Financial Performance - Turnover for the three months and nine months ended 31 December 2019 was approximately HK$116,421,000 and HK$370,778,000 respectively, compared to HK$84,016,000 and HK$135,768,000 for the corresponding periods last year, representing an increase of 38.5% and 173.5%[7] - Loss attributable to owners of the Company was approximately HK$2,949,000 and HK$10,539,000 for the three months and nine months ended 31 December 2019, compared to a profit of HK$2,654,000 and a loss of HK$4,681,000 for the corresponding periods last year[7] - For the nine months ended 31 December 2019, total revenue reached HK$370,804,000, compared to HK$135,820,000 for the same period in 2018, indicating a significant increase of 172.5%[76] - The total comprehensive loss for the period was approximately HK$19,080,000 for the nine months ended 31 December 2019, compared to a total comprehensive loss of HK$24,701,000 for the same period last year[64] - The Group's cash and bank deposits amounted to approximately HK$16,975,000, a decrease of approximately 47.62% from HK$32,405,000 as of March 31, 2019[41] Revenue Sources - Revenue generated from advertising media services for the three and nine months ended 31 December 2019 was approximately HK$108,599,000 and HK$264,433,000 respectively[18] - Revenue from forestry products for the nine months ended December 31, 2019, was HK$35,943,000, while revenue for the three months was nil[22] - Revenue from information technology products for the nine months ended December 31, 2019, was approximately HK$69,682,000, and for the three months was approximately HK$7,591,000[29] - The advertising business generated revenue of HK$264,433 for the nine months ended December 31, 2019, while the general trading business reported HK$69,682[86] Business Operations - Shenzhen Zhixunpai strengthened its collaboration with major companies including Baidu, Alibaba, and Tencent, significantly growing its mobile advertising and media services[9] - The Group is the only railway magazine operator for China Railway Guangzhou Bureau Group, with its main businesses including a railway magazine and a WeChat eCommerce platform[15] - The Group is restructuring its product portfolio by reducing less competitive products like smartphones and focusing on power source products such as UPS and batteries[24] - The leasing of the commercial portion of the property has commenced, with plans to start selling part of the residential portion when the market revives[34] Financial Position - The Group had net current assets of approximately HK$94,037,000 as of December 31, 2019, down from HK$111,003,000 as of March 31, 2019[41] - The Group's gearing ratio increased to approximately 125.31% as of 31 December 2019, up from 81% as of 31 March 2019, primarily due to a decrease in cash and bank deposits[48] - The Group's cash and cash equivalents decreased, impacting the gearing ratio negatively[48] Management and Governance - The Audit Committee comprises three independent non-executive Directors and regularly reviews the effectiveness of the internal control system[151] - The Remuneration Committee is responsible for reviewing and determining the remuneration policy for directors and senior management[153] - The Board does not recommend the payment of a dividend for the three months and nine months ended 31 December 2019, consistent with the same periods in 2018[118] Shareholder Information - Ms. Ng Mui King holds a total of 337,920,000 shares, representing approximately 14.26% of the issued share capital[161] - As of December 31, 2019, Gold City Assets Holdings Ltd. holds 337,920,000 shares, representing 14.26% of the company's issued share capital[173] - Mr. Huang Shih Tsai owns 155,000,000 shares, accounting for 6.54% of the company's issued share capital[173] Taxation - Income tax credit for the nine months ended December 31, 2019, was HK$311, compared to HK$299 in the same period of 2018[95] - Hong Kong Profits Tax is calculated at a rate of 8.25% on the first HK$2 million of estimated assessable profit and 16.5% on the remainder for the three and nine months ended December 31, 2019[106] - The tax rate applicable to PRC subsidiaries is 25% under the EIT Law, with no provision for current tax made for Hong Kong Profits Tax due to no assessable profit[98] Future Outlook - The recent outbreak of Coronavirus is expected to have a lasting impact on the global economy, prompting the Group to adopt a conservative approach towards profitability in the coming months[36] - The Group will explore new investment opportunities to diversify activities and strengthen revenue bases[29]
世大控股(08003) - 2020 Q3 - 季度财报