Financial Performance - Revenue for the three months ended September 30, 2023, was HKD 51,990,000, representing an increase of 12.9% compared to HKD 46,001,000 for the same period in 2022[5] - Gross profit for the nine months ended September 30, 2023, was HKD 39,678,000, down 11.3% from HKD 44,673,000 in the same period of 2022[5] - The company reported a net loss of HKD 800,000 for the three months ended September 30, 2023, compared to a profit of HKD 528,000 in the same period of 2022[5] - Revenue for the nine months ended September 30, 2023, was HKD 153,544,000, a decrease of 9.1% from HKD 168,929,000 in the same period of 2022[17] - The company recorded a net profit attributable to shareholders of approximately HKD 0.3 million for the nine months ended September 30, 2023, down from HKD 6.2 million in the same period of 2022[38] Expenses and Costs - Total comprehensive expenses for the three months ended September 30, 2023, amounted to HKD 1,609,000, a significant decrease from HKD 10,640,000 in the same period of 2022[7] - The company incurred financing costs of HKD 893,000 for the three months ended September 30, 2023, compared to HKD 328,000 in the same period of 2022, reflecting a 172% increase[5] - Financing costs for the nine months ended September 30, 2023, totaled HKD 2,322,000, an increase of 102.5% compared to HKD 1,145,000 in 2022[23] - Income tax expense for the nine months ended September 30, 2023, was HKD 5,384,000, an increase of 43.2% from HKD 3,761,000 in 2022[24] - Selling and distribution expenses decreased by 17.1% to approximately HKD 9.1 million, while administrative expenses increased by 15.4% to approximately HKD 26.7 million[36] Revenue Breakdown - Revenue from the key product "封裝膠" increased to HKD 29,742,000 for the three months ended September 30, 2023, up 38.1% from HKD 21,550,000 in 2022[17] - Revenue from "鍵合線" decreased to HKD 20,524,000 for the three months ended September 30, 2023, down 7.2% from HKD 22,124,000 in 2022[17] - Revenue from mainland China (excluding Hong Kong) for the nine months ended September 30, 2023, was HKD 152,605,000, a decrease of 9.0% from HKD 167,670,000 in 2022[20] - The revenue from bonding wire products decreased by 11.3% to approximately HKD 73.1 million, while the revenue from packaging adhesive products slightly decreased by 1.8% to approximately HKD 75.3 million[32] Future Outlook and Strategy - The company plans to continue its focus on the development and production of semiconductor packaging materials, aiming for market expansion in the upcoming quarters[12] - The management remains optimistic about future growth despite the current financial challenges, emphasizing ongoing investment in new technologies and product development[12] - The company plans to focus on developing advanced semiconductor materials suitable for electric vehicles, mini-LED, artificial intelligence, and 5G communications industries[31] - The company anticipates growth in demand for bonding wires and packaging adhesives in the coming years, driven by the recovery of the market and the rapid growth of the 5G industry[43] - The company expects new products to contribute to revenue in the coming years, particularly with the rapid development of 5G networks[43] Corporate Governance - The company has complied with the corporate governance code as per GEM Listing Rules during the reporting period[64] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated results and found them compliant with applicable accounting standards and GEM Listing Rules[71] - The company plans to continue improving its corporate governance practices to ensure compliance with statutory requirements and recent developments[66] - There are no known competitive interests held by directors or controlling shareholders that may conflict with the company's business[63] - The company has established a clear distinction between the roles of the chairman and the CEO, with the chairman being the founder, which is believed to benefit the company's operational efficiency[64] Share Capital and Equity - The total equity as of September 30, 2023, was HKD 216,301,000, down from HKD 243,185,000 as of January 1, 2022[10] - As of September 30, 2023, the company has issued share capital of HKD 7,055,000, divided into 705,500,000 shares with a par value of HKD 0.01 each[53] - Chow Investment Group Limited holds 100% equity in the company, owning 357,000,000 shares, which is considered as having interests under the Securities and Futures Ordinance[59] - The company has not granted any stock options under the stock option plan since its adoption, and there are no unexercised stock options as of September 30, 2023[62] - The stock option plan allows for a maximum of 68,000,000 shares to be granted, which is 10% of the shares issued at the time of listing on GEM[60]
骏码半导体(08490) - 2023 Q3 - 季度财报