Revenue Performance - Total revenue for the first quarter was approximately HKD 12.0 million, a decrease of about 31.0% compared to approximately HKD 17.4 million in the same period last year[7]. - Home goods export business contributed approximately 89.0% to total revenue, with sales of about HKD 10.7 million, down approximately 30.5% from the previous period[7]. - E-commerce revenue was approximately HKD 0.8 million, down about 20.0% from approximately HKD 1.0 million in the previous period[7]. - Revenue for the three months ended June 30, 2023, was HKD 11,967,000, a decrease of 31.5% compared to HKD 17,404,000 in the same period of 2022[43]. - Revenue for home goods sales decreased to HKD 11,967,000 in Q1 2023 from HKD 17,404,000 in Q1 2022, representing a decline of approximately 31.5%[62]. - Revenue from Denmark dropped to HKD 2,862,000 in Q1 2023 from HKD 5,083,000 in Q1 2022, a decrease of about 43.5%[64]. - Total revenue from the United States fell to HKD 1,695,000 in Q1 2023 from HKD 4,484,000 in Q1 2022, a decrease of about 62.2%[64]. - Major customer A generated revenue of HKD 2,937,000 in Q1 2023, down from HKD 3,300,000 in Q1 2022, a decline of 11%[67]. Profitability and Loss - Gross profit decreased by approximately 35.6% to about HKD 3.8 million, with a gross margin decline from approximately 33.9% to about 31.7%[12]. - The company recorded a loss attributable to owners of approximately HKD 2.1 million, compared to a profit of approximately HKD 0.6 million in the previous period[20]. - The company reported a net loss attributable to shareholders of HKD 2,083,000 in Q1 2023, compared to a profit of HKD 624,000 in Q1 2022[81]. - Basic and diluted loss per share was HKD (0.21) compared to earnings of HKD 0.06 per share in the previous year[43]. - The company incurred operating loss of HKD 2,065,000, compared to an operating profit of HKD 636,000 in the prior year[43]. - Other comprehensive loss for the period was HKD 1,904,000, significantly down from a gain of HKD 673,000 in the same period last year[47]. Expenses and Costs - Selling and distribution expenses increased to approximately HKD 3.0 million, a rise of about 20.0% from approximately HKD 2.5 million in the previous period[15]. - Sales and distribution expenses increased to HKD 2,967,000 from HKD 2,455,000, reflecting a rise of 20.8% year-over-year[43]. - The cost of home goods sold was HKD 7,386,000 in Q1 2023, down from HKD 10,181,000 in Q1 2022, a reduction of approximately 27.7%[78]. - Rental expenses payable to Pan Hua Home Products (Shenzhen) Co., Ltd. were HKD 450,000, an increase from HKD 425,000 in the previous year[85]. - Financial costs increased approximately 2.5 times to about HKD 14,000 due to higher interest expenses on lease liabilities[17]. Corporate Governance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15, but has not separated the roles of Chairman and CEO, with Mr. She holding both positions, representing 61.125% of the shares[30][31]. - The company has maintained compliance with all applicable provisions of the corporate governance code, except for the separation of the Chairman and CEO roles[30]. - The company has established an audit committee consisting of three independent non-executive directors to review accounting standards and policies for the reporting period[40]. - The audit committee has reviewed the unaudited consolidated financial information for the reporting period[40]. - The company confirmed compliance with the GEM Listing Rules regarding directors' securities trading conduct, with no known violations during the period[28]. Future Outlook and Strategy - The company plans to continue launching more product varieties and expanding its sales network to enhance revenue and profitability despite challenging economic conditions[9]. - The company will continue to review the need for appointing a suitable candidate for the CEO role in the future[30]. Other Financial Information - Other income and net gains decreased to approximately HKD 231,000, down from approximately HKD 260,000 in the previous period[14]. - The company recognized other income and net gains of HKD 231,000, a slight decrease from HKD 260,000 in the previous year[43]. - Interest income increased significantly to HKD 170,000 in Q1 2023 from HKD 6,000 in Q1 2022, marking a growth of 2,733.3%[62]. - The foreign exchange translation difference from overseas operations contributed HKD 179,000 to other comprehensive income, up from HKD 49,000 in the prior year[47]. - Non-current assets in Hong Kong decreased to HKD 947,000 as of June 30, 2023, from HKD 1,105,000 as of March 31, 2023, a decline of 14.3%[65]. - Total equity as of June 30, 2023, was HKD 27,185,000, down from HKD 36,217,000 at the end of the previous year[49]. - For the three months ended June 30, 2023, short-term employee benefits amounted to HKD 626,000, a decrease of 7.3% from HKD 675,000 in the same period of 2022[87]. - Retirement benefit plan contributions remained stable at HKD 18,000 for both 2023 and 2022[87]. - Total employee compensation for the period was HKD 644,000, down 7.1% from HKD 693,000 year-over-year[87]. - There have been no purchases, sales, or redemptions of the company's listed securities during the reporting period[39]. - The company has not disclosed any other individuals or entities holding significant interests in the company's shares beyond those already mentioned[36]. - There are no known direct or indirect competitive businesses or interests that could conflict with the company's operations as of the report date[38].
舍图控股(08392) - 2024 Q1 - 季度财报