Financial Performance - The company reported a significant increase in revenue for Q3 2022, achieving a total of $X million, representing a Y% growth compared to the previous quarter[2]. - Revenue for the three months ended September 30, 2022, was HK$37,621,000, representing a 31.1% increase from HK$28,700,000 in the same period of 2021[11]. - Gross profit for the nine months ended September 30, 2022, was HK$33,322,000, slightly up from HK$32,786,000 in the previous year, indicating a 1.6% increase[11]. - Profit before income tax for the three months ended September 30, 2022, was HK$882,000, down 82.0% from HK$4,913,000 in the same period of 2021[11]. - Profit attributable to owners of the Company for the nine months ended September 30, 2022, was HK$14,343,000, compared to HK$13,459,000 in 2021, reflecting a 6.5% increase[11]. - Revenue increased to approximately HK$116.5 million for the nine months ended 30 September 2022, up by approximately HK$26.2 million or 29.0% from HK$90.3 million for the corresponding period in 2021[43]. - The increase in revenue was driven by higher contract awards, an increase in technical staff enhancing productivity, and market recovery from COVID-19[43]. - The Group recorded a net profit of approximately HK$14.3 million for the nine months ended 30 September 2022, compared to HK$13.5 million for the same period in 2021, reflecting an increase due to government subsidies related to COVID-19 amounting to approximately HK$3.3 million[41]. - Adjusted net profit for the nine months ended 30 September 2022, excluding COVID-19 related subsidies, would have been approximately HK$11.1 million, with a decrease attributed to increased direct labor costs and subconsultancy fees[41]. Operational Efficiency - The company plans to enhance its supply chain efficiency, targeting a reduction in operational costs by H% over the next fiscal year[2]. - The Group aims to improve operational efficiency and profitability while seeking opportunities to expand its customer base and market share[41]. - The increase in costs was primarily attributed to higher direct labor costs and subconsultancy fees[44]. - Administrative expenses for the three months ended September 30, 2022, increased to HK$7,054,000 from HK$5,318,000 in 2021, marking a 32.7% rise[11]. - Administrative expenses increased to approximately HK$21.2 million for the nine months ended September 30, 2022, an increase of approximately HK$3.9 million or 22.3% from approximately HK$17.3 million for the same period in 2021[47]. Strategic Initiatives - The company provided a positive outlook for the next quarter, projecting revenue growth of B% based on current market trends and user acquisition strategies[2]. - New product launches are expected to contribute an additional $C million in revenue, with anticipated market expansion into D regions[2]. - Market expansion efforts include potential acquisitions, with the company evaluating F targets to strengthen its market position[2]. - The management highlighted a strategic shift towards digital marketing, aiming to increase customer engagement by G%[2]. - A new partnership with I firm is expected to drive innovation and open new revenue streams, projected to add J million in the next fiscal year[2]. - The Company continues to focus on engineering consultancy services, with plans for market expansion and potential new product development in the upcoming quarters[12]. Corporate Governance - The company is committed to high standards of corporate governance to enhance stakeholder confidence[66]. - The company has adopted the Corporate Governance Code since September 13, 2018, to improve transparency and accountability[66]. - The Audit Committee, comprising three independent non-executive Directors, reviews financial statements and internal controls[71]. - The company has established an Audit Committee in compliance with GEM Listing Rules, responsible for recommending the appointment and remuneration of external auditors, reviewing financial statements, and overseeing risk management systems[76]. - The unaudited third-quarter results for the nine months ending September 30, 2022, have been reviewed by the Audit Committee members, who provided their recommendations and opinions[77]. - The company will regularly review the need to separate the roles of Chairman and CEO to maintain good corporate governance[66]. - Mr. Cheung Kwan Tar serves as both Chairman and CEO, providing strong leadership for effective management[66]. - No incidents of non-compliance with the GEM Listing Rules were noted for the nine months ended September 30, 2022[71]. Shareholder Information - As of 30 September 2022, Cheung Kwan Tar holds 426,000,000 shares, representing 53.25% of the Company[58]. - Major shareholder Waywin Investment Holding Limited holds 426,000,000 shares, representing 53.25% of the total shareholding[60]. - Cheng Chi Heng and Polar Lights Limited each hold 57,600,000 shares, accounting for 7.20% of the total shareholding[60]. - The company has not granted any share options under the Share Option Scheme since its adoption on August 20, 2018[70]. - No dividends have been proposed or paid by the Company or any of its subsidiaries during the nine months ended 30 September 2022[39]. - The Board does not recommend the payment of dividends for the nine months ended 30 September 2022, compared to nil for the same period in 2021[47].
宝燵控股(08601) - 2022 Q3 - 季度财报