Financial Performance - The company's revenue for the three months ended March 31, 2022, was HKD 37,257,000, representing an increase of 21.9% compared to HKD 30,807,000 in the same period last year[7] - The cost of sales for the same period was HKD 33,067,000, up from HKD 27,238,000, leading to a gross profit of HKD 4,190,000, which is an increase from HKD 3,569,000[7] - Administrative expenses rose to HKD 7,757,000 from HKD 5,810,000, contributing to a loss before tax of HKD 3,977,000 compared to a loss of HKD 2,662,000 in the previous year[7] - The basic and diluted loss per share for the period was HKD 0.38, compared to HKD 0.33 in the same period last year[7] - The company reported a loss of approximately HKD 3.9 million for the three months ended March 31, 2022, an increase of HKD 1.3 million compared to the previous year[37] Equity and Financial Position - The total equity attributable to the company's equity holders decreased to HKD 92,452,000 from HKD 96,429,000 as of March 31, 2022[9] - Total borrowings amounted to approximately HKD 47.4 million as of March 31, 2022, down from HKD 53.9 million as of December 31, 2021, resulting in a debt-to-equity ratio decrease from about 55.9% to 51.2%[38] - The current ratio remains stable at approximately 1.7 times as of December 31, 2021, and March 31, 2022[38] Operational Highlights - The company secured 22 new projects during the period, with a total contract value of approximately HKD 42.6 million[25] - The number of projects undertaken by the company decreased from 98 to 94 compared to the previous year[25] - The company continues to focus on its core business of building maintenance and construction services, with no new product or technology developments reported in this period[11] Costs and Expenses - Direct costs rose from approximately HKD 27.2 million to approximately HKD 33.1 million, an increase of about 21.7%[31] - Gross profit increased from approximately HKD 3.5 million to approximately HKD 4.2 million, with a slight decrease in gross margin from 11.5% to 11.3%[32] - Administrative expenses increased by approximately HKD 2.0 million or 34.5%, from approximately HKD 5.8 million to approximately HKD 7.8 million[33] - The financing costs remained stable at approximately HKD 428,000 for the three months ended March 31, 2022, compared to HKD 436,000 in the previous year[35] - The company did not incur any income tax expenses during the periods due to recorded losses[36] Shareholder Information - The company did not declare any dividends for the three months ended March 31, 2022[20] - The company has issued share capital of HKD 10.5 million, with a total of 1,050,000,000 ordinary shares issued, each with a par value of HKD 0.01[42] - The company has not recommended the payment of dividends for the three months ended March 31, 2022[71] Governance and Compliance - The audit committee has reviewed the report and the unaudited condensed consolidated financial statements for the three months ended March 31, 2022[76] - The company has adopted a code of conduct for directors' securities transactions, with no violations reported during the period[70] - The company has established an audit committee in compliance with the corporate governance code, consisting of three independent non-executive directors[74] - The chairman and CEO roles are currently held by the same individual, with the board considering a review of this structure as necessary[68] Accounting and Reporting - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and have not been audited by the company's auditors[15] - The company has maintained its accounting policies consistent with the previous year, with no significant changes in accounting estimates or policies during the reporting period[13] Risk Management - The group maintains a prudent treasury policy to ensure a stable liquidity position and continuously assesses customer credit and financial conditions to mitigate credit risk[41] - The group has no contingent liabilities as of the report date[45] - The group’s operations are primarily conducted in HKD, and the board believes that foreign exchange exposure has minimal impact on the group[46] Investments and Capital Assets - As of March 31, 2022, the group has no significant investments or capital asset plans, nor any major acquisitions or disposals of subsidiaries or associated companies during the three months ending March 31, 2022[44] - The net proceeds from the listing, after deducting related expenses, amounted to approximately HKD 25.2 million, with a remaining unutilized balance of about HKD 2.6 million as of the report date[57] - The group has pledged certain land, buildings, and life insurance investments as collateral for short-term bank borrowings and other general bank financing[55] Employment and Staff - The group employed a total of 122 staff as of March 31, 2022, compared to 131 staff as of December 31, 2021, with employee costs for the three months ending March 31, 2022, approximately HKD 12.7 million, up from HKD 9.8 million for the same period in 2021[56] Fair Value and Financial Assets - The company reported a fair value gain of HKD 18,000 on financial assets measured at fair value through profit or loss, compared to HKD 15,000 in the previous year[7]
圣唐控股(08305) - 2022 Q1 - 季度财报