Financial Performance - For the three months ended November 30, 2020, ECI Technology Holdings Limited reported revenue of approximately HKD 31,642,000, an increase of 24.5% compared to HKD 25,490,000 in the same period of 2019[8]. - The gross profit for the same period was approximately HKD 6,611,000, a slight decrease of 5.1% from HKD 6,967,000 in 2019[8]. - The net profit after tax for the period was approximately HKD 5,512,000, significantly up from HKD 267,000 in 2019, primarily due to government subsidies received under the "Employment Support Scheme"[8]. - The operating profit for the three months was HKD 5,589,000, compared to HKD 444,000 in the previous year, indicating a substantial improvement in operational efficiency[10]. - Basic and diluted earnings per share for the period were HKD 0.34, compared to HKD 0.02 in the same period of 2019, reflecting a significant increase in profitability[10]. - Total comprehensive income attributable to owners of the company for the period was HKD 5,512,000, compared to HKD 267,000 in the previous year[10]. - Other income for the period increased significantly to HKD 5,346,000 from HKD 94,000 in the previous year, indicating enhanced revenue streams[10]. - Revenue increased by approximately 24.13% from HKD 25,490,000 for the three months ended November 30, 2019, to HKD 31,642,000 for the three months ended November 30, 2020, primarily due to increased maintenance service income[32]. - Sales costs rose by approximately 35.13% from HKD 18,523,000 to HKD 25,031,000 during the same period, consistent with revenue growth[33]. - Gross profit decreased by approximately 5.11% from HKD 6,967,000 to HKD 6,611,000[33]. Expenses and Costs - Administrative expenses for the period were approximately HKD 6,368,000, a slight decrease from HKD 6,505,000 in 2019[10]. - Total employee costs for the period were HKD 19,148,000, an increase from HKD 14,090,000 in the previous year[23]. - Administrative expenses decreased by approximately 2.11% from HKD 6,505,000 to HKD 6,368,000, mainly due to reduced short-term rental expenses[34]. Dividends and Shareholder Information - The company did not recommend the payment of an interim dividend for the period[9]. - The group did not recommend an interim dividend for the three months ended November 30, 2020[24]. - The average number of ordinary shares outstanding was 1,600,000, with no dilutive potential ordinary shares issued during the period[26]. - As of November 30, 2020, Dr. Ng Tai Wing and Ms. Wong Chi Man each held 880,000,000 shares, representing approximately 55% of the total issued shares[45]. - ECI Asia Investment Limited, a related corporation, holds 880,000,000 shares, also representing approximately 55% of the total issued shares[48]. - Mr. Yang Shuo held 320,000,000 shares, representing approximately 20% of the total issued shares as of November 30, 2020[48]. - The company has not disclosed any outstanding options, warrants, or convertible securities as of the report date[44]. Government Support and Subsidies - The group received government subsidies of approximately HKD 5,291,000 related to COVID-19 support measures[21]. - Profit attributable to owners of the company increased to approximately HKD 5,512,000 from HKD 267,000, primarily due to government subsidies received under the "Employment Support Scheme"[35]. Business Operations and Strategy - The company continues to focus on its core business of providing installation and maintenance services, as well as security services, while exploring potential market expansions[13]. - Installation services revenue increased to HKD 12,509,000 from HKD 10,636,000, representing a growth of 17.5%[19]. - Maintenance services revenue rose to HKD 18,087,000, up 33.5% from HKD 13,510,000[19]. - The company is focusing on bidding for ELV maintenance service contracts to strengthen customer relationships and increase market share[30]. - The security guard business faces intensified competition due to rising unemployment and property management companies preferring to hire security personnel directly[31]. - The company plans to invest in developing internal capabilities and collaborate with business partners to provide integrated solutions and security services[31]. - The company has been awarded three major maintenance contracts related to the Hong Kong-Zhuhai-Macao Bridge, which are currently in effect[30]. - The company is optimizing its parking systems to incorporate diverse payment methods, enhancing user convenience[30]. Corporate Governance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15, ensuring compliance with governance standards[53]. - The audit committee, established on February 17, 2017, consists of four independent non-executive directors, with Mr. Xu Junhao as the chairman[56]. - The company confirmed compliance with the trading standards for directors as required by GEM Listing Rules from November 30, 2020, to the report date[54]. - The controlling shareholder has adhered to the non-competition agreement since the listing date, ensuring no conflicts of interest with the company's business[51]. - The company has not entered into any arrangements for directors or senior management to acquire securities of the company or its affiliates during the reporting period[50]. - The board consists of seven members, including two executive directors and four independent non-executive directors[57]. - The company has maintained good internal control procedures to ensure effective accountability[53]. - The audit committee reviewed the unaudited consolidated financial statements for the three months ended November 30, 2020, prior to board approval on January 11, 2021[56]. - The company has not reported any interests or potential competition from directors or controlling shareholders during the reporting period[52]. Capital Commitments - The capital commitment for purchasing new software was HKD 220,000 as of November 30, 2020, up from HKD 155,000 as of August 31, 2020[27]. - The net proceeds from the company's listing on March 10, 2017, amounted to approximately HKD 31,500,000 after deducting all related listing expenses and commissions[41]. - As of November 30, 2020, the company had approximately HKD 3,500,000 of unutilized listing proceeds remaining[41]. - The company plans to utilize the unutilized listing proceeds by August 31, 2022, to meet the minimum operating capital and funding requirements for the "Sewage Treatment and Filtration Plant Mechanical and Electrical Installation" project[42]. - The company has allocated HKD 5,000,000 for expanding its existing security guard business segment[41].
ECI TECH(08013) - 2021 Q1 - 季度财报