Financial Performance - For the three months ended June 30, 2023, the company reported revenue of HKD 5,378,000, a 118% increase compared to HKD 2,463,000 in the same period of 2022[4] - Gross profit for the same period was HKD 1,473,000, up 114% from HKD 689,000 year-over-year[4] - The company recorded a loss before tax of HKD 6,778,000, which is a 42% improvement compared to a loss of HKD 11,696,000 in the previous year[4] - Basic and diluted loss per share for the period was HKD 0.36, compared to HKD 0.97 in the same period last year[4] - Other income increased significantly to HKD 4,516,000 from HKD 364,000, marking a growth of 1,143%[4] - Total comprehensive loss for the period was HKD 6,771,000, compared to HKD 12,048,000 in the previous year, indicating a reduction of 44%[7] - Merchant acquiring transaction fee income rose to HKD 4,329,000, up 149% from HKD 1,740,000 in the previous year[19] - The group recorded a gross profit of approximately HKD 1,473,000, representing an increase of about 113.8% compared to HKD 689,000 in the same period last year[63] - The group experienced a net loss of approximately HKD 6,778,000, a decrease from HKD 11,696,000 in 2022, attributed to increased revenue and gross profit offsetting higher administrative expenses[69] Equity and Liabilities - The company’s total equity attributable to equity holders as of June 30, 2023, was HKD 45,581,000, down from HKD 52,352,000 at the beginning of the period[11] - As of June 30, 2023, the total liability and equity portions of the convertible bonds were HKD 11,883,000 and HKD 12,128,000, respectively, totaling HKD 24,011,000[44] - The actual interest rates for the original and new convertible bonds were 21.93% and 8.85%, respectively[44] Corporate Actions and Governance - The company completed the sale of Global Principal Investment Limited on April 18, 2023, for a total cash consideration of HKD 1[35] - The company did not declare any dividends for the three months ended June 30, 2023, consistent with the previous year[34] - The board approved the first quarter financial statements on August 9, 2023[53] - The audit committee has reviewed the first quarter financial statements and believes they comply with applicable accounting standards and have made sufficient disclosures[98] - The board of directors has adopted various governance policies, including a shareholder communication policy and an anti-corruption policy, to enhance corporate governance standards[90] - The company remains committed to high standards of corporate governance to protect shareholder interests and enhance corporate value[89] - The board has acknowledged non-compliance with certain GEM Listing Rules regarding the composition of the audit committee and remuneration committee[96] - As of the report date, the number of independent non-executive directors is below the minimum required by GEM Listing Rules, which mandates at least three independent non-executive directors[92] - The company is actively seeking suitable candidates to fill the vacancies of independent non-executive directors to comply with GEM Listing Rules within three months from July 21, 2023[93] Market and Operational Strategies - The company primarily operates in Thailand and the Philippines, focusing on merchant acquiring services[13] - The company continues to explore new strategies for market expansion and product development in the Southeast Asian region[13] - The acquisition of bCode scanner technology was completed on March 30, 2023, allowing the group to extend its service offerings in the Philippines[58] - Market promotion and distribution service income increased by approximately HKD 550,000, mainly due to the reopening of the border between mainland China and Hong Kong in January 2023 and the commencement of bCode operations in the Philippines[60] - The company will continue to monitor the impact of the COVID-19 pandemic on its financial condition and operational performance, adjusting its business strategies accordingly[57] Share Capital and Ownership - The company’s total issued shares as of June 30, 2023, amounted to 1,859,566,667 shares[82] - Mr. Zeng holds 4,880,000 shares directly and has an interest in 200,000,000 shares through Gold Track Ventures Limited, representing approximately 10.76% of the company[79] - Major shareholder Mobile Technology Holdings Limited owns 476,666,667 shares, accounting for 25.63% of the company[84] - Mr. Cai has an interest in 304,460,000 shares through controlled entities, representing approximately 16.37% of the company[84] - The company has not issued any share options since the adoption of the share option plan on September 18, 2018, and currently has 100,000,000 shares available for issuance under the plan, representing approximately 5.27% of the total issued shares as of the report date[97] Financial Management - Financing costs decreased to HKD 803,000 from HKD 1,477,000 in the previous year, reflecting a reduction in interest expenses[24] - Employee costs decreased to HKD 2,355,000 from HKD 3,853,000, indicating a reduction in overall personnel expenses[24] - The company did not incur any income tax expenses due to tax losses generated during the period[27] - The company confirmed a loss of approximately HKD 1,100,000 due to non-significant amendments to the convertible bonds terms[39] - The company recognized an adjustment of approximately HKD 5,216,000 as a gain from the cancellation of the original convertible bonds[42] - The company has no outstanding foreign exchange forward contracts as of June 30, 2023, compared to approximately $1,451,000 (equivalent to about HKD 11,392,000) as of March 31, 2023[75] - As of June 30, 2023, the company reported no significant contingent liabilities, consistent with the previous period[76] - There were no significant investments, acquisitions, or disposals during the reporting period, similar to 2022[77] - The company continues to monitor foreign exchange risks and will consider applicable derivative instruments as necessary[75]
东方支付集团控股(08613) - 2024 Q1 - 季度财报