Financial Performance - The company's revenue for Q1 2022 was approximately HKD 23.7 million, a decrease of about 4.0% from HKD 24.7 million in Q1 2021[5] - Gross profit decreased from approximately HKD 4.9 million in Q1 2021 to approximately HKD 4.3 million in Q1 2022, with a gross margin of 18.1% compared to 19.9% in the previous year[14] - The company recorded a loss attributable to owners of approximately HKD 3.7 million in Q1 2022, compared to a loss of approximately HKD 1.9 million in Q1 2021[10] - The total revenue decline was mainly attributed to the fifth wave of COVID-19 in Hong Kong, which affected customer business activities[13] - The company reported revenue of HKD 23,659,292 for the three months ended June 30, 2022, a decrease of approximately 4.03% compared to HKD 24,653,996 in the same period of 2021[39] - Gross profit for the same period was HKD 4,284,467, down from HKD 4,898,621, reflecting a decline of about 12.55%[39] - Operating loss increased to HKD 3,165,032 compared to a loss of HKD 1,567,473 in the prior year, indicating a deterioration in operational performance[39] - The company incurred a pre-tax loss of HKD 3,315,953, compared to a pre-tax loss of HKD 1,783,745 in the previous year, representing an increase of approximately 85.58%[39] - Total comprehensive loss attributable to owners of the company was HKD 3,697,561, compared to HKD 1,922,292 in the same period last year, marking an increase of about 92.36%[39] - Basic and diluted loss per share was HKD 0.41, compared to HKD 0.21 in the prior year, reflecting a significant increase in losses per share[39] - For the three months ended June 30, 2022, the company reported a total loss of HKD 3,697,561, compared to a loss of HKD 1,922,292 for the same period in 2021, indicating an increase in losses of approximately 92.5% year-over-year[41] - The basic loss per share for the period was HKD 0.0041, compared to HKD 0.0021 for the same period in 2021, representing an increase of approximately 95.2%[55] Expenses and Income - Other income in Q1 2022 included government subsidies of approximately HKD 1.9 million, which were not present in Q1 2021[15] - Selling and administrative expenses increased to approximately HKD 9.9 million in Q1 2022 from approximately HKD 7.0 million in Q1 2021, primarily due to increased legal and professional fees related to a mandatory cash offer[18] - Other income rose significantly to HKD 2,199,514 from HKD 280,941, indicating a substantial increase in non-operational revenue sources[39] - Sales and administrative expenses increased to HKD 9,878,116 from HKD 6,976,190, representing an increase of approximately 41.06%[39] Dividends and Shareholding - The company will not declare any dividends for Q1 2022, consistent with Q1 2021[7] - The board of directors did not recommend any dividend for Q1 2022, consistent with Q1 2021[20] - Major shareholders collectively hold approximately 56.28% of the company's issued share capital[26] - Mr. Lin Cheng Tai holds 354,659,000 shares, representing approximately 39.40% of the company's issued share capital[27] - Mr. Zhou Wenqiang holds 41,366,000 shares, representing approximately 4.60% of the company's issued share capital[24] - Mr. Xu Qingnai holds 110,500,000 shares, representing approximately 12.28% of the company's issued share capital[24] Market Conditions and Future Plans - The ongoing COVID-19 pandemic has significantly impacted the demand for printing services, leading to reduced market activities[6] - The company is exploring horizontal expansion and service diversification opportunities to increase market share and enhance brand reputation[11] - The company plans to take actions to maintain profitability and competitiveness in the market amid ongoing uncertainties related to the pandemic[6] Compliance and Governance - The board of directors confirmed compliance with the GEM Listing Rules and corporate governance codes during the reporting period[32] - The company has not disclosed any new product or technology developments in the current report[19] - There are no updates on market expansion or mergers and acquisitions in the current report[19] Assets and Revenue Recognition - The company’s non-current assets are located in Hong Kong, and all revenue is derived from external customers in Hong Kong[52] - The company has adopted the practical expedient under HKFRS 15 for revenue recognition, which does not require the disclosure of remaining performance obligations for sales of goods contracts[50] - The company's total equity as of June 30, 2022, was HKD 16,124,428, down from HKD 24,268,754 as of June 30, 2021, reflecting a decrease of about 33.5%[41] - The revenue breakdown for the three months ended June 30, 2022, included HKD 18,613,051 from offset printing, HKD 1,571,795 from digital printing, and HKD 3,221,125 from inkjet printing[50] Share Options - The company has not issued, exercised, or cancelled any share options under the share option scheme since its adoption on February 26, 2018[31] Financial Statements Approval - The company’s management has approved the unaudited financial statements for publication on August 9, 2022[45]
环球印馆(08448) - 2023 Q1 - 季度财报