Financial Performance - The group's revenue decreased by approximately HKD 161.4 million or 68.0%, from HKD 237.6 million for the nine months ended December 31, 2021, to HKD 76.1 million for the nine months ended December 31, 2022[14]. - Gross profit decreased by approximately HKD 7.2 million or 79.6%, from HKD 9 million to HKD 1.8 million, with the gross profit margin dropping from 3.8% to 2.4%[16]. - The group recorded a loss of approximately HKD 73,800,000 for the nine months ended December 31, 2022, compared to a loss of HKD 1,600,000 for the same period in 2021[23]. - Revenue for the nine months ended December 31, 2022, was HKD 76,130,000, a decrease from HKD 237,547,000 for the same period in 2021[28]. - Gross profit for the nine months ended December 31, 2022, was HKD 1,847,000, down from HKD 9,036,000 for the same period in 2021[28]. - For the nine months ended December 31, 2022, the company reported a loss attributable to shareholders of HKD 73,808,000, compared to a loss of HKD 1,565,000 for the same period in 2021[54]. - The basic loss per share for the nine months ended December 31, 2022, was HKD (0.63), compared to HKD (0.01) for the same period in 2021[54]. Costs and Expenses - Direct costs fell by approximately HKD 154.2 million or 67.5%, from HKD 228.5 million to HKD 74.3 million during the same periods[15]. - Administrative expenses increased by approximately HKD 3,600,000 or 32.3% to HKD 14,700,000 for the nine months ended December 31, 2022, compared to HKD 11,100,000 for the same period in 2021[21]. - Total employee costs, including direct labor costs, amounted to HKD 39,036,000 for the nine months ended December 31, 2022, compared to HKD 31,414,000 for the same period in 2021, reflecting an increase of approximately 24.4%[49]. - The company reported finance costs of HKD 2,823,000 for the nine months ended December 31, 2022, slightly up from HKD 2,817,000 in the same period of 2021[46]. - The company's depreciation expenses for property, plant, and equipment totaled HKD 4,977,000 for the nine months ended December 31, 2022, compared to HKD 3,318,000 for the same period in 2021[49]. Other Income and Losses - Other income increased significantly by approximately HKD 3.3 million or 250.3%, from HKD 1.3 million to HKD 4.6 million, mainly due to government subsidies under the Employment Support Scheme[17]. - Other gains and losses turned from a profit of approximately HKD 2.3 million to a loss of HKD 3.1 million, a decline of approximately HKD 5.4 million or 235.0%[18]. - Impairment losses under the expected credit loss model amounted to approximately HKD 59.6 million during the period, attributed to the impairment of trade receivables, other receivables, and contract assets[19]. Contracts and Business Outlook - As of December 31, 2022, the group had 32 existing contracts with a total value of HKD 795.5 million, after completing 56 contracts worth HKD 397.5 million and securing 3 new contracts valued at HKD 53.1 million during the review period[10]. - The group remains cautiously optimistic about the construction industry's outlook and aims to explore new business opportunities and investments[25]. - The impact of COVID-19 on the industry and economy remains uncertain, with increased direct costs due to labor shortages and rising construction material costs[24]. - The group has implemented various measures to mitigate the impact of COVID-19 and is focused on sustainable development to maximize shareholder returns[25]. Taxation - Tax expenses decreased by HKD 36,000 or 100% to zero for the nine months ended December 31, 2022, due to a pre-tax loss of approximately HKD 73,800,000 compared to a loss of HKD 1,600,000 for the same period in 2021[23]. - The company did not incur any Hong Kong profits tax for the nine months ended December 31, 2022, and deferred tax expenses were recorded at HKD 876,000 for the same period in 2021[51]. Shareholder Information - As of December 31, 2022, Chrysler Investments Limited held 260,000,000 shares, representing 65.0% of the company's equity[57]. - The company has a share option scheme that allows for the issuance of up to 10% of the total issued shares post-IPO, which amounts to 40,000,000 shares[67]. - The maximum number of options granted to any individual within a 12-month period cannot exceed 1% of the issued shares[68]. - The company’s major shareholders include Chrysler Investments Limited and others, each holding 10% or more of the shares[62]. Corporate Governance - The company has complied with the corporate governance code provisions during the nine months ended December 31, 2022[79]. - There were no securities transactions by directors that violated the established code of conduct during the reporting period[73]. - The company has not entered into any agreements that would create a direct or indirect competition with its business during the nine months ended December 31, 2022[74]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated financial results for the nine months ended December 31, 2022[77]. Dividends and Share Transactions - No dividends were declared or proposed for the nine months ended December 31, 2022, consistent with the same period in 2021[55]. - The company has not reported any changes in the board of directors since the last annual report[66]. - The company did not issue any share options under the share option scheme from April 1, 2022, to December 31, 2022[69]. - The company has not repurchased any of its own shares during the nine months ended December 31, 2022[72]. - The company's shares have been suspended from trading since August 15, 2022, and will remain suspended until further notice[81].
常满控股(08523) - 2023 Q3 - 季度财报