Financial Performance - Revenue from operations for the three months ended June 30, 2019, was approximately HK$85,379,000, an increase of 112% compared to HK$40,236,000 for the same period last year[9]. - Loss attributable to owners of the Company for the three months ended June 30, 2019, was approximately HK$1,861,000, compared to a loss of HK$1,264,000 for the corresponding period last year[9]. - Gross profit for the three months ended June 30, 2019, was HK$1,151,000, compared to HK$241,000 for the same period last year, indicating a significant improvement[14]. - Total comprehensive loss for the period was HK$4,354,000, compared to HK$14,728,000 for the same period last year, reflecting a reduction in losses[17]. - Basic and diluted loss per share for the three months ended June 30, 2019, was HK$0.08 cents, compared to HK$0.05 cents for the same period last year[14]. - Total revenue for reportable segments increased to HK$85,379,000, up from HK$40,236,000 in the previous year, representing a growth of 112.2%[57]. - The total loss for reportable segments was HK$2,009,000, compared to a loss of HK$505,000 in the same period last year, indicating a significant increase in losses[63]. - The consolidated loss before tax was HK$2,221,000, slightly higher than the loss of HK$2,137,000 reported in the previous year[69]. - For the three months ended June 30, 2019, the loss attributable to owners of the Company was HK$1,861,000, compared to a loss of HK$1,264,000 for the same period in 2018, representing an increase of 47.2%[80]. Revenue Breakdown - The Group's total revenue for the three months ended June 30, 2019, was HK$85,461,000, an increase of 112% compared to HK$40,275,000 for the same period in 2018[35]. - Sales of information technology products increased significantly to HK$56,513,000, up from HK$40,109,000, representing a growth of 41%[35]. - The provision of mobile advertising media services generated revenue of HK$27,691,000, with no prior year comparison available[35]. - Revenue from external customers in the forestry business was HK$259,000, while the general trading business generated HK$40,109,000[48]. - Revenue of approximately HK$917,000 was generated from the sales of forestry products, with expectations for increased revenue in the second half of the financial year upon harvest[111]. - Revenue of approximately HK$56,512,000 was generated from the sales of information technology products, with ongoing efforts to introduce different product lines and marketing channels[113]. - Revenue of approximately HK$27,691,000 was generated from mobile advertising media services, with the Group acting as a one-stop solutions provider[118]. Cost and Expenses - Staff costs rose to HK$2,265,000, an increase of 88% from HK$1,204,000 in the previous year[60]. - Cost of inventories sold surged to HK$84,228,000, up from HK$39,995,000, reflecting a 110.8% increase[70]. - Operating lease charges for land and buildings amounted to HK$4,674,000, significantly higher than HK$214,000 in the previous year[70]. Accounting Policies - The Group has been impacted by HKFRS 16 in relation to leases, indicating a change in accounting policies[24]. - The Group has adopted HKFRS 16, which will lead to an increase in both assets and liabilities, impacting the timing of expense recognition over the lease period[29]. - As of April 1, 2019, the Group's future minimum lease payments under non-cancellable operating leases need to be recognized as lease liabilities, with corresponding right-of-use assets[29]. - The Group has chosen not to apply the new accounting model to short-term leases (12 months or less) and low-value asset leases, allowing rental expenses to continue being recognized systematically over the lease term[31]. - The financial statements have been prepared in compliance with Hong Kong Accounting Standard 34, ensuring adherence to regulatory requirements[19]. - The financial information presented is unaudited but has been reviewed by the Company's audit committee[33]. - The Group is currently assessing the impact of new and revised HKFRSs that have been issued but are not yet effective[33]. Corporate Governance - The Company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, in compliance with the Corporate Governance Code[143]. - The Audit Committee regularly reviews the effectiveness of the internal control system and the quarterly, interim, and annual reports of the Group[144]. - The Company has complied with the Corporate Governance Code throughout the three months ended June 30, 2019[137]. - The Board of Directors consists of three executive directors, one non-executive director, and three independent non-executive directors[138]. Share Capital and Management - The Company’s share premium account as of April 1, 2019, was HK$233,339,000, indicating a stable capital structure[92]. - The authorized share capital of the Company is 30,000,000 shares, amounting to HK$300,000,000[127]. - The issued and fully paid share capital is 2,368,936 shares, totaling HK$23,689,000, with no ordinary shares issued during the three months ended June 30, 2019[127][129]. - The Company has a share option scheme that allows for the granting of options up to 10% of the issued share capital at the time of granting[128]. - The remuneration for key management personnel for the three months ended June 30, 2019, was HK$660,000, an increase from HK$561,000 in the same period of 2018, representing a growth of 17.6%[98]. Cash and Assets - As of June 30, 2019, the Group's cash and bank deposits amounted to approximately HK$27,669,000, a decrease of approximately 14.62% from HK$32,405,000 as of March 31, 2019[122]. - The Group had net current assets of approximately HK$110,618,000 as of June 30, 2019, compared to HK$111,003,000 as of March 31, 2019[122]. - The Group owns a property in Leshan City, Sichuan Province, with a gross floor area of approximately 28,251.82 sq. m., and expects to commence selling and leasing portions of the property[106]. Shareholder Information - Ms. Ng Mui King holds a total of 337,920,000 shares, representing approximately 14.26% of the issued share capital of the Company[155]. - Mr. Huang Shih Tsai holds 155,000,000 shares, which accounts for approximately 6.54% of the issued share capital of the Company[167]. - The Company did not redeem any shares during the three months ended June 30, 2019, nor did it or its subsidiaries purchase or sell any shares during this period[170]. - There were no arrangements enabling Directors or chief executives to acquire benefits through the acquisition of shares or debentures during the three months ended June 30, 2019[162]. - The beneficial ownership of Gold City Assets Holdings Ltd. is held by Ms. Ng Mui King, Joky, a non-executive director of the Company[167].
世大控股(08003) - 2020 Q1 - 季度财报