Financial Performance - The Group recorded an unaudited revenue of approximately HK$14.0 million for the three months ended 31 March 2023, representing an increase of approximately 510.7% compared to HK$2.3 million for the same period in 2022[9]. - The Group's unaudited loss for the period was approximately HK$2.8 million, a significant reduction from a loss of approximately HK$8.8 million for the three months ended 31 March 2022, reflecting a decrease of 67.8%[9]. - Gross profit for the period was approximately HK$3.6 million, compared to a gross loss of HK$4.8 million in the same period last year, indicating a turnaround in profitability[8]. - Loss per share improved to HK$0.21 from HK$1.09, marking an 80.7% reduction in loss per share[8]. - The total comprehensive expense for the period was approximately HK$2.8 million, down from HK$8.8 million in the same period last year[13]. - The Group reported a loss of HK$1,664,000 for the period ended March 31, 2023, compared to a loss of HK$8,742,000 for the same period in 2022, indicating an improvement in financial performance[35]. - The loss attributable to owners of the Company for the three months ended 31 March 2023 was HK$1.66 million, compared to a loss of HK$8.74 million in the same period of 2022[45]. - The Group's loss for the three months ended 31 March 2023 was approximately HK$2.8 million, a decrease from a loss of approximately HK$8.8 million for the same period in 2022, representing a reduction of about 68.2%[80][83]. - Revenue for the three months ended 31 March 2023 increased by HK$11.7 million compared to the same period in 2022, indicating a positive growth trend despite the overall loss[81][83]. Revenue Breakdown - Revenue from visual display solution services increased significantly to HK$11,816,000 for the three months ended March 31, 2023, compared to HK$2,160,000 for the same period in 2022, representing a growth of 448%[35]. - Revenue from information technology consulting services was HK$2,027,000 for the three months ended March 31, 2023, with no revenue reported for the same period in 2022[35]. - Total revenue for the Group for the three months ended March 31, 2023, was HK$13,961,000, a substantial increase from HK$2,286,000 in the prior year, marking an increase of 509%[35]. - Approximately 85% of the Group's total revenue during the three months ended 31 March 2023 came from visual display solutions, compared to 94% in the same period of 2022[58]. - Revenue from information technology consulting services amounted to approximately HK$2.0 million, representing 14% of the Group's total revenue for the three months ended 31 March 2023[51]. - Revenue from pop concerts increased significantly, with the average revenue per show rising from approximately HK$28,000 in Q1 2022 to approximately HK$163,000 in Q1 2023, and the number of shows increasing from 30 to 65[61][62]. - The total revenue from other live events in Q1 2023 was HK$1.236 million, with an average revenue per show of HK$24, compared to HK$1.334 million and HK$5 in Q1 2022[69]. Expenses and Costs - Administrative expenses increased to HK$6.8 million from HK$4.3 million, reflecting a rise of 59.0% year-on-year[12]. - The Group's operating loss decreased to HK$2.7 million from HK$8.7 million, showing a significant improvement in operational efficiency[12]. - The Group's financial costs increased slightly to HK$0.15 million from HK$0.11 million, reflecting a rise of 34.0%[12]. - Total staff costs for the three months ended 31 March 2023 amounted to approximately HK$6.1 million, up from approximately HK$2.4 million for the same period in 2022, reflecting an increase in workforce and associated costs[101][102]. Equity and Assets - As of March 31, 2023, the accumulated losses increased to HK$16,888,000 from HK$15,228,000 at the beginning of the year[35]. - The Group's total equity as of March 31, 2023, was HK$217,902,000, down from HK$220,730,000 at the beginning of the year[35]. - As of 31 March 2023, the Group recorded net current assets of approximately HK$116.4 million, a significant improvement from net current liabilities of approximately HK$23.1 million as of 31 March 2022[85][89]. - The current ratio improved to approximately 2.07 as of 31 March 2023, compared to approximately 0.36 as of 31 March 2022, reflecting enhanced liquidity[86][89]. - The Group's gearing ratio decreased to approximately 21.7% as of 31 March 2023 from approximately 39.1% as of 31 March 2022, indicating a stronger equity position[86][89]. Dividends and Taxation - The Board does not recommend the payment of dividends for the three months ended 31 March 2023[9]. - The Group's effective income tax for the three months ended 31 March 2023 was nil, as it did not generate any estimated assessable profit[38]. - There was no effective income tax for the Group for the three months ended 31 March 2023 and 31 March 2022, as the Group did not generate any assessable profits[79][82]. Corporate Governance and Compliance - The company has established an Audit Committee responsible for reviewing financial reports and supervising the financial reporting process[109]. - The Audit Committee reviewed the unaudited condensed consolidated results of the group for the three months ended March 31, 2023, and the effectiveness of the internal control system[113]. - The company confirmed that all Directors complied with the required standards of dealings regarding securities transactions during the three months ended March 31, 2023[116]. - The company has complied with the corporate governance code provisions during the three months ended March 31, 2023[132]. - The company maintains a high level of transparency and communicates regularly with shareholders through various reports and meetings[137]. Future Outlook - The Group plans to make steady progress in accordance with its business plans and operational conditions to effectively implement business objectives and generate benefits[138]. - The Group will actively explore investment opportunities related to visual display technology and other information technology to diversify its business scope and create long-term value for shareholders[138].
耀星科技集团(08446) - 2023 Q3 - 季度财报