Workflow
中国海洋发展(08047) - 2020 Q1 - 季度财报
CHINA OCEAN GPCHINA OCEAN GP(HK:08047)2019-08-14 12:35

Financial Performance - The group's revenue for the three months ended June 30, 2019, was approximately HKD 159,388,000, a decrease of 53.5% compared to HKD 342,384,000 for the same period in 2018[3] - The group's profit for the period was approximately HKD 4,211,000, down 37.4% from HKD 6,738,000 in the previous year[3] - The profit attributable to equity holders of the company was approximately HKD 5,085,000, compared to HKD 7,234,000 in 2018, representing a decline of 29.6%[3] - Basic earnings per share for the period were approximately HKD 0.12 cents, down from HKD 0.22 cents in the same period last year[3] - The total comprehensive income for the period was HKD 6,391,000, compared to HKD 17, indicating a significant decline[5] - The company's net profit attributable to shareholders for the period was approximately HKD 5,085,000, a decrease from HKD 7,234,000 in the same period last year, representing a decline of about 29.6%[29] - Total revenue for the period decreased to approximately HKD 159,388,000, compared to HKD 342,384,000 in the same period last year, indicating a decline of approximately 53.5%[27] - The gross profit for the period was approximately HKD 18,032,000, down from HKD 21,919,000 in the same period last year, reflecting a decrease of about 17.5%[27] Revenue Breakdown - Revenue from supply chain management services was HKD 153,919,000, a decrease of 54.4% from HKD 337,690,000 in 2018[13] - Revenue from marine fishing business increased to HKD 5,429,000, up 54.5% from HKD 3,513,000 in the previous year[13] Expenses and Tax - The group incurred a tax expense of HKD 822,000 for the period, compared to HKD 4,650,000 in the previous year[15] - Administrative expenses decreased slightly from HKD 14,000,000 in the previous year to approximately HKD 12,000,000, as the company plans to expand its operations in Mozambique and Cambodia[29] - The group has a total employee cost of approximately HKD 3,700,000 for the period, compared to approximately HKD 3,300,000 in the previous year, reflecting an increase of about 12.1%[37] Assets and Liabilities - The company’s total assets as of June 30, 2019, were approximately HKD 1,678,091,000, a slight decrease from HKD 1,693,051,000 as of March 31, 2019[30] - The company’s bank borrowings amounted to approximately HKD 37,500,000 as of June 30, 2019, up from HKD 28,953,000 as of March 31, 2019[30] - The group has no contingent liabilities as of June 30, 2019[36] Dividends - The company did not declare any dividends for the period, consistent with the previous year[3] - The company did not recommend any dividend payment for the period, consistent with the previous year[22] Corporate Governance - The company has adopted a set of guidelines for directors' securities trading, ensuring compliance with GEM Listing Rules standards throughout the reporting period[57] - The audit committee, consisting of three independent non-executive directors, is responsible for reviewing and supervising the group's financial reporting procedures and internal controls[59] - The company has implemented the corporate governance code as per GEM Listing Rules, with ongoing reviews of its governance structure for potential adjustments[58] - The roles of the chairman and CEO are currently held by the same individual, Liu Rongsheng, which the board believes provides strong and consistent leadership for long-term business planning[58] - The company has confirmed that its directors and major shareholders do not hold any interests in competing businesses during the reporting period[54] Strategic Initiatives - The company is expanding its seafood supply chain management services and has established strategic partnerships to enhance its operations in import and export trade, logistics, and storage[25] - The group is actively seeking investment and business opportunities to expand revenue sources and enhance shareholder value, particularly in the deep-sea fishing business[34] Employment - As of June 30, 2019, the group employed 160 staff members, an increase from 148 in the previous year, representing an increase of 8.1%[37] Financial Instruments - The group has no foreign exchange contracts or financial derivatives for hedging purposes as of June 30, 2019[31] - The group has no significant foreign exchange risk due to its treasury policy of holding bank deposits primarily in HKD or local currencies[31] - The group has not granted any stock options since the adoption of the stock option plan in October 2011[46] - The group has not made any significant investments, acquisitions, or disposals of subsidiaries during the period[35] - The group has not purchased, redeemed, or sold any of its listed securities during the period[52]