(incorporated in Cayman Islands with limited liability)
(Stock code: 8331)
2023
FIRST QUARTERLY REPORT
CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE")
GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration.
Given that the companies listed on GEM are generally small and mid- sized companies, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the Main Board of the Stock Exchange and no assurance is given that there will be a liquid market in the securities traded on GEM.
Hong Kong Exchanges and Clearing Limited and the Stock Exchange take no responsibility for the contents of this report, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this report.
This report, for which the directors (the "Directors") of P.B. Group Limited (the "Company", together with its subsidiaries, the "Group") collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on the GEM of the Stock Exchange (the "GEM Listing Rules") for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this report is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this report misleading.
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FIRST QUARTERLY RESULTS
The board of Directors (the "Board") of the Company is pleased to announce the unaudited condensed consolidated results of the Group for the three months ended 30 June 2023 (the "Reporting Period"), together with the comparative unaudited figures for the corresponding period in 2022 as follows:
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
For the three months ended 30 June 2023
Three months ended | |||||
30 June | |||||
2023 | 2022 | ||||
Notes | CNY'000 | CNY'000 | |||
(Unaudited) | (Unaudited) | ||||
Revenue | 3 | 14,514 | 21,180 | ||
Cost of sales | (9,015) | (11,737) | |||
Gross profit | 5,499 | 9,443 | |||
Other income, other net gains and losses | 487 | 243 | |||
Selling and distribution expenses | (995) | (1,426) | |||
Administrative and other expenses | (6,545) | (5,281) | |||
Finance costs | (128) | (121) | |||
Loss on fair value changes of financial | |||||
assets at fair value through profit or loss | (696) | (291) | |||
(Loss)/profit before taxation | (2,378) | 2,567 | |||
Income tax credit/(expenses) | 5 | 119 | (560) | ||
(Loss)/profit for the period | (2,259) | 2,007 | |||
Other comprehensive income | |||||
for the period | |||||
Items that may be reclassified | |||||
subsequently to profit or loss: | |||||
Exchange differences arising on | |||||
translation of foreign operations | 1,807 | 2,171 | |||
Total comprehensive (loss)/income | |||||
for the period | (452) | 4,178 | |||
(Loss)/profit for the period attributable | |||||
to owners of the Company | 6 | (2,259) | 2,007 | ||
Total comprehensive (loss)/income | |||||
for the period attributable to | |||||
owners of the Company | (452) | 4,178 | |||
(Loss)/Earnings per share (CNY) : | |||||
Basic and diluted | 6 | (1.42) cents | 1.26 cents | ||
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UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For the three months ended 30 June 2023
Safety | |||||||||||||||||||||||||
fund and | Foreign | ||||||||||||||||||||||||
production | currency | ||||||||||||||||||||||||
Share | Other | Statutory | maintenance | translation | Accumulated | ||||||||||||||||||||
Share capital | premium | reserve | reserve | fund | reserve | losses | Total | ||||||||||||||||||
CNY'000 | CNY'000 | CNY'000 | CNY'000 | CNY'000 | CNY'000 | CNY'000 | CNY'000 | ||||||||||||||||||
At 1 April 2022 (unaudited) | 13,261 | 146,974 | 23,351 | 7,724 | 1,729 | (491) | (69,136) | 123,412 | |||||||||||||||||
Profit for the period | - | - | - | - | - | - | 2,007 | 2,007 | |||||||||||||||||
Exchange difference arising | |||||||||||||||||||||||||
on translation of financial | |||||||||||||||||||||||||
statement of foreign | |||||||||||||||||||||||||
operation | - | - | - | - | - | 2,171 | - | 2,171 | |||||||||||||||||
Other comprehensive income | |||||||||||||||||||||||||
for the period | - | - | - | - | - | 2,171 | - | 2,171 | |||||||||||||||||
Total comprehensive income | |||||||||||||||||||||||||
for the period | - | - | - | - | - | 2,171 | 2,007 | 4,178 | |||||||||||||||||
Appropriation to statutory | |||||||||||||||||||||||||
reserve | - | - | - | 297 | - | - | (297) | - | |||||||||||||||||
Appropriation and utilisation | |||||||||||||||||||||||||
of safety fund and | |||||||||||||||||||||||||
production maintenance | |||||||||||||||||||||||||
fund, net | - | - | - | - | (22) | - | 22 | - | |||||||||||||||||
At 30 June 2022 (unaudited) | 13,261 | 146,974 | 23,351 | 8,021 | 1,707 | 1,680 | (67,404) | 127,590 | |||||||||||||||||
At 1 April 2023 (audited) | 13,261 | 146,974 | 23,351 | 8,731 | 1,880 | 2,695 | (72,001) | 124,891 | |||||||||||||||||
Loss for the period | - | - | - | - | - | - | (2,259) | (2,259) | |||||||||||||||||
Exchange difference arising | |||||||||||||||||||||||||
on translation of financial | |||||||||||||||||||||||||
statement of foreign | |||||||||||||||||||||||||
operation | - | - | - | - | - | 1,807 | - | 1,807 | |||||||||||||||||
Other comprehensive income | |||||||||||||||||||||||||
for the period | - | - | - | - | - | 1,807 | - | 1,807 | |||||||||||||||||
Total comprehensive loss | |||||||||||||||||||||||||
for the period | - | - | - | - | - | 1,807 | (2,259) | (452) | |||||||||||||||||
Appropriation to statutory | |||||||||||||||||||||||||
reserve | - | - | - | 89 | - | - | (89) | - | |||||||||||||||||
Appropriation and utilisation | |||||||||||||||||||||||||
of safety fund and | |||||||||||||||||||||||||
production maintenance | |||||||||||||||||||||||||
fund, net | - | - | - | - | - | - | - | - | |||||||||||||||||
At 30 June 2023 (unaudited) | 13,261 | 146,974 | 23,351 | 8,820 | 1,880 | 4,502 | (74,349) | 124,439 | |||||||||||||||||
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Notes:
-
Other reserve
It represents (a) the capital contribution from the previous controlling shareholder, Mr. Li Feile of Feishang International Holdings Limited ("Feishang International") during the fiscal year of 2002 to 2003; and (b) the difference between the nominal value of the issued share capital of the Company and share capital of the then holding company, Feishang International, upon the group reorganisation. - Statutory reserve
As required by applicable law and regulations, entities established and operated in the People's Republic of China (the "PRC") shall set aside/appropriate a portion of its after tax profits of each period to fund statutory reserve. The statutory reserve is not distributable as cash dividends and must be made before distribution of dividend to equity owners. - Safety fund and production maintenance fund
As stipulated by the State Administration of Work Safety of the PRC, Wuhu Feishang Non- metal Material Co., Limited*(蕪湖飛尚非金屬材料有限公司)("Feishang Material") is required to accrue the safety production fund and the production maintenance fund which is based on the production volume for the utilisation of future safety production expense.
- For identification purpose only
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PB Group Ltd. published this content on 14 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 August 2023 15:24:10 UTC.