Financial Performance - Revenue for the nine months ended December 31, 2018, was HKD 98,988,000, an increase of 11% compared to HKD 89,224,000 for the same period in 2017[6] - Gross profit for the nine months ended December 31, 2018, was HKD 20,106,000, representing a 13.1% increase from HKD 17,768,000 in the previous year[6] - Profit before tax for the nine months ended December 31, 2018, was HKD 3,450,000, compared to HKD 1,154,000 for the same period in 2017, marking a significant increase[6] - The total comprehensive income for the nine months ended December 31, 2018, was HKD 3,000,000, up from HKD 654,000 in the previous year[6] - Basic earnings per share for the nine months ended December 31, 2018, was HKD 0.23, compared to HKD 0.05 for the same period in 2017, reflecting a substantial growth[6] - The net profit for the three months ended December 31, 2018, was HKD 545,000, a decrease of 68.6% from HKD 1,737,000 in the same period of 2017[29] Expenses and Costs - Administrative expenses increased to HKD 14,939,000 for the nine months ended December 31, 2018, from HKD 11,367,000 in the previous year, indicating a rise of 31%[6] - The company reported a financing cost of HKD 1,909,000 for the nine months ended December 31, 2018, compared to HKD 910,000 in the previous year, which is an increase of 109%[6] - The total employee costs for the nine months ended December 31, 2018, amounted to HKD 13,088,000, representing a 28.0% increase from HKD 10,227,000 in the previous year[24] - Service costs rose by approximately HKD 7,400,000 or 10.4% to HKD 78,900,000, primarily due to an increase in subcontracting costs[33] - Administrative expenses increased by approximately HKD 3,500,000 or 31.4% to HKD 14,900,000, mainly due to post-listing expenses and recruitment of additional staff[36] - Financing costs surged by approximately HKD 1,000,000 or 109.8% to HKD 1,900,000, attributed to increased bank borrowing levels[39] Revenue Sources - Revenue from construction management services for the three months ended December 31, 2018, was HKD 35,304,000, an increase of 10.5% compared to HKD 31,900,000 in the same period of 2017[23] - The company reported a total of HKD 2,700,000 in consulting service revenue for the nine months ended December 31, 2018, compared to no revenue in the same period of 2017[23] - Total revenue increased by approximately HKD 9,800,000 or 10.9% from HKD 89,200,000 for the nine months ended December 31, 2017, to HKD 99,000,000 for the nine months ended December 31, 2018[32] - Construction management service revenue rose by approximately HKD 7,100,000 or 7.9% to HKD 96,300,000, driven by increased income from projects in Tai Po and Southern District[32] Equity and Dividends - The company’s total equity as of December 31, 2018, was HKD 98,358,000, up from HKD 93,029,000 as of December 31, 2017[8] - The company did not recommend any dividend for the nine months ended December 31, 2018, consistent with the previous year[26] - No dividends were declared or proposed for the nine months ended December 31, 2018, and December 31, 2017[42] Business Environment and Strategy - The company anticipates a challenging business environment in 2019 due to the overall adjustment in the Hong Kong property market and stagnation in the recovery of the Macau gaming industry[31] - The company continues to focus on its core services: construction management, consulting, and maintenance services related to water circulation systems[31] - The company’s management team is committed to adapting its business strategies to navigate the challenging market conditions[31] Compliance and Governance - The company has established an audit committee in accordance with GEM Listing Rules, which reviewed the unaudited condensed consolidated results for the nine months ended December 31, 2018[64] - The company has maintained compliance with the corporate governance code, except for the separation of the roles of Chairman and CEO, which are held by the same individual[60] - The company has not identified any business or interests of its directors or controlling shareholders that may compete with the group's business as of December 31, 2018[62] Utilization of IPO Proceeds - The net proceeds from the IPO amounted to approximately HKD 38 million, with HKD 15.3 million utilized by December 31, 2018, leaving a balance of HKD 22.7 million[53] - As of December 31, 2018, HKD 19.4 million was allocated to strengthen the group's industry position and expand business, with only HKD 0.8 million utilized[54] - The company has allocated HKD 3.6 million to enhance its technology and project management capabilities, fully utilized by December 31, 2018[54] - The company has set up a Macau office/warehouse with an allocation of HKD 2.5 million, which remains unutilized[54] Other Information - The company has not engaged in any share options granted, exercised, expired, or lapsed under the share option scheme during the nine months ended December 31, 2018[51] - There were no purchases, sales, or redemptions of the company's listed securities by the company or any of its subsidiaries during the nine months ended December 31, 2018[56] - No significant events occurred after December 31, 2018, that would impact the group's operations and financial performance[43]