Financial Performance - Revenue for the three months ended September 30, 2023, was HKD 230,536,000, a decrease of 11.3% compared to HKD 259,973,000 for the same period in 2022[5] - Gross profit for the nine months ended September 30, 2023, was HKD 40,933,000, representing an increase of 14.4% from HKD 35,888,000 in the same period last year[5] - The company reported a profit before tax of HKD 4,753,000 for the three months ended September 30, 2023, down 29.0% from HKD 6,709,000 in the previous year[5] - Basic earnings per share for the nine months ended September 30, 2023, was 53.8 HK cents, a decrease of 29.5% compared to 76.3 HK cents for the same period in 2022[5] - Total comprehensive income for the nine months ended September 30, 2023, was HKD 11,684,000, down from HKD 15,261,000 in the same period last year[5] - The group recorded a net other loss of approximately HKD 28,000 for the nine months ended September 30, 2023, compared to a net other income of approximately HKD 2.4 million in the same period of 2022[29] - The group's after-tax net profit for the nine months ended September 30, 2023, decreased by approximately 23.4% to about HKD 11.7 million, compared to HKD 15.3 million for the same period in 2022[32] Expenses and Costs - The company’s administrative expenses for the three months ended September 30, 2023, were HKD 9,243,000, an increase of 2.9% from HKD 8,979,000 in the previous year[5] - The company’s financing costs for the nine months ended September 30, 2023, were HKD 3,297,000, slightly down from HKD 3,347,000 in the same period last year[5] - Other income for the three months ended September 30, 2023, was HKD 965,000, a decrease of 57.7% compared to HKD 2,280,000 in the same period in 2022[5] - Administrative expenses increased by approximately 8.5% from about HKD 24.8 million to about HKD 27.0 million, primarily due to an increase in professional fees[30] - Administrative expenses increased by approximately HKD 2.0 million during the reporting period[32] Share Capital and Equity - The company completed a placement of 80,000,000 shares at a price of HKD 0.1 per share, raising approximately HKD 7,910,000, which increased the share capital by HKD 800,000[8] - The company’s total equity as of September 30, 2023, was HKD 98,904,000, an increase from HKD 74,244,000 as of September 30, 2022[7] - Basic earnings per share attributable to the company's owners decreased from HKD 15.3 million to HKD 11.7 million for the nine months ended September 30, 2023[25] - The number of weighted average ordinary shares for calculating basic earnings per share increased from 20,000 thousand shares to 21,729 thousand shares due to a share placement in June 2023[25] Corporate Governance - The company has established an audit committee, which includes three independent non-executive directors, responsible for reviewing annual reports and financial statements[57] - The remuneration committee, formed on June 24, 2017, includes one executive director and two independent non-executive directors, focusing on the remuneration policies for all directors and senior management[59] - The nomination committee, also established on June 24, 2017, is responsible for recommending appointments and succession planning for directors[60] - The company has complied with all applicable corporate governance codes as per GEM listing rules during the reporting period[54] - No directors or key executives held any interests or short positions in the company's shares as of September 30, 2023[49] - The company has not disclosed any other individuals with interests in the company's shares, apart from those mentioned in the report[52] - The board of directors includes three executive directors and three independent non-executive directors as of November 10, 2023[62] - The company has adopted a code of conduct for directors' securities transactions, adhering to GEM listing rules[53] Future Outlook and Strategy - The company remains optimistic about the prospects of the environmental cleaning services industry and is investing in vehicles, cleaning machines, and equipment to expand its business and enhance its capacity to undertake more projects[33] - The company aims to secure more tender contracts from Hong Kong government departments and private institutions that currently do not use its services, leveraging its substantial resources[36] - The company plans to enhance brand awareness and competitiveness through strengthening its sales and marketing teams over the next few years[36] Other Financial Activities - The company issued exchangeable bonds amounting to HKD 20 million on January 19, 2023, to offset existing loan obligations[42] - The exchangeable bonds grant the purchaser the right to exchange them for 50,000 shares of the subsidiary at an initial exchange price of HKD 400 per share[45] - The company did not declare or propose any interim dividends for the nine months ended September 30, 2023, consistent with the previous year[24] - The company implemented a share consolidation on June 23, 2023, merging every 20 existing shares with a par value of HKD 0.01 into one consolidated share with a par value of HKD 0.2, effective August 1, 2023[48] Impact of External Factors - The company will continue to support Hong Kong's pandemic prevention efforts while remaining vigilant about the ongoing impacts of the pandemic on its operations and financial condition[37]
立高控股(08472) - 2023 Q3 - 季度财报