Financial Performance - For the three months ended March 31, 2021, the group's revenue was approximately HKD 2.0 million, a decrease of about 15.3% compared to approximately HKD 2.4 million for the same period in 2020[8]. - The group recorded a total comprehensive loss of approximately HKD 4.3 million for the period, an increase of about 6.3% from a loss of approximately HKD 4.1 million in the same period last year[8]. - Revenue from consulting and technical services decreased by approximately 57.6%, while revenue from maintenance services decreased by approximately 89.3% compared to the same period last year[8]. - Revenue from the electronic gaming equipment segment's technical sales and distribution increased by 57.9% compared to the same period last year[8]. - The company's total revenue for Q1 2021 was approximately HKD 2,015,658, a decrease of 15.3% compared to HKD 2,380,381 in Q1 2020[18]. - Revenue from the technical sales and distribution of electronic gaming equipment increased by 57.9% to HKD 1,589,884, compared to HKD 1,007,107 in the same period last year[36]. - Revenue from consulting and technical services decreased by 57.6% to HKD 372,995, down from HKD 879,825 in Q1 2020[36]. - Revenue from maintenance services saw a significant decline of 89.3%, falling to HKD 52,779 from HKD 493,449 in the previous year[36]. - The company reported a net loss attributable to shareholders of HKD 4,341,636 for Q1 2021, compared to a loss of HKD 4,086,313 in Q1 2020[26]. - The group's gross profit for the period was HKD 415,420, down from HKD 683,160 in the same period last year[9]. - Gross profit for the three months ended March 31, 2021, was HKD 415,420, with a gross margin of 20.6%, down from a gross margin of 28.7% in the same period of 2020[39][42]. - The company reported a loss per share of HKD 0.004, unchanged from the same period last year[9]. Operating Expenses - Operating expenses for the period were HKD 4.7 million, a decrease from HKD 5.4 million in the same period last year[9]. - The total employee costs for the period were HKD 3,003,268, down from HKD 3,512,362 in the same period last year[24]. - Operating expenses decreased from HKD 5.4 million in the same period last year to HKD 4.7 million[40]. Dividends and Shareholder Information - The board of directors resolved not to declare any dividends for the period, consistent with the same period last year[8]. - The company did not declare any dividends for the period, consistent with the previous year[27]. - As of March 31, 2021, the beneficial ownership of shares by directors and senior management is 729,610,000 shares, representing 72.96% of the issued shares[60]. - APE HAT Holdings Limited underwent a restructuring on January 14, 2020, transferring shares to key executives, resulting in a combined ownership of 725,100,000 shares, which accounted for 72.51% of the total issued shares[60]. - The total number of issued shares as of March 31, 2021, is 1,000,000,000 shares[66]. - No other individuals or entities outside of directors or senior management were reported to hold 5% or more of the shares as of March 31, 2021[65]. Market Conditions and Future Outlook - The impact of COVID-19 on major clients, particularly casino operators in Macau, led to a slowdown in new orders[8]. - The management remains cautiously optimistic about the recovery of the gaming market, anticipating a revival in 2021 due to potential travel arrangements between Hong Kong and Macau[32]. - The company continues to focus on the electronic gaming equipment market and aims to enhance its service offerings in the future[14]. - The company plans to launch a smart vending solution in Q2 2021, expanding its business beyond gaming equipment[31]. - Management is actively reviewing multiple business plans to expand into non-gaming related revenue sources, focusing on opportunities in Macau and the Greater Bay Area[32]. Governance and Compliance - The audit committee has reviewed the unaudited condensed consolidated financial statements and believes they comply with applicable accounting standards and legal requirements[75]. - The company has adhered to the principles of the Corporate Governance Code and has applied all applicable code provisions during the reporting period[69]. - The company’s governance structure includes an audit committee composed entirely of independent non-executive directors[72]. - The beneficial ownership structure indicates a strong control by the executive team, with each of the three key executives holding significant shares[63]. Cash Management and Assets - As of March 31, 2021, the company's current assets net value was approximately HKD 49.4 million, down from HKD 53.5 million as of December 31, 2020[45]. - The company has maintained a prudent cash management policy, with all cash held in licensed financial institutions in Hong Kong and Macau[54]. - As of March 31, 2021, the company had no capital commitments, and no assets were pledged[52][53]. - The company had no significant investments or acquisitions during the period[47]. - There were no significant events that required disclosure from March 31, 2021, to the report date[71]. - The company has not repurchased any of its listed securities during the reporting period[70].
亚洲先锋娱乐(08400) - 2021 Q1 - 季度财报