Financial Performance - For the nine months ended September 30, 2022, the Group recorded revenue of approximately HK$51.6 million, an increase from HK$49.3 million in the same period of 2021[8]. - The loss after taxation for the nine months ended September 30, 2022, amounted to approximately HK$16.3 million, compared to a loss of HK$26.96 million for the same period in 2021, representing a 39% improvement[8][10]. - Basic and diluted loss per share for the nine months ended September 30, 2022, was approximately HK3.98 cents, down from HK7.65 cents in the previous year[10]. - For the three months ended September 30, 2022, revenue was HK$15.55 million, a decrease of 7.2% from HK$16.76 million in the same quarter of 2021[10]. - Gross profit for the nine months ended September 30, 2022, was HK$5.46 million, down from HK$8.62 million in the same period of 2021, reflecting a decline of 36.5%[10]. - Total comprehensive loss for the nine months ended September 30, 2022, was HK$22.19 million, compared to HK$26.47 million in the same period of 2021, indicating a 16.4% reduction in losses[11]. - The total loss before tax for the nine months ended 30 September 2022 was HK$16,290,000, a decrease from HK$26,956,000 for the same period in 2021, reflecting a reduction of approximately 39%[38]. - The total loss for the period for the nine months ended September 30, 2022 was HK$16,290,000, consistent with the loss before tax, reflecting ongoing challenges in the market[38]. Revenue Breakdown - Revenue from external customers for the nine months ended 30 September 2022 was HK$51,610,000, an increase from HK$49,328,000 for the same period in 2021, representing a growth of approximately 4.6%[38]. - Revenue from the manufacturing and trading of threads decreased to approximately HK$38.2 million for the nine months ended September 30, 2022, a decline of approximately 3.1% from HK$39.4 million in the same period in 2021[77]. - Revenue from interior design and decoration increased to approximately HK$10.9 million for the nine months ended September 30, 2022, representing an increase of approximately 9.7% from HK$9.9 million in the same period in 2021[80]. - Revenue from equine services was HK$2.5 million for the nine months ended September 30, 2022, as this segment was newly established in 2021[81]. Expenses and Costs - The Group's administrative expenses for the nine months ended September 30, 2022, increased to HK$21.52 million from HK$17.53 million in the previous year, marking a rise of 22.6%[10]. - The finance costs for the nine months ended September 30, 2022, were HK$1.02 million, up from HK$0.50 million in the same period of 2021, reflecting a 104% increase[10]. - Employee benefit expenses (excluding directors' remuneration) increased to HK$18,180,000 for the nine months ended September 30, 2022, up from HK$15,703,000 in 2021, reflecting a 15.8% increase[59]. - Selling and distribution expenses decreased to approximately HK$4.3 million for the nine months ended September 30, 2022, down approximately 17.9% from approximately HK$5.3 million for the same period in 2021[96]. - The cost of sales for equine services increased to approximately HK$5.4 million for the nine months ended September 30, 2022, from approximately HK$0.9 million for the same period in 2021, representing an increase of 497.2%[88]. Segment Performance - The segment profit from manufacturing and selling of threads was HK$272,000, while the interior design segment reported a profit of HK$9,000[31]. - The segment loss for interior design and decoration services was HK$21,000 for the nine months ended September 30, 2022, a significant improvement from a loss of HK$803,000 in the same period of 2021[38]. - The segment profit for the manufacturing and selling of threads was a loss of HK$1,861,000 for the nine months ended 30 September 2022, compared to a loss of HK$5,571,000 for the same period in 2021, indicating an improvement[38]. - The equine services segment incurred a loss of HK$2,216,000, contributing to a total segment loss of HK$1,935,000 for the period[31]. Corporate Governance and Compliance - The company has adopted the corporate governance code as per GEM Listing Rules and is committed to regular reviews[151]. - The board believes that strong corporate governance practices are essential for safeguarding shareholder interests[150]. - The company confirmed compliance with the required standards of dealings regarding securities transactions by directors for the nine months ended September 30, 2022[154]. - The company confirmed compliance with the trading standards for directors as per GEM Listing Rules from January to September 2022[156]. Future Outlook - Future prospects indicate that the Group expects ongoing impacts from the COVID-19 pandemic and trade conflicts between the PRC and the U.S. to continue affecting its business operations[116]. - The Group anticipates ongoing challenges in its sewing thread manufacturing and sales business due to the COVID-19 pandemic and trade conflicts between China and the United States[120]. - The interior design, fitting out, and decoration services business is expected to diversify the Group's portfolio and increase income sources due to rising demand in Hong Kong and the Greater Bay Area[121]. Shareholding Structure - As of September 30, 2022, Mr. Wong Kwok Wai, Albert holds a 29.33% interest in the Company through a controlled corporation, totaling 120,000,000 shares[130]. - Mr. Leung King Yue, Alex holds a beneficial interest of 10,100,000 shares, representing 2.47% of the Company's issued share capital[130]. - The company's issued ordinary share capital is HK$20,457,093, divided into 409,141,860 shares with a par value of HK$0.05 each[143]. - Three Gates Investment Limited, owned by Mr. Wong, holds 120,000,000 shares, representing 29.33% of the issued share capital[141]. Miscellaneous - The Group does not recommend the payment of an interim dividend for the nine months ended September 30, 2022[55]. - The Group has not yet applied new HKFRSs that have been issued but are not yet effective, and is assessing their potential impact[25]. - The financial statements were prepared in accordance with applicable Hong Kong Financial Reporting Standards and include disclosures required by the GEM Listing Rules[22].
维港育马(08377) - 2022 Q3 - 季度财报