Financial Performance - Revenue for the nine months ended September 30, 2023, was approximately HKD 143.61 million, a decrease of about 30.86% compared to HKD 207.71 million for the same period in 2022[6] - The loss attributable to owners of the company for the nine months ended September 30, 2023, was approximately HKD 6.03 million, compared to a profit of HKD 2.64 million for the same period in 2022[6] - Basic loss per share for the nine months ended September 30, 2023, was approximately HKD 3.66 cents, compared to earnings of HKD 1.60 cents for the same period in 2022[6] - Gross profit for the nine months ended September 30, 2023, was approximately HKD 40.15 million, down from HKD 50.33 million for the same period in 2022[7] - The company reported a pre-tax loss of approximately HKD 5.42 million for the nine months ended September 30, 2023, compared to a pre-tax profit of HKD 2.57 million for the same period in 2022[7] - Total comprehensive loss for the nine months ended September 30, 2023, was approximately HKD 8.50 million, compared to a total comprehensive loss of HKD 4.63 million for the same period in 2022[8] - Revenue from finished watches for the nine months ended September 30, 2023, was HKD 93.70 million, down from HKD 168.31 million in 2022, representing a decline of approximately 44.4%[16] - Revenue from component kits increased to HKD 45.95 million for the nine months ended September 30, 2023, compared to HKD 34.97 million in 2022, marking an increase of about 31.5%[16] - The group reported a pre-tax loss of approximately HKD 6.03 million for the nine months ended September 30, 2023, compared to a profit of HKD 2.64 million in the same period of 2022[24] - The group’s revenue from Asia for the nine months ended September 30, 2023, was HKD 119.23 million, a decrease of approximately 34.1% from HKD 180.71 million in 2022[15] Cash and Financial Position - The company’s cash and cash equivalents as of September 30, 2023, were approximately HKD 30.16 million[8] - As of September 30, 2023, the group's cash and cash equivalents were approximately HKD 5.28 million, down from HKD 19.26 million as of September 30, 2022[39] - The group's current ratio as of September 30, 2023, was approximately 1.09, compared to 1.03 as of September 30, 2022[39] - The debt-to-equity ratio as of September 30, 2023, was approximately 378.21%, up from 170.11% as of September 30, 2022[40] Operational Focus and Strategy - The company plans to continue focusing on ODM manufacturing and expanding its distribution channels in the global watch market[10] - The group plans to continue focusing on core business development and improving product design to maximize long-term returns for shareholders[34] - The group will closely monitor market developments due to the uncertain business environment and potential economic slowdown in overseas markets[33] Market Conditions and Outlook - Future outlook remains cautious due to market volatility and competition in the watch manufacturing sector[10] - The group reported a significant decline in the watch industry index, dropping from 48.8 in Q2 2023 to 32.9 in Q3 2023, indicating weakened global demand and ongoing geopolitical tensions[31] Corporate Governance and Compliance - The company's share option plan was approved on June 20, 2018, and is valid for 10 years, aimed at rewarding contributions from eligible personnel[57] - The total number of shares involved in the share options granted cannot exceed 10% of the issued shares at any time without prior shareholder approval[57] - The company has adopted a code of conduct for directors' securities transactions, confirming compliance during the reporting period[62] - The audit committee was established on June 20, 2018, to review financial statements and oversee internal control procedures[63] - The financial information in the quarterly report has not been audited but has been reviewed by the audit committee[63] Dividends and Shareholder Returns - The group did not declare any dividends for the nine months ended September 30, 2023, consistent with the previous year[23] - The board decided not to declare any dividends during the reporting period[37] Other Information - The group has no capital commitments as of September 30, 2023[41] - No significant investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures during the reporting period[55] - No major investment or capital asset plans for the upcoming year beyond those disclosed in the quarterly report[56] - The group incurred depreciation expenses of HKD 3.78 million for property, plant, and equipment for the nine months ended September 30, 2023, down from HKD 4.12 million in 2022[18] - The group is subject to a corporate income tax rate of 25% for its subsidiaries established in China[19] - The Hong Kong profits tax rate applicable to the group is 16.5%, with a two-tiered system allowing for a reduced rate of 8.25% on the first HKD 2 million of profits[21] - The quarterly report contains forward-looking statements based on various assumptions regarding the company's future business strategies and operating environment[65] - The board believes that the current management structure is effective despite deviations from corporate governance codes[61] - The company has not granted any share options since the plan was adopted on June 28, 2018[58]
恒伟集团控股(08219) - 2023 Q3 - 季度财报