Financial Performance - Revenue for the three months ended June 30, 2022, was HKD 19,832,000, an increase of 33.3% compared to HKD 14,854,000 for the same period in 2021[4] - Gross profit for the same period was HKD 1,082,000, up from HKD 265,000, reflecting a significant improvement in profitability[4] - The loss before tax for the three months ended June 30, 2022, was HKD 4,735,000, a decrease in loss compared to HKD 5,359,000 in the prior year[4] - Total comprehensive loss for the period was HKD 7,934,000, compared to HKD 4,147,000 in the same period last year, primarily due to foreign exchange losses[4] - The company reported a basic and diluted loss per share of HKD 0.8, an improvement from HKD 1.45 in the previous year[4] - Total revenue for the three months ended June 30, 2022, was approximately HKD 19,800,000, an increase from approximately HKD 14,100,000 for the same period in 2021[21] - The company reported a loss attributable to shareholders of HKD 4,636,000 for the three months ended June 30, 2022, compared to a loss of HKD 5,081,000 for the same period in 2021[18] Revenue Breakdown - Revenue from security and property management services was HKD 19,659,000, an increase of 38.0% from HKD 14,150,000 in the prior year[11] - Revenue from asset management services decreased to HKD 173,000 from HKD 704,000, indicating a decline in this segment[11] - Revenue from security and property management services increased by approximately HKD 5,500,000 to about HKD 19,600,000 compared to the same period last year[22] - In mainland China, revenue from security and property management services grew from approximately HKD 11,900,000 to about HKD 15,000,000, reflecting a continuous increase of approximately HKD 3,100,000[22] - In Hong Kong, revenue from security and property management services rose from approximately HKD 2,200,000 to about HKD 4,600,000 during the same period[23] - Revenue from security and property management services rose by approximately HKD 5,500,000 or about 39% from approximately HKD 14,100,000 to about HKD 19,600,000 during the same period[30] Expenses and Losses - Administrative expenses increased to HKD 5,662,000 from HKD 4,978,000, reflecting higher operational costs[4] - The company experienced a foreign exchange loss of HKD 3,198,000 during the period, compared to a gain of HKD 1,199,000 in the previous year[4] - Total financial expenses for the three months ended June 30, 2022, amounted to HKD 776,000, compared to HKD 742,000 for the same period in 2021[14] - The cost of services provided for the three months ended June 30, 2022, was HKD 18,750,000, an increase from HKD 14,589,000 in the previous year[16] - Administrative expenses rose by approximately HKD 700,000 or 14% from about HKD 5,000,000 to approximately HKD 5,700,000, mainly due to increased depreciation of right-of-use assets[36] - Financial expenses increased by approximately HKD 34,000 or 4.6% from about HKD 742,000 to approximately HKD 776,000, primarily due to higher financial costs related to leased office properties[37] Government Support and Employment - The company received government subsidies of HKD 614,000 under the Employment Support Scheme to support employee wage burdens[3] - The company has committed to using the Employment Support Scheme subsidies to pay wages and maintain employee numbers at specified levels[3] - The total number of employees increased to 1,233, with 1,207 being full-time and part-time security personnel, reflecting business expansion in Dongying City, Shandong Province, China[33] Corporate Governance and Shareholding - The company has disclosed all relevant interests and holdings in compliance with the Securities and Futures Ordinance[43] - The beneficial ownership structure indicates that Mr. Song and related entities collectively own a significant portion of the company's shares[46] - The company has no other major shareholders or individuals with disclosed interests in its shares as of June 30, 2022, apart from those mentioned[45] - The total shares held by Mr. Song and his controlled entities reflect a strong influence over the company's governance and strategic decisions[44] - The company has a controlled entity, Nansha Huiming, which holds 184,465,046 shares, representing 31.73% of the total issued shares[45] - The beneficial ownership of shares by Changcheng Wealth Management Holdings Limited is confirmed to be 184,465,046 shares[46] Management Changes - Mr. Lu Xingyuan has resigned as an executive director, and Mr. Su Congyue has been appointed as an executive director effective July 22, 2022[59] - As of the report date, the executive directors are Mr. Song Xiaoming, Ms. Song Shiqing, and Mr. Su Congyue[59] - The non-executive director is Mr. Zhong Wenli, and the independent non-executive directors are Mr. Li Zhongfei, Mr. Zhao Jinsong, and Mr. Liu Chengwei[59] - The announcement regarding the changes in executive directors was made on July 22, 2022[59] Compliance and Audit - The audit committee reviewed the financial reporting process and internal control procedures for the three months ended June 30, 2022[55] - The audit committee consists of independent non-executive directors, ensuring oversight of financial reporting[53] - The company maintained compliance with the corporate governance code, except for the separation of the roles of chairman and CEO[52] - The company has adopted written guidelines for securities transactions by directors, confirming compliance during the reporting period[51] Dividends and Stock Options - The company did not recommend the payment of dividends for the three months ended June 30, 2022, consistent with the previous year[18] - No stock options were granted, exercised, canceled, or expired during the three months ended June 30, 2022[48] - A total of 45,883,329 stock options were outstanding as of June 30, 2022, with various exercise prices[54] - The company did not purchase, sell, or redeem any of its listed securities during the three months ended June 30, 2022[49] - No preferential rights are stipulated in the company's articles of association regarding the issuance of new shares[56]
新都酒店(08315) - 2023 Q1 - 季度财报