Financial Performance - Revenue for the first quarter of 2023 was HKD 38,856,000, an increase of 16% compared to HKD 33,247,000 in the same period of 2022[5] - Gross profit for the first quarter was HKD 11,535,000, slightly down by 2% from HKD 11,786,000 year-on-year[5] - Profit before tax increased to HKD 2,316,000, up 12% from HKD 2,070,000 in the previous year[5] - Net profit for the period was HKD 1,664,000, representing a 13% increase from HKD 1,473,000 in the same quarter of 2022[5] - Basic earnings per share rose to HKD 0.42, compared to HKD 0.39 in the first quarter of 2022[5] - Total comprehensive income for the period was HKD 1,675,000, up from HKD 1,473,000 year-on-year[5] Expenses and Costs - The company reported a financing cost of HKD 2,209,000, which increased significantly from HKD 787,000 in the previous year[5] - Administrative expenses decreased to HKD 4,825,000 from HKD 5,539,000, reflecting a reduction of 13%[5] - Sales and distribution expenses were reduced to HKD 2,321,000, down from HKD 3,814,000, indicating a 39% decrease[5] - The cost of sales increased by approximately 27.3% from about HKD 21.5 million in Q2 2022 to about HKD 27.3 million in Q2 2023, directly related to the increase in revenue[32] - Financing costs rose to HKD 2,209 thousand in Q2 2023 from HKD 787 thousand in Q2 2022, primarily due to increased bank borrowings[21] - Other income decreased significantly from HKD 268 thousand in Q2 2022 to HKD 14 thousand in Q2 2023, primarily due to the absence of government grants[17] Shareholder Information - The company’s total equity as of June 30, 2023, was HKD 264,979,000, compared to HKD 246,948,000 as of June 30, 2022[6] - As of June 30, 2023, the major shareholders collectively hold 70% of the company's equity[45] - As of June 30, 2023, the company has issued a total of 400,000,000 shares, with Shirz Limited and Mr. Ding Zhiwei collectively holding 280,000,000 shares, representing 70% ownership[53] Business Development - The company is actively exploring new business opportunities, including promotional and marketing services for wine brands and products[30] - The company has developed its own brand of alcoholic beverages, enhancing its product portfolio[30] - The company is exploring opportunities to provide marketing consultancy services to assist Chinese liquor brands in entering the Hong Kong and other markets, aiming to diversify revenue sources[49] - The company has secured a financing letter for up to HKD 63 million to support future expansion and operations[44] Compliance and Governance - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated results for the period and confirmed compliance with applicable accounting standards[68] - The company did not declare any dividends for the current period, consistent with the previous year[28] - The company does not recommend any dividend payment for the current period[42] Stock and Financing - The financing agreement established on November 26, 2021, includes trade financing of HKD 48,000,000, a term loan of HKD 20,000,000, and an overdraft facility of HKD 3,000,000[55] - The company has a stock option plan that allows for the issuance of up to 40,000,000 shares, which constitutes 10% of the total issued share capital as of the report date[59] - The company and its subsidiaries did not purchase, sell, or redeem any listed securities during the reporting period[61]
威扬酒业控股(08509) - 2024 Q1 - 季度财报