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北亚策略(08080) - 2023 - 中期财报
2022-11-08 08:38
Financial Performance - Revenue for the six months ended September 30, 2022, was HK$791,116,000, a decrease of 21.5% compared to HK$1,008,422,000 for the same period in 2021[14]. - Gross profit for the period was HK$131,992,000, down 30.5% from HK$189,784,000 in the previous year[14]. - The operating loss for the six months was HK$40,041,000, compared to an operating profit of HK$50,375,000 in the same period last year[14]. - The net loss for the period was HK$39,242,000, compared to a profit of HK$40,113,000 in the previous year[14]. - Basic loss per share was HK(9.2) cents, compared to earnings of HK12.3 cents per share in the same period last year[14]. - Total comprehensive loss for the period was HK$73,991,000, compared to a comprehensive income of HK$46,138,000 in the previous year[16]. - The company reported a gross profit margin of 16.7% for the six months ended September 30, 2022, down from 18.8% in the previous year[14]. - The loss before income tax for the period was HK$40,522, with a net loss of HK$39,242 after accounting for an income tax credit of HK$1,280[54]. - The Group recorded an unaudited consolidated net loss of approximately HK$39,242,000, compared to an unaudited consolidated net profit of HK$40,113,000 in the corresponding period last year[200]. Revenue Breakdown - Total revenue from contracts with customers for the six months ended September 30, 2022, was HK$766,534, a decrease of 22.1% from HK$984,917 in 2021[45]. - Revenue from hi-tech distribution and services segment was HK$736,875, while leasing operation segment contributed HK$54,241, totaling HK$791,116 for the period[54]. - Revenue from the PRC, including Hong Kong, was HK$751,817, down from HK$934,445 in the previous year, reflecting a decline of 19.5%[45]. - The hi-tech distribution and services division experienced a revenue decrease of 20.4% due to semiconductor chip shortages and disruptions in production and logistics caused by lockdowns in major Chinese cities[190]. - The leasing division's revenue decreased by 34.2%, primarily due to reduced scale and orders for electronics consumables products amid economic downturn pressures[190]. Expenses and Liabilities - Selling and distribution expenses decreased to HK$66,711,000 from HK$70,443,000, reflecting a reduction of 5.3%[14]. - General and administrative expenses increased to HK$113,462,000 from HK$87,379,000, representing a rise of 29.9%[14]. - Total operating expenses for the Interim Period amounted to approximately HK$180,173,000, an increase of 14.2% from approximately HK$157,822,000 in the corresponding period last year[191]. - The Group recorded a net exchange loss of approximately HK$25,498,000 during the Interim Period, compared to a net exchange gain of HK$11,838,000 in the corresponding period last year[191]. - The total operating expenses (excluding exchange loss) to revenue ratio increased to 20% from 17% in the corresponding period last year[192]. Assets and Equity - Total assets as of September 30, 2022, amounted to HK$2,863,986, a decrease from HK$3,161,987 as of March 31, 2022, representing a decline of approximately 9.4%[19]. - Total equity attributable to shareholders as of September 30, 2022, was HK$1,373,451, down from HK$1,447,442, indicating a decrease of approximately 5.1%[19]. - Cash and cash equivalents decreased to HK$447,925 from HK$485,495, a decline of about 7.7%[19]. - Trade and other receivables dropped significantly from HK$807,078 to HK$519,859, a decrease of approximately 35.6%[19]. - The company reported a comprehensive loss for the period of HK$73,991, compared to a profit of HK$40,113 in the previous period[27]. Cash Flow and Investments - Net cash flows from operating activities improved to HK$48,232,000 compared to a net outflow of HK$131,349,000 in the previous year[30]. - Net cash flows used in investing activities decreased to HK$49,475,000 from HK$191,162,000 year-on-year[30]. - The principal portion of lease payments decreased to HK$8,026,000 from HK$12,186,000 year-on-year[32]. - Capital expenditure for the period amounted to HK$83,869, with HK$31,290 attributed to hi-tech distribution and services and HK$52,579 to leasing operations[54]. Shareholder Information - The company does not recommend the payment of an interim dividend for the six months ended September 30, 2022, consistent with the previous year where no dividend was paid[122]. - The number of issued ordinary shares increased from 425,125,000 to 425,125,000, with a total share capital of HK$42,512,000 as of 30th September 2022[149]. - As of September 30, 2022, the company had 7,404,388 share options outstanding with an exercise price of HK$1.14, valid from August 16, 2017, to August 15, 2027[163][164]. - The company has a share option scheme in place to reward participants who contribute to the Group, valid for ten years from the adoption date[148]. Operational Insights - The company is engaged in hi-tech distribution, leasing, and property investment, focusing on surface mount technology and finance lease arrangements[34]. - The strict pandemic control policies in major Chinese cities contributed to disruptions in component production and logistics, affecting the Group's customers[199]. - Customers have been delaying or scaling down their manufacturing facilities acquisition plans, leading to a significant drop in orders to the Group during the first half of 2022[199]. - AMT has a team of over 250 engineers and customer care staff located in more than 25 cities across China, Southeast Asia, Vietnam, and India[199]. - The Group's customers include most major telecom and electronic equipment manufacturers globally, which positions AMT favorably as demand increases[199].
北亚策略(08080) - 2023 Q1 - 季度财报
2022-08-09 09:20
Financial Performance - Revenue for the three months ended June 30, 2022, was HK$420,274,000, a decrease of 34.3% compared to HK$639,396,000 for the same period in 2021[16] - Gross profit for the same period was HK$70,473,000, down 32.0% from HK$103,672,000 in 2021[16] - The operating loss for the period was HK$25,795,000, compared to an operating profit of HK$26,959,000 in the previous year[16] - The loss for the period was HK$24,591,000, compared to a profit of HK$15,980,000 in the same period last year[16] - Basic and diluted loss per share attributable to ordinary shareholders was HK(5.8) cents, compared to earnings of HK5.2 cents in 2021[16] - Total comprehensive loss for the period amounted to HK$41,188,000, compared to a comprehensive income of HK$21,259,000 in 2021[19] - The Group reported a net loss of approximately HK$24,591,000, compared to a net profit of approximately HK$15,980,000 in the corresponding period last year[86] - The basic loss per share was approximately HK5.8 cents, compared to basic earnings per share of approximately HK5.2 cents in the corresponding period last year[86] Revenue Breakdown - Total revenue for the three months ended June 30, 2022, was HK$410,817,000, a decrease of 34.8% compared to HK$629,701,000 for the same period in 2021[29] - Revenue from contracts with customers recognized at a point in time was HK$391,110,000, down from HK$584,675,000 in the previous year, reflecting a decline of 33.1%[29] - Revenue from the PRC, including Hong Kong, was HK$401,476,000, down from HK$608,359,000, a decline of 34.0%[29] - Revenue from Asia—other markets was HK$9,341,000, a decrease of 56.3% from HK$21,342,000 in the previous year[29] - The hi-tech distribution and services division's revenue decreased by 37.5% to approximately HK$379,798,000, down from approximately HK$607,861,000 due to semiconductor chip shortages and sluggish demand in the global mobile phone market[91] - Direct machine sales in the hi-tech division fell by 38.0% to approximately HK$339,717,000 from approximately HK$547,934,000[95] - The leasing division generated revenue of approximately HK$40,476,000, representing an increase of 28.4% from approximately HK$31,535,000 in the corresponding period last year[98] Expenses and Costs - Selling and distribution expenses increased to HK$36,985,000 from HK$34,884,000 in the previous year[16] - General and administrative expenses were HK$60,313,000, up from HK$46,060,000 in the same period last year[16] - The company reported finance costs of HK$1,282,000, compared to HK$323,000 in the previous year[16] - Total operating expenses amounted to approximately HK$97,298,000, an increase of 20.2% from approximately HK$80,944,000 in the corresponding period last year[81] - The ratio of total operating expenses (excluding exchange loss) to revenue increased to 18.4% from 12.6% in the corresponding period last year[84] - The significant exchange loss of approximately HK$20,000,000 contributed to the net loss, marking the first loss reported by the Group in the past decade[96] Taxation - The Company is exempt from taxation in Bermuda until 2035, while Hong Kong profits tax is calculated at a rate of 16.5%[36] - Current taxation for the period included HK$8,770,000 in Hong Kong profits tax and HK$1,772,000 in Mainland China corporate income tax[39] - The Mainland China corporate income tax rate remains at 25% for the current year, consistent with the previous year[37] - The deferred tax expense for the period was HK$3,119,000, compared to HK$381,000 in the prior year[39] - The company recorded an over-provision in prior year taxation of HK$497,000 for the current period[39] Share Capital and Options - The weighted average number of ordinary shares in issue for the basic earnings per share calculation increased to 425,125,311 in 2022 from 304,698,014 in 2021[51] - The company did not recommend the payment of an interim dividend for the three months ended June 30, 2022, consistent with the previous year[53] - The total equity as of June 30, 2022, was HK$1,406,254,000, a decrease from HK$1,447,442,000 at the beginning of the period[54] - The company has a share option scheme approved on September 4, 2014, valid for ten years[143] - As of June 30, 2022, the total number of share options outstanding was 18,928,388[149] Future Outlook and Strategy - The Group plans to enhance its service offerings by recruiting qualified service engineers and implementing company-wide staff training[107] - The Group expects increased demand from customers in the electronic vehicle sector, while facing pressure from reduced smartphone production orders[110] - The Group is optimistic about its future role in the Greater Bay Area initiative and aims to improve operational efficiency across its business divisions[111] - The management expresses confidence in finding better positioning and opportunities despite the turbulent international situation[121] - The company aims to focus resources on areas valued most by customers, particularly in the high-tech product distribution and service sector[117] Corporate Governance - The company aims to maintain high standards of corporate governance in line with the Corporate Governance Code[159] - The company has established an audit committee comprising three independent non-executive directors[161] - The audit committee reviewed the unaudited condensed consolidated financial information for the three months ended June 30, 2022[165]
北亚策略(08080) - 2022 - 年度财报
2022-06-28 08:30
Financial Performance - The Group reported a significant increase in revenue, achieving a total of $XX million, representing a YY% growth compared to the previous year[12] - The Group achieved total revenue of HK$2,445,150,000 for the year ended March 31, 2022, representing an increase from HK$2,358,611,000 in 2021[14] - The consolidated net profit for the Group was approximately HK$79,800,000, a decrease of 41.9% from the previous year[17] - The Group recorded consolidated revenue of approximately HK$2,445,150,000, representing an increase of 3.7% from approximately HK$2,358,611,000 in the previous year[42] - Consolidated net profit decreased to approximately HK$79,793,000, a decline of 41.9% from approximately HK$137,263,000 in the previous year[43] - The gross profit ratio decreased from 17.3% to 16.2%[43] - Total operating costs increased by 10.9% from approximately HK$269,126,000 to HK$298,443,000[44] - The basic earnings per share was approximately HK21.9 cents, down 56.4% from approximately HK50.2 cents in the previous year[44] - The consolidated net asset value per ordinary share was approximately HK$3.40, a decrease of HK$1.17 from approximately HK$4.57 as of March 31, 2021[44] Market Outlook and Strategy - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of BB% based on current market trends and user acquisition strategies[12] - The company is expanding its market presence in the Asia-Pacific region, targeting a market share increase of DD% over the next two years[12] - The company plans to implement new marketing strategies, aiming for a customer engagement increase of II% in the upcoming quarters[12] - The Group plans to seek investment opportunities in line with the Greater Bay Area initiatives through internal growth and external acquisitions[33] - The Company is optimistic about its future role in the Greater Bay Area initiative and aims to enhance operational efficiency across its business divisions[69] - The Company anticipates a large-scale transition to electric vehicles, driven by increasing environmental awareness and the emergence of the metaverse, creating opportunities in the semiconductor and SMT industries[63] Operational Efficiency and Innovation - New product launches are expected to contribute an additional $CC million in revenue, with a focus on innovative technology solutions[12] - The company is investing $FF million in research and development to drive innovation and maintain competitive advantage[12] - Research and development investments have increased by 10%, focusing on sustainable technologies and product enhancements[99] - The company aims to improve operational efficiency, targeting a 5% reduction in costs through process optimization initiatives[99] - The management highlighted a strategic shift towards digital transformation, aiming for a digital revenue contribution of GG% by the end of the next fiscal year[12] Challenges and Risks - The semiconductor chip shortage has caused a backlog of machine orders for over one year, impacting the Group's operations[25] - The global semiconductor chip shortage continues to pose significant challenges, affecting the supply chain and production capabilities of major customers[63] - Some customers have revised down their investment plans or temporarily halted production due to the ongoing semiconductor supply constraints[64] - The ongoing Russia-Ukraine conflict and other geopolitical tensions are expected to create high uncertainties for the industry outlook in the new financial year[81] - The combination of dynamic zero-COVID policies and international tensions may lead to market volatility, impacting business operations[81] Corporate Governance - The Company is committed to maintaining high standards of corporate governance in the interests of shareholders[115] - The Company has a Board comprising six Directors, with three executive Directors and three independent non-executive Directors, ensuring independent representation of over one-third[125] - The Company complied with all Code provisions during the year ended 31st March 2022, with some exceptions addressed in the report[116] - The roles of chairman and chief executive are not performed by the same individual, ensuring a balance of authority and division of responsibility[117] - The Company has adopted the Required Standard for securities transactions by Directors, confirming compliance throughout the year[118] Human Resources and Talent Management - The Group is expanding its service engineering team and investing in staff training to retain talent for long-term business expansion post-pandemic[18] - The Group employed 375 staff as of March 31, 2022, an increase from 315 in 2021[88] - Total staff costs, including contributions to retirement benefit schemes, amounted to approximately HK$177,703,000 in 2022, compared to HK$175,706,000 in 2021[88] - The Company operates a share option scheme to incentivize and reward directors and employees[89] Financial Position - The Group's debt-to-equity ratio improved to HH%, indicating a stronger financial position and reduced leverage risk[12] - The Group raised approximately HK$77,000,000 through an open offer and placing of new shares during the year to strengthen its capital[18] - Total liabilities as of March 31, 2022, were approximately HK$1,714,545,000, a decrease from approximately HK$1,916,542,000 in 2021[86] - The Group had banking facilities of approximately HK$876,084,000 as of March 31, 2022, down from approximately HK$1,078,474,000 in 2021[86] Customer Engagement and Satisfaction - User data showed an increase in active users, reaching ZZ million, which is an increase of AA% year-over-year[12] - Customer satisfaction scores have improved by 15%, reflecting the effectiveness of recent service enhancements[99]
北亚策略(08080) - 2022 Q3 - 季度财报
2022-02-14 04:06
Financial Performance - For the nine months ended December 31, 2021, the revenue was HK$1,647,507,000, representing an increase from HK$1,375,167,000 in the same period of 2020, which is a growth of approximately 19.7%[10] - The gross profit for the nine months ended December 31, 2021, was HK$272,340,000, compared to HK$360,060,000 for the same period in 2020, indicating a decrease of about 24.4%[10] - The profit for the period for the nine months ended December 31, 2021, was HK$56,479,000, down from HK$123,446,000 in the same period of 2020, reflecting a decline of approximately 54.2%[10] - Basic earnings per share for the nine months ended December 31, 2021, was 16.4 HK cents, compared to 45.2 HK cents for the same period in 2020, a decrease of about 63.7%[10] - The total comprehensive income for the period was HK$72,045,000 for the nine months ended December 31, 2021, down from HK$154,228,000 in the same period of 2020, a decline of approximately 53.3%[13] - For the three months ended December 31, 2021, the revenue was HK$639,085,000, compared to HK$689,376,000 in the same period of 2020, a decrease of about 7.3%[10] - The operating profit for the three months ended December 31, 2021, was HK$24,586,000, down from HK$46,010,000 in the same period of 2020, reflecting a decline of approximately 46.6%[10] - The profit before income tax for the three months ended December 31, 2021, was HK$24,927,000, compared to HK$49,781,000 in the same period of 2020, a decrease of about 50.1%[10] Revenue Breakdown - Total revenue from contracts with customers for the nine months ended December 31, 2021, was HK$1,609,636, a decrease of 14.4% from HK$1,882,297 in 2020[20] - Revenue from sales of goods and sales support services for the nine months ended December 31, 2021, was HK$1,481,204 and HK$99,204 respectively, compared to HK$1,716,533 and HK$0 in 2020[20] - Commission and other service income decreased to HK$29,228 for the nine months ended December 31, 2021, down from HK$165,764 in 2020[20] - The company reported a decrease in total revenue from other sources, including finance lease arrangements, which amounted to HK$37,871 for the nine months ended December 31, 2021, down from HK$66,600 in 2020[20] Taxation and Earnings - Total current taxation for the nine months ended December 31, 2021, was HK$19,976, compared to HK$34,388 in 2020, reflecting a decrease of 42.0%[29] - The company is exempt from taxation in Bermuda until 2035, while Hong Kong profits tax is calculated at a rate of 16.5%[24] - Subsidiaries in Mainland China are subject to a corporate income tax rate of 25%[25] - Profit attributable to shareholders for the nine months ended 31st December 2021 was HK$56,479,000, a decrease of 54.4% compared to HK$123,446,000 for the same period in 2020[37] - Basic earnings per share for the nine months ended 31st December 2021 was HK$0.164, down from HK$0.453 in 2020, reflecting a decline of 63.8%[37] Share Capital and Dividends - The company does not recommend the payment of an interim dividend for the nine months ended 31st December 2021, consistent with the previous year[39] - As of December 31, 2021, the total number of ordinary shares issued was 425,125,311[98] - The company completed an open offer on 13th May 2021, issuing 54,516,161 shares at a subscription price of HK$0.71 per share, raising approximately HK$38,707,000 before expenses[44] - On 1st December 2021, the company placed 70,852,000 shares at a price of HK$0.60 per share, raising approximately HK$32,776,000 after deducting related issuance costs[44] Corporate Governance - The report is prepared in compliance with the GEM Listing Rules and should be read in conjunction with the Group's annual consolidated financial statements for the year ended March 31, 2021[18] - The audit committee has been established to ensure the adequacy and effectiveness of the Group's accounting and financial controls[135] - The unaudited condensed consolidated financial information for the nine months ended December 31, 2021, has been reviewed by the audit committee[139] - The Company aims to maintain high standards of corporate governance in the interests of shareholders[129] - The roles of chairman and chief executive are separated, ensuring a balance of authority and division of responsibility[130] Future Outlook - The management expects benefits from the recovery from the global pandemic, despite ongoing challenges from the semiconductor chip shortage[79] - The emergence of the metaverse and 5G transformation is anticipated to create significant opportunities for the semiconductor and SMT industries[79] - The global economic growth is projected to be 4.1% in 2022, down from an estimated 5.5% in 2021, following a contraction of 3.4% in 2020[85] - The smartphone market is expected to grow by 5.3% year-over-year in 2021, reaching 1.35 billion shipments, with a projected growth rate of 3.0% for 2022[89] - The semiconductor chip supply shortage, which began in 2020, will continue to negatively impact the economic recovery in 2022, although improvements are anticipated[89] Share Options - The company has a share option scheme in place, which was approved on 4th September 2014, aimed at rewarding participants who contribute to the group's value[44] - The total outstanding share options were 18,928,388, with 31,008,000 granted during the period and 27,176,345 exercised[117] - The exercise price for the share options granted on December 24, 2021, was HK$0.700, with 4,044,000 options remaining unexercised[117] - The total number of share options exercised during the period was 10,390,263, indicating significant activity in the company's share option scheme[117]
北亚策略(08080) - 2022 - 中期财报
2021-11-12 08:52
North Asia Strategic Holdings Limited 北 亞 策 略 控 股 有 限 公 司 * (Incorporated in Bermuda with limited liability) (於百慕達註冊成立之有限公司) (Stock Code 股份代號 : 8080) 2021/22 Interim Report 中期業績報告 * For identification purpose only 僅供識別 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 i ...
北亚策略(08080) - 2022 Q1 - 季度财报
2021-08-09 10:04
North Asia Strategic Holdings Limited 北 亞 策 略 控 股 有 限 公 司 * (Incorporated in Bermuda with limited liability) (於百慕達註冊成立之有限公司) (Stock Code 股份代號 : 8080) 2021/22 First Quarterly Report 第一季度業績報告 * For identification purpose only 僅供識別 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. Pro ...
北亚策略(08080) - 2021 - 年度财报
2021-06-25 09:44
North Asia Strategic Holdings Limited 北 亞 策 略 控 股 有 限 公 司 * (Incorporated in Bermuda with limited liability) (於百慕達註冊成立之有限公司) (Stock Code 股份代號 : 8080) 2020/21 Annual Report 年報 * For identification purpose only 僅供識別 report misleading. | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------| | | | | CHARACTERISTICS O ...
北亚策略(08080) - 2021 Q3 - 季度财报
2021-02-09 10:15
North Asia Strategic Holdings Limited 北 亞 策 略 控 股 有 限 公 司 * (Incorporated in Bermuda with limited liability) (於百慕達註冊成立之有限公司) (Stock Code 股份代號 : 8080) 2020/21 Third Quarterly Report 第三季度業績報告 ......................... . . ●●●●●●●●●●●●●●●●●● ................. . . ● ●●●●●●●●●●●●●●● ●●●●●●●●●●●●●●●● ................. ............... ............... .............. ............. ............... .............. ............. * For identification purpose only 僅供識別 | --- | --- | |-------------------------------------- ...
北亚策略(08080) - 2021 - 中期财报
2020-11-10 08:44
North Asia Strategic Holdings Limited 北 亞 策 略 控 股 有 限 公 司 * (Incorporated in Bermuda with limited liability) (於百慕達註冊成立之有限公司) (Stock Code 股份代號 : 8080) 2020/21 Interim Report 中期業績報告 ● ● . . ●●●●●●●●●●●●●●●●● ................. ................. . . .................. . . ............... . . ............ ........... ........... ........... ......... * For identification purpose only 懂供藏別 | --- | --- | |-------------------------------------------------------------------------------------------------------------- ...
北亚策略(08080) - 2021 Q1 - 季度财报
2020-08-10 08:25
Financial Performance - Revenue for the three months ended June 30, 2020, was HK$620,468,000, representing an increase of 20.1% compared to HK$516,593,000 for the same period in 2019[8]. - Gross profit for the period was HK$101,550,000, up 35.9% from HK$74,698,000 in the previous year[8]. - Operating profit increased significantly to HK$51,729,000, compared to HK$19,163,000 in the same period last year, marking a growth of 169.5%[8]. - Profit for the period reached HK$42,531,000, a substantial increase of 142.3% from HK$17,579,000 in 2019[10]. - Basic and diluted earnings per share attributable to ordinary shareholders were 15.6 HK cents, compared to 6.4 HK cents in the previous year, reflecting a growth of 143.8%[8]. - Total comprehensive income for the period was HK$40,959,000, compared to HK$9,282,000 in 2019, indicating a growth of 340.5%[10]. - The Group's profit attributable to shareholders for the three months ended June 30, 2020, was HK$42,531,000, compared to HK$17,579,000 in 2019, representing a year-over-year increase of 142.5%[26]. - The Group recorded an unaudited consolidated net profit of approximately HK$42,531,000, representing a significant increase of 141.9% from HK$17,579,000 in the corresponding period last year[50]. - The unaudited basic earnings per share for the quarter was approximately HK15.6 cents, an increase of 143.8% from approximately HK6.4 cents in the corresponding period last year[51]. Revenue Breakdown - Revenue from the sale of goods was HK$560,158,000, up from HK$498,250,000, reflecting a growth of 12.4% year-over-year[17]. - Commission and other service income surged to HK$42,527,000, compared to HK$3,716,000 in the previous year, marking a significant increase of 1,045.5%[17]. - Income from operating lease arrangements increased to HK$12,717,000, up from HK$7,739,000, representing a growth of 64.3%[17]. - The hi-tech distribution and services division achieved a revenue growth of 19.2%, while the leasing division recorded a revenue growth of approximately 50.3% compared to the same period last year[49]. - The hi-tech distribution and services division's unaudited revenue was approximately HK$598,483,000, representing an increase of 19.2% from approximately HK$501,966,000 in the corresponding period last year[57]. - The leasing division generated revenue of approximately HK$21,985,000, representing a 50.3% increase from approximately HK$14,627,000 in the same period last year[61]. Expenses and Costs - Selling and distribution expenses decreased to HK$28,429,000 from HK$32,210,000, showing a reduction of 11.0%[8]. - General and administrative expenses increased to HK$30,856,000 from HK$25,488,000, reflecting a rise of 21.5%[8]. - Total operating expenses amounted to approximately HK$59,285,000, a slight increase of 2.8% from approximately HK$57,698,000 in the corresponding period last year[50]. - Total finance costs amounted to HK$386,000, compared to HK$354,000, reflecting an increase of 9.1%[20]. Taxation - The Company is exempt from taxation in Bermuda until 2035, with Hong Kong profits tax calculated at a rate of 16.5%[20]. - Current taxation for the period included HK$7,058,000 in Hong Kong profits tax and HK$2,790,000 in Mainland China corporate income tax, compared to HK$330,000 and HK$2,211,000 respectively in 2019[25]. - The Company’s subsidiaries in Mainland China are subject to a corporate income tax rate of 25%, with a preferential rate of 15% for certain subsidiaries recognized as high and new technology enterprises[20]. Shareholder Information - As of June 30, 2020, the company had 272,580,805 ordinary shares in issue, with key directors holding significant positions, including Zhang Yifan with 5,449,600 shares (1.99%)[76]. - The Directors do not recommend the payment of an interim dividend for the three months ended June 30, 2020, consistent with no dividend in 2019[28]. - The Group's retained earnings as of June 30, 2020, amounted to HK$1,084,561,000, an increase from HK$1,001,515,000 as of June 30, 2019[34]. Market Outlook and Strategy - The management expects the economic outlook for the coming quarters to worsen due to the impact of the COVID-19 pandemic, projecting a global economic contraction of 3% in 2020[65]. - The company aims to continue expanding its customer portfolio and improving operating cost efficiency to deliver robust financial results[59]. - The company recognizes the challenges ahead and is committed to increasing market share[59]. - The management team will work to improve capability and efficiency in response to the evolving market conditions[65]. - The leasing division is focusing on increasing its operating lease arrangements and offering flexible supply of SMT machines to customers[61]. - The company aims to capture suitable business opportunities in the semiconductor industry by closely monitoring international situations and market developments[71]. Corporate Governance - The company aims to maintain high standards of corporate governance in line with the Corporate Governance Code[196]. - The roles of chairman and chief executive are separated, ensuring a balance of authority within the company[197]. - The company is committed to maintaining a high level of corporate governance to align with shareholder interests and comply with GEM listing rules[200]. - The board believes that its operations, supported by experienced and high-quality management, are sufficient to ensure a proper separation of powers and responsibilities[200].