Financial Performance - For the three months ended September 30, 2020, the company reported revenue of HKD 139,002,000, a 47.1% increase from HKD 94,423,000 in the same period of 2019[6] - The gross profit for the nine months ended September 30, 2020, was HKD 40,658,000, representing a 88.9% increase compared to HKD 21,517,000 in the previous year[6] - The company achieved a profit before tax of HKD 7,469,000 for the third quarter, compared to a loss of HKD 2,428,000 in the same quarter of 2019[6] - The net profit for the nine months ended September 30, 2020, was HKD 3,898,000, a significant recovery from a loss of HKD 15,604,000 in the previous year[6] - Basic earnings per share for the third quarter was HKD 1.15, compared to a loss per share of HKD 0.41 in the same period of 2019[6] - The total comprehensive income for the third quarter was HKD 7,287,000, compared to a loss of HKD 2,387,000 in the same quarter of 2019[6] - For the nine months ended September 30, 2020, the total revenue was HKD 346,347,000, representing an increase of 13.4% compared to HKD 305,415,000 for the same period in 2019[16] - The group's revenue increased by approximately 13.4% from about HKD 305.4 million for the nine months ended September 30, 2019, to about HKD 346.3 million for the nine months ended September 30, 2020[26] - Gross profit rose by approximately 89.3% from about HKD 21.5 million to about HKD 40.7 million, with gross margin increasing from approximately 7.0% to about 11.7%[28] - Total comprehensive income increased by approximately 121.3% from about HKD 15.5 million in total expenses to about HKD 3.3 million in total comprehensive income for the nine months ended September 30, 2020[34] Revenue Sources - Air freight agency service revenue for the three months ended September 30, 2020, was HKD 63,528,000, a significant increase of 144.5% from HKD 26,010,000 in 2019[16] - E-commerce fulfillment service revenue increased to HKD 66,158,000 for the nine months ended September 30, 2020, up 16.5% from HKD 56,984,000 in 2019[16] - Air freight forwarding services generated an increase in revenue of approximately HKD 50.9 million, while logistics services and e-commerce fulfillment services contributed increases of about HKD 16.1 million and HKD 9.2 million, respectively[26] Operational Strategy - The company plans to continue expanding its logistics services, particularly in e-commerce and cross-border logistics[9] - The company is focused on enhancing its operational efficiency and exploring new market opportunities to drive future growth[9] - The company is expanding its e-commerce fulfillment business in response to increasing demand due to growth in e-commerce activities in the US and Europe[22] - Future plans include expanding logistics operations in Asia by establishing different warehouses[24] - The company aims to enhance its last-mile delivery times and streamline e-commerce processes to improve efficiency[25] - The company is focusing on capturing the growing opportunities from cross-border e-commerce flows and exports from China to the world[25] Shareholder Information - The company reported a total equity of HKD 49,988,000 as of September 30, 2020, an increase from HKD 45,681,000 at the beginning of the year[7] - The company’s major shareholder, Million Venture, holds 450,000,000 shares, representing 75% of the issued share capital[42] - The total number of share options granted to directors is 4,500,000, accounting for approximately 0.75% of the issued share capital[40] - The share options granted to employees total 3,000,000, which are also unexercised as of September 30, 2020[44] - As of September 30, 2020, the company granted a total of 10,500,000 share options under the share option scheme, which remain unexercised[44] Corporate Governance - The company has adopted the principles and code provisions of the Corporate Governance Code as per GEM Listing Rules, ensuring proper regulation of its operations and decision-making processes[48] - The company has established an Audit Committee, Nomination Committee, and Remuneration Committee to ensure a balance of power and responsibilities within the board[48] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements for the nine months ended September 30, 2020, confirming compliance with applicable accounting standards[50] - The company has complied with all provisions of the Corporate Governance Code during the reporting period, except for the separation of the roles of Chairman and CEO[48] Expenses and Taxation - The estimated tax expense for the nine months ended September 30, 2020, was HKD 121,000, compared to HKD 67,000 in 2019, reflecting an increase of 80.6%[17] - Administrative expenses increased by approximately 8.4% from about HKD 32.2 million to about HKD 34.9 million, mainly due to increased depreciation expenses[32] - The increase in sales costs was approximately 7.7%, rising from about HKD 283.9 million to about HKD 305.7 million, primarily due to increased air freight costs[28] Dividends and Acquisitions - The company did not declare any interim dividends for the nine months ended September 30, 2020, compared to no dividends declared in 2019[20] - The company did not recommend the payment of an interim dividend for the nine months ended September 30, 2020[35] - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the nine months ended September 30, 2020[36] Other Information - The company has not received any notifications from other individuals regarding interests in shares or bonds that require disclosure under the Securities and Futures Ordinance as of September 30, 2020[42] - No significant contracts exist where the company’s directors have a substantial interest as of September 30, 2020[46] - There were no arrangements made for directors to benefit from purchasing shares or bonds of the company or any other entity during the nine months ending September 30, 2020[45] - No competitive interests were reported by the directors or major shareholders that could conflict with the company’s business as of September 30, 2020[47] - A lease agreement was signed for a property from January 1, 2021, to December 31, 2023, with an option to renew for an additional three years[49]
骏高控股(08035) - 2020 Q3 - 季度财报