Financial Performance - The revenue from continuing operations for the Group was approximately HK$36,089,000, representing an increase of approximately HK$13,728,000 compared to HK$22,361,000 in the same period last year[4]. - Gross profit from continuing operations for the period was approximately HK$23,594,000, compared to HK$15,825,000 in the same period last year[4]. - The loss for the period from continuing operations was HK$1,047,000, a significant improvement from a loss of HK$11,032,000 in the same period last year[10]. - Total comprehensive expense for the period amounted to HK$700,000, compared to HK$11,211,000 in the same period last year[10]. - Other income for the period was approximately HK$3,988,000, compared to HK$1,238,000 in the same period last year[10]. - The cost of sales and services for the period was HK$12,495,000, compared to HK$6,536,000 in the same period last year[10]. - The fair value loss on financial assets through profit or loss was HK$561,000, compared to HK$4,626,000 in the same period last year[10]. - The company reported a loss of HK$1,024,000 for the three months ended March 31, 2021, compared to a loss of HK$10,756,000 in the same period of 2020, indicating a significant improvement[12]. - Basic loss per share for the period was HK$0.67, compared to HK$6.79 in the same period last year, indicating a substantial reduction in loss per share[12]. - The total comprehensive income for the period showed a significant reduction in expenses, improving overall financial health[79]. Revenue Breakdown - The Group's total revenue included HK$30,944,000 from food and beverage business, HK$766,000 from loan interest income, HK$1,238,000 from provision of children education services, and HK$3,127,000 from provision of financial services[8]. - Revenue from the food and beverage business increased to HK$30,944,000 in Q1 2021, up from HK$18,268,000 in Q1 2020, representing a growth of approximately 69%[27]. - Loan interest income decreased to HK$766,000 in Q1 2021 from HK$2,115,000 in Q1 2020, reflecting a decline of about 64%[27]. - The provision of financial services generated approximately HK$3,127,000 in revenue, compared to HK$746,000 in the same period of 2020[90]. - Revenue from the provision of children education services amounted to approximately HK$1,238,000, an increase from HK$1,019,000 year-on-year, representing a growth of 21%[112]. Operational Changes - The company decided to temporarily suspend its agricultural business operations in February 2020 due to unsatisfactory financial performance, significantly impacted by the outbreak of swine fever and COVID-19, leading to a decrease in demand for feedstock products[48]. - The company completed the disposal of its agricultural business on April 22, 2020, ceasing to hold any equity interest in the Tony China Group, which previously contributed to its operations[55]. - All restaurants held by the joint venture in Singapore ceased operations due to the COVID-19 pandemic, significantly impacting revenue[128]. - The company aims to maintain and increase market presence in Asia through partnerships with exclusive brewery partners from Europe[93]. - The company plans to optimize its restaurant portfolio through consolidation and expansion to maintain overall competitiveness[132]. Financial Strategy and Risks - The Group plans to maintain or downsize the scale of its money lending business to reduce credit risk during uncertain times[110]. - The operating environment is expected to remain challenging due to ongoing tensions between the US and China and the COVID-19 pandemic, prompting the company to adopt a flexible and prudent operational approach[132]. - The Board expects the performance of the securities investment business to contribute positive returns for the Group in the near future[124]. - The management team will continuously assess various factors affecting the company's financial performance[133]. Governance and Compliance - The Company aims to comply with all provisions of the Corporate Governance Code and will regularly review its practices[168]. - The Audit Committee consists of three independent non-executive Directors[170]. - The report will remain on the GEM website for a minimum period of seven days from the date of publication[170]. - The Company has made specific inquiries to all Directors regarding compliance with the required standards of dealings[168].
国农金融投资(08120) - 2021 Q1 - 季度财报