Financial Performance - For the nine months ended December 31, 2023, the group's revenue was approximately HKD 127.2 million, a decrease of about 24.6% compared to HKD 168.6 million for the same period in 2022[8] - Gross profit for the nine months ended December 31, 2023, was approximately HKD 38.7 million, down approximately 6.5% from HKD 41.4 million in the same period of 2022[8] - Net profit decreased from approximately HKD 3.0 million for the nine months ended December 31, 2022, to approximately HKD 0.2 million for the same period in 2023[8] - Basic and diluted earnings per share for the nine months ended December 31, 2023, were approximately HKD 0.02, compared to HKD 0.30 for the same period in 2022[8] - The total comprehensive income for the nine months ended December 31, 2023, was HKD 240,000, down from HKD 3.0 million in the same period of 2022[9] - The company reported a pre-tax profit of HKD 1.2 million for the nine months ended December 31, 2023, compared to HKD 5.6 million for the same period in 2022[9] - Profit attributable to owners of the company decreased from approximately HKD 3.0 million for the nine months ended December 31, 2022, to approximately HKD 0.2 million for the nine months ended December 31, 2023[45] Revenue Breakdown - Revenue from residential buildings for the nine months was HKD 24,102,000, down 6.3% from HKD 25,718,000 in 2022[18] - Revenue from community facilities decreased by 22.8% to HKD 44,753,000 from HKD 57,998,000 year-on-year[18] - Revenue from construction protection engineering was HKD 92.6 million for the nine months ended December 31, 2023, down from HKD 123.8 million in the previous year, primarily due to a decrease in the number of projects undertaken[33] - Revenue from the supply of construction protection products decreased from HKD 44.8 million to HKD 34.6 million, with a significant drop in demand for tiles and flooring products[36] Expenses and Costs - The group's administrative expenses for the nine months ended December 31, 2023, were approximately HKD 31.7 million, compared to HKD 30.6 million for the same period in 2022[9] - Total finance costs for the nine months were HKD 1,117,000, an increase of 99.6% from HKD 560,000 in 2022[22] - The total employee costs for the nine months were HKD 32,393,000, a slight decrease of 3.4% from HKD 33,549,000 in 2022[24] - The company incurred a loss of HKD 173,000 from the disposal of property and equipment during the nine months, compared to a loss of HKD 141,000 in the previous year[21] - The company’s bank loan interest expense for the nine months was HKD 1,029,000, an increase of 116.8% from HKD 475,000 in 2022[22] - Financial costs increased from approximately HKD 560,000 for the nine months ended December 31, 2022, to approximately HKD 1.1 million for the nine months ended December 31, 2023, representing an increase of about HKD 540,000 or 96.4%[42] Dividends and Shareholder Returns - The board of directors did not recommend any dividend for the nine months ended December 31, 2023, consistent with the previous year[8] - The company did not declare any dividends for the nine months ended December 31, 2023, consistent with the previous year[28] - The company has not issued, agreed to issue, exercised, or canceled any stock options since its listing date[63] Other Income and Subsidies - The company did not recognize any government subsidies for the nine months, compared to HKD 1,194,000 in the previous year[20] - The company's total other income for the nine months was HKD 202,000, a significant decrease from HKD 1,401,000 in 2022[20] - Other income decreased from approximately HKD 1.4 million to HKD 202,000, primarily due to the absence of government subsidies[39] Corporate Governance and Compliance - The company has complied with the corporate governance code, except for the separation of roles between the Chairman and CEO[66] - The audit committee reviewed the unaudited condensed consolidated financial statements for the nine months ending December 31, 2023, confirming compliance with applicable accounting standards[68] Future Plans and Strategies - The planned use of net proceeds includes approximately HKD 2.1 million for purchasing additional machinery and equipment, HKD 6.3 million for expanding manpower, and HKD 6.7 million for strengthening the group's financial position[48] - The group will continue to review its asset structure and business strategies in light of current economic uncertainties and challenges, aiming to control costs and improve efficiency[51] - The company aims to expand its workforce and secure more construction protection projects in Hong Kong to strengthen its market position[51] Environmental Compliance - The group is committed to enhancing environmental protection and ensuring compliance with applicable environmental laws and regulations[52][53] - As of the report date, there were no prosecutions, fines, or penalties against the group for violations of applicable environmental laws or regulations[53] Shareholding Structure - As of December 31, 2023, Ultra Success holds 750,000,000 shares, representing 75% of the company's equity[61] Project and Revenue Confirmation - The total number of projects confirmed for revenue decreased from 334 to 321, with a notable reduction in smaller projects[35] - Sales and service costs decreased from approximately HKD 127.2 million to HKD 88.5 million, a reduction of about HKD 38.7 million or 30.4%[37]
新威工程集团(08616) - 2024 Q3 - 季度财报