Financial Performance - Total revenue for the three months ended March 31, 2022, was approximately HKD 53.6 million, a decrease of about 79.2% compared to HKD 257.2 million in the same period of 2021[4] - The loss before tax for the period was approximately HKD 22.7 million, an increase of about 78.7% from a loss of HKD 12.7 million in the same period of 2021[4] - Loss attributable to equity holders of the company was approximately HKD 21.9 million, which is an increase of about 52.1% compared to a loss of HKD 14.4 million in the same period of 2021[4] - Basic and diluted loss per share for the period was approximately HKD 1.70, compared to HKD 1.12 in the same period of 2021[5] - The gross loss for the period was approximately HKD 3.5 million, compared to a gross profit of HKD 2.9 million in the same period of 2021[7] - The total comprehensive loss for the period was approximately HKD 20.9 million, compared to HKD 10.4 million in the same period of 2021[7] - The company's revenue for the first quarter of 2022 decreased by approximately 79.2% to about HKD 53.6 million, compared to HKD 257.2 million in the same period of 2021[38] - Revenue from trading business was HKD 50.2 million, down from HKD 250.3 million in 2021, primarily due to the impact of the Omicron variant and increased COVID-19 cases in Hong Kong[36] - Revenue from petrochemical product storage business decreased by approximately 50.7% to about HKD 3.4 million, compared to HKD 6.9 million in 2021, affected by strict transportation controls in the Yangtze River Delta region[37] - The company's pre-tax loss for the first quarter was HKD 21.9 million, compared to a loss of HKD 14.4 million in the same period of 2021[30] - Basic loss per share for the first quarter was HKD 1.70, compared to HKD 1.12 in 2021[30] - The cost of revenue decreased by approximately 77.6% to about HKD 57 million, down from HKD 254.4 million in 2021, mainly due to the decline in trading revenue[38] - The group recorded a gross loss margin of approximately 6.5% for the period, compared to a gross profit margin of about 1.1% in 2021[43] - The group reported a loss of approximately HKD 22,700,000 for the period, compared to a loss of HKD 12,700,000 in 2021, with a loss attributable to equity holders of approximately HKD 21,900,000[43] - As of March 31, 2022, the total loss attributable to equity holders was approximately HKD 487,900,000, an increase from HKD 467,000,000 as of December 31, 2021[44] Expenses and Costs - Administrative expenses and finance costs for the period totaled approximately HKD 12.5 million and HKD 5.4 million, respectively, compared to HKD 8.4 million and HKD 7.4 million in the same period of 2021[7] - Financing costs for the period were approximately HKD 5,400,000, a decrease from HKD 7,400,000 in 2021, primarily due to the repayment of a USD 50,000,000 bond with a coupon rate of 7.5%[43] Equity and Losses - The company’s accumulated losses reached approximately HKD 590.4 million as of March 31, 2022[11] - The total equity attributable to equity holders of the company was approximately HKD 12.9 million as of March 31, 2022[11] - The group had no secured borrowings as of March 31, 2022, the same as December 31, 2021[46] Dividends and Recommendations - The company did not recommend any interim dividend for the period, consistent with the previous year[28] - The board did not recommend any interim dividend for the period, consistent with 2021[45] Corporate Governance - The company has established an audit committee to oversee financial reporting and internal controls, ensuring compliance with applicable accounting standards and regulations[76] - The company is committed to maintaining high corporate governance standards and has adhered to all relevant GEM listing rules during the reporting period[75] - The financial statements for the first quarter were reviewed by the audit committee and deemed compliant with applicable standards[76] - The company has adopted a code of conduct for directors regarding securities trading, ensuring compliance with GEM listing rules[74] - The board of directors is composed of 7 members, including the chairman Yuan Qingfeng[80] Shareholding Structure - Major shareholder Da Feng Port Overseas Investment Holdings Limited holds 740,040,000 shares, representing approximately 57.46% of the company's issued share capital[63] - Jiang Wen and Li Qiuhua each hold 75,470,000 shares, accounting for 5.86% of the company's issued share capital[63] - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[70] - The company has no knowledge of any other individuals or entities holding interests in its shares that require disclosure under the Securities and Futures Ordinance[66] Future Outlook - The company continues to monitor global economic conditions closely to minimize impacts during the downturn[34] - The group anticipates challenges from the COVID-19 pandemic affecting business activities and plans to manage short-term impacts while seeking investment opportunities[54] - The group aims to optimize resources and simplify operations to save costs while exploring integration opportunities with Jiangsu Yancheng Port Group[54] Other Information - The company has not adopted any new or revised Hong Kong Financial Reporting Standards that would have a significant impact on its financial performance[18] - The net proceeds from the issuance of USD 55,000,000 bonds were approximately USD 52,700,000, intended for refinancing and operational funding[47] - Jiangsu Dafeng, the controlling shareholder, has a wholly-owned subsidiary engaged in various trading businesses, which may be considered competitive to the company[71] - The company acknowledges the contributions of management, staff, business partners, customers, and shareholders for their ongoing support[79] - The company is named "Dafeng Port and Shun Technology Co., Ltd."[81]
盐城港(08310) - 2022 Q1 - 季度财报