Financial Performance - The company's revenue for the three months ended December 31, 2021, was HKD 285,000, a decrease of 94.2% compared to HKD 4,965,000 in the same period of 2020[5] - For the nine months ended December 31, 2021, the revenue was HKD 5,681,000, down 74.3% from HKD 22,176,000 in the previous year[5] - The gross profit for the three months ended December 31, 2021, was HKD 16,000, compared to HKD 284,000 in the same period of 2020, reflecting a significant decline[5] - The total comprehensive loss for the nine months ended December 31, 2021, was HKD 6,798,000, an improvement from a loss of HKD 13,471,000 in the same period of 2020[5] - The basic and diluted loss per share for the nine months ended December 31, 2021, was HKD 0.52, compared to HKD 1.04 in the same period of 2020[5] - The net loss for the nine months ended December 31, 2021, was approximately 6,800,000 HKD, a reduction from about 13,500,000 HKD for the same period in 2020[23] - The company recorded a basic and diluted loss per share of 5.23 HKD for the nine months ended December 31, 2021, compared to 10.37 HKD for the same period in 2020[21] Cost Management - Administrative expenses for the nine months ended December 31, 2021, were HKD 9,297,000, a decrease of 38.3% from HKD 15,047,000 in the previous year[5] - The company reported a financing cost of HKD 406,000 for the nine months ended December 31, 2021, down from HKD 2,173,000 in the same period of 2020[5] - The total labor cost for the nine months ended December 31, 2021, was 5,045,000 HKD, down from 9,807,000 HKD in the same period of 2020[4] - The service costs decreased by approximately 17,100,000 HKD or 85.7% to about 2,900,000 HKD for the nine months ended December 31, 2021, compared to approximately 20,000,000 HKD for the same period in 2020[30] - Administrative expenses decreased by approximately HKD 5,800,000 or 38% from about HKD 15,000,000 for the nine months ended December 31, 2020, to about HKD 9,300,000 for the nine months ended December 31, 2021[33] - Financing costs decreased by approximately HKD 1,800,000 or 81.3% from about HKD 2,200,000 for the nine months ended December 31, 2020, to about HKD 400,000 for the nine months ended December 31, 2021, mainly due to a decrease in average bank borrowings[35] Operational Challenges - The company faced significant challenges due to COVID-19, which impacted its operations and financial condition, leading to a substantial decline in revenue[23] - The company has implemented cost-cutting measures to minimize cash flow, payroll, and general expenses in response to the challenges posed by COVID-19[26] Business Strategy - The company plans to explore opportunities for business diversification and expansion in Hong Kong, Macau, and mainland China[26] - The company anticipates continued competition in project acquisition and will closely monitor project progress and costs to enhance competitiveness[24] Equity and Dividends - The total equity as of December 31, 2021, was HKD 40,700,000, a decrease from HKD 62,962,000 as of December 31, 2020[6] - The company did not declare or propose any dividends for the nine months ended December 31, 2021, consistent with the same period in 2020[20] - No dividends were declared or proposed for the nine months ended December 31, 2021, and December 31, 2020[39] Other Financial Information - The company has not adopted any new accounting standards that have not yet come into effect[10] - The company did not incur any taxable profits in Hong Kong and Macau, resulting in no income tax expenses for the periods ended December 31, 2021, and December 31, 2020[36] - The net proceeds from the IPO, amounting to approximately HKD 38,000,000, have been fully utilized as of December 31, 2021[50] - The company reported a total of HKD 38.0 million in net proceeds as of December 31, 2020, with HKD 22.5 million remaining unutilized[51] - The company allocated HKD 19.4 million to consolidate its industry position and expand its business[51] - HKD 7.6 million was used to repay bank loans, with an additional HKD 20.0 million available for future repayments[51] - The establishment of a Macau office/warehouse cost HKD 2.5 million, with HKD 2.3 million remaining unutilized[51] Corporate Governance - The company has adopted a code of conduct for directors regarding securities trading, with no violations reported during the reporting period[53] - The audit committee reviewed the unaudited consolidated results for the nine months ending December 31, 2021, and confirmed compliance with applicable accounting standards[58] - The company emphasizes the importance of good corporate governance for long-term success and has adhered to the GEM listing rules[54] - Management provided quarterly updates on the company's performance and financial status to the board, despite a temporary gap in monthly updates due to a change in the CFO[55] - The company expressed gratitude to customers, subcontractors, business partners, and shareholders for their continued support[59]
浩柏国际(08431) - 2022 Q3 - 季度财报