Revenue Performance - For the three months ended March 31, 2022, the company's revenue was approximately HKD 1.3 million, a decrease of about 34.5% compared to approximately HKD 2.0 million for the same period in 2021[6]. - Total revenue for Q1 2022 was HKD 1,320,405, a decrease of 34.5% compared to HKD 2,015,658 in Q1 2021[16]. - Revenue from electronic gaming equipment sales and distribution decreased by approximately 72.4%, while revenue from consulting and technical services and maintenance services increased by 61.9% and 150.5%, respectively[6]. - Revenue from electronic gaming equipment business decreased by 41.5% to HKD 1,174,559, while consulting and technical services increased by 61.9% to HKD 603,974[16][29]. - Revenue from electronic gaming equipment technical sales and distribution was HKD 438,374, down from HKD 1,589,884, reflecting a significant decline[38]. Financial Losses - The total comprehensive loss for the period was approximately HKD 4.3 million, a decrease of about 1.8% compared to a loss of approximately HKD 4.3 million for the same period in 2021[6]. - The company reported a net loss of HKD 4,265,244 for Q1 2022, slightly improved from a loss of HKD 4,341,636 in Q1 2021[24]. - The company recorded a net loss attributable to shareholders of approximately HKD 4.3 million, consistent with the loss from the same period last year[43]. Operating Expenses - Operating expenses for the period were HKD 3,986,745, a decrease from HKD 4,717,323 in the same period last year[7]. - Operating expenses decreased from HKD 4.7 million to HKD 4.0 million, indicating cost management efforts[41]. - Total employee costs for Q1 2022 were HKD 3,159,224, an increase from HKD 3,003,268 in Q1 2021[22]. - The total employee cost for the period was approximately HKD 3.2 million, an increase from HKD 3.0 million in the previous year, reflecting a rise in workforce[50]. Dividend Policy - The board of directors resolved not to declare any dividends for the period, consistent with the same period in the previous year[6]. - The company did not declare any dividends for the period, consistent with the previous year[25]. - The board has resolved not to declare any dividends for the period, consistent with the previous period[58]. Market Conditions - The decline in new orders was attributed to the impact of COVID-19 on major clients, specifically casino operators in Macau[6]. - The electronic gaming equipment sales and distribution revenue decreased by 72.4% due to the impact of COVID-19, while repair services revenue increased by 150.5%[29]. Strategic Initiatives - The company established a wholly-owned subsidiary named "Pioneer Metaverse Limited" to engage in metaverse-related businesses, indicating a strategic expansion into digital opportunities[36]. - The company is focused on expanding its smart vending machine operations to capture local consumer demand in Macau and the Greater Bay Area[30]. - The company is optimistic about promoting smart vending machines in the Macau SAR and the Greater Bay Area, anticipating growth in digital consumption models[36]. - As of March 31, 2022, the company installed 44 vending machines in Macau and three coffee vending machines in Zhuhai, Greater Bay Area[32]. Shareholder Information - As of March 31, 2022, major shareholders include Mr. Xu with 293,409,680 shares (29.34%), Mr. Wu with 288,719,680 shares (28.87%), and Mr. Chen with 151,580,640 shares (15.16%)[60]. - The combined shareholding of Mr. Xu, Mr. Wu, and Mr. Chen amounts to 733,710,000 shares, representing approximately 73.37% of the total issued shares[61]. Compliance and Governance - The company has complied with all applicable provisions of the Corporate Governance Code during the period[67]. - The audit committee has reviewed the unaudited condensed consolidated financial statements and believes they comply with applicable accounting standards and legal requirements[73]. - No significant events requiring disclosure occurred between March 31, 2022, and the report date[69]. Asset Management - As of March 31, 2022, the company's current assets net value was approximately HKD 26.2 million, down from HKD 30.6 million as of December 31, 2021[45]. - The company had no significant investments or acquisitions during the period, maintaining a conservative approach to capital allocation[47]. Foreign Exchange Impact - The company incurred a net foreign exchange loss of HKD 33,213, compared to a loss of HKD 24,532 in the previous year[19]. - The group reported a net foreign exchange loss of HKD 33,213 due to unfavorable fluctuations in the USD/HKD exchange rate affecting its HKD liabilities[57].
亚洲先锋娱乐(08400) - 2022 Q1 - 季度财报