Financial Performance - The group reported revenue of HKD 6,953,000 for the three months ended June 30, 2023, a decrease of 8.7% compared to HKD 7,618,000 in the same period of 2022[4]. - Gross profit for the same period was HKD 1,419,000, down 57.5% from HKD 3,327,000 year-over-year[4]. - The group achieved a profit before tax of HKD 1,540,000, compared to a loss of HKD 819,000 in the previous year[4]. - Basic and diluted earnings per share were HKD 0.08, a recovery from a loss of HKD 0.05 per share in the prior year[4]. - The total comprehensive income for the period was HKD 1,540,000, a significant turnaround from a loss of HKD 819,000 in the previous year[4]. - The group recorded a profit of HKD 1,466,000 for the three months ended June 30, 2023, compared to a loss of HKD 819,000 in the same period of 2022[21]. - The net profit for the three months ended June 30, 2023, was approximately HKD 1,540,000, compared to a net loss of approximately HKD 820,000 for the same period in 2022[35]. Revenue Sources - The construction management services in Hong Kong generated revenue of HKD 4,435,000, up 33.2% from HKD 3,332,000 in 2022, while revenue from mainland China decreased by 41.2% to HKD 2,518,000 from HKD 4,286,000[15]. - Other income increased to HKD 1,990,000, compared to no other income reported in the same period last year[4]. - Other income related to policy refunds amounted to HKD 1,900,000 for the three months ended June 30, 2023[31]. Expenses and Costs - Administrative expenses decreased to HKD 1,818,000 from HKD 4,060,000, reflecting a reduction of 55.2%[4]. - Service costs increased by approximately HKD 1,200,000 or 28.97% to about HKD 5,500,000 for the three months ended June 30, 2023, from approximately HKD 4,300,000 for the same period in 2022[28]. - Gross margin fell from approximately 43.67% for the three months ended June 30, 2022, to about 20.41% for the same period in 2023[30]. - Financing costs decreased by approximately HKD 30,000 or 40.70% to about HKD 50,000 for the three months ended June 30, 2023, from approximately HKD 80,000 for the same period in 2022[33]. Equity and Financing - The group’s total equity as of June 30, 2023, was HKD 2,284,000, up from HKD 886,000 at the beginning of the period[5]. - The company issued new shares worth HKD 2,600,000 during the quarter, contributing to the increase in total equity[5]. - The company plans to raise up to HKD 19,534,000 through a rights issue at a subscription price of HKD 0.20 per share, issuing a maximum of 97,670,000 shares[5]. - The group is in discussions with banks for the renewal of financing arrangements, with no indication of banks withdrawing financing or demanding early repayment[5]. Operational Challenges and Strategies - The group continues to face challenges such as high labor costs and skilled labor shortages, which may impact financial performance in the next nine months[23]. - The company is committed to improving operational efficiency and cash flow by tightening cost controls on certain operating expenses[5]. - The group will continue to monitor and manage its operating expenses closely to enhance cash flow and operational performance[5]. - The group is actively seeking potential business and investment opportunities to expand its revenue sources, particularly in the Greater Bay Area[24]. Corporate Governance - The company emphasizes the importance of sound corporate governance for long-term success and has adhered to the corporate governance code during the reporting period[50]. - The audit committee has reviewed the unaudited consolidated results for the three months ended June 30, 2023, and confirmed compliance with applicable accounting standards and GEM listing rules[53]. - The company has adopted a code of conduct for securities trading by directors, with no violations reported during the reporting period[49]. Miscellaneous - The board has not declared any dividends for the three months ended June 30, 2023, consistent with the same period in 2022[20]. - No significant contingent liabilities were reported as of June 30, 2023[37]. - The company has not purchased, sold, or redeemed any of its listed securities during the three months ended June 30, 2023[48]. - No business or interests of directors or controlling shareholders were reported to be in competition with the company during the three months ended June 30, 2023[51]. - The company acknowledges the support of customers, contractors, business partners, and shareholders in its development[54]. - The executive directors as of the report date include Mr. Wang Lun, Mr. Shu Zhongwen, Ms. Wang Yonghong, Mr. Wu Yunle, and Mr. Wang Xingliang[55].
浩柏国际(08431) - 2024 Q1 - 季度财报