Financial Performance - The group's revenue for the three months ended June 30, 2023, was approximately HKD 4.6 million, a decrease of about 71.7% compared to the same period in 2022[5]. - The loss attributable to the owners of the company for the three months ended June 30, 2023, was approximately HKD 8.2 million, representing an increase of about 95.2% compared to the loss of HKD 4.2 million in the same period of 2022[5]. - The total comprehensive loss for the three months ended June 30, 2023, was HKD 8.108 million, compared to HKD 3.650 million in the same period of 2022[6]. - The company reported a significant increase in total losses, indicating potential challenges in operational performance and market conditions[5]. - For the three months ended June 30, 2023, the company reported a loss attributable to owners of approximately HKD 8,238,000, compared to a loss of HKD 4,231,000 for the same period in 2022, representing an increase in loss of about 94.7%[28]. - The net loss attributable to the company's owners was approximately HKD 8.2 million for the current period, compared to HKD 4.2 million for the previous period, reflecting a worsening of approximately 95.2% due to reduced profits from financial services[46]. Revenue Breakdown - For the three months ended June 30, 2023, the company reported total revenue of HKD 4,629,000, a decrease of 71.7% compared to HKD 16,375,000 for the same period in 2022[16]. - Revenue from food supply services was HKD 3,132,000, accounting for 67.7% of total revenue, down from 80.5% in the previous year[16]. - Revenue from financial institution cooperation services was HKD 1,496,000, representing 32.3% of total revenue, an increase from 19.5% in the previous year[16]. - Revenue from the restaurant supply service decreased by approximately 77.1% to HKD 3,132,000 in 2023 from HKD 13,189,000 in 2022, primarily due to the impact of the COVID-19 pandemic[36]. - The financial institution cooperation service generated revenue of approximately HKD 1,496,000 in 2023, down from HKD 3,186,000 in 2022, reflecting the adverse macroeconomic conditions in China[36]. Expenses and Liabilities - The cost of sales and consumed inventory for the three months ended June 30, 2023, was HKD 3.721 million, compared to HKD 2.896 million in the same period of 2022[6]. - Employee benefit expenses for the three months ended June 30, 2023, were HKD 4.460 million, down from HKD 9.589 million in the same period of 2022[6]. - As of June 30, 2023, the company had net current liabilities of approximately HKD 240,082,000, but the board believes there are sufficient financial resources to meet foreseeable financial obligations[15]. - The cost of sales and consumed inventory for the restaurant supply service was approximately HKD 3,700,000 in 2023, accounting for about 80.4% of total revenue, compared to HKD 2,900,000 and 17.7% in 2022[39]. - Employee benefits expenses decreased from approximately HKD 9.6 million to about HKD 4.5 million, a reduction of approximately 47.4% due to restaurant closures and organizational streamlining in China[41]. Dividends and Shareholder Information - The company did not declare any dividends for the three months ended June 30, 2023, consistent with the same period in 2022[5]. - The board has resolved not to declare any dividends for the three months ended June 30, 2023, consistent with the previous year[26]. - As of June 30, 2023, major shareholders hold a total of 285,095,000 shares, representing approximately 15.02% of the company's equity[52]. Operational Developments - The company continues to focus on its core business areas, including restaurant operations and organic vegetable consulting services, amidst the financial downturn[12]. - The company operated 2 restaurants in Hong Kong as of June 30, 2023, down from 5 restaurants in the same period of 2022, indicating a contraction in operations[35]. - The organic vegetable consulting service reported an operational loss of approximately HKD 16,000 due to its relatively small scale and lack of revenue generation[32]. - The company has initiated new restaurant trade business development, including but not limited to wine, to diversify its offerings[30]. - The management remains cautiously optimistic about the potential recovery of the Hong Kong tourism and restaurant industry as COVID-19 restrictions ease[30]. Compliance and Governance - The audit committee reviewed the unaudited condensed consolidated results for the three months ended June 30, 2023, and confirmed compliance with applicable accounting standards and GEM listing rules[61]. - The company has adopted the GEM listing rules regarding securities trading as a code of conduct for directors[59]. - Changes in executive positions occurred post-reporting period, including the resignation of the executive director and compliance officer[64]. - James Lu and Li Qing Ni resigned as executive directors effective July 12, 2023[65]. - Liu Guowei and Li Junping were appointed as executive directors effective August 4, 2023[67]. - The company has resumed compliance with GEM Listing Rules after the appointment of new independent non-executive directors[67]. Future Outlook - The company will continue to monitor changes in the business environment and adjust its strategies accordingly, especially in light of new opportunities arising post-COVID-19[48]. - The company continues to assess the impact of new accounting standards on its financial performance and position, but has not identified any significant financial impact at this time[15]. - The company is developing a one-stop professional financial services platform aimed at alleviating financing issues faced by small and micro enterprises, which are significant contributors to GDP and employment[48].
生活概念(08056) - 2024 Q1 - 季度财报