Financial Results - The unaudited consolidated results for the three months ended June 30, 2023, have been announced, with comparative figures for the same period in 2022 provided[16]. - The report includes a condensed consolidated statement of profit or loss and other comprehensive income for the period[16]. - The financial results have not been audited but have been reviewed and approved by the audit committee of the company[16]. - Revenue for the three months ended June 30, 2023, was HK$52,372,000, representing a 21.5% increase from HK$43,142,000 in the same period of 2022[18]. - Gross profit for the same period was HK$10,391,000, up 35.3% from HK$7,681,000 year-over-year[18]. - Profit for the period was HK$529,000, a significant recovery from a loss of HK$713,000 in the previous year[18]. - Basic and diluted earnings per share improved to HK$0.04 compared to a loss of HK$0.06 per share in the prior year[18]. - Total comprehensive income for the period was HK$529,000, contrasting with a total comprehensive loss of HK$713,000 in the same period last year[18]. - Profit before taxation for the period was approximately HK$529,000, a recovery from a loss of approximately HK$713,000 in the corresponding period[44]. Revenue Breakdown - Total revenue for the period reached HK$52,372,000, a rise from HK$43,142,000 in the same period last year, representing an increase of approximately 21.5%[39]. - Revenue from ODM toy sales to license holders increased by approximately 10.7% to HK$26,569,000 compared to HK$24,002,000 in the corresponding period[53]. - Revenue from the distribution of imported toys and related products surged by approximately 59.9% to HK$13,477,000, up from HK$8,429,000 in the previous year[54]. - The Group's five largest customers contributed approximately 68.9% of total revenue, down from 80.6% in the corresponding period[36]. - The Group's largest customer generated sales of HK$28,300,000, compared to HK$24,704,000 in the previous year[39]. Expenses and Costs - Administrative expenses increased to HK$5,966,000 from HK$4,957,000, reflecting a 20.4% rise[18]. - Selling expenses decreased slightly to HK$1,735,000 from HK$1,924,000, indicating a 9.8% reduction[18]. - Cost of sales increased by approximately 18.4% to approximately HK$41,981,000 from approximately HK$35,461,000 in the corresponding period[65]. - Staff costs rose slightly to HK$3,541,000 from HK$3,439,000 in the previous year[41]. - Other net expenses decreased by approximately 1,069.4% to approximately HK$1,076,000 from other income of approximately HK$111,000 in the corresponding period[73]. Corporate Governance and Compliance - The company emphasizes the importance of accurate and complete information in compliance with GEM Listing Rules[4]. - The company has confirmed that there are no misleading or deceptive statements in the report[4]. - The company is committed to transparency and accountability in its financial reporting[4]. - The Board does not recommend the payment of dividends for the period, consistent with the previous period where no dividends were paid[102]. - The Company has complied with the Corporate Governance Code during the period, except for a deviation regarding the roles of the chairman and CEO[134]. - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the three months ended June 30, 2023, confirming compliance with applicable accounting standards[139]. Risks and Future Plans - The company has a higher risk profile, making it more suitable for professional and sophisticated investors[1]. - There is a risk of high market volatility for securities traded on GEM compared to those on the main board[2]. - The Group faces risks including the inability to secure new orders, which could significantly impact financial performance, and reliance on the senior management team's effectiveness[110]. - The Group plans to expand its network beyond the ACG figure toys market to diversify income sources and enhance shareholder value[111]. - The Board believes that leveraging its wide product portfolio of high-end toys will lead to a breakthrough in business performance in the future[112]. Share Capital and Ownership - As of June 30, 2023, Mr. Li Wai Keung holds a long position of 180,800,000 shares, representing 15.16% of the issued share capital of the Company[117]. - Infinite Force holds 180,800,000 shares, representing 15.16% of the Company's issued share capital[122]. - Ms. Fong Wing Yan, as the spouse of Mr. Li, also holds 180,800,000 shares, equating to 15.16% of the Company's issued share capital[122]. - Ms. Lam Hoi Yan is a beneficial owner of 65,000,000 shares, which is 5.45% of the Company's issued share capital[122]. - The Company's issued ordinary share capital was HK$11,923,077, divided into 1,192,307,692 shares of HK$0.01 each[130]. - The Company did not redeem any of its ordinary shares during the period, nor did it or its subsidiaries purchase or sell any ordinary shares[124]. - There were no options granted, exercised, lapsed, or cancelled under the Share Option Scheme as of June 30, 2023[133]. Audit and Review - The report will be available on the Stock Exchange's website for at least seven days from the posting date[5]. - The unaudited condensed consolidated financial statements for the three months ended June 30, 2023, have been reviewed by the audit committee and management, confirming compliance with applicable accounting standards and GEM listing rules[141]. - The Group has made sufficient disclosures in its financial reporting as of the report date[141].
佰悦集团(08545) - 2024 Q1 - 季度财报