Financial Performance - For the three months ended March 31, 2023, the company's revenue was approximately HKD 48,927,000, a slight increase of 0.78% compared to HKD 48,549,000 in the same period last year[22]. - EBITDA for the first quarter of 2023 was HKD 15,594,000, representing a decrease of 18.76% from HKD 19,195,000 in the previous year[11]. - The net profit for the period was approximately HKD 2,746,000, down 66.90% from HKD 8,295,000 in the same quarter of 2022[11]. - Basic and diluted earnings per share for the company were HKD 0.73, compared to HKD 1.86 in the same period last year, reflecting a decrease of 60.87%[74]. - Total comprehensive income attributable to the owners of the company was HKD 2,920,000, a decrease of 60.81% from HKD 7,455,000 in the previous year[74]. - The company reported financing costs of HKD 958,000, an increase of 17.43% from HKD 816,000 in the same period last year[74]. - The company's profit before tax for the three months ended March 31, 2023, was HKD 2,920,000, down 60.8% from HKD 7,455,000 in the same period of 2022[104]. - The income tax expense for the three months ended March 31, 2023, was HKD 517,000, a decrease of 71.5% compared to HKD 1,810,000 in the same period of 2022[102]. Revenue Breakdown - Revenue from elderly care services increased from approximately HKD 36,951,000 to HKD 37,572,000, reflecting a growth of 1.68%[26]. - The company generated HKD 11,344,000 from social welfare department rental placements, which accounted for 23.19% of total revenue, up from 20.15% the previous year[21]. - Sales of elderly-related products and health services contributed HKD 11,355,000, representing 23.21% of total revenue, slightly down from 23.89% in the prior year[21]. - Revenue from the social welfare department's rental of beds under the improved purchase scheme increased from approximately HKD 9,782,000 to about HKD 11,344,000, representing a growth of approximately 15.97%[27]. - Revenue from day care services provided to the elderly under the improved purchase scheme rose from approximately HKD 1,193,000 to about HKD 1,204,000, an increase of approximately 0.92%[28]. - Revenue from individual customers renting beds decreased from approximately HKD 25,877,000 to about HKD 24,920,000, a decline of approximately 3.70%[32]. - Revenue from beds rented by non-governmental organizations increased from approximately HKD 99,000 to about HKD 104,000, reflecting a growth of approximately 5.05%[33]. - Revenue from the sale of elderly-related products and health services decreased from approximately HKD 11,598,000 to about HKD 11,355,000, a decline of approximately 2.10%[34]. - Approximately HKD 12,548,000 of the revenue (over 10% of total revenue) was derived from the Hong Kong government's Improvement Purchase Scheme and Day Care Services[85]. Operational Insights - The company plans to enhance staff training and expand its network of elderly care homes in Hong Kong to meet the increasing demand for elderly services[17]. - The management team is focused on optimizing existing resources and implementing cost control measures to improve profitability[16]. - The crisis response team will continue to monitor the situation in elderly care homes to ensure preparedness for future challenges[16]. - Average occupancy rate for improved purchase scheme elderly homes was 85.66%, down from 86.38% in the previous year, while non-improved purchase scheme homes saw an increase from 77.25% to 81.04%[35]. - Employee costs slightly decreased from approximately HKD 24,253,000 to about HKD 23,981,000, a decline of approximately 1.12%[38]. - Property rental and related expenses decreased significantly from approximately HKD 4,640,000 to about HKD 2,257,000, a drop of approximately 51.36%[39]. Shareholder Information - As of March 31, 2023, Mr. Yi holds 258,336,000 shares, representing approximately 64.58% of the total equity[55]. - Mr. Lei owns 36,032,000 shares, accounting for 9.01% of the total equity[55]. - The company has a total of 400,000,000 issued shares as of March 31, 2023[57]. - The major shareholder, Ruihua, holds 248,700,000 shares, which is 62.18% of the total equity[61]. - The company has a controlled entity, Wan Chang, which holds 258,336,000 shares, representing 64.58% of the total equity[61]. - Yingfeng International Investment Limited holds 32,000,000 shares, equivalent to 8.00% of the total equity[64]. - Ruipei Industrial (Shanghai) Limited also holds 32,000,000 shares, representing 8.00% of the total equity[64]. - Zhongmin Future Holdings Group Limited has 32,000,000 shares, which is 8.00% of the total equity[64]. - The company has a significant indirect ownership structure through various controlled entities[58]. - The total equity ownership structure indicates a high concentration among major shareholders[61]. Compliance and Reporting - The company’s financial report is prepared in accordance with International Financial Reporting Standards (IFRS) and is presented in its functional currency, Hong Kong dollars (HKD)[80]. - The company’s only reportable segment is the operation of elderly care homes, with no further segment analysis provided[83]. - The financial report has been reviewed by the company's audit committee but has not been audited by external auditors[82]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited financial results for the quarter[71]. - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[70]. - The company has not adopted any new or revised accounting standards that would have a significant impact on its financial performance for the reporting period[82].
恒智控股(08405) - 2023 Q1 - 季度财报