Financial Performance - For the three months ended June 30, 2023, the company reported revenue of HKD 51,907,000, a decrease of 3.15% from HKD 53,598,000 in the same period of 2022[4] - The gross profit for the same period was HKD 8,026,000, representing an increase of 12.3% compared to HKD 7,143,000 in 2022[4] - Operating profit for the first quarter of 2023 was HKD 1,605,000, up 7.9% from HKD 1,487,000 in the previous year[4] - The company recorded a profit before tax of HKD 1,110,000, down 13.5% from HKD 1,283,000 in the same quarter of 2022[4] - Basic earnings per share for Q1 2023 were HKD 1.39, a decrease from HKD 1.60 in Q1 2022[4] - The total comprehensive income for the period was HKD 1,110,000, compared to HKD 1,283,000 in the same quarter of 2022[4] - Profit attributable to owners for the three months ended June 30, 2023, was approximately HKD 1.1 million, down from approximately HKD 1.3 million in 2022[42] Revenue Breakdown - Revenue from renovation projects was HKD 10,200,000, an increase of 80.4% from HKD 5,655,000 in the previous year[18] - Revenue from decoration projects was HKD 41,707,000, down 13.0% from HKD 47,943,000 in the same period of 2022[18] - Total revenue decreased from approximately HKD 53.6 million in the three months ended June 30, 2022, to approximately HKD 51.9 million in the same period of 2023, a decrease of about 3.2%[37] - Revenue from renovation projects increased to approximately HKD 10.2 million, up about 78.9% from approximately HKD 5.7 million in the same period of 2022[37] Expenses and Costs - Financing costs increased to HKD 495,000 from HKD 204,000 in the previous year, reflecting a rise of 142.6%[4] - Administrative expenses rose to approximately HKD 6.4 million, an increase of about 12.3% from approximately HKD 5.7 million in the same period of 2022[40] Shareholder Information - As of June 30, 2023, the company’s beneficial owner, Mr. Chan, holds 11,800,000 shares, representing approximately 14.75% of the issued share capital[46] - Mr. Chan also holds 10,600,000 shares through Acropolis Limited, and directly holds 1,200,000 share options[49] - The company has a total of 10,000,000 share options that remain unexercised as of June 30, 2023[55] Corporate Governance - The audit and risk management committee is chaired by an independent non-executive director, ensuring the integrity of financial reporting[63] - The company has complied with the corporate governance code, with some deviations noted regarding the roles of the chairman and CEO[61] - No major shareholders or directors have interests in competing businesses during the reporting period[56] - The company has confirmed that all directors adhered to the trading compliance guidelines during the reporting period[54] Future Outlook - The company plans to focus on renovation and decoration opportunities in Hong Kong, particularly in commercial and residential developments[43] - The management maintains a cautiously optimistic outlook for renovation and refurbishment projects as the construction industry recovers post-COVID-19[45] Other Information - The company submitted tenders amounting to approximately HKD 440 million during the period, compared to approximately HKD 686.3 million in the same period of 2022[35] - The company has approximately HKD 292.2 million in unrecognized contract revenue as of June 30, 2023, primarily from commercial and residential development projects[43] - The company does not recommend any dividend payment for the period[27] - The company has not engaged in any purchase, sale, or redemption of its listed securities during the reporting period[58] - There have been no significant events occurring after the reporting period as of the report date[59] - The company has adopted a share option scheme since September 30, 2019[52]
艾硕控股(08341) - 2024 Q1 - 季度财报