Financial Performance - The company's revenue for the three months ended June 30, 2023, was HKD 32,208,000, representing a 26.8% increase from HKD 25,437,000 in the same period of 2022[3] - Gross profit for the same period was HKD 12,772,000, up 77.5% from HKD 7,188,000 year-on-year[3] - Profit before tax for the three months was HKD 4,533,000, slightly up from HKD 4,521,000 in the previous year, indicating a marginal increase of 0.3%[3] - The net profit attributable to the owners of the company for the period was HKD 3,626,000, down 12.8% from HKD 4,159,000 in the same quarter of 2022[3] - Basic and diluted earnings per share for the period were HKD 0.96, compared to HKD 1.04 in the previous year, reflecting a decrease of 7.7%[3] - The total profit and comprehensive income for the three months ended June 30, 2023, decreased by approximately 12.8% to about HKD 3.6 million, compared to approximately HKD 4.2 million for the same period in 2022[34] Revenue Breakdown - Revenue from leasing and related services was HKD 31,923,000, a 32.8% increase from HKD 24,039,000 in the prior year[13] - Revenue from equipment and parts trading decreased to HKD 285,000 from HKD 1,398,000, a decline of 79.6%[13] - The company's revenue for the three months ended June 30, 2023, increased by approximately 26.6% to about HKD 32.2 million, compared to approximately HKD 25.4 million for the same period in 2022[27] Expenses and Costs - The company's administrative expenses increased significantly to HKD 8,753,000 from HKD 2,740,000, reflecting a rise of 219.5%[3] - The cost of sales and services for the three months ended June 30, 2023, was approximately HKD 19.4 million, an increase of about 6.5% from HKD 18.2 million in the same period in 2022[28] - Administrative expenses surged by approximately 219.5% to about HKD 8.8 million, primarily due to increased salaries and performance bonuses for directors[32] Shareholder Information - The company is approximately 31.9% owned by Xingji Limited, which is controlled by Mr. Deng Xingqiang (90% ownership) and Ms. Qu Fengyi (10% ownership) [38] - As of June 30, 2023, Xingji Limited holds 120,000,000 shares, representing 31.9% of the total issued shares, while Mr. Li Ruliang holds 98,524,000 shares, accounting for 26.2% [42] - The company did not declare any dividends for the three months ended June 30, 2023, consistent with the previous year[20] Compliance and Governance - The company has maintained compliance with all corporate governance code provisions as of June 30, 2023, except for the separation of the roles of chairman and CEO [43] - The audit committee was established on February 23, 2017, in compliance with corporate governance codes and GEM listing rules, consisting of three independent non-executive directors[52] - The audit committee reviewed the unaudited consolidated financial statements and confirmed compliance with applicable accounting standards and GEM listing rules[52] - The board of directors confirmed compliance with the trading regulations for securities during the three months ended June 30, 2023 [48] Future Outlook - The company is focused on expanding its equipment leasing services and exploring new business opportunities in the Hong Kong construction industry to create sustainable returns for shareholders[25] - The financial condition and operational performance of the company are subject to various risks and uncertainties [49] - The board is not aware of any significant events that occurred after June 30, 2023, that require disclosure [50] Other Information - The company has not granted any stock options since the adoption of its stock option plan in February 2017, and there are no unexercised stock options as of June 30, 2023 [44] - There were no purchases, sales, or redemptions of the company's listed securities during the three months ended June 30, 2023 [47] - The company has not identified any business or interests that may compete with its operations as of June 30, 2023 [46] - The company has a strong leadership structure with Mr. Deng Xingqiang serving as both chairman and CEO, which the board believes benefits the group's operations [43] - Other income for the three months ended June 30, 2023, was approximately HKD 891,000, compared to HKD 441,000 for the same period in 2022, mainly due to recovery of impairment losses[30] - Deferred tax expenses for the three months ended June 30, 2023, were HKD 907,000, compared to HKD 362,000 for the same period in 2022[5]
兴铭控股(08425) - 2024 Q1 - 季度财报