Financial Performance - For the nine months ended March 31, 2023, the group's revenue was approximately HKD 99,854,000, an increase of about HKD 24,606,000 or 32.7% compared to the same period last year[12]. - The gross profit for the nine months ended March 31, 2023, increased by approximately HKD 39,364,000 or 209.8% to about HKD 58,123,000[12]. - The earnings per share for the nine months ended March 31, 2023, was approximately HKD 0.0352, compared to a loss per share of HKD 0.0411 for the same period last year[12]. - For the three months ended March 31, 2023, the revenue was HKD 33,303,000, compared to HKD 23,798,000 for the same period last year, reflecting a growth of approximately 39.9%[13]. - The net profit for the three months ended March 31, 2023, was HKD 3,386,000, compared to a loss of HKD 24,660,000 for the same period last year[13]. - The total comprehensive income for the nine months ended March 31, 2023, was HKD 22,593,000, compared to a loss of HKD 25,664,000 for the same period last year[13]. - The company reported a loss of HKD 24,685,000 during the period, compared to a profit of HKD 21,146,000 in the same period last year, indicating a significant shift in performance[18]. - Profit for the period was approximately HKD 21,019,000 for the nine months ended March 31, 2023, compared to a loss of approximately HKD 25,209,000 for the same period in 2022, driven by increased revenue and improved gross profit margin[80]. Expenses and Costs - The company reported a significant reduction in selling expenses, which decreased from HKD 20,177,000 to HKD 3,648,000 for the nine months ended March 31, 2023[13]. - The company’s administrative and other operating expenses increased to HKD 32,045,000 for the nine months ended March 31, 2023, from HKD 24,491,000 in the previous year[13]. - Financing costs increased by approximately HKD 185,000 or 91.1% to approximately HKD 388,000, mainly due to an increase in interest expenses from borrowings and bank overdrafts[77]. - Employee costs, including director remuneration, amounted to approximately HKD 18,075,000 for the nine months ended March 31, 2023, compared to approximately HKD 11,506,000 for the same period in 2022, representing a year-on-year increase of 57.5%[89]. Revenue Segmentation - The e-commerce business contributed approximately HKD 47,425,000 or 47.5% of total revenue for the nine months ended March 31, 2023, compared to HKD 3,677,000 or 4.9% for the same period in 2022[59]. - The revenue from e-commerce sales for the nine months ended March 31, 2023, was HKD 464, up from HKD 208 in the same period of 2022, reflecting a growth of 123.1%[34]. - The revenue from network management and security services for the nine months ended March 31, 2023, was HKD 3,976, compared to HKD 3,363 in the same period of 2022, showing an increase of 18.3%[34]. - The total revenue from network connection services for the nine months ended March 31, 2023, was HKD 39,124, an increase from HKD 36,803 in the same period of 2022, reflecting a growth of 6.3%[34]. - The total revenue from hardware sales for the nine months ended March 31, 2023, was HKD 3,686, down from HKD 23,258 in the same period of 2022, representing a decline of 84.2%[34]. Strategic Developments - The company has transitioned its reporting currency from Malaysian Ringgit to Hong Kong Dollar to better reflect its financial performance for shareholders and potential investors[24]. - A new subsidiary, Magic Text Blockchain Technology Limited, was established in April 2023 to provide customized solutions for virtual asset exchanges and NFT trading platforms[52]. - The company signed a strategic cooperation memorandum with 羅馬 (元宇宙) on December 5, 2022, to leverage each other's expertise in decentralized blockchain applications and explore cryptocurrency-related business opportunities[56]. - The company is actively considering various opportunities and adjusting its business strategies to drive growth in response to the evolving e-commerce landscape in China[59]. - The company plans to streamline its management system and adjust its operational and sales strategies in Malaysia as economic activities recover post-COVID-19[64]. Governance and Compliance - The financial statements for the nine months ended March 31, 2023, were prepared in accordance with International Financial Reporting Standards and the GEM Listing Rules[22]. - The company has adopted and complied with the corporate governance code as per GEM listing rules for the nine months ended March 31, 2023, with some deviations noted[106]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial results for the nine months ended March 31, 2023, and confirmed compliance with applicable accounting standards and GEM listing rules[104]. - The company has implemented appropriate checks and balances through the board and three independent non-executive directors, ensuring effective management and business planning[106]. Market and Economic Conditions - Revenue from the Malaysian market decreased by approximately HKD 19,662,000 or 28.1% to about HKD 50,273,000 for the nine months ended March 31, 2023, primarily due to the completion of significant one-time hardware sales and exchange rate impacts[61]. - The gross profit margin in the Malaysian market dropped to 20.9% for the nine months ended March 31, 2023, down from 25.0% for the same period in 2022[61]. - The virtual asset market capitalization increased from approximately USD 10.3 billion in 2013 to about USD 1,076.6 billion in January 2023, representing a significant growth potential for blockchain technology and virtual assets[63]. Shareholder Information - The major shareholder, Mr. Yu, holds 416,364,000 shares, representing approximately 69.39% of the company's equity[92]. - Thrive Harvest Limited, controlled by Mr. Yu, holds 303,864,000 shares, approximately 50.64% of the issued share capital[92]. - The board does not recommend the payment of dividends for the nine months ended March 31, 2023, consistent with the previous year[86]. Employee and Training Initiatives - The group encourages and funds employees to participate in development or training courses to support their professional growth[89]. - As of March 31, 2023, the group employed 131 staff, an increase from 121 staff as of March 31, 2022[89].
比特元宇宙(08645) - 2023 Q3 - 季度财报