Financial Performance - For the three months ended June 30, 2023, the group's revenue was HKD 24,436,000, a decrease of 30.2% compared to HKD 34,929,000 for the same period in 2022[5] - The gross profit for the same period was HKD 4,964,000, down 43.5% from HKD 8,769,000 in the previous year[5] - The operating loss for the three months was HKD 4,203,000, compared to an operating profit of HKD 1,774,000 in the prior year[5] - The net loss attributable to owners of the company for the period was HKD 4,313,000, compared to a profit of HKD 1,547,000 in the same period last year[5] - The basic and diluted loss per share for the period was HKD 0.54, compared to earnings of HKD 0.19 per share in the previous year[7] - The total comprehensive loss for the period was HKD 4,315,000, compared to a total comprehensive income of HKD 1,552,000 in the same period last year[7] - The group's total equity as of June 30, 2023, was HKD 16,382,000, a decrease from HKD 40,154,000 as of June 30, 2022[9] Revenue Breakdown - Revenue from residential interior design and renovation services accounted for approximately HKD 22.6 million, representing 92.5% of total revenue for Q2 2023, down from 98.6% in Q2 2022[32] - The company's revenue from commercial interior design and renovation services was approximately HKD 1.8 million, representing 7.5% of total revenue for Q2 2023, compared to HKD 0.5 million or 1.4% in Q2 2022[32] - The group's revenue decreased by approximately 30.0% from HKD 34.9 million for the three months ended June 30, 2022, to HKD 24.4 million for the three months ended June 30, 2023, primarily due to competitive pricing strategies[37] Expenses and Costs - Administrative and other operating expenses increased to HKD 9,556,000 from HKD 7,881,000, reflecting a rise of 21.2%[5] - Direct costs reduced by approximately 25.6% from HKD 26.2 million to HKD 19.5 million during the same period, mainly due to the decrease in revenue[38] - Gross profit fell by approximately 43.4% from HKD 8.8 million to HKD 5.0 million, with a gross profit margin of 20.3%, down from 25.2%, reflecting the impact of competitive pricing[39] - Administrative and other operating expenses increased by approximately 21.3% from HKD 7.9 million to HKD 9.6 million, primarily due to higher advertising and promotional costs[41] Dividends and Income - The company did not declare any dividends for the three months ended June 30, 2023, consistent with the previous year[30] - The company’s interest income for the three months ended June 30, 2023, was HKD 12, slightly up from HKD 11 in the same period of 2022[21] - The company recognized government grants related to the COVID-19 employment support scheme amounting to approximately HKD 512,000 in the previous year, which was not present in the current reporting period[21] Future Outlook and Strategy - The company anticipates increased overall demand for its services in the long term as public affordability for housing improves[35] - The company plans to enhance its marketing strategies to increase brand awareness in the renovation and interior design market[35] - The board remains cautious about business expansion due to the uncertain property market conditions in Hong Kong[35] - The company aims to expand its business coverage in Hong Kong to reach more potential customers[35] Corporate Governance and Compliance - The company has adopted sound corporate governance principles, emphasizing an excellent board, effective internal controls, and rigorous disclosure practices[68] - The audit committee, established on March 24, 2017, consists of independent non-executive directors and is responsible for reviewing financial data and internal control systems[70] - The unaudited condensed consolidated financial statements for the three months ended June 30, 2023, have been reviewed by the audit committee and comply with applicable accounting standards and GEM listing rules[70] Shareholder and Securities Information - No purchase, sale, or redemption of the company's listed securities occurred during the three months ended June 30, 2023[53] - No competition or potential conflict of interest was reported among directors, major shareholders, or their associates during the three months ended June 30, 2023[54] - The company has a non-competition agreement in place to prevent any potential competition with its major shareholders, effective since March 24, 2017[55] - No new business opportunities that may compete with the group's existing or future business were reported from major shareholders during the three months ended June 30, 2023[57] - All directors confirmed compliance with the GEM Listing Rules regarding securities transactions during the three months ended June 30, 2023[58] - The company has a stock option plan that allows for the issuance of up to 80,000,000 shares, representing 10% of the total issued shares as of the date of listing[61] - The stock option plan is valid for ten years from March 24, 2017, with no options granted, exercised, expired, or lapsed during the three months ended June 30, 2023[66]
礼建德集团(08455) - 2024 Q1 - 季度财报