Financial Performance - For the three months ended December 31, 2019, the company reported a revenue of HKD 7,121,000, a decrease of 37.5% compared to HKD 11,466,000 in the same period of 2018[5] - The gross loss for the three months ended December 31, 2019, was HKD 3,342,000, compared to a gross profit of HKD 3,165,000 in the same period of 2018[5] - The loss before tax for the three months ended December 31, 2019, was HKD 16,945,000, compared to a profit before tax of HKD 1,127,000 in the same period of 2018[5] - The net loss attributable to owners of the company for the three months ended December 31, 2019, was HKD 16,839,000, compared to a profit of HKD 758,000 in the same period of 2018[5] - For the nine months ended December 31, 2019, the total comprehensive loss was HKD 18,678,000, compared to a total comprehensive income of HKD 1,988,000 in the same period of 2018[5] - Total revenue for the nine months ended December 31, 2019, was approximately HKD 21,900,000, a decrease of HKD 20,100,000 or 47.9% compared to HKD 42,000,000 for the same period in 2018[27] - The company recorded a net loss attributable to owners of approximately HKD 18,700,000 for the nine months ended December 31, 2019, compared to a profit of HKD 2,000,000 in 2018[32] Expenses - The company incurred an administrative expense of HKD 13,475,000 for the three months ended December 31, 2019, significantly higher than HKD 2,112,000 in the same period of 2018[5] - Administrative expenses for the nine months ended December 31, 2019, totaled approximately HKD 18,600,000, an increase from HKD 7,300,000 in 2018, mainly due to provisions for bad debts[28] - The income tax expense for the nine months ended December 31, 2019, was approximately zero, a decrease from HKD 1,000,000 in 2018, consistent with the reduction in taxable profits[31] Shareholder Information - As of December 31, 2019, the company had 418,000,000 shares issued, with Energetic Way Limited holding 194,800,000 shares, representing 46.60% of the issued share capital[45][49] - Major shareholder Kuo Yueh Hsien held 83,624,000 shares, accounting for 20.01% of the issued share capital as of December 31, 2019[47] - The board of directors and senior management had no other recorded interests in shares or related securities as of December 31, 2019[51] Corporate Governance - The company is committed to high standards of corporate governance to protect shareholder interests and enhance corporate value[63] - The company has complied with the corporate governance code provisions, except for the separation of roles between the chairman and the chief executive officer as required by the code[65] - The audit committee, composed of three independent non-executive directors, has reviewed the unaudited consolidated results for the nine months ending December 31, 2019, ensuring compliance with applicable accounting standards and legal requirements[67] Business Operations - The company primarily engages in providing comprehensive construction and structural engineering consultancy services[10] - The company plans to expand its business scope and service coverage to establish a foundation for long-term development, despite challenges posed by recent social events and the coronavirus outbreak[24] - The company has been awarded contracts totaling HKD 22,000,000, but the projects are currently suspended, impacting revenue recognition[24] Financial Position - The total equity of the company as of December 31, 2019, was HKD 26,634,000, down from HKD 52,455,000 as of December 31, 2018[7] - As of December 31, 2019, the company's current assets net value was approximately HKD 19,400,000, down from HKD 39,900,000 as of March 31, 2019[33] - The current ratio as of December 31, 2019, was approximately 2.7 times, a decrease from 9.4 times as of March 31, 2019[33] Stock Options and Securities - The maximum number of shares that can be issued under the stock option plan is 41,800,000 shares, accounting for approximately 10% of the company's issued share capital as of the plan's adoption date[55] - The total number of shares issued and to be issued due to the exercise of stock options within any twelve-month period cannot exceed 1% of the total issued shares at that time[56] - As of the report date, the company has not granted any stock options since the adoption of the plan[57] - The company has not purchased, sold, or redeemed any listed securities during the nine months ending December 31, 2019[62] Risk Management - The group reported minimal foreign exchange risk as its revenue and business costs are primarily denominated in HKD, leading to no hedging financial instruments being utilized[37] - As of December 31, 2019, there were no significant contingent liabilities noted by the directors[38] - The group had no mortgages arranged with any financial institutions in Hong Kong as of December 31, 2019, consistent with the previous year[36] Employee Compensation - Total employee and director compensation for the nine months ended December 31, 2019, was approximately HKD 14,000,000, showing a slight increase from HKD 13,800,000 in 2018[34] Dividends - The company does not recommend the payment of an interim dividend for the nine months ended December 31, 2019[20]
中国来骑哦(08039) - 2020 Q3 - 季度财报