Financial Performance - The company's revenue for the nine months ended September 30, 2023, increased to approximately HKD 157,158,000, representing an 8.78% growth compared to HKD 144,467,000 in the same period last year[25]. - EBITDA for the same period decreased by 11.23% to HKD 56,045,000, down from HKD 63,138,000[13]. - Net profit for the nine months fell by 43.63% to approximately HKD 16,704,000, compared to HKD 29,632,000 in the previous year[13]. - Basic and diluted earnings per share for the nine months ended September 30, 2023, were HKD 3.87, compared to HKD 7.06 for the same period in 2022, reflecting a decrease of 45.3%[79]. - The total profit attributable to the company's owners was HKD 15,473,000, compared to HKD 28,237,000 for the same period in 2022, representing a decrease of 45.3%[82]. - The total comprehensive income for the three months ended September 30, 2023, was HKD 6,902,000, down 34.0% from HKD 10,542,000 in the same period of 2022[79]. - For the nine months ended September 30, 2023, the profit attributable to the company's owners was HKD 15,473,000, down 45.5% from HKD 28,237,000 in the same period of 2022[110]. Revenue Breakdown - The revenue from elderly care services accounted for 75.07% of total revenue, with personal client rentals contributing HKD 78,337,000, which is 49.84% of the total[24]. - Revenue from elderly care services for the nine months ended September 30, 2023, was HKD 117,983,000, an increase of 8.5% from HKD 108,373,000 in the same period of 2022[93]. - Revenue from the sale of elderly-related products and health services was HKD 39,175,000, accounting for 24.93% of total revenue[24]. - Revenue from the sale of elderly-related products and healthcare services for the nine months ended September 30, 2023, was HKD 39,175,000, up 8.5% from HKD 36,094,000 in the previous year[93]. - Revenue from personal clients renting beds increased from approximately HKD 75,041,000 to HKD 78,337,000, a growth of about 4.39%[35]. - Revenue from the Social Welfare Department's improved purchase plan for rented beds rose from approximately HKD 29,524,000 to HKD 35,766,000, an increase of about 21.14%[30]. - Revenue from services provided on an immediate basis for the nine months ended September 30, 2023, was HKD 23,284,000, compared to HKD 19,857,000 in the same period of 2022, reflecting a 17.9% increase[95]. Cost and Expenses - Employee costs increased slightly from approximately HKD 71,708,000 to HKD 72,076,000, a rise of about 0.51%[42]. - The company incurred total employee costs of HKD 72,076,000 for the nine months ended September 30, 2023, slightly up from HKD 71,708,000 in the same period of 2022[79]. - The company recognized government subsidies of approximately HKD 3,221,000 for the nine months ended September 30, 2023, down from HKD 8,115,000 in the same period of 2022, a decrease of 60.3%[103]. - The company’s financing costs for the nine months ended September 30, 2023, were HKD 2,659,000, compared to HKD 2,212,000 in the same period of 2022, indicating an increase of 20.2%[79]. Shareholder Information - As of September 30, 2023, Mr. Yi holds 258,336,000 shares, accounting for approximately 64.58% of the total shares[60]. - As of September 30, 2023, Mr. Lei holds 36,032,000 shares, representing 9.01% of the total shares[60]. - The major shareholder, Ruihua, holds 248,700,000 shares, which is approximately 62.18% of the total shares[66]. - The company has a total of 400,000,000 issued shares as of September 30, 2023, which is the basis for calculating the percentage of shareholdings[62]. - The company’s major shareholders collectively control approximately 64.58% of the issued share capital as of September 30, 2023[71]. Strategic Initiatives - The company plans to enhance employee training and implement cost control measures to address rising labor costs and property rents[19]. - The management team is focused on expanding the network of elderly care homes in strategic locations to serve more elderly residents[20]. - The company has established a crisis response team to monitor the situation in its elderly care homes and improve care standards[19]. - The aging population in Hong Kong is projected to increase significantly, driving demand for elderly care services, which is expected to support industry growth[20]. Compliance and Governance - The company maintains compliance with the Securities and Futures Ordinance regarding the disclosure of interests and holdings[64]. - The audit committee has reviewed the financial results for the third quarter and confirmed that the financial statements are in accordance with applicable accounting standards[76]. - The company has not adopted any new accounting standards that have not yet come into effect, ensuring stability in financial reporting[87]. - The management is currently evaluating the impact of new accounting standards on the company's financial performance, although no significant effects have been identified yet[87]. Dividend Information - No dividends were recommended for the reporting period, consistent with the previous year[57]. - The company did not recommend any dividend for the nine months ended September 30, 2023, compared to no dividend declared for the same period in 2022[108]. - The company declared a final dividend of HKD 40,000,000 for the period, which is a significant cash outflow impacting retained earnings[82].
恒智控股(08405) - 2023 Q3 - 季度财报