Financial Performance - The Company reported a loss attributable to owners of approximately HK$29,045,000 for the nine months ended 30 September 2023, compared to a loss of approximately HK$15,220,000 in the same period last year[8]. - For the nine months ended September 30, 2023, the loss increased to HK$29,618,000 from a loss of HK$15,661,000 in the same period of 2022, indicating a worsening financial performance[14]. - The total comprehensive income for the period attributable to owners of the company was a loss of HK$7,576,000 for the three months ended September 30, 2023, compared to a profit of HK$1,354,000 in the same period of 2022[15]. - The loss per share for the nine months ended September 30, 2023, was HK$3.86, compared to HK$2.45 for the same period in 2022, reflecting increased losses per share[15]. - The company experienced a total comprehensive expense of HK$29,338,000 for the nine months ended September 30, 2023, compared to HK$15,852,000 in the same period of 2022[14]. - The profit for the period attributable to owners of the Company for the three months ended 30 September 2023 was a loss of HK$7,576,000, compared to a profit of HK$1,351,000 for the same period in 2022[67]. - For the nine months ended September 30, 2023, the company reported a loss of HK$29,045,000, compared to a loss of HK$15,220,000 for the same period in 2022, representing an increase in loss of 91.5%[87]. - The total comprehensive income/(expense) for the period ended September 30, 2023, was a loss of HK$28,765,000, compared to a loss of HK$15,411,000 for the same period in 2022, indicating a deterioration of 86.1%[87]. - As of September 30, 2023, the accumulated losses stood at HK$333,855,000, an increase from HK$301,186,000 as of September 30, 2022, reflecting a rise of 10.8%[87]. Revenue and Profitability - Revenue from continuing operations was approximately HK$120,859,000 for the Period, representing an increase of approximately HK$19,619,000 from approximately HK$101,240,000 last year[8]. - Revenue for the nine months ended September 30, 2023, increased by 19.5% to HK$120,859,000 from HK$101,240,000 in the prior year[32]. - Revenue from the food and beverage business generated revenue of HK$107,472,000 for the nine months ended September 30, 2023, up from HK$82,725,000 in 2022, representing a growth of 29.9%[30]. - Revenue for the three months ended September 30, 2023, was HK$41,514,000, a slight decrease of 0.12% compared to HK$41,564,000 for the same period in 2022[30]. - Revenue from the provision of children education services was approximately HK$3,360,000, compared to HK$3,131,000 in the previous year[126]. - Revenue from external customers of China Demeter Securities Limited amounted to approximately HK$7,151,000, a decrease from HK$12,194,000 in the same period last year[133]. Expenses and Costs - The cost of sales and services for the nine months ended 30 September 2023 was HK$40,316,000, an increase from HK$33,033,000 in the previous year[12]. - General and administrative expenses for the nine months ended 30 September 2023 were HK$99,209,000, compared to HK$87,644,000 in the same period last year[12]. - Interest on lease liabilities increased to HK$813,000 for the three months ended 30 September 2023, compared to HK$485,000 in the same period last year[48]. - Total finance costs for the three months ended 30 September 2023 were HK$863,000, slightly down from HK$890,000 in the previous year[48]. - The Group's total income tax expense for the nine months ended 30 September 2023 was HK$67,000, compared to HK$18,000 for the same period last year[52]. Dividends and Shareholder Returns - The Board of Directors does not recommend the payment of any interim dividend for the nine months ended 30 September 2023, consistent with the previous year[8]. - The Company did not recommend the payment of any interim dividend for the nine months ended 30 September 2023, consistent with the previous year where no dividend was paid[79]. - The company reported general and administrative expenses of HK$178,000 for the period[63]. Disposals and Acquisitions - The Company completed the disposal of Talent Ford Group Limited for a total cash consideration of HK$1,300,000, resulting in a gain on disposal of HK$316,000[96][104]. - The Company also disposed of Circle Trend Group Limited for HK$925,000, resulting in a gain on disposal of HK$407,000[102][104]. - The Company disposed of 15.93% of its equity interest in Wealthy Leader Limited, reducing its continuing interest to 84.07%, with proceeds of approximately HK$3,000 received in cash[89]. - The cash consideration received from the disposal of the food and beverage business was HK$29,000, while the cash and cash equivalents disposed of amounted to HK$372,000, resulting in a net cash outflow of HK$343,000[64]. Financial Position and Equity - The total equity attributable to owners of the company as of September 30, 2023, was HK$100,036,000, a decrease from HK$132,171,000 as of September 30, 2022, indicating a decline of 24.2%[87]. - The company’s financial position reflects ongoing challenges, with a significant increase in losses and a decrease in total equity, necessitating strategic reassessment[87]. - The company's reserves as of September 30, 2023, included a capital reserve of HK$61,545,000 and a share premium of HK$212,905,000, remaining unchanged from the previous year[87]. Corporate Governance - The company has complied with the Corporate Governance Code as set out in the GEM Listing Rules[195]. - The company has adopted a code of conduct regarding securities transactions by directors, confirming compliance during the period[194]. - The Audit Committee consists of three independent non-executive Directors[200]. - The Audit Committee has reviewed the third quarterly results for the nine months ended 30 September 2023[200]. - The Board comprises three executive Directors and three independent non-executive Directors[200].
国农金融投资(08120) - 2023 Q3 - 季度财报