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[5]. - The 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 in the same period last year[5]. - Basic loss per share for the nine months ended September 30, 2023, was HKD 7.69, compared to HKD 26.93 for the same period last year[5]. - 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 company reported a 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 last year[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 in the same period last year[9]. - The company’s administrative expenses for the nine months ended September 30, 2023, were HKD 17,580,000, slightly higher than HKD 17,257,000 for the same period last year[8]. - The company reported a financing cost of HKD 2,282,000 for the nine months ended September 30, 2023, down from HKD 5,742,000 in the same period last year[8]. - The company’s other income for the nine months ended September 30, 2023, was HKD 6,313,000, compared to HKD 1,425,000 for the same period last year[8]. - The company incurred a loss of HKD 32.603 million during the period, compared to a profit of HKD 36.588 million in the same period last year[10]. - The total comprehensive loss for the period was HKD 10.209 million, reflecting a significant decline from the previous year's comprehensive income[10]. - The company recognized a foreign exchange loss of HKD 9.294 million related to overseas operations during the period[10]. - As of January 1, 2023, the accumulated losses increased to HKD 607.935 million from HKD 553.194 million at the end of the previous reporting period[10]. Equity and Capital Structure - For the nine months ended September 30, 2023, the company reported a total equity of HKD 59.951 million, a decrease from HKD 91.760 million as of September 30, 2022[10]. - The company completed a rights issue that raised HKD 3.847 million during the period[10]. - The company’s share capital increased from HKD 1.060 billion to HKD 1.300 billion due to the rights issue[10]. - The group’s net assets as of September 30, 2023, were approximately HKD 59,950,000, down from HKD 71,934,000 as of December 31, 2022[43]. - The company’s capital commitments were approximately HKD 41,570,000 as of September 30, 2023, a decrease from HKD 43,202,000 as of December 31, 2022[53]. Business Operations and Strategy - The company’s financial services and distribution business remains a key focus area for growth and expansion[12]. - The company continues to evaluate new strategies for market expansion and product development[12]. - The company is focusing on expanding its distribution business for food and beverages, including processed seafood and fresh meat, targeting various customer segments[59]. - The company is negotiating with a major state-owned enterprise in China for the procurement and supply of corn, in addition to distributing sunflower meal[60]. - The performance of the financial services segment has been poor, leading the company to reduce its operations in this area and reallocate resources to more promising businesses[62]. - The company plans to adopt a more cautious approach to its lending services due to increased default risks in the current economic environment[61]. Shareholder Information - As of September 30, 2023, A S Investment Holdings Ltd and Ever Better Holdings Ltd each hold 14,135,200 shares, representing 10.87% of the issued share capital[65]. - Ms. Yang Xiuhuan and Mr. Su Zhiming each hold 16,167,600 shares, accounting for 12.44% of the issued share capital[65]. - Hui Ying Securities Ltd and Hui Ying Financial Group Ltd each own 11,300,000 shares, which is 8.69% of the issued share capital[65]. - Hui Ying Holdings Ltd holds 12,161,600 shares, representing 9.35% of the issued share capital[65]. Corporate Governance and Compliance - The company has complied with the corporate governance code throughout the reporting period, except for the absence of at least three independent non-executive directors from July 20, 2023, to March 26, 2024[70]. - The audit committee reviewed the group's unaudited condensed consolidated financial performance during the reporting period[74]. - No purchases, redemptions, or sales of the company's listed securities were made by the company or its subsidiaries during the reporting period[72]. - The company does not have any significant contracts in which its directors have a direct or indirect material interest during the reporting period[67]. - There were no arrangements allowing any director or senior management to benefit from purchasing the company's securities during the reporting period[64]. - The company has not granted any stock options under the stock option plan during the reporting period[68]. Revenue Breakdown - Revenue from the distribution business for the three months ended September 30, 2023, was HKD 10,327,000, compared to HKD 3,262,000 for the same period in 2022[19]. - The company’s one-stop value chain service recorded no revenue for the three months ended September 30, 2023, compared to HKD 671,000 for the same period in 2022[19]. - The company’s total revenue for the three months ended September 30, 2023, was HKD 15,442,000, compared to HKD 4,800,000 for the same period in 2022[19]. - The distribution business reported revenue of approximately HKD 29,199,000, representing an increase of approximately 83% compared to HKD 15,975,000 for the nine months ended September 30, 2022[35]. - The cost of sales for the reporting period was approximately HKD 27,639,000, which is an increase of about 22% from HKD 22,669,000 for the same period last year[41].
中国农业生态(08166) - 2024 Q1 - 季度财报