Financial Performance - The company's revenue for the three months ended June 30, 2021, was HKD 1,745,000, a decrease of 79% compared to HKD 8,362,000 for the same period in 2020[5] - Gross profit for the same period was HKD 421,000, down 55% from HKD 931,000 year-over-year[5] - The company reported a loss before tax of HKD 3,784,000, compared to a loss of HKD 7,627,000 in the previous year, indicating a 50% improvement in losses[5] - Basic and diluted loss per share was HKD 0.29, compared to HKD 0.59 for the same period in 2020[5] - The total comprehensive loss for the period was HKD 3,784,000, compared to HKD 7,627,000 in the prior year, showing a reduction of 50%[5] - The net loss for the three months ended June 30, 2021, was approximately 3,800,000 HKD, a reduction from a net loss of approximately 7,600,000 HKD for the same period in 2020[24] - The gross profit decreased by approximately 500,000 HKD or 54.7% to about 400,000 HKD for the three months ended June 30, 2021, compared to approximately 900,000 HKD for the same period in 2020[31] - The company recorded a net loss of approximately HKD 3,800,000 for the three months ended June 30, 2021, compared to a net loss of approximately HKD 7,600,000 for the same period in 2020, representing a 50% improvement in losses year-over-year[37] Expenses and Cost Management - Administrative expenses decreased to HKD 4,002,000 from HKD 8,585,000, reflecting a reduction of 53%[5] - The service costs decreased by approximately 6,100,000 HKD or 82% to about 1,300,000 HKD for the three months ended June 30, 2021, compared to approximately 7,400,000 HKD for the same period in 2020[30] - The administrative expenses decreased by approximately 4,500,000 HKD or 53% to about 4,000,000 HKD for the three months ended June 30, 2021, compared to approximately 8,600,000 HKD for the same period in 2020[33] - The financing costs decreased by approximately 500,000 HKD or 66.8% to about 200,000 HKD for the three months ended June 30, 2021, compared to approximately 700,000 HKD for the same period in 2020[35] - The company has implemented cost-cutting measures to minimize cash flow and general expenses while controlling capital expenditures[26] Business Operations and Strategy - The company continues to focus on providing design, procurement, and installation services for water circulation systems, which remains its core business[8] - The company anticipates that the business environment in Hong Kong and Macau will continue to be affected by COVID-19, leading to challenges in obtaining new projects[24] - The company plans to explore opportunities for business diversification and expansion in Hong Kong, Macau, and mainland China[26] Shareholder and Corporate Governance - The company’s total equity as of June 30, 2021, was HKD 43,714,000, down from HKD 68,806,000 a year earlier[6] - The company did not declare or recommend any dividends for the three months ended June 30, 2021, consistent with the same period in 2020[20] - The company has not granted, exercised, or allowed any stock options to expire or lapse during the three months ended June 30, 2021[49] - The company has not purchased, sold, or redeemed any of its listed securities during the three months ended June 30, 2021[53] - The company’s major shareholder, Mr. Lan, holds 652,290,000 shares, representing 50.18% of the total shares[44] - Ms. Chan holds 243,750,000 shares, representing 18.75% of the total shares[46] - The company has adopted a code of conduct regarding securities trading by directors, with no violations reported during the reporting period[54] - The company has adopted and complied with the corporate governance code as per GEM Listing Rules Appendix 15, ensuring proper regulation of business activities and decision-making processes[55] - The company has maintained good corporate governance standards and procedures to enhance accountability and transparency, safeguarding shareholder interests[55] - The company has not identified any business or interests that may compete with its operations from its directors or controlling shareholders[61] Management and Oversight - The company has appointed Mr. Li Guan Yan as the Chief Financial Officer and Company Secretary effective from July 15, 2021[58] - The Audit Committee has reviewed the unaudited consolidated results for the three months ended June 30, 2021, and confirmed compliance with applicable accounting standards and GEM Listing Rules[62] - The Audit Committee consists of three independent non-executive directors, ensuring effective oversight of financial reporting and risk management processes[62] - The company has committed to providing monthly updates to the board regarding performance, financial condition, and outlook, although there was a gap in updates due to the transition of the CFO[58] - The company believes that the dual role of the Chairman and CEO is in the best interest of effective management and business development[55] Acknowledgments - The company expresses gratitude to customers, subcontractors, business partners, and shareholders for their continued support[64]
浩柏国际(08431) - 2022 Q3 - 季度财报