Revenue Performance - Total revenue for the first quarter was approximately HKD 16.8 million, a decrease of about HKD 1.8 million or 9.7% compared to HKD 18.6 million in the same period last year[20] - Revenue from furniture and home decor sales was HKD 14.3 million, down from HKD 15.7 million, representing a decrease of approximately HKD 1.4 million or 9.4%[8] - Direct sales revenue was approximately HKD 14.0 million, down from HKD 15.5 million, a decrease of about HKD 1.5 million or 9.4%[21] - The group's revenue for the three months ended June 30, 2023, was approximately HKD 16.8 million, a decrease of about HKD 1.8 million or 9.7% compared to the same period in 2022[56] - Total revenue for the three months ended June 30, 2023, was HKD 14.268 million, a decrease from HKD 15.689 million for the same period in 2022, representing a decline of approximately 9.0%[120] - The revenue from furniture and home accessories accounted for 94.7% of total sales in 2023, compared to 92.6% in 2022[120] Profitability and Loss - Gross profit for the quarter was approximately HKD 11.6 million, a decrease of about 6.4% from HKD 12.4 million, while gross margin improved from 66.6% to 69.0%[15] - The company reported a loss attributable to equity holders of HKD 643,000, an improvement from a loss of HKD 948,000 in the previous year[12] - Basic loss per share improved to HKD 0.04 from HKD 0.06 year-on-year[12] - The net loss attributable to owners for the period was approximately HKD 0.6 million, an increase of about HKD 0.3 million or 32.2% compared to the same period in 2022[56] - Total comprehensive expenses for the period amounted to approximately HKD 0.6 million, an increase of about HKD 0.4 million or 37.7% compared to the same period in 2022[56] - The group recorded an unaudited consolidated loss of approximately HKD 0.6 million, compared to a loss of about HKD 0.9 million for the three months ended June 30, 2022[117] Expenses Management - Total expenses for the period included selling and marketing expenses of HKD 8.5 million, down from HKD 8.8 million in Q2 2022[1] - Administrative expenses decreased from HKD 5.9 million in Q2 2022 to HKD 5.0 million in Q2 2023[1] - Sales and marketing expenses decreased by about 3.9% from approximately HKD 8.8 million to about HKD 8.5 million, primarily due to reduced employee costs[114] - Administrative expenses decreased by approximately 15.3% from about HKD 6.0 million to about HKD 5.0 million, mainly due to reduced office expenses and service fees from Shanghai Yitameizhi[115] Business Strategy and Operations - The company will continue to focus on operating its two TREE retail stores and e-commerce platform amid a challenging retail environment in Hong Kong[40] - The company plans to expand its furniture rental business and will continue to integrate and invest to enhance current revenue sources while exploring new opportunities[40] - The company acknowledges that the retail market remains competitive, with weak consumer confidence and spending in Hong Kong due to the impact of COVID-19[40] - The company aims to strengthen its current revenue sources through integration and investment[40] - The company has been focusing on expanding its operations in Hong Kong and mainland China through acquisitions and partnerships[89] - The group operates two "TREE" retail stores in Hong Kong, including a flagship store and a store in Sha Tin, and has been engaged in online sales since May 2019[118] ESG Commitment - The company emphasized its commitment to ESG initiatives, including achieving carbon neutrality and increasing tree planting efforts[22] - The company continues to focus on sustainable development and responsible sourcing practices[22] Dividend Policy - The board did not recommend the payment of an interim dividend for the period[12] - The board does not recommend the payment of an interim dividend for the period[56]
齐家控股(08395) - 2024 Q1 - 季度财报