Financial Performance - Revenue for the first quarter ended June 30, 2022, was HK$92,508,000, representing a 28% increase from HK$72,379,000 in the same period of 2021[10] - Gross profit for the same period was HK$4,381,000, slightly down from HK$4,852,000, indicating a decrease of approximately 10%[10] - Profit for the period was HK$1,288,000, up by 11% compared to HK$1,161,000 in the previous year[10] - Basic earnings per share for the first quarter was HK$0.16, an increase from HK$0.15 in the same quarter of 2021[10] - Total comprehensive income for the period was HK$1,318,000, compared to HK$1,197,000 in the previous year, showing an increase of about 10%[10] - The Group's profit for the period was HK$1,288,000 for the three months ended June 30, 2022, compared to HK$1,161,000 for the same period in 2021[62] - Profit for the period increased from approximately HK$1.2 million to approximately HK$1.3 million, driven by an increase in other income and a decrease in administrative expenses[92] Revenue Breakdown - Revenue from construction services for residential properties was HK$40,177,000, up from HK$35,103,000, reflecting a growth of 14% year-on-year[31] - Revenue from construction services for commercial properties increased to HK$52,331,000 from HK$37,276,000, marking a significant rise of 40%[31] - The Group's total revenue recognized during the reporting period was primarily from ongoing projects, reflecting the company's operational performance[66] - The Group's total revenue increased by approximately HK$20.1 million or 27.8%, from approximately HK$72.4 million for the three months ended June 30, 2021, to approximately HK$92.5 million for the same period in 2022[79] Expenses and Costs - Administrative expenses decreased to HK$2,378,000 from HK$2,629,000, reflecting a reduction of about 10%[10] - Total staff costs for the period amounted to HK$13,692,000, an increase from HK$11,442,000 in the previous year[56] - The cost of services rose to approximately HK$88.1 million for the three months ended June 30, 2022, representing an increase of approximately 30.5% from approximately HK$67.5 million for the same period in 2021[80] - Finance costs increased to HK$1,175,000 from HK$941,000, marking a rise of approximately 25%[10] - Finance costs increased from approximately HK$0.9 million to approximately HK$1.2 million, attributed to a rise in the average interest rate of bank borrowings[90] Corporate Governance and Compliance - The Company has applied the principles and code provisions in the Corporate Governance Code and complied with all applicable code provisions during the reporting period[126] - The Audit Committee has reviewed the unaudited condensed consolidated financial statements for the three months ended June 30, 2022, confirming compliance with applicable accounting standards and adequate disclosure[129] - The Company has established an Audit Committee in compliance with GEM Listing Rules since January 25, 2018[127] - The Company has maintained a code of conduct for Directors regarding securities transactions, ensuring adherence to GEM Listing Rules[124] Shareholding and Ownership - As of June 30, 2022, Mr. Chow Mo Lam holds a long position of 600,000,000 shares, representing 75% of the company's shareholding[100] - C.N.Y. Holdings Limited, owned 83% by Mr. Chow and 17% by Mr. Yu Lap On Stephen, directly holds 600,000,000 shares[101] - The substantial shareholders' interests include C.N.Y. Holdings Limited with a long position of 600,000,000 shares, equating to 75% of the issued capital[111] - Mr. Chow, Mr. Yu, and C.N.Y. Holdings Limited are regarded as controlling shareholders due to their significant shareholdings[105] Operational Focus and Market Outlook - The company continues to focus on providing design and project management services for façade and installation of curtain wall systems in Hong Kong[16] - The demand for façade and curtain wall works is driven by the construction of residential and commercial buildings, with forecast completions of 22,851 new units in 2022 and 21,848 new units in 2023[67] - The Group remains optimistic about its core business despite the economic slowdown, focusing on expanding its customer base and achieving sustainable growth[74] - The Group plans to strengthen its sales efforts and closely monitor project statuses to enhance competitiveness in securing larger and more profitable projects[74] Risks and Challenges - The recent COVID-19 outbreak is expected to impact the Group's business, with ongoing assessments of its operational risks and uncertainties[75] Other Information - The company was incorporated in the Cayman Islands and its shares are listed on GEM of The Stock Exchange of Hong Kong Limited since February 23, 2018[15] - The principal place of business is located in North Point, Hong Kong, indicating a stable operational base[16] - The Group operates a single operating segment, focusing on construction services without further segmentation analysis[32] - The financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards, with no significant effects from the adoption of new standards[22] - The report will remain available on the Stock Exchange's website for at least seven days from the posting date[132]
宝发控股(08532) - 2023 Q1 - 季度财报