Financial Performance - The company's unaudited revenue for the nine months ended December 31, 2020, was approximately HKD 94.9 million, an increase of about 177% compared to approximately HKD 34.3 million in the same period last year[4]. - Revenue from mobile power and data cables increased by approximately 222.7% to about HKD 49.7 million, up from approximately HKD 15.4 million in the previous year, driven by the launch of new adult and children's headphones[13]. - Revenue from medical control devices reached approximately HKD 41.5 million, a 192.3% increase from approximately HKD 14.2 million in the previous year, attributed to the introduction of a new hospital ward controller[18]. - Revenue for the three months ended December 31, 2020, was HKD 34,161,000, compared to HKD 10,722,000 for the same period in 2019, representing a significant increase of 218%[36]. - Gross profit for the nine months ended December 31, 2020, was HKD 18,051,000, up from HKD 11,202,000 in the previous year, reflecting a growth of 61.5%[36]. - The company’s total revenue for the nine months ended December 31, 2020, was HKD 94,928,000, compared to HKD 34,269,000 in the previous year, marking an increase of 176%[46]. - Other income and gains for the three months ended December 31, 2020, amounted to HKD 983,000, compared to HKD 336,000 in the same period of 2019, reflecting a growth of 192%[46]. Loss and Profitability - The unaudited loss attributable to owners of the company decreased from approximately HKD 23 million in the previous year to approximately HKD 9.9 million, primarily due to reduced director remuneration and lower share-based payment expenses[4]. - The net loss attributable to the owners of the company for the three months ended December 31, 2020, was HKD 2,070,000, an improvement from a loss of HKD 8,609,000 in the same period of 2019[39]. - The company’s total comprehensive loss attributable to owners for the nine months ended December 31, 2020, was HKD (9,840,000), compared to HKD (21,536,000) in the previous year, indicating an improvement[39]. - Basic loss per share for the three months ended December 31, 2020, was HKD (0.5), an improvement from HKD (2.3) in the same period of 2019[39]. - For the nine months ended December 31, 2020, the basic loss per share was approximately HKD 9,877,000, compared to a loss of HKD 23,046,000 for the same period in 2019, resulting in a basic loss per share of HKD 0.026[55]. Dividends and Shareholder Matters - The company does not recommend paying dividends for the current financial period[5]. - The company did not recommend the payment of dividends for the nine months ended December 31, 2020, consistent with the previous year[56]. - As of December 31, 2020, the beneficial owner, Mr. Zou Donghai, holds 35,000,000 shares, representing approximately 9.21% of the company's total shareholding[78]. - The company did not receive any notifications regarding major shareholders holding any short positions in the company's shares as of December 31, 2020[79]. Corporate Governance and Compliance - The Audit Committee, established on April 27, 2011, consists of three independent non-executive directors who reviewed the group's unaudited consolidated performance during the financial period[80]. - All directors confirmed compliance with the trading standards during the financial period, as per the GEM Listing Rules[81]. - The company or its subsidiaries did not purchase, sell, or redeem any of the company's listed securities during the financial period[83]. - There are no interests held by directors or major shareholders in any business that competes directly or indirectly with the group's business[84]. Subsidiaries and Investigations - The group lost control of several subsidiaries as of January 1, 2019, which has impacted the consolidation of their financial performance[6]. - The company has established a special investigation committee to investigate matters related to the loss of control over subsidiaries[7]. - The forensic investigation into the loss of control over subsidiaries is being conducted by an independent professional firm to identify potential breaches of fiduciary duty[10]. Taxation - The group’s tax provision for the three months ended December 31, 2020, included a reversal of temporary differences amounting to HKD 783,000, compared to a reversal of HKD (3,262,000) in the same period of 2019[54]. - The group’s tax provision for the nine months ended December 31, 2020, included a tax expense of HKD 2,284,000, compared to a tax expense of HKD (3,783,000) in the same period of 2019[54]. - The group’s tax rate for qualifying entities under the two-tiered profits tax system is 8.25% for the first HKD 2,000,000 of taxable profits, and 16.5% for profits exceeding that amount[54]. - The group’s Chinese subsidiaries are subject to a corporate income tax rate of 25% for the fiscal year and relevant periods[54]. Stock Options and Share Issuance - The company has a share option scheme in place to attract and retain talented participants for future development and expansion[64]. - The company reported a total of 3,000,000 stock options granted, representing 0.79% of the total shares[74]. - Another 3,500,000 stock options were granted, accounting for 0.92% of the total shares[74]. - As of December 31, 2020, the company had a total of 11,000,000 stock options outstanding, which is 2.89% of the total shares[74]. - The company has undergone adjustments to stock options due to share splits and consolidations effective on March 25, 2014, September 30, 2016, and November 29, 2018[70]. - The exercise price of the stock options has been adjusted accordingly due to the aforementioned share splits and consolidations[70]. - The company’s stock options plan allows for the issuance of ordinary shares, with specific details outlined in the report[74]. - The company’s directors and senior executives hold significant interests in the company’s shares, with specific percentages disclosed[74]. - The company’s stock options are set to expire on various dates, with some options granted as early as April 16, 2019[69]. - The company has a total of 2,112,500 shares under option, representing 0.54% of the total shares[74]. - The company’s stock options are part of a broader strategy to incentivize key personnel and align their interests with shareholders[74]. Future Plans and Contracts - The company plans to focus financial resources and management attention on the power and data cable business while continuing to seek opportunities in the trading of refined oil and chemical products[32]. - The estimated revenue and gross profit from a consulting contract with a natural gas company are approximately HKD 2,200,000 each, with the contract expected to be delayed until August 2021 due to the COVID-19 pandemic[23]. - The company signed a liquefied natural gas supply contract to provide approximately 20,000 tons of LNG between July and December 2020, with negotiations ongoing to extend the contract period[24].
百能国际能源(08132) - 2021 Q3 - 季度财报