Financial Performance - For the nine months ended December 31, 2022, the company reported total revenue of HKD 75,013,000, a 42.0% increase from HKD 52,890,000 in the same period of 2021[8] - The gross profit for the same period was HKD 23,485,000, representing a 56.8% increase compared to HKD 14,967,000 in 2021[8] - The company recorded a net profit of HKD 541,000 for the nine months ended December 31, 2022, compared to a net loss of HKD 2,248,000 in the previous year[8] - The earnings per share for the nine months was HKD 0.05, a recovery from a loss of HKD 0.21 per share in the same period of 2021[8] - The total comprehensive income for the period was HKD 715,000, compared to a total comprehensive loss of HKD 2,309,000 in the previous year[12] - The company reported a pre-tax profit of HKD 15,104,000 for the three months ended December 31, 2022, compared to HKD 11,008,000 for the same period in 2021, reflecting a 37.5% increase[31] - The company's revenue increased by approximately 41.8% from about HKD 52.9 million to approximately HKD 75.0 million for the nine months ended December 31, 2022, compared to the same period in 2021[52] - Gross profit rose from approximately HKD 15.0 million to about HKD 23.5 million, with the overall gross margin increasing from approximately 28.3% to about 31.3%[57] Income and Costs - The company experienced a significant increase in other income, totaling HKD 2,676,000 for the nine months, up from HKD 923,000 in 2021[8] - The company’s service costs increased to HKD 51,528,000 for the nine months, compared to HKD 37,923,000 in the same period of 2021[8] - The total employee costs for the nine months ended December 31, 2022, amounted to HKD 46,542,000, an increase of 20.1% compared to HKD 38,803,000 for the same period in 2021[31] - Other income increased approximately threefold from HKD 0.9 million to HKD 2.7 million, primarily due to government subsidies under the employment support scheme[58] - Service costs rose by about 35.9% from approximately HKD 37.9 million to about HKD 51.5 million, mainly due to increased subcontracting fees and employee costs related to consulting services[56] - General and administrative expenses increased by approximately 20.6% from HKD 13.7 million to HKD 16.5 million, driven by higher employee costs and operational scale expansion[63] Future Outlook - The company plans to continue expanding its market presence and developing new products to drive future growth[8] - The company aims to expand its market share by seeking more engineering consulting service contracts despite a challenging business environment[53] - The company plans to acquire or invest in companies within the construction and property development industry, with HKD 4.6 million allocated for this purpose[75] Financial Position - The company reported a financing cost of HKD 199,000 for the nine months, slightly up from HKD 182,000 in 2021[8] - The company’s financing costs for the nine months ended December 31, 2022, totaled HKD 199,000, slightly up from HKD 182,000 for the same period in 2021[37] - The group has no borrowings as of December 31, 2022, indicating a strong financial position with sufficient liquidity to meet funding needs[66] - The current ratio slightly decreased from approximately 3.4 times as of March 31, 2022, to about 3.3 times as of December 31, 2022[62] Shareholder Information - The weighted average number of ordinary shares issued remained constant at 1,152,000 shares for both periods under review[48] - As of December 31, 2022, the company had 1,152,000,000 shares issued, with major shareholders holding significant stakes[90] - Dr. Chan and Mr. Kwong collectively control approximately 29.69% of the company's shares through their investment holding company, Wan Nian Property Development Limited[84] - Wan Nian Property Development Limited is owned approximately 68.2% by Dr. Chan and 31.8% by Mr. Kwong[84] Governance and Compliance - The company continues to comply with the corporate governance code as per GEM listing rules, with ongoing reviews to enhance governance standards[99] - The company has established a robust internal control system, negating the need for insurance for directors' liabilities at this time[101] - The company has maintained strict compliance with securities trading regulations without any violations reported during the nine months ended December 31, 2022[101] - There were no conflicts of interest reported among directors or major shareholders as of December 31, 2022[98] Miscellaneous - The company did not recommend any dividend payment for the nine months ended December 31, 2022, consistent with the previous year[47] - The company did not purchase, sell, or redeem any of its listed securities during the nine months ended December 31, 2022[101] - The audit committee reviewed the unaudited condensed consolidated financial statements for the nine months ended December 31, 2022[103] - The company has adopted a share option scheme since August 27, 2018, but no options were granted during the nine months ended December 31, 2022[101] - The board of directors has not faced any legal actions that would require insurance coverage as the company’s operations are stable[99] - The group recorded a profit of approximately HKD 0.5 million for the nine months ended December 31, 2022, compared to a loss of approximately HKD 2.2 million for the same period in 2021, attributed to increased revenue and gross margin, as well as government subsidies from the Employment Support Scheme[64] - The group's tax expenses increased from approximately HKD 0.2 million for the nine months ended December 31, 2021, to approximately HKD 1.8 million for the same period in 2022, an increase of 800%[64]
WAC HOLDINGS(08619) - 2023 Q3 - 季度财报