Financial Performance - The company reported revenue of HKD 34,998,000 for the three months ended June 30, 2023, a decrease of 20.5% compared to HKD 44,011,000 in the same period of 2022[7]. - Gross profit for the same period was HKD 22,042,000, down 21.7% from HKD 28,126,000 year-over-year[7]. - The company achieved a profit before tax of HKD 4,151,000, which is a decline of 38.5% from HKD 6,747,000 in the previous year[7]. - Net profit for the period was HKD 3,500,000, representing a decrease of 32.2% compared to HKD 5,162,000 in the prior year[7]. - Basic earnings per share were HKD 0.31, down from HKD 0.46 in the same quarter of the previous year[7]. - The group's net profit decreased from approximately HKD 5,200,000 for the three months ended June 30, 2022, to approximately HKD 3,500,000 for the same period in 2023, a decline of about HKD 1,700,000 or approximately 32.2%[37]. - Basic earnings per share decreased from approximately HKD 0.46 to approximately HKD 0.31 for the three months ended June 30, 2023[38]. Expenses and Costs - Administrative and operating expenses increased to HKD 8,809,000 from HKD 8,035,000 year-over-year, reflecting a rise of 9.6%[7]. - The total employee benefits expense increased to HKD 8,562,000 from HKD 7,736,000, an increase of about 10.7%[19]. - Sales and distribution expenses for the three months ended June 30, 2023, remained relatively stable at approximately HKD 9,100,000 compared to the same period last year[32]. - Administrative and operating expenses increased by approximately HKD 800,000 to about HKD 8,800,000, representing a growth of approximately 9.6% due to increased salaries and allowances for administrative staff[34]. Revenue Sources - Retail store sales decreased from HKD 34,878,000 to HKD 27,396,000, a decline of approximately 21.5%[16]. - Online store sales fell from HKD 6,925,000 to HKD 5,753,000, a decrease of about 16.9%[16]. Dividends - The group did not declare any interim dividends for the three months ended June 30, 2023, consistent with the previous year[23]. - The company did not declare or pay any interim dividends for the three months ended June 30, 2023, similar to the previous year[41]. - The proposed final dividend for the year ending March 31, 2023, is HKD 0.8 per share, totaling approximately HKD 9,000,000, compared to HKD 0.6 per share and approximately HKD 6,700,000 in the previous year[41]. Market Focus and Strategy - The company continues to focus on multi-brand beauty and health product retailing in Hong Kong[11]. - The company aims to enhance competitiveness by expanding its sales network and enriching its product offerings[26]. - The group anticipates growth opportunities in the skincare and cosmetics market due to its comprehensive understanding of the market[26]. Compliance and Governance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with applicable disclosure requirements[12]. - The company has complied with the corporate governance code, except for a deviation regarding the separation of roles between the Chairman and CEO[57]. - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited quarterly results for the period ending June 30, 2023[60]. Shareholding and Capital Structure - As of June 30, 2023, Prime Era holds 542,000,000 shares, representing 48.39% of the company's equity[51]. - Ms. Xing Jiajue owns 244,530,000 shares, accounting for 21.83% of the company's equity[51]. - The company has not granted any stock options under its stock option plan since its adoption on January 23, 2018[52]. Other Financial Information - The effective tax rate for the three months ended June 30, 2023, was approximately 15.7%, down from 23.5% in the same period last year, primarily due to increased foreign exchange losses[36]. - There were no significant capital commitments as of June 30, 2023[43]. - The company did not acquire or dispose of any significant investments during the three months ended June 30, 2023[44]. - There were no significant contingent liabilities as of June 30, 2023[45]. - The company reported other income and losses of HKD 160,000, a significant improvement from a loss of HKD 4,066,000 in the previous year[7].
弥明生活百货(08473) - 2024 Q1 - 季度财报