艾硕控股(08341) - 2023 Q1 - 季度财报

Financial Highlights and Statements Unaudited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income The company achieved a significant turnaround this quarter, swinging to a profit with total revenue increasing 31.4% to HKD 53.6 million and gross profit rising 57.8% to HKD 7.14 million Key Financial Indicators for Q1 | Indicator | Three Months Ended June 30, 2022 (HKD '000) | Three Months Ended June 30, 2021 (HKD '000) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Revenue | 53,598 | 40,831 | +31.4% | | Gross Profit | 7,143 | 4,534 | +57.8% | | Profit/(Loss) Before Tax | 1,283 | (786) | Swung to Profit | | Profit/(Loss) for the Period | 1,283 | (786) | Swung to Profit | | Basic Earnings/(Loss) Per Share | 1.60 HK cents | (0.98) HK cents | Swung to Profit | Unaudited Condensed Consolidated Statement of Changes in Equity The Group's total equity increased to HKD 29.39 million as of June 30, 2022, primarily driven by the HKD 1.28 million profit for the period, showing significant improvement from the prior year Summary of Changes in Equity | Item | June 30, 2022 (HKD '000) | June 30, 2021 (HKD '000) | | :--- | :--- | :--- | | Total Equity at Beginning of Period | 28,108 | 19,425 | | Profit/(Loss) for the Period | 1,283 | (786) | | Total Equity at End of Period | 29,391 | 18,639 | Notes to the Financial Statements This section details the company's core business in Hong Kong's housing improvement sector, financial statement preparation basis, and key financial item breakdowns, confirming all revenue is Hong Kong-sourced with no dividends planned - The company is an investment holding company, with its subsidiaries primarily engaged in housing improvement solution services in Hong Kong, including interior fitting-out works for new buildings and renovation, alteration, and addition works for existing buildings[8] - The Board does not recommend the payment of any dividend for the reporting period[24] Segment and Revenue Analysis Total revenue for the quarter increased 31.4% to HKD 53.6 million, driven by fitting-out projects (HKD 47.94 million, +17.4%) and new renovation projects (HKD 5.66 million), with all revenue sourced from Hong Kong Revenue by Business Segment | Business Segment | Q1 2022 (HKD '000) | Q1 2021 (HKD '000) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Fitting-out Projects | 47,943 | 40,831 | +17.4% | | Renovation Projects | 5,655 | – | N/A | | Total | 53,598 | 40,831 | +31.4% | - The Group's revenue is entirely derived from Hong Kong, thus no geographical information is presented[13] Key P&L Items Analysis Finance costs increased to HKD 0.204 million due to higher bank loan interest, administrative expenses rose 7.5% to HKD 5.7 million from staff costs, and no tax provision was made due to the absence of taxable profit - Finance costs increased from HKD 0.07 million in the prior year to HKD 0.204 million, primarily due to increased interest on bank borrowings[19] - No tax provision was made for the current quarter or the prior year due to sufficient tax losses carried forward, resulting in no taxable profit[22] Management Discussion and Analysis Business and Financial Review The Group achieved strong business performance this quarter, with revenue growing 31.4% and gross profit 57.8%, swinging to a profit of approximately HKD 1.3 million, driven by contract revenue from prior-year projects and submitting HKD 686 million in bids - During the period, the company submitted project tenders totaling approximately HKD 686 million but was not awarded new projects, with most bids coming from long-term clients including leading listed property developers in Hong Kong[28] - Revenue increased by 31.4% to HKD 53.6 million, primarily due to the recognition of more contract revenue from a large number of tenders awarded in recent years[30] - Cost of services increased by 28.1% to HKD 46.5 million in line with the increase in revenue[31] - Due to a significant increase in gross profit, the Group swung from a loss of approximately HKD 0.786 million in the prior year to a profit of approximately HKD 1.3 million for the current period[35] Prospects and Outlook The Group is confident in the Hong Kong market, focusing on its core business, with approximately HKD 280 million in unrecognized contract revenue providing stable future income, and plans fundraising to expand the team and enhance cost control for growth - The Group's core competitive advantages include long-term stable relationships with key clients, strong relationships with suppliers and subcontractors, integrated project execution capabilities, and an experienced management team[36] - As of June 30, 2022, the Group's unrecognized contract revenue was approximately HKD 280.2 million, primarily from commercial and residential fitting-out projects for major developers in Hong Kong and mainland China[36] - The Group is confident in the prospects of Hong Kong's construction industry, especially with the government's promotion of the 'Northern Metropolis Development Strategy' expected to increase land supply for private residential and commercial buildings, creating more business opportunities[38] Other Disclosures Interests Disclosure and Share Option Scheme This section discloses director and major shareholder interests, including Chairman Mr. Chan Siu Chung's 14.10% beneficial ownership, details the 2019 share option scheme, and notes adjustments to share options due to share consolidation - Chairman Mr. Chan Siu Chung holds a total of 14.10% interest in the company through his wholly-owned company Acropolis Limited and directly held share options[39] - As of June 30, 2022, a total of 4,270,965 unexercised share options were granted to directors and other employees under the share option scheme[45] - Due to the company's '10-into-1' share consolidation, the exercise price and number of unexercised share options have been adjusted accordingly since April 7, 2022[46] Corporate Governance and Compliance The company largely complied with the Corporate Governance Code, with one deviation where the Chairman and CEO roles are not separate, as the executive directors collectively perform CEO functions; the Audit and Risk Management Committee reviewed the quarterly financial statements - The company complied with the requirements for directors' securities transactions, with all directors confirming compliance[47] - The company has one deviation from the Corporate Governance Code: the roles of Chairman (Mr. Chan Siu Chung) and Chief Executive Officer are not separate, as the Board believes the executive directors collectively perform the CEO function, making a separate position unnecessary to avoid duplication of duties[54] - The Audit and Risk Management Committee, comprising three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements for the quarter[56] - The company did not purchase, sell, or redeem any listed securities during or after the period, nor were there any significant post-reporting period events[52][53]