Financial Performance - Revenue for the first quarter of 2020 was HKD 383,068,000, a decrease of 26.5% compared to HKD 521,291,000 in the same period of 2019[6] - Other income for the first quarter of 2020 was HKD 7,835,000, down from HKD 11,978,000 in 2019, representing a decline of 34.5%[6] - The operating profit for the first quarter of 2020 was HKD 9,302,000, a decrease of 59.3% from HKD 22,842,000 in the previous year[6] - The net loss for the first quarter of 2020 was HKD 1,288,000, compared to a profit of HKD 6,088,000 in the same quarter of 2019[6] - The total comprehensive income for the first quarter of 2020 was a loss of HKD 14,616,000, compared to a gain of HKD 19,586,000 in 2019[9] - The basic and diluted loss per share for the first quarter of 2020 was HKD (0.27), down from HKD 1.28 in the same period of 2019[9] - The overall impact of COVID-19 significantly affected the company's revenue, operating profit, and net profit for the period[22] - The company reported a loss attributable to owners of HKD 1,288,000 for the three months ended March 31, 2020, compared to a profit of HKD 6,088,000 in the same period of 2019, primarily due to the impact of the COVID-19 outbreak[38] Revenue Breakdown - Automotive sales revenue was HKD 264,576,000, a decrease of 24.9% compared to HKD 352,330,000 in the same period of 2019[24] - Revenue from automotive services and parts sales decreased by 31.3% to HKD 109,508,000, primarily due to reduced service frequency caused by government policies in response to COVID-19[25] - Technical fee income fell by 55.6% to HKD 1,094,000, attributed to a significant reduction in vehicle sales by Xiamen Zhongbao due to COVID-19[27] Costs and Expenses - Employee benefit expenses were HKD 31,740,000, a decrease of 10.9% from HKD 35,634,000 in the same period of 2019[32] - Financial costs decreased from HKD 9,387,000 in 2019 to HKD 8,274,000 in 2020, primarily due to a reduction in average borrowings[37] - The financial costs for the first quarter of 2020 were HKD 8,274,000, a slight decrease from HKD 9,387,000 in the previous year[6] Foreign Exchange Impact - The company reported a foreign exchange loss of HKD 1,416,000 in the first quarter of 2020, compared to a gain of HKD 98,000 in 2019[6] - The company recorded a foreign exchange loss of HKD 1,416,000 compared to a gain of HKD 98,000 in the same period of 2019[34] Equity and Assets - The total equity attributable to owners as of March 31, 2020, was HKD 606,625,000, down from HKD 621,798,000 at the end of the previous year[11] - As of March 31, 2020, the company’s total assets were approximately HKD 1,523,122,000[55] - The company provided guarantees to Zhongbao Group amounting to HKD 100,648,000, representing 6.6% of its asset ratio as of March 31, 2020[56] Corporate Governance - The company has adopted a code of conduct for securities transactions that complies with GEM Listing Rules, and no violations were reported by the directors[58] - The company has complied with the corporate governance code as per GEM listing rules during the reporting period[59] - The audit committee, established on June 5, 2002, is responsible for reviewing the group's annual reports and financial statements[61] Dividend and Future Outlook - The board of directors did not recommend the payment of an interim dividend for the three months ended March 31, 2020, consistent with the previous year[39] - The company anticipates that its financial performance in 2020 may be further affected by overall market conditions due to the COVID-19 pandemic, as the Chinese government has implemented various measures to maintain public safety[40] - The company is committed to prudent cost control measures to enhance productivity and provide quality service to customers in response to the pandemic's impact[42] Miscellaneous - The company's unaudited consolidated revenue for the three months ended March 31, 2020, decreased by 26.5% to HKD 383,068,000 from HKD 521,291,000 in the same period of 2019[23] - No trading or redemption of the company's listed securities occurred during the three months ending March 31, 2020[62] - The unaudited condensed consolidated financial statements for the three months ending March 31, 2020, were reviewed by the audit committee and approved by the board on May 8, 2020[61] - The company has not granted any share options under its share option scheme during the three months ended March 31, 2020[53] - The company’s major shareholder, Luo Leping, holds 98,548,320 shares, representing 20.69% of the total shares[47]
G.A.控股(08126) - 2020 Q1 - 季度财报