Revenue Performance - For the first quarter of 2023, the company recorded revenue of approximately HKD 26.3 million, a decrease of about 4.7% compared to HKD 27.6 million in the same period last year[9]. - Revenue from processed and traded food, including transportation services, was approximately HKD 19.0 million, down from HKD 22.7 million year-on-year[9]. - Revenue from restaurant operations increased to approximately HKD 7.3 million, compared to HKD 4.9 million in the previous year, indicating a growth of about 48.98%[9]. - For the three months ended March 31, 2023, total revenue was HKD 26,339,000, a decrease of 4.4% compared to HKD 27,557,000 for the same period in 2022[48]. - Total customer contract revenue for the three months ended March 31, 2023, was HKD 26,339,000, a decrease of 4.4% from HKD 27,557,000 in the same period of 2022[50]. - Revenue from food sales was HKD 19,018,000 for the three months ended March 31, 2023, down 15.8% from HKD 22,391,000 in 2022[50]. - Restaurant operation revenue increased to HKD 7,305,000 in Q1 2023, up 49.5% from HKD 4,884,000 in Q1 2022[50]. Cost and Expenses - The cost of consumed inventory for the quarter was approximately HKD 14.6 million, a decrease of about 18.9% from HKD 18.0 million in the same period last year[10]. - The cost of goods sold for the same period was HKD 14,586,000, down from HKD 17,957,000, reflecting a reduction of 18.8%[28]. - Total depreciation expense for the group was HKD 1,970,000 for the three months ended March 31, 2023, compared to HKD 2,814,000 in the same period of 2022[56]. - Employee benefit expenses increased to approximately HKD 6.9 million, up from HKD 6.1 million year-on-year, due to salary increases implemented in the second half of 2022[12]. Profit and Loss - The company reported a pre-tax loss of approximately HKD 1.6 million, an improvement from a loss of about HKD 3.2 million in the same period last year[10]. - The company recorded an operating loss before tax of HKD 1,647,000, an improvement from a loss of HKD 3,190,000 in the previous year, indicating a 48.3% reduction in losses[28]. - The net loss for the quarter was approximately HKD 1.8 million, compared to a loss of HKD 3.3 million in the same period last year, reflecting a reduction in losses[14]. - The net loss for the period was HKD 1,766,000, compared to a net loss of HKD 3,298,000 in the prior year, representing a 46.4% decrease[28]. - The group reported a pre-tax loss of HKD 1,514,000 for the three months ended March 31, 2023, compared to a loss of HKD 2,766,000 in the same period of 2022[61]. - The total comprehensive loss for the period was HKD 1,119,000, compared to a total comprehensive loss of HKD 2,632,000 for the same period in 2022, indicating a significant reduction in losses[45]. Shareholder Information - As of March 31, 2023, the major shareholder, Jianjing Venture Capital Limited, held 1,050,000,000 shares, representing 75% of the issued share capital[18]. - The company did not purchase, sell, or redeem any of its securities during the three months ended March 31, 2023[22]. - The company has not granted any share options under its share option scheme since its adoption on June 5, 2017[20]. Corporate Governance - The company has complied with the corporate governance code as per GEM Listing Rules during the financial year up to March 31, 2023[25]. - The audit committee, consisting of three independent non-executive directors, has reviewed the report and confirmed compliance with applicable accounting standards[26]. Future Outlook - The company aims to maintain its customer base while seeking new business opportunities and expanding its refrigeration capacity to support business growth[8]. - The company is focused on continuous development through operational improvements and market expansion strategies[8]. - The company continues to focus on its core business of food processing and restaurant operations, with plans for future market expansion and product development[32]. Financial Reporting - The financial data presented is unaudited and prepared in accordance with the applicable disclosure requirements of the GEM Listing Rules[35]. - The report will be available on the Hong Kong Stock Exchange website for at least seven days from the date of publication[3]. - Basic and diluted loss per share for the company was HKD 0.11, improved from HKD 0.20 in the same quarter of 2022[28]. - Basic loss per share for the three months ended March 31, 2023, was HKD 0.11, an improvement from HKD 0.20 in 2022[62]. - The group did not recommend any dividend payment for the three months ended March 31, 2023[59]. - The group’s tax provision for the period was calculated at a rate of 16.5%, consistent with the previous year[58]. - The group’s revenue recognition for food sales occurs at the point of delivery, with payment typically due within 30 to 45 days[52].
运兴泰集团(08362) - 2023 Q1 - 季度财报