Revenue and profitability
- Revenue: HKD 1,584,912 for QQ1 2024
- Cost of revenue: HKD 1,884,421; Gross profit: HKD -299,509; Gross margin: -18.9%
- EBITDA: HKD -8,631,974; EBITDA margin (as reported): -5.45x
- Operating income: HKD -8,636,140; Operating margin (as reported): ~-5.45x
- Net income: HKD -8,677,022; Net income margin (as reported): ~-5.47x
- Earnings per share (EPS, basic/diluted): -0.74
Expense structure and burn
- General and administrative: HKD 3,605,807; Selling and marketing: HKD 4,730,824; Total SG&A: HKD 8,336,631
- Depreciation and amortization: HKD 4,166
Cash flow and liquidity
- Net cash provided by operating activities: HKD -30,269
- Net cash used in financing activities: HKD -166,646
- Net change in cash: HKD -193,196; Cash at end of period: HKD -193,196
Balance sheet highlights
- Total assets: HKD 3,727,102
- Total current assets: HKD 3,672,041; Total current liabilities: HKD 5,933,927
- Total liabilities: HKD 5,933,927; Total stockholders’ equity: HKD -2,206,825
- Cash and cash equivalents: HKD 143,788
- Net debt: HKD -143,788 (net cash position based on given figures)
- Retained earnings: HKD -3,579,969; Accumulated other comprehensive income (loss): HKD 3,988
Key takeaways
- The QQ1 2024 quarter shows a significant operating and net loss driven by a high SG&A burden relative to modest revenue, signaling a burn-rate challenge as the company scales its ESG advisory services in Asia.
- The balance sheet exhibits negative equity and a lack of near-term profitability, underscoring liquidity risk and the need for revenue growth or external funding to support ongoing operations.
- Absence of management commentary limits insight into strategic pivots, cost-control measures, or revenue-growth initiatives; investors should monitor any updated disclosures for guidance on path to profitability and capital planning.