Financial Performance - Revenue for Q1 2023 was HKD 147,141,000, a decrease of 5.3% compared to HKD 155,282,000 in Q1 2022[6] - Gross profit increased to HKD 53,471,000, up 21.4% from HKD 44,059,000 in the same period last year[6] - Profit attributable to owners of the company for Q1 2023 was HKD 19,787,000, representing a 9.8% increase from HKD 18,017,000 in Q1 2022[6] - Basic and diluted earnings per share for Q1 2023 were HKD 1.8, compared to HKD 1.64 in Q1 2022, reflecting a growth of 9.8%[6] - Total comprehensive income for Q1 2023 was HKD 19,824,000, compared to HKD 17,917,000 in Q1 2022, indicating a growth of 10.1%[6] - The gross profit for the same period was approximately HKD 53.5 million, an increase of about HKD 9.4 million or 21.3% from HKD 44.1 million in 2022, with a gross margin rising to approximately 36.3% from 28.4%[46] - The net profit for the three months ended March 31, 2023, was approximately HKD 19.8 million, an increase of about HKD 1.8 million or 10.0% compared to HKD 18.0 million in the same period of 2022[51] Expenses - Administrative expenses rose to HKD 21,023,000, an increase of 53.3% from HKD 13,713,000 in Q1 2022[6] - Employee benefits expenses totaled HKD 14,920,000, a decrease of 14.0% from HKD 17,360,000 in the previous year[34] - Sales and distribution expenses decreased to approximately HKD 5.4 million, a reduction of about HKD 1.1 million or 16.9% from HKD 6.5 million in 2022[48] - Income tax expense for the first quarter was HKD 4,472,000, up 15.6% from HKD 3,869,000 in the same period last year[32] - Financing costs rose to HKD 2,128,000, an increase of 67.0% from HKD 1,274,000 in the first quarter of 2022[30] Revenue Sources - Total revenue for the first quarter of 2023 was HKD 147,141,000, a decrease of 5.3% compared to HKD 155,282,000 in the same period of 2022[16] - Sales of scented candles decreased to HKD 110,228,000, down 6.6% from HKD 118,206,000 year-over-year[16] - Revenue from the US market increased to HKD 142,331,000, up 14.1% from HKD 124,730,000 in the previous year[24] - Other income for the first quarter was HKD 671,000, compared to HKD 348,000 in the same period last year, representing an increase of 92.5%[26] Corporate Governance - The company has complied with the corporate governance code as per GEM listing rules as of March 31, 2023[73] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated results for the three months ended March 31, 2023, and confirmed compliance with applicable accounting standards and GEM listing rules[74] - The company is committed to high levels of corporate governance to protect shareholder interests and enhance corporate value[73] - The company has not identified any violations of the prescribed trading standards by its directors as of March 31, 2023[71] Shareholder Information - As of March 31, 2023, the company has a significant shareholder, AVW International Limited, holding 643,500,000 shares, representing 58.5% of the issued shares[56] - The company has no arrangements that allow directors to acquire shares or debentures of the company or any other corporate body as of March 31, 2023[58] - There are no significant contracts in which directors or their close associates have a material interest as of March 31, 2023[59] - Other than the disclosed interests, there are no individuals or entities holding shares or related interests that require disclosure under the Securities and Futures Ordinance as of March 31, 2023[63] - The company has no additional disclosures regarding the interests of directors and senior management in shares or related interests as of March 31, 2023[57] - The company has no significant changes in the ownership structure of shares as of March 31, 2023[60] Share Option Scheme - The company has adopted a share option scheme on June 23, 2018, allowing the issuance of shares up to a maximum of 30% of the total issued shares[64] - The share option scheme restricts the total number of shares issued to any participant within a 12-month period to not exceed 1% of the issued shares[64] - The maximum number of shares that can be issued upon the exercise of all options granted under the share option plan and any other share option plans of the group shall not exceed 110,000,000 shares, representing 10% of the total number of shares issued as of July 19, 2018, and the report date[65] - The share option plan is effective for a period of 10 years starting from June 23, 2018, and will expire on June 23, 2028[67] - The exercise price for each option granted shall be determined by the board, but must be at least the higher of the closing price on the date of the offer, the average closing price for the five trading days preceding the offer, or the par value of the shares[68] - The company seeks shareholder approval to update the 10% limit under the share option plan, excluding options that have lapsed[65] Business Operations - The company continues to focus on the manufacturing and sales of candle products, with plans for market expansion and new product development[8] - The company operates primarily in Hong Kong and Vietnam, focusing on sales to department stores and procurement agents in the US and UK markets[21] - The company has short-term contracts with external customers, with fixed pricing agreements[17] - The company has not made any significant investments, acquisitions, or disposals of subsidiaries or capital assets during the three months ended March 31, 2023[52] - The company has no new strategies or market expansions reported in the current quarter[62] - There are no new product developments or technological advancements mentioned in the report[62] Other Financial Information - The company reported a financing cost of HKD 2,128,000, which increased from HKD 1,274,000 in the previous year[6] - Other losses for the period were approximately HKD 1.3 million, an increase of about HKD 0.3 million or 30.0% from HKD 1.0 million in 2022[47] - Financing costs for the period were approximately HKD 2.1 million, an increase of about HKD 0.8 million or 61.5% from HKD 1.3 million in 2022[50] - The company did not declare or propose any dividends for the three months ended March 31, 2023[37] - No shares were purchased, sold, or redeemed by the company or any of its subsidiaries during the reporting period[72]
凯富善集团控股(08512) - 2023 Q1 - 季度财报