Financial Performance - Revenue for the nine months ended September 30, 2023, amounted to approximately HK$82.7 million, representing an increase of approximately 2.4% compared to HK$80.8 million for the same period in 2022[9]. - Net loss for the nine months ended September 30, 2023, was approximately HK$4.7 million, a decrease of HK$5.0 million compared to a net profit of approximately HK$0.3 million for the same period in 2022[9]. - Basic and diluted loss per share for the nine months ended September 30, 2023, was approximately HK0.54 cents, compared to HK0.03 cents for the same period in 2022[9]. - Gross profit for the nine months ended September 30, 2023, was approximately HK$27.1 million, compared to HK$24.3 million for the same period in 2022, indicating an improvement in profitability[11]. - Operating profit for the nine months ended September 30, 2023, was HK$629,000, a decrease from HK$4.6 million for the same period in 2022[11]. - Total comprehensive loss for the period was approximately HK$5.8 million, compared to HK$2.1 million for the same period in 2022, reflecting increased losses[11]. - The Company reported finance costs of approximately HK$5.3 million for the nine months ended September 30, 2023, compared to HK$4.8 million for the same period in 2022[11]. - Other income and net gains for the nine months ended September 30, 2023, were approximately HK$2.4 million, a significant decrease from HK$8.4 million for the same period in 2022[11]. - The Company attributed a total comprehensive loss of HK$6.4 million to its owners for the nine months ended September 30, 2023, compared to HK$3.4 million for the same period in 2022[11]. - The total comprehensive loss for the period ended September 30, 2023, was HK$6.363 million, compared to a loss of HK$3.413 million for the same period in 2022[1]. - The accumulated losses increased to HK$300.479 million as of September 30, 2023, from HK$284.688 million as of January 1, 2022[1]. - The Group reported a loss attributable to owners of the Company of HK$5,462,000 for the nine months ended 30 September 2023, compared to a loss of HK$348,000 in the same period of 2022[48]. - Net loss attributable to owners of the Company increased by approximately HK$5.1 million from approximately HK$0.4 million in 2022 to approximately HK$5.5 million in 2023[77]. Revenue Breakdown - For the nine months ended 30 September 2023, the Group's revenue from concrete demolition services was HK$49,821,000, a decrease of 4.0% from HK$51,898,000 in the same period of 2022[38]. - Revenue from the manufacturing and trading of prefabricated construction components increased by 13.7% to HK$32,896,000, compared to HK$28,911,000 in the previous year[38]. - Revenue from concrete demolition services decreased by HK$2.1 million from HK$51.9 million in 2022 to HK$49.8 million in 2023, primarily due to a HK$12.8 million decrease in revenue from private sector projects, offset by a HK$10.7 million increase from public sector projects[67]. - Revenue from prefabricated construction increased by HK$4.0 million from HK$28.9 million in 2022 to HK$32.9 million in 2023, largely due to a low comparison base from lockdown restrictions in Guangdong Province in early 2022[68]. - Total revenue for the nine months ended 30 September 2023 was HK$82,717,000, slightly up from HK$80,809,000 in 2022, representing a growth of 2.4%[38]. Expenses and Liabilities - Staff costs for the period were HK$27,656,000, down 6.3% from HK$29,525,000 in the previous year[40]. - General and administrative expenses increased by approximately HK$0.6 million from approximately HK$28.2 million in 2022 to approximately HK$28.8 million in 2023, primarily due to an increase in impairment loss on trade receivables[71]. - As of September 30, 2023, the Group reported net current liabilities of HK$8.0 million, a decrease from net current assets of HK$12.0 million as of December 31, 2022[22]. - The Group held total cash and cash equivalents of HK$37.2 million as of September 30, 2023[23]. - Bond payables amounting to HK$5.0 million and HK$0.8 million are maturing in July 2024 and August 2024, respectively[23]. - Loans of HK$29.3 million due to a director are maturing in March 2025[28]. Corporate Governance and Compliance - The financial statements for the nine months ended September 30, 2023, have not been audited but have been reviewed by the Company's audit committee[26]. - The Group has not applied any new or amended HKFRS that have been issued but not yet effective for the current accounting period[30]. - The Audit Committee has reviewed the unaudited consolidated financial statements for the reporting period[103]. - The company complied with the applicable code provisions of the Corporate Governance Code, with some deviations explained[89]. - All Directors confirmed that they had no competing interests during the reporting period[87]. Future Outlook and Strategy - The Group is implementing continuous measures to tighten cost control over general expenses to achieve positive cash flow operations[28]. - The Group's ability to continue as a going concern is supported by various alternate funding options, including raising capital and asset sales[25]. - The Group established production facilities in Huizhou, PRC, for the production and R&D of precast concrete components, aiming to service construction projects in the Greater Bay Area and expand into overseas markets[59]. - The Company remains optimistic about future growth prospects in the construction industry in China and Hong Kong, driven by government support for major infrastructure projects[62]. - The Group's core philosophy focuses on "Building a Green World" and aims to optimize stakeholders' interests and maximize their value through quality and innovation[62]. Shareholder Information - As of September 30, 2023, substantial shareholders included Zhou Jin with 284,000,000 shares (28.15%), Huang Cheng with 188,620,000 shares (18.66%), and Zhu Zhou with 129,000,000 shares (12.76%)[86]. - As of September 30, 2023, none of the Directors or chief executives had any long positions in the shares or underlying shares of the company[79]. - The fixed rate bonds held by the chief executive amounted to HK$5,800,000, which are freely transferable and not convertible to shares[83]. Dividends and Share Options - The Board does not recommend the payment of dividends for the nine months ended September 30, 2023, consistent with the previous year[9]. - No dividend was recommended for the nine months ended 30 September 2023, consistent with the previous year[45]. - The company did not recommend any dividend payment for the reporting period, consistent with the previous year[96]. - No share options were granted, exercised, lapsed, or cancelled during the reporting period[97]. - The company and its subsidiaries did not purchase, sell, or redeem any of the company's listed securities during the reporting period[88]. - No stock options were granted, exercised, expired, or canceled during the reporting period[101].
朝威控股(08059) - 2023 Q3 - 季度财报