CENTURY EN INTL(08132)

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百能国际能源(08132) - 2021 - 年度财报
2021-06-30 08:35
Financial Performance - For the fiscal year ending March 31, 2021, the company's revenue was approximately HKD 110.7 million, an increase of about 73.0% compared to approximately HKD 64.0 million in the previous year[10] - The company reported a loss attributable to owners of approximately HKD 38.0 million, which is a 19.1% increase from the loss of approximately HKD 31.9 million in the previous year[10] - Revenue from mobile power and data cables reached approximately HKD 57.2 million, a year-on-year increase of about 101.4% compared to HKD 28.4 million in 2020, driven by the launch of new adult and children's headphones[17] - Revenue from medical control devices was approximately HKD 49 million, representing a year-on-year increase of about 61.7% from HKD 30.3 million in 2020, attributed to the introduction of new hospital ward controllers[20] - Revenue from household appliance power cords and sockets was approximately HKD 4.5 million, a year-on-year decrease of about 13.5% from HKD 5.2 million in 2020, due to intense market competition[21] - The company recorded no revenue from commodity trading this fiscal year, compared to approximately HKD 100,000 in 2020[24] - The group’s revenue increased by 73.0% compared to the previous year, attributed to the launch of new products since Q4 of the fiscal year ending March 31, 2020[44] Market and Product Development - The company introduced new products, including adult and children's headphones and hospital ward controllers, which contributed to the revenue increase[10] - The company aims to expand its market presence and product offerings in the energy and chemical trading sectors[15] - The company plans to focus on the power and data cable business while continuing to seek opportunities in the trading of refined oil and chemical products[44] - New product launches are anticipated to contribute an additional HKD 500 million in revenue over the next year[108] - Market expansion plans include entering two new regions, which are expected to increase market share by 5%[110] Corporate Governance and Compliance - The company has established a non-binding memorandum of understanding with Beyond Group DMCC for a potential joint venture in oil equipment[99] - The board has established guidelines to clearly define the responsibilities of the board and management[143] - The company has conducted an annual review of the need to establish an internal audit department, with risk management and internal control audits performed by a third party[139] - The board will continue to monitor and review the company's corporate governance practices to ensure compliance with the code[140] - The board of directors is responsible for the overall strategy and policy of the company, ensuring maximum shareholder value[144] - The company has implemented a code of conduct for directors regarding securities trading, confirming compliance throughout the fiscal year[158] Financial Position and Debt Management - As of March 31, 2021, the group's total debt was approximately HKD 143.6 million, up from approximately HKD 138.6 million in 2020[52] - The group's cash and bank balances as of March 31, 2021, were approximately HKD 11.8 million, compared to approximately HKD 10.1 million in 2020[52] - The asset-liability ratio as of March 31, 2021, was approximately 757.8%, significantly higher than 311.6% in 2020[54] - The company has no outstanding debts, maintaining a strong balance sheet with a cash reserve of HKD 1 billion[112] Shareholder and Capital Management - The company has signed a legally binding consulting contract with a natural gas company, estimating revenue and gross profit from the contract to be approximately HKD 2.2 million each[25] - The company intends to increase its authorized share capital from HKD 8 million to HKD 40 million to support future expansion and growth[54] - The company aims to maintain a public shareholding of at least 25% of the issued shares[37] - The company has issued 42,750,550 unexercised share options as of the report date[37] - The company has a total of 35,712,281 shares available for issuance under the stock option plan, which is capped at 10% of the issued share capital as of the date of listing on the stock exchange[87] Risk Management and Internal Controls - The company has implemented a risk management and internal control system designed to manage and mitigate risks that could prevent the achievement of business objectives[173] - The audit committee assessed the effectiveness of the group's risk management and internal control systems, ensuring robust governance practices[165] - The board reviews the effectiveness of the risk management and internal control system, considering changes in significant risks and the company's ability to respond to business and external environment changes[177] - An independent consultant has been appointed to conduct a review of the internal control functions, covering risk management, corporate governance, financial reporting, and other operational areas from April 1, 2020, to March 31, 2021[178] ESG and Corporate Social Responsibility - The group is committed to corporate social responsibility and sustainable development, integrating these principles into its operations[195] - The ESG report outlines the group's management of significant issues impacting operations and its performance in environmental and social aspects during the reporting period from April 1, 2020, to March 31, 2021[191] - Stakeholder engagement is crucial for the group's sustainable development strategy, identifying expectations and concerns to create value for both the company and society[199] - The board is responsible for overseeing the group's ESG strategies, policies, and measures, ensuring effective risk management and internal controls[195] Executive Management and Board Composition - The company has appointed four executive directors with a monthly salary reduction from HKD 20,000 to HKD 10,000 due to financial conditions[92] - The board consists of 7 executive directors and 4 independent non-executive directors as of March 31, 2021[148] - The independent non-executive directors confirmed their independence according to GEM listing rules, ensuring diverse expertise and independent judgment for the board[157] - The company emphasizes continuous professional development for directors, providing comprehensive onboarding materials for new appointees[146] Legal and Regulatory Matters - There are no significant legal proceedings against the company as of the report date, although there are ongoing liquidation proceedings initiated by a creditor[127][128] - The Cayman Islands court has postponed the hearing of the company's application until the earliest possible date after June 30, 2021[131] - The company has received a court order to withdraw the liquidation application, and the appointment of the provisional liquidator has been released[132]
百能国际能源(08132) - 2021 Q3 - 季度财报
2021-02-24 08:30
Financial Performance - The company's unaudited revenue for the nine months ended December 31, 2020, was approximately HKD 94.9 million, an increase of about 177% compared to approximately HKD 34.3 million in the same period last year[4]. - Revenue from mobile power and data cables increased by approximately 222.7% to about HKD 49.7 million, up from approximately HKD 15.4 million in the previous year, driven by the launch of new adult and children's headphones[13]. - Revenue from medical control devices reached approximately HKD 41.5 million, a 192.3% increase from approximately HKD 14.2 million in the previous year, attributed to the introduction of a new hospital ward controller[18]. - Revenue for the three months ended December 31, 2020, was HKD 34,161,000, compared to HKD 10,722,000 for the same period in 2019, representing a significant increase of 218%[36]. - Gross profit for the nine months ended December 31, 2020, was HKD 18,051,000, up from HKD 11,202,000 in the previous year, reflecting a growth of 61.5%[36]. - The company’s total revenue for the nine months ended December 31, 2020, was HKD 94,928,000, compared to HKD 34,269,000 in the previous year, marking an increase of 176%[46]. - Other income and gains for the three months ended December 31, 2020, amounted to HKD 983,000, compared to HKD 336,000 in the same period of 2019, reflecting a growth of 192%[46]. Loss and Profitability - The unaudited loss attributable to owners of the company decreased from approximately HKD 23 million in the previous year to approximately HKD 9.9 million, primarily due to reduced director remuneration and lower share-based payment expenses[4]. - The net loss attributable to the owners of the company for the three months ended December 31, 2020, was HKD 2,070,000, an improvement from a loss of HKD 8,609,000 in the same period of 2019[39]. - The company’s total comprehensive loss attributable to owners for the nine months ended December 31, 2020, was HKD (9,840,000), compared to HKD (21,536,000) in the previous year, indicating an improvement[39]. - Basic loss per share for the three months ended December 31, 2020, was HKD (0.5), an improvement from HKD (2.3) in the same period of 2019[39]. - For the nine months ended December 31, 2020, the basic loss per share was approximately HKD 9,877,000, compared to a loss of HKD 23,046,000 for the same period in 2019, resulting in a basic loss per share of HKD 0.026[55]. Dividends and Shareholder Matters - The company does not recommend paying dividends for the current financial period[5]. - The company did not recommend the payment of dividends for the nine months ended December 31, 2020, consistent with the previous year[56]. - As of December 31, 2020, the beneficial owner, Mr. Zou Donghai, holds 35,000,000 shares, representing approximately 9.21% of the company's total shareholding[78]. - The company did not receive any notifications regarding major shareholders holding any short positions in the company's shares as of December 31, 2020[79]. Corporate Governance and Compliance - The Audit Committee, established on April 27, 2011, consists of three independent non-executive directors who reviewed the group's unaudited consolidated performance during the financial period[80]. - All directors confirmed compliance with the trading standards during the financial period, as per the GEM Listing Rules[81]. - The company or its subsidiaries did not purchase, sell, or redeem any of the company's listed securities during the financial period[83]. - There are no interests held by directors or major shareholders in any business that competes directly or indirectly with the group's business[84]. Subsidiaries and Investigations - The group lost control of several subsidiaries as of January 1, 2019, which has impacted the consolidation of their financial performance[6]. - The company has established a special investigation committee to investigate matters related to the loss of control over subsidiaries[7]. - The forensic investigation into the loss of control over subsidiaries is being conducted by an independent professional firm to identify potential breaches of fiduciary duty[10]. Taxation - The group’s tax provision for the three months ended December 31, 2020, included a reversal of temporary differences amounting to HKD 783,000, compared to a reversal of HKD (3,262,000) in the same period of 2019[54]. - The group’s tax provision for the nine months ended December 31, 2020, included a tax expense of HKD 2,284,000, compared to a tax expense of HKD (3,783,000) in the same period of 2019[54]. - The group’s tax rate for qualifying entities under the two-tiered profits tax system is 8.25% for the first HKD 2,000,000 of taxable profits, and 16.5% for profits exceeding that amount[54]. - The group’s Chinese subsidiaries are subject to a corporate income tax rate of 25% for the fiscal year and relevant periods[54]. Stock Options and Share Issuance - The company has a share option scheme in place to attract and retain talented participants for future development and expansion[64]. - The company reported a total of 3,000,000 stock options granted, representing 0.79% of the total shares[74]. - Another 3,500,000 stock options were granted, accounting for 0.92% of the total shares[74]. - As of December 31, 2020, the company had a total of 11,000,000 stock options outstanding, which is 2.89% of the total shares[74]. - The company has undergone adjustments to stock options due to share splits and consolidations effective on March 25, 2014, September 30, 2016, and November 29, 2018[70]. - The exercise price of the stock options has been adjusted accordingly due to the aforementioned share splits and consolidations[70]. - The company’s stock options plan allows for the issuance of ordinary shares, with specific details outlined in the report[74]. - The company’s directors and senior executives hold significant interests in the company’s shares, with specific percentages disclosed[74]. - The company’s stock options are set to expire on various dates, with some options granted as early as April 16, 2019[69]. - The company has a total of 2,112,500 shares under option, representing 0.54% of the total shares[74]. - The company’s stock options are part of a broader strategy to incentivize key personnel and align their interests with shareholders[74]. Future Plans and Contracts - The company plans to focus financial resources and management attention on the power and data cable business while continuing to seek opportunities in the trading of refined oil and chemical products[32]. - The estimated revenue and gross profit from a consulting contract with a natural gas company are approximately HKD 2,200,000 each, with the contract expected to be delayed until August 2021 due to the COVID-19 pandemic[23]. - The company signed a liquefied natural gas supply contract to provide approximately 20,000 tons of LNG between July and December 2020, with negotiations ongoing to extend the contract period[24].
百能国际能源(08132) - 2021 - 中期财报
2020-11-23 08:30
Financial Performance - For the six months ended September 30, 2020, the company's unaudited revenue was approximately HKD 60.8 million, an increase of about 158.1% compared to approximately HKD 23.5 million in the same period last year[24]. - The unaudited loss attributable to owners of the company decreased from approximately HKD 14.4 million in the previous year to approximately HKD 7.8 million, primarily due to a reduction in director remuneration and share-based payment expenses[24]. - The gross profit for the six months ended September 30, 2020, was HKD 11,694,000, compared to HKD 6,820,000 for the same period in 2019, indicating a year-on-year increase of approximately 71.5%[62]. - The operating profit for the six months ended September 30, 2020, was HKD 1,770,000, a significant recovery from an operating loss of HKD 4,676,000 in the same period of 2019[62]. - The total comprehensive loss for the period was HKD 5,354,000, a decrease from a loss of HKD 13,602,000 in the same period last year, showing an improvement in financial performance[96]. - The net loss attributable to owners of the company for the six months ended September 30, 2020, was HKD 7,807,000, compared to a loss of HKD 14,437,000 in the same period of 2019, showing an improvement of approximately 45.5%[65]. Revenue Breakdown - Revenue from mobile power and data cables increased by 180.2% to approximately HKD 31.1 million, up from approximately HKD 11.1 million in the previous year, attributed to the introduction of new adult and children's headphones[32]. - The contribution to total unaudited revenue from the United States and China was approximately 16.3% and 51.9%, respectively, compared to 38.4% and 48.4% in the previous year[27]. - The remaining approximately 31.8% of total revenue came from other markets, including Taiwan and Hong Kong, compared to 13.2% in the previous year[27]. - The unaudited revenue from medical control devices for the interim period was approximately HKD 27,000,000, representing an increase of about 200% compared to HKD 9,000,000 in 2019[36]. - The unaudited revenue from household appliance power cords and sockets was approximately HKD 2,700,000, a decrease of about 18.2% from HKD 3,300,000 in 2019 due to intense market competition[40]. - The unaudited revenue from commodity trading was zero, down from approximately HKD 100,000 in 2019[41]. Cash Flow and Debt - The group’s total employee cost for the interim period was approximately HKD 5,400,000, down from HKD 15,400,000 in the same period last year[46]. - As of September 30, 2020, the total debt of the group was approximately HKD 139,800,000, compared to HKD 138,600,000 as of March 31, 2020[50]. - The group’s bank balance and cash amounted to approximately HKD 21,800,000, an increase from HKD 10,100,000 as of March 31, 2020[50]. - The net cash generated from operating activities for the six months ended September 30, 2020, was HKD 14,576,000, compared to HKD 5,347,000 for the same period in 2019, representing a significant increase[80]. - The net cash used in financing activities was HKD 2,774,000 for the six months ended September 30, 2020, compared to HKD 4,316,000 in the same period last year, indicating improved cash management[80]. Business Segments - The company operates in three main business segments: power and data cable business, trading of refined oil and chemicals, and commodity trading[27]. - The group continues to engage in the assembly and sale of medical control devices primarily for hospital ward patients[31]. - The group plans to continue seeking opportunities in the trading of finished oil and chemical products but will adopt a more conservative approach for any developments in this business segment[45]. Corporate Governance - The company has adhered to all provisions of the corporate governance code during the interim period, except for the establishment of an internal audit department, which is under review due to the simple operational structure[160]. - The board of directors is continuously monitoring and reviewing the company's corporate governance practices to ensure compliance with the code[162]. - The audit committee, established on April 27, 2011, consists of three independent non-executive directors who reviewed the unaudited consolidated performance for the interim period[186]. Shareholder Information - The company did not recommend the payment of dividends for the interim period[25]. - The company had a total of 11,000,000 shares outstanding, representing a 2% increase in equity compared to the previous period[179]. - The total number of unexercised stock options as of April 16, 2019, was 3,500,000, reflecting a stable equity structure[173]. - The total number of shares held by the directors represents a significant portion of the company's equity, indicating strong insider confidence[178]. - The beneficial owner, Mr. Zou Donghai, holds 35,000,000 ordinary shares and 3,800,000 options, representing approximately 10.21% of the company's total shareholding[182].
百能国际能源(08132) - 2021 Q1 - 季度财报
2020-09-25 08:32
Financial Performance - The company's unaudited revenue for the nine months ended December 31, 2019, was approximately HKD 34.3 million, a decrease of about 62% compared to approximately HKD 90.4 million in the same period last year[6]. - The unaudited loss attributable to the owners of the company decreased from approximately HKD 39.3 million in the previous year to approximately HKD 23 million, primarily due to a write-off of HKD 5.7 million from a registered subsidiary and a reduction in credit loss provisions[6]. - Revenue from the power and data cable business fell by approximately 32.2% to about HKD 15.4 million, down from HKD 22.7 million in the previous year, attributed to intense market competition[13]. - Revenue from medical control devices was approximately HKD 14.2 million, a year-on-year decline of about 18.4% from HKD 17.4 million, due to decreased demand from a customer in another country[17]. - Revenue from household appliance power cords and sockets was approximately HKD 4.6 million, down about 29.2% from HKD 6.5 million in the previous year, also due to market competition[18]. - Revenue from commodity trading was approximately HKD 100,000, a significant decrease from HKD 6.8 million in the previous year[19]. - The company recorded no revenue for the current fiscal period, compared to HKD 37,000,000 in 2018 due to the cancellation of consolidated financial statements from subsidiaries[20]. - The unaudited revenue from sales of power supplies, data cables, and sockets decreased by 35.8% compared to the same period last year, reflecting challenges in the macroeconomic environment[32]. - For the three months ended December 31, 2019, the company reported revenue of HKD 10,722,000, compared to HKD 6,340,000 for the same period in 2018, representing a year-over-year increase of 69.5%[34]. - For the nine months ended December 31, 2019, total revenue was HKD 42,408,000, up from HKD 37,085,000 in the previous year, reflecting a growth of 8.9%[34]. Loss and Profitability - The gross profit for the three months ended December 31, 2019, was HKD 4,382,000, compared to HKD 5,323,000 in the same period of 2018, indicating a decrease of 17.7%[34]. - The net loss for the three months ended December 31, 2019, was HKD 4,845,000, an improvement from a net loss of HKD 11,961,000 in the same period of 2018[34]. - The company reported a total comprehensive income of HKD 1,235,000 for the three months ended December 31, 2019, compared to a total comprehensive loss of HKD 10,321,000 in the previous year[34]. - Basic and diluted loss per share for the three months ended December 31, 2019, was HKD (2.3), compared to HKD (3.1) for the same period in 2018[37]. - For the nine months ended December 31, 2019, the basic loss per share was approximately HKD 23,046,000, compared to HKD 39,312,000 for the same period in 2018[54]. Dividends and Share Capital - The company did not recommend the payment of dividends for the financial period[7]. - The group did not recommend any dividend for the nine months ended December 31, 2019, consistent with the previous year[56]. - A total of 17,570,000 new shares were proposed to be issued at HKD 0.33 per share, representing approximately 4.62% of the existing issued share capital, but the agreement lapsed due to unmet conditions[28]. - The company completed a subscription agreement for 49 new shares at a total subscription price of HKD 2,000,000, maintaining a 51% ownership in the subsidiary[27]. - The weighted average number of ordinary shares for the nine months ended December 31, 2019, was 380,019,818, an increase from 338,941,000 shares in the same period of 2018[54]. Taxation and Liabilities - The group’s Chinese subsidiaries are subject to a corporate income tax rate of 25%, with one subsidiary eligible for a reduced rate of 15% as a high-tech enterprise[53]. - The actual interest expenses for the nine months ended December 31, 2019, totaled HKD 13,066,000, compared to HKD 9,092,000 for the same period in 2018[50]. - The group reported a deferred tax expense of HKD 2,818,000 for the nine months ended December 31, 2019, compared to a deferred tax expense of HKD 605,000 for the same period in 2018[50]. - The group had no significant contingent liabilities as of December 31, 2019[58]. - The company has a remaining receivable of HKD 22,000,000 related to a profit guarantee, which has not been recovered, and the board considers the chance of recovery to be minimal[24]. Business Strategy and Operations - The company plans to continue operating in the trading of refined oil and chemical products but will adopt a more conservative approach to any developments or expansions in this business segment[32]. - The company is focusing on enhancing revenue and profitability from existing products while seeking opportunities for new product launches[32]. - The company has reviewed its business operations and financial status to formulate sustainable business plans, concentrating resources on the power supply and data cable business[32]. - The group manufactured over 40 types of power and data cables for mobile and personal care products during the financial period[12]. Stock Options and Corporate Governance - The company has a stock option plan aimed at attracting and retaining talented participants for future development and expansion[62]. - The company granted stock options totaling 11,000,000 shares at an exercise price of HK$0.36, valid from April 16, 2019, to April 15, 2022[64]. - The company issued stock options for 3,800,000 shares at an exercise price of HK$0.36, valid from April 16, 2019, to April 15, 2022[68]. - The total number of stock options granted to senior executives was 5,640,000 shares, representing 1.48% of the issued shares[67]. - The company reported a total of 2,640,000 shares with an exercise price of HK$2.52, valid from April 21, 2017, to April 20, 2020[66]. - The company has a total of 3,500,000 shares with an exercise price of HK$0.36, valid from April 16, 2019, to April 15, 2022[68]. - The company’s stock options plan includes a total of 3,000,000 shares at an exercise price of HK$0.38, valid from April 16, 2019, to April 15, 2022[68]. - The company’s stock options plan allows for a total of 2,179,350 shares at an exercise price of HK$3.28, valid from February 16, 2015, to February 15, 2025[68]. - The company has issued stock options totaling 8,450,000 shares at an exercise price of HK$0.92, valid from April 11, 2018, to April 10, 2021[68]. - The Audit Committee was established on April 27, 2011, consisting of three independent non-executive directors[72]. - All directors confirmed compliance with the trading standards during the financial period[73]. - No purchase, sale, or redemption of the company's listed securities occurred during the financial period[76]. - There were no competitive business interests held by directors or controlling shareholders during the financial period[77].
百能国际能源(08132) - 2021 Q1 - 季度财报
2020-08-26 08:46
Financial Performance - The company's unaudited revenue for the three months ended June 30, 2019, was approximately HKD 12,400,000, a decrease of about 53.4% compared to approximately HKD 26,600,000 in the same period last year[8]. - The unaudited loss attributable to the company's owners increased from approximately HKD 11,400,000 in the previous year to approximately HKD 12,700,000, primarily due to a decrease in gross profit during the financial period[8]. - The company reported a 53.4% decrease in unaudited revenue from sales of power supplies, data cables, and sockets during the fiscal period, reflecting the challenges posed by the global economic environment[34]. - The company's revenue for the three months ended June 30, 2019, was HKD 12,417,000, a decrease of 53.3% compared to HKD 26,591,000 for the same period in 2018[36]. - Gross profit for the same period was HKD 3,905,000, down 22.0% from HKD 5,004,000 in 2018[36]. - Operating loss increased to HKD 11,475,000, compared to a loss of HKD 9,111,000 in the previous year, reflecting a deterioration of 26.1%[36]. - The company reported a loss before tax of HKD 15,701,000, which is a 24.0% increase from HKD 12,667,000 in 2018[36]. - The total comprehensive loss for the period was HKD 13,472,000, significantly lower than HKD 36,455,000 in the same quarter of the previous year, indicating a reduction of 63.0%[36]. - Basic and diluted loss per share for the period was HKD 3.3, compared to HKD 3.7 in the same period last year, showing a slight improvement[38]. - Other income and gains decreased to HKD 1,023,000 from HKD 6,878,000, a decline of 85.2% year-on-year[48]. - Financing costs rose to HKD 4,226,000, up from HKD 3,556,000, representing an increase of 18.8%[51]. - The company did not generate taxable profits in Hong Kong during the period, resulting in no provision for Hong Kong profits tax[52]. - The company has cumulative losses amounting to HKD 24,021,000[58]. - The company reported a total equity of HKD 101,657,000 as of the reporting date[58]. Revenue Breakdown - The contribution to total unaudited revenue from the US and China was approximately 45% (2018: 16%) and approximately 37% (2018: 66%), respectively, with the remaining 18% from other markets including Taiwan and Hong Kong[14]. - Revenue from household appliance power cords and sockets was approximately HKD 2,200,000, a year-on-year decrease of about 21.4% from approximately HKD 2,800,000[15]. - Revenue from mobile phone power and data cables decreased by approximately 30.8% to about HKD 4,500,000, down from approximately HKD 6,500,000 in the previous year[16]. - Revenue from medical control device power and data cables was approximately HKD 5,600,000, a decrease of about 12.5% from approximately HKD 6,400,000 in the previous year[16]. Business Operations and Strategy - The group has diversified its business portfolio, including LNG, CNG, and other related clean energy businesses, as well as retail of refined oil products[11]. - The company is committed to expanding its market share and profitability despite the low-growth economic conditions expected in 2019 and beyond[34]. - The company is actively seeking diversified revenue sources and investment opportunities to mitigate risks and enhance shareholder value[34]. - The company has successfully obtained a refined oil retail operating approval certificate from the Jiangxi Provincial Department of Commerce, allowing it to engage in refined oil retail operations[25]. - The company is collaborating with top research institutions in China to explore the potential for upgrading conversion technologies for LNG-powered vessels[24]. - The company has entered into an agreement to lease six fuel supply vessels with a total capacity of 10,800 tons to expand its refined oil retail business, which is expected to enhance its position in the energy sector and increase future profitability[25]. Financial Reporting and Compliance - The company is currently evaluating the impact of new and revised Hong Kong Financial Reporting Standards but has not identified any significant effects on its performance or financial position[47]. - The company has established an audit committee consisting of three independent non-executive directors[73]. - The company has confirmed that all directors complied with the trading standards during the financial period[74]. - There are no management contracts for the company's business during the financial period[79]. Share Options and Equity - The company has a share option scheme in place to attract and retain talented participants for future development and expansion[62]. - The share option scheme was adopted on April 27, 2011, and is valid for ten years unless cancelled or amended[62]. - The total number of share options granted under the scheme includes 2,640,000 options at an exercise price of HKD 2.52, valid from April 21, 2017, to April 20, 2020[64]. - An additional 3,000,000 options were granted at an exercise price of HKD 10.36, valid from April 16, 2019, to April 15, 2022[64]. - The company has granted 3,800,000 options at an exercise price of HKD 0.36, valid from April 16, 2019, to April 15, 2022[64]. - The total number of options granted under the scheme as of June 30, 2019, includes 11,000,000 options[64]. - As of June 30, 2019, Mr. Zou Donghai holds 35,000,000 shares and 3,800,000 options, totaling 38,800,000 shares, representing 10.21% of the issued shares[68]. - Mr. Rong Changjun holds 5,640,000 options, representing 1.48% of the issued shares[68]. - Dr. Zheng Jianpeng has 2,640,000 shares and 3,800,000 options, totaling 6,440,000 shares, which is 1.69% of the issued shares[68]. - Ms. Xu Xixia holds 3,500,000 options, representing 0.92% of the issued shares[68]. Dividends and Shareholder Returns - The company did not recommend the payment of dividends for the financial period[9]. - The company did not declare or distribute any dividends during the fiscal period[58]. - The company has not purchased, sold, or redeemed any of its listed securities during the financial period[75]. - There are no significant contracts in which directors have a substantial interest during the financial period[78]. Risk Management - The company is focused on risk management and careful decision-making to maintain brand attractiveness and sustainable execution in a challenging macroeconomic environment[34]. - The group ceased consolidating the financial status and performance of certain subsidiaries from January 1, 2019, due to loss of control[10]. - The company has ceased consolidating the financial results of its liquefied natural gas and compressed natural gas businesses from January 1, 2019, due to non-cooperation from certain subsidiaries, resulting in no recorded revenue for these segments during the fiscal period, compared to approximately HKD 7,700,000 in 2018[26]. - The company has also stopped consolidating the financial results of its methyl tert-butyl ether and other chemical products trading from January 1, 2019, leading to no recorded revenue during the fiscal period, compared to approximately HKD 3,000,000 in 2018[29]. - The company has been in discussions with the seller to recover the contingent consideration of HKD 22,000,000 related to the profit guarantee[21]. - The company has terminated two subscription agreements for new shares due to unmet conditions, which were intended to raise capital for future operations[30][31].
百能国际能源(08132) - 2019 Q3 - 季度财报
2019-02-14 22:07
Financial Performance - The unaudited revenue for the nine months ended December 31, 2018, was approximately HKD 90.4 million, a decrease of about 67.2% compared to approximately HKD 275.7 million in the same period last year[4] - The unaudited loss attributable to the owners of the company decreased from approximately HKD 49.8 million in the previous year to approximately HKD 39.3 million, primarily due to an increase in gross profit of about HKD 1.8 million resulting from significantly reduced administrative expenses[4] - Revenue from household appliance power cords and sockets was approximately HKD 2.1 million, a year-on-year decrease of about 64.4% compared to HKD 5.9 million in the previous year[9] - Revenue from mobile phone power and data cables decreased by approximately 39.5% to about HKD 9.2 million, down from approximately HKD 15.2 million in the previous year[11] - The group reported unaudited revenue of HKD 42,408,000 for the three months ended December 31, 2018, compared to HKD 62,835,000 for the same period in 2017, representing a decrease of approximately 32%[47] - The gross profit for the three months ended December 31, 2018, was HKD 5,323,000, down from HKD 582,000 in the same period last year, indicating a significant improvement in gross margin[47] - The operating loss for the three months ended December 31, 2018, was HKD 9,054,000, an improvement from a loss of HKD 17,000,000 in the same period of 2017[47] - The net loss attributable to the owners of the company for the three months ended December 31, 2018, was HKD 11,961,000, compared to a loss of HKD 20,114,000 in the previous year, reflecting a reduction of approximately 41%[49] - The total comprehensive loss for the three months ended December 31, 2018, was HKD 10,321,000, compared to HKD 16,433,000 for the same period in 2017, showing a decrease of about 37%[49] - The company's overall unaudited revenue decreased by 67.2% due to reduced sales in refined oil and methyl tert-butyl ether, as well as declines in sales of power cords and data cables for household appliances, mobile phones, and medical devices[39] Business Developments - The company established a subsidiary in China, Jiangxi China Oil Gangran Energy Technology Co., Ltd., to develop LNG, CNG, and related clean energy businesses, holding a 51% stake[8] - The contribution to total unaudited revenue from the U.S. and China was approximately 21% and 59%, respectively, compared to 7% and 91% in the previous year[8] - The group is actively developing LNG, CNG, and related clean energy businesses, leveraging government policies to enhance profitability and revenue growth[18] - The group has successfully obtained a retail operation approval certificate for refined oil from the Jiangxi Provincial Department of Commerce, enhancing its position in the energy sector[21] - The group has entered into an agreement to lease six oil tankers with a total capacity of 10,800 tons to expand its refined oil sales business in China[19] - The board believes that the development of the refined oil business will contribute to future profitability and overall shareholder interests[21] - The group is collaborating with top research institutions in China to explore upgrading technologies for LNG-powered vessels[18] - The group is exploring potential collaboration projects with Jilin Oilfield Management Bureau, focusing on power upgrades and joint exploration of local oilfields[44] - The group aims to expand into new markets as part of the "Belt and Road" initiative, leveraging its clean energy business foundation to introduce new product categories[44] - The group is currently in the technical and feasibility analysis stage for several potential projects related to clean energy and transportation[44] Financial Management - The company does not recommend paying dividends for the current financial period[5] - The group plans to utilize approximately HKD 28,900,000 of the net proceeds from the placement for repaying maturing promissory notes due by March 31, 2019[25] - The total amount raised from the placement was HKD 41,000,000, with a net amount of approximately HKD 39,650,000 after expenses[24] - The actual net proceeds from the placement were approximately HKD 39,750,000, with specific allocations for operational expenses and marketing[30] - The company issued convertible bonds totaling HKD 15,000,000 with a coupon rate of 1.5%, which will mature on November 2, 2020[31] - The net proceeds from the bond issuance are estimated to be approximately HKD 14,800,000, with HKD 5,000,000 allocated for repaying maturing bills, HKD 2,250,000 for bond interest, and the remaining HKD 7,550,000 for general working capital[33] - The company has allocated approximately HKD 1,742,000 for general operating expenses from the bond proceeds, significantly lower than the planned HKD 7,500,000[34] Governance and Compliance - The company completed a share consolidation where every 20 shares were consolidated into 1 share, effective November 29, 2018[36] - The company appointed new executive and independent non-executive directors on November 22, 2018, to strengthen its governance[37] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated results for the third quarter of the financial period[84] - The company confirmed that all directors complied with the trading standards during the financial period[88] - No purchase, sale, or redemption of the company's listed securities occurred during the financial period[89] - No board members or controlling shareholders held interests in any competing business during the nine months ending December 31, 2018[90] Shareholder Information - As of December 31, 2018, the total number of shares held by directors and senior executives amounted to 35,000,000 shares, representing 9.80% of the issued share capital[80] - The company has no major shareholders or individuals holding 5% or more of the shares as of December 31, 2018[83]