Financial Performance - Revenue for the first quarter of 2023 was HKD 46,672,000, a decrease of 20.5% compared to HKD 58,683,000 in the same period of 2022[5] - Gross profit for the first quarter of 2023 was HKD 11,813,000, down 22.4% from HKD 15,250,000 year-on-year[5] - The net profit for the first quarter of 2023 was HKD 1,484,000, representing a decline of 29.7% compared to HKD 2,113,000 in the first quarter of 2022[5] - The company reported a basic earnings per share of HKD 0.21 for the first quarter of 2023, down from HKD 0.30 in the same quarter of 2022[7] - The total comprehensive income for the first quarter of 2023 was HKD 3,668,000, an increase of 15.8% from HKD 3,166,000 in the first quarter of 2022[7] - The company incurred selling and distribution expenses of HKD 2,621,000, a decrease of 41.3% from HKD 4,461,000 in the same period last year[5] - Administrative expenses for the first quarter of 2023 were HKD 6,853,000, down 8.2% from HKD 7,465,000 in the first quarter of 2022[5] - The income tax expense for the period was HKD 1.238 million, slightly up from HKD 1.231 million in the previous year[22] - The profit attributable to the company's owners for the period was approximately HKD 1.5 million, down from HKD 2.1 million for the same period last year[34] Revenue Breakdown - Revenue from bonding wires decreased by 13.2% to approximately HKD 25.5 million, while revenue from packaging adhesives decreased by 27.0% to approximately HKD 19.5 million[29] - The cost of sales decreased by 19.7% to approximately HKD 34.9 million, consistent with the revenue decline[31] - Gross profit decreased by 22.5% to approximately HKD 11.8 million, with a slight reduction in gross margin to approximately 25.3%[31] - Other income, including government subsidies and foreign exchange gains, amounted to approximately HKD 0.8 million, up from HKD 0.4 million in the previous year[32] Market and Product Development - The company continues to focus on developing advanced semiconductor materials for industries such as IGBT, mini-LED, artificial intelligence, and 5G[28] - The company anticipates a global semiconductor materials market growth rate of 6.3% in 2023, reaching a historical high of USD 485.8 billion[36] - Demand for semiconductor materials in China is expected to gradually recover due to government policies aimed at promoting economic growth[37] - The company plans to launch three new series of die attach adhesives, including epoxy insulation adhesive, silicone insulation adhesive, and conductive silver adhesive for LEDs[37] - A new copper alloy bonding wire for high-power integrated circuits and IGBT products has been developed and validated by top customers in China[37] - The company is focusing on developing upstream packaging materials for the 5G industry, which is expected to become another growth point[37] Shareholder Information - As of March 31, 2023, the company has issued share capital of HKD 7,055,000, divided into 705,500,000 shares with a par value of HKD 0.01 each[57] - Chows Investment Group Limited and Junma Technology Investment Holdings Limited each hold 50.60% of the company's shares, totaling 357,000,000 shares[53] - Ms. Chow Fung Wai Lan Rita holds a spouse interest in 357,510,000 shares, representing 50.67% of the issued share capital[53] - Mr. Ma Yamu holds a beneficial interest in 152,490,000 shares, which accounts for 21.61% of the issued share capital[53] - The company has not granted any stock options under its stock option plan since its adoption on May 8, 2018[59] - The maximum number of shares that can be granted under the stock option plan is capped at 10% of the shares issued at the time of listing, which is 68,000,000 shares, approximately 9.6% of the issued shares as of the report date[58] Corporate Governance - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and internal control processes[68] - The company has complied with the corporate governance code as stipulated in the GEM Listing Rules during the reporting period[62] - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the period[67] - The company has not identified any conflicts of interest involving its directors or controlling shareholders during the reporting period[60] Future Outlook - The company provided a forward guidance of 10% revenue growth for the next quarter, projecting revenue to reach HKD 165 million[70] - New product development initiatives are expected to launch two innovative semiconductor materials by Q3 2023, aiming to capture a larger market share[70] - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in sales from this region by the end of 2023[70] - A strategic acquisition of a smaller tech firm is in progress, which is anticipated to enhance the company's R&D capabilities and product offerings[70] - The company is investing HKD 20 million in new technology to enhance production efficiency over the next year[70] - Customer satisfaction ratings increased to 90%, indicating strong market acceptance of existing products[70] - The company is exploring partnerships with key industry players to leverage synergies and drive innovation[70]
骏码半导体(08490) - 2023 Q1 - 季度财报