Revenue Performance - For the nine months ended September 30, 2020, the group's revenue was approximately HKD 39.1 million, a decrease of about 26.8% compared to approximately HKD 53.5 million for the same period in 2019[8] - Revenue from electronic gaming equipment sales and distribution decreased by approximately 24.9% to about HKD 36.1 million from approximately HKD 48.2 million in the same period last year[8] - The company's revenue for the nine months ended September 30, 2020, decreased by approximately 26.8% to HKD 39.1 million from HKD 53.5 million in the same period of 2019[30] - Revenue from the technical sales and distribution of electronic gaming equipment decreased by approximately 17.2% to HKD 36.1 million, compared to HKD 43.7 million in 2019[31] - Revenue from consulting and technical services fell by approximately 40.7% to HKD 2.0 million, down from HKD 3.4 million in the previous year[31] - Revenue from maintenance services decreased by approximately 49.0% to HKD 1.0 million, compared to HKD 2.0 million in 2019[31] - Total revenue for the nine months ended September 30, 2020, was HKD 39,139,851, a decrease from HKD 53,488,632 in the same period last year, representing a decline of approximately 26.8%[34] Financial Losses - The group recorded a total comprehensive loss of approximately HKD 23.5 million for the period, an increase of 784.3% compared to a loss of HKD 2.7 million in the same period last year[8] - The company reported a loss attributable to shareholders of HKD 23.5 million for the nine months ended September 30, 2020, compared to a loss of HKD 2.7 million in the same period of 2019[23] - The basic loss per share for the period was HKD 0.02, compared to HKD 0.003 for the same period in 2019[9] - The company recorded an unaudited loss attributable to shareholders of approximately HKD 23.5 million for the current period, compared to a loss of about HKD 2.7 million in the same period last year[39] Operating Expenses - Operating expenses decreased to approximately HKD 14.58 million from HKD 24.10 million in the same period last year[9] - Operating expenses decreased by approximately 39.5% to about HKD 14.6 million from HKD 24.1 million in the same period last year, attributed to voluntary salary reductions by senior management[35] Dividends - The board of directors decided not to declare any dividends for the period, consistent with the previous year[8] - The company did not declare any dividends for the period, consistent with the previous year[24] - The board has decided not to declare any dividends for the period, consistent with the previous period[56] Company Operations and Strategy - The company primarily engages in the technical sales and distribution of electronic gaming equipment, maintenance services, and consulting services[14] - The company expressed concerns about the impact of COVID-19 on its operations in Macau and Southeast Asia, while aiming to return to pre-COVID-19 activity levels[27] - The company plans to continue exploring new opportunities to complement its core electronic gaming equipment business in Macau and Southeast Asia[27] Financial Position - As of September 30, 2020, the company had no bank borrowings or overdrafts, maintaining a net current asset of approximately HKD 60.2 million[43] - The net proceeds from the listing, after deducting underwriting fees and other expenses, amounted to approximately HKD 40 million, with HKD 0.1 million remaining unutilized as of September 30, 2020[41] - The company plans to utilize the remaining net proceeds for purposes disclosed in the prospectus, including enhancing market presence in Macau and Southeast Asia[42] Employee Costs - Employee costs, including director remuneration, amounted to approximately HKD 9.5 million, down from HKD 12.3 million in the previous year[48] Capital Commitments - Capital commitments for the development of an enterprise resource planning system amounted to approximately HKD 1.8 million as of September 30, 2020[51] Corporate Governance - The financial statements were prepared in accordance with International Financial Reporting Standards and the GEM Listing Rules[15] - The audit committee has reviewed the unaudited condensed consolidated financial statements and believes they comply with applicable accounting standards and legal requirements[71] - The company has adhered to the principles of the Corporate Governance Code and has applied all applicable code provisions during the period[65] Shareholder Information - As of September 30, 2020, the beneficial ownership of shares by directors and senior executives is as follows: Mr. Xu, Mr. Wu, and Mr. Chen each hold 727,020,000 shares, representing 72.70% of the issued shares[58] - APE HAT Holdings Limited underwent a restructuring on January 14, 2020, transferring shares to the directors, resulting in a combined ownership of 725,100,000 shares, which is 72.51% of the total issued shares[59] Relationships with Stakeholders - The company has maintained long-term stable business relationships with major customers, primarily casino operators listed on the Hong Kong Stock Exchange[54] - The company has maintained good relationships with suppliers and has established long-term relationships with selected suppliers[54] Foreign Exchange - The group recorded a net foreign exchange gain of HKD 21,692 during the period, compared to a loss of HKD 57,160 in the same period last year, attributed to fluctuations in the USD to Euro exchange rate[55] Other Matters - There were no significant matters requiring disclosure known to the board after the reporting period[67] - There were no purchases, sales, or redemptions of any listed securities by the company during the period[66] - The company has not made any significant investments or acquisitions during the reporting period[46]
亚洲先锋娱乐(08400) - 2020 Q3 - 季度财报