Financial Performance - For the three months ended September 30, 2020, G.A. Holdings reported revenue of HKD 636,935,000, an increase of 12.1% compared to HKD 568,310,000 for the same period in 2019[6]. - For the nine months ended September 30, 2020, total revenue was HKD 1,605,315,000, a slight decrease of 1.0% from HKD 1,622,216,000 in the previous year[6]. - The net profit for the three months ended September 30, 2020, was HKD 11,531,000, a decrease of 9.9% compared to HKD 12,811,000 in the same period of 2019[6]. - The basic and diluted earnings per share for the three months ended September 30, 2020, were HKD 2.42, compared to HKD 2.69 for the same period in 2019[7]. - The total comprehensive income for the three months ended September 30, 2020, was HKD 39,540,000, compared to a loss of HKD 2,782,000 in the same period of 2019[7]. - The group’s operating profit for the three months ended September 30, 2020, was HKD 27,531,000, a slight decrease from HKD 28,412,000 in the previous year[6]. - The company reported a total tax expense of HKD 18,476,000 for the nine months ended September 30, 2020, compared to HKD 19,878,000 for the same period in 2019[24]. - The operating profit decreased by 12.0% to HKD 214,771,000 from HKD 243,988,000 in the same period of 2019, with the operating profit margin declining from approximately 15.0% to about 13.4%[35]. Revenue Breakdown - The sales of automobiles for the three months ended September 30, 2020, reached HKD 463,666,000, up 24.6% from HKD 372,105,000 in the same period of 2019[22]. - The total income from automobile services and sales of auto parts for the nine months ended September 30, 2020, was HKD 430,442,000, down 17.7% from HKD 523,188,000 in the previous year[22]. - Revenue from automobile sales increased by 7.0% to HKD 1,144,722,000 compared to HKD 1,069,562,000 in the same period of 2019, primarily due to the launch of higher-priced new car models[30]. - Revenue from automobile services and parts sales decreased by 17.7% to HKD 430,442,000 from HKD 523,188,000 in the same period of 2019, mainly due to a reduction in service frequency caused by the COVID-19 outbreak[31]. - Technical fee income was approximately HKD 6,641,000, a decrease of 8.5% from the same period in 2019, attributed to reduced automobile sales by Xiamen Zhongbao due to COVID-19[33]. Employee and Operational Costs - The group experienced a decrease in employee benefit expenses, which amounted to HKD 27,602,000 for the three months ended September 30, 2020, down from HKD 31,582,000 in 2019, representing a reduction of 12.9%[6]. - Employee benefit expenses were HKD 84,538,000, a decrease of 16.1% from HKD 100,775,000 in the same period of 2019, due to staff reductions and lower commission expenses[38]. - Other income decreased to HKD 30,032,000 from HKD 33,367,000 in the same period of 2019, primarily due to a reduction in commission income caused by COVID-19[37]. Foreign Exchange and Government Support - The company recorded a foreign exchange gain of HKD 28,009,000 for the three months ended September 30, 2020, compared to a loss of HKD 15,593,000 in the same period of 2019[7]. - The company recorded a foreign exchange gain of approximately HKD 273,000, compared to a foreign exchange loss of approximately HKD 2,120,000 in the same period of 2019[40]. - The company received government subsidies related to cash grants amounting to HKD 1,864,000 for the nine months ended September 30, 2020[22]. Future Outlook and Strategic Focus - G.A. Holdings plans to continue focusing on automotive sales and related technical services, as well as expanding its market presence[13]. - The company anticipates continued recovery in automobile sales as the COVID-19 pandemic situation improves in China[28]. - The company expects financial performance for the remainder of 2020 to maintain pre-pandemic levels, with confidence in further enhancing profitability and creating long-term value for stakeholders[46]. Corporate Governance and Shareholder Information - The company has complied with the corporate governance code as per GEM listing rules during the reporting period[62]. - The board did not recommend the payment of an interim dividend for the nine months ended September 30, 2020[45]. - As of September 30, 2020, the total assets of the company were approximately HKD 1,630,701,000[59]. - The company has a significant shareholder, Mr. Loh, holding 107,780,320 shares, representing 22.63% of the total shares[50]. - There were no transactions involving the purchase or redemption of the company's listed securities during the nine months ended September 30, 2020[64]. - The company has not granted any share options under its share option scheme during the nine months ended September 30, 2020[56]. - The company has not disclosed any rights granted to directors or senior management to subscribe for shares or debt securities[53]. - The company aims to attract high-quality employees through its share option scheme[55]. Audit and Review - The audit committee has reviewed the financial results for the third quarter of 2020 and provided recommendations to the board[63].
G.A.控股(08126) - 2020 Q3 - 季度财报