Financial Performance - For the three months ended September 30, 2020, the company reported revenue of HKD 15,326,000, a decrease of 65.1% compared to HKD 43,976,000 in the same period of 2019[7] - The gross profit for the three months ended September 30, 2020, was HKD 3,937,000, compared to a gross loss of HKD 7,452,000 in the same period of 2019[7] - The company recorded a loss before tax of HKD 4,512,000 for the three months ended September 30, 2020, significantly improved from a loss of HKD 28,950,000 in the same period of 2019[7] - The net loss for the nine months ended September 30, 2020, was HKD 17,911,000, compared to a net loss of HKD 40,055,000 for the same period in 2019, indicating a 55.3% reduction in losses[7] - The basic and diluted loss per share for the three months ended September 30, 2020, was HKD 0.4, compared to HKD 2.4 for the same period in 2019[7] - The total comprehensive loss for the three months ended September 30, 2020, was HKD 3,606,000, compared to HKD 29,226,000 in the same period of 2019[10] - Total revenue for the nine months ended September 30, 2020, was approximately HKD 21,406,000, a decrease of 77.03% compared to HKD 93,173,000 in the same period last year[26] - The loss for the nine months ended September 30, 2020, was approximately HKD 17,911,000, a reduction from a loss of HKD 40,055,000 in the same period last year[30] Segment Performance - For the nine months ended September 30, 2020, total revenue from the media and entertainment segment was HKD 13,453,000, while the cremation and funeral services segment generated HKD 7,953,000, totaling HKD 21,406,000[16] - The adjusted loss before tax for the media and entertainment segment was HKD (11,040,000), and for the cremation and funeral services segment, it was HKD 722, resulting in a total adjusted loss before tax of HKD (17,791,000)[16] - Media and entertainment business revenue was HKD 13,453,000, down 84.16% from HKD 84,908,000 year-on-year, primarily due to the impact of COVID-19[31] - Cremation and funeral services revenue was approximately HKD 7,953,000, consistent with HKD 8,265,000 in the previous year[32] - Revenue from cremation and funeral services and related products for the nine months ended September 30, 2020, was HKD 3,812,000, down from HKD 4,090,000 in 2019[18] Operational Efficiency and Strategy - The company is focusing on improving operational efficiency and exploring new market opportunities to enhance future performance[7] - The company anticipates that the COVID-19 pandemic will have a short-term impact on the regional entertainment sector and is taking measures to improve operational efficiency and maintain cash flow[33] - The company plans to focus on high-quality entertainment projects with strong track records and explore strategic alliances and investment opportunities to expand revenue sources[33] - The management remains cautious about market conditions and is closely monitoring developments to adjust strategies accordingly[7] Corporate Governance - The company confirmed that all directors complied with the securities trading regulations during the nine months ending September 30, 2020[52] - The company did not participate in any arrangements for directors to profit from acquiring shares or convertible bonds during the nine months ending September 30, 2020[56] - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the nine months ending September 30, 2020[57] - The company adhered to all corporate governance codes as stipulated by the GEM listing rules during the nine months ending September 30, 2020[58] - The audit committee, composed of three independent non-executive directors, is responsible for reviewing the financial controls and risk management systems of the group[60] - The group reviewed the unaudited financial performance for the nine months ended September 30, 2020[61] - The board includes two executive directors and three independent non-executive directors[61] Shareholder Information - As of September 30, 2020, the company had a total of 431,346,823 shares held by a significant shareholder, representing 34.49% of the issued share capital[49] - Another significant shareholder held 287,549,682 shares, accounting for 22.99% of the issued share capital[49] - A third significant shareholder owned 718,896,505 shares, which is 57.48% of the issued share capital[49] - New Brilliant Investments Limited, fully owned by Mr. Xu, held 98,472,498 shares, representing 7.87% of the issued share capital[49] - Mr. Xu also held 1,800 shares directly, which is 0.00% of the issued share capital[49] Expenses - Sales, marketing, and distribution expenses were approximately HKD 3,326,000, down 71.15% from HKD 11,529,000 year-on-year, accounting for about 15.54% of revenue[27] - General and administrative expenses decreased by 37.82% to approximately HKD 22,734,000 from HKD 36,562,000 in the previous year[28] - As of September 30, 2020, the total employee cost was approximately HKD 8,877,000, slightly up from HKD 8,740,000 in the previous year[36] Capital Expenditures and Assets - Capital expenditures for the media and entertainment segment were HKD 42,000, while the cremation and funeral services segment incurred HKD 715,000, totaling HKD 757,000[16] - Total assets amounted to HKD 112,455,000, with segment assets of HKD 61,398,000 for media and entertainment and HKD 25,621,000 for cremation and funeral services[16] - Total liabilities were reported at HKD (37,825,000), with segment liabilities of HKD (23,512,000) for media and entertainment and HKD (6,716,000) for cremation and funeral services[16] Dividend Information - The company did not declare any dividends for the periods reported[7] - The company did not recommend any dividend payment for the nine months ended September 30, 2020, consistent with the previous year[21] Financial Reporting Standards - The company is currently evaluating the impact of new and revised Hong Kong Financial Reporting Standards but has not yet determined if they will significantly affect its operating performance and financial position[1] Publication of Report - The report will be published on the GEM website and the company's website for at least 7 days from the publication date[61]
擎华控股(08082) - 2020 Q3 - 季度财报