Financial Performance - Revenue for the nine months ended 30 September 2021 amounted to approximately HK$76.4 million, representing an increase of approximately 39.4% compared to HK$54.8 million for the same period in 2020[12]. - Net loss for the nine months ended 30 September 2021 was approximately HK$6.5 million, a decrease of HK$5.8 million from the net loss of approximately HK$12.3 million for the corresponding period in 2020[12]. - Basic and diluted loss per share for the nine months ended 30 September 2021 was approximately HK0.71 cents, improved from approximately HK1.08 cents for the same period in 2020[12]. - Gross profit for the nine months ended 30 September 2021 was approximately HK$22.2 million, compared to HK$16.0 million for the same period in 2020[14]. - Operating loss for the nine months ended 30 September 2021 was approximately HK$2.1 million, significantly improved from an operating loss of approximately HK$8.7 million for the same period in 2020[14]. - Total comprehensive loss for the period attributable to owners of the Company was approximately HK$6.6 million, compared to HK$10.9 million for the same period in 2020[16]. - The comprehensive loss for the nine months ended September 30, 2021, was HK$6,278,000, compared to a loss of HK$12,015,000 for the same period in 2020, indicating an improvement of approximately 47.8%[19]. - The retained earnings as of September 30, 2021, were negative at HK$254,993,000, reflecting an increase in accumulated losses from HK$247,842,000 at the beginning of the year[19]. - The total comprehensive loss for the period includes a loss of HK$7,151,000 attributed to other reserves[19]. Revenue Breakdown - For the nine months ended September 30, 2021, the Group's revenue from concrete demolition services was HK$43,644,000, a decrease of 4.6% from HK$45,758,000 in 2020[38]. - Revenue from the manufacturing and trading of prefabricated construction components increased significantly to HK$32,761,000 in 2021 from HK$9,032,000 in 2020, representing a growth of 262.5%[38]. - Total revenue for the nine months ended September 30, 2021, was HK$76,405,000, compared to HK$54,790,000 in 2020, marking an increase of 39.5%[38]. - Revenue from prefabricated construction increased by HK$23.8 million from HK$9.0 million for PE2020 to HK$32.8 million for the Reporting Period[72]. - Revenue from concrete demolition services decreased by HK$2.2 million from HK$45.8 million for PE2020 to HK$43.6 million for the Reporting Period[70]. Expenses and Costs - Administrative and other operating expenses for the nine months ended September 30, 2021 were approximately HK$27.1 million, a decrease from HK$29.9 million for the same period in 2020[14]. - Staff costs, including directors' remuneration, rose to HK$23,660,000 in 2021 from HK$22,638,000 in 2020, an increase of 4.5%[41]. - Depreciation of property, plant, and equipment decreased to HK$3,226,000 in 2021 from HK$5,103,000 in 2020, a reduction of 36.7%[41]. - Finance costs for the nine months ended 30 September 2021 were approximately HK$4.4 million, an increase from HK$3.5 million for the same period in 2020[14]. - Other income and net gains for the nine months ended 30 September 2021 were approximately HK$2.9 million, down from HK$5.2 million for the same period in 2020[14]. Dividend and Shareholder Information - The Board does not recommend the payment of dividend for the nine months ended 30 September 2021, consistent with the previous year[12]. - The Group did not recommend any dividend for the nine months ended September 30, 2021, consistent with the previous year[46]. - The company did not recommend the payment of an interim dividend for the reporting period, consistent with the previous year[105]. - Huang Cheng is a substantial shareholder with 188,620,000 shares, representing approximately 18.66% of the total shareholding[93]. - Zhu Zhou is a substantial shareholder with 129,000,000 shares, representing approximately 12.76% of the total shareholding[93]. Corporate Governance and Compliance - The company established an audit committee to review financial reporting processes and internal control systems[112]. - The company complied with the applicable code provisions of the Corporate Governance Code, with some deviations explained[100]. - The Audit Committee was established on August 2, 2014, to review and monitor the financial reporting process and internal control systems of the group[114]. - The Audit Committee consists of three members, including Mr. Li Jiafei as the chairman[114]. - All directors confirmed compliance with the required standards of dealings regarding securities transactions during the reporting period[104]. Company Background and Operations - The Group's registered office is located in the Cayman Islands, and it is engaged in providing concrete demolition services and manufacturing and trading prefabricated construction components[22]. - The company was incorporated on April 25, 2014, and its shares have been listed on the GEM of The Stock Exchange of Hong Kong Limited since August 15, 2014[21]. - The Group's operations are focused on investment holding, concrete demolition services, and prefabricated construction components manufacturing and trading[53]. - The Group's concrete demolition services cater to both public and private sector projects, with revenue from private sector projects at HK$35,686,000 and public sector projects at HK$7,958,000 for the nine months ended September 30, 2021[60]. - The Group's concrete demolition services are essential for various construction activities, including alterations, redevelopment projects, and civil engineering works in Hong Kong[54]. Accounting Policies and Standards - The financial statements for the nine months ended September 30, 2021, have been prepared in accordance with Hong Kong Financial Reporting Standards (HKFRSs) and have not been audited but reviewed by the audit committee[26]. - The Group's accounting policies and basis of preparation for the financial statements are consistent with those adopted in the annual financial statements for the year ended December 31, 2020[25]. - The company has not applied any new and amendments to HKFRS that have been issued but not yet effective for the current accounting period[30]. - The Group has applied amendments to HKFRS related to interest rate benchmark reform and Covid-19-related rent concessions, which had no material impact on its financial positions and performance[29]. Market and Strategic Outlook - The Group established production facilities in Huizhou, PRC, to support prefabricated construction projects in the Greater Bay area[65]. - The Group is exploring opportunities in overseas markets, particularly in countries along the Belt and Road, but projects have been delayed due to Covid-19[65]. - The Group remains vigilant against potential disruptions in the property and construction sector in China due to recent debt crises among property developers[73].
朝威控股(08059) - 2021 Q3 - 季度财报