Financial Performance - For the three months ended November 30, 2022, KGroup reported revenue of HKD 2,089,000, a decrease of 33.3% compared to HKD 3,127,000 for the same period last year[5]. - Other income for the same period was HKD 94,000, down 86.4% from HKD 691,000 year-on-year[5]. - The group incurred a loss before tax of HKD 710,000, compared to a profit of HKD 44,000 in the previous year, marking a significant decline[5]. - The net loss attributable to equity holders of the parent for the period was HKD 710,000, compared to a profit of HKD 61,000 in the same period last year[5]. - Basic and diluted loss per share for the period was HKD 1.53, compared to earnings of HKD 0.13 per share in the previous year[5]. - Total comprehensive loss for the period was HKD 697,000, compared to a comprehensive income of HKD 60,000 in the prior year[6]. - The group’s accumulated losses increased to HKD 23,358,000 as of November 30, 2022, from HKD 22,687,000 at the beginning of the period[8]. - The group reported a foreign exchange gain of HKD 13,000 from the translation of overseas operations during the period[6]. Revenue Breakdown - Restaurant operations revenue for the three months ended November 30, 2022, was 2,069 thousand SGD, a decrease of 33.7% from 3,122 thousand SGD in the same period of 2021[17]. - Total revenue for the group for the three months ended November 30, 2022, was 2,089 thousand SGD, down 33.3% from 3,127 thousand SGD in the previous year[17]. - Other income for the three months ended November 30, 2022, was 94 thousand SGD, significantly lower than 691 thousand SGD in the same period of 2021, primarily due to the absence of government support programs[21]. - The group reported a pre-tax loss of 671 thousand SGD for the three months ended November 30, 2022, compared to a profit of 55 thousand SGD in the same period of 2021[29]. - Revenue from restaurant operations decreased by approximately 32.3%, from about 3.1 million SGD in the previous period to about 2.1 million SGD in the current period[37]. - Revenue from the sale of food ingredients increased by approximately 13,000 SGD due to higher food service revenue from Gangnam Kitchen[39]. - The company experienced a 100% decrease in revenue from franchise and patent services, dropping from about 4,000 SGD in the previous period to zero in the current period due to the impact of COVID-19[40]. Operational Insights - The group has a total of 8 self-operated restaurants and 1 central kitchen, focusing on the mid-market segment in Singapore and Indonesia[31]. - The company continues to engage in restaurant operations, food sales, and franchising services as part of its core business activities[13]. - The company opened a total of 8 new restaurants in Singapore under various brands, including "Chir Chir," "Masizzim," "Kogane Yama," "Nipong Naepong," "Kota Zheng Zhong," "The Chir Café and Bar," and "Gangnam Kitchen"[33]. - The management believes the group has competitive advantages such as strong franchise brand selection and strategic restaurant locations to drive future growth[32]. - The company plans to expand its restaurant network to other Southeast Asian countries and aims to become a leading restaurant operator in Singapore[34]. - The company intends to continue developing its business by acquiring new franchise brands and opening restaurants outside central Singapore[34]. Cost Management - Employee costs decreased by approximately 8.3%, from about 1.2 million SGD in the previous period to about 1.1 million SGD in the current period, due to salary cuts and layoffs[43]. - Rental and related expenses increased by approximately 145,000 SGD, from about 183,000 SGD in the previous period to 328,000 SGD in the current period, mainly due to increased office rent[44]. - The group incurred financial costs of 112 thousand SGD for the three months ended November 30, 2022, down from 215 thousand SGD in the same period of 2021[23]. - Financial costs decreased by approximately 47.9%, from about 215,000 SGD in the previous period to about 112,000 SGD in the current period, mainly due to a reduction in lease liabilities[46]. Shareholder Information - As of November 30, 2022, the company has a total of 440,000,000 shares issued, with key stakeholders holding significant shares, including Mr. Ye with 30,499,000 shares, representing approximately 6.93%[52]. - Canola, a related entity, holds 30,499,000 shares, also accounting for approximately 6.93% of the total issued shares[57]. - The company has a diverse shareholder base, with multiple individuals holding 6.93% of the issued shares through joint ownership arrangements[59]. - Mr. Peh holds 40% of Kogane Yama Restaurants Pte. Ltd., while Jaesan Food Holdings owns 40% of K Food Master Holdings Sdn. Bhd.[60]. Governance and Compliance - The company has adopted and complied with the corporate governance code as per GEM Listing Rules Appendix 15 throughout the period[67]. - The audit committee, established on July 23, 2018, consists of three independent non-executive directors and has reviewed the unaudited condensed consolidated financial statements[70]. - The board of directors has confirmed compliance with the trading rules for securities transactions throughout the period[65]. - There were no competitive business interests held by directors or controlling shareholders during the period that could conflict with the group's business[68]. - The company has not disclosed any new product developments or technological advancements in the current reporting period[58]. - There are no significant changes in the governance structure or additional strategies announced during this reporting period[56]. - The company has not reported any market expansion or acquisition activities in the latest quarter[58]. - No significant events requiring disclosure have occurred from November 30, 2022, to the report date[69]. Future Outlook - Future outlook and performance guidance have not been explicitly stated in the current financial disclosures[58]. - The company has not granted or agreed to grant any share options under the share option scheme since its adoption on July 23, 2018, and there are no unexercised options as of November 30, 2022[63]. - The company has not repurchased any of its listed securities during the reporting period, nor have any subsidiaries engaged in buying or selling such securities[62]. - There were no arrangements made during the period for directors or their associates to benefit from acquiring shares or debentures of the company or any other corporation[64]. - The company expresses gratitude to shareholders, business partners, and customers for their continued support during the period[72].
易站绿色科技(08475) - 2023 Q1 - 季度财报