Financial Performance - For the nine months ended September 30, 2023, the group recorded unaudited revenue of approximately HKD 186.3 million, an increase of approximately HKD 43.3 million or 30.3% compared to HKD 143.0 million for the same period in 2022[6]. - The unaudited loss (after tax) for the nine months ended September 30, 2023, was approximately HKD 8.4 million, a significant improvement from a loss of approximately HKD 17.7 million for the same period in 2022[6]. - Basic and diluted loss per share for the nine months ended September 30, 2023, was HKD 5.22, compared to HKD 13.41 for the same period in 2022[6]. - The group reported a gross profit of HKD 96.95 million for the nine months ended September 30, 2023, compared to HKD 77.76 million for the same period in 2022, reflecting a gross margin improvement[8]. - Operating loss for the nine months ended September 30, 2023, was HKD 7.72 million, a significant reduction from HKD 17.03 million for the same period in 2022[8]. - The total comprehensive loss for the nine months ended September 30, 2023, was HKD 8.35 million, compared to HKD 15.53 million for the same period in 2022[8]. - The company reported a pre-tax loss of HKD 8,278 thousand for the three months and HKD 9,732 thousand for the nine months ended September 30, 2023[21][23]. - The company reported a pre-tax loss of HKD 8,401,000 for the nine months ended September 30, 2023, compared to a loss of HKD 17,704,000 for the same period in 2022[37]. Revenue Breakdown - For the three months ended September 30, 2023, total revenue was HKD 50,325 thousand, with furniture and home accessories sales contributing HKD 31,401 thousand, rental income HKD 8,789 thousand, and hotel services HKD 10,135 thousand[21]. - For the nine months ended September 30, 2023, total revenue reached HKD 186,258 thousand, with furniture and home accessories sales at HKD 93,089 thousand, rental income HKD 21,624 thousand, and hotel services HKD 71,545 thousand[23]. - Revenue from external customers in Hong Kong for the nine months ended September 30, 2023, was HKD 123,229,000, up 40% from HKD 87,988,000 in 2022[32]. - Furniture sales revenue decreased by approximately 9.4% to HKD 93.1 million in Q3 2023, primarily due to a decline in retail sales in Hong Kong[42]. - Project engineering revenue surged approximately twofold to HKD 71.5 million in Q3 2023, compared to HKD 23.6 million in Q3 2022, driven by the completion of several projects[44]. Shareholder Information - The company has fully utilized the proceeds from the placements as of September 30, 2023[55][56][58]. - Following the share consolidation on July 28, 2023, the total number of issued shares was adjusted from 1,814,700,000 shares to 181,470,000 shares[57]. - As of September 30, 2023, the total number of issued shares was 190,080,000 after the share consolidation[63]. - John Warren MCLENNAN holds 41,450,000 shares, representing 21.81% of the company[60]. - Huang Yongwen holds 33,237,000 shares, representing 17.49% of the company[60]. - Double Lions Limited is a major shareholder with a beneficial interest of 41,450,000 shares, equating to 21.81%[66]. - The largest shareholder group, including Alison Siobhan Bailey and James Seymour Dickson Leach, collectively holds 40.48% of Double Lions Limited[1]. Corporate Governance - The audit committee, consisting of three independent non-executive directors, has reviewed the financial report[76]. - The company has adopted the corporate governance code and confirmed compliance, although there is a deviation regarding the roles of the chairman and CEO[78]. - The board consists of three executive directors and four independent non-executive directors, ensuring adequate checks and balances[78]. - The company has not granted any rights to directors for acquiring shares or debt securities during the reporting period[71]. - The company did not purchase, sell, or redeem any of its securities during the nine months ended September 30, 2023[72]. - No loans were provided to any entities or associated companies as of September 30, 2023[78]. - The company has not disclosed any competitive interests that could affect its business operations[74]. Future Plans and Investments - The company plans to expand its retail network in mainland China and the UAE, with an estimated expenditure of HKD 12.3 million for this purpose, expected to be completed by the end of December 2024[54]. - The company aims to enhance its online store and IT capabilities with an investment of HKD 3.0 million, also targeted for completion by the end of December 2024[54]. - Management expects strong demand in project engineering due to increased activity from property developers in Hong Kong, although significant orders are likely to materialize post-2024[41]. - The company plans to utilize the proceeds from placements for potential mergers and acquisitions as well as for general operational funding[55][56][58]. Dividends and Equity - The board did not recommend the payment of an interim dividend for the nine months ended September 30, 2023[6]. - The company did not declare any dividends for the nine months ended September 30, 2023, consistent with the previous year[38]. - The group’s total equity as of September 30, 2023, was approximately HKD 63.26 million, a decrease from HKD 73.17 million as of the previous year[9].
PACIFIC LEGEND(08547) - 2023 Q3 - 季度财报