to HKD 10.5 million for the three months ended March 31, 2023[18]. - For the three months ended March 31, 2023, total revenue was HKD 10,547,000, a decrease of 8.1% compared to HKD 11,472,000 for the same period in 2022[47]. - Revenue from online backup software and related services was HKD 9,077,000, down from HKD 10,290,000 in the previous year, representing a decline of 11.8%[47]. - Online backup software revenue decreased by approximately HKD 1.2 million or 11.7% to HKD 9.1 million for the three months ended March 31, 2023[18]. - Information platform revenue increased by approximately HKD 0.3 million or 25.0% to HKD 1.5 million for the three months ended March 31, 2023[18]. Profitability - The company achieved a profit of approximately HKD 1.1 million for the three months ended March 31, 2023, compared to a loss of approximately HKD 1.1 million in the same period of 2022, primarily due to cost control measures[4]. - The company reported a pre-tax profit of HKD 1,092,000, compared to a loss of HKD 1,154,000 in the previous year[34]. - The net profit for the period was HKD 1,109,000, reversing a loss of HKD 1,156,000 from the same quarter last year[34]. - The total comprehensive income for the period amounted to HKD 1,994,000, compared to a loss of HKD 1,237,000 in the prior year[34]. - Basic and diluted earnings per share for the period were HKD 0.06, compared to a loss per share of HKD 0.05 in the previous year[34]. - The profit attributable to equity holders of the parent company improved from a loss of HKD 1.051 million in Q1 2022 to a profit of HKD 1.135 million in Q1 2023[57]. Cost Management - Employee costs decreased by approximately HKD 1.4 million or 15.6% to about HKD 7.6 million for the three months ended March 31, 2023, due to team restructuring and cost control measures[9]. - The company has implemented cost-saving measures, including team restructuring and operational cost reduction, to enhance competitiveness[18]. - Total employee costs and related expenses decreased from HKD 9.030 million in Q1 2022 to HKD 7.648 million in Q1 2023, representing a reduction of approximately 15.3%[50]. - Research and development costs included in employee costs and related expenses fell from HKD 3.860 million in Q1 2022 to HKD 2.619 million in Q1 2023, a decrease of about 32.2%[50]. - Interest expenses on borrowings decreased significantly from HKD 113,000 in Q1 2022 to HKD 68,000 in Q1 2023, a reduction of about 39.8%[52]. Assets and Liabilities - The company's current assets were approximately HKD 61.7 million as of March 31, 2023, compared to HKD 64.9 million as of December 31, 2022[12]. - The company maintained a zero debt ratio as of March 31, 2023, compared to 3.4% as of December 31, 2022[15]. - The total liabilities of the company included a loan amount of HKD 1,000,000 related to the issuance of shares by a subsidiary[37]. - There were no significant capital commitments or contingent liabilities as of March 31, 2023[16]. Other Income - Other income increased from approximately HKD 0.1 million to about HKD 0.6 million for the three months ended March 31, 2023, mainly due to higher average interest rates on fixed deposits[6]. - The company reported net other income of approximately HKD 1.3 million for the three months ended March 31, 2023, an increase from about HKD 0.1 million in the same period of 2022, attributed to a one-time gain from a subsidiary[7]. - Other income for the three months ended March 31, 2023, was HKD 565,000, compared to HKD 59,000 in the same period last year, showing a significant increase[48]. - Net other income for the same period was HKD 1,325,000, compared to HKD 74,000 in the previous year, indicating a substantial rise[49]. - Bank interest income increased to HKD 492,000 from HKD 23,000 year-over-year, reflecting a growth of over 2000%[48]. - The company reported a total of HKD 1,375,000 from the termination of consolidation of a subsidiary, which was not present in the previous year[49]. Corporate Governance - The company has complied with the GEM Listing Rules and corporate governance codes during the reporting period[30]. - The audit committee has reviewed the financial information for the three months ended March 31, 2023, ensuring compliance with applicable accounting standards[33]. - The company operates under the GEM listing rules and adheres to Hong Kong Financial Reporting Standards[41]. - The company has not issued any share options under the share option scheme since its adoption in September 2015[31]. Subsidiary Information - The company lost control over its subsidiary Ahsay Korea Co., Ltd. in February 2023, resulting in the cessation of its consolidation in the financial statements[59]. - The net cash outflow from the termination of the subsidiary's consolidation was HKD 17,000[60]. - As of March 31, 2023, All Divine Investments Limited holds 1,500,000,000 shares, representing 75.0% of the issued shares[23]. - As of March 31, 2023, the company had issued 2,000,000,000 shares, with All Divine holding 75% of the shares[28]. Future Outlook - Management expresses confidence in future performance despite ongoing challenges in the economic environment[18]. - The company continues to focus on online backup software solutions, leveraging internet-based services for customer engagement[39]. - The KINBOY platform provides online horse racing information, with free members receiving basic updates and paid members accessing detailed data and analysis[21]. - The KINTIPS platform aims to facilitate information sharing between providers and users, with expected stable growth in the future[21]. - The new version of AhsayTM backup software, launched in January 2023, includes a deduplication feature to save storage space[20]. - The new version supports backup for Microsoft 365, including SharePoint Online, Outlook, OneDrive, and Microsoft Teams[20].
亚势备份(08290) - 2023 Q1 - 季度财报