Financial Performance - For the three months ended March 31, 2023, the company reported revenue of HKD 38,265,000, an increase of 2.7% compared to HKD 37,257,000 for the same period in 2022[21] - The cost of sales for the same period was HKD 34,240,000, resulting in a gross profit of HKD 4,025,000, down from HKD 4,190,000 in the previous year[21] - The company recorded a loss before tax of HKD 1,554,000, an improvement from a loss of HKD 3,977,000 in the prior year[21] - Basic and diluted loss per share for the period was HKD 0.15, compared to HKD 0.38 for the same period in 2022[21] - For the three months ended March 31, 2023, the company reported a total loss attributable to equity holders of HKD (1,554) thousand, compared to a loss of HKD (3,977) thousand for the same period in 2022, representing a 61.0% improvement in loss[33][37] - Revenue increased from approximately HKD 37.3 million for the three months ended March 31, 2022, to approximately HKD 38.3 million for the three months ended March 31, 2023, representing a growth of about 2.7%[52] - The company reported a loss of approximately HKD 1.6 million for the three months ended March 31, 2023, which is a reduction of HKD 2.4 million compared to the same period in the previous year[59] Expenses and Costs - Administrative expenses decreased to HKD 5,229,000 from HKD 7,757,000 year-over-year, indicating a reduction of approximately 32.0%[21] - Direct costs rose from approximately HKD 33.1 million to approximately HKD 34.2 million, an increase of about 3.3%, attributed to higher subcontracting fees, material costs, and equipment rental costs[53] - Gross profit slightly decreased from approximately HKD 4.2 million to approximately HKD 4.0 million, with the overall gross profit margin declining from about 11.3% to approximately 10.5% due to general inflation[54] - Administrative expenses decreased by approximately HKD 2.6 million or 33.3%, from about HKD 7.8 million to approximately HKD 5.2 million, mainly due to cost control measures implemented in late 2022[55] - Financing costs decreased from approximately HKD 428,000 to approximately HKD 368,000, as the company reduced its bank borrowings during the period[57] Shareholder Information - The board of directors did not recommend the payment of any dividends for the three months ended March 31, 2023[4] - The company does not recommend the payment of dividends for the three months ended March 31, 2023[35] - As of March 31, 2023, Advanced Pacific Enterprises Limited holds 535,670,000 shares, representing a 51% ownership stake in the company[73] - The beneficial owner of Advanced Pacific Enterprises Limited is Mr. Cheung Chung Sum, who also holds 535,610,000 shares, equating to a 51% stake in the company[75] - The company has no other known individuals who have notified it of their interests in the company's shares or related securities, aside from those disclosed[77] Compliance and Governance - The company has established an audit committee to oversee the integrity of financial reporting and the independence of external auditors[4] - There were no securities transactions by directors that violated trading regulations during the reporting period[2] - The company continues to comply with the GEM Listing Rules and has no known conflicts of interest among its directors[1] - The company’s financial statements for the three months ended March 31, 2023, were prepared in accordance with Hong Kong Financial Reporting Standards[28] Project and Business Development - The company secured 34 new projects during the three months ended March 31, 2023, with a total contract value of approximately HKD 32.3 million[42] - The company had 62 projects generating revenue during the three months ended March 31, 2023, down from 94 projects in the same period of 2022[42] - The company operates primarily in the RMAA (Repair, Maintenance, Alteration, and Addition) sector, focusing on project management and quality control[41] - The company is actively seeking opportunities to expand its business outside of Hong Kong, influenced by the development of the property market and infrastructure expansion in Hong Kong[49] Capital and Equity - The company’s total equity as of March 31, 2023, was HKD 73,346 thousand, compared to HKD 96,429 thousand as of December 31, 2022, reflecting a decrease of 23.9%[23] - The company’s capital reserve as of March 31, 2023, was HKD 1,914 thousand, slightly down from HKD 1,941 thousand as of December 31, 2022[23] - Total borrowings increased from approximately HKD 30.1 million to approximately HKD 35.2 million, resulting in a capital debt ratio increase from about 42.0% to approximately 48.9%[59] Employee Information - The company employed a total of 98 employees as of March 31, 2023, down from 102 employees as of December 31, 2022, with employee costs amounting to approximately HKD 7.6 million[64] Use of Proceeds - The net proceeds from the listing, after deducting related expenses, amounted to approximately HKD 25.2 million, fully utilized by the end of the fiscal year ending December 31, 2022[66] - The allocation of the net proceeds includes HKD 1.2 million reserved for potential customer guarantees, HKD 9.4 million for expanding the workforce, HKD 4.3 million for purchasing additional machinery and equipment, and HKD 7.7 million for upgrading the Hong Kong office and studio[67] - The company’s future plans and use of proceeds are based on the best estimates and assumptions made at the time of the prospectus preparation, reflecting actual business conditions and industry developments[74]
圣唐控股(08305) - 2023 Q1 - 季度财报