Financial Performance - For the three months ended March 31, 2022, the company's revenue was HKD 113,966,000, a decrease of 1.15% from HKD 115,290,000 in the same period of 2021[5] - The company reported a net profit of HKD 4,455,000 for the first quarter of 2022, compared to HKD 1,055,000 in the same period of 2021, representing a significant increase of 322.5%[5] - Operating profit for the first quarter of 2022 was HKD 4,868,000, up from HKD 992,000 in the same period of 2021, indicating a substantial improvement in operational efficiency[5] - The basic and diluted earnings per share for the first quarter of 2022 were HKD 0.56, compared to HKD 0.13 in the same period of 2021, reflecting a strong growth in profitability[5] - Total comprehensive income for the period was HKD 4,063,000, compared to HKD 755,000 in the first quarter of 2021, showing a notable increase in overall financial performance[5] Operational Costs - Employee benefit expenses increased to HKD 108,347,000 in the first quarter of 2022 from HKD 95,586,000 in the same period of 2021, indicating rising operational costs[5] - The cost of cleaning materials rose from approximately HKD 1.5 million in Q1 2021 to approximately HKD 1.6 million in Q1 2022, primarily due to the termination of cleaning service outsourcing arrangements[26] - Other operating expenses increased from approximately HKD 3.4 million in Q1 2021 to approximately HKD 3.5 million in Q1 2022, driven by higher insurance and maintenance costs[27] Shareholder Information - As of March 31, 2022, the major shareholders include R5A Group Limited, holding 491,440,000 shares, representing approximately 61.43% of the company's issued share capital[32] - Ms. Tan Mu Jie and Mr. Wu Fu Hua each control 538,710,000 shares, accounting for 67.34% of the company's equity[31] - Mr. Wu Fu Hua is the beneficial owner of 47,270,000 shares, which is about 5.91% of the company's issued share capital[32] - Ms. Tan Mu Jie holds a beneficial interest of 55.23% in R5A Group Limited, which is the registered owner of the aforementioned shares[32] - As of March 31, 2022, there are no other individuals known to hold 5% or more of the voting shares in the company[36] Corporate Governance - The company has complied with all corporate governance codes as per GEM Listing Rules Appendix 15 without any deviations as of March 31, 2022[40] - The audit committee has reviewed the unaudited consolidated results for the three months ended March 31, 2022, and confirmed compliance with applicable accounting standards and GEM Listing Rules[45] Business Strategy - The company continues to focus on property management services for public housing and subsidized housing in Hong Kong, maintaining its core business strategy[8] - The outlook for the property management services business is optimistic, with expected growth in line with the development of the public housing market in Hong Kong[29] Stock Options - The company has a stock option plan adopted on October 24, 2017, aimed at incentivizing eligible participants contributing to the group's success[37] - A total of 32,000,000 stock options were granted to employees at an exercise price of HKD 0.177 per share on June 17, 2019[38] - The stock options granted will vest in two tranches, with 50% vesting on June 17, 2020, and the remaining 50% on June 17, 2021[38] - The stock option plan is valid for ten years from the date of listing, with a symbolic acceptance fee of HKD 1.00 for each option granted[37] Dividend Policy - The company did not recommend the payment of dividends for the three months ended March 31, 2022, consistent with the previous year[20] Other Information - The company did not incur subcontracting costs in the first quarter of 2022, compared to HKD 13,171,000 in the same period of 2021, suggesting a shift in operational strategy[5] - The company manages 20 public housing estates and 3 Home Ownership Scheme estates in Hong Kong as of March 31, 2022[22] - The financial results were prepared in accordance with the Hong Kong Financial Reporting Standards, ensuring compliance and transparency in financial reporting[9]
雅居投资控股(08426) - 2022 Q1 - 季度财报