Financial Performance - For the three months ended December 31, 2022, the company reported a revenue of HKD 11,008,000, a decrease of 13.7% compared to HKD 12,759,000 in the same period of 2021[2] - The cost of goods sold for the same period was HKD 8,279,000, resulting in a gross profit of HKD 2,729,000, down from HKD 2,850,000 in the previous year[2] - Operating loss increased to HKD 4,225,000 from HKD 2,128,000 year-over-year, reflecting a significant decline in profitability[2] - The net loss for the period was HKD 4,735,000, compared to a net loss of HKD 2,301,000 in the prior year, indicating a worsening financial position[2] - The company reported a loss of HKD 4,735,000 for the quarter, compared to a loss of HKD 2,301,000 in the same quarter of the previous year[33] Assets and Equity - The company's total assets decreased to HKD 54,289,000 as of December 31, 2022, down from HKD 102,613,000 at the end of March 2022[5] - Cash and cash equivalents significantly dropped to HKD 36,554,000 from HKD 90,259,000, highlighting liquidity concerns[5] - The company reported a total equity attributable to owners of the company of HKD (19,805,000), compared to HKD (9,037,000) in the previous period, indicating increased financial distress[5] - The fair value of the company's investment in a subsidiary, Maokai Kwai Chung, was HKD 6,000,000 as of December 31, 2022, representing 11.1% of the total assets[31] Revenue Breakdown - The media business generated revenue of HKD 7,759,000, while the watch and automotive segments contributed HKD 3,249,000, totaling HKD 11,008,000[13] Expenses and Liabilities - The company incurred a loss before tax of HKD 4,737,000, which includes unallocated expenses of HKD 1,340,000[13] - The depreciation expense for property, plant, and equipment was HKD 36,000 for the quarter, compared to HKD 69,000 in the previous year[18] - The company has not incurred any significant contingent liabilities or guarantees as of December 31, 2022[30] Share Information - The average number of issued ordinary shares was 400,900,000, resulting in a basic and diluted loss per share of HKD 1.18, compared to HKD 0.57 in the previous year[22] Dividends and Income - The company did not declare any dividends for the quarter ended December 31, 2022, consistent with the previous year[23] - The company recorded interest income of HKD 2,000 and government grants of HKD 21,000 during the quarter[17] Accounting Standards and Tax - The company has not adopted any new accounting standards that would significantly impact its financial statements for the reporting period[9] - The Hong Kong profit tax rate applied for the quarter was 16.5%, consistent with the previous year[19] Financing - The company received financing of HKD 125,000,000 from a subsidiary, with HKD 60,000,000 drawn down as of December 31, 2022[29]
万华媒体(00426) - 2023 Q3 - 季度财报