Financial Performance - For the three months ended September 30, 2023, the company reported revenue of HKD 39,150,000, a 18.5% increase from HKD 33,020,000 in the same period of 2022[3] - For the nine months ended September 30, 2023, total revenue reached HKD 105,624,000, up 11.5% from HKD 94,795,000 year-on-year[3] - The company's profit before tax for the three months ended September 30, 2023, was HKD 1,339,000, a decrease of 81.8% compared to HKD 7,354,000 in the same quarter of 2022[3] - The net profit for the nine months ended September 30, 2023, was HKD 2,133,000, down 88.5% from HKD 18,518,000 in the same period of 2022[3] - The company reported a total comprehensive income of HKD 930,000 for the three months ended September 30, 2023, compared to HKD 5,858,000 in the same period of 2022[3] - Total comprehensive income for the nine months ended September 30, 2023, decreased by approximately HKD 16,132,000 or 90.3% to approximately HKD 1,742,000 compared to HKD 17,874,000 for the same period in 2022[40] Revenue Breakdown - Revenue from recruitment services in Hong Kong for the three months ended September 30, 2023, was HKD 20,473,000, a decrease of 10.6% from HKD 22,769,000 in the previous year[12] - The company reported a significant increase in revenue from dispatch and payroll services in Hong Kong, which rose to HKD 13,816,000 for the three months ended September 30, 2023, compared to HKD 5,201,000 in the same period of 2022[12] - For the nine months ended September 30, 2023, revenue from recruitment services decreased by approximately HKD 9,503,000 or 12.3%, while revenue from dispatch and payroll services significantly increased by approximately HKD 20,332,000 or 117.6%[22] - Recruitment service revenue decreased by approximately HKD 9,503,000 or 12.3% to about HKD 68,001,000 for the nine months ended September 30, 2023, from HKD 77,504,000 in the previous year[30] - The revenue from dispatch and payroll services increased by approximately HKD 20,332,000 or 117.6% to about HKD 37,623,000 for the nine months ended September 30, 2023[31] Employee Costs - Employee costs for the three months ended September 30, 2023, increased to HKD 31,327,000, a 58.5% rise from HKD 19,759,000 in the previous year[3] - Employee costs rose to approximately HKD 82,138,000 for the nine months ended September 30, 2023, representing 77.8% of total revenue, compared to 60.4% in the previous year[34] - The decrease in comprehensive income is attributed to three main factors: (i) a reduction in recruitment service revenue reflecting changes in the employment market dynamics; (ii) increased employee costs due to expansion and hiring in Hong Kong and Singapore; and (iii) the Singapore business is still in its early stages and requires time to establish in the local market[40] Future Outlook and Strategy - The company has not disclosed specific future outlook or guidance in the provided documents[3] - The company aims to capture more business opportunities through its agile teams in Hong Kong and mainland China, despite challenges in the recruitment industry[20] - The company plans to focus on industries with recovery potential and invest in dedicated teams for recruitment services in Hong Kong, mainland China, and Singapore[29] - The company is focusing on enhancing its team in mainland China to adapt to the rapidly changing environment and maintain high-quality professional services[24] Corporate Governance - The company has complied with the corporate governance code as set out in the GEM Listing Rules during the nine months ended September 30, 2023[55] - All directors confirmed compliance with the trading standards and the relevant code of conduct for securities transactions during the nine months ended September 30, 2023[56] - The Audit Committee was established on September 13, 2018, in accordance with GEM Listing Rule 5.28 and is currently composed of three independent non-executive directors[57] - The main responsibilities of the Audit Committee include reviewing and supervising financial statements and financial reporting, as well as monitoring internal control procedures and risk management systems[58] - The Audit Committee has reviewed the unaudited condensed consolidated financial statements for the nine months ended September 30, 2023, and provided opinions and recommendations on them[58] Shareholder Information - As of September 30, 2023, KJE Limited and Caiden Holdings Limited each hold 600,000,000 shares, representing approximately 75% of the issued share capital[47] - The shares held by KJE Limited are owned by Mr. Chan Ka Kin, Mr. Chan Ka On, and Mr. Chan Ka Sing, each holding approximately 33.33%[45] - No share options have been granted, exercised, cancelled, or lapsed under the share option scheme since its adoption on September 13, 2018, and there are no unexercised share options as of September 30, 2023[50] - The company and its subsidiaries did not purchase, sell, or redeem any of the company's listed securities during the nine months ended September 30, 2023[53] Dividends - The board did not recommend the payment of an interim dividend for the nine months ended September 30, 2023, compared to no dividend in 2022[18] - The board does not recommend the payment of an interim dividend for the nine months ended September 30, 2023[41]
高奥士国际(08042) - 2023 Q3 - 季度财报