Financial Performance - The company reported unaudited financial performance for the nine months ended September 30, 2021[16]. - The financial results have been approved by the board of directors for publication[16]. - The report includes a summary of the consolidated income statement and other comprehensive income for the specified period[10]. - Revenue for the three months ended September 30, 2021, was HKD 137,791,000, a slight decrease of 0.9% compared to HKD 139,002,000 in the same period of 2020[17]. - Gross profit for the nine months ended September 30, 2021, increased to HKD 62,936,000, representing a 54.7% increase from HKD 40,658,000 in the same period of 2020[17]. - The net profit for the nine months ended September 30, 2021, was HKD 18,763,000, significantly up from HKD 3,898,000 in the same period of 2020, marking an increase of 380.5%[17]. - Basic earnings per share for the nine months ended September 30, 2021, was HKD 3.01, compared to HKD 0.56 for the same period in 2020, reflecting a growth of 437.5%[17]. - Total comprehensive income for the nine months ended September 30, 2021, was HKD 18,686,000, compared to HKD 3,818,000 in the same period of 2020, an increase of 388.5%[17]. - Administrative expenses for the nine months ended September 30, 2021, rose to HKD 43,991,000, up from HKD 34,622,000 in the same period of 2020, indicating a 27.1% increase[17]. - Interest income for the nine months ended September 30, 2021, decreased to HKD 2,160,000 from HKD 2,482,000 in the same period of 2020, a decline of 13.0%[17]. - The company reported a loss from impairment of trade receivables of HKD 1,008,000 for the nine months ended September 30, 2021, compared to a loss of HKD 5,696,000 in the same period of 2020, showing an improvement of 82.3%[17]. - The total equity as of September 30, 2021, was HKD 76,854,000, an increase from HKD 57,630,000 at the beginning of the year[18]. - Revenue for the nine months ended September 30, 2021, increased by approximately 15.5% to HKD 400.1 million from HKD 346.3 million for the same period in 2020[38]. - Sea freight forwarding service revenue increased by approximately HKD 28.8 million, while e-commerce fulfillment service revenue increased by approximately HKD 51.1 million for the nine months ended September 30, 2021[38]. - Air freight forwarding service revenue decreased by approximately HKD 7.0 million, and logistics service revenue decreased by approximately HKD 15.5 million for the nine months ended September 30, 2021[38]. - Basic earnings per share for the nine months ended September 30, 2021, were HKD 30.05 cents, compared to HKD 5.57 cents for the same period in 2020[31]. - The company did not declare any interim dividends for the nine months ended September 30, 2021[32]. - Sales cost increased by approximately 10.3% from HKD 305.7 million for the nine months ended September 30, 2020, to HKD 337.1 million for the nine months ended September 30, 2021[41]. - Gross profit rose by approximately 54.5% from HKD 40.7 million to HKD 62.9 million, with gross margin increasing from about 11.7% to approximately 15.7%[41]. - Profit attributable to owners increased by approximately 448.5% from HKD 3.3 million to HKD 18.1 million, primarily due to improved gross margins in e-commerce fulfillment and logistics businesses[45]. - Administrative expenses increased by approximately 27.2% from HKD 34.6 million to HKD 44.0 million, mainly due to an increase in management bonus provisions[42]. Corporate Governance - The board of directors is responsible for ensuring the accuracy and completeness of the financial information presented[10]. - The independent auditor has conducted a review of the financial data according to the relevant standards[12]. - No significant issues were found that would lead to concerns regarding the financial data's compliance with the established criteria[14]. - The company is committed to transparency and accountability in its financial reporting[10]. - The company has established an audit committee to oversee financial reporting systems, risk management, and internal controls[78]. - The audit committee has reviewed the unaudited condensed consolidated financial statements for the nine months ending September 30, 2021, confirming compliance with applicable accounting standards and GEM listing rules[78]. - The company appointed a compliance advisor, who confirmed their independence and lack of interest in the company's equity[67]. - The company has complied with all provisions of the corporate governance code except for clauses A.2.1 and A.5.1 during the nine months ending September 30, 2021[73]. - The board believes that the dual role of the chairman and CEO held by Mr. Wu is in the best interest of the company due to his extensive experience in the logistics industry[73]. - The company appointed two new independent non-executive directors on May 7, 2021, correcting the non-compliance situation regarding the number of independent directors[74]. - The company has established a nomination committee, although it did not strictly comply with the governance code regarding its composition for a brief period[74]. - There were changes in the board of directors, with three resignations and two new appointments effective May 2021[69]. - The board of directors consists of experienced individuals, including three independent non-executive directors, ensuring a balance of power and responsibilities[73]. Market and Business Strategy - The company emphasizes the importance of understanding the potential risks associated with investing in GEM-listed companies[1]. - The company operates in a market characterized by higher investment risks compared to other listed companies[1]. - The company has not reported any new product launches or significant market expansions during this period[21]. - The company plans to expand its e-commerce and fulfillment business and is looking for opportunities to set up different warehouses to expand logistics operations in Asia[37]. - The company aims to enhance its last-mile delivery times and streamline e-commerce processes to improve efficiency[37]. - The increase in e-commerce fulfillment service revenue is primarily due to new and existing customer orders during the period[40]. - The company expects positive growth in e-commerce logistics revenue due to the anticipated robust development of the e-commerce logistics market[37]. Shareholder Information - The company did not purchase, redeem, or sell any shares during the nine months ended September 30, 2021[48]. - As of September 30, 2021, the company had a total of 600 million shares issued, with the largest shareholder holding approximately 0.16%[51]. - Major shareholders include Million Venture Holdings Limited with 156,000,000 shares, representing 26% of the total shares[56]. - The company has a total of 600,000,000 shares issued as of September 30, 2021[57]. - The stock option plan allows for the issuance of up to 60,000,000 shares, which is 10% of the total shares at the time of listing[58]. - As of September 30, 2021, the maximum number of unexercised stock options that could be issued is 10,500,000 shares, accounting for 1.75% of the total shares[61]. - The total number of stock options available for grant under the plan is 49,500,000, representing approximately 8.25% of the total shares[61]. - No arrangements were made for directors to purchase shares or bonds of the company or any other entity during the nine months ending September 30, 2021[64]. - There were no significant contracts in which directors had a substantial interest during the nine months ending September 30, 2021[65]. - No competitive interests were reported among directors or major shareholders that could conflict with the company's business[66]. Audit and Compliance - The financial statements for the nine months ending September 30, 2021, have been reviewed by the company's auditor, providing an unqualified review report[80]. - The company did not disclose any significant events that occurred after September 30, 2021, up to the report date[77].
骏高控股(08035) - 2021 Q3 - 季度财报