Financial Performance - For the nine months ended May 31, 2021, the company's revenue was approximately HKD 102,199,000, an increase of 17.3% compared to HKD 87,180,000 for the same period in 2020[8] - The gross profit for the nine months was approximately HKD 21,976,000, remaining relatively stable compared to HKD 21,965,000 in the previous year[11] - The total profit and comprehensive income for the period was approximately HKD 7,575,000, significantly up from HKD 1,432,000 in the same period last year, primarily due to government subsidies received under the "Employment Support Scheme"[8] - The operating profit for the nine months was approximately HKD 7,935,000, compared to HKD 2,151,000 in the previous year, reflecting a substantial improvement[11] - The company reported a basic and diluted earnings per share of HKD 0.473 for the nine months, compared to HKD 0.090 in the same period last year[11] - The group reported a profit of HKD 10,604,000 for the nine months ended May 31, 2021, compared to HKD 5,343,000 for the same period in 2020, reflecting a significant increase of 98.5%[26] - The profit attributable to the company's owners rose to approximately HKD 7,575,000 for the nine months ended May 31, 2021, compared to HKD 1,432,000 for the same period in 2020[45] Revenue Breakdown - For the three months ended May 31, 2021, the total revenue was HKD 31,667,000, representing an increase of 19.8% compared to HKD 26,568,000 for the same period in 2020[22] - Installation services generated revenue of HKD 12,386,000 for the three months ended May 31, 2021, a 17.2% increase from HKD 10,569,000 in 2020[22] - Maintenance services revenue was HKD 17,495,000 for the three months ended May 31, 2021, up 19.3% from HKD 14,688,000 in the same period last year[22] Expenses and Costs - The administrative expenses for the nine months were approximately HKD 20,390,000, slightly increasing from HKD 20,184,000 in the previous year[11] - The total employee costs for the nine months ended May 31, 2021, amounted to HKD 57,681,000, an increase of 28.9% from HKD 44,759,000 in the previous year[28] - The cost of sales rose by approximately 23.01% from about HKD 65,215,000 for the nine months ended May 31, 2020, to about HKD 80,223,000 for the same period in 2021[43] - Gross profit slightly increased by approximately 0.05% from about HKD 21,965,000 to about HKD 21,976,000 during the same period[43] - The administrative expenses increased by approximately 1.02% from about HKD 20,184,000 to about HKD 20,390,000, mainly due to general salary increases[44] Equity and Assets - The company’s total equity as of May 31, 2021, was approximately HKD 63,356,000, up from HKD 55,781,000 as of September 1, 2020[12] - As of May 31, 2021, the fair value of financial assets measured at fair value through profit or loss included securities listed on the stock exchange, with a total fair value change of HKD 131,000 (100% of the total financial assets) for Panran Environmental Consulting Limited[50] - The group’s total assets are primarily located in Hong Kong, with all external customer revenue also derived from this region[26] Corporate Governance - The company has established an audit committee consisting of four independent non-executive directors to oversee financial reporting and internal controls[77] - The company has adopted a code of conduct for securities trading by directors, which complies with GEM listing rules[74] - The company has confirmed compliance with the non-competition agreement by its controlling shareholders during the reporting period[70] - The company has maintained good corporate governance practices in accordance with the GEM listing rules[73] - The company believes that having the same individual serve as both chairman and CEO is beneficial for its operations and management[73] Future Plans and Strategies - The company is focusing on bidding for ELV maintenance service contracts to strengthen customer relationships and increase market share[38] - The company plans to invest in developing internal capabilities and collaborate with business partners to provide integrated solutions and security services[41] - The company plans to expand its project portfolio in Southeast Asia and other regions under the "Belt and Road Initiative" through ongoing business diversification[52] Shareholding and Securities - The company holds a 55% shareholding in the controlled corporation, with Dr. Ng Tai Wing and Ms. Wang Zhiwen each holding 880,000,000 shares[60] - As of May 31, 2021, ECI Asia Investment Limited holds 880,000,000 shares, representing 55% of the total shares issued[65] - Mr. Yang holds 320,000,000 shares, which accounts for 20% of the total shares issued[65] - The total number of shares issued as of May 31, 2021, is 1,600,000,000[66] - The company has not granted any stock options under the stock option plan as of May 31, 2021, and has no outstanding stock options, warrants, or convertible securities[59] - The company has not repurchased or sold any of its listed securities during the nine months ending May 31, 2021, and up to the report date[76] Dividend Policy - The company did not recommend the payment of an interim dividend for the period[9] - The company did not declare any interim dividends for the nine months ended May 31, 2021, consistent with the previous year[32] Compliance and Reporting - The board approved the unaudited condensed consolidated financial statements on July 8, 2021, prior to publication[79] - The board consists of seven members, including two executive directors, one non-executive director, and four independent non-executive directors[79] - The group has applied new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial performance for the current and prior periods[20]
ECI TECH(08013) - 2021 Q3 - 季度财报