Financial Performance - For the three months ended June 30, 2023, the group's revenue was approximately HKD 39.7 million, a decrease of about 20.3% compared to HKD 49.8 million for the same period in 2022[8]. - The gross profit for the same period was approximately HKD 10.7 million, down about 15.1% from HKD 12.6 million in the previous year[8]. - The net loss for the three months ended June 30, 2023, was approximately HKD 2.3 million, compared to a net profit of HKD 577,000 for the same period in 2022[8]. - Basic and diluted loss per share for the period was HKD 0.23, compared to earnings of HKD 0.06 per share in the previous year[8]. - The total comprehensive loss for the period attributable to owners of the company was HKD 2.3 million, compared to a profit of HKD 577,000 in the prior year[9]. - Revenue from residential buildings was HKD 7,435,000, down 32.0% from HKD 11,073,000 year-on-year[19]. - Revenue from community facilities was HKD 9,897,000, a slight decrease of 2.4% from HKD 10,137,000 in the previous year[19]. - Revenue from commercial buildings increased to HKD 11,777,000, up 6.0% from HKD 11,110,000 in the same period last year[19]. - The company reported a loss attributable to owners of HKD 2,288,000 for the three months ended June 30, 2023, compared to a profit of HKD 577,000 in the same period of 2022[29]. - Total employee costs for the period were HKD 11,151,000, a decrease of 2.5% from HKD 11,434,000 in the previous year[25]. - The company incurred finance costs of HKD 494,000, significantly higher than HKD 139,000 in the same period last year[24]. - Other income decreased to HKD 35,000 from HKD 577,000 year-on-year[9]. - The company reported a tax expense of HKD 146,000, a decrease of 81.7% from HKD 798,000 in the previous year[27]. Dividends and Shareholder Information - The board of directors did not recommend any dividend for the three months ended June 30, 2023, consistent with the previous year[8]. - The company did not declare any dividends for the three months ended June 30, 2023, consistent with the previous year[31]. - The company’s directors and major shareholders hold a 75% equity interest in the company, with Mr. Lam and Ms. Wang each holding 750 million shares[59]. - As of June 30, 2023, Ultra Success holds 750,000,000 shares, representing 75% of the company's equity[63]. - There were no unexercised share options as of June 30, 2023, and no share options have been granted, agreed to be granted, exercised, or cancelled since the listing date[65]. - The company did not purchase, sell, or redeem any of its listed securities during the three months ended June 30, 2023[66]. Corporate Governance and Compliance - The audit committee reviewed the financial reporting process and confirmed that the unaudited condensed consolidated financial statements for the three months ended June 30, 2023, were prepared in accordance with applicable accounting standards[72]. - The company has adopted a code of conduct for securities trading that complies with GEM Listing Rules, and all directors confirmed compliance with the trading standards[69]. - The roles of the chairman and CEO are held by Mr. Lin, which the board believes is in the best interest of the company despite deviating from corporate governance code C.2.1[68]. - The company has established an audit committee to oversee financial reporting, risk management, and internal control processes since March 18, 2020[72]. - The company has complied with the corporate governance practices as per GEM Listing Rules, except for the aforementioned deviation[67]. - The company emphasizes the importance of good corporate governance to promote accountability in management and internal procedures[67]. Business Strategy and Market Position - The company has undergone a group restructuring and has been listed on the GEM since April 23, 2020[13]. - The company plans to utilize approximately HKD 21.6 million from the net proceeds, with 9.8% allocated for purchasing additional machinery and equipment, 29.1% for expanding workforce, and 31.0% for strengthening financial position[50]. - As of June 30, 2023, the company has utilized about HKD 17.8 million from the net proceeds, with the remaining balance stored in a licensed bank in Hong Kong[50]. - The company anticipates that the impact of COVID-19 will depend on the effectiveness of preventive measures and the duration of the pandemic, affecting the overall economy in Hong Kong and Macau[52]. - The company is committed to strict cost control policies and will take necessary actions to maintain profitability and market competitiveness amid economic uncertainties[53]. - The company aims to expand its workforce and secure more construction protection projects in Hong Kong to strengthen its market position[53]. - The company has not encountered any significant shortages or difficulties in the supply of construction protection products[52]. - The company will regularly review its asset structure and business strategies to adapt to future challenges[53]. Environmental Responsibility - The company has not faced any prosecutions, fines, or penalties for violating applicable environmental laws or regulations[55]. - The company is dedicated to enhancing environmental protection and aims to minimize the impact of its business activities on the environment[54].
新威工程集团(08616) - 2024 Q1 - 季度财报