Financial Performance - For the nine months ended December 31, 2023, the group's revenue was approximately HKD 9,773,000, a decrease of about 17% compared to HKD 11,818,000 for the same period in 2022[7] - The profit attributable to the owners of the company for the nine months ended December 31, 2023, was approximately HKD 1,328,000, down from HKD 3,386,000 in the same period of 2022[7] - The group recorded a gross profit of HKD 6,377,000 for the nine months ended December 31, 2023, compared to HKD 6,380,000 for the same period in 2022, indicating a stable gross margin despite revenue decline[14] - The total comprehensive income attributable to the owners of the company for the nine months ended December 31, 2023, was HKD 1,342,000, compared to HKD 3,283,000 for the same period in 2022[14] - Basic earnings per share for the nine months ended December 31, 2023, was HKD 1,328,000, compared to HKD 3,386,000 for the same period in 2022, indicating a significant decrease[24] - The basic and diluted earnings per share for the nine months ended December 31, 2023, were HKD 0.15, down from HKD 0.37 in the same period of 2022[14] - Service revenue decreased to HKD 2,640,000 from HKD 3,372,000, representing a decline of 21.7% year-over-year[20] - Maintenance service income fell to HKD 6,956,000, down 14.5% from HKD 8,138,000 in the previous year[20] Dividend and Shareholder Returns - The company did not recommend the payment of an interim dividend for the nine months ended December 31, 2023, consistent with the previous year[7] - The company did not recommend any interim dividend for the nine months ended December 31, 2023, consistent with the previous year[23] - There were no share buybacks during the period, maintaining the status quo from the previous year[33] Cost Management and Financial Outlook - The group maintained a cautious outlook due to a challenging business environment and is focused on rigorous financial measures to minimize costs and risks[11] - The group reported a decrease in administrative expenses to HKD 6,075,000 for the nine months ended December 31, 2023, from HKD 6,467,000 in the same period of 2022, reflecting cost control efforts[14] - The effective tax rate for the group remains at 16.5%, with current tax provision of HKD 20,000 for the period, down from HKD 36,000 in the prior year[22] Corporate Governance - The company has adhered to all provisions of the GEM Corporate Governance Code during the period ending December 31, 2023, ensuring transparency, independence, accountability, and fairness[37] - The board of directors is responsible for reviewing and monitoring the company's compliance with legal and regulatory requirements, as well as the effectiveness of internal control systems[38] - The company has implemented a code for securities trading by directors, which meets or exceeds the standards required by GEM listing rules[40] - The board will continuously assess the effectiveness of the corporate governance structure and the necessity of separating the roles of chairman and CEO[38] - The board includes three executive directors and three independent non-executive directors, ensuring a balanced governance structure[41] Business Strategy - The company aims to develop innovative technology products and solutions, focusing on smart city applications to meet future demands[9] - The company operates a single business segment focused on smart card systems, RFID, and IT services, with no significant geographical diversification[20] Audit and Compliance - The audit committee, consisting of three independent non-executive directors, reviewed the group's quarterly performance for the nine months ending December 31, 2023, and confirmed compliance with applicable accounting standards and GEM listing rules[35] - The company has not adopted any new accounting standards that would significantly impact its financial performance[19] - The company has not made any insurance arrangements for potential legal risks faced by directors, citing a low likelihood of such risks due to the nature of its business[38] Foreign Exchange Impact - The company experienced a foreign exchange gain of HKD 14,000 for the nine months ended December 31, 2023, compared to a loss of HKD 103,000 in the same period of 2022[14]
ITE HOLDINGS(08092) - 2024 Q3 - 季度业绩