Financial Performance - The Group recorded a revenue of approximately HK$31.9 million for the three months ended 30 June 2023, representing an increase of approximately HK$12.8 million or 67.0% compared to the revenue of approximately HK$19.1 million for the same period in 2022[8]. - The Group recorded a profit and total comprehensive income of approximately HK$0.6 million for the three months ended 30 June 2023, an increase of approximately HK$1.3 million compared to a loss of approximately HK$0.7 million for the same period in 2022[8]. - The profit before taxation for the three months ended 30 June 2023 was approximately HK$0.605 million, compared to a loss of approximately HK$0.731 million for the same period in 2022[11]. - The basic and diluted earnings per share for the three months ended 30 June 2023 was HK$0.15, compared to a loss of HK$0.18 per share for the same period in 2022[11]. - The total comprehensive income for the period increased to HK$0.605 million as of 30 June 2023, compared to a total comprehensive loss of HK$0.731 million for the same period in 2022[11]. - The Group's accumulated losses as of 30 June 2023 were approximately HK$8.257 million, reflecting the financial performance over the reporting period[12]. Revenue and Sales - Revenue for the three months ended June 30, 2023, was HK$31,871,000, representing an increase of 66.5% compared to HK$19,129,000 for the same period in 2022[29]. - Sales of diesel oil amounted to HK$31,583,000, up from HK$18,930,000, reflecting a growth of 66.8% year-over-year[29]. - The sales quantity of diesel oil increased by approximately 168.2% from 2.2 million litres for the three months ended 30 June 2022 to 5.9 million litres for the three months ended 30 June 2023[56][59]. - Revenue from the sales of diesel oil accounted for approximately HK$31.6 million, representing approximately 99.1% of the Group's total revenue for the three months ended 30 June 2023[55]. Cost and Expenses - The Group's cost of sales for the three months ended 30 June 2023 was approximately HK$29.34 million, compared to HK$18.05 million for the same period in 2022[11]. - The largest component of the cost of sales was diesel oil cost, which amounted to approximately HK$28.1 million for the three months ended 30 June 2023, representing approximately 95.9% of the cost of sales[64]. - The Group's cost of sales increased by approximately HK$11.2 million or 61.9%, from HK$18.1 million for the three months ended June 30, 2022, to HK$29.3 million for the three months ended June 30, 2023[67]. - The average selling price of diesel oil decreased by approximately 37.0% from HK$8.56 per litre for the three months ended June 30, 2022 to HK$5.39 per litre for the three months ended June 30, 2023[61][66]. - The administrative expenses for the three months ended 30 June 2023 were approximately HK$1.773 million, a decrease from HK$2.061 million for the same period in 2022[11]. - Direct labour costs decreased from approximately HK$0.6 million to HK$0.2 million, reflecting a reduction in logistics support expenses[68]. - Administrative and other operating expenses decreased by approximately HK$0.3 million or 14.3%, from HK$2.1 million to HK$1.8 million[71]. Dividends and Shareholder Information - The Board does not recommend the payment of any dividend for the three months ended 30 June 2023[8]. - No dividends were recommended for the three months ended June 30, 2023, consistent with the previous year[82]. - Mr. Law Ming Yik holds a 62.78% interest in the Company through Fully Fort Group Limited[110]. - As of June 30, 2023, Mr. Law Ming Yik holds 251,110,000 shares, representing a 62.78% shareholding in the company[117]. - Fully Fort Group Limited, owned 100% by Mr. Law Ming Yik, is the beneficial owner of the same 251,110,000 shares, also reflecting a 62.78% shareholding[117]. Corporate Governance - The Company has established an Audit Committee and a Nomination Committee to ensure compliance with governance standards[123]. - The Nomination Committee consists of two independent non-executive Directors and one executive Director, with Mr. Law Ming Yik serving as the chairman[131]. - The Remuneration Committee consists of two independent non-executive Directors and one executive Director, ensuring no Director determines their own remuneration[138]. - The Company is committed to high corporate governance standards and has complied with the Corporate Governance Code throughout the reporting period[145]. - The Company will continuously review and improve its corporate governance practices and standards[145]. Capital Expenditure and Commitments - Capital expenditure during the reporting period was approximately HK$3.6 million, related to upgrading information technology systems[80]. - As of June 30, 2023, the Group had capital commitments of approximately HK$1.7 million for the acquisition of property and equipment[78]. - The Group plans to utilize approximately HK$5.0 million for upgrading its information technology systems, with completion expected by 31 March 2024[100]. - The Group has allocated HK$15.0 million for the purchase of diesel tank wagons, with HK$12.4 million remaining unutilized[100]. - An allocation of HK$12.5 million was made for expanding manpower, with HK$1.7 million remaining unutilized[100]. - The Group's working capital allocation is HK$2.3 million, with HK$13.1 million utilized to date[100]. Environmental Compliance - No significant adverse effects on the environment have been reported, and the Group complies with all applicable environmental laws[101]. - The Group has not faced any prosecution or penalties for environmental law violations as of the report date[105]. Taxation - The Group did not provide for Hong Kong profits tax for the three months ended June 30, 2023, as there were no assessable profits during the period[38]. - The Group's income tax expenses were nil for both the three months ended June 30, 2022, and June 30, 2023[72]. - The Group's entities established in the Cayman Islands and the British Virgin Islands are exempt from income tax, impacting overall tax expenses[38].
申港控股(08631) - 2024 Q1 - 季度财报