Financial Performance - For the first quarter ended March 31, 2023, the company reported revenue of HKD 49,554,000, a decrease of 39.8% compared to HKD 82,127,000 in the same period of 2022[8] - The cost of sales for the first quarter was HKD 39,844,000, resulting in a gross profit of HKD 9,710,000, which is an increase of 153.5% from HKD 3,837,000 in the previous year[8] - The company recorded a loss before tax of HKD 7,666,000, an improvement from a loss of HKD 12,133,000 in the first quarter of 2022[8] - The net loss for the period was HKD 7,693,000, compared to a net loss of HKD 13,208,000 in the same quarter last year, indicating a reduction in losses by 41.0%[8] - Basic loss per share for the first quarter was HKD 0.93, improved from HKD 1.90 in the previous year[8] - The group recorded a pre-tax loss of approximately HKD 6.5 million for the period, compared to a loss of approximately HKD 13.3 million in the same period of 2022[22] - The net loss attributable to the company's owners for the three months ended March 31, 2023, was approximately HKD 6.5 million, a reduction of about 50.6% from a net loss of HKD 13.2 million in the same period of 2022, primarily due to a significant increase in gross margin[41] Revenue Breakdown - For the three months ended March 31, 2023, the group recorded revenue of approximately HKD 49.6 million, a decrease of about 39.6% compared to HKD 82.1 million in the same period of 2022[33] - The electronic products business generated revenue of approximately HKD 49.6 million, down approximately 38.5% from HKD 80.6 million in the same period of 2022[29] - The group’s revenue from OEM customers was approximately HKD 29.4 million, accounting for 59.3% of total revenue, while revenue from retail distributors was approximately HKD 20.2 million, accounting for 40.7%[16] - The group’s revenue from the construction design business was zero for the period, a decrease of approximately 100% compared to HKD 3.5 million in the same period of 2022[30] - The group’s revenue from the United States was approximately HKD 17.3 million, accounting for 34.8% of total revenue, while revenue from South Korea was approximately HKD 13.8 million, accounting for 27.8%[20] Expenses and Costs - Administrative expenses increased to HKD 14,588,000 from HKD 12,296,000, reflecting a rise of 18.7% year-on-year[8] - The company incurred financial costs of HKD 800,000, which is a significant increase from HKD 196,000 in the previous year[8] - Sales and distribution expenses for the three months ended March 31, 2023, were approximately HKD 1.6 million, a decrease of 40.3% compared to HKD 2.6 million in the same period of 2022, primarily due to cost control in the architectural design and financial services sectors[36] - Administrative expenses for the same period were approximately HKD 14.6 million, an increase of about HKD 2.3 million from approximately HKD 12.3 million in 2022, mainly due to increased rental expenses for production facilities in mainland China[37] - Financial costs for the three months ended March 31, 2023, were approximately HKD 800,000, up from HKD 196,000 in the same period of 2022, attributed to new debt raised since the second quarter of the fiscal year ending December 31, 2022[39] - Income tax expenses for the same period were approximately HKD 27,000, significantly lower than HKD 1,075,000 in the same period of 2022[40] Strategic Focus and Future Outlook - The company aims to enhance its market presence and explore new product development opportunities in the upcoming quarters[8] - The financial results indicate a strategic focus on improving operational efficiency and reducing losses while navigating market challenges[8] - The first financial quarter of 2023 marked a historical moment for economic recovery post-COVID-19, with increased demand for electronic products and services as consumer confidence returned, indicating a positive outlook for the company[42] - The company maintains a commitment to innovation and customer-centric strategies, enhancing its competitive position and preparing for continued success[42] - The group is actively pursuing new design business opportunities and remains cautiously optimistic about the future performance of the construction design business[30] Corporate Governance - Major shareholders include PT Design, holding 355,620,000 shares, representing 50.51% of the issued share capital, and Mr. Pang Guoxi, holding 74,403,000 shares, representing 10.57%[47] - The company has maintained sufficient public float during the reporting period[50] - There were no arrangements made during the period that would allow directors to benefit from purchasing shares or debt securities of the company or any other entity[49] - The company has adhered to the corporate governance code as per GEM Listing Rules Appendix C1 throughout the period[59] - The audit committee consists of three members, including independent non-executive directors, with Dr. Zhen Jia Sheng as the chairman[60] - The financial performance report for the three months ending March 31, 2023, has been reviewed by the audit committee but remains unaudited[60]
新华联合投资(08159) - 2024 Q1 - 季度业绩