Financial Performance - The Company reported a loss attributable to owners of approximately HK$16,912,000 for the nine months ended 30 September 2020, compared to a loss of approximately HK$37,370,000 in the same period last year[9]. - Revenue from continuing operations was approximately HK$91,980,000 for the period, representing an increase of approximately HK$32,450,000 compared to approximately HK$59,530,000 in the same period last year[9]. - Gross profit from continuing operations for the period was approximately HK$59,666,000, compared to approximately HK$42,658,000 in the same period last year[9]. - Total revenue for the three months ended September 30, 2020, was HK$32,871,000, representing a 50.9% increase from HK$21,777,000 in the same period of 2019[14]. - Gross profit for the three months ended September 30, 2020, was HK$20,739,000, up 27.5% from HK$16,282,000 in the prior year[14]. - Loss before tax for the three months ended September 30, 2020, was HK$611,000, a significant improvement compared to a loss of HK$13,596,000 in the same period of 2019[14]. - Total comprehensive expense for the period was HK$1,219,000, a reduction from HK$15,092,000 in the same period of 2019[17]. - Loss for the period from discontinued operations was HK$1,220,000, compared to a loss of HK$14,278,000 in the same period of 2019[17]. - For the three months ended September 30, 2020, the loss attributable to owners of the Company from continuing operations was HK$1,029,000, a significant improvement compared to a loss of HK$13,182,000 in the same period of 2019[18]. - For the nine months ended September 30, 2020, the total loss attributable to owners of the Company was HK$16,912,000, down from HK$37,370,000 in the previous year, indicating a reduction of approximately 54.8%[18]. Dividend and Shareholder Information - The Board of Directors does not recommend the payment of any interim dividend for the nine months ended 30 September 2020, consistent with the previous year where no dividend was paid[9]. - The loss per share for the three months ended September 30, 2020, was HK$0.67, a substantial decrease from HK$9.01 in the same quarter of 2019[21]. - The loss per share for the nine months ended September 30, 2020, was HK$11.05, compared to HK$24.42 for the same period in 2019, reflecting a decrease of approximately 54.7%[21]. - The total comprehensive expense for the three months ended September 30, 2020, was HK$1,029,000, down from HK$14,553,000 in 2019[18]. - The total comprehensive expense for the nine months ended September 30, 2020, was HK$17,584,000, compared to HK$38,065,000 in the previous year, indicating a reduction of approximately 53.8%[18]. - No interim dividend was recommended for the nine months ended September 30, 2020, consistent with the previous year where no dividend was paid[89]. Business Operations and Segments - The Company operates in the GEM market, which is designed for small and mid-sized companies, indicating a higher investment risk compared to other companies listed on the Stock Exchange[2]. - The Group is engaged in various businesses including alcoholic beverage distribution, food and beverage, money lending, and financial services, which may impact future revenue streams[24]. - The food and beverage business generated revenue of HK$25,145,000 for the three months ended September 30, 2020, compared to HK$18,429,000 in 2019, marking a 36.5% increase[14]. - The financial services segment reported revenue of HK$1,776,000 for the three months ended September 30, 2020, compared to HK$453,000 in 2019, reflecting a substantial increase[14]. - Revenue from the food and beverage business reached approximately HK$71,819,000, compared to HK$44,127,000 in the same period of 2019[124]. - Revenue from the alcoholic beverage distribution and miscellaneous business was approximately HK$8,868,000, up from HK$3,304,000 in the same period of 2019[128]. - The money lending business generated interest income of approximately HK$4,929,000, down from HK$6,867,000 in the previous year[139]. - Revenue from children education services was approximately HK$3,039,000, a decrease from HK$3,637,000 in the previous year[142]. Financial Position and Liabilities - The total accumulated losses as of September 30, 2020, were HK$254,724,000, reflecting an increase from HK$248,524,000 in the previous year[99]. - The company experienced an impairment loss of loan and interest receivables of HK$4,310,000 for the nine months ended September 30, 2020, compared to HK$6,188,000 in 2019[41]. - The company recorded a loss on disposal of HK$(2,052,000) for the nine months ended September 30, 2020, compared to no loss reported in 2019[75]. - The total liabilities associated with the agricultural business included trade and other payables of HK$31,000[69]. Compliance and Governance - The report includes particulars given in compliance with the GEM Listing Rules of The Stock Exchange of Hong Kong Limited[5]. - The financial statements for the nine months ended September 30, 2020, are unaudited but have been reviewed by the Audit Committee, ensuring a level of oversight[31]. - The Company confirms that the information contained in the report is accurate and complete in all material respects[4]. Market Conditions and Future Outlook - The Group anticipates that the financial and economic situation due to the COVID-19 pandemic may negatively impact borrowers' financial positions and repayment abilities[140]. - The Group plans to optimize educational programs and invest in online learning to retain existing students amid potential class suspensions[144]. - The Group remains optimistic about the development potential of the Hong Kong market and aims to improve operational efficiency and strengthen revenue[169]. - The management expects the impact of the ongoing situation to continue into the year 2020[132]. - The Board expects positive returns from the securities investment business in the near future and will monitor performance closely to mitigate potential financial risks[156]. Acquisitions and Disposals - The company completed the disposal of its agricultural business on April 22, 2020, for a total consideration of HK$1,152,000[60]. - Following the disposal, the financial results of the Tony China Group will no longer be consolidated into the company's results, and the company has ceased its agricultural business[174]. - The acquisition of Wala Wala Limited was completed for a cash consideration of HK$2,300,000, with identifiable net liabilities of HK$551,000 at the time of acquisition[122].
国农金融投资(08120) - 2020 Q3 - 季度财报