Financial Performance - The company recorded unaudited revenue of approximately HKD 29,332,000 for the nine months ended September 30, 2023, representing a 60% increase compared to HKD 18,311,000 for the same period last year[4]. - The unaudited loss attributable to the owners of the company for the nine months ended September 30, 2023, was approximately HKD 9,998,000, a significant improvement from a loss of HKD 35,006,000 for the same period in 2022[4]. - Basic loss per share for the nine months ended September 30, 2023, was HKD 0.0769, compared to HKD 0.2693 for the same period last year[4]. - The company reported total comprehensive loss of HKD 11,983,000 for the nine months ended September 30, 2023, compared to HKD 46,136,000 for the same period in 2022[9]. - The company experienced a foreign exchange gain of HKD 2,171,000 for the nine months ended September 30, 2023, compared to a loss of HKD 9,548,000 for the same period last year[9]. - The company reported a loss from the sale of investment properties of HKD 569,000 for the nine months ended September 30, 2023[8]. - The group recorded a loss attributable to equity holders of approximately HKD 9,998,000, significantly improved from a loss of HKD 35,006,000 in the same period last year, with a basic loss per share of HKD 0.0769 compared to HKD 0.2693[44]. Revenue Breakdown - For the nine months ended September 30, 2023, the group's total revenue was HKD 35,645,000, an increase of 80.9% compared to HKD 19,736,000 for the same period in 2022[20]. - Distribution business revenue for the three months ended September 30, 2023, was HKD 10,327,000, up 216.5% from HKD 3,262,000 in the same period last year[20]. - The distribution business reported revenue of approximately HKD 29,199,000 for the nine months ended September 30, 2023, an increase of about 83% from HKD 15,975,000 in the same period of 2022[37]. - The company had no revenue from property investment during the reporting period, consistent with the previous year[35]. - The company reported zero revenue from its one-stop value chain service segment, a 100% decrease from HKD 2,198,000 in the same period of 2022[36]. Expenses and Costs - Gross profit for the nine months ended September 30, 2023, was HKD 1,693,000, compared to a gross loss of HKD 4,358,000 for the same period last year[8]. - The cost of sales for the reporting period was approximately HKD 27,639,000, an increase of 22% from HKD 22,669,000 in the same period last year, primarily due to increased distribution activities[43]. - Administrative expenses were approximately HKD 17,580,000, a slight increase of 2% from HKD 17,257,000 in the same period last year, mainly due to increased rental expenses[44]. - Financing costs decreased by approximately 60% to HKD 2,282,000 from HKD 5,742,000 in the same period last year, attributed to a reduction in outstanding loan principal[44]. Assets and Liabilities - The company’s total assets as of September 30, 2023, amounted to HKD 25,409,000, reflecting a decrease from HKD 34,542,000 as of the previous year[11]. - The net assets of the group were approximately HKD 59,950,000 as of September 30, 2023, compared to HKD 71,934,000 as of December 31, 2022[45]. - The outstanding principal amount of loans granted in Hong Kong as of September 30, 2023, was HKD 8.5 million, with interest rates ranging from 8% to 36%[40]. - The company's investments in equity instruments and financial assets at fair value amounted to approximately HKD 3,744,000, representing about 2.95% of total assets as of September 30, 2023[42]. Dividends and Taxation - The company did not recommend the payment of any interim dividend for the reporting period[5]. - The company did not incur any corporate income tax liabilities for the periods ended September 30, 2023, and 2022, due to the absence of taxable profits[26]. - The company did not recommend any interim dividend for the nine months ended September 30, 2023, consistent with the previous year[28]. Business Operations and Strategy - The group operates primarily in one-stop value chain services, property investment, distribution business, lending services, and financial services[14]. - The company plans to focus on existing businesses and reduce the scale of its one-stop value chain services due to the impact of the COVID-19 pandemic on financial performance[61]. - The financial services segment has underperformed, leading the company to reduce its focus on this area and reallocate resources to more promising businesses[67]. - The company is cautiously monitoring its property investment portfolio amid geopolitical tensions and global pessimism[62]. - The company is actively sourcing local and overseas suppliers for food and beverage distribution, including processed seafood and fresh meat products[64]. - The company has seen an increase in demand for lending services, but is adopting a cautious approach to mitigate default risks by enhancing loan approval processes[66]. Other Information - The group did not engage in any fundraising activities during the reporting period[47]. - The group acquired additional equity interests in a subsidiary for HKD 55,000,000, resulting in full ownership of the target company, which includes several properties in Shenzhen, China[48]. - The group provided a financial guarantee for a loan of RMB 13,000,000, which remains outstanding as of September 30, 2023[55]. - The company has entered into two sale agreements for properties in China, with prices of RMB 4,250,000 and RMB 3,500,000, respectively, with the first sale completed and the second pending[59]. - The Hong Kong economy is expected to improve significantly in Q1 2023, driven by strong inbound tourism and domestic demand, although fiscal constraints may still limit growth[60]. - The group has not applied any new Hong Kong Financial Reporting Standards that have been issued but not yet effective during the accounting period[19]. - The company has maintained its accounting policies consistent with those adopted in the audited consolidated financial statements for the year ended December 31, 2022[17].
中国农业生态(08166) - 2024 Q1 - 季度业绩