Financial Performance - The Company reported a loss attributable to owners of approximately HK$1,683,000 for the nine months ended 30 September 2021, compared to a loss of approximately HK$17,785,000 in the same period last year[3]. - Revenue from continuing operations was approximately HK$127,495,000 for the nine months, representing an increase of approximately HK$35,515,000 from approximately HK$91,980,000 last year[3]. - Gross profit from continuing operations for the period was approximately HK$84,727,000, compared to approximately HK$59,666,000 in the same period last year[3]. - Loss before tax for the nine months was approximately HK$964,000, compared to a loss of HK$14,316,000 in the previous year[8]. - For the nine months ended September 30, 2021, the total loss was HK$2,055,000, a significant improvement from HK$18,071,000 in the previous year, indicating a reduction of 88.6%[10]. - The total comprehensive expense for the period attributable to owners of the company was HK$389,000 for the three months ended September 30, 2021, compared to HK$1,219,000 in the same period of 2020, reflecting a decrease of 68.1%[12]. - The company reported a total comprehensive expense of HK$1,460,000 for the nine months ended September 30, 2021, down from HK$18,780,000 in the previous year, marking a decrease of 92.2%[12]. - The loss per share for the nine months ended September 30, 2021, was HK$0.50, consistent with the previous year's loss per share of HK$7.16, indicating a significant reduction in losses[12]. - The loss for the period attributable to owners of the Company for the three months ended September 30, 2021 was HK$687,000, an improvement from a loss of HK$1,029,000 in the same period of 2020, indicating a reduction of approximately 33.3%[60]. - For the nine months ended September 30, 2021, the loss attributable to owners of the Company was HK$1,683,000, significantly improved from a loss of HK$17,785,000 in the same period of 2020, reflecting a reduction of approximately 90.5%[60]. Revenue and Business Segments - Total revenue for the nine months included HK$112,537,000 from the food and beverage business, up from HK$71,819,000 last year[8]. - Food and beverage business revenue for the nine months ended September 30, 2021, was HK$112,537,000, up from HK$71,819,000 in 2020, representing a growth of 56.7%[19]. - Revenue from the distribution of alcoholic beverages and miscellaneous business was approximately HK$1,109,000, compared to HK$8,868,000 in the same period last year[103]. - Revenue from external customers of China Demeter Securities Limited amounted to approximately HK$9,162,000, significantly up from HK$3,241,000 in the previous year[112]. - The company is engaged in various businesses including alcoholic beverage distribution, food and beverage, money lending, and financial services, which may impact future performance and strategic direction[13]. Expenses and Costs - General and administrative expenses for the nine months were approximately HK$98,769,000, compared to HK$75,451,000 last year[8]. - Loan interest income for the nine months was HK$1,586,000, down from HK$4,929,000 in the previous year[8]. - The Group's bank interest income for the nine months ended September 30, 2021, was HK$19,000, down from HK$79,000 in 2020[21]. - Interest on lease liabilities for the three months ended 30 September 2021 was HK$801,000, a decrease of 14.2% from HK$934,000 in the same period of 2020[29]. - Interest on other borrowings for the three months ended 30 September 2021 was HK$109,000, a decrease of 39.7% compared to HK$181,000 in the same period of 2020[29]. Government Grants and Other Income - The Group received government grants totaling HK$3,539,000 for the nine months ended September 30, 2021, compared to HK$9,792,000 in the same period of 2020[22]. - Consultancy and referral fee income increased to HK$1,700,000 for the nine months ended September 30, 2021, from HK$450,000 in 2020, marking a rise of 277.8%[21]. - The Group reported a net foreign exchange gain of HK$243,000 for the nine months ended September 30, 2021, compared to a loss of HK$320,000 in 2020[21]. Discontinued Operations - The company experienced a loss from discontinued operations of HK$2,843,000 for the nine months ended September 30, 2020, which was not present in the current reporting period[9]. - Loss on disposal from discontinued operations for the period was HK$2,400,000, contributing to the overall loss reported[53]. - The loss for the period from discontinued operations attributable to owners of the Company was HK$2,799,000, which was included in the consolidated statement of profit or loss[55]. - The company completed the disposal of its agricultural business on 22 April 2020 for a total consideration of HK$1,152,000[44]. Strategic Initiatives and Future Outlook - The Company continues to focus on improving operational efficiency and reducing losses in its ongoing business segments[60]. - The Group expects pressure on profit in the next quarter due to rising costs and challenges in the local economy[111]. - The Group plans to proactively identify opportunities for opening and managing new restaurants in Hong Kong, considering recent changes in vacancy rates of shopping centers[123]. - The Group aims to develop underwriting and placing activities through various channels and focus on promoting margin financing business[124]. - The Group will review its business strategies carefully and conservatively to cope with the ever-changing economic situation[124]. Share Capital and Rights Issue - The rights issue proposal aims to raise not less than approximately HK$45.9 million by issuing not less than 459,088,545 rights shares at a subscription price of HK$0.10 per share[146]. - The rights issue was fully underwritten by Trinity Worldwide Capital Holding Limited[146]. - The Rights Issue was completed on July 29, 2021, raising approximately HK$45.9 million before expenses, with net proceeds of approximately HK$43.5 million after deducting relevant expenses[148]. - Approximately HK$9.0 million of the net proceeds will be allocated to capital expenditure for expanding the Group's food and beverage business segment[148]. - As of September 30, 2021, the total number of share options available for issue under the Share Option Scheme was 15,302,951 shares, representing approximately 2.50% of the issued shares of the Group[187]. Compliance and Governance - The audit committee of the Board reviewed the unaudited results, ensuring compliance with GEM Listing Rules[5]. - The Company has not assumed the exercise of potential ordinary shares under the share options scheme for the period ended 30 September 2021 due to their anti-dilutive effect[70]. - No significant transactions or contracts involving directors or connected entities existed during the period[195].
国农金融投资(08120) - 2021 Q3 - 季度财报