Financial Performance - The Group's revenue for the three months ended June 30, 2022, was HKD 84,279,000, representing a 24.5% increase from HKD 67,639,000 in the same period of 2021[4] - Gross profit for the same period was HKD 9,910,000, slightly up from HKD 9,502,000, indicating a gross margin improvement[4] - The Group's profit before tax was HKD 4,636,000, compared to HKD 4,931,000 in the previous year, reflecting a decrease of 6%[4] - Net profit for the period was HKD 3,900,000, down from HKD 4,238,000, resulting in a decrease of 8% year-on-year[4] - Basic earnings per share for the quarter was HKD 0.49, compared to HKD 0.53 in the same quarter of the previous year[4] - Total revenue increased from approximately HKD 67.6 million for the three months ended June 30, 2021, to approximately HKD 84.3 million for the same period in 2022, representing a growth of about 24.7%[21] - Gross profit increased by approximately HKD 0.4 million or 4.2% to approximately HKD 9.9 million, with the overall gross margin declining from about 14.0% to 11.8%[23] - Profit attributable to owners decreased by approximately HKD 0.3 million or 7.1% to about HKD 3.9 million for the three months ended June 30, 2022[30] Expenses and Costs - The Group's administrative expenses rose to HKD 4,567,000 from HKD 3,707,000, indicating a 23.2% increase[4] - Financing costs increased to HKD 781,000 from HKD 473,000, reflecting a rise of 65%[4] - Sales costs rose from approximately HKD 58.1 million to approximately HKD 74.4 million, an increase of about 28.1% due to a higher number of RMAA and renovation projects undertaken[22] - Administrative expenses increased by approximately HKD 0.9 million or 24.3% to about HKD 4.6 million, mainly due to higher employee costs and depreciation expenses[27] - Financing costs rose by approximately HKD 0.3 million or 60.0% to about HKD 0.8 million, attributed to increased bank loans and guarantees[28] Business Operations and Strategy - Revenue from building maintenance and construction services was HKD 84,181,000, with significant contributions from maintenance and renovation projects[13] - The Group continues to focus on expanding its building maintenance and construction services in Hong Kong, aiming for further growth in the upcoming quarters[13] - The group believes that future opportunities and challenges will continue to be influenced by the pace of recovery in Hong Kong post-pandemic, affecting the property market and labor/material costs[35] - The number of properties constructed and maintained in Hong Kong remains a key driver for growth in the RMAA and renovation industries[35] - The group aims to strengthen its market position and expand market share by exploring business and investment opportunities to enhance revenue sources[35] - The group may consider acquisitions, business rationalization, fundraising, and/or diversification to improve long-term growth potential[35] Corporate Governance - The company did not declare an interim dividend for the three months ended June 30, 2022, compared to no dividend declared for the same period in 2021[17] - The company did not recommend any interim dividend for the three months ended June 30, 2022[47] - The chairman and CEO roles are held by the same individual, Mr. Leung Ka Ho, which the board believes is in the best interest of the company[45] - No directors or major shareholders had any competing business interests or potential conflicts of interest as of June 30, 2022[43] - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the period ending June 30, 2022[44] - The audit committee has reviewed the unaudited consolidated results for the three months ended June 30, 2022, and found them to comply with applicable accounting policies and GEM listing rules[51] Shareholding and Ownership - As of June 30, 2022, both Mr. Leung and Mr. Ho hold 533,000,000 shares each, representing 66.6% of the company's ordinary shares[36] - The beneficial ownership of Mr. Leung and Mr. Ho includes shares held through their respective companies, Sharp Talent and Diamondfield[39] Market Conditions - The company continues to monitor the impact of the COVID-19 pandemic on its operations, although projects have not been suspended due to the pandemic[33] - The group is prepared to compete against future challenges faced by all competitors in the industry[35] - The management team is experienced and has a strong reputation in the market, positioning the group favorably for future competition[35] Investments - There were no significant investments, acquisitions, or disposals of subsidiaries and associates during the reporting period[32] - The company entered into a sale and purchase agreement on August 8, 2022, to acquire 25% of the issued share capital of Acasa Property Limited[49]
CHI HO DEV(08423) - 2023 Q1 - 季度财报