Financial Performance - Revenue for the three months ended March 31, 2019, amounted to approximately HK$18.0 million, representing a decrease of approximately 48.3% compared to HK$34.8 million in the same period of 2018[11]. - The net loss for the period was approximately HK$12.3 million, a significant decline from a net profit of approximately HK$0.9 million in the corresponding period of last year[11]. - Basic and diluted loss per share was approximately HK1.04 cents, compared to earnings of approximately HK0.13 cents per share in 2018[11]. - Gross profit for the period was approximately HK$3.9 million, down from HK$9.1 million in the same period of 2018[12]. - Operating loss for the period was approximately HK$11.5 million, compared to an operating profit of HK$0.9 million in the previous year[12]. - Total comprehensive loss for the period attributable to owners of the Company was approximately HK$8.5 million, compared to a comprehensive income of HK$1.1 million in 2018[12]. - Other income and net gains for the period were approximately HK$0.7 million, down from HK$5.1 million in the same period of 2018[12]. - The total comprehensive loss for the period ended March 31, 2019, was HK$8,506,000, compared to a total comprehensive income of HK$1,086,000 for the same period in 2018[13]. - Revenue decreased by approximately HK$16.8 million or 48.3% from approximately HK$34.8 million for the period ended 31 March 2018 to approximately HK$18.0 million for the Reporting Period[54]. - Revenue from the provision of construction services was approximately HK$16.2 million, representing a decrease of approximately 28.6% compared to approximately HK$22.7 million for PE18[58]. - Gross profit decreased by HK$5.2 million from approximately HK$9.1 million for PE18 to approximately HK$3.9 million for the Reporting Period, representing a decrease of approximately 57.1%[67]. - The Group's gross profit margin decreased from 26.2% in PE18 to 21.6% in the Reporting Period[68]. Dividend and Shareholder Information - The Board does not recommend the payment of a dividend for the three months ended March 31, 2019, consistent with the previous year where no dividend was paid[11]. - The Group did not recommend any dividend payment for the three months ended March 31, 2019, consistent with the previous year[30]. - The company did not recommend the payment of a dividend to owners for the three months ended March 31, 2019, consistent with the previous year[92]. - As of March 31, 2019, Zhu Zhou held 269,000,000 shares, representing approximately 26.62% of the total shareholding[79]. - Huang Cheng held 188,620,000 shares, representing approximately 18.66% of the total shareholding, while Zhou Jin held 144,500,000 shares, representing approximately 14.30%[84]. Expenses and Costs - Administrative and other operating expenses increased to approximately HK$16.2 million from HK$13.4 million in the previous year[12]. - Finance costs for the period were approximately HK$0.75 million, which was not present in the same period of the previous year[12]. - The Group's general and administrative expenses increased by approximately HK$2.8 million from approximately HK$13.4 million for PE18 to approximately HK$16.2 million for the Reporting Period[69]. - General and administrative expenses increased by approximately HKD 2,800,000 to about HKD 16,200,000 during the reporting period, mainly due to an increase in impairment losses on trade receivables by HKD 2,100,000 and research expenses for prefabricated construction by HKD 400,000[73]. Business Operations - The construction business generated HK$16,249,000 in revenue, down 28.5% from HK$22,690,000 in the previous year[25]. - The Group's prefabricated precast construction components had outstanding contracts worth approximately HK$3.9 million, expected to be completed before the second quarter of 2019[43]. - The Group decided to suspend the clean coal trading business as it was operating at a loss, with no revenue generated during the Reporting Period compared to HK$11.6 million for PE18[61]. - The Group is formulating a strategy to extend the Agriculture Business to green food production, anticipating a continued rise in demand for green food[47]. - The Group's construction services include concrete demolition and prefabricated precast construction, which is expected to grow in line with China's green building initiatives[37][43]. Compliance and Governance - The company complied with the applicable code provisions of the Corporate Governance Code, except for the separation of roles between the chairman and CEO, which were held by the same individual during the reporting period[90]. - All directors confirmed compliance with the required standards of dealings regarding securities transactions during the reporting period[91]. - There were no competing interests reported by the directors during the reporting period[85]. - The company has complied with the applicable provisions of the GEM Listing Rules regarding corporate governance, except for the deviation in the separation of roles between the Chairman and CEO[93]. - The Audit Committee has reviewed the unaudited consolidated financial statements of the Group for the reporting period[104]. - The Audit Committee consists of three members: Mr. Chan Kam Wah (chairman), Mr. Cao Hongmin, and Mr. Liu Yingjie[102][103]. - The company has confirmed that all directors have adhered to the securities trading code during the reporting period[94]. Changes in Management - Ms. Zhou Jin was appointed as an executive director on April 12, 2019[100]. - Mr. Chan Kam Wah resigned as an executive director of another company on April 18, 2019[100].
朝威控股(08059) - 2019 Q1 - 季度财报