Financial Performance - The group recorded unaudited revenue of approximately HKD 63.2 million for the nine months ended September 30, 2023, a significant increase of HKD 55.0 million or 670.7% compared to HKD 8.2 million for the same period in 2022[6] - The group reported an unaudited profit attributable to owners of the company of approximately HKD 2.3 million for the nine months ended September 30, 2023, compared to an unaudited loss of HKD 7.8 million for the same period in 2022[6] - Basic and diluted earnings per share for the nine months ended September 30, 2023, were HKD 0.19 cents, compared to a loss of HKD 0.65 cents per share for the same period in 2022[6] - Gross profit for the nine months ended September 30, 2023, was HKD 12.9 million, compared to HKD 0.238 million for the same period in 2022, reflecting a substantial improvement[8] - The total comprehensive income for the nine months ended September 30, 2023, was HKD 2.44 million, compared to a total comprehensive loss of HKD 7.85 million for the same period in 2022[8] - The reported segment performance for the nine months ended September 30, 2023, showed a profit of HKD 4,545,000, compared to a loss of HKD 7,573,000 in the same period of 2022, indicating a turnaround in performance[36] - The company recorded a profit of approximately HKD 2.3 million for the nine months ended September 30, 2023, compared to a loss of approximately HKD 7.8 million for the same period in 2022, marking a turnaround due to the recovery of the Macau tourism industry[62] Revenue Breakdown - For the nine months ended September 30, 2023, total revenue reached HKD 63,198,000, compared to HKD 8,246,000 in the prior year, indicating an increase of about 667%[30] - Revenue from hotel room sales, air tickets, and other travel-related products and services for the nine months was HKD 50,947,000, up from HKD 5,676,000, marking a growth of approximately 798%[30] - The automotive rental services segment generated revenue of HKD 8,665,000 for the nine months, compared to HKD 2,570,000 in the previous year, reflecting an increase of around 237%[30] - The concert ticket sales and investment segment reported revenue of HKD 3,586,000 for the nine months, with no revenue recorded in the same period of 2022[30] Expenses and Costs - Administrative expenses for the nine months ended September 30, 2023, were HKD 10.7 million, slightly higher than HKD 10.6 million for the same period in 2022[8] - The cost of sales rose from approximately HKD 8.0 million to approximately HKD 50.3 million, an increase of 528.8% due to higher procurement costs for hotel rooms[55] - Employee costs for the nine months ended September 30, 2023, amounted to approximately HKD 8.6 million, representing a 21.1% increase compared to HKD 7.1 million for the same period in 2022[73] Dividends and Shareholder Returns - The board of directors decided not to declare an interim dividend for the nine months ended September 30, 2023, consistent with the previous year[6] - No interim dividend was recommended for the nine months ended September 30, 2023, consistent with the previous year[48] - There were no share buybacks, sales, or redemptions by the company or its subsidiaries during the nine months ending September 30, 2023[94] Financial Position - The group’s total equity as of September 30, 2023, was HKD 38.56 million, down from HKD 40.41 million as of September 30, 2022[11] - The total borrowings and lease liabilities amounted to approximately HKD 4.3 million as of September 30, 2023, down from HKD 5.2 million as of June 30, 2023[80] - The group's debt-to-equity ratio was approximately 11.2% as of September 30, 2023, compared to 13.3% as of June 30, 2023[83] - The group's cash and cash equivalents, along with bank deposits maturing in over three months, remained stable at approximately HKD 8.0 million as of September 30, 2023[80] Risk Management - The financial risk management policy has remained unchanged since December 31, 2022, indicating stability in the company's approach to managing financial risks[26] - The group is exposed to foreign exchange risks primarily due to transactions in Macanese Patacas, Hong Kong Dollars, US Dollars, and Renminbi[87] - The group does not have a foreign exchange hedging policy for assets and liabilities denominated in foreign currencies but will monitor foreign exchange risks closely[89] Corporate Governance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15 and has complied with it in all significant aspects for the nine months ending September 30, 2023, except for a deviation regarding the roles of the Chairman and CEO[90] - The audit committee was established in accordance with GEM Listing Rule 5.28, consisting of three independent non-executive directors[105] - The audit committee reviewed the unaudited condensed consolidated financial statements for the nine months ended September 30, 2023, and found them compliant with applicable accounting standards and GEM Listing Rules[105] Future Plans and Developments - The company plans to strategically seek partnerships with more hotel operators and travel agencies in Macau to enhance its market position and increase revenue streams[51] - The company plans to expand its tourism business into China and Hong Kong, identifying opportunities in the tourism sector[67] - The company will continue to monitor the risks and opportunities arising from the easing of travel restrictions in Macau[50] - The company has expanded its operations to Hong Kong, obtaining a travel agency license on March 22, 2023[50] Other Information - The financial statements for the nine months ended September 30, 2023, have not been audited but have been reviewed by the company's audit committee[23] - There were no significant events that require disclosure after September 30, 2023, up to the date of this report[104]
瀛海集团(08668) - 2023 Q3 - 季度财报