Financial Performance - The profit for the three months ended June 30, 2023, was approximately HK$1.0 million, compared to approximately HK$1.5 million for the same period in 2022[20]. - The revenue for the Group for the three months ended June 30, 2023, was approximately HK$48.6 million, representing an increase of approximately 51.0% compared to approximately HK$32.2 million for the same period in 2022[20]. - The Group's revenue increased by approximately HK$16.4 million, or approximately 51.0%, from approximately HK$32.2 million for the three months ended June 30, 2022, to approximately HK$48.6 million for the three months ended June 30, 2023[29]. - The Group's gross profit increased by approximately HK$2.2 million, or approximately 22.4%, from approximately HK$9.7 million to approximately HK$11.9 million[47]. - Gross profit for the same period was HK$11,929,000, up 22.4% from HK$9,746,000 year-on-year[91]. - Earnings for the period decreased to HK$1,042,000 in Q2 2023 from HK$1,501,000 in Q2 2022, representing a decline of approximately 30.6%[120]. Revenue Breakdown - Revenue from gem-set jewellery products increased by approximately HK$3.3 million, or approximately 25.2%, from approximately HK$12.8 million to approximately HK$16.1 million[34]. - Revenue from pure gold products increased by approximately HK$7.3 million, or approximately 44.7%, from approximately HK$16.3 million to approximately HK$23.6 million[35]. - Revenue from trading of recycled gold products increased by approximately HK$5.9 million, or approximately 195.7%, from approximately HK$3.0 million to approximately HK$8.9 million[36]. - Retail channel revenue increased by approximately HK$9.3 million, or approximately 34.4%, from approximately HK$27.2 million to approximately HK$36.5 million[41]. - Wholesale channel revenue increased by approximately HK$1.2 million, or approximately 58.9%, from approximately HK$2.0 million to approximately HK$3.2 million[42]. Corporate Governance - The company has adopted corporate governance practices consistent with the Corporate Governance Code, with a noted deviation from code provision C.2.1[52]. - The group is committed to maintaining high standards of corporate governance to meet the needs of its business and shareholders[52]. - The company did not purchase, sell, or redeem any of its shares during the three months ended June 30, 2023[60]. - No incidents of non-compliance with the Required Standard of Dealings were noted during the three months ended June 30, 2023[56]. - The Audit Committee reviewed the Group's unaudited consolidated results for the three months ended June 30, 2023, ensuring compliance with accounting standards[83]. Shareholder Information - As of June 30, 2023, Mr. Fu Chun Keung and Ms. Fu Wan Ling each held 562,500,000 shares, representing a 75% interest in the company[63]. - As of June 30, 2023, MGH Limited holds 562,500,000 shares, representing 75% of the issued share capital of the Company[69]. - The Directors and chief executives had no interests in shares or debentures of the Company or its associated corporations as of June 30, 2023[67]. - The Company did not identify any substantial shareholders with interests or short positions in shares or underlying shares as of June 30, 2023[71]. Future Plans and Strategies - The Group plans to expand its jewellery design collection to align with customer needs and market trends, as well as increase its retail presence[28]. - The marketing campaign will be extended to social media to enhance shareholder returns and support long-term growth[28]. - The company has no current plans for significant acquisitions or disposals[88]. Other Financial Metrics - Other income decreased by approximately HK$0.9 million, from approximately HK$1.0 million to approximately HK$68,000[48]. - The Group's other income decreased to HK$68,000 from HK$944,000 in the same period of 2022, primarily due to the absence of government grants received last year[110]. - The cost of inventories recognized as an expense was HK$43,842,000, compared to HK$22,428,000 in the same period last year, indicating a substantial rise[119]. - Interest on bank borrowings for the period was HK$266,000, an increase from HK$197,000 in the previous year[116]. - The total depreciation of property, plant, and equipment amounted to HK$2,430,000, up from HK$2,261,000 in the same period last year[119].
创辉珠宝(08537) - 2024 Q1 - 季度财报