Financial Performance - The company's revenue for Q1 2023 was approximately HKD 16.7 million, a decrease of about 29.4% compared to HKD 23.7 million in Q1 2022[7] - The gross profit fell from approximately HKD 4.3 million in Q1 2022 to about HKD 2.4 million in Q1 2023, reflecting a consistent decline with revenue[7] - The net loss for Q1 2023 was approximately HKD 4.4 million, compared to a net loss of about HKD 3.7 million in Q1 2022[8] - Excluding one-off items, the operating loss for Q1 2023 was approximately HKD 5.6 million, compared to about HKD 4.5 million in Q1 2022[8] - The gross margin decreased from approximately 18.1% in Q1 2022 to about 14.2% in Q1 2023, primarily due to increased fixed costs from reduced production[17] - Total sales costs decreased from approximately HKD 19.4 million in Q1 2022 to about HKD 14.3 million in Q1 2023, aligning with the revenue decline[16] - Administrative and other expenses for Q1 2023 were approximately HKD 8.4 million, a decrease of about HKD 1.5 million or 14.7% compared to Q1 2022's HKD 9.9 million, primarily due to reduced employee costs[21] - The attributable loss and total comprehensive income for Q1 2023 was approximately HKD 4.4 million, compared to HKD 3.7 million in Q1 2022, with an operating loss of approximately HKD 5.6 million in Q1 2023 versus HKD 4.5 million in Q1 2022[22] - The company recorded a one-time loss of approximately HKD 0.2 million related to lease revisions in Q1 2023, compared to a gain of HKD 0.2 million in Q1 2022[22] - The company recognized a gain of approximately HKD 2.1 million from the sale of properties, plants, and equipment in Q1 2023, with no such gain reported in Q1 2022[22] Shareholder Information - The total number of shares held by major shareholders includes 354,659,000 shares (35.54%) held by New Metro, and 506,525,000 shares (50.75%) held collectively by certain individuals[31] - The company’s major shareholders include Mr. Lin Cheng Tai with 354,659,000 shares (35.54%) and Mr. Zhou Wenqiang with 41,366,000 shares (4.14%) as beneficial owners[26] - The company’s total issued share capital as of June 30, 2023, was approximately 1,000 million shares, with major shareholders holding significant stakes[31] - Major shareholders collectively hold 506,525,000 shares, representing approximately 50.75% of the total issued share capital as of June 30, 2023[33] - The company’s ultimate parent is New Metro Inc., which holds approximately 50.75% of the shares following a recent share issuance[49] Corporate Governance - The company has complied with all corporate governance codes as per GEM Listing Rules Appendix 15 for the three months ending June 30, 2023[36] - The company emphasizes high-quality board governance, internal controls, transparency, and accountability to protect shareholder interests[36] - The company has confirmed compliance with the trading code for directors as per GEM Listing Rules during the reporting period[37] - There are no known interests or short positions held by directors or major shareholders in any competing business as of June 30, 2023[41] Future Outlook and Strategy - Future outlook remains optimistic, with continued investments in technology, talent, and innovation to maintain competitive advantage[13] - The company’s operational strategies include potential market expansion and new product development, although specific details were not disclosed in the provided content[24] - The company continues to focus on its core business of general printing services and trading of printing products, with no new product launches or significant market expansions reported[51] Subscription and Capital Raising - The company completed a subscription agreement on May 3, 2023, for a total of 98,000,000 new ordinary shares at a subscription price of HKD 0.04 per share, raising approximately HKD 3.73 million net[40] - The net proceeds from the subscription will be used to repay current liabilities, including trade and other payables[40] - The subscription shares had a market value of approximately HKD 2.55 million based on the closing price of HKD 0.026 per share on the subscription agreement date[39] - The company issued new shares during the quarter, raising HKD 3,729,775 after deducting transaction costs[45] Tax and Compliance - The income tax expense for the period was HKD 67,412, down 82.3% from HKD 381,608 in the same period last year[58] - The audit committee has reviewed the unaudited financial statements and confirmed compliance with applicable accounting standards and GEM listing rules[42] Revenue Breakdown - For the three months ended June 30, 2023, the total revenue was HKD 16,704,306, a decrease of 29.4% compared to HKD 23,659,292 for the same period in 2022[55] - The revenue breakdown includes HKD 12,564,949 from offset printing, HKD 1,170,477 from digital printing, HKD 2,923,901 from inkjet printing, and HKD 44,979 from other services[55] - The company has no customers contributing more than 10% of total revenue, indicating a diversified customer base[55] - The company operates solely in Hong Kong, with all revenue derived from external customers located there[57] - The company has no non-current assets located outside of Hong Kong[57] Loss Per Share - Basic and diluted loss per share for the quarter was HKD 0.45, compared to HKD 0.41 for the same period last year[43] - There are no diluted potential ordinary shares issued, so the diluted loss per share is the same as the basic loss per share[61]
环球印馆(08448) - 2024 Q1 - 季度财报