Financial Performance - For the nine months ended September 30, 2022, the group's unaudited revenue was approximately HKD 47.4 million, a decrease of about 52.9% compared to approximately HKD 100.6 million for the same period in 2021[3] - The unaudited loss attributable to the owners of the company for the nine months ended September 30, 2022, was approximately HKD 34.4 million, an increase of about 330.0% compared to approximately HKD 8.0 million for the same period in 2021[3] - The group's gross loss for the nine months ended September 30, 2022, was HKD 13.1 million, compared to a gross profit of HKD 23.9 million for the same period in 2021[4] - The total comprehensive loss for the nine months ended September 30, 2022, was HKD 40.2 million, compared to HKD 5.8 million for the same period in 2021[5] - Total revenue for the nine months ended September 30, 2022, was HKD 47,374,000, down 52.0% from HKD 100,585,000 for the same period in 2021[12] - For the nine months ended September 30, 2022, the company reported a net loss attributable to shareholders of approximately HKD 34.4 million, an increase of about HKD 26.4 million compared to a net loss of approximately HKD 8.0 million for the same period in 2021[34] Revenue Breakdown - Revenue from services for the three months ended September 30, 2022, was HKD 23,361,000, an increase of 10.0% compared to HKD 20,967,000 for the same period in 2021[12] - The company’s revenue from the Hong Kong market for the three months ended September 30, 2022, was HKD 15,525,000, a significant increase from HKD 7,806,000 in 2021[14] - Revenue from the China market for the three months ended September 30, 2022, was HKD 7,463,000, a decrease of 42.5% from HKD 12,897,000 in 2021[14] - Revenue from exhibitions accounted for approximately 45.0% of total revenue for the nine months ended September 30, 2022, down from 64.3% in the same period of 2021[21] Expenses and Costs - Employee benefit expenses for the nine months ended September 30, 2022, were HKD 35,992,000, a decrease of 17.7% from HKD 43,733,000 in 2021[15] - Service costs decreased by approximately 21.1% from about HKD 76.7 million for the nine months ended September 30, 2021, to about HKD 60.5 million for the same period in 2022[26] - Selling expenses decreased by approximately 67.7% from about HKD 3.1 million for the nine months ended September 30, 2021, to about HKD 1.0 million for the same period in 2022[29] Dividends and Equity - The board of directors does not recommend the payment of any dividend for the nine months ended September 30, 2022, consistent with the previous year[3] - The company did not recommend any dividend payment for the nine months ended September 30, 2022, consistent with the previous year[18] - The company's total equity attributable to owners as of September 30, 2022, was HKD 88.9 million, down from HKD 134.0 million at the beginning of the year[6] - The company's capital structure as of September 30, 2022, consisted of equity attributable to shareholders of approximately HKD 88.9 million, down from HKD 128.3 million as of December 31, 2021[35] Operational Insights - The number of events held by the company decreased from 472 in the nine months ended September 30, 2021, to 437 in the same period of 2022[21] - The company continues to operate in the audiovisual, lighting, and sound solution services sector primarily in Hong Kong, China, and Macau[7] - The company has not reported any new product or technology developments in the current financial period[3] - There is no mention of market expansion or acquisitions in the current financial report[3] - The company did not make any significant investments or acquisitions during the nine months ended September 30, 2022[36] Government Support and Financial Management - Government grants received for the nine months ended September 30, 2022, amounted to HKD 1,299,000, compared to HKD 552,000 for the same period in 2021[12] - Other income increased due to a one-time government subsidy received from the Hong Kong government during the nine months ended September 30, 2022[28] - The group maintains a robust liquidity position and closely monitors its cash flow to meet funding needs[40] Corporate Governance and Compliance - The company has complied with the corporate governance code, with the exception of a deviation regarding the roles of the Chairman and CEO[55] - The board confirmed compliance with the trading standards set out in the GEM Listing Rules regarding securities transactions[47] - The group has not entered into any significant contracts with its controlling shareholders during the reporting period[44] Future Outlook - Future outlook and performance guidance are expected to be discussed in subsequent reports[62] - The company is focused on expanding its market presence and exploring new strategies for growth[62] - The report highlights ongoing efforts in product development and technological advancements[62]
AV策划推广(08419) - 2022 Q3 - 季度财报