Financial Performance - For the three months ended March 31, 2023, the group's revenue was HKD 26,850,000, a decrease of 6.7% compared to HKD 29,853,000 for the same period in 2022[4] - Gross profit for the same period was HKD 5,687,000, down 32.3% from HKD 8,390,000 year-on-year[4] - The group reported a loss before tax of HKD 7,628,000, compared to a loss of HKD 5,191,000 in the previous year, representing a 46.9% increase in losses[4] - The net loss attributable to owners of the company for the period was HKD 6,677,000, which is an increase of 44.4% from HKD 4,621,000 in the prior year[4] - Basic and diluted loss per share for the period was HKD 1.67, compared to HKD 1.16 for the same period last year[4] - The group’s total comprehensive loss for the period was HKD 7,648,000, compared to HKD 5,244,000 in the previous year, indicating a 45.8% increase in comprehensive losses[4] Expenses - Administrative expenses rose to HKD 11,374,000, up 7.2% from HKD 10,607,000 in the previous year[4] - Employee benefits expenses increased to HKD 17.53 million for the three months ended March 31, 2023, from HKD 15.50 million in the same period of 2022, reflecting a rise of approximately 13.2%[19] - Sales expenses decreased by approximately HKD 0.2 million or 7.6% to HKD 2.7 million for the three months ended March 31, 2023[31] - Administrative expenses increased by approximately HKD 0.8 million or 7.2% to HKD 11.4 million for the same period, primarily due to rising employee costs[32] - Income tax expense decreased from HKD 53,000 in 2022 to HKD 20,000 in 2023, a reduction of approximately 62.3% due to lower pre-tax profits[34] Income and Gains - Other income and gains increased significantly to HKD 944,000 from HKD 53,000, marking a substantial growth[4] Dividend Policy - The company did not recommend any dividend for the three months ended March 31, 2023, consistent with the previous year[21] - No dividend was recommended for the three months ending March 31, 2023, consistent with the same period in 2022[36] Shareholder Information - As of March 31, 2023, major shareholders HM Ultimate held 222,760,000 shares, representing approximately 55.69% of the total issued shares[41] - Directors Yu Zhiming and Chen Weilian each hold 222,760,000 shares, equating to 55.69% ownership, through HM Ultimate[38] - The company has not granted or exercised any share options during the three months ending March 31, 2023[43] Share Incentive Plan - The share incentive plan adopted on July 4, 2022, aims to reward and retain eligible participants contributing to the group's growth[44] - The share incentive plan will remain effective for ten years from the adoption date, unless terminated early[44] - The total number of shares granted under the share incentive plan cannot exceed 10% of the total issued shares of the company as of the adoption date, which is 400,000,000 shares[47] - The board has the discretion to select participants for the share incentive plan and determine the number of reward shares[45] - The company has not issued any new shares under the share incentive plan as of the reporting date[45] Corporate Governance - The company has complied with all provisions of the corporate governance code during the three months ended March 31, 2023[51] - There were no conflicts of interest or competitive business involvement by directors, management, or controlling shareholders during the three months ended March 31, 2023[52] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the three months ended March 31, 2023[55] Business Strategy - The company continues to focus on integrated printing services, including financial printing and marketing collateral, as part of its core business strategy[7] - The company plans to acquire a 51% stake in into23 Limited, which is expected to broaden revenue sources and expand the customer base[25] - The company has no significant market expansion or acquisition strategies disclosed in the current report[41] - The company maintains a solid recurring customer base, which is viewed as a key factor for success in the market despite revenue declines[24]
HM INTL HLDGS(08416) - 2023 Q1 - 季度财报