Financial Performance - Revenue for the three months ended September 30, 2022, was HKD 346.81 million, a significant increase from HKD 137.23 million in the same period last year, representing a growth of 153%[7] - Gross profit for the same period was HKD 59.14 million, compared to HKD 33.80 million in the previous year, reflecting a gross margin improvement[7] - Operating profit for the three months ended September 30, 2022, was HKD 44.16 million, up from HKD 14.13 million year-over-year, indicating a growth of 212%[7] - Net profit attributable to owners for the three months was HKD 28.61 million, compared to HKD 8.64 million in the same period last year, marking an increase of 231%[9] - Basic earnings per share for the three months was HKD 3.88, compared to HKD 1.29 in the same period last year, reflecting a significant increase[9] - For the nine months ended September 30, 2022, total revenue reached HKD 697.07 million, up from HKD 253.06 million in the same period last year, representing a growth of 175%[7] - The company’s operating profit for the nine months was HKD 83.47 million, compared to HKD 21.99 million in the previous year, indicating a growth of 279%[7] - Profit attributable to the company's owners surged by 259.7%, rising from HKD 14.0 million to HKD 50.5 million for the nine months ended September 30, 2022[41] - The company's basic earnings per share increased to HKD 6.92 for the nine months ended September 30, 2022, compared to HKD 2.10 for the same period in 2021[34] - The diluted earnings per share for the nine months ended September 30, 2022, was HKD 6.87, compared to HKD 2.08 in the same period of 2021[38] Comprehensive Income - The company reported a total comprehensive income of HKD (24.44) million for the three months, down from HKD 10.80 million in the previous year, primarily due to foreign exchange losses[9] - The total comprehensive income for the nine months was HKD (29.02) million, compared to HKD 20.20 million in the previous year, impacted by foreign exchange fluctuations[9] Revenue Breakdown - The energy storage business generated revenue of HKD 140,987 thousand for the nine months ended September 30, 2022, compared to HKD 72,569 thousand in the previous year, marking an increase of about 94%[22] - The EPC services segment reported revenue of HKD 469,985 thousand for the nine months ended September 30, 2022, up from HKD 104,789 thousand in the same period of 2021, reflecting a growth of approximately 348%[22] - Revenue from energy storage business increased to HKD 141.0 million for the nine months ended September 30, 2022, compared to HKD 72.6 million in the same period of 2021, driven by higher sales of industrial energy storage systems[54] - Revenue from the new photovoltaic film business reached HKD 28.4 million for the nine months ended September 30, 2022, following its launch in Q4 2021[54] Expenses and Costs - The company reported a total tax expense of HKD 21,759 thousand for the nine months ended September 30, 2022, compared to HKD 6,683 thousand in the same period of 2021, representing an increase of approximately 226%[28] - Total revenue cost increased to HKD 556.4 million for the nine months ended September 30, 2022, from HKD 193.6 million in the same period of 2021, aligning with revenue growth[55] - Selling and marketing expenses rose to HKD 12.6 million for the nine months ended September 30, 2022, from HKD 7.8 million in the same period of 2021, mainly due to increased employee benefits and sales-related costs[60] - Administrative expenses increased to HKD 55.5 million for the nine months ended September 30, 2022, from HKD 37.8 million in the same period of 2021, driven by higher employee benefits and R&D expenditures[60] Shareholder Information - As of September 30, 2022, Dr. Li Xianyi holds 132,990,198 shares, representing approximately 16.94% of the company's issued share capital[82] - Mr. Dong Qingbo owns 48,878,216 shares, accounting for about 6.23% of the company's issued share capital[82] - The total shares held by Dr. Li Xianyi and Mr. Dong Qingbo in concerted action amount to 502,343,417 shares, which is approximately 63.99% of the company's issued share capital[82] - Mr. Li Shengdian holds 46,048,013 shares, representing about 5.87% of the company's issued share capital[82] - The total shares held by Mr. Li Shengdian in concerted action is 512,259,017 shares, which is approximately 65.25% of the company's issued share capital[82] - The company has a significant concentration of ownership, with major shareholders holding over 68% of the issued share capital collectively[86] - The company’s major shareholders include Dr. Li Xianyi, Mr. Dong Qingbo, and others, who collectively control a substantial portion of the shares[87] Corporate Governance - The company has adopted a strict code of conduct for securities trading by directors, in compliance with GEM Listing Rules[80] - No violations of the trading standards have been reported by the directors as of September 30, 2022[80] - The company has ensured no competitive business overlap with Xinyi Solar Holdings Limited, maintaining distinct geographical operations[94] - The company has adhered to the corporate governance code as per GEM listing rules during the nine months ending September 30, 2022[99] - As of September 30, 2022, there were no reported interests or potential conflicts of interest from directors or controlling shareholders in competing businesses[98] - The company’s management continues to review corporate governance standards to meet increasing regulatory requirements and stakeholder expectations[99] Future Plans - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[5] - The company plans to continue expanding its energy storage and EPC services to capitalize on market growth opportunities[22] - The company is actively developing photovoltaic film products, with production facilities being established in Wuhu, Anhui Province, and Malaysia, expected to be operational in Q4 2022[47] - The company has expanded its EPC services to Canada, successfully securing more contracts due to increased solar demand[44] Stock Options and Securities - The company granted 4,600,000 stock options under the stock option plan, with 1,500,000 options subsequently canceled, leaving a total of 14,627,788 unexercised options as of September 30, 2022[92] - The company did not purchase, sell, or redeem any of its listed securities during the nine months ending September 30, 2022[93] - The board of directors did not recommend the payment of dividends for the nine months ending September 30, 2022, consistent with the previous year[100] - The company has adopted new accounting policies effective from January 1, 2022, but has not yet determined their significant impact on performance and financial position[20] - The company is evaluating the impact of new accounting standards issued by the Hong Kong Institute of Certified Public Accountants that are yet to be effective[20]
信义储电(08328) - 2022 Q3 - 季度财报