Financial Performance - For the three months ended June 30, 2020, the group recorded revenue of approximately HKD 24,800,000, a decrease of about 65.6% compared to HKD 72,000,000 for the same period in 2019[8]. - The loss attributable to owners of the company for the three months ended June 30, 2020, was approximately HKD 27,400,000, compared to a loss of HKD 30,300,000 for the same period in 2019[8]. - The group reported a gross loss of HKD 34,560,000 before tax for the three months ended June 30, 2020, compared to a loss of HKD 32,937,000 for the same period in 2019[10]. - The total comprehensive loss for the period was HKD (31,500,000), compared to HKD (42,443,000) for the same period in 2019[13]. - The basic loss per share for the three months ended June 30, 2020, was HKD (0.53), compared to HKD (0.58) for the same period in 2019[12]. - The company reported a loss before tax of HKD 34,560,000, compared to a loss of HKD 32,937,000 in the same quarter of 2019[30]. - The loss for the period was approximately HKD 32.6 million, a reduction of about 5.2% from HKD 34.4 million in 2019, with attributable loss to owners of the company being approximately HKD 27.4 million[65]. Revenue Breakdown - The group’s revenue from alcoholic beverage sales was HKD 10,488,000 for the three months ended June 30, 2020, down from HKD 22,344,000 in the same period of 2019[10]. - Revenue from the alcohol beverage sales segment was HKD 10,488,000, down 53.1% from HKD 22,344,000 in the previous year[23]. - Loan referral service revenue decreased to HKD 1,702,000 from HKD 2,592,000, representing a decline of 34.4%[23]. - Auction revenue was HKD 1,430,000, down 41.6% from HKD 2,454,000 in the same quarter of 2019[23]. - Total contract revenue recognized at a point in time was HKD 13,620,000, a decrease of 51.0% from HKD 27,791,000 in the prior year[25]. - The financial services segment generated no revenue from securities and futures trading services, compared to HKD 401,000 in the same period last year[23]. - Interest income from real estate mortgage loans and other loans in the loan financing segment totaled HKD 8,698,000, down from HKD 11,399,000, a decline of 23.9%[23]. - Blockchain services revenue was not reported for the current period, compared to HKD 18,537,000 in the previous year[23]. - Loan financing services revenue was HKD 12,926,000, a decline of 50.7% from HKD 26,187,000 in the previous year[30]. Dividends and Shareholder Returns - The company did not recommend the payment of any dividends for the three months ended June 30, 2020, consistent with the previous year[8]. - The company did not declare any dividends for the period ended June 30, 2020[43]. Operational Costs and Expenses - The group incurred operational costs of HKD 8,753,000 for alcoholic beverages for the three months ended June 30, 2020, compared to HKD 18,711,000 in the same period of 2019[10]. - The total employee costs amounted to HKD 14,287,000, a decrease of 25.0% from HKD 19,067,000 in the same period last year[42]. - The company incurred financing costs of HKD 11,588,000, down 20.2% from HKD 14,534,000 in the same quarter of 2019[36]. - Administrative and other operating expenses decreased by approximately 67.8% to HKD 5.6 million, and depreciation expenses decreased by approximately 80.8% to HKD 3.4 million compared to the same period in 2019[65]. - The company reported a significant impairment loss of HKD 16,052,000 on receivables and interest, compared to HKD 4,693,000 in the previous year[42]. Corporate Governance and Compliance - The financial report was prepared in accordance with Hong Kong Financial Reporting Standards and reflects the company's ongoing commitment to transparency[20]. - The audit committee reviewed the unaudited consolidated results for the three months ended June 30, 2020, and found them to comply with applicable accounting standards and legal requirements[100]. - The company has established high standards of corporate governance to protect shareholder interests and enhance corporate value[97]. - The company has adopted a code of conduct for securities transactions by directors, confirming compliance with the standards set forth in the GEM Listing Rules[96]. - There were no directors or their associates holding any interests in businesses that directly or indirectly compete with the group as of June 30, 2020[93]. - The company has not deviated from the corporate governance code provisions, except for the roles of chairman and CEO being held by the same individual during a specified period[97]. - The company confirmed that no directors had any interests in competing businesses as of June 30, 2020[93]. Future Outlook and Strategy - The company is focused on improving its financial performance and exploring new strategies for market expansion and product development[8]. - The business outlook remains highly uncertain due to ongoing US-China trade tensions and the global impact of COVID-19, with the company focusing on existing operations and seeking suitable investment opportunities[69]. - The company will evaluate potential acquisitions for their intrinsic value to enhance shareholder value[69]. - The company continues to focus on expanding its alcohol beverage sales and financial services despite the significant revenue decline[18]. Share Options and Equity - As of June 30, 2020, the number of unexercised share options granted under the plan was 781,900,000 shares, representing about 15.1% of the total issued shares[53]. - The company approved a resolution on July 31, 2020, to redefine the plan's authorization limit, allowing a maximum of 519,272,689 shares to be issued upon exercise of options[53]. - The weighted average exercise price of options granted in 2020 ranged from HKD 0.207 to HKD 0.325, compared to HKD 1.89 in 2019[54]. - The company recognized share-based payment expenses of approximately HKD 4.41 million for the three months ended June 30, 2020, compared to HKD 294,000 in 2019[55]. - The expected volatility for the options granted in 2020 was between 59.126% and 59.774%, down from 75.216% in 2019[54]. - The company has a total of 160,000,000 stock options granted at an exercise price of HKD 0.80, which can be exercised from June 17, 2016, to December 16, 2025[88]. - The company has a total of 184,600,000 stock options granted at an exercise price of HKD 1.89, which can be exercised from January 1, 2019, to April 2, 2028[88]. - The company confirmed total expenses related to stock options granted amounted to approximately HKD 4,410,000 for the three months ended June 30, 2020, compared to HKD 294,000 for the same period in 2019[91].
麦迪森控股(08057) - 2021 Q1 - 季度财报