Financial Performance - For the three months ended March 31, 2023, the total revenue of Kinetix Systems Holdings Limited was approximately HKD 68.8 million, an increase of about 6.9% compared to the same period in 2022[8]. - The gross profit for the same period was approximately HKD 13.0 million, representing a significant increase of about 33.6% year-on-year[8]. - The company recorded a net loss of approximately HKD 5.2 million for the three months ended March 31, 2023, compared to a net loss of HKD 10.1 million in the same period of 2022[9]. - The basic and diluted loss per share for the period was HKD 0.38, improving from HKD 1.02 in the previous year[9]. - The total comprehensive loss for the period was approximately HKD 5.2 million, compared to HKD 10.6 million in the same period of 2022[10]. - The company reported a loss attributable to owners of HKD 5,492,000 for the three months ended March 31, 2023, compared to a loss of HKD 9,844,000 in the same period of 2022[35]. - The total cost of subcontracting for the period was HKD 18,810,000, a decrease from HKD 20,337,000 in the same period of 2022[30]. - Total employee costs for the quarter were approximately HKD 20.1 million, slightly down from HKD 20.3 million in the same quarter of 2022[58]. Revenue Breakdown - Total revenue for the three months ended March 31, 2023, was HKD 68,777,000, an increase of 7.2% from HKD 64,319,000 in the same period of 2022[20]. - Revenue from IT infrastructure solutions services was HKD 30,226,000, up 29.4% from HKD 23,372,000 year-on-year[23]. - Revenue from IT development solutions services decreased to HKD 25,022,000, down 11% from HKD 28,108,000 in the previous year[23]. - Revenue from IT maintenance and support services increased to HKD 13,529,000, a rise of 16.2% compared to HKD 11,639,000 in 2022[23]. - Geographic revenue breakdown showed HKD 68,286,000 from Hong Kong, HKD 275,000 from Macau, and HKD 86,000 from the UK for the period[20]. Equity and Debt - The company’s total equity attributable to owners as of March 31, 2023, was approximately HKD 89.2 million, reflecting a decrease from HKD 121.6 million at the end of the previous year[12]. - Bank borrowings as of March 31, 2023, amounted to HKD 2,184 million, down from HKD 2,450 million as of December 31, 2022[37]. - As of March 31, 2023, the company had cash and cash equivalents of approximately HKD 58.3 million, an increase from HKD 25.2 million as of December 31, 2022[53]. - The company's debt-to-equity ratio improved to 28.5% as of March 31, 2023, down from 43.6% as of December 31, 2022[53]. Corporate Governance and Compliance - The board of directors did not recommend the payment of a quarterly dividend for the three months ended March 31, 2023[8]. - The company did not recommend any dividend for the three months ended March 31, 2023, consistent with the previous year[33]. - The company has adopted the corporate governance code as per GEM Listing Rules and believes it has complied with the code during the quarter[77]. - The audit committee has reviewed the unaudited financial statements for the three months ending March 31, 2023, ensuring compliance with applicable accounting standards[83]. Future Plans and Market Position - The company plans to enhance its response to market trends and strengthen its market position to capitalize on project opportunities as the economic environment improves[45]. - The company aims to expand its IT infrastructure and development solutions services to support economic development in Hong Kong and mainland China, focusing on sustainable growth in the new energy vehicle sector[45]. - The company plans to allocate HKD 11.90 million for the development of the new energy vehicle industry by December 31, 2023[81]. - The company will also allocate HKD 8.0 million for expanding technology and development solution services in China by December 31, 2023[81]. Employee and Operational Details - The company has a total of 157 employees as of March 31, 2023, down from 180 employees a year earlier[58]. - The company has no significant equity investments in other companies as of the 2023 quarter[55]. - There were no major acquisitions or disposals of subsidiaries or associates during the 2023 quarter[57]. - The company has no significant investment or capital asset plans other than those disclosed in the prospectus as of March 31, 2023[64]. - The company has a total of 68,427,536 stock options available for issuance, representing approximately 4.73% of the issued shares as of the report date[62]. - The company has no other asset pledges apart from the bank financing secured by a corporate guarantee of HKD 31 million as of March 31, 2023[65]. - The company did not engage in any purchase, sale, or redemption of its listed securities during the 2023 quarter[67]. Shareholding and Rights Issue - As of March 31, 2023, Vigorous King Limited holds 459,810,000 shares, representing 31.80% of the company's equity[74]. - The total net proceeds from the rights issue amount to approximately HKD 29.90 million, which remains unutilized as of March 31, 2023[81]. Legal and Risk Management - The company has not made any insurance arrangements for potential legal actions against its directors, citing manageable risks[78]. - There are no known competing businesses or interests that conflict with the company's operations as of the 2023 quarter[80]. - No significant events have occurred after the reporting period for the 2023 quarter[86].
倢冠控股(08606) - 2023 Q1 - 季度财报