Financial Performance - For the three months ended September 30, 2019, the company's revenue was HKD 21,633,000, representing an increase of 5.2% compared to HKD 20,566,000 for the same period in 2018[4] - For the nine months ended September 30, 2019, the company's revenue reached HKD 60,875,000, up 14.5% from HKD 53,430,000 in the previous year[4] - The company's net profit for the three months ended September 30, 2019, was HKD 1,760,000, a decrease of 35.5% from HKD 2,727,000 in the same period of 2018[4] - The net profit for the nine months ended September 30, 2019, was HKD 3,427,000, slightly down by 2.8% compared to HKD 3,525,000 for the same period in 2018[4] - The basic earnings per share for the three months ended September 30, 2019, was HKD 0.21, down from HKD 0.45 in the same period of 2018[4] - The total comprehensive income for the three months ended September 30, 2019, was HKD 1,642,000, compared to HKD 2,727,000 for the same period in 2018[4] - Total revenue for the nine months ended September 30, 2019, was HKD 60,875,000, an increase from HKD 53,430,000 in the same period of 2018, representing a growth of approximately 14.5%[23] - The company recorded a profit of approximately HKD 3,347,000 for the nine months ended September 30, 2019, slightly down by about HKD 178,000 compared to HKD 3,525,000 for the same period in 2018[34] - Total profit and comprehensive income for the nine months ended September 30, 2019, decreased by approximately HKD 178,000 or 5.1% to HKD 3,347,000 from HKD 3,525,000 for the same period in 2018[45] Employee Costs - The company reported employee costs of HKD 15,196,000 for the three months ended September 30, 2019, which is an increase of 29.5% from HKD 11,698,000 in the same period of 2018[4] - Employee costs increased from approximately HKD 33,328,000 for the nine months ended September 30, 2018, to approximately HKD 44,320,000 for the same period in 2019, marking a rise of about 33.0%[40] Financing Costs - The company incurred financing costs of HKD 228,000 for the three months ended September 30, 2019, compared to HKD 199,000 in the same period of 2018[4] - The company reported finance costs of HKD 631,000 for the nine months ended September 30, 2019, up from HKD 471,000 in the same period of 2018, indicating a rise of approximately 34%[23] - The company’s interest on leases for the nine months ended September 30, 2019, was HKD 201,000, reflecting the impact of the new lease accounting standard[23] - The financing cost for the nine months ended September 30, 2019, included lease liabilities interest of HKD 201,000 due to the adoption of HKFRS 16[42] Tax Expenses - The company incurred a tax expense of HKD 1,684,000 for the nine months ended September 30, 2019, compared to HKD 2,608,000 in 2018, showing a decrease of about 35.4%[24] - Income tax expenses decreased by approximately HKD 924,000 or 35.4% from HKD 2,608,000 for the nine months ended September 30, 2018, to HKD 1,684,000 for the nine months ended September 30, 2019[44] Market Strategy and Expansion - The company has been providing recruitment and payroll services in Hong Kong, Macau, and China, indicating a focus on market expansion[6] - The company aims to maintain a significant market share and continue to seize market opportunities for sustainable business development[35] - The company plans to expand its services beyond Hong Kong, leveraging its strong client base and brand recognition[36] Corporate Governance - The company has complied with the corporate governance code as per GEM Listing Rules Appendix 15 for the nine months ending September 30, 2019[62] - All directors confirmed adherence to the trading standards and code of conduct for securities transactions during the nine months ending September 30, 2019[63] - The Audit Committee, established on September 13, 2018, consists of three independent non-executive directors and oversees financial reporting and internal controls[65] - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the nine months ending September 30, 2019, providing opinions and recommendations[65] - The board includes three executive directors and three independent non-executive directors as of the report date[67] Share Capital and Dividends - As of September 30, 2019, the company had a total issued share capital of 800,000,000 shares[52] - Major shareholders KJE Limited and Caiden Holdings Limited each hold 600,000,000 shares, representing approximately 75% of the issued share capital[53] - The company did not recommend the payment of dividends for the nine months ended September 30, 2019[30] - No dividend was recommended for the nine months ended September 30, 2019[46] Other Financial Information - The company recognized lease liabilities of HKD 6,079,000 and right-of-use assets of HKD 5,771,000 upon the initial application of HKFRS 16 on January 1, 2019[16] - The company has opted for exemptions on low-value asset leases and leases with a term of 12 months or less, recognizing lease payments on a straight-line basis[16] - The company’s operating lease commitments as of December 31, 2018, were HKD 6,918,000, which were adjusted to HKD 6,079,000 upon the adoption of HKFRS 16[18] - Non-recurring listing expenses for the nine months ended September 30, 2018, amounted to approximately HKD 9,137,000[43] - The company has not granted any share options under the share option scheme adopted on September 13, 2018[56] - No arrangements were made for directors to acquire shares or bonds of the company or its subsidiaries during the nine months ended September 30, 2019[57] - The company did not purchase, sell, or redeem any of its listed securities during the nine months ended September 30, 2019[58] - The company will upgrade its software, computer, and network systems to ensure high performance[38] - The company has established a large database of job seekers since 2009, which is expected to support its growth strategy[39]
高奥士国际(08042) - 2019 Q3 - 季度财报