Financial Performance - Total revenue for the nine months ended September 30, 2022, increased by approximately 64% to HKD 103.5 million compared to HKD 63.1 million in the same period of 2021[11] - Gross profit for the nine months ended September 30, 2022, was approximately HKD 14.3 million, a 14.4% increase from HKD 12.5 million in the same period of 2021[11] - Adjusted EBITDA for the nine months ended September 30, 2022, was approximately -HKD 2.0 million, an improvement from -HKD 7.9 million in the same period of 2021[14] - The company recorded a loss attributable to owners of approximately HKD 4.1 million for the nine months ended September 30, 2022, compared to a loss of HKD 12.9 million in the same period of 2021[14] - The operating profit for the nine months ended September 30, 2022, was HKD (4.277) million, compared to HKD (9.321) million for the same period in 2021[24] - The net profit for the nine months ended September 30, 2022, was HKD (4.983) million, improving from HKD (13.503) million for the same period in 2021[24] - Other income for the nine months ended September 30, 2022, was HKD 446,000, slightly down from HKD 456,000 in the same period of 2021[37] Revenue Breakdown - Average revenue per project rose by approximately 27.8% to HKD 2.3 million from HKD 1.8 million in the same period of 2021[9] - For the three months ended September 30, 2022, the Group's revenue from design and renovation services was HKD 38,436,000, a 69.6% increase from HKD 22,676,000 in the same period of 2021[36] - For the nine months ended September 30, 2022, total revenue from design and renovation services reached HKD 102,764,000, up 64.5% from HKD 62,452,000 in the previous year[36] Project and Operational Metrics - The number of projects increased by 29.4% to 44 projects from 34 projects in the same period of 2021[9] - The number of commercial projects increased by 50.0% to 15 from 10 in the same period of 2021[5] - The number of office projects increased by 29.4% to 22 from 17 in the same period of 2021[5] Expenses and Profitability - Total operating expenses for the nine months ended September 30, 2022, were approximately HKD 18.2 million, down from HKD 22.8 million in the same period of 2021[14] - The gross profit margin decreased to 13.8% from 19.9% in the same period of 2021 due to unstable economic conditions and increased material costs[12] Financial Position - As of September 30, 2022, the group had cash and cash equivalents of approximately HKD 14.5 million, down from HKD 27.4 million as of December 31, 2021[15] - The current ratio as of September 30, 2022, was approximately 1.0, compared to 1.1 as of December 31, 2021[15] - Total liabilities as of September 30, 2022, were approximately HKD 69.2 million, an increase from HKD 63.8 million as of December 31, 2021[15] - The debt-to-asset ratio was 21.9% as of September 30, 2022, slightly down from 22.3% as of December 31, 2021[15] - The Group's net liabilities as of September 30, 2022, amounted to HKD 3,454,000, but the directors believe the Group can continue as a going concern[33] Shareholder and Governance Information - The group did not declare any interim dividend for the nine months ended September 30, 2022, consistent with the previous year[19] - The company has adhered to all corporate governance codes as per GEM Listing Rules during the reporting period[69] - No major shareholders reported any interests in the company's shares as of September 30, 2022[65] - The company did not engage in any arrangements that would benefit directors or their associates in acquiring securities of the company or its affiliates during the nine months[66] Future Outlook and Financing - The Group is implementing measures to enhance its sales network and effective cost control to improve profit margins and operating cash flow[33] - The Group continues to seek alternative financing methods and bank loans to meet its financial obligations and future capital expenditures[33] - The group has no significant future investment or capital asset plans as of September 30, 2022[20] Stock Options and Securities - As of September 30, 2022, the company had 947,000 stock options available for exercise at an exercise price of HKD 0.363, unchanged from December 31, 2021[62] - The total proceeds from exercising all outstanding stock options would amount to HKD 344,000, consistent with the amount reported on December 31, 2021[62] - The company did not purchase, sell, or redeem any of its listed securities during the nine months ended September 30, 2022[71] - The board confirmed compliance with the GEM Listing Rules regarding securities trading by directors during the nine months ended September 30, 2022[70] - There were no changes in the number of stock options exercised during the reporting period, with a total of 16,000 stock options exercised[53] - The Group has not issued any share options during the nine months ended September 30, 2022[48] Taxation - The estimated tax rate for the Group remains at 16.5% for the nine months ended September 30, 2022, consistent with the previous year[41] Audit and Review - The audit committee reviewed the unaudited financial information for the nine months ended September 30, 2022, and discussed it with management[73]
利骏集团香港(08360) - 2022 Q3 - 季度财报