PPS INT'L(08201)

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宝联控股(08201) - 2021 - 中期财报
2021-02-08 14:05
Financial Performance - For the six months ended December 31, 2020, the company's revenue was HK$174,814,000, a decrease of 2.9% compared to HK$179,506,000 for the same period in 2019[14]. - Gross profit for the same period was HK$15,538,000, down 27.1% from HK$21,314,000 in 2019[14]. - Profit before taxation was HK$17,825,000, compared to a loss of HK$650,000 in the previous year, indicating a significant turnaround[14]. - The profit for the period was HK$17,092,000, compared to a loss of HK$2,433,000 in the same period last year, reflecting a strong recovery[14]. - The company reported other income of HK$15,236,000, compared to a loss of HK$8,705,000 in the previous year, showing improved financial performance[14]. - For the six months ended December 31, 2020, the total comprehensive income was HK$18,815,000, compared to a loss of HK$2,573,000 for the same period in 2019[16]. - Profit attributable to owners of the Company for the period was HK$16,598,000, a significant increase from a loss of HK$2,858,000 in the prior year[16]. - Basic and diluted earnings per share increased to 3.07 HK cents, compared to a loss of 0.53 HK cents in the same period last year[16]. Assets and Liabilities - Current assets as of December 31, 2020, totaled HK$221,561,000, up from HK$200,948,000 as of June 30, 2020[19]. - Trade receivables increased to HK$65,482,000 from HK$53,479,000, reflecting a growth of approximately 22.4%[19]. - Cash and cash equivalents rose to HK$79,036,000, compared to HK$65,485,000, indicating a growth of about 20.6%[19]. - Total equity attributable to owners of the Company increased to HK$196,603,000 from HK$178,282,000, representing an increase of approximately 10.2%[20]. - Non-current assets decreased slightly to HK$62,544,000 from HK$64,413,000, a decline of about 2.9%[19]. - The net current assets as of December 31, 2020, were HK$147,538,000, an increase from HK$126,499,000 as of June 30, 2020[19]. Cash Flow - For the six months ended December 31, 2020, the net cash generated from operating activities was HK$11,108,000, slightly up from HK$11,019,000 in the same period of 2019[35]. - The net cash generated from investing activities was HK$2,682,000, a significant recovery from a net cash used of HK$24,313,000 in the previous year[35]. - As of December 31, 2020, cash and cash equivalents increased to HK$79,036,000 from HK$37,957,000 at the end of the previous year[35]. Segment Performance - The Group's reportable segment revenue for the six months ended December 31, 2020, was HK$174,814,000, a slight decrease from HK$179,506,000 in the same period of 2019, representing a decline of approximately 2%[56]. - Revenue from Environmental and Cleaning services was HK$169,240,000 for the six months ended December 31, 2020, compared to HK$169,414,000 in 2019, indicating a decrease of about 0.1%[60]. - Money Lending revenue decreased significantly to HK$5,574,000 in the six months ended December 31, 2020, down from HK$10,092,000 in 2019, reflecting a decline of approximately 44.4%[60]. - The reportable segment profit for Environmental and Cleaning was HK$27,365,000, while Money Lending incurred a loss of HK$5,670,000, resulting in a total profit before taxation of HK$17,825,000 for the Group[60]. Government Support and Subsidies - The company received government grants amounting to HK$24,528,000 during the six months ended December 31, 2020, which were aimed at retaining employees[71]. - The Group received a one-off subsidy of approximately HK$24.3 million from the HKSAR Government under the Employment Support Scheme (ESS) for part of the monthly salaries of employees[165]. Operational Strategies - The company is focused on enhancing its market position and exploring new strategies for growth in the upcoming periods[4]. - The company aims to leverage its financial recovery to explore potential market expansions and new product developments in the future[4]. - The Group plans to strengthen marketing efforts to expand market share in commercial and residential sectors and consolidate resources to focus on high-value customers[181]. - Shanghai operations are expected to expand further with the implementation of quality control and training programs similar to those in Hong Kong, aiming to attract new customers[182]. Risk Management - The Group aims to strengthen its risk management policy and streamline its existing loan portfolio to reduce exposure to high-risk loans[185]. - The management continuously reviews trade receivables and assesses the recoverability of overdue balances[105]. Share Capital and Dividends - The Company has authorized share capital of 10,000,000 shares at HK$0.01 each, with issued and fully paid ordinary shares totaling 540,000 shares[132]. - The Group does not recommend the payment of any dividend for the six months ended December 31, 2020[191]. - No dividend was recommended for the six months ended December 31, 2020, consistent with the same period in 2019, which also had no dividend declared[82][84].
宝联控股(08201) - 2021 Q1 - 季度财报
2020-11-12 08:48
Financial Performance - For the three months ended September 30, 2020, the Group reported revenue of HK$85,531,000, a decrease of 3.5% compared to HK$88,087,000 in the same period of 2019[9]. - The cost of services for the same period was HK$78,050,000, resulting in a gross profit of HK$7,481,000, down 36.5% from HK$11,768,000 in 2019[9]. - Profit before taxation for the period was HK$1,336,000, a decrease of 13.9% compared to HK$1,553,000 in the previous year[9]. - The Group's profit for the period was HK$959,000, representing an increase of 27.9% from HK$750,000 in the same period of 2019[9]. - Total comprehensive income for the period was HK$2,264,000, significantly higher than HK$467,000 in the previous year[11]. - Earnings per share for the period were HK$0.13, up from HK$0.10 in the same period of 2019[11]. - The Group's administrative expenses decreased to HK$5,846,000 from HK$6,569,000, reflecting a reduction of 11%[9]. - Other income for the period was HK$618,000, compared to a loss of HK$2,674,000 in the same period of 2019[9]. - The Group experienced an exchange gain of HK$383,000 from translating foreign operations, compared to a loss of HK$283,000 in the previous year[11]. - Interest income from Money Lending decreased significantly to HK$2,664,000 from HK$5,742,000 year-on-year, reflecting a decline of 53.6%[26]. - The income tax expense for the three months ended September 30, 2020, was HK$377,000, a decrease from HK$803,000 in 2019, indicating a reduction of 53.1%[37]. - The Group's effective tax rate for the period was calculated at 16.5%, consistent with the previous year[38]. - For the three months ended September 30, 2020, the profit attributable to owners of the Company was HK$718,000, an increase of 27.6% compared to HK$563,000 for the same period in 2019[49]. - The basic and diluted earnings per share for the period were both HK$0.00133, unchanged from the previous year[49]. - The total comprehensive income for the period was HK$2,023,000, compared to HK$280,000 in the same period of 2019, reflecting a significant increase[53]. Revenue Sources - For the three months ended September 30, 2020, the Group's revenue from Environmental and Cleaning services was HK$82,867,000, a slight increase from HK$82,345,000 in the same period of 2019, representing a growth of 0.6%[26]. - Environmental and cleaning services in Hong Kong generated revenue of approximately HK$75.1 million for the three months ended September 30, 2020, compared to approximately HK$75.4 million for the same period in 2019[75]. - The Shanghai Operations recorded an increase in revenue by approximately HK$0.8 million to approximately HK$7.8 million for the three months ended September 30, 2020, compared to approximately HK$7.0 million in 2019[81]. Expenses and Costs - Staff costs, including directors' emoluments, totaled HK$46,728,000 for the three months ended September 30, 2020, compared to HK$45,522,000 in 2019, reflecting an increase of 2.6%[34]. - The Group's finance costs increased slightly to HK$366,000 from HK$343,000 in the same period of 2019[9]. - Selling, marketing, and administrative expenses decreased by approximately HK$0.8 million to approximately HK$6.4 million for the three months ended September 30, 2020, due to stringent cost control measures[104]. - The Group aims to offset increased labor costs in the environmental and cleaning services sector by transferring costs to customers and improving operational efficiency[90]. Impairment and Financial Challenges - The impairment loss on loans and interest receivables was HK$9,106,000, which is a significant increase from HK$2,700,000 in the previous year, marking a rise of 337.6%[27]. - The Group recognized an impairment loss of approximately HK$9.0 million on past due loans and interest receivables for the three months ended September 30, 2020, compared to approximately HK$2.7 million in 2019[82]. - The Group's money lending business has faced challenges due to prolonged Sino-US trade tensions and the impact of COVID-19, leading to financial difficulties for some borrowers[82]. - The Group is actively taking legal actions against borrowers who have defaulted on loan repayments to recover loan principals and related costs[82]. Government Support - The Group received government grants amounting to HK$9,705,000 under the Employment Support Scheme, aimed at retaining employees during the subsidy period[27]. - The Group received a one-off subsidy of approximately HK$9.5 million under the Employment Support Scheme for part of the monthly salaries of employees in the environmental and cleaning services for July and August 2020[76]. Corporate Governance and Shareholder Information - The company has complied with the Corporate Governance Code and GEM Listing Rules for the three months ended September 30, 2020, with some deviations noted[138]. - The audit committee consists of three independent non-executive Directors, ensuring oversight of financial practices and internal controls[141]. - The audit committee reviewed the unaudited condensed consolidated results for the three months ended September 30, 2020, confirming compliance with applicable accounting standards[142]. - The company maintains high standards of corporate governance to safeguard shareholder interests[137]. - As of September 30, 2020, Mr. Yu Shaoheng holds 350,536,631 shares, representing 64.91% of the total issued share capital of the company[120]. - Mr. Yu Weiye and Ms. Mui Fong each hold 54,431,400 shares, accounting for 10.08% of the total issued share capital[125]. Future Plans and Strategies - The group is focusing on strengthening its risk management policy and streamlining its loan portfolio to reduce exposure to high-risk loans amid economic downturn threats in Hong Kong and the PRC[97]. - The group plans to enhance its marketing efforts to expand market shares in the commercial and residential sectors, aiming to improve revenue per customer through cross-selling services[92]. - The Shanghai Operations are expanding as expected, implementing the same quality control and training programs as in Hong Kong, with refined marketing strategies to attract new customers[93]. - The group is exploring new environmental and cleaning services to expand its service scope, positioning itself as a one-stop cleaning contractor for customers[92].
宝联控股(08201) - 2020 - 年度财报
2020-09-28 12:19
Financial Performance - The Group recorded a net loss of approximately HK$36.7 million for the year ended June 30, 2020, compared to a net profit of approximately HK$18.5 million for the previous year[16]. - The financial results indicate a challenging market environment for small and mid-sized companies listed on GEM[2]. - For the year ended June 30, 2020, the Group reported total revenue of approximately HK$345.4 million, representing an increase of approximately 9.3% compared to HK$316.1 million in 2019[73]. - The Group's net profit from the money lending business was approximately HK$7.6 million for the year ended June 30, 2020, down from approximately HK$11.0 million in 2019[63]. - The Group's performance was significantly affected by the persistent social unrest in Hong Kong and the global spread of COVID-19[17]. Revenue Breakdown - Revenue from environmental and cleaning services in Hong Kong increased by approximately HK$39.0 million to approximately HK$300.6 million for the year ended 30 June 2020, compared to HK$261.6 million for the previous year[40]. - The commercial sector contributed HK$125.7 million (41.8% of total revenue) in 2020, up from HK$105.3 million (40.3%) in 2019, while the residential sector increased to HK$77.3 million (25.7%) from HK$57.2 million (21.8%)[43]. - Revenue from the hospitality sector declined significantly due to COVID-19 and social unrest, with expectations of further decline in the coming fiscal year[47]. - The transportation sector saw an increase in revenue due to new service contracts, although airline-related revenue is expected to decline significantly due to COVID-19 impacts[48]. Challenges and Risks - The environmental and cleaning business faced challenges due to intense competition, a 9% increase in the Statutory Minimum Wage, and a decline in service volume from customers affected by social unrest and the COVID-19 pandemic[17]. - The implementation of the Statutory Minimum Wage has led to a tighter labor supply, impacting operational costs[17]. - The Group recognized an impairment loss of approximately HK$37.0 million on past due loans and interest receivables due to borrowers' financial difficulties[23]. - The Group is exposed to litigation claims, including employee compensation claims, which may not be fully covered by insurance, potentially leading to significant financial impacts[181]. - Adverse changes in macroeconomic conditions, such as GDP fluctuations and property prices, may impact market demand and customer repayment abilities, affecting the Group's revenue and liquidity[188]. Strategic Initiatives - The Group's management is committed to navigating through the difficult market conditions and exploring new strategies for recovery[16]. - The Group will pursue opportunities and growth in a cautious manner with a high standard of risk and credit management[28]. - The Group plans to enhance service quality by providing training to frontline staff and implementing efficient workflows to offset increased labor costs[65]. - The Group's proactive approach aims to gain additional market share in both commercial and residential sectors[21]. Financial Management - The Group implemented stringent cost control procedures and simplified its corporate structure, leading to a reduction in various operational expenses[84]. - The Group's financial risk management objectives and policies are detailed in the consolidated financial statements, ensuring proactive management of financial risks[183]. - The Group is focusing on strengthening its risk management policy and streamlining its loan portfolio to reduce exposure to high-risk loans[72]. Employee and Operational Insights - As of June 30, 2020, the Group had 1,240 employees, an increase of approximately 15.1% from 1,077 employees in 2019[126]. - Total staff costs and related expenses for the year ended June 30, 2020, increased by approximately 12.8% compared to the previous year, primarily due to the increase in the average number of staff in the environmental and cleaning business[126]. - High turnover rates in the operational team may adversely affect service quality and financial results due to difficulties in recruiting and retaining sufficient workforce[181]. Corporate Governance and Compliance - The Group's operations are compliant with relevant laws and regulations, including GEM Listing Rules and Employment Ordinance, ensuring high corporate governance standards[191]. - The Group has established internal reporting procedures to ensure compliance with relevant laws and regulations, mitigating risks of penalties or license revocation[188]. Environmental Commitment - The Group is committed to environmentally-friendly practices, including energy efficiency and recycling initiatives, and has received certifications from various organizations[189]. - The Group has adopted environmentally-friendly service procedures in its cleaning services, contributing to its sustainability goals[189].
宝联控股(08201) - 2020 Q3 - 季度财报
2020-05-15 09:33
Financial Performance - For the nine months ended March 31, 2020, the Group reported revenue of HK$265,297,000, an increase of 15% compared to HK$230,597,000 for the same period in 2019[10]. - The gross profit for the nine months ended March 31, 2020, was HK$28,989,000, a decrease of 27% from HK$39,805,000 in the previous year[10]. - The Group incurred a loss before taxation of HK$14,449,000 for the nine months ended March 31, 2020, compared to a profit of HK$18,308,000 for the same period in 2019[10]. - The loss for the period attributable to owners of the Company was HK$17,362,000 for the nine months ended March 31, 2020, compared to a profit of HK$14,313,000 in the previous year[11]. - The basic and diluted loss per share for the nine months ended March 31, 2020, was HK(3.22) cents, compared to earnings of HK(2.69) cents for the same period in 2019[11]. - The total comprehensive loss for the period was HK$17,006,000 for the nine months ended March 31, 2020, compared to a comprehensive income of HK$15,016,000 in the previous year[11]. - The Group's administrative expenses for the nine months ended March 31, 2020, were HK$16,381,000, slightly decreased from HK$16,731,000 in the previous year[10]. - The impairment loss on loan receivables was HK$24,340,000 for the nine months ended March 31, 2020, with no impairment recorded in the previous year[10]. - The Group's selling and marketing expenses decreased to HK$2,027,000 for the nine months ended March 31, 2020, from HK$3,248,000 in the previous year[10]. - The total comprehensive loss for the period ended March 31, 2020, was HK$17,691,000, which includes exchange differences on translation of financial statements of foreign operations[89]. Revenue Segments - The Group's revenue is derived from two main segments: Environmental and Cleaning services, and Money Lending services in Hong Kong and the PRC[59]. - Service income from Environmental and Cleaning services increased to HK$252,486,000 for the nine months ended March 31, 2020, up from HK$213,337,000 in the same period of 2019, representing a growth of 18.3%[61]. - Interest income from Money Lending decreased to HK$12,811,000 for the nine months ended March 31, 2020, down from HK$17,260,000 in the same period of 2019, a decline of 25.5%[63]. - Revenue from environmental and cleaning services in Hong Kong increased by approximately HK$41.1 million to approximately HK$231.5 million for the nine months ended 31 March 2020, compared to approximately HK$190.4 million for the same period in 2019[101]. - Revenue from Shanghai operations decreased by approximately HK$2.8 million to approximately HK$20.1 million for the nine months ended 31 March 2020 due to the loss of several small service contracts[103]. Expenses and Costs - Finance costs for the nine months ended March 31, 2020, totaled HK$1,100,000, a decrease from HK$1,674,000 in the same period of 2019, representing a reduction of 34.2%[65]. - Staff costs, including Directors' emoluments, increased to HK$139,033,000 for the nine months ended March 31, 2020, compared to HK$116,655,000 in the same period of 2019, an increase of 19.1%[67]. - Income tax expenses for the nine months ended March 31, 2020, were HK$2,228,000, down from HK$3,219,000 in the same period of 2019, a decrease of 30.8%[70]. - The Group's selling, marketing, and administrative expenses decreased by approximately HK$1.6 million to approximately HK$18.4 million, attributed to stringent cost control measures[128]. - Finance costs decreased by approximately HK$0.6 million to approximately HK$1.1 million, mainly due to a reduction in interest expense on convertible bonds[132]. Dividends and Shareholder Equity - The company did not recommend any dividend for the nine months ended March 31, 2020, consistent with the previous year where no dividend was declared[75]. - As of March 31, 2020, the accumulated losses of the company amounted to HK$27,862,000, compared to HK$10,500,000 as of July 1, 2019[89]. - The company's equity attributable to owners decreased to HK$197,628,000 as of March 31, 2020, from HK$215,319,000 as of July 1, 2019[89]. - The company’s board of directors has not recommended any dividend payments for the nine months ended March 31, 2020, maintaining a zero dividend policy from the previous year[79]. Accounting Policies and Standards - The unaudited condensed consolidated results have not been audited but have been reviewed by the company's audit committee[20]. - The Group has not applied new and revised HKFRSs that are not yet effective, and is assessing their potential impact on financial results[19]. - The adoption of HKFRS 16 has introduced a single on-balance sheet accounting model for lessees, recognizing right-of-use assets and lease liabilities[24]. - The Group's accounting policies remain consistent with those adopted in the previous financial year, except for changes related to HKFRS 16[21]. - The Group is currently evaluating the impact of new accounting standards but has not identified any significant financial effects from the changes, except for HKFRS 16[23]. Business Strategy and Operations - The Company continues to focus on its principal activities, including environmental cleaning services and money lending services in Hong Kong and the PRC[14]. - The Group's main business activities include investment holding and providing environmental cleaning and lending services[17]. - The Group aims to enhance its marketing strategy in Shanghai to attract more new customers for its cleaning services[124]. - The company plans to strengthen marketing efforts to expand market share in the commercial and residential sectors, aiming to mitigate the downturn effects from the transportation and hotel sectors[119]. - The Group is implementing more efficient workflows and stringent cost control procedures to offset increased labor costs in Hong Kong's environmental services industry[115]. Corporate Governance - The Company has complied with the Corporate Governance Code and GEM Listing Rules for the nine months ended March 31, 2020, with some deviations noted[180]. - The roles of chairman and chief executive officer are held by Mr. Yu Shaoheng, which is a deviation from the Code provision A.2.1[181]. - The audit committee consists of three independent non-executive Directors, ensuring oversight of financial reporting[182]. - The Company has adopted a code of conduct regarding securities transactions by Directors, with no reported non-compliance during the reporting period[172]. - There are no competing interests from Directors or controlling shareholders that could affect the Company's business[173].
宝联控股(08201) - 2020 - 中期财报
2020-02-14 09:06
Financial Performance - For the six months ended December 31, 2019, the company's revenue was HK$179,506,000, representing an increase of 15.6% compared to HK$155,331,000 for the same period in 2018[14]. - The gross profit for the same period was HK$21,314,000, a decrease of 23% from HK$27,662,000 in the prior year[14]. - The company reported a loss before taxation of HK$650,000, compared to a profit of HK$12,895,000 in the previous year[14]. - The loss for the period was HK$2,433,000, contrasting with a profit of HK$10,148,000 for the same period in 2018[14]. - Total comprehensive loss for the period was HK$2,573,000, a significant decline from a comprehensive income of HK$9,879,000 in the previous year, indicating a shift of 126.0%[16]. - Basic and diluted loss per share was HK$0.53, compared to earnings per share of HK$1.91 in the prior year, reflecting a decrease of 127.8%[16]. - The company reported a loss attributable to owners of the Company of HK$2,858,000, compared to a profit of HK$10,083,000 for the same period in 2018, representing a decrease of 128.4%[16]. Expenses and Costs - Administrative expenses were HK$11,269,000, slightly down from HK$11,530,000 in the previous year[14]. - Finance costs decreased to HK$724,000 from HK$1,466,000, indicating a reduction of 50.7%[14]. - Selling and marketing expenses were reduced to HK$1,266,000 from HK$1,883,000, a decrease of 32.7%[14]. - The company experienced a significant impairment loss of HK$8,705,000, compared to a gain of HK$112,000 in the previous year[14]. - The total cost of services increased to HK$158,192,000 from HK$127,669,000, reflecting a rise of 23.9%[14]. - Staff costs including directors' emoluments amounted to HK$91,194,000, an increase of 18.2% compared to HK$77,150,000 for the same period in 2018[100]. - The depreciation of property, plant, and equipment for the six months ended December 31, 2019, was HK$1,571,000, which is a 113.4% increase from HK$736,000 in the previous year[100]. - The cost of consumable goods for the six months ended December 31, 2019, was HK$2,767,000, representing a 41.1% increase from HK$1,961,000 in the same period of 2018[100]. Cash Flow and Assets - For the six months ended December 31, 2019, net cash generated from operating activities was HK$11,019,000, compared to a net cash used of HK$40,143,000 in the same period of 2018[30]. - Net cash used in investing activities amounted to HK$24,313,000 for the six months ended December 31, 2019, significantly higher than HK$3,091,000 in the previous year[30]. - The company reported a decrease in cash and cash equivalents to HK$37,957,000 from HK$53,809,000, a reduction of 29.5%[19]. - The company's net current assets decreased to HK$144,611,000 from HK$194,222,000, a decline of 25.6%[19]. - The company reported a net decrease in cash and cash equivalents of HK$15,709,000 for the six months ended December 31, 2019, compared to HK$46,682,000 in the same period of 2018[30]. - The company had a total equity of HK$207,036,000 as of December 31, 2018, reflecting changes in equity during the year[26]. - The company issued shares pursuant to a rights issue, raising HK$48,600,000 during the period[26]. Segment Performance - For the six months ended December 31, 2019, the Group reported service income from Environmental and Cleaning of HK$169,414,000, an increase from HK$144,057,000 in the same period of 2018, representing a growth of approximately 17.5%[86]. - Interest income from Money Lending for the six months ended December 31, 2019, was HK$10,092,000, a decrease from HK$11,274,000 in the same period of 2018, reflecting a decline of approximately 10.5%[86]. - Reportable segment revenue from external customers reached HK$179,506,000, with HK$169,414,000 from environmental and cleaning and HK$10,092,000 from money lending[89]. - Reportable segment profit was HK$2,334,000, comprising a profit of HK$5,907,000 from environmental and cleaning and a loss of HK$3,573,000 from money lending[89]. - The Group's operating segments include Environmental and Cleaning, Money Lending, and Investments, each requiring different business strategies[78][79]. Lease and Accounting Standards - The Group adopted HKFRS 16, which introduces a single on-balance sheet accounting model for lessees, effective from July 1, 2019[44]. - Under HKFRS 16, the Group recognizes right-of-use assets and lease liabilities for leases, impacting the financial statements significantly compared to previous standards[43]. - The Group recognized lease liabilities of approximately HK$2,279,000 and right-of-use assets of approximately HK$2,250,000 as of December 31, 2019, following the adoption of HKFRS 16[73][75]. - The right-of-use asset is initially measured at cost and subsequently adjusted for accumulated depreciation and impairment losses[54]. - The Group's assessment of lease terms, including renewal options, significantly affects the amount of lease liabilities and right-of-use assets recognized[60]. Share Capital and Dividends - The Group's share capital as of 31 December 2019 was HK$5,400,000, with 540,000,000 ordinary shares issued and fully paid[157]. - No dividends were recommended for the six months ended December 31, 2019, consistent with the previous year where no dividends were paid[107]. - The weighted average number of ordinary shares for the purpose of basic and diluted (loss)/earnings per share was 540,000,000 for the six months ended December 31, 2019[112]. Trade Receivables and Loans - Trade receivables increased to HK$67,632,000 as of December 31, 2019, up from HK$57,364,000 as of June 30, 2019, marking an increase of 17.6%[19]. - The carrying value of current (not past due) loans was HK$79,702,000, while overdue loans less than one month past due totaled HK$9,000[140]. - Impairment allowances for loans were recorded at HK$8,880,000, resulting in a net carrying value of HK$107,600,000[140]. - The Group's management closely reviews trade receivable balances and overdue amounts on an ongoing basis to assess collectability[127]. Operational Challenges - The implementation of the Statutory Minimum Wage (SMW) in Hong Kong was adjusted upward by 8% in May 2019, contributing to increased operational challenges[196]. - The Group's environmental services include a wide range of offerings such as public area cleaning, waste management, and pest control services[190].
宝联控股(08201) - 2020 Q1 - 季度财报
2019-11-14 08:52
Financial Performance - The Group reported unaudited revenue of HK$88,087,000 for the three months ended 30 September 2019, representing an increase of 13.4% compared to HK$77,271,000 in the same period of 2018[10]. - Gross profit for the period was HK$11,768,000, a decrease of 20.0% from HK$14,713,000 year-on-year[10]. - Profit before taxation decreased to HK$1,553,000, down 76.4% from HK$6,560,000 in the previous year[10]. - Profit for the period was HK$750,000, a significant decline of 85.3% compared to HK$5,100,000 in the same quarter of 2018[10]. - Total comprehensive income for the period attributable to owners of the Company was HK$280,000, down from HK$4,790,000 in the same period last year[12]. - Basic and diluted earnings per share decreased to HK$0.10 from HK$0.98 year-on-year[12]. - The Group's other income for the three months ended September 30, 2019, was HK$26,000, down from HK$78,000 in 2018[63]. - An impairment allowance for a loan receivable of HK$2,700,000 was recognized during the period, indicating a significant impact on the financial results[63]. - For the three months ended September 30, 2019, the profit attributable to owners of the Company was HK$563,000, a decrease of 88.9% compared to HK$5,057,000 for the same period in 2018[77]. - The income tax expense for the period was HK$803,000, down 45.0% from HK$1,460,000 in the prior year[70]. Revenue Sources - For the three months ended September 30, 2019, service income from Environmental and Cleaning was HK$82,345,000, an increase from HK$71,609,000 in the same period of 2018, representing a growth of approximately 14.3%[62]. - Interest income from Money Lending for the same period was HK$5,742,000, slightly up from HK$5,662,000 in 2018, indicating a growth of about 1.4%[62]. - Revenue from environmental and cleaning services in Hong Kong increased by approximately HK$11.2 million to approximately HK$75.4 million for the three months ended September 30, 2019, up from approximately HK$64.2 million in the same period of 2018[119]. - Revenue from Shanghai operations decreased by approximately HK$0.4 million to approximately HK$7.0 million for the three months ended September 30, 2019[99]. Expenses and Costs - The Group's administrative expenses increased slightly to HK$6,569,000 from HK$6,324,000 in the previous year[10]. - Finance costs significantly decreased to HK$343,000 from HK$1,306,000, indicating improved cost management[10]. - Total staff costs, including directors' emoluments, increased to HK$45,522,000, up 16.9% from HK$39,048,000 in the previous year[67]. - The depreciation of property, plant, and equipment rose to HK$752,000, an increase of 105.5% from HK$366,000 in the same period last year[67]. - The Group's financing costs decreased by approximately HK$1,000,000 to about HK$300,000 for the three months ended September 30, 2019, compared to HK$1,300,000 in 2018[125]. Accounting Standards and Financial Reporting - The Group continues to assess the impact of new and revised HKFRSs on its financial position, which may affect future results[19]. - The Group has adopted HKFRS 16, which introduces a single on-balance sheet accounting model for lessees, replacing HKAS 17[24]. - The adoption of HKFRS 16 does not have any significant financial effect on the Group's results, except for the impact of HKFRS 16 itself[23]. - The Group assesses whether a contract is a lease based on the new definition under HKFRS 16, which focuses on the right to control the use of an identified asset[25]. - The lease liability is subsequently adjusted for interest costs and lease payments made, and remeasured for changes in future lease payments[39]. Corporate Governance - The company has adopted a code of conduct for securities transactions by directors, with no reported noncompliance during the reporting period[161]. - The company emphasizes maintaining high standards of corporate governance to safeguard shareholder interests[168]. - The audit committee believes that adequate disclosures have been made regarding the unaudited condensed consolidated results for the three months ended September 30, 2019[175]. - The company has complied with the Corporate Governance Code and GEM Listing Rules for the three months ended September 30, 2019, with some deviations noted[169]. - The roles of chairman and chief executive officer are performed by the same individual, Mr. Yu Shaoheng, which deviates from Code provision A.2.1[171]. Shareholder Information - The company did not recommend any dividend for the three months ended September 30, 2019, consistent with the previous year[74]. - The weighted average number of ordinary shares for the purpose of basic and diluted earnings per share increased to 540,000,000 shares, up from 518,548,000 shares in the previous year[77]. - As of September 30, 2019, Mr. Yu Shaoheng held 350,536,631 shares, representing 64.91% of the total issued share capital[151]. - Mr. Yu Weiye and Ms. Mui Fong each held 54,431,400 shares, accounting for 10.08% of the total issued share capital[156]. - The company has not identified any competitive interests from its directors or major shareholders during the reporting period[166].
宝联控股(08201) - 2019 - 年度财报
2019-09-26 08:51
Financial Performance - The Group recorded a net profit of approximately HK$18.5 million for the year ended June 30, 2019, compared to a net loss of approximately HK$8.3 million for the previous year[16]. - For the year ended 30 June 2019, the total revenue was HK$261.6 million, a decrease from HK$272.9 million in the previous year, representing a decline of approximately 4.8%[49]. - The environmental and cleaning business in Hong Kong recorded a net profit of HK$11.2 million, down from HK$12.2 million in the previous year, reflecting a decrease of about 8.2%[49]. - The Group reported total revenue of approximately HK$316.1 million for the year ended June 30, 2019, a decrease of approximately 1.2% from HK$319.9 million in 2018[74]. - Revenue from environmental and cleaning services in Hong Kong decreased by approximately HK$11.3 million to approximately HK$261.6 million due to the expiry of several service contracts[74]. Revenue Breakdown - Revenue from the commercial sector decreased to HK$105.3 million (40.3% of total revenue) from HK$128.0 million (46.9% of total revenue), primarily due to the expiry of several service contracts[49]. - The residential sector revenue increased to HK$57.2 million (21.8% of total revenue) from HK$51.2 million (18.8% of total revenue), attributed to new service contracts secured during the year[49][45]. - The hospitality sector revenue rose to HK$30.2 million (11.5% of total revenue) from HK$25.9 million (9.5% of total revenue), also due to additional service contracts[49][45]. - The transportation sector revenue slightly decreased to HK$50.7 million (19.4% of total revenue) from HK$51.2 million (18.7% of total revenue) due to a reduction in service scope[49][47]. Labor and Cost Management - The Statutory Minimum Wage in Hong Kong was adjusted upward by 8% on May 1, 2019, significantly affecting the profit margin of the environmental and cleaning services[17]. - The Group is striving to transfer most of the increased labor costs to customers and implement more efficient workflows and stringent cost control procedures[21]. - The Group is closely monitoring the labor turnover rate and regularly reviewing its remuneration package to maintain a sufficient labor force[21]. - Total staff costs and related expenses for the year ended June 30, 2019, decreased by approximately 9% compared to the previous year, primarily due to a reduction in the average number of staff[112]. - The Group has experienced a high turnover rate in its operation team, which could negatively impact service quality and financial results due to difficulties in recruiting and retaining sufficient workforce[31]. Strategic Initiatives - The Group plans to expand its service scope to become a one-stop cleaning contractor by cross-selling additional services and focusing on high-value customers[21]. - The Group plans to expand its service offerings by cross-selling additional cleaning and waste management services to existing clients, aiming to position itself as a one-stop cleaning contractor[25]. - The Group will adopt a cautious approach to pursue growth opportunities while maintaining high standards of risk and credit management due to the uncertain economic outlook[29]. - The Group has adopted strategies to enhance market share, negotiate better contract terms, and implement stringent cost control measures to address challenging market conditions[50]. Financial Position and Debt Management - As of June 30, 2019, the Group's total debt was approximately HK$9.7 million, a significant decrease from approximately HK$59.1 million in 2018, leading to a gearing ratio of approximately 4.5% compared to 39.3% in the previous year[105]. - The Group's cash and cash equivalents were approximately HK$53.8 million, representing a decrease of 54.2% from HK$117.5 million in 2018[103]. - The Group's loans receivables amounted to approximately HK$122,480,000, which includes a loan of approximately HK$29,000,000 exceeding 8% of the asset ratio as defined under GEM Listing Rules[81]. - The Group's stringent credit policies will ensure careful assessment and control of the existing loans portfolio and new loans granted[29]. Operational Challenges - The majority of service contracts have fixed terms ranging from one to three years, with no assurance of new contracts or renewal of existing ones, which may negatively impact financial results[177]. - The Group's operations are significantly affected by the competitive tendering process, potentially leading to pressure on profit margins if service charges are lowered[177]. - Most service contracts are fixed-price, meaning the Group cannot adjust service fees or recover cost overruns, which may adversely affect financial conditions and profitability[177]. - Adverse changes in macroeconomic conditions and market variables may affect market demands and customer repayment abilities, potentially leading to a negative impact on the Group's revenue and liquidity[195]. Compliance and Risk Management - The Group has adopted relevant operation policies to ensure compliance with laws and regulations, which is crucial for maintaining its money lending license and avoiding penalties[195]. - The Group is exposed to litigation claims, including employee compensation claims, which may adversely affect its financial conditions and results of operations[31]. - The Group has taken out insurance policies to cover potential claims, but the outcome of any claim may still be unfavorable, leading to uninsured financial losses[31]. - The Group's financial risk management objectives and policies are detailed in the consolidated financial statements[190]. Corporate Social Responsibility - The Group is committed to minimizing its environmental impact by raising energy efficiency and encouraging recycling practices in its daily operations[196]. - Charitable and other donations made by the Group during the year amounted to approximately HK$15,000[199]. - The Group is committed to providing a caring, safe, and healthy working environment for employees, emphasizing labor diversity and equal opportunities[185]. - Professional training and self-development sponsorships are provided to employees to support their continuous development[185]. Future Outlook - The Shanghai Operations are expected to become a major source of income and profit for the Group in the coming financial years due to enhanced brand recognition and improved operating procedures[23]. - The Group's Shanghai operations contributed approximately HK$30.8 million in revenue, up from HK$26.1 million in the previous year, with a net profit of approximately HK$1.6 million compared to HK$1.3 million[51][55]. - The Group's strategic focus includes expanding its environmental and cleaning services in the PRC market[166].
宝联控股(08201) - 2019 Q3 - 季度财报
2019-05-14 09:18
Financial Performance - Revenue for the nine months ended March 31, 2019, was HK$230,597,000, a decrease of 3.4% compared to HK$237,625,000 for the same period in 2018[10] - Gross profit for the nine months ended March 31, 2019, increased to HK$39,805,000, representing a gross margin of 17.3% compared to 15.2% in 2018[10] - Profit before taxation for the nine months ended March 31, 2019, was HK$18,308,000, compared to a loss of HK$6,436,000 in the same period of 2018[10] - Profit for the period attributable to owners of the Company for the nine months ended March 31, 2019, was HK$14,313,000, compared to a loss of HK$10,672,000 in 2018[12] - Basic and diluted earnings per share for the nine months ended March 31, 2019, was 2.69 HK cents, compared to a loss of 3.64 HK cents in 2018[12] - Total comprehensive income for the period attributable to owners of the Company was HK$14,240,000 for the nine months ended March 31, 2019, compared to a loss of HK$9,411,000 in 2018[12] - Total turnover for the Group for the nine months ended March 31, 2019, was HK$230,597,000, a decrease of 3% from HK$237,625,000 in the same period of 2018[77] - For the nine months ended March 31, 2019, the profit attributable to owners of the Company was HK$14,313,000, compared to a loss of HK$10,672,000 for the same period in 2018[97] - For the three months ended March 31, 2019, the profit attributable to owners of the Company was HK$4,230,000, compared to a loss of HK$2,172,000 for the same period in 2018[97] Expenses and Costs - Selling and marketing expenses increased to HK$3,248,000 for the nine months ended March 31, 2019, compared to HK$1,832,000 in 2018[10] - Administrative expenses decreased significantly to HK$16,731,000 for the nine months ended March 31, 2019, from HK$36,321,000 in 2018[10] - Finance costs decreased to HK$1,674,000 for the nine months ended March 31, 2019, compared to HK$4,692,000 in 2018[10] - Total staff costs, including directors' emoluments, for the nine months ended March 31, 2019, were HK$116,655,000, down from HK$132,722,000 in 2018, representing a decrease of approximately 12%[83] - The minimum lease payments under operating leases for the nine months ended March 31, 2019, were HK$3,081,000, compared to HK$5,254,000 in 2018, indicating a reduction of about 41%[83] - Current tax expenses for the nine months ended March 31, 2019, amounted to HK$3,287,000, compared to HK$3,740,000 in 2018, reflecting a decrease of approximately 12%[86] - Selling, marketing, and administrative expenses decreased by approximately HK$18.2 million to approximately HK$20.0 million for the nine months ended March 31, 2019[146] - Finance costs decreased by approximately HK$3.0 million to approximately HK$1.7 million, primarily due to a reduction in effective interest expense on convertible bonds[146] Revenue Streams - Revenue from Environmental and Cleaning services for the nine months ended March 31, 2019, was HK$213,337,000, a decrease of 5% from HK$224,591,000 in the same period of 2018[77] - Interest income from Money Lending for the nine months ended March 31, 2019, was HK$17,260,000, an increase of 32% from HK$13,034,000 in the same period of 2018[77] - Revenue from environmental and cleaning services in Hong Kong decreased by approximately HK$13.8 million to approximately HK$190.4 million for the nine months ended 31 March 2019, compared to HK$204.2 million for the same period in 2018[118] - The net profit from the environmental and cleaning business in Hong Kong was approximately HK$9.8 million for the nine months ended 31 March 2019, an increase from approximately HK$9.1 million for the same period in 2018[119] - Revenue from environmental and cleaning services in Shanghai increased to approximately HK$22.9 million for the nine months ended 31 March 2019, up from HK$18.9 million for the same period in 2018[120] - Interest income from the money lending business was approximately HK$17.3 million for the nine months ended 31 March 2019, compared to approximately HK$13.0 million for the same period in 2018[126] - Operating profit from the money lending business decreased to approximately HK$7.7 million for the nine months ended 31 March 2019, down from approximately HK$9.3 million for the same period in 2018[126] Accounting Policies and Standards - The Group has adopted HKFRS 9 Financial Instruments and HKFRS 15 Revenue from Contracts with Customers, which are material and relevant to the Group's unaudited condensed consolidated financial statements from July 1, 2018[23] - The Group's revenue recognition policy under HKFRS 15 does not significantly impact the timing of revenue recognition from the provision of services[64] - The Group has not experienced any impact from the adoption of HKFRS 15 regarding significant financing components in contracts[68] - The principal accounting policies used in the third quarterly results are consistent with those adopted in the preparation of the Group's annual financial statements for the year ended June 30, 2018[18] - The Group expects to reflect changes in accounting policies in the annual financial statements for the year ended June 30, 2019[18] Share Capital and Rights Issue - The company completed a rights issue on July 9, 2018, issuing 270,000,000 ordinary shares at a subscription price of HK$0.18 per share, increasing total shares from 270,000,000 to 540,000,000[98] - The rights issue raised approximately HK$46.7 million after expenses by issuing 270,000,000 rights shares[159] - Approximately HK$37,700,000 from the rights issue will be utilized for the company's existing businesses, particularly the money lending business[160] - The total number of shares issued after the rights issue was 540,000,000, reflecting a significant increase in share capital[98] - The transaction costs for the rights issue amounted to HK$1,876,000[104] Corporate Governance - The Board believes that the Company has complied with the Corporate Governance Code and GEM Listing Rules, with some deviations noted[196] - The roles of chairman and chief executive officer are not separated, with Mr. Yu Shaoheng serving as both[198] - The audit committee consists of three independent non-executive Directors, reviewing financial and accounting policies[199] - The audit committee opines that the unaudited condensed consolidated results for the nine months ended March 31, 2019, comply with applicable accounting standards[200]
宝联控股(08201) - 2019 - 中期财报
2019-02-14 09:11
Financial Performance - For the six months ended December 31, 2018, the company reported revenue of HK$155,331,000, a slight increase of 1.2% compared to HK$153,412,000 in the same period of 2017[16]. - Gross profit for the same period was HK$27,662,000, representing a significant increase of 18.9% from HK$23,329,000 year-on-year[16]. - Profit before taxation improved to HK$12,895,000, compared to a loss of HK$5,848,000 in the previous year, indicating a turnaround in financial performance[16]. - The company achieved a profit for the period of HK$10,148,000, recovering from a loss of HK$8,466,000 in the same period last year[16]. - Total comprehensive income for the period was HK$9,879,000, compared to a loss of HK$7,833,000 in the prior year, indicating improved financial performance[18]. - Basic and diluted earnings per share for the six months ended December 31, 2018, was HK$0.10, compared to a loss of HK$0.029 in the same period of 2017[18]. - For the six months ended December 31, 2018, the profit attributable to owners of the Company was HK$10,083,000, compared to a loss of HK$8,500,000 in the same period of 2017, representing a significant turnaround[18]. - The Group's profit before taxation for the six months ended December 31, 2018, was HK$12,895,000, compared to a loss before taxation of HK$5,848,000 for the same period in 2017, indicating a significant turnaround[112]. Cost Management - Administrative expenses decreased significantly to HK$11,530,000 from HK$25,368,000, reflecting improved cost management strategies[16]. - Finance costs were reduced to HK$1,466,000, down from HK$2,833,000, contributing to the overall profitability[16]. - Profit before taxation for the six months ended December 31, 2018, was impacted by staff costs totaling HK$77,150,000, down from HK$87,640,000 in the same period of 2017, indicating a reduction of 12.5%[124]. - Total finance costs for the six months ended December 31, 2018, were HK$1,466,000, a decrease of 48.2% from HK$2,833,000 in the same period of 2017[121]. Revenue Sources - Revenue from Environmental and Cleaning services was HK$144,057,000 for the six months ended December 31, 2018, compared to HK$144,947,000 in the same period of 2017, indicating a decrease of about 0.6%[108]. - Interest income from Money Lending increased to HK$11,274,000 for the six months ended December 31, 2018, up from HK$8,465,000 in the same period of 2017, reflecting a growth of approximately 33.3%[108]. - The reportable segment profit for Environmental and Cleaning services was HK$9,941,000, while for Money Lending it was HK$5,870,000, leading to a total reportable segment profit of HK$15,811,000 for the six months ended December 31, 2018[112]. Asset Management - As of December 31, 2018, total assets less current liabilities amounted to HK$217,469,000, an increase from HK$160,606,000 as of June 30, 2018[21]. - Current assets decreased to HK$256,958,000 from HK$310,294,000 as of June 30, 2018, primarily due to a reduction in cash and cash equivalents[21]. - The Company reported net current assets of HK$206,621,000, an increase from HK$151,288,000 as of June 30, 2018, indicating improved liquidity[21]. - Total equity attributable to owners of the Company was HK$206,936,000 as of December 31, 2018, compared to HK$150,398,000 as of June 30, 2018, reflecting strong growth in shareholder value[22]. Cash Flow - For the six months ended December 31, 2018, the net cash used in operating activities was HK$40,143,000, compared to HK$21,610,000 for the same period in 2017, indicating an increase of 85.5% in cash outflow[32]. - The net cash used in investing activities was HK$3,091,000 for the six months ended December 31, 2018, compared to HK$740,000 in 2017, reflecting an increase of 318.4%[32]. - The net cash used in financing activities was HK$3,448,000, a significant decrease from the net cash generated of HK$48,952,000 in the same period of 2017[32]. - Cash and cash equivalents at the end of the period were HK$70,539,000, down from HK$80,167,000 at the end of December 2017, representing a decrease of 12.9%[32]. Accounting Standards - The Group has adopted all new and revised Hong Kong Financial Reporting Standards effective from July 1, 2018, including HKFRS 9 Financial Instruments and HKFRS 15 Revenue from Contracts with Customers, which are significant for the Group's unaudited condensed consolidated financial statements[47]. - The initial application of HKFRS 9 did not impact the classification and carrying amounts of the Group's financial assets as of July 1, 2018[54]. - The adoption of HKFRS 15 does not significantly impact the timing of revenue recognition from the provision of services[90]. - The Group has not experienced any impact from the changes in accounting policies under HKFRS 15 regarding revenue recognition and contract assets and liabilities[95]. Shareholder Information - The share capital increased to HK$5,400,000 as of December 31, 2018, from HK$2,700,000 as of June 30, 2018, due to a rights issue[22]. - The total number of shares increased from 270,000,000 to 540,000,000 following a rights issue completed on 9 July 2018[141]. - The company did not recommend any dividend payment for the six months ended 31 December 2018, consistent with the previous year[133]. Segment Information - The Group operates in three segments: Environmental and Cleaning, Money Lending, and Investments, with each segment requiring different business strategies[100]. - The Group's environmental and cleaning services are provided in Hong Kong, Shanghai, and Shenzhen, while the money lending business operates under the Money Lenders Ordinance in Hong Kong[101]. - As of December 31, 2018, total segment assets amounted to HK$248,406,000, an increase from HK$237,511,000 as of June 30, 2018, representing a growth of approximately 4.0%[116]. - Total liabilities for the segments were HK$60,770,000 as of December 31, 2018, compared to a negative liability of HK$169,179,000 as of June 30, 2018, indicating a significant change in financial position[116].