Financial Performance - For the three months ended September 30, 2023, the Group's revenue was HK$7,348,000, representing a 74.1% increase from HK$4,209,000 in the same period of 2022[10]. - The gross profit for the three months ended September 30, 2023, was HK$5,296,000, up 87.5% from HK$2,823,000 in the prior year[10]. - The loss from operations for the three months ended September 30, 2023, was HK$141,000, a significant improvement compared to a loss of HK$992,000 in the same period of 2022[10]. - The profit for the period from discontinued operations for the three months ended September 30, 2023, was HK$1,704,000, compared to HK$16,000 in the same period of 2022[10]. - The total loss before taxation for the nine months ended September 30, 2023, was HK$2,188,000, which is an increase from a loss of HK$879,000 in the same period of 2022[10]. - The Group's total revenue for the nine months ended September 30, 2023, was HK$20,679,000, a 25.5% increase from HK$16,493,000 in the same period of 2022[10]. - For the three months ended September 30, 2023, the profit for the period was HK$1,419,000, compared to a loss of HK$1,051,000 in the same period of 2022, representing a turnaround of approximately 234%[14]. - For the nine months ended September 30, 2023, the loss for the period was HK$1,032,000, compared to a loss of HK$820,000 in the same period of 2022, indicating an increase in loss of approximately 26%[14]. - The total profit/(loss) for the period attributable to owners of the Company for the three months ended September 30, 2023, was HK$1,420,000, compared to a loss of HK$1,046,000 in the same period of 2022[12]. - The total comprehensive income for the nine months ended September 30, 2023, was HK$1,031,000, compared to a total comprehensive expense of HK$819,000 in the same period of 2022[14]. Expenses and Costs - Research and development expenses for the nine months ended September 30, 2023, were HK$8,423,000, compared to HK$7,570,000 in the same period of 2022, reflecting a 11.3% increase[10]. - The administrative expenses for the nine months ended September 30, 2023, were HK$5,409,000, up from HK$4,039,000 in the same period of 2022, indicating a 33.9% increase[10]. - Total staff costs for the three months ended September 30, 2023, were HK$4,646,000, an increase of 10.7% compared to HK$4,200,000 in the same period of 2022[40]. - Cost of sales increased by approximately HK$2,238,000 or 45.4% to approximately HK$7,165,000, mainly due to increased purchases[68]. - Administrative and other operating expenses rose by approximately HK$2,052,000 or 15.4% to approximately HK$15,344,000, primarily due to increased staff costs and professional fees[70]. Discontinued Operations - The company reported a profit from discontinued operations of HK$1,704,000 for the three months ended September 30, 2023, compared to a profit of HK$16,000 in the same period of 2022[14]. - For the nine months ended September 30, 2023, the profit from discontinued operations was HK$1,156,000, up from HK$59,000 in the prior year, indicating a strong performance in this segment[53]. - The discontinued Money Lending Business generated a profit of approximately HK$1,156,000 for the Period, significantly up from approximately HK$59,000 in 2022, mainly due to the reversal of impairment loss on loan and interest receivables[79]. Shareholder Information - As of September 30, 2023, Mr. Liu Guanzhou holds 370,000,000 shares, representing approximately 29.07% of the company's total shares issued[104]. - The total number of shares issued as of September 30, 2023, is 1,272,640,000[104]. - Mr. Chiu Ngai Hung holds approximately 9.5% of the shares, totaling 120,865,955 shares[108]. - Ms. Zhang Jiahui, as the spouse of Mr. Liu Guanzhou, holds approximately 29.07% of the shares, totaling 370,000,000 shares[108]. Taxation and Compliance - The group did not make any provision for Hong Kong Profits Tax for both periods as there were no assessable profits[41]. - The Group's subsidiary in the PRC is subject to a 25% Enterprise Income Tax rate, but no provision has been made due to estimated tax losses[44]. - The Group's operations in the Cayman Islands and the British Virgin Islands are not subject to income tax, providing a tax-efficient structure[43]. - The company has adopted a code of conduct regarding securities transactions by Directors, with no known non-compliance during the period[116]. Strategic Focus and Market Trends - The group aims to continue expanding its software platform services and exploring new market opportunities[25]. - The company plans to focus on growth prospects in fast-growing segments while maintaining its position in slower-growing areas[99]. - The increasing adoption of Big Data solutions is a key trend driving growth in the Hong Kong IT market, with export-oriented enterprises optimizing their operations[96]. - Digital transformation has accelerated due to COVID-19, with businesses leveraging advanced technologies to adapt and seize new opportunities[98]. - Hong Kong SMEs are increasingly deploying ERP and CRM solutions to enhance customer retention and loyalty, contributing to market growth[94]. Corporate Governance - The Audit Committee comprises three independent non-executive Directors, responsible for reviewing financial reporting and internal controls[111]. - The company did not purchase, sell, or redeem any of its listed securities during the period[117]. - There were no reported interests from Directors in any competing businesses during the period[110]. Name Change - The company changed its English name from "Aurum Pacific (China) Group Limited" to "Wuxi Life International Holdings Group Limited" on July 4, 2023[109]. - The company’s stock short name changed to "WUXI LIFE" effective from August 4, 2023[109].
悟喜生活(08148) - 2023 Q3 - 季度财报