Financial Performance - The Group recorded revenue from continuing operations of approximately HK$21.1 million for the nine months ended 31 December 2022, a slight decrease from approximately HK$21.3 million for the same period in 2021[15]. - Gross profit from continuing operations was approximately HK$12.0 million for the nine months ended 31 December 2022, down from approximately HK$12.7 million in the previous year[15]. - Loss attributable to owners of the Company was approximately HK$15.6 million for the nine months ended 31 December 2022, significantly improved from a loss of approximately HK$26.8 million for the same period in 2021[16]. - Basic and diluted loss per share attributable to owners of the Company was approximately HK$1.05 for the nine months ended 31 December 2022, compared to approximately HK$3.41 for the same period in 2021[16]. - Total comprehensive loss for the nine months ended December 31, 2022, was HK$16,812,000, compared to a total comprehensive loss of HK$27,140,000 in the previous year[22]. - The loss attributable to the owner of the Company for the nine months ended 31 December 2022 was HK$15,563,000, compared to HK$14,674,000 for the same period in 2021[74]. Revenue Breakdown - Revenue for the three months ended December 31, 2022, was HK$8,164,000, an increase of 16.8% compared to HK$6,993,000 for the same period in 2021[20]. - Revenue from catering services in Hong Kong for the nine months ended December 31, 2022, was HK$17,366,000, down from HK$21,283,000 in the previous year, indicating a decline of 18.4%[38]. - The Group's segment revenue from catering services was HK$17.366 million, while sales and processing of food generated HK$3.773 million, totaling HK$21.139 million[49]. - Revenue from one customer in the sales and processing of food segment accounted for approximately HK$3.8 million of the Group's total revenue[44]. Cost and Expenses - Employee benefit expenses decreased to HK$9,181,000 for the nine months ended December 31, 2022, down from HK$13,734,000 in 2021, reflecting a reduction of 33.4%[20]. - Depreciation expenses increased to HK$6,613,000 for the nine months ended December 31, 2022, compared to HK$3,192,000 in the previous year, marking an increase of 106.5%[20]. - The cost of inventories sold for the nine months ended December 31, 2022 was HK$9,111,000, an increase of 5.8% from HK$8,610,000 in 2021[58]. - Administrative expenses increased by approximately HK$4.1 million to approximately HK$11.9 million for the nine months ended December 31, 2022, mainly due to expenses related to two new restaurants and Central Kitchen operations[113]. Operational Changes - The Group has commenced the business of sales and processing of food, which was previously classified as a discontinued operation[41]. - The Group's management has begun selling and processing food and has acquired a frozen aquatic products business in China, which has been classified as discontinued operations[42]. - The Group's management does not regularly review segment assets and liabilities for resource allocation and performance assessment[43]. Equity and Financing - As of December 31, 2022, the total equity attributable to owners of the Company was HK$5,734,000, a decrease from HK$33,519,000 as of December 31, 2021[26]. - The Company raised HK$36,720,000 from a rights issue, which contributed to the capital structure during the reporting period[26]. - As of December 31, 2022, the Group's borrowings included lease liabilities of approximately HK$8.8 million and bonds of approximately HK$1.5 million, resulting in a gearing ratio of approximately 179.2%[127]. - The increase in the gearing ratio from 45.5% as of March 31, 2022, was mainly due to the recognition of bonds and a decrease in the equity base from losses recognized during the period[132]. Governance and Compliance - The company has complied with the Corporate Governance Code except for the vacancy of the Chief Executive position since November 23, 2020, which has not materially impacted operations[154]. - The Audit Committee was established on January 20, 2017, to review financial reports and supervise the financial reporting process and internal control procedures[170]. - The company confirms that all Directors have complied with the required standard of dealings regarding securities transactions for the nine months ended December 31, 2022[159]. Future Outlook - The management expects that the loosening of social distancing restrictions may boost consumer sentiment, although uncertainties regarding the COVID-19 pandemic remain[88]. - The Group has implemented cost-saving measures, including negotiating rent concessions and expanding the take-away product line to mitigate adverse impacts from the COVID-19 pandemic[87].
国茂控股(08428) - 2023 Q3 - 季度财报