Financial Performance - The company recorded unaudited revenue of approximately HKD 19.8 million for the three months ended June 30, 2023, a decrease of about 45.2% compared to HKD 36.2 million for the same period in 2022[6]. - The company reported a loss attributable to owners of approximately HKD 4.9 million for the three months ended June 30, 2023, compared to a profit of HKD 32,000 for the same period in 2022[6]. - Gross profit for the three months ended June 30, 2023, was HKD 4.8 million, down from HKD 6.7 million in the same period of 2022[7]. - The total comprehensive loss attributable to owners for the three months ended June 30, 2023, was HKD 4.8 million, compared to a total comprehensive income of HKD 122,000 for the same period in 2022[7]. - The company reported a net loss before tax of HKD 4.1 million for the three months ended June 30, 2023, compared to a profit of HKD 63,000 for the same period in 2022[7]. - The basic and diluted loss per share for the three months ended June 30, 2023, was HKD 1.22, compared to earnings of HKD 0.01 per share in the same period of 2022[7]. - The company experienced a significant increase in administrative expenses, which rose to HKD 6.2 million for the three months ended June 30, 2023, from HKD 5.2 million in the same period of 2022[7]. - Other income decreased to HKD 47,000 for the three months ended June 30, 2023, down from HKD 582,000 in the same period of 2022[7]. - The financing costs for the three months ended June 30, 2023, totaled HKD 243,000, significantly higher than HKD 79,000 in the previous year[30]. - The gross profit for the same period decreased from approximately HKD 6.7 million in 2022 to approximately HKD 4.8 million in 2023, while the overall gross profit margin increased from 18.6% to 24.0%[40]. - The company reported other income of HKD 47,000 for the three months ended June 30, 2023, down from HKD 582,000 in the same period of 2022[25]. - The company experienced an increase in expected credit loss provisions for trade receivables, contributing to the overall decline in performance[41]. - The company anticipates significant challenges in performance due to economic recession risks and plans to adjust product mix and strengthen overall business development[62]. Revenue Sources - For the three months ended June 30, 2023, the company reported revenue from goods sold of HKD 19,842,000, a decrease of 45% compared to HKD 36,231,000 for the same period in 2022[18]. - Major customers contributing over 10% of total revenue included Customer B with HKD 5,137,000 and Customer C with HKD 4,444,000, while Customer A did not contribute in 2023[21]. - Revenue from the United States decreased to HKD 6,665,000 from HKD 14,362,000 year-over-year, representing a decline of 53.6%[23]. - The company’s revenue primarily comes from providing apparel supply chain management services, with a focus on casual and outdoor functional products[39]. - The company’s main customers are primarily apparel retail brands in Europe, the United States, and Australia[39]. Dividends and Shareholder Information - The board of directors did not recommend any dividend for the three months ended June 30, 2023, consistent with the previous year[6]. - The company did not recommend the payment of dividends for the three months ended June 30, 2023[61]. - As of June 30, 2023, Mr. Leung and Ms. Tam each hold 280,000,000 shares, representing approximately 70% of the company's total shares[63]. - The shares are registered under Giant Treasure, which is equally owned by Mr. Leung and Ms. Tam, each holding a 50% beneficial interest[66]. - The major shareholder, Giant Treasure, is recognized as a beneficial owner of 280,000,000 shares, equating to 70% ownership[66]. - No other directors or key executives held or were deemed to hold any interests in the company's shares or related securities as of June 30, 2023[65]. Corporate Governance - The board has adopted and complied with the corporate governance code as per GEM Listing Rules, except for a deviation regarding the separation of the roles of Chairman and CEO[72]. - The company has confirmed compliance with the required standards for director securities trading as per GEM Listing Rules[73]. - The Audit Committee has been established in accordance with GEM Listing Rules and consists of three independent non-executive directors[76]. - The Audit Committee reviewed the unaudited consolidated financial results for the three months ended June 30, 2023, and confirmed compliance with applicable accounting standards and GEM Listing Rules[76]. - The Chairman of the Audit Committee is Mr. Liu Youzhuan, who possesses appropriate professional qualifications[76]. - The executive directors include Mr. Liang Guoxiong and Ms. Tan Shufen, along with independent non-executive directors Ms. Zhang Huimin, Mr. Liu Youzhuan, and Mr. Li Guanting[78]. Operational Impact - The company’s operations were impacted by the cessation of COVID-19 related government subsidies from the Hong Kong SAR government[41]. - The company did not recognize any government grants in the current period, compared to HKD 523,000 in the previous year[25]. - The company did not purchase, sell, or redeem any of its listed securities during the three months ending June 30, 2023[70]. - No significant events occurred after June 30, 2023, that would materially affect the group's operations and financial performance[74]. - The company has not established any arrangements that would benefit directors or their close associates through the acquisition of shares or bonds of the company or any other entity[69]. - The company has not disclosed any interests or positions held by individuals that would require registration in the company's register as of June 30, 2023[68]. Sales Performance - The total sales volume for the three months ended June 30, 2023, was 193,446 units, down from 321,961 units in the same period in 2022[45]. - The sales of outerwear decreased significantly from 46,485 units in 2022 to 1,964 units in 2023, representing a decline of approximately 96.8%[46]. - Average selling price of jackets increased by 114.1% to HKD 368.6 compared to HKD 172.2 in the same period last year[47]. - Total sales cost decreased by approximately 48.9% from about HKD 29.5 million to about HKD 15.1 million due to a decline in total sales volume[51].
爱世纪集团(08507) - 2024 Q1 - 季度财报