Financial Performance - Revenue for the three months ended March 31, 2023, was HK$37,120,000, a slight increase of 0.4% compared to HK$36,968,000 for the same period in 2022[16] - Gross profit for the same period was HK$13,730,000, down 4.0% from HK$14,300,000 year-over-year[16] - Profit before income tax decreased to HK$7,386,000, a decline of 17.3% from HK$8,921,000 in the previous year[16] - Profit attributable to owners of the Company for the period was HK$6,434,000, down 16.4% from HK$7,696,000 in the prior year[16] - Basic and diluted earnings per share were HK$0.80, compared to HK$0.96 for the same period last year, reflecting a decrease of 16.7%[16] - The profit for the period ended March 31, 2023, was HK$6,434,000, compared to HK$7,696,000 for the same period in 2022, indicating a decrease of about 16.4%[19] - For the three months ended 31 March 2023, the Group recorded a net profit of approximately HK$6.4 million, a decrease of 16.5% from HK$7.7 million for the same period in 2022[51] Expenses and Costs - Administrative expenses increased to HK$6,931,000, up 15.7% from HK$5,988,000 in the previous year[16] - Direct costs rose to HK$23,390,000, an increase of 3.2% from HK$22,668,000 in the same period last year[16] - Costs of revenue increased to approximately HK$23.4 million, up by approximately HK$0.7 million or 3.2% from HK$22.7 million for the corresponding period in 2022[57] - Gross profit decreased to approximately HK$13.7 million, down by approximately HK$0.6 million or 4.0% from HK$14.3 million for the same period in 2022[58] - Administrative expenses increased to approximately HK$6.9 million, up by approximately HK$0.9 million or 15.7% from HK$6.0 million for the corresponding period in 2022[59] Taxation - Income tax expenses for the period were HK$952,000, compared to HK$1,225,000 in the previous year, indicating a decrease of 22.3%[16] - The income tax expense for the three months ended March 31, 2023, was calculated at a rate of 16.5%, consistent with the previous year[37] Equity and Retained Earnings - As of March 31, 2023, the total equity increased to HK$197,788,000, up from HK$191,354,000 at the beginning of the year, reflecting a growth of approximately 3.3%[18] - The retained earnings as of March 31, 2023, rose to HK$108,120,000 from HK$101,686,000, representing an increase of approximately 6.2%[18] Business Outlook and Strategy - The Company continues to explore new strategies for market expansion and product development to enhance future performance[15] - The Group is cautiously optimistic about its business outlook due to an increasing number of project quotation invitations from potential and current customers[51] - The Group aims to improve operational efficiency and profitability while seeking opportunities to expand its customer base and market share[52] Corporate Governance - The company has complied with the Corporate Governance Code throughout the three months ended March 31, 2023[79] - The Audit Committee, comprising three independent non-executive Directors, reviews financial statements and oversees external auditor appointments[84] - The company is committed to enhancing corporate governance practices to increase transparency and accountability to shareholders[79] - No incidents of non-compliance regarding Directors' securities transactions were noted for the three months ended March 31, 2023[82] Shareholding and Securities - As of March 31, 2023, Cheung Kwan Tar holds 541,200,000 shares, representing 67.65% of the company's shareholding[72] - Cheng Chi Heng is a beneficial owner of 58,800,000 shares, accounting for 7.35% of the company's shareholding[78] - The company has adopted a Share Option Scheme since August 20, 2018, but no share options have been granted under this scheme[83] - The Group has not purchased, sold, or redeemed any of its listed securities during the three months ended March 31, 2023[68] - As of March 31, 2023, no other parties (excluding Directors or chief executives) had interests of 5% or more in the shares of the company[75] Financial Reporting - The Group's financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with applicable regulations[23] - The unaudited financial statements for the period ended March 31, 2023, are presented in Hong Kong dollars (HK$), rounded to the nearest thousand[24] - The unaudited first quarterly results for the three months ended March 31, 2023, have been reviewed by the Audit Committee[85] - The Group operates as a single segment focused on engineering consultancy services, with no separate segment analysis provided[36] - The Group's financial performance is reviewed by the executive directors, who are identified as the chief operating decision-makers[36]
宝燵控股(08601) - 2023 Q1 - 季度财报