Financial Performance - For the three months ended June 30, 2022, the group's revenue decreased from approximately HKD 91.11 million to approximately HKD 71.84 million, a decline of about 21.1%[7] - The profit attributable to shareholders for the reporting period was approximately HKD 2.95 million, an increase of approximately HKD 2.99 million compared to a loss of HKD 0.04 million for the same period in 2021[7] - The gross profit for the reporting period was approximately HKD 13.33 million, down from HKD 16.08 million, reflecting a decrease of about 17.1%[8] - The normalized profit for the reporting period, excluding listing expenses and government subsidies, was approximately HKD 2.09 million[7] - The total comprehensive income for the period was HKD 2.95 million, compared to a loss of HKD 0.044 million in the same period last year[8] - Revenue for the three months ended June 30, 2022, was HKD 71,838,000, a decrease of 21.1% compared to HKD 91,109,000 for the same period in 2021[17] - Installation services generated revenue of HKD 48,424,000, down 32.3% from HKD 71,637,000 in the previous year[17] - Maintenance services revenue increased to HKD 2,118,000, up 52.4% from HKD 1,390,000 in the same period last year[17] - The company reported a profit attributable to equity holders of HKD 2,947,000 for the three months ended June 30, 2022, compared to a loss of HKD 44,000 in the same period last year[27] - Basic earnings per share for the period was HKD 0.25, compared to a loss per share of HKD 0.004 in the previous year[27] Expenses and Costs - The group incurred listing expenses of approximately HKD 1.23 million during the reporting period, compared to HKD 6.99 million in the previous year[8] - The group's administrative and other operating expenses increased to HKD 8.11 million from HKD 7.78 million, representing an increase of about 4.3%[8] - Financing costs for the reporting period were HKD 0.23 million, up from HKD 0.15 million, indicating an increase of approximately 55.2%[8] - Total administrative and other operating expenses for the three months ended June 30, 2022, were HKD 8,107,000, an increase of 4.3% from HKD 7,775,000 in 2021[22] - Financing costs for the three months ended June 30, 2022, totaled HKD 227,000, an increase of 54.4% from HKD 147,000 in the same period last year[23] - The company’s income tax expense for the three months ended June 30, 2022, was HKD 796,000, down 48.0% from HKD 1,532,000 in the same period last year[24] - Administrative and other operating expenses increased by approximately HKD 0.33 million or 4.24% to about HKD 8.11 million due to higher employee salaries and professional fees[46] - Financing costs increased to approximately HKD 0.23 million from HKD 0.15 million due to higher interest expenses from bank loans and lease liabilities[47] - Income tax decreased by approximately HKD 0.73 million or 47.71% to about HKD 0.80 million, primarily due to non-deductible listing expenses[48] Shareholder Information - As of June 30, 2022, Mr. Pan Zhengqiang holds 508,500,000 shares, representing 42.37% of the issued share capital[56] - Mr. Wu Guowei, Ms. Li Taoxian, and Ms. Pan Jinyi each hold 90,000,000 shares, each representing 7.50% of the issued share capital[56] - The total number of issued shares as of June 30, 2022, is 1,200,000,000[63] - Success Step holds 418,500,000 shares, representing 34.87% of the issued share capital[61] - Noble Capital holds 391,500,000 shares, representing 32.63% of the issued share capital[61] - The combined holdings of Mr. Pan Zhengqiang and related entities account for 508,500,000 shares, or 42.37% of the total[62] - The ownership structure indicates a concentration of shares among a few key individuals and entities[60] Corporate Governance - The company emphasizes good corporate governance to enhance shareholder value, adhering to the principles of the corporate governance code, with a noted deviation regarding the separation of roles between the Chairman and CEO[69] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the quarterly performance and confirmed compliance with applicable accounting standards and GEM Listing Rules[72] - The company is committed to maintaining high standards of corporate governance practices through regular reviews by the board[70] - The company has adopted the GEM Listing Rules regarding securities trading conduct for directors, confirming compliance during the reporting period[67] - The Audit Committee has been established since January 24, 2018, to provide independent review and oversight of financial reporting[72] Future Outlook - The overall business environment remains challenging, but the company is optimistic about future growth opportunities, particularly in public housing and private projects[38][39] - The company continues to manage cash reserves prudently to prepare for future growth opportunities[51] Dividend Policy - The group did not recommend the payment of dividends for the reporting period, consistent with the previous year[6] - The revised dividend policy mandates that annual dividends will not be less than 30% of the group's consolidated net profit for any financial year, subject to certain criteria[73] - The company will consider actual and expected financial performance, working capital needs, and future expansion plans when declaring dividends[73] - No dividends were recommended for the reporting period[54] - The board believes that the dual role of the Chairman and CEO is in the best interest of the group for effective management and business development[69]
荧德控股(08535) - 2023 Q1 - 季度财报