Financial Performance - The group's revenue for the nine months ended December 31, 2019, was approximately HKD 78,200,000, a decrease of about 52.63% compared to HKD 165,100,000 for the same period in 2018[4] - The loss attributable to the owners of the company for the nine months ended December 31, 2019, was approximately HKD 34,400,000, compared to a loss of HKD 9,000,000 for the same period in 2018[4] - The gross profit for the three months ended December 31, 2019, was HKD 15,593,000, down from HKD 20,844,000 for the same period in 2018[6] - The operating loss for the nine months ended December 31, 2019, was HKD 34,230,000, compared to an operating loss of HKD 8,571,000 for the same period in 2018[6] - The net loss for the three months ended December 31, 2019, was HKD 30,225,000, compared to a loss of HKD 2,044,000 for the same period in 2018[6] - The total comprehensive loss for the nine months ended December 31, 2019, was HKD 34,628,000, compared to HKD 18,419,000 for the same period in 2018[6] - The basic and diluted loss per share for the nine months ended December 31, 2019, was HKD 15.72 cents, compared to HKD 4.12 cents for the same period in 2018[6] - Total revenue for the nine months ended December 31, 2019, was HKD 36,970,000, a decrease from HKD 42,841,000 for the same period in 2018, representing a decline of approximately 13.0%[28] - Revenue from retail and wholesale grocery sales was HKD 44,760,000 for the nine months ended December 31, 2019, compared to HKD 122,214,000 in 2018, indicating a decrease of about 63.3%[28] - The company reported a loss attributable to owners of the company of HKD 34,404,000 for the nine months ended December 31, 2019, compared to a loss of HKD 9,008,000 in the same period of 2018, reflecting a significant increase in losses[32] - Revenue from lending activities was HKD 12,146,000 for the nine months ended December 31, 2019, down from HKD 36,970,000 in 2018, a decrease of approximately 67.0%[28] - Revenue from foreign exchange losses was HKD (5,000) for the nine months ended December 31, 2019, compared to HKD (43,000) in 2018, indicating a slight improvement in losses[28] Dividend Policy - The company does not recommend the distribution of dividends for the nine months ended December 31, 2019, consistent with the previous year[4] - The company did not recommend any dividend payment for the nine months ended December 31, 2019, consistent with the previous year[31] Accounting Policies - The company has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2019, which have no significant impact on the financial performance and position for the current and prior periods[14] - The application of HKFRS 16 has resulted in changes to accounting policies, replacing HKAS 17 and related interpretations[16] - The company recognizes right-of-use assets at the commencement date of leases, measured at cost less accumulated depreciation and impairment losses[19] - The cost of right-of-use assets includes the initial measurement amount of lease liabilities and any lease payments made before the commencement date[20] - Lease liabilities are measured at the present value of unpaid lease payments at the lease commencement date, using the incremental borrowing rate if the implicit rate is not readily determinable[23] - Lease payments include fixed payments, variable lease payments based on indices or rates, and expected payments under residual value guarantees[24] - The company will account for lease modifications as a separate lease if it expands the scope of the lease by adding the right to use one or more underlying assets[26] Business Operations - The company primarily engages in lending, retail, and wholesale businesses[11] - The lending business generated revenue of approximately HKD 37 million during the nine-month period, with expectations for sustainable income in the future[49] - The retail and wholesale business generated revenue of approximately HKD 41.2 million for the nine-month period, a decrease of 66.28% compared to the same period in 2018[50] - The company plans to streamline its wholesale business due to intense competition and increased sales and management costs[50] - The company has been developing its own brand products since 2015, including various food items to meet changing customer demands[47] - The company has established a broad sales network through partnerships with major restaurant companies for its dining coupon distribution business[47] - The company aims to manage its business segments conservatively to reduce market risks and enhance returns for shareholders[57] - The company operates three retail stores located in Wan Chai, Lai Chi Kok, and Tai Po, along with an online grocery sales business[50] Corporate Governance - The company has adopted the GEM Listing Rules for trading standards and confirmed compliance by all directors during the nine-month period[65] - The company has established a Compensation Committee consisting of three independent non-executive directors and two executive directors to review and formulate compensation policies based on operational performance and market practices[69] - A Nomination Committee has been formed with three independent non-executive directors and two executive directors to review and recommend any proposed changes or nominations to the board[71] - The company has implemented written guidelines for employees regarding securities trading to ensure compliance with insider trading regulations[72] Acquisitions - The company acquired 100% equity of a subsidiary for HKD 2,000,000 during the nine months ended December 31, 2019[36] - The identifiable net assets acquired from the subsidiary amounted to HKD 1,934,000, resulting in goodwill of HKD 66,000[37] - The estimated fair value of share options granted to employees was approximately HKD 1,436,000 for the nine months ended December 31, 2019, compared to none in the same period of 2018[41] Taxation - The company has no tax provisions for Hong Kong profits tax for the nine months ended December 31, 2019, as there were no assessable profits[30]
仍志集团控股(08079) - 2020 Q3 - 季度财报