Financial Performance - The Group recorded a turnover of approximately HK$72.1 million for the three months ended March 31, 2021, representing a decrease of approximately 1.1% compared to HK$72.9 million for the same period last year[6]. - Profit attributable to the owners of the Company was approximately HK$0.02 million for the three months ended March 31, 2021, a decrease of approximately 88.9% from HK$0.9 million in the same period last year[6]. - Gross profit for the period was approximately HK$4.6 million, down from HK$6.2 million in the same period last year, indicating a decline in gross margin from the distribution of third-party IT products[10]. - Earnings per share attributable to owners of the Company was HK$0.08 cents, a significant decrease from HK$3.67 cents in the same period last year[11]. - Operating loss for the period was HK$182,000, compared to a profit of HK$859,000 for the same period in 2020[38]. - The Group recorded a net profit of approximately HK$0.02 million for the three months ended March 31, 2021, down from approximately HK$0.9 million in the same period of 2020[83]. Revenue Breakdown - Revenue from sales and distribution of IT products was HK$71,963,000, a decrease of 1.2% from HK$72,805,000 in the same period of 2020[27]. - Revenue from repairs and service support increased significantly to HK$108,000 from HK$72,000 in the same period of 2020, representing a 50% increase[27]. - Revenue from external customers for the three months ended March 31, 2021, was HK$72,071,000, a slight decrease from HK$72,805,000 in the same period of 2020[35]. - The Hong Kong market contributed approximately 55.2% of the Group's revenue for the three months ended March 31, 2021, up from 20.1% in the same period of 2020[73]. Expenses and Costs - The Group's administrative expenses were approximately HK$3.7 million for the three months ended March 31, 2021, compared to HK$4.3 million in the same period last year, showing a reduction[10]. - Other income for the period was approximately HK$0.62 million, down from HK$0.77 million in the same period last year[10]. - The Group's finance costs were approximately HK$0.20 million for the three months ended March 31, 2021, compared to HK$0.25 million in the same period last year[10]. - The cost of sales increased slightly to approximately HK$67.5 million for the three months ended March 31, 2021, compared to HK$66.6 million for the same period in 2020[77]. Comprehensive Income - Total comprehensive income for the period was approximately HK$0.75 million, compared to HK$0.72 million for the same period last year, reflecting a slight increase[11]. - Total comprehensive income for the period ended March 31, 2021, was HK$750,000, compared to HK$721,000 for the same period in 2020, reflecting a growth of 4.0%[27]. - Exchange differences on translation of foreign operations resulted in other comprehensive income of approximately HK$0.73 million for the period, compared to a loss of HK$0.14 million in the same period last year[11]. Dividends and Shareholder Information - The Board does not recommend the payment of an interim dividend for the three months ended March 31, 2021, consistent with the previous year[6]. - The company did not recommend the payment of a dividend for the three months ended March 31, 2021, consistent with the previous year[59]. - Foxconn (Far East) Limited holds 50.58% of the issued share capital of the Company, indicating significant ownership by Hon Hai Precision Industry Co., Ltd.[96]. - The Company had not redeemed any shares during the three months ended March 31, 2021, nor had it purchased or sold any of its shares during this period[108]. Business Strategy and Future Plans - The Group plans to diversify its business portfolio and expand its repair and service support segment, which is expected to have significant growth potential[85]. - The Group is applying for various business licenses and ISO certifications for new repair centers, which were delayed due to COVID-19[85]. - Management will closely monitor the IT product distribution business and may adjust the Group's business portfolio to increase the customer base and generate better returns[86]. - The Group anticipates potential fundraising activities to support operational capital expenditures for business development[85]. Financial Position - As of March 31, 2021, the accumulated losses stood at HK$57,433,000, slightly increased from HK$57,451,000 at the beginning of the year[13]. - The Group's net current assets as of March 31, 2021, were approximately HK$122.7 million, an increase from HK$111.7 million on March 31, 2020[90]. - Cash and cash equivalents amounted to approximately HK$110.9 million as of March 31, 2021, compared to HK$83.2 million as of March 31, 2020[90]. - The gearing ratio increased to 40.1% as of March 31, 2021, up from 27.8% on March 31, 2020, primarily due to an increase in trade payables[90]. - The Group has no outstanding borrowings as of March 31, 2021[90]. Compliance and Governance - The unaudited condensed consolidated financial information is prepared in accordance with Hong Kong Financial Reporting Standards and GEM Listing Rules[19]. - The company has maintained the same accounting policies as those applied in the preparation of the Group's annual financial statements for the year ended December 31, 2020[23]. - The Audit Committee reviewed the unaudited condensed consolidated financial information for the three months ended March 31, 2021[112]. - The report was issued on May 12, 2021, by CircuTech International Holdings Limited[112]. - The executive Directors include Mr. Hong Sung-Tai, Ms. Chen Ching-Hsuan, Mr. Han Chun-Wei, and Mr. Tsai Biing-Hann[112]. Market Conditions - The demand for refurbished and obsolete products slightly decreased to a medium-high level during the reporting period[58]. - The management will closely monitor the impacts of COVID-19 on the financial position and operating results of the Group[87]. - There were no interests or short positions in shares reported by Directors or chief executives of the Company as of March 31, 2021[106].
讯智海(08051) - 2021 Q1 - 季度财报