Financial Performance - The Group recorded a revenue of approximately HK$352.1 million for the nine months ended 31 December 2022, representing an increase of approximately HK$90.2 million or 34.4% compared to the same period in 2021[7]. - The Group achieved a net profit of approximately HK$4.0 million for the nine months ended 31 December 2022, a significant turnaround from a net loss of approximately HK$11.3 million for the same period in 2021[7]. - The gross profit for the nine months ended 31 December 2022 was approximately HK$16.9 million, compared to HK$10.4 million for the same period in 2021, reflecting improved operational efficiency[13]. - The Group's profit from operations for the nine months ended 31 December 2022 was approximately HK$5.6 million, compared to a loss of approximately HK$7.8 million for the same period in 2021[13]. - The profit before taxation for the nine months ended 31 December 2022 was approximately HK$4.0 million, compared to a loss of approximately HK$11.5 million for the same period in 2021[13]. - For the three months ended December 31, 2022, the company reported a profit of HK$236,000, compared to a loss of HK$6,041,000 in the same period of 2021, marking a significant turnaround[14]. - For the nine months ended December 31, 2022, the company achieved a profit of HK$4,031,000, a substantial improvement from a loss of HK$11,421,000 in the previous year[14]. - The total comprehensive income for the period attributable to owners of the company was HK$236,000 for the three months and HK$4,031,000 for the nine months, compared to losses of HK$6,134,000 and HK$12,795,000 respectively in 2021[15]. Revenue Sources - Diesel oil sales contributed HK$344,458,000, representing a 34.0% increase from HK$257,005,000 in the previous year[34]. - Marine diesel oil sales increased significantly to HK$6,599,000, up from HK$3,162,000, marking a 108.7% growth[34]. - Revenue from diesel oil sales amounted to approximately HK$344.5 million, representing approximately 97.8% of the Group's total revenue for the nine months ended 31 December 2022[111]. Expenses and Costs - The increase in revenue was primarily driven by higher sales of diesel oil and a reduction in administrative expenses, although this was partially offset by an increase in other operating expenses[8]. - The Group's administrative expenses decreased to approximately HK$12.1 million for the nine months ended 31 December 2022, down from HK$12.3 million in the same period in 2021[13]. - The finance costs for the nine months ended 31 December 2022 were approximately HK$2.2 million, a reduction from HK$3.4 million for the same period in 2021[13]. - The cost of inventories recognized as expenses for the nine months ended December 31, 2022, was HK$328,770,000, which is a 33.3% increase from HK$246,673,000 in the previous year[49]. - The Group's cost of sales for the nine months ended December 31, 2022 was approximately HK$335.2 million, an increase of approximately 33.3% from approximately HK$251.5 million for the same period in 2021[112]. Dividends and Share Capital - The Board does not recommend the payment of any dividend for the nine months period ended 31 December 2022[10]. - The company’s share capital increased to HK$13,752,000 as of December 31, 2022, from HK$10,080,000 at the beginning of the period due to the issuance of new shares[15]. - The group did not declare any dividends for the nine months ended December 31, 2022, compared to no dividends declared for the same period in 2021[56]. Equity and Financial Position - As of December 31, 2022, the company's total equity stood at HK$111,442,000, reflecting an increase from HK$95,370,000 at the beginning of the period[15]. - The Group's capital structure included equity attributable to the owners of the Company of approximately HK$111.4 million as of 31 December 2022, an increase from approximately HK$95.4 million as of 31 March 2022[127]. - As of December 31, 2022, the Group's current assets were approximately HK$143.7 million, while current liabilities were approximately HK$91.0 million, resulting in a current ratio of approximately 1.6[120]. - The gearing ratio improved to approximately 34.9% as of 31 December 2022, down from 46.2% as of 31 March 2022[123]. Operational Developments - The Group's performance indicates a positive trend in operational recovery and financial stability moving forward[8]. - The Group's operations focus on the sale and transportation of diesel oil and related products[22]. - The company operates primarily in Hong Kong, with all revenue derived from external customers located in the region[37]. - The Group will focus on talent recruitment and strengthen business development and marketing strategies in the diesel oil market due to a challenging business environment[105][108]. Compliance and Governance - The Audit Committee reviewed the Quarterly Financial Statements for the nine months ended December 31, 2022, confirming compliance with applicable accounting standards and GEM Listing Rules[192]. - The Company has established an Audit Committee to oversee internal control and risk management systems, comprising three independent non-executive Directors[190]. - There are no competing interests from controlling shareholders or Directors that could affect the Company's business during the reporting period[189]. Environmental Compliance - The Group continues to monitor its business operations to ensure compliance with environmental laws and regulations[158]. - No prosecution, penalty, or punishment has been imposed on the Group for violations of environmental laws as of the report date[163]. - The Group has implemented various environmental protection measures to minimize operational impact on the environment[161].
F8企业(08347) - 2023 Q3 - 季度财报