Financial Performance - The company's revenue for the first quarter of 2022 reached HKD 25,437,000, a significant increase of 128% compared to HKD 11,187,000 in the same period of 2021[5] - Gross profit for the first quarter was HKD 7,188,000, up 107% from HKD 3,468,000 year-over-year[5] - The profit before tax for the quarter was HKD 4,521,000, compared to HKD 854,000 in the previous year, marking a growth of 429%[5] - The net profit attributable to the owners of the company for the quarter was HKD 4,159,000, compared to HKD 1,095,000 in the same quarter of 2021, representing an increase of 279%[5] - Earnings per share for the first quarter were HKD 1.04, compared to HKD 0.27 in the previous year, reflecting a growth of 285%[5] - The company's revenue for the three months ended June 30, 2022, increased by approximately 127.4% to about HKD 25.4 million, compared to approximately HKD 11.2 million for the same period in 2021[30] - Gross profit rose by approximately 107.3% to about HKD 7.2 million, compared to approximately HKD 3.5 million in the previous year, with a gross margin decrease from about 31.0% to approximately 28.3%[32] - The net profit attributable to the company's owners for the three months ended June 30, 2022, was approximately HKD 4.2 million, a significant increase of about 279.8% from approximately HKD 1.1 million in 2021[37] - The basic earnings per share for the period was HKD 1.04, compared to HKD 0.27 for the same period last year[25] Revenue Sources - Revenue from leasing and related services was HKD 24,039,000, a 121% increase from HKD 10,863,000 in the prior year[16] - Revenue from equipment and parts trading was HKD 1,398,000, up from HKD 324,000, indicating a growth of 332%[16] Expenses and Costs - Administrative expenses for the quarter were HKD 2,740,000, slightly higher than HKD 2,587,000 in the previous year[5] - Financing costs increased to HKD 368,000 from HKD 37,000, reflecting a rise of 894%[5] - The cost of sales and services for the same period was approximately HKD 18.2 million, an increase of about 136.4% from approximately HKD 7.7 million in 2021[31] - Administrative expenses increased by approximately 5.9% to about HKD 2.7 million, primarily due to the depreciation of right-of-use assets[35] - Financing costs surged by approximately 894.6% to about HKD 368,000, attributed to increased financing liabilities and bank borrowings related to tower crane leasing[36] Equity and Shareholding - The total equity of the company as of June 30, 2022, was HKD 125,513,000, an increase from HKD 124,389,000 a year earlier[7] - The company is owned 30.0% by the investment holding company Xingji Limited, with Mr. Tang Xingqiang and Ms. Qu Fengyi holding 90% and 10% of Xingji, respectively[39] - Mr. Tang Xingqiang holds 120,000,000 shares, representing 30.0% of the issued shares, while Ms. Qu Fengyi also holds 120,000,000 shares, representing 30.0%[39] - Major shareholder Xingji Limited holds 120,000,000 shares, accounting for 30.0% of the total issued shares[44] - Mr. Li Ruliang holds 109,024,000 shares, representing 27.3% of the total issued shares[44] - The company has not issued any stock options since the adoption of the stock option plan on February 23, 2017, and there are no unexercised options as of June 30, 2022[47] Corporate Governance - The company has complied with all provisions of the corporate governance code, except for the separation of the roles of Chairman and CEO[46] - The company has three independent non-executive directors providing independent opinions to ensure proper balance of power within the board[46] - The company has adopted the GEM Listing Rules regarding the trading of securities by directors[51] - The audit committee was established on February 23, 2017, in compliance with corporate governance codes and GEM listing rules[52] - The audit committee consists of three independent non-executive directors, with Mr. Zhao Zhirong serving as the chairman[52] - The audit committee reviewed the unaudited consolidated financial statements and confirmed compliance with applicable accounting standards and legal requirements[52] Other Information - Other income for the three months ended June 30, 2022, was approximately HKD 441,000, up from about HKD 10,000 in the previous year, mainly due to pandemic relief fund subsidies and foreign exchange gains[33] - The company did not declare any dividends for the three months ended June 30, 2022, consistent with the previous year[23] - The company aims to lead the temporary crane industry by providing high-quality equipment and services while seeking new business opportunities in Hong Kong's construction sector[28] - There were no purchases, sales, or redemptions of the company's listed securities during the three months ended June 30, 2022[50] - There are no known business interests or conflicts of interest that may compete with the company's operations as of June 30, 2022[49]
兴铭控股(08425) - 2023 Q1 - 季度财报