Financial Performance - The group's revenue for the nine months ended December 31, 2020, was approximately HKD 39.5 million, a decrease of about 41.8% compared to the same period in 2019[5]. - The profit for the nine months ended December 31, 2020, was approximately HKD 2.5 million, while there was a loss of approximately HKD 13.9 million in the same period of 2019[5]. - The revenue for the three months ended December 31, 2020, was HKD 14.459 million, down from HKD 21.827 million in 2019, representing a decline of approximately 33.5%[6]. - The group reported a pre-tax profit of HKD 2.645 million for the nine months ended December 31, 2020, compared to a pre-tax loss of HKD 13.092 million in the same period of 2019[6]. - The total comprehensive income for the nine months ended December 31, 2020, was HKD 2.510 million, compared to a total comprehensive loss of HKD 13.838 million in 2019[8]. - Revenue for the nine months ended December 31, 2020, was HKD 39,506,000, a decrease of 41.9% compared to HKD 67,890,000 for the same period in 2019[18]. - Revenue from Hong Kong restaurant operations was HKD 35,878,000, down 34.4% from HKD 54,720,000 in the previous year[18]. - Revenue from China restaurant operations was HKD 1,163,000, a significant decline from HKD 8,996,000 in the same period last year[18]. - The company recorded a profit of approximately HKD 2.5 million for the nine months ended December 31, 2020, compared to a loss of approximately HKD 13.9 million in the same period of 2019, mainly due to effective cost control measures and government subsidies[47]. Cost Management - The cost of goods sold for the nine months ended December 31, 2020, was HKD 8.791 million, compared to HKD 15.267 million in 2019, reflecting a decrease of about 42.5%[6]. - Total employee costs for the nine months ended December 31, 2020, were HKD 16,550,000, a decrease of 38.2% from HKD 26,731,000 in 2019[24]. - Interest expenses on lease liabilities for the nine months ended December 31, 2020, were HKD 737,000, down 42.7% from HKD 1,290,000 in 2019[23]. - Employee costs decreased by approximately 38.1% from about HKD 26.7 million to about HKD 16.6 million, with employee costs representing about 41.9% of revenue in 2020 compared to 39.4% in 2019[38]. - Rental and related expenses decreased by approximately 16.1% from about HKD 3.3 million to about HKD 2.7 million, mainly due to reduced contingent rent payments[39]. - Depreciation and amortization expenses decreased by approximately 55.3% from about HKD 11.5 million to about HKD 6.1 million, attributed to impairment losses recognized on certain assets[41]. - Other expenses decreased by approximately 34.0% from about HKD 16.3 million to about HKD 10.8 million, driven by revenue decline and cost control measures[42]. Government Support - Government subsidies received amounted to HKD 7,299,000 for the nine months ended December 31, 2020, compared to none in 2019[22]. - Other income increased by approximately HKD 9.9 million, primarily due to government subsidies of about HKD 7.3 million and rent concessions of about HKD 2.3 million received during the pandemic[36]. - Income tax expenses decreased by approximately 84.4% from about HKD 0.9 million for the nine months ended December 31, 2019, to about HKD 0.1 million for the same period in 2020, primarily due to profits from tax-exempt government subsidies[46]. Corporate Governance - The company has adhered to the corporate governance code as per GEM Listing Rules during the nine months ended December 31, 2020[62]. - The audit committee, consisting of independent non-executive directors, reviewed the financial reporting processes and internal controls for the nine months ended December 31, 2020[64]. - All directors confirmed compliance with the trading standards and code of conduct for securities transactions during the nine months ended December 31, 2020[59]. Business Operations - The company operates Japanese ramen restaurants primarily in Hong Kong[10]. - The group operated nine ramen restaurants in Hong Kong as of December 31, 2020[32]. - The company closed a loss-making restaurant in China during the nine months ended December 31, 2020, to reduce losses and better allocate resources to its local business in Hong Kong[50]. - The company launched a new product, "Black King Cup" (chilled ramen), and offered free delivery for orders above a certain amount to enhance customer convenience during the pandemic[50]. - The company opened a new store in Nanchang in August 2020 and introduced an electronic ordering system to minimize social contact during the pandemic[50]. - The company is actively seeking potential business opportunities and partnerships to expand revenue sources and improve shareholder returns[51]. - The company has entered into a trademark licensing agreement to grant the "豚王" brand to Shanghai Ying for operating ramen restaurants in Shanghai, with a one-time patent fee and monthly consulting fees based on the number of restaurants[29]. Shareholder Information - As of December 31, 2020, the major shareholders, including Mr. Tang Zhenhao and Mr. Tang Qingzhi, collectively held 341,250,000 shares, representing 68.25% of the company's issued share capital[52]. - As of December 31, 2020, there were no major shareholders or individuals required to disclose interests under the Securities and Futures Ordinance[56]. - No shares were purchased, sold, or redeemed by the company or its subsidiaries during the nine months ended December 31, 2020[57]. - No business competition or conflicts of interest were reported involving directors or major shareholders during the nine months ended December 31, 2020[58]. - No stock options were granted, exercised, expired, or lapsed under the stock option plan during the nine months ended December 31, 2020[60].
赏之味(08096) - 2021 Q3 - 季度财报