Financial Performance - For the first quarter ended March 31, 2020, the company reported revenue of HKD 105,515,000, a decrease of 4% from HKD 110,950,000 in the same period of 2019[7] - The gross profit for the first quarter was HKD 9,555,000, significantly up from HKD 2,960,000 in the previous year, representing a gross margin improvement[7] - The company recorded a loss before tax of HKD 3,082,000, an improvement compared to a loss of HKD 8,145,000 in Q1 2019, indicating a reduction in losses by approximately 62%[7] - The net loss for the period was HKD 3,079,000, compared to a net loss of HKD 8,147,000 in the same quarter last year, reflecting a 62% decrease in net losses[7] - Basic loss per share improved to HKD 0.51 from HKD 1.36 year-over-year, indicating a positive trend in loss reduction[7] - The total comprehensive loss for the period was HKD 3,007,000, compared to HKD 8,189,000 in the previous year, marking a significant improvement[7] - Revenue for the three months ended March 31, 2020, decreased by approximately 5.0% to HKD 105.5 million from HKD 111.0 million for the same period in 2019[26] - Loss attributable to owners decreased by approximately 62.2% to HKD 3.1 million from HKD 8.2 million for the same period in 2019[30] Expenses and Costs - Administrative expenses increased to HKD 11,973,000 from HKD 10,242,000, reflecting a rise of approximately 17% year-over-year[7] - Administrative expenses rose by approximately 17.6% to HKD 12.0 million, primarily due to increased depreciation and legal costs[28] - The company’s financing costs decreased to HKD 1,498,000 from HKD 1,638,000, indicating a reduction of about 9%[7] Shareholder Information - As of March 31, 2020, the major shareholder Million Venture Holdings owns 450,000,000 shares, representing 75% of the company's issued share capital[39] - The company did not declare any interim dividend for the three months ended March 31, 2020[32] - No share buybacks, sales, or redemptions occurred by the company or its subsidiaries during the three months ending March 31, 2020[34] - The company has not granted, exercised, canceled, or allowed any stock options under the stock option plan since its adoption on September 23, 2016[40] Corporate Governance - The company has complied with the corporate governance code, except for the separation of the roles of chairman and CEO, which is deemed appropriate due to the chairman's extensive experience in the industry[45] - There were no significant contracts in which directors had a substantial interest during the reporting period ending March 31, 2020[42] - The Audit Committee was established on September 23, 2016, and consists of three independent non-executive directors[49] - The Audit Committee reviewed the unaudited consolidated financial statements for the three months ended March 31, 2020, and confirmed compliance with applicable accounting standards[49] Future Outlook - The company plans to expand its e-commerce and fulfillment business and is looking for opportunities to set up additional warehouses in Asia[25] - The increase in e-commerce express business is attributed to rising demand from the U.S. and Europe, with plans to enhance last-mile delivery efficiency[22] - The COVID-19 pandemic is expected to impact the company's revenue and operational performance starting in April 2020, with ongoing monitoring of the situation[46] Other Information - The company has not received any notifications from other individuals regarding their interests in the company's shares or related securities as of March 31, 2020[39] - There were no disclosures of any interests or short positions in the company's shares by directors or major executives as of March 31, 2020[37] - No arrangements were made for directors to benefit from purchasing shares or bonds of the company or any other entity during the reporting period[41] - On May 8, 2020, Mr. Dai Jingfeng was appointed as an executive director[47] - The report will be published on the GEM website and the company's website for at least seven days from the publication date[50] - The company has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2020, with no significant impact on its financial statements identified so far[15] - No significant acquisitions or disposals of subsidiaries, associates, or joint ventures occurred during the three months ended March 31, 2020[33]
骏高控股(08035) - 2020 Q1 - 季度财报