Financial Performance - Revenue for the third quarter of 2022 was HKD 23,929,000, a decrease of 50.6% compared to HKD 48,443,000 in the same period of 2021[8] - Gross profit for the third quarter was HKD 3,812,000, down 40.2% from HKD 6,384,000 year-on-year[8] - The net loss for the third quarter was HKD 4,529,000, compared to a loss of HKD 832,000 in the same quarter of 2021, representing a significant increase in losses[8] - Total revenue for the nine months ended September 30, 2022, was HKD 138,318,000, slightly up from HKD 136,447,000 in the same period of 2021[8] - The company reported a basic loss per share of HKD 0.43 for the third quarter, compared to HKD 0.10 in the same quarter of the previous year[8] - The total comprehensive loss for the nine months ended September 30, 2022, was HKD 8,090,000, compared to HKD 3,812,000 for the same period in 2021[8] - The company recorded a loss attributable to equity holders of approximately HKD 4.5 million for the three months ended September 30, 2022, compared to a loss of HKD 0.8 million for the same period in 2021[24] - The company reported a loss of approximately HKD 8.0 million for the nine months ended September 30, 2022, an increase of about HKD 4.2 million compared to the same period in 2021[39] Expenses and Costs - Administrative expenses increased to HKD 9,464,000 in the third quarter, up 33.5% from HKD 7,088,000 in the previous year[8] - Direct costs rose from approximately HKD 120.5 million for the nine months ended September 30, 2021, to approximately HKD 122.2 million for the same period in 2022, an increase of about 1.4%[31] - Administrative expenses surged by approximately HKD 7.5 million or 40.5%, from about HKD 18.5 million to approximately HKD 26.0 million for the nine months ended September 30, 2021, and 2022 respectively[34] - Employee costs, including director remuneration, were approximately HKD 33.0 million for the nine months ended September 30, 2022, compared to approximately HKD 32.3 million for the same period in 2021[50] Income and Other Revenue - Other income for the third quarter was HKD 1,440,000, significantly higher than HKD 235,000 in the same period last year[8] - Other income increased from HKD 0.2 million to HKD 3.3 million for the nine months ended September 30, 2021, and 2022 respectively, primarily due to government subsidies related to COVID-19[35] Assets and Liabilities - The company’s total assets as of September 30, 2022, were HKD 96,429,000, reflecting a decrease in retained earnings to HKD (11,976,000)[10] - The current ratio improved from approximately 1.3 times as of December 31, 2021, to 1.4 times as of September 30, 2022[40] - Total borrowings decreased to approximately HKD 31.0 million as of September 30, 2022, down from approximately HKD 53.9 million as of December 31, 2021[40] - The debt-to-equity ratio improved from approximately 55.9% as of December 31, 2021, to approximately 35.1% as of September 30, 2022[40] Operations and Projects - The company continues to focus on expanding its operations in the construction sector, particularly in maintenance and renovation projects in Hong Kong[13] - The company secured 51 new projects during the nine months ended September 30, 2022, with a total original contract value of approximately HKD 110.2 million[27] - The company plans to continue strengthening cost control and resource management while actively participating in project tenders to maintain market competitiveness[27] Corporate Governance - The company has established an audit committee to oversee the appointment and independence of external auditors, consisting of three independent non-executive directors[80] - The company has complied with the corporate governance code as per GEM listing rules, with a clear separation of roles between the chairman and the CEO[72] - There were no conflicts of interest reported among directors or major shareholders as of September 30, 2022[69] - The company has adopted a share option scheme in June 2018, compliant with GEM listing rules[75] - The audit committee has reviewed the unaudited condensed consolidated financial statements for the nine months ending September 30, 2022[80] Shareholder Information - The company did not recommend the payment of dividends for the nine months ended September 30, 2022[23] - As of September 30, 2022, the company had issued share capital of HKD 10.5 million, with 1,050,000,000 ordinary shares outstanding[43] - The company has approximately HKD 25.2 million in net proceeds from its listing, with about HKD 2.3 million remaining unutilized as of the report date[59] - The company has not engaged in any significant acquisitions or disposals of subsidiaries or associated companies during the nine months ended September 30, 2022[46] - The company has not issued any share options during the relevant period, maintaining a strict adherence to trading rules for directors[73] - No share options were granted during the relevant period, and there were no unexercised share options as of September 30, 2022[76] Employee and Health Safety - The company has implemented various measures to ensure employee health and safety amid the COVID-19 pandemic, including the establishment of a crisis management team[29] - The company employed a total of 101 staff as of September 30, 2022, down from 110 staff as of December 31, 2021[50] - The board will review the need for appointing a suitable candidate for the CEO role if necessary[72]
洢人壹方控股(08305) - 2022 Q3 - 季度财报