Financial Performance - The group's unaudited revenue for the three months ended June 30, 2023, was approximately HKD 3,314,000, a decrease of about 15.9% compared to the same period last year (approximately HKD 3,940,000) [10]. - The group's unaudited gross profit slightly decreased to approximately HKD 1,272,000, down about HKD 4,000 or 0.3% from the previous period's gross profit of approximately HKD 1,276,000 [10]. - The group recorded an unaudited loss of approximately HKD 3,273,000 for the relevant period, a reduction of about HKD 1,863,000 compared to a loss of approximately HKD 5,136,000 in the previous period [10]. - Revenue decreased by approximately 15.9% from about HKD 3,940,000 to approximately HKD 3,314,000, primarily due to reduced sales in Taiwan [17]. - The net loss for the period was HKD 3,273,000, a decrease from approximately HKD 5,136,000 in the same quarter of 2022, showing a significant reduction in losses [39]. - Total comprehensive loss for the three months ended June 30, 2023, was HKD 2,752,000, an improvement from a total comprehensive loss of HKD 4,644,000 in Q2 2022 [41]. Revenue Sources - Approximately 83.4% of the group's revenue for the relevant period came from Hong Kong clients, up from 67.5% in the previous year [12]. - Revenue from Hong Kong increased by approximately 4.0% to about HKD 2,764,000, driven by clients' willingness to increase advertising budgets [13]. - Revenue from Taiwan decreased to approximately HKD 385,000, down from approximately HKD 1,001,000 in the previous year, due to a challenging operating environment [14]. - Total revenue from Southeast Asia dropped to approximately HKD 165,000, down from approximately HKD 281,000 in the previous year [15]. - Revenue from external customers for Hong Kong was HKD 2,764,000 in Q2 2023, an increase of 4% from HKD 2,658,000 in Q2 2022 [49]. - Revenue from Taiwan decreased significantly to HKD 385,000 in Q2 2023, down 61.5% from HKD 1,001,000 in Q2 2022 [49]. Cost Management - Service costs decreased by about 23.3% from approximately HKD 2,664,000 to approximately HKD 2,042,000, mainly attributed to the decline in sales [18]. - Selling and distribution costs increased slightly by about 2.6% from approximately HKD 1,551,000 to approximately HKD 1,591,000, remaining relatively stable [20]. - Administrative and other operating expenses decreased by about 6.2% from approximately HKD 3,425,000 to approximately HKD 3,212,000, mainly due to a reduction in foreign exchange losses [21]. - The company incurred employee costs of HKD 2,936,000 in Q2 2023, slightly up from HKD 2,877,000 in Q2 2022, reflecting a 2.1% increase [52]. Other Income and Gains - Other income increased from a loss of approximately HKD 1,365,000 to income of approximately HKD 260,000, primarily due to increased fair value gains on financial assets [22]. - The company recorded a fair value gain of HKD 246,000 on financial assets for the three months ended June 30, 2023, compared to a loss of HKD 1,461,000 in the same period of 2022 [51]. Corporate Governance and Compliance - The company has complied with all corporate governance codes as per GEM listing rules, except for the separation of the roles of Chairman and CEO [33]. - The audit committee reviewed the unaudited condensed consolidated financial statements and confirmed compliance with applicable accounting standards and GEM listing rules [38]. Future Plans and Strategy - The company plans to recruit more talent, particularly in business development, to enhance team capabilities and meet evolving client needs [16]. - The company aims to strengthen its member base by focusing on diversity in age, interests, and lifestyles to attract more customers [16]. - The company holds a competitive advantage and aims to solidify its leading position in the advertising industry by leveraging its experience and reputation [16].
源想集团(08401) - 2024 Q1 - 季度财报