Financial Performance - For the three months ended March 31, 2019, the group recorded unaudited revenue of approximately RMB 19.5 million, a decrease of about 9.7% compared to RMB 21.6 million for the same period in 2018[5] - The group reported an unaudited loss of approximately RMB 2.0 million for the three months ended March 31, 2019, compared to an unaudited loss of RMB 1.2 million for the same period in 2018[5] - Basic loss per share for the three months ended March 31, 2019, was RMB 0.25, compared to RMB 0.14 for the same period in 2018[5] - Gross profit for the three months ended March 31, 2019, was RMB 5.6 million, down from RMB 6.9 million for the same period in 2018[9] - The group's gross profit decreased by approximately 18.8% to about RMB 5.6 million for the three months ended March 31, 2019, down from approximately RMB 6.9 million in the same period of 2018[42] - The gross profit margin fell from approximately 32.1% for the three months ended March 31, 2018, to about 29.0% for the same period in 2019[42] - Revenue from the clothing manufacturing sector contributed RMB 15,947,000, accounting for approximately 81.9% of total revenue[26] - The company’s revenue from printed products was RMB 8,191,000, a decrease of 13.7% from RMB 9,496,000 in the previous year[26] Expenses - Selling and distribution expenses for the three months ended March 31, 2019, were RMB 1.1 million, slightly reduced from RMB 1.2 million in the same period of 2018[9] - Administrative expenses increased to RMB 6.6 million for the three months ended March 31, 2019, compared to RMB 6.5 million for the same period in 2018[9] - Distribution and selling expenses were approximately RMB 1.1 million for the three months ended March 31, 2019, slightly down from RMB 1.2 million in the same period of 2018[43] - Administrative expenses increased slightly to approximately RMB 6.6 million for the three months ended March 31, 2019, from about RMB 6.5 million in the same period of 2018[44] Dividend - The board of directors resolved not to declare an interim dividend for the three months ended March 31, 2019, consistent with the same period in 2018[5] - The company did not declare an interim dividend for the three months ended March 31, 2019, compared to no dividend declared for the same period in 2018[32] - No interim dividend was declared for the three months ended March 31, 2019, consistent with the same period in 2018[51] Equity and Ownership - The total equity as of March 31, 2019, was RMB 69.7 million, down from RMB 74.5 million as of January 1, 2018[13] - As of March 31, 2019, Neo Concept holds 600,000,000 shares, representing a 75% ownership stake in the company[65] - The company did not purchase, sell, or redeem any shares during the three-month period ending March 31, 2019[67] Compliance and Governance - The financial statements for the three months ended March 31, 2019, were prepared in accordance with Hong Kong Financial Reporting Standards[18] - The company applies new and revised Hong Kong Financial Reporting Standards, which may lead to potential changes in asset classification[24] - The company has complied with the corporate governance code in all material aspects during the three-month period ending March 31, 2019[72] - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ending March 31, 2019, and found them to comply with applicable accounting standards[77] Operations - The group primarily engages in label solutions and garment accessories manufacturing and supply in China[18] - The company continues to serve a large number of clothing brand companies and designated procurement companies in China[38] - The company’s operations are primarily located in China, with most non-current assets and capital expenditures also in China[28] - The company is focused on providing label solutions and one-stop garment accessory manufacturing services[38] Future Plans - The net proceeds from the listing, after deducting related expenses, were approximately HKD 37.6 million[52] - The actual use of proceeds was lower than planned mainly due to the time required to identify suitable machinery for digital printing technology and RFID technology[57] - The group plans to invest in upgrading production facilities and developing digital printing technology, with a budget of HKD 17.0 million allocated for this purpose[53]
新达控股(08471) - 2019 Q1 - 季度财报