Financial Performance - For the nine months ended September 30, 2022, the company reported total revenue of HKD 60,977,000, a 33.1% increase from HKD 45,807,000 in the same period of 2021[7] - The gross profit for the nine months ended September 30, 2022, was HKD 4,515,000, down 42.5% from HKD 7,851,000 in the previous year[7] - The company incurred a loss before tax of HKD 64,883,000 for the nine months ended September 30, 2022, compared to a loss of HKD 41,474,000 in the same period of 2021, representing a 56.4% increase in losses[7] - The total comprehensive loss for the nine months ended September 30, 2022, was HKD 64,354,000, compared to HKD 40,947,000 in the same period of 2021, indicating a 57.0% increase in total losses[9] - The company reported a basic and diluted loss per share of HKD 9.71 for the nine months ended September 30, 2022, compared to HKD 6.97 in the same period of 2021[9] - The company recognized other income of HKD 3,394,000 for the nine months ended September 30, 2022, an increase from HKD 2,405,000 in the same period of 2021[7] - Employee costs for the nine months ended September 30, 2022, totaled HKD 57,955,000, an increase of 47.9% from HKD 39,146,000 in the same period of 2021[30] - The group reported a pre-tax loss for the nine months ended September 30, 2022, with total costs including employee costs and depreciation amounting to HKD 22,700,000[30] - The group’s total other income for the nine months ended September 30, 2022, was HKD 3,394,000, compared to HKD 2,405,000 in the same period of 2021[24] - The company incurred a loss of approximately HKD 635,000 from the sale of its subsidiary, Tian Gao Translation Company, for a nominal consideration of HKD 1[44] - The total loss and comprehensive expenses for the period amounted to approximately HKD 64,400,000, compared to HKD 40,900,000 in the previous year[89] Expenses and Costs - Research and development expenses for the nine months ended September 30, 2022, were HKD 659,000, significantly higher than HKD 302,000 in the previous year, reflecting a 118.5% increase[7] - The company’s administrative and other operating expenses rose to HKD 68,008,000 for the nine months ended September 30, 2022, compared to HKD 48,945,000 in the same period of 2021, marking a 38.9% increase[7] - The company’s financing costs increased to HKD 2,039,000 for the nine months ended September 30, 2022, compared to HKD 858,000 in the same period of 2021, representing a 137.5% increase[7] - The interest expense on lease liabilities for the three months ended September 30, 2022, was HKD 738,000, compared to HKD 230,000 in the same period of 2021[26] - Financing costs increased by approximately 122.2% to about HKD 2,000,000, attributed to new office lease liabilities[86] Revenue Streams - The group’s revenue for the three months ended September 30, 2022, was HKD 23,483,000, an increase of 94.1% compared to HKD 12,090,000 for the same period in 2021[21] - The electric vehicle charging business generated revenue of HKD 10,287,000 for the three months ended September 30, 2022, compared to HKD 993,000 in the same period of 2021, marking a significant increase[22] - Sales from electric vehicle charging systems increased by approximately HKD 16,000,000, contributing to the overall revenue growth[65] - The revenue from the electric vehicle charging systems reached approximately HKD 19,700,000, a 4.3 times increase compared to HKD 3,700,000 in the same period last year[71] - The commercial printing services revenue decreased by approximately 16.2% to about HKD 22,300,000 due to reduced sales orders from existing clients[67] - Financial printing services revenue increased by approximately 20.1% to about HKD 16,700,000, driven by an increase in the number of clients[67] Strategic Initiatives - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[7] - The company has signed exclusive electric vehicle charging projects in 23 residential parking lots in Hong Kong, covering over 8,000 parking spaces as of September 30, 2022[52] - The company received over 280 applications for the EHSS project, covering more than 45,000 parking spaces, and expects to continue receiving EHSS projects in the coming months[51] - The company launched Cornerstone GO, a comprehensive technology platform for electric vehicle owners, charging operators, and marketers, with over 70 charging stations currently and plans to expand to over 100 by the end of the year[54] - The company expanded its Southeast Asia operations to Thailand, Malaysia, and Indonesia, establishing a joint venture with Zigma EV Power Company Limited in October 2022[55] - The company was selected as a partner for Link REIT's electric vehicle charging program, providing charging stations at 33 out of 113 parking lots in Hong Kong[55] - The company is exploring potential acquisition targets in Southeast Asia to capitalize on growth opportunities[59] - The company aims to achieve carbon neutrality by 2050, aligning with the Hong Kong government's roadmap for electric vehicle adoption[56] - The company is committed to promoting low-carbon lifestyles and reducing carbon emissions through green transportation initiatives[56] Financing Activities - The company has entered into a green financing agreement of HKD 150,000,000 to support financing payments related to EHSS projects[51] - The company successfully placed a total of 39,520,000 shares at a price of HKD 0.62 per share, raising approximately HKD 24,500,000, with a net amount of HKD 23,300,000 allocated primarily for electric vehicle charging business development[95] - 80% of the net proceeds from the placement will be used for the development of the electric vehicle charging business, while 10% will support the commercial and financial printing business operations, and the remaining 10% will be for general working capital[95] - The company issued 45,316,000 subscription shares at HKD 0.62 per share to creditors, with the proceeds of approximately HKD 28,100,000 utilized for operating expenses related to the electric vehicle charging business[98] - The second subscription agreement resulted in the issuance of 32,320,000 new ordinary shares at a subscription price of HKD 0.62 per share, raising approximately HKD 20,000,000, with a net amount of HKD 19,500,000 fully utilized by September 30, 2022[100][101] - The net proceeds from the second subscription were allocated approximately HKD 13,500,000 for electric vehicle charging business development and HKD 6,000,000 for general working capital[101] - The company entered into a green financing agreement for HKD 150,000,000, with an annual interest rate of 10% for each loan under this financing[104] - A supplementary agreement was established to indefinitely suspend the issuance and subscription of certain warrants, with the interest rate for green loans set to increase to 20% after 15 months from the date of the supplementary agreement[106] - The company has entered into a subscription agreement for the issuance of 20,000,000 new ordinary shares at a subscription price of HKD 0.62 per share, with expected net proceeds of approximately HKD 12,200,000 for operational and general corporate purposes[108] Corporate Governance - The company does not recommend the payment of an interim dividend for the nine months ended September 30, 2022[47] - The board of directors does not recommend the payment of an interim dividend for the period[110] - The company has complied with all applicable corporate governance codes as per GEM listing rules during the period[112] - The company’s directors have confirmed compliance with the trading standards from January 1, 2022, to the report date[113] - The company has not established any arrangements for directors to profit from acquiring shares or debt securities during the period[116] Shareholder Information - As of September 30, 2022, the company’s major shareholders include Mr. Wu Jianwei with a 35.40% stake and Mr. Liang Zihao with a 33.97% stake[120] - As of September 30, 2022, Global Fortune holds 235,603,225 shares, representing 32.10% of the issued share capital[126] - Tanner Enterprises owns 98,392,000 shares, accounting for 13.41% of the issued share capital[126] - Glorytwin possesses 81,000,000 shares, which is 11.04% of the issued share capital[126]
基石科技控股(08391) - 2022 Q3 - 季度财报