Financial Performance - Revenue for the three months ended June 30, 2023, was approximately HKD 56.9 million, an increase of about HKD 2.3 million or 4.2% compared to HKD 54.6 million for the same period in 2022[6] - The company recorded a net loss of approximately HKD 1.7 million, compared to a net profit of approximately HKD 4.1 million for the same period in 2022[6] - Gross profit for the three months ended June 30, 2023, was HKD 36.5 million, compared to HKD 34.5 million for the same period in 2022[7] - The company reported a loss attributable to owners of the company of HKD 1.7 million for the three months ended June 30, 2023, compared to a profit of HKD 4.1 million in the same period last year[19] - Basic and diluted loss per share for the period was HKD 0.17, compared to earnings of HKD 0.41 per share in the same period last year[7] - Overall gross margin increased from approximately 63.2% for the three months ended June 30, 2022, to approximately 64.1% for the same period in 2023, primarily due to menu price increases to offset rising food costs[26] Expenses and Costs - Employee costs increased to HKD 17.8 million from HKD 12.2 million year-on-year[7] - Cost of goods sold for the same period was approximately HKD 20.4 million, up 1.45% from HKD 20.1 million year-on-year[24] - Other income and gains decreased from approximately HKD 1.7 million for the three months ended June 30, 2022, to approximately HKD 24,000 for the same period in 2023, mainly due to a reduction in government subsidies[27] - Administrative expenses increased by approximately HKD 0.3 million or 6.4% from approximately HKD 4.7 million for the three months ended June 30, 2022, to approximately HKD 5.0 million for the same period in 2023[34] - Fuel and utility expenses increased from approximately HKD 1.3 million for the three months ended June 30, 2022, to approximately HKD 1.6 million for the same period in 2023[32] - Financing costs decreased from approximately HKD 1.0 million for the three months ended June 30, 2022, to approximately HKD 0.8 million for the same period in 2023[35] Dividends and Equity - The board of directors decided not to declare any dividends for the period[6] - The company did not declare any dividends for the three months ended June 30, 2023[19] - The total equity as of June 30, 2023, decreased to HKD 45.0 million from HKD 46.7 million as of April 1, 2023[8] Business Operations - The company continues to focus on providing dining services in Hong Kong[11] - The company plans to continue opening more restaurants in suitable areas and focus on providing diverse cuisine to enhance customer experience[20] - The company operates 11 restaurants in Hong Kong, offering various cuisines including Western and Japanese dishes[21] - The increase in revenue was attributed to a rise in customer numbers post-COVID-19 and the opening of a new restaurant under the "犇殿(TY)" brand in July 2022[23] - The company experienced some offsetting effects from the closure of two restaurants, "Marbling" and "葵芳MS," in January and May 2023, respectively[23] Corporate Governance - The board of directors confirmed compliance with the trading standards and the code of conduct for securities trading as of June 30, 2023[58] - The company has adopted and complied with all applicable corporate governance code provisions, except for the separation of roles between Chairman and CEO[59] - The audit committee has reviewed the unaudited consolidated financial statements for the three months ended June 30, 2023, and believes they are prepared in accordance with applicable accounting standards and GEM listing rules[63] Shareholding Structure - As of June 30, 2023, Future More holds 750,000,000 shares, representing 75% of the total issued shares of 1,000,000,000[50] - Mr. Kwan, Ms. Yip, Ms. Kwan, Mr. Kwan, and Ms. Kwan collectively own 75% of Future More's shares under a concert party agreement[51] - Mr. Kwan holds a 14% stake, Ms. Yip holds 18%, and both Ms. Kwan and Mr. Kwan hold 25% each in Future More[50] - No stock options have been granted under the stock option plan since its adoption on March 23, 2018[53] Significant Events - There were no significant acquisitions or disposals during the three months ended June 30, 2023[40] - No significant events affecting the group have occurred from June 30, 2023, to the report date[64] - The report is presented by the Chairman and Executive Director, Mr. Kwan Tai Wah, on August 10, 2023[65]
MS CONCEPT(08447) - 2024 Q1 - 季度财报