Financial Performance - For the three months ended March 31, 2022, the group's unaudited revenue was approximately HKD 5.7 million, a decrease of about 56.5% compared to HKD 13.1 million for the same period in 2021[3] - The group's unaudited net loss for the three months ended March 31, 2022, was approximately HKD 14.2 million, an increase of about 23.5% from HKD 11.5 million for the same period in 2021[3] - The gross loss for the three months ended March 31, 2022, was HKD 8.5 million, compared to a gross loss of HKD 5.3 million for the same period in 2021[5] - Operating loss for the three months ended March 31, 2022, was HKD 15.3 million, compared to HKD 12.0 million for the same period in 2021[5] - Total comprehensive loss for the three months ended March 31, 2022, was HKD 13.8 million, compared to HKD 12.1 million for the same period in 2021[7] - The net loss attributable to owners of the company for the three months ended March 31, 2022, was HKD 14.2 million, with a basic and diluted loss per share of HKD 3.56[5] - Revenue for the three months ended March 31, 2022, was HKD 5,661,000, a decrease of 56.8% compared to HKD 13,115,000 for the same period in 2021[14] - The net loss attributable to owners for the three months ended March 31, 2022, was HKD 14,235,000, compared to a net loss of HKD 11,516,000 in 2021[24] - Basic loss per share for the three months ended March 31, 2022, was HKD 3.56, compared to HKD 2.88 in 2021[24] Revenue Breakdown - Revenue from Hong Kong for the three months ended March 31, 2022, was HKD 3,608,000, down 54.3% from HKD 7,882,000 in 2021[16] - Revenue from China for the same period was HKD 1,888,000, a decline of 64.1% compared to HKD 5,233,000 in 2021[16] - Revenue breakdown by region for 2022 shows Hong Kong at HKD 3,608 thousand (63.7%), China at HKD 1,888 thousand (33.4%), and Macau at HKD 165 thousand (2.9%) compared to 2021 figures[28] - Revenue from exhibitions accounted for approximately 31.3% of total revenue for the three months ended March 31, 2022, compared to 27.4% in 2021[25] Expenses and Costs - Total expenses for the three months ended March 31, 2022, were HKD 21,028,000, a decrease of 16.9% from HKD 25,284,000 in 2021[18] - Service costs decreased by approximately 23.4% from HKD 18.4 million to about HKD 14.1 million, consistent with the revenue decline[29] - Selling expenses decreased by about 20.0% from HKD 0.5 million to approximately HKD 0.4 million due to reduced employee costs in the sales and marketing department[31] - Administrative expenses slightly increased by approximately 3.2% from HKD 6.3 million to about HKD 6.5 million, mainly due to higher administrative employee costs[32] Corporate Governance and Compliance - The company has complied with the corporate governance code as per GEM Listing Rules, with one exception noted[58] - The board of directors confirmed full compliance with the trading standards set out in the code of conduct during the reporting period[50] - The audit committee, consisting of three independent non-executive directors, reviewed the financial performance for the first quarter and found the unaudited condensed consolidated financial statements to be prepared in accordance with applicable accounting standards[64] - As of March 31, 2022, the unaudited financial results for the three months ended have not been audited or reviewed by the company's auditors[65] Shareholder Information - As of March 31, 2022, the founder Mr. Huang Wenbo holds 290,000,000 shares, representing 72.5% of the company's equity[53] - Mr. Huang Zhibo, as the spouse of a major shareholder, holds 2,700,000 shares, accounting for 0.68% of the company's equity[53] - Mega King, a controlled corporation, holds 290,000,000 shares, which is 72.5% of the company's equity[55] - The company has not redeemed, purchased, or sold any of its securities during the reporting period[51] - No other individuals have reported holdings or interests in the company's shares as of March 31, 2022[57] - There are no reported interests or holdings by other major shareholders outside of those disclosed[57] Future Outlook - The group anticipates a gradual recovery in the economy of Hong Kong, China, and Macau, and aims to minimize the impact of the pandemic[25] - The company has not disclosed any new strategies or market expansions in the current report[58] Employee Information - The total employee cost for the reporting period was approximately HKD 12.9 million, down from HKD 14.4 million in the previous period, with a total of 166 employees as of March 31, 2022[44] Leadership - The chairman and CEO roles are held by Mr. Wong Man Po, who has been managing the group's business since its inception, providing strong leadership[59] Dividend Information - The board does not recommend the payment of any dividend for the three months ended March 31, 2022[4] - The board did not recommend any dividend for the three months ended March 31, 2022[21] Events and Activities - The group conducted 75 events during the reporting period, down from 89 events in the same period last year[25] Financial Income - The company reported a financial income of HKD 0.076 million for the three months ended March 31, 2022, compared to HKD 0.047 million for the same period in 2021[5] Capital Structure - The company's total equity as of March 31, 2022, was HKD 115.4 million, down from HKD 129.1 million as of January 1, 2022[8] - The group's capital structure as of March 31, 2022, included equity attributable to owners of approximately HKD 115.4 million, down from HKD 129.1 million as of December 31, 2021[37] Share Option Scheme - The company adopted a share option scheme on December 1, 2017, aimed at attracting and retaining top talent, with no options granted, exercised, canceled, or lapsed as of March 31, 2022[63]
AV策划推广(08419) - 2022 Q1 - 季度财报