中国海洋发展(08047) - 2019 Q3 - 季度财报

Report Summary Summary Financial performance for the nine months ended December 31, 2018, shows decreased revenue but increased profit and equity holders' profit; no dividend recommended. Key Financial Indicators for the Nine Months Ended December 31, 2018 | Metric | 2018 (HKD) | 2017 (HKD) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Revenue | 778,853,000 | 823,932,000 | -5.5% | | Profit | 28,804,000 | 24,094,000 | +19.5% | | Profit Attributable to Equity Holders of the Company | 24,739,000 | 22,217,000 | +11.3% | | Basic Earnings Per Share | 0.67 Cents | 0.87 Cents | -23.0% | - The Board does not recommend the payment of any dividend (2017: nil)[4] Financial Results Condensed Consolidated Statement of Comprehensive Income Unaudited consolidated statements of comprehensive income for the nine and three months ended December 31, 2018, detail key financial data. Key Financial Performance for the Nine Months Ended December 31, 2018 | Metric | 2018 (HKD Thousand) | 2017 (HKD Thousand) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Revenue | 778,853 | 823,932 | -5.5% | | Cost of Services Provided and Goods Sold | (712,158) | (778,307) | -8.5% | | Gross Profit | 66,695 | 45,625 | +46.2% | | Other Income | 21,932 | 9,160 | +139.4% | | Administrative Expenses | (36,876) | (21,707) | +69.9% | | Profit Before Tax | 30,315 | 31,285 | -3.1% | | Income Tax Expense | (1,511) | (7,191) | -79.0% | | Profit for the Period | 28,804 | 24,094 | +19.5% | | Profit Attributable to Equity Holders of the Company | 24,739 | 22,217 | +11.3% | | Profit Attributable to Non-controlling Interests | 4,065 | 1,877 | +116.6% | Key Financial Performance for the Three Months Ended December 31, 2018 | Metric | 2018 (HKD Thousand) | 2017 (HKD Thousand) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Revenue | 231,202 | 418,337 | -44.8% | | Gross Profit | 17,668 | 20,034 | -11.8% | | Profit Before Tax | 15,232 | 13,902 | +9.6% | | Profit for the Period | 14,401 | 10,578 | +36.1% | | Profit Attributable to Equity Holders of the Company | 14,903 | 8,701 | +71.3% | - Total Comprehensive (Loss) / Income for the Period was HKD (42,780) Thousand, while the 2017 period was HKD 26,149 Thousand, primarily due to Exchange Differences on Consolidation (71,584) Thousand[14][15] Earnings Per Share This section details basic and diluted earnings per share for the nine and three months ended December 31, 2018, including convertible bond impact. Earnings Per Share (Nine Months Ended December 31) | Metric | 2018 | 2017 | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Basic EPS | HKD 0.67 Cents | HKD 0.87 Cents | -23.0% | | Diluted EPS | HKD 0.66 Cents | HKD 0.75 Cents | -12.0% | Earnings Per Share (Three Months Ended December 31) | Metric | 2018 | 2017 | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Basic EPS | HKD 0.37 Cents | HKD 0.30 Cents | +23.3% | | Diluted EPS | HKD 0.37 Cents | HKD 0.30 Cents | +23.3% | - Diluted earnings calculation for 2018 nine months adjusted for convertible bond interest (net of tax), with no such adjustment in the 2017 corresponding period[38] Notes to Financial Statements 1. Company Information This section outlines the company's registration, listing, registered office, principal place of business, and primary business activities. - The Company was incorporated in Bermuda as an exempted company on June 7, 2001, with shares listed on GEM of the Hong Kong Stock Exchange[26] - Main businesses: investment holding, with subsidiaries primarily engaged in supply chain management services, money lending, and marine fishing[26] 2. Compliance Statement This section explains that the unaudited condensed consolidated financial information is prepared based on GEM Listing Rules and reviewed by the Audit Committee, but not audited. - Financial information prepared according to GEM Listing Rules, unaudited but reviewed by the Company's Audit Committee[27] - Accounting policies consistent with audited consolidated financial statements for the year ended March 31, 2018[27] 3. Revenue and Other Income This section details the Group's revenue composition for the reporting period, including supply chain management services, goods sales from marine fishing, and interest income from customer loans. Revenue Composition (Nine Months Ended December 31) | Business Type | 2018 (HKD Thousand) | 2017 (HKD Thousand) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Supply Chain Management Services | 735,076 | 803,831 | -8.6% | | Marine Fishing Business | 42,297 | 6,928 | +510.5% | | Interest Income from Loans to Customers | 1,480 | 13,173 | -88.8% | | Total Revenue | 778,853 | 823,932 | -5.5% | - Marine fishing business revenue grew significantly, while supply chain management services and money lending interest income decreased[29] 4. Other Income This section provides a breakdown of the Group's other income for the reporting period, including interest income from other loans, government grants, and miscellaneous income. Other Income (Nine Months Ended December 31) | Income Type | 2018 (HKD Thousand) | 2017 (HKD Thousand) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Interest Income from Other Loans | 9,720 | 2,160 | +350.0% | | Government Grants Income | 6,559 | 6,295 | +4.2% | | Miscellaneous Income | 5,653 | 705 | +701.8% | | Total Other Income | 21,932 | 9,160 | +139.4% | - Interest income from other loans and miscellaneous income increased significantly, driving a substantial rise in total other income[31] 5. Income Tax Expense This section details the Group's income tax expense for the reporting period, including Hong Kong Profits Tax and PRC Enterprise Income Tax, along with applicable tax rates. Income Tax Expense (Nine Months Ended December 31) | Tax Type | 2018 (HKD Thousand) | 2017 (HKD Thousand) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Hong Kong Profits Tax | 500 | 1,541 | -67.5% | | PRC Enterprise Income Tax | 1,011 | 5,650 | -82.1% | | Tax Deducted for the Period | 1,511 | 7,191 | -79.0% | - Hong Kong Profits Tax is provisioned at a rate of 16.5%, and PRC Enterprise Income Tax is calculated at the applicable tax rate[32][33] 7. Dividends The Board