Financial Performance - For the nine months ended January 31, 2023, revenue was approximately HKD 83.1 million, an increase of about 61.7% compared to HKD 51.4 million for the same period in 2022[8] - The loss attributable to equity holders for the nine months ended January 31, 2023, was approximately HKD 25.2 million, compared to a loss of HKD 1.9 million for the same period in 2022[8] - Basic and diluted loss per share for the nine months ended January 31, 2023, was approximately HKD 0.1041, compared to HKD 0.0083 for the same period in 2022[8] - The company recorded a net loss of approximately HKD 25.2 million for the nine months ended January 31, 2023, compared to a net loss of approximately HKD 1.9 million for the same period in 2022, indicating a significant increase in losses[20] - Loss before tax for the three months ended January 31, 2023, was HKD 15,018,000 compared to a profit of HKD 2,660,000 in the same period of 2022[37] - The company reported a loss attributable to equity holders of HKD 15,018,000 for Q3 2023, compared to a profit of HKD 2,660,000 in Q3 2022, indicating a substantial decline[59] - The company reported a loss of HKD 25,238,000 for the nine months ended January 31, 2023, compared to a loss of HKD 1,922,000 in the same period of 2022, indicating a worsening financial position[59] Revenue and Profitability - Revenue for the three months ended January 31, 2023, was HKD 28,604,000, representing a 45.5% increase from HKD 19,676,000 in the same period of 2022[37] - Revenue for the nine months ended January 31, 2023, reached HKD 83,131,000, up 62.0% from HKD 51,356,000 year-on-year[37] - Gross profit for the nine months ended January 31, 2023, was approximately HKD 1.7 million, with a gross margin of about 2%, down from approximately 3.4% in the same period in 2022[15] - Gross profit for the three months ended January 31, 2023, was HKD 272,000, down 56.4% from HKD 623,000 in the same period of 2022[37] Costs and Expenses - Direct costs increased by approximately 64.1% to HKD 81.4 million for the nine months ended January 31, 2023, compared to HKD 49.6 million for the same period in 2022[15] - Administrative expenses rose by approximately 143.6% to HKD 13.1 million for the nine months ended January 31, 2023, compared to HKD 5.4 million for the same period in 2022[17] - The increase in net loss was primarily due to a decrease in other income and other gains, along with an increase in administrative expenses[20] - Employee costs, including director remuneration, increased from HKD 1,367,000 in the first nine months of 2022 to HKD 3,935,000 in 2023, reflecting a significant rise of approximately 187%[54] - The company experienced a significant increase in subcontracting costs, rising from HKD 49,613,000 in the first nine months of 2022 to HKD 81,433,000 in 2023, representing a growth of approximately 64%[54] Other Income and Losses - Other income and losses decreased by approximately HKD 15.5 million, primarily due to an increase in expected credit loss impairment of about HKD 2.0 million[16] - Other income for the nine months ended January 31, 2023, was HKD 48,000, compared to no other income in the same period of 2022[51] Dividends and Share Options - The company does not recommend the payment of an interim dividend for the nine months ended January 31, 2023[9] - The board of directors did not recommend the payment of an interim dividend for the nine months ended January 31, 2023, consistent with the previous year[27] - The company has a total of 25.6 million unexercised share options as of January 31, 2023, with a weighted average exercise price of HKD 0.12 and HKD 0.7[32] - The company has adopted a share option scheme in compliance with GEM Listing Rules since September 26, 2016[31] - There were no other share options granted, exercised, cancelled, or lapsed during the nine months ended January 31, 2023, apart from those disclosed[34] Market Expansion and Strategy - The company plans to expand its business into other markets in the Asia-Pacific region, including Japan, Thailand, and Singapore, while continuing to focus on its core construction business in Hong Kong[11] - The company has not reported any significant new product developments or market expansions during the reporting period[46] Financial Position - The company’s total equity as of January 31, 2023, was HKD 77,047,000, down from HKD 115,647,000 as of January 31, 2022[39] - As of January 31, 2023, the company did not hold any significant investments exceeding 5% of total assets[28] - The company has not purchased, sold, or redeemed any of its listed securities during the nine months ended January 31, 2023[25] Compliance and Audit - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited financial statements for the nine months ended January 31, 2023, and found them compliant with applicable accounting standards and regulations[36] - No major post-reporting date events have been disclosed as of the report date[30] - There were no significant temporary differences during the reporting period, resulting in no deferred tax provisions being recognized[57] Financing Costs - Financing costs for the nine months ended January 31, 2023, were approximately HKD 196,000, compared to HKD 197,000 for the same period in 2022[19] - Interest expenses for other borrowings decreased slightly from HKD 66,000 in Q3 2022 to HKD 65,000 in Q3 2023, and for the nine months, it decreased from HKD 197,000 to HKD 196,000[52] Depreciation and Fair Value Changes - The depreciation of property, plant, and equipment was recorded at HKD 16,000 for the nine months ended January 31, 2023, down from HKD 68,000 in the same period of 2022[54] - The fair value changes of financial assets recorded a gain of HKD 7,716,000 in Q3 2023, compared to a loss of HKD 5,873,000 in Q3 2022, marking a significant turnaround[54]
泰锦控股(08321) - 2023 Q3 - 季度财报