Revenue and Profitability - The group recorded revenue of HKD 0.5 million from travel packages, with a gross profit of HKD 0.5 million for the three months ended June 30, 2021, compared to HKD 1.3 million in revenue and a gross profit of HKD 0.8 million in the same period of 2020[10]. - For the three months ended June 30, 2021, the company's revenue was HKD 536,000, a decrease of 59.9% compared to HKD 1,333,000 for the same period in 2020[37]. - The gross profit for the same period was HKD 500,000, down 35.9% from HKD 781,000 year-on-year[37]. - The group’s travel-related products and services generated minimal revenue and gross profit during the reporting period due to travel restrictions[9]. - The gross profit from travel packages was primarily derived from government-subsidized local tours and the recognition of expired member points as revenue[11]. Losses and Financial Performance - The total loss and comprehensive loss for the three months ended June 30, 2021, decreased by 86.0% to approximately HKD 0.9 million, attributed to various factors including cost control[17]. - The group reported a total loss of HKD 851,000 for the three months ended June 30, 2021, compared to a loss of HKD 6,079,000 for the same period in 2020, indicating a significant improvement[50]. - The net loss for the period was HKD 851,000, compared to a net loss of HKD 6,079,000 for the same period in 2020, indicating a reduction in losses[37]. - Operating loss for the three months ended June 30, 2021, was HKD 749,000, significantly improved from a loss of HKD 5,977,000 in the previous year[37]. - The group incurred a reported loss of HKD 3,079,000 from its operating segments for the three months ended June 30, 2021, compared to a loss of HKD 4,326,000 in the same period of 2020[50]. Cost Management and Expenses - The group implemented cost-saving measures, including director salary reductions and encouraging employees to take unpaid leave, to mitigate losses during the pandemic[9]. - Sales expenses decreased by 18.1% to approximately HKD 0.4 million for the three months ended June 30, 2021, primarily due to reduced credit card fees and advertising expenses[15]. - Administrative expenses decreased by 23.2% to approximately HKD 3.9 million for the three months ended June 30, 2021, primarily due to reduced depreciation and other cost-saving measures[16]. - Total expenses for the three months ended June 30, 2021, were HKD 4,292,000, down from HKD 6,062,000 in the same period of 2020, reflecting a reduction of approximately 29.3%[54]. - Sales and administrative expenses combined decreased by approximately HKD 1.3 million during the reporting period[18]. Strategic Initiatives and Future Outlook - The group continues to focus on travel technology investments and related services despite the challenges posed by the pandemic[8]. - The group aims to expand its offerings in travel-related products and services, particularly focusing on Japan as a key destination[8]. - The company established a joint venture on July 19, 2021, to engage in cryptocurrency mining and related services, aiming to expand its business scope and enhance future profitability[17]. - The company entered into a joint venture agreement to acquire a 80% stake in a cryptocurrency mining business, with a total registered capital of HKD 3.0 million, indicating a strategic move into the blockchain technology sector[67]. - The company is closely monitoring the COVID-19 pandemic's impact on its operations and financial performance, which is expected to remain challenging in the upcoming quarters[17]. Shareholder and Governance Information - Major shareholders, including Chen Shuwai and Yuan Shiqiang, each hold 64% of the company's shares through a controlled corporation[19]. - The company has no other disclosures regarding interests or positions held by directors or key executives in the company's shares as of June 30, 2021[22]. - The board of directors confirmed the accuracy and completeness of the financial report, ensuring no misleading information was presented[2]. - The company has complied with all the provisions of the corporate governance code during the three months ended June 30, 2021[27]. - There were no share options granted, exercised, lapsed, or cancelled under the share option scheme from the adoption date to June 30, 2021[31]. Other Financial Metrics - The company recognized rental concessions of approximately HKD 0.4 million as negative variable lease payments[18]. - The company recognized a rental concession of HKD 353,000 related to COVID-19 for the three months ended June 30, 2021, which was not present in the same period of 2020[52]. - The company reported a gain of approximately HKD 0.7 million from the sale of shares in Gad Holdings Limited[18]. - The fair value of the investment in Gad Holdings Limited changed from a loss of approximately HKD 1.3 million in the same period last year to a gain of approximately HKD 2.0 million for the three months ended June 30, 2021[18]. - The company recognized a fair value gain of approximately HKD 2.0 million related to the acceptance of a cash offer for 34,130,000 shares of a listed company, which will be reclassified in the profit and loss statement for the three months ending September 30, 2021[66].
飞道旅游科技(08069) - 2022 Q1 - 季度财报