Financial Performance - For the three months ended September 30, 2021, the company's revenue was HKD 32,991,000, a 101.0% increase compared to HKD 16,374,000 for the same period in 2020[4] - For the nine months ended September 30, 2021, the total revenue reached HKD 73,759,000, representing a 50.4% increase from HKD 49,065,000 in the same period of 2020[4] - The profit before tax for the three months ended September 30, 2021, was HKD 9,803,000, compared to a loss of HKD 796,000 in the same period of 2020[4] - The net profit for the nine months ended September 30, 2021, was HKD 11,389,000, significantly up from HKD 604,000 in the same period of 2020[4] - Basic and diluted earnings per share for the three months ended September 30, 2021, were HKD 1.07, compared to a loss of HKD 0.09 in the same period of 2020[4] - The company reported a total comprehensive income of HKD 8,600,000 for the three months ended September 30, 2021, compared to a loss of HKD 660,000 in the same period of 2020[4] - The company's total comprehensive income for the nine months ended September 30, 2021, was HKD 11,425,000, compared to HKD 651,000 in the same period of 2020[5] - The net profit for the nine months ended September 30, 2021, was approximately HKD 11,425,000, a significant increase of approximately HKD 13,853,000 compared to a net loss of approximately HKD 2,428,000 in the same period of 2020[41] Revenue Breakdown - The revenue from recruitment services in Hong Kong for the three months ended September 30, 2021, was HKD 17,853,000, a 119.5% increase from HKD 8,125,000 in the same period of 2020[13] - The revenue from dispatch and payroll services in Hong Kong for the nine months ended September 30, 2021, was HKD 17,907,000, up from HKD 15,097,000 in the same period of 2020[13] - Revenue from recruitment services rose from approximately HKD 28,005,000 for the nine months ended September 30, 2020, to approximately HKD 40,866,000 for the same period in 2021, an increase of about 45.9%[24] - Revenue from dispatch and payroll outsourcing services in Hong Kong increased from approximately HKD 15,097,000 for the nine months ended September 30, 2020, to approximately HKD 17,907,000 for the same period in 2021, a growth of about 18.6%[25] - Revenue from the company's operations in China surged from approximately HKD 3,947,000 for the nine months ended September 30, 2020, to approximately HKD 12,628,000 for the same period in 2021, marking a significant increase of about 220%[27] - The group's revenue increased by approximately HKD 24,694,000 or 50.3% to approximately HKD 73,759,000 for the nine months ended September 30, 2021, compared to the same period in 2020[32] - Revenue from recruitment services rose by approximately HKD 21,542,000 or 67.4% to approximately HKD 53,494,000 for the nine months ended September 30, 2021, driven by the recovery of the Hong Kong recruitment market[32] - The group generated approximately HKD 12,628,000 in recruitment service revenue from China, an increase of approximately HKD 8,681,000 or 220% due to business expansion in the Chinese recruitment market[32] Equity and Shareholding - The company’s total equity as of September 30, 2021, was HKD 50,740,000, an increase from HKD 41,418,000 as of September 30, 2020[5] - As of September 30, 2021, the company’s directors and senior management collectively hold 600,000,000 shares, representing approximately 75% of the issued share capital[44] - KJE Limited and Caiden Holdings Limited each hold 600,000,000 shares, also accounting for approximately 75% of the issued share capital[48] - The shares held by KJE Limited are distributed among the directors, with each owning about 33.33%[46] Corporate Governance - The board of directors did not recommend the payment of an interim dividend for the nine months ended September 30, 2021[19] - The company has complied with the corporate governance code as per GEM Listing Rules, with the exception of one instance where an independent non-executive director was unable to attend the annual general meeting[56] - All directors confirmed compliance with the trading standards and the code of conduct for securities trading during the nine months ended September 30, 2021[57] - No interests were held by directors or major shareholders in any business that directly or indirectly competes with the company[55] - There were no disclosures of interests or short positions in shares, bonds, or related securities by directors or senior management other than those mentioned[48] Audit and Compliance - The Audit Committee was established on September 13, 2018, in accordance with GEM Listing Rule 5.28, consisting of three independent non-executive directors[59] - The Audit Committee's main responsibilities include reviewing financial statements and overseeing internal control procedures and risk management systems[59] - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the nine months ended September 30, 2021, and provided opinions and recommendations[59] Strategic Initiatives - The company plans to continue expanding its team, particularly in the Greater Bay Area, to capitalize on the economic growth in the region[21] - The company has established offices in Hong Kong, Shenzhen, and Guangzhou, aiming to become a leading HR service provider in both regions[21] - The group plans to focus on industries with recovery potential, such as e-commerce, logistics, education, and real estate, while maintaining a strong cash flow management strategy[31] - The group aims to enhance brand awareness through internal marketing teams and digital platforms, leveraging social media for greater public recognition[31] - The group will continue to invest in dedicated teams for financial services in Hong Kong and mainland China, closely monitoring performance and investment returns[31] - The group is committed to recruiting and developing quality talent essential for long-term organic growth strategies[31] Other Financial Information - Employee costs for the nine months ended September 30, 2021, were approximately HKD 48,004,000, representing 65.1% of revenue, a decrease from 81.7% in the same period of 2020[36] - Other income decreased to approximately HKD 305,000 for the nine months ended September 30, 2021, from approximately HKD 3,144,000 in the same period of 2020, as no government subsidies were received during the latter period[35] - No stock options have been granted, exercised, canceled, or lapsed since the adoption of the stock option plan on September 13, 2018, and there are no unexercised stock options as of September 30, 2021[51] - The company did not purchase, sell, or redeem any of its listed securities during the nine months ended September 30, 2021[54] - There were no arrangements made for directors to acquire shares or bonds of the company or its subsidiaries during the nine months ended September 30, 2021[52]
高奥士国际(08042) - 2021 Q3 - 季度财报