Financial Performance - The Group recorded a turnover of approximately HK$189.6 million for the nine months ended 30 September 2021, representing a decrease of approximately HK$100.2 million (or approximately 34.6%) compared to the same period last year[8]. - The gross profit margin of the Group slightly decreased to approximately 8.0% for the nine months ended 30 September 2021, down from approximately 8.8% for the same period in 2020[8]. - The Group recorded a net profit attributable to the owners of the Company of approximately HK$1.0 million for the nine months ended 30 September 2021, a decrease of approximately HK$6.8 million (or approximately 87.6%) compared to the same period last year[9]. - Revenue for the three months ended 30 September 2021 was approximately HK$66.98 million, compared to HK$113.31 million for the same period in 2020, representing a decrease of approximately 41.0%[13]. - The Group's gross profit for the nine months ended 30 September 2021 was approximately HK$15.1 million, down from HK$25.4 million for the same period in 2020[13]. - Profit before income tax for the nine months ended 30 September 2021 was approximately HK$1.13 million, down from HK$10.11 million for the same period in 2020[13]. - For the three months ended September 30, 2021, the total comprehensive income was HK$ (487,000), a decrease from HK$ 4,849,000 in the same period of 2020[15]. - Profit for the period attributable to owners of the Company was HK$ 583,000, down from HK$ 2,506,000 in the same period of 2020[15]. - Basic and diluted earnings per share attributable to owners of the Company was 2.49 HK cents, compared to 10.69 HK cents for the same period in 2020[15]. - For the nine months ended September 30, 2021, total comprehensive income was HK$ 921,000, compared to HK$ 9,778,000 for the same period in 2020[15]. Revenue Breakdown - Revenue from external customers for the nine months ended September 30, 2021, was HK$189,554, a decrease from HK$289,794 in the same period of 2020, representing a decline of 34.5%[31]. - Revenue from sales and distribution of IT products accounted for approximately 98.5% of the Group's total revenue, with sales declining due to technological advancements leading to a decrease in quantity and price of third-party IT products[90]. - Revenue from repairs and service support increased from approximately HK$0.2 million to approximately HK$2.9 million, primarily due to expanded service support for electronic products beyond video surveillance products[91]. - The Group's revenue from sales and distribution of IT products was approximately HK$186.7 million for the nine months ended 30 September 2021, down from HK$289.6 million in the same period last year[87]. - The Group's repair and service support revenue was approximately HK$2.9 million for the nine months ended 30 September 2021, compared to HK$0.2 million in the previous year[89]. Expenses and Costs - Administrative expenses and research and development expenditures for the nine months ended 30 September 2021 totaled approximately HK$10.67 million, compared to HK$13.14 million for the same period in 2020[13]. - The cost of sales decreased by approximately 34.0% to approximately HK$174.5 million for the nine months ended September 30, 2021, compared to HK$264.4 million for the same period in 2020[97]. - Selling and distribution expenses decreased by approximately 6.7% to approximately HK$4.7 million for the nine months ended September 30, 2021[104]. - Administrative expenses decreased by approximately 18.8% to approximately HK$10.7 million for the nine months ended September 30, 2021[105]. - Total finance costs for the nine months ended September 30, 2021, were HK$1,375, compared to HK$29 in the same period of 2020[31]. Taxation and Other Income - The Group's income tax credit for the nine months ended September 30, 2021 was approximately HK$166, compared to an expense of HK$2.35 million for the same period in 2020[13]. - The Group's other income for the nine months ended September 30, 2021 was approximately HK$2.06 million, down from HK$3.26 million for the same period in 2020[13]. - The company recognized government subsidies of approximately HK$648,000 for the nine months ended September 30, 2020, but no subsidies were recognized for the same period in 2021[52]. Shareholder Information - Foxconn (Far East) Limited holds 11,853,524 shares, representing approximately 50.58% of the issued share capital of the Company as of 30 September 2021[125]. - The Company did not redeem any of its listed securities during the nine months ended September 30, 2021, nor did it purchase or sell any of its listed securities during this period[127]. - None of the Directors or chief executives had any interests or short positions in the shares of the Company as of 30 September 2021[119]. - The Company had no substantial shareholders other than those disclosed as of 30 September 2021[125]. Business Strategy and Market Conditions - The Group aims to improve inventory turnover days and mitigate inventory risk to shorten the cash conversion cycle[80]. - The Group is focusing on sustainable and stable lines of business in light of lessons learned from supply constraints due to the COVID-19 pandemic[81]. - The competitive landscape for video surveillance systems remains intense, with the Group competing directly and indirectly with large global vendors[76]. - The Group's major supplier introduced proprietary silicon technology, which has significantly impacted the pricing of refurbished and end-of-life products, contributing to revenue decline[74]. - The Group plans to diversify its business portfolio, particularly in the repairs and service support segment, which is expected to have significant growth potential[111]. Current Assets and Liabilities - As of 30 September 2021, the Group had net current assets of approximately HK$124.3 million, an increase from HK$122.2 million as of 31 December 2020[113]. - The gearing ratio increased to 47.7% as of 30 September 2021, up from 33.7% as of 31 December 2020, primarily due to an increase in accounts payable[115]. - Trade payables and inventory levels were comparatively higher than the same period last year due to delivery delays[118].
讯智海(08051) - 2021 Q3 - 季度财报