Financial Performance - For the three months ended September 30, 2023, the revenue was HK$113,107,000, representing an increase of 19.1% compared to HK$94,946,000 for the same period in 2022[12]. - The gross profit for the same period was HK$7,528,000, a decrease of 7.1% from HK$8,104,000 in the previous year[12]. - Profit before taxation was HK$279,000, down 77.9% from HK$1,262,000 in the prior year[12]. - The profit for the period was HK$117,000, a decline of 87.8% compared to HK$962,000 for the same period in 2022[12]. - Basic and diluted earnings per share were HK$0.02, down from HK$0.22 in the previous year[13]. - Total comprehensive income for the period was HK$66,000, compared to HK$210,000 in the same period last year[13]. - Other income decreased significantly from HK$873,000 in Q3 2022 to HK$51,000 in Q3 2023, a drop of 94.2%[32]. - The total comprehensive income for the period ended September 30, 2023, was HK$66,000, compared to HK$1,168,000 for the same period in 2022[58]. Revenue Sources - Revenue from Environmental and Cleaning services increased to HK$112,565,000 in Q3 2023, up from HK$92,685,000 in Q3 2022, representing a growth of 21.4%[30]. - For the three months ended September 30, 2023, the environmental and cleaning services in Hong Kong generated revenue of approximately HK$108.2 million, an increase from approximately HK$88.0 million for the same period in 2022[79]. - The increase in revenue was mainly due to an additional contribution of approximately HK$20.2 million from the environmental and cleaning services business in Hong Kong, attributed to several new cleaning service contracts obtained during the period[109][112]. Expenses and Costs - Selling and marketing expenses increased to HK$1,028,000 from HK$694,000, reflecting a rise of 48.2%[12]. - Administrative expenses decreased to HK$6,048,000 from HK$6,865,000, a reduction of 11.9%[12]. - Finance costs increased to HK$199,000 from HK$146,000, marking a rise of 36.3%[12]. - Staff costs, including Directors' emoluments, rose to HK$59,653,000 in Q3 2023, compared to HK$49,328,000 in Q3 2022, an increase of 20.9%[38]. - The Group is facing increased labor costs and high turnover rates in the environmental and cleaning services sector, prompting efforts to pass costs onto customers and implement stricter cost control measures[100][101]. Profitability and Losses - Interest income from Money Lending decreased to HK$542,000 in Q3 2023, down from HK$2,261,000 in Q3 2022, a decline of 76.0%[30]. - The net profit for the environmental and cleaning business in Hong Kong for the three months ended September 30, 2023, was approximately HK$2.1 million, down from approximately HK$3.5 million for the same period in 2022, excluding one-off subsidies[81]. - The decrease in net profit is attributed to rising manpower service costs and a decline in prices from some customers upon contract renewals[81]. - The Group recognized an impairment loss of approximately HK$54.1 million on past due loans and interest receivables due to borrowers' financial difficulties[86]. - Interest income from the money lending business decreased to approximately HK$0.5 million for the three months ended September 30, 2023, down from approximately HK$2.3 million in 2022, mainly due to a decrease in average loan balances and interest rates[109][112]. Taxation and Dividends - The subsidiaries incorporated in the PRC are subject to a 25% Enterprise Income Tax rate for the three months ended September 30, 2023, unchanged from 2022[49]. - The Group is not subject to any income tax in the Cayman Islands and the British Virgin Islands[44][48]. - The Board does not recommend the payment of any dividend for the three months ended September 30, 2023[111][114]. Corporate Governance - The Company has complied with the Corporate Governance Code and GEM Listing Rules for the three months ended September 30, 2023, with some deviations noted[136]. - The roles of chairman and chief executive officer are currently held by the same individual, Mr. Yu Shaoheng, which deviates from Code provision A.2.1[138]. - The Company has adopted a code of conduct regarding securities transactions by Directors, with no reported noncompliance during the reporting period[128]. - There are no competing interests among Directors or controlling shareholders during the reporting period[129]. Future Outlook and Strategies - The Group plans to strengthen marketing efforts to expand market share in commercial and residential sectors and explore new environmental and cleaning services to enhance service offerings[99]. - A cautious and prudent approach will continue to guide the Group's money lending strategies, with a focus on borrowers with sound financial abilities[103][106]. - The management has refined marketing strategies in Shanghai to attract new customers and reduce unnecessary expenditures through efficient workflows and stringent cost control[102][105].
宝联控股(08201) - 2024 Q1 - 季度财报