Financial Performance - For the nine months ended December 31, 2020, the group's revenue was approximately HKD 61,726,000, a decrease of about 25% compared to the same period last fiscal year[14]. - The gross profit for the nine months ended December 31, 2020, was approximately HKD 53,903,000, down from HKD 63,614,000 in the same period last year[14]. - The profit attributable to shareholders for the nine months ended December 31, 2020, was approximately HKD 4,477,000, compared to a loss of HKD 2,474,000 in the same period last year[14]. - The total comprehensive income for the nine months ended December 31, 2020, was HKD 17,014,000, compared to HKD 3,161,000 in the same period last year[18]. - The basic and diluted earnings per share for the nine months ended December 31, 2020, was HKD 0.21, compared to a loss of HKD 0.11 in the same period last year[27]. - The group reported a loss before tax of HKD 3,303,000 for the three months ended December 31, 2020, compared to a profit of HKD 21,728,000 in the same period last year[18]. - The group’s other operating income for the nine months ended December 31, 2020, was HKD 2,780,000, down from HKD 7,331,000 in the same period last year[18]. - Financial services revenue for the nine months was HKD 37,297,000, down from HKD 50,420,000 in the previous year, representing a decline of 26%[35]. - Horse racing services revenue for the nine months was HKD 24,429,000, down from HKD 32,109,000, reflecting a decrease of 24%[35]. Dividend and Shareholder Information - The company did not recommend the payment of an interim dividend for the nine months ended December 31, 2020[15]. - The company did not recommend the payment of an interim dividend for the nine months ended December 31, 2020, compared to no dividend in the same period last year[48]. - As of December 31, 2020, the company had a total of 1,435,009,040 shares held by First Cheer Holdings Limited, representing 66.08% of the issued shares[112]. - No new share options were granted or exercised during the nine months ending December 31, 2020[99]. - The company has a total of 107,263,864 share options outstanding as of December 31, 2020[108]. - The exercise price for the share options ranges from HKD 0.315 to HKD 1.260[108]. Operational Highlights - The group primarily engages in lending, securities, futures brokerage, asset management services, and horse-related services during the reporting period[28]. - Direct costs decreased from approximately HKD 18,915,000 in the previous year to about HKD 7,823,000[58]. - Administrative expenses recorded a reduction of 15%, decreasing from approximately HKD 65,237,000 to about HKD 55,526,000, primarily due to improved internal control efficiency[58]. - The company has maintained a stable number of breeding horses compared to last year, contributing to steady income from horse breeding services[66]. - The board believes that the sale of Sun Kingdom Pty Ltd will positively impact the group's performance[66]. Financial Position - As of December 31, 2020, the group's net asset value was approximately HKD 127,582,000, up from HKD 110,564,000 on March 31, 2020[75]. - Cash and bank balances as of December 31, 2020, were approximately HKD 124,103,000, representing an increase of about 12% from March 31, 2020[75]. Strategic Outlook - The group plans to seek strategic alliances to accelerate business development and improve financial conditions[74]. - The management anticipates that 2020 and 2021 will be challenging due to the global economic impact of the US-China trade dispute and COVID-19[74]. - The group has successfully obtained authorizations for several placement and corporate financing projects since taking over the target companies in February 2016[67]. Corporate Governance - The company has established an Audit Committee as of November 29, 2000, consisting of three independent non-executive directors to oversee financial reporting and internal controls[119]. - The company has complied with all provisions of the corporate governance code as per GEM Listing Rules, except for the absence of the chairman at the 2019 annual general meeting due to unforeseen circumstances[124]. - The Remuneration Committee, established on March 18, 2005, is responsible for recommending policies regarding the remuneration of directors and senior management[120]. - The board consists of three executive directors and three independent non-executive directors, ensuring a balanced governance structure[126]. - The company continues to adopt a code of conduct regarding securities trading by directors, ensuring compliance with GEM Listing Rules[125]. - The company will continue to review its corporate governance practices to ensure compliance with the relevant codes[124]. Employment and Remuneration - The total number of employees as of December 31, 2020, was 65, an increase from 62 in 2019[85]. - The total remuneration for employees for the nine months ended December 31, 2020, was approximately HKD 21,280,000, down from HKD 22,062,000 in 2019[85]. Other Information - The company has not entered into any significant contracts that would provide directors with substantial interests as of the end of the reporting period[110]. - The company has not disclosed any new strategies or market expansions during the reporting period[98]. - There were no acquisitions or mergers reported in the latest financial period[98]. - The company did not report any new product developments or technological advancements during the nine months ending December 31, 2020[98]. - The company has not engaged in any competitive business or conflicts of interest involving its directors or major shareholders[118]. - The company has not been notified of any relevant interests or short positions in shares as of December 31, 2020[116].
帝国金融集团(08029) - 2021 Q3 - 季度财报