Financial Performance - The company reported revenue of HKD 9,952,000 for the three months ended March 31, 2021, compared to HKD 3,959,000 for the same period in 2020, representing an increase of 151%[7] - Gross profit for the same period was HKD 3,408,000, up from HKD 1,377,000 in 2020, indicating a growth of 147%[7] - The company incurred a loss before tax of HKD 8,226,000 for the three months ended March 31, 2021, compared to a loss of HKD 7,482,000 in the previous year, reflecting an increase in losses of 10%[7] - The total comprehensive loss for the period was HKD 8,425,000, compared to HKD 8,076,000 in 2020, which is an increase of 4.3%[9] - The company reported a loss attributable to owners of the company of HKD 7,964,000 for the period, compared to HKD 7,374,000 in the previous year, marking a 8% increase in losses[7] - The company reported a loss of approximately HKD 8,372,000 for the period, compared to a loss of approximately HKD 7,482,000 for the same period last year[30] Assets and Cash Flow - The company’s total assets as of March 31, 2021, were HKD 61,355,000, compared to HKD 90,077,000 at the beginning of the year, indicating a decrease of 31.9%[11] - The company’s cash and cash equivalents decreased to HKD 7,051,000 from HKD 82,230,000, a decline of 91.4%[11] - Total assets as of March 31, 2021, amounted to HKD 122,094,000, with segment assets of HKD 72,838,000 in media and entertainment and HKD 26,023,000 in cremation and funeral services[17] Expenses - Sales, marketing, and distribution expenses for the period were approximately HKD 963,000, a decrease of 22.28% from HKD 1,239,000 in the same period last year, representing about 9.68% of total revenue[29] - General, administrative, and other expenses for the period were approximately HKD 10,772,000, an increase of 32.33% from HKD 8,140,000 in the same period last year[29] - As of March 31, 2021, the total employee cost, including director remuneration, was approximately HKD 3,443,000, compared to HKD 3,365,000 for the same period last year[37] Dividends - The company did not declare any dividends for the period, consistent with the previous year[7] - The company did not recommend the payment of any dividends for the three months ended March 31, 2021[23] Business Segments - The media and entertainment segment generated revenue of HKD 6,280,000, while the cremation and funeral services segment generated revenue of HKD 3,672,000, totaling HKD 9,952,000[17] - The media and entertainment segment recorded revenue of approximately HKD 6,280,000 for the three months ended March 31, 2021, an increase of 388.72% compared to approximately HKD 1,285,000 in the same period last year, primarily due to ticket revenue from exhibitions organized during the period[31] - The cremation and funeral services business generated revenue of approximately HKD 3,672,000 for the three months ended March 31, 2021, representing a 37.32% increase from approximately HKD 2,674,000 in the same period last year, attributed to a recovery from the decline in value-added funeral service revenue due to COVID-19 restrictions[33] Strategic Initiatives - The company is exploring opportunities for market expansion and new product development to enhance future performance[7] - The company is committed to improving operational efficiency and reducing costs in response to the challenging market conditions[7] - The company is developing an integrated entertainment platform named "Bookyay," which combines online streaming content, ticketing systems, consumer products, and membership systems into a unified lifestyle platform[34] - The company has launched a new NFT production studio, "Sunny Side Up," focusing on creating unique digital assets and investing in the NFT market, with a notable collaboration for an NFT art series with artists from Hong Kong and Taiwan[35] - The company plans to expand its funeral services to include pet funeral services, enhancing its funeral business portfolio[36] - The company is exploring strategic alliances and investment opportunities to enrich its investment portfolio and expand revenue sources[36] Shareholder Information - The company’s major shareholders include Mr. Tang Choi Chi, holding 287,549,682 shares, representing 22.99% of the issued share capital[40] - Major shareholders include Mr. Tang with 287,549,682 shares (22.99% of issued share capital) and Mr. Zhou with 431,346,823 shares (34.49% of issued share capital) as of March 31, 2021[50] - New Brilliant Investments Limited, wholly owned by Mr. Xu, holds 98,472,498 shares (7.87% of issued share capital) as of March 31, 2021[50] - The total number of shares held by major shareholders amounts to 718,896,505, representing 57.48% of the issued share capital[50] Corporate Governance - The company has complied with the corporate governance code as per GEM Listing Rules during the three months ending March 31, 2021[58] - The audit committee consists of three independent non-executive directors, ensuring financial control and risk management oversight[61] - The board includes two executive directors and three independent non-executive directors[63] - The company has established written guidelines for directors' securities trading, confirming compliance with regulations[52] - The company has adopted a share incentive plan to recognize and reward contributions from eligible individuals towards its growth and development[46] Reporting and Compliance - The company did not recognize any significant deferred tax liabilities during the reporting period[22] - The company did not adopt any new or revised Hong Kong Financial Reporting Standards that would have a significant impact on the financial statements[14] - No purchases, sales, or redemptions of the company's listed securities occurred during the three months ending March 31, 2021[57] - The group reviewed the unaudited performance for the three months ended March 31, 2021[63] - The report will be published on the GEM website and the company's website for at least 7 days from the date of publication[63]
擎华控股(08082) - 2021 Q1 - 季度财报