Financial Performance - For the nine months ended December 31, 2022, the company's revenue was HKD 261,482,000, representing a 31.3% increase from HKD 199,017,000 in the same period of 2021[4] - Gross profit for the same period was HKD 34,403,000, up 20.5% from HKD 28,603,000 year-on-year[4] - The company's profit before tax for the nine months was HKD 15,922,000, an increase of 10.4% compared to HKD 14,470,000 in the previous year[4] - Net profit for the nine months was HKD 13,073,000, reflecting a 7.4% increase from HKD 12,170,000 in the same period of 2021[4] - Basic earnings per share for the nine months was HKD 1.63, compared to HKD 1.52 in the previous year, marking a 7.2% increase[4] - The company reported total comprehensive income of HKD 13,073,000 for the nine months, down from HKD 14,525,000 in the previous year[4] Expenses and Costs - Administrative expenses increased to HKD 15,907,000 for the nine months, compared to HKD 11,936,000 in the same period of 2021, representing a 33.2% rise[4] - Financing costs for the nine months were HKD 3,386,000, up from HKD 1,694,000, indicating a significant increase of 99.5%[4] - Cost of sales rose from approximately HKD 170.4 million to approximately HKD 227.1 million, an increase of 33.3%[30] - Administrative expenses rose from approximately HKD 11.9 million to approximately HKD 15.9 million, an increase of 33.6%[35] - Financing costs doubled from approximately HKD 1.7 million to approximately HKD 3.4 million, a 100% increase[36] Project and Revenue Generation - The company secured 47 projects generating revenue for the nine months ended December 31, 2022, compared to 38 projects in the same period of 2021[22] - The total original contract amount for new projects secured was approximately HKD 268.7 million for the nine months ended December 31, 2022, up from HKD 255.4 million in the same period of 2021[22] - Total revenue for the nine months ended December 31, 2022, was HKD 261,482,000, with construction segment contributing HKD 261,187,000 and property segment contributing HKD 295,000[14] Dividends and Shareholder Information - The company declared dividends of HKD 2,000,000 during the period, consistent with the previous year[5] - The company did not declare any interim dividend for the nine months ended December 31, 2022, consistent with the same period in 2021[19] - As of December 31, 2022, the company’s directors and senior executives held a total of 548,490,000 shares, representing 68.6% of the company’s issued share capital[45] - Sharp Talent and Diamondfield, both beneficially owned by the directors, each held 533,000,000 shares, accounting for 66.6% of the company’s issued share capital[50] Corporate Governance - The audit committee has been established and consists of three independent non-executive directors, ensuring compliance with corporate governance standards[58] - The audit committee reviewed the unaudited consolidated financial statements for the nine months ended December 31, 2022, and found them to comply with applicable financial reporting standards[60] - 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 for effective management[55] Strategic Focus and Market Position - The company continues to focus on expanding its operations in Hong Kong, particularly in renovation and maintenance projects, as well as property investment for rental income[8] - The company plans to explore further business and investment opportunities to enhance revenue sources[27] - The overall market position is expected to strengthen due to the experienced management team and ongoing projects in the construction industry[27] COVID-19 Impact Mitigation - The company has implemented policies to mitigate the impact of the COVID-19 pandemic on its operations, including emergency planning and ensuring sufficient manpower and material supplies[25] - The company is actively monitoring the COVID-19 situation and maintaining communication with clients, suppliers, and subcontractors to assess any potential impacts on ongoing projects[23] Other Information - No purchases, sales, or redemptions of the company's listed securities were made by the company or its subsidiaries during the nine months ended December 31, 2022[54] - There were no reported competitive businesses or conflicts of interest involving the directors or major shareholders as of December 31, 2022[53] - No share options were granted during the review period, and there were no unexercised share options as of December 31, 2022[57] - The company incurred a Hong Kong profits tax expense of HKD 2,849,000 for the nine months ended December 31, 2022, compared to HKD 2,300,000 for the same period in 2021[17] - Other income increased from approximately HKD 0.1 million to approximately HKD 1.4 million, primarily due to subsidies received under the Employment Support Scheme[32] - Profit attributable to owners increased from approximately HKD 12.2 million to approximately HKD 13.1 million, a growth of 7.4%[39] - The company acquired an additional 25% of Acasa Property Limited, increasing its ownership to 50%[40] - The company conditionally agreed to purchase 25% of Acasa's issued share capital and provide shareholder loans of HKD 40 million and HKD 100 million[43] - The total principal amount of the secured loan for K18 Property Limited is up to HKD 154 million for a 36-month term[43] - After the completion of the acquisition, Acasa became a joint venture with a 50% interest held by the company[43]
CHI HO DEV(08423) - 2023 Q3 - 季度财报