Financial Performance - Revenue for the three months ended July 31, 2022, was approximately HKD 24.7 million, an increase of about 59.4% compared to HKD 15.5 million for the same period last year[6] - Loss attributable to equity holders for the same period was approximately HKD 3.5 million, representing an increase of about 250.0% from a loss of HKD 1.0 million in the previous year[6] - Basic and diluted loss per share for the three months ended July 31, 2022, was approximately HKD 1.48 cents, compared to HKD 0.44 cents for the same period last year[6] - For the three months ended July 31, 2022, the net loss was approximately HKD 3.5 million, compared to a net loss of approximately HKD 1.0 million for the same period in 2021, indicating an increase in net loss due to higher employee costs[16] - The company incurred a loss before tax of HKD 3,487,000, compared to a loss of HKD 1,004,000 in the previous year, indicating a significant increase in losses[34] - Total comprehensive loss attributable to equity holders for the period was HKD 3,487,000, compared to HKD 1,004,000 in the prior year[34] Costs and Expenses - Direct costs increased by approximately 61.6% to HKD 24.1 million for the three months ended July 31, 2022, from HKD 14.9 million in the previous year[13] - Administrative expenses rose by approximately 284.6% to HKD 5.0 million for the three months ended July 31, 2022, compared to HKD 1.3 million for the same period last year[14] - Employee costs, including directors' remuneration, amounted to HKD 2,778,000 for the three months ended July 31, 2022, up from HKD 548,000 in the previous year, reflecting a substantial increase in personnel expenses[49] - Subcontracting expenses included in direct costs rose to HKD 24,085,000 for the three months ended July 31, 2022, compared to HKD 14,908,000 in the same period of 2021, showing a significant increase in operational costs[49] Profitability - Gross profit for the three months ended July 31, 2022, was approximately HKD 0.6 million, a decrease of about 5.4% from the previous year[13] - The gross profit margin decreased from approximately 3.9% to about 2.4% for the same period, primarily due to lower profit margins on contract revenues[13] - Direct costs for the same period were HKD 24,085,000, leading to a gross profit of HKD 577,000, a decrease of 5.4% from HKD 610,000 year-on-year[34] Other Income and Losses - Other income and losses for the three months ended July 31, 2022, amounted to approximately HKD 1.0 million, compared to a loss of HKD 0.3 million in the previous year[15] - The company recognized other income of HKD 973,000, a substantial increase from a loss of HKD 269,000 in the same period last year[34] Market and Business Strategy - The company is actively seeking to expand its business into other markets in the Asia-Pacific region, including Japan, Thailand, and Singapore[9] - The company plans to continue focusing on site formation and renovation works in Hong Kong while enhancing its competitive advantages in the construction industry[9] - The company continues to operate primarily in the Hong Kong market, focusing on site formation and renovation projects[39] Corporate Governance - The company confirmed compliance with the corporate governance code as per GEM Listing Rules, with no deviation except for the roles of Chairman and CEO being held by the same individual[23] - The board believes that having the same person serve as both Chairman and CEO provides strong and consistent leadership for the company's operations[23] - The company’s directors confirmed no interests in any competing businesses that could directly or indirectly compete with the company[21] Shareholder Information - The company did not recommend the payment of an interim dividend for the three months ended July 31, 2022, consistent with no dividend in the same period of 2021[25] - As of July 31, 2022, the total number of unexercised share options was 35.2 million, with exercise prices of HKD 0.12 and HKD 0.7, granted on September 30, 2020, and April 8, 2021, respectively[30] - There were no purchases, sales, or redemptions of the company's listed securities during the reporting period[22] - No major shareholders reported any interests in the company's shares or related securities as of July 31, 2022[19] - The company has adopted a share option scheme in compliance with GEM Listing Rules since September 26, 2016[26] Audit and Compliance - The audit committee reviewed the financial statements and confirmed compliance with applicable accounting standards and GEM listing rules[32] - The company did not report any significant new strategies or product developments during the quarter[39] - The weighted average number of ordinary shares for the three months ended July 31, 2022, was 236,800,000 shares, compared to 230,400,000 shares in the previous year, indicating a slight increase in share count[56]
泰锦控股(08321) - 2023 Q1 - 季度财报