Financial Performance - The group recorded unaudited revenue of approximately HKD 14.9 million for the three months ended March 31, 2020, a significant decrease of approximately HKD 32.3 million or 68.4% compared to HKD 47.2 million for the same period in 2019[5] - The group reported an unaudited loss attributable to owners of the company of approximately HKD 5.2 million for the three months ended March 31, 2020, compared to an unaudited profit of approximately HKD 1.5 million for the same period in 2019[5] - The basic and diluted loss per share attributable to owners of the company was HKD 0.58 for the three months ended March 31, 2020, compared to a profit of HKD 0.17 for the same period in 2019[5] - The gross profit for the three months ended March 31, 2020, was HKD 1.68 million, down from HKD 10.55 million in the same period of 2019[7] - The total comprehensive loss for the period was HKD 5.26 million for the three months ended March 31, 2020, compared to a total comprehensive income of HKD 1.58 million for the same period in 2019[7] - The group's revenue for the three months ended March 31, 2020, was HKD 14,871,000, a decrease of 68.5% compared to HKD 47,196,000 for the same period in 2019[16] - The tourism segment generated revenue of HKD 13,423,000, down 69.5% from HKD 43,849,000 in the previous year[21] - The automotive segment reported revenue of HKD 1,448,000, a decline of 56.7% from HKD 3,347,000 in the same quarter of 2019[21] - The group recorded a total loss before tax of HKD 5,191,000 for the three months ended March 31, 2020, compared to a profit of HKD 1,822,000 in the same period of 2019[21] - Adjusted EBITDA loss for the group was HKD 2,799,000 for the current quarter, compared to a profit of HKD 3,389,000 in the previous year[21] Expenses and Costs - Administrative expenses increased to HKD 6.91 million for the three months ended March 31, 2020, compared to HKD 3.58 million for the same period in 2019[7] - Other income and gains decreased to HKD 62,000 for the three months ended March 31, 2020, from HKD 381,000 in the same period of 2019[7] - The cost of sales decreased by approximately 63.9%, from about HKD 36.6 million to about HKD 13.2 million for the same periods[37] - Gross profit for the three months ended March 31, 2020, was approximately HKD 1.7 million, a decrease of about 83.8% from approximately HKD 10.5 million for the same period in 2019[38] - Administrative expenses increased by approximately 97.1%, from about HKD 3.6 million to about HKD 6.9 million, primarily due to increased employee benefits, depreciation, and professional fees[40] Dividends and Shareholder Information - The board of directors decided not to recommend the payment of an interim dividend for the three months ended March 31, 2020[6] - The company did not declare or propose any dividends for the three months ended March 31, 2020, consistent with the same period in 2019[33] - As of March 31, 2020, Mr. Cai Weizhen holds 900,000,000 shares, representing 75.0% of the company's total shares[67] - Silver Esteem Limited, owned by Mr. Cai Weizhen, also holds 900,000,000 shares, accounting for 75.0% of the company's shares[69] - No stock options were granted, exercised, cancelled, or lapsed during the three months ended March 31, 2020[72] Corporate Governance and Audit - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and internal controls[75] - The group did not apply any new accounting standards that have been issued but are not yet effective as of March 31, 2020[15] - The group’s financial statements for the quarter were reviewed by the audit committee but not yet audited by external auditors[15] - The board believes that maintaining high standards of corporate governance is essential for transparency and accountability to shareholders[62] Future Plans and Market Strategy - The group plans to expand its fleet by purchasing additional vehicles and hiring more drivers to meet the growing demand for multi-purpose vehicle rental services in Macau[58] - The group aims to establish more partnerships with hotel operators and travel agents to secure mid-to-high-end hotel room guarantees, thereby increasing its market share[58] - The group intends to invest in digital marketing through social media and search engine advertising to enhance its online sales platform and increase product visibility[59] - The group will continue to explore new hotel operations to capitalize on market rebound opportunities once conditions improve[60] Cash and Capital Structure - As of March 31, 2020, the group's cash and cash equivalents were approximately HKD 6.4 million, a decrease of about 64.4% from approximately HKD 18.0 million as of March 31, 2019[49] - The group's bank deposits with original maturities over three months were approximately HKD 59.7 million as of March 31, 2020, compared to approximately HKD 4.5 million as of March 31, 2019, primarily pledged as collateral for bank financing[51] - The group's debt-to-asset ratio was approximately 3.0% as of March 31, 2020, down from approximately 14.9% as of March 31, 2019, due to the repayment of bank loans[52] - The group had capital commitments for the acquisition of properties, plants, and equipment amounting to approximately HKD 1.1 million as of March 31, 2020, compared to zero as of March 31, 2019[54] Market Impact - The group's business and financial performance were significantly adversely affected by the pandemic and travel restrictions imposed by the Macau government[60] - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the three months ended March 31, 2020[46] - The company did not hold any significant investments as of March 31, 2020[47] - The capital structure of the company has not undergone significant changes since the IPO[48] - There were no significant post-reporting date events or major developments affecting the group until the report date[74]

Financial Performance - The company reported total revenue of HKD 180,241,000 for the year ended December 31, 2019, an increase of 8.99% from HKD 165,662,000 in 2018[13] - The company incurred a loss before tax of HKD 921,000, compared to a profit of HKD 18,863,000 in the previous year[13] - The total comprehensive loss attributable to owners of the company was HKD 1,066,000, down from a profit of HKD 16,276,000 in 2018[13] - The group's revenue increased by approximately 8.8% from about HKD 165.7 million for the year ended December 31, 2018, to about HKD 180.2 million for the year ended December 31, 2019[18] - Gross profit for the year ended December 31, 2019, was approximately HKD 36.3 million, an increase of about 4.6% from approximately HKD 34.7 million in 2018, with gross margin remaining relatively stable at about 20.9% and 20.1% respectively[22] - The cost of sales rose by approximately 9.9%, from about HKD 131.0 million in 2018 to about HKD 143.9 million in 2019, primarily due to increased revenue from hotel room sales and distribution[19] - The group recorded a loss of approximately HKD 1.1 million for the year ended December 31, 2019, compared to a profit of about HKD 16.3 million in 2018, largely due to non-recurring listing expenses and increased administrative costs[26] Assets and Equity - Total assets increased to HKD 119,314,000 in 2019 from HKD 66,505,000 in 2018, representing a growth of 79.4%[14] - Total equity rose to HKD 98,242,000 in 2019, up from HKD 45,957,000 in 2018, marking an increase of 114%[14] Business Strategy and Expansion - The company aims to strengthen its existing business and provide stable returns and growth prospects for shareholders in the future[9] - The company plans to expand its services, including cross-border car rental services between Macau and Hong Kong starting December 2019[16] - The company aims to establish hotel room guarantee agreements with more hotel operators to increase the number of mid-to-high-end hotel rooms and expand its hotel base, thereby attracting business travelers and high-spending customers[56] - The company intends to open more service points and develop an online platform application to market its travel products and services to corporate and retail customers[57] - The company will invest in digital marketing through social media platforms and search engine advertising to enhance its online sales channels[57] Risks and Challenges - The overall revenue of the Macau tourism industry has slowed down due to economic uncertainties in China, Hong Kong, and the impact of social unrest[15] - The company acknowledges potential risks to its business and financial performance due to escalating trade tensions between China and the US, the outbreak of COVID-19, and social unrest in Hong Kong[58] - The group faces risks in executing its business strategy, including challenges in finding attractive hotel operators for partnerships and timing market entry effectively[30] Corporate Governance - The company has adopted the corporate governance code as outlined in the GEM listing rules, ensuring high levels of transparency and accountability[81] - The board consists of two executive directors and three independent non-executive directors, maintaining a balance of power[83] - The company has established three board committees: the Audit Committee, the Remuneration Committee, and the Nomination Committee, to oversee governance responsibilities[90] - The board is responsible for reviewing and monitoring compliance with legal and regulatory requirements, as well as corporate governance policies[85] - The company emphasizes the importance of ongoing professional development and training for its directors and senior management[85] Financial Management - The company aims to manage cash prudently to seize future growth opportunities[49] - The company has no significant credit concentration risk and will continue to monitor such credit risks[54] - The company has established a risk management and internal control system that includes risk identification, assessment, management, and review[124] Employee and Stakeholder Relations - The group had 91 employees, an increase from 66 employees as of December 31, 2018[156] - The company has established a fair compensation policy for employees, ensuring equal opportunities for promotion, assessment, training, and development[194] - The company maintains good relationships with stakeholders, emphasizing the importance of customer and business partner satisfaction for sustainable development[193] Environmental and Social Responsibility - The group has established a rigorous environmental management system to promote environmental awareness among employees[149] - The group has complied with relevant environmental laws and regulations in all significant aspects as of December 31, 2019[149] - An independent environmental, social, and governance report is expected to be published within three months after the annual report[160] Shareholder Information - The company has established various communication channels with shareholders, including annual general meetings and other shareholder meetings[135] - The company did not recommend the payment of a final dividend for the year ended December 31, 2019, consistent with the previous year where no dividend was declared[147] - The company has confirmed compliance with a non-competition agreement by its controlling shareholders, ensuring adherence to commitments made[122]

Financial Performance - For the nine months ended September 30, 2019, the group recorded unaudited revenue of approximately HKD 137.0 million, an increase of about 13.6% compared to HKD 120.6 million for the same period in 2018[4] - The group reported an unaudited loss attributable to owners of the company of approximately HKD 0.7 million for the nine months ended September 30, 2019, compared to a profit of HKD 11.3 million for the same period in 2018[4] - Basic and diluted loss per share for the nine months ended September 30, 2019, was HKD 0.08, compared to earnings of HKD 1.26 per share for the same period in 2018[4] - For the three months ended September 30, 2019, the group recorded revenue of HKD 45.0 million, compared to HKD 42.1 million for the same period in 2018, reflecting an increase[5] - The gross profit for the nine months ended September 30, 2019, was HKD 27.96 million, compared to HKD 25.21 million for the same period in 2018[5] - The total comprehensive loss for the nine months ended September 30, 2019, was HKD 857,000, compared to a total comprehensive income of HKD 11.07 million for the same period in 2018[5] - The travel business generated revenue of HKD 127,719,000 for the nine months ended September 30, 2019, compared to HKD 114,304,000 in the same period of 2018, reflecting a year-on-year increase of 11.8%[19] - The car rental services segment reported revenue of HKD 9,278,000 for the nine months ended September 30, 2019, up from HKD 6,296,000 in the previous year, marking a growth of 47.5%[19] - The adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the travel business was HKD 19,058,000, while for the car rental business it was HKD 4,642,000, contributing to a total adjusted EBITDA of HKD 5,049,000[19] - The company reported a pre-tax loss of HKD 328,000 for the nine months ended September 30, 2019, compared to a profit of HKD 13,035,000 in the same period of 2018[19] - The total comprehensive income for the nine months ended September 30, 2019, was HKD 451,000, a notable increase from HKD 7,000 in the same period of 2018[22] Expenses and Costs - Administrative expenses increased to HKD 11.7 million for the nine months ended September 30, 2019, compared to HKD 7.66 million for the same period in 2018[5] - Sales cost for the nine months ended September 30, 2019, was approximately HKD 109.0 million, an increase of about 14.3% compared to HKD 95.4 million for the same period in 2018[34] - Administrative expenses rose by approximately 52.0% from HKD 7.7 million to HKD 11.7 million, mainly due to increased staffing for the IPO preparations[37] - The company incurred listing expenses of HKD 16,868,000 for the nine months ended September 30, 2019, compared to HKD 4,509,000 for the same period in 2018[24] - Financing costs surged from approximately HKD 10,000 to HKD 163,000, attributed to new secured bank loans of approximately HKD 4.5 million[39] Equity and Dividends - The company’s total equity as of September 30, 2019, was HKD 98.52 million, an increase from HKD 45.97 million as of January 1, 2019[8] - The company declared dividends amounting to HKD 8.89 million during the reporting period[8] - The company declared an interim dividend of approximately HKD 8,891,000 on April 30, 2019[31] Market Strategy and Future Plans - The group plans to continue exploring market expansion opportunities and new product development strategies in the upcoming quarters[4] - The company aims to strengthen its market position in the Macau tourism industry and drive sustainable growth[32] - The company plans to expand its fleet by acquiring additional vehicles and hiring more drivers to meet the growing demand for multi-purpose car rental services in Macau[54] - The company aims to establish more hotel room guarantee agreements with hotel operators to increase the number of mid-range hotel rooms and expand its hotel base, thereby attracting business travelers and high-spending customers[54] - The company intends to open more service points and develop an online platform application to market its travel products and services to corporate and retail customers[55] - The company plans to invest in digital marketing through social media platforms and search engine advertising to enhance its online presence and drive online inquiries for its products and services[55] - The company is strategically seeking partnerships with more hotel operators and travel agents to enhance its market share[54] Corporate Governance - The company is committed to maintaining high standards of corporate governance to ensure transparency and protect shareholder interests[57] - The company is focused on consolidating its existing business development while providing stable returns and growth prospects for its shareholders[56] - The audit committee was established in accordance with GEM Listing Rules and consists of three independent non-executive directors[71] - The audit committee reviewed the condensed consolidated financial statements for the nine months ended September 30, 2019[71] Shareholder Information - As of September 30, 2019, the company’s major shareholder, Mr. Cai Weizhen, holds 900,000,000 shares, representing 75.0% of the total shares[62] - The company has adopted a share option scheme on March 3, 2019, to incentivize employees and align their interests with shareholders[67] - The company has not repurchased, sold, or redeemed any of its ordinary shares from the date of listing until September 30, 2019[61] - No stock options were granted, exercised, canceled, or expired as of September 30, 2019[68] - All directors confirmed compliance with the trading standards from the listing date to September 30, 2019[69] Financial Position - Cash and cash equivalents increased by approximately 224.1% to about HKD 44.4 million from HKD 13.7 million in 2018, mainly due to net proceeds from the IPO[46] - Total borrowings as of September 30, 2019, amounted to approximately HKD 7.4 million, a significant increase from HKD 0.5 million in 2018[47] - The debt-to-equity ratio as of September 30, 2019, was approximately 7.5%, up from 1.2% in 2018, mainly due to the recognition of lease liabilities and new secured bank loans[49] - The company had no significant capital commitments or contingent liabilities as of September 30, 2019[50][51] Accounting and Compliance - The company has not applied new accounting standards that have been issued but are not yet effective as of September 30, 2019[12] - The company had no taxable profits sourced from Hong Kong, thus no provision for Hong Kong profits tax was made[26] - The estimated interest on unsecured loans was HKD 0 for the nine months ended September 30, 2019, compared to HKD 10,000 for the same period in 2018[23] - Interest income for the nine months ended September 30, 2019, was HKD 36,000, compared to HKD 6,000 in the same period of 2018, indicating a significant increase[22] - The interest on lease liabilities for the nine months ended September 30, 2019, was HKD 70,000, while there was no such expense in the same period of 2018[23] - Depreciation of property, plant, and equipment increased from HKD 2,402,000 for the nine months ended September 30, 2018, to HKD 3,502,000 for the same period in 2019[24] Events After Reporting Period - No significant events occurred after September 30, 2019, up to the report date[70]