Revenue and Profitability - The Group's revenue for the Period amounted to approximately HK$37.9 million, representing an increase of 146.7% compared to approximately HK$15.4 million for the Preceding Period[11]. - Revenue from the advertising operation was approximately HK$37.7 million, up from approximately HK$15.0 million in the Preceding Period[12]. - The Group recorded a loss of approximately HK$2.7 million for the period, compared to a loss of HK$28.4 million in the previous period, resulting in a basic and diluted loss per share of HK$0.05, down from HK$0.77[27]. - The profit attributable to owners of the Company for the nine months ended 31 December 2020 was HK$5,218,000, compared to a loss of HK$28,416,000 in the same period of 2019[85]. - Basic and diluted earnings per share for the nine months ended 31 December 2020 was HK$0.08, compared to a loss per share of HK$0.77 in the same period of 2019[85]. - The profit for the period ended December 31, 2020, was HK$5,218,000, compared to a loss of HK$10,306,000 for the same period in 2019[87]. Costs and Expenses - The cost of sales and services was approximately HK$28.2 million, leading to a gross profit of approximately HK$9.7 million, which is an increase of 274.9% from approximately HK$2.6 million for the Preceding Period[19]. - Administrative expenses decreased by 60.3% to approximately HK$6.9 million, down from approximately HK$17.4 million for the Preceding Period[19]. - The Group's cost of sales for the nine months ended 31 December 2020 was HK$28,261,000, up from HK$12,800,000 in the same period of 2019, indicating increased operational costs[85]. - The Group's finance costs for the nine months ended 31 December 2020 were HK$2,143,000, compared to HK$381,000 in the same period of 2019, reflecting increased borrowing costs[85]. Share Capital and Fundraising - The number of issued ordinary shares increased to 7,141,423,920 shares as of 31 December 2020, up from 4,902,391,929 shares on 31 March 2020[25]. - The Group raised approximately HK$68.6 million through equity fundraising activities, with HK$23.8 million used for loan repayment and HK$13.6 million for working capital[32]. - The company issued 150,131,991 shares to pay approximately HK$7.5 million in interest during the period, at a conversion price of HK$0.05 per share[98]. - The bondholders converted HK$30 million of the 2018 convertible bonds into 60,000,000 shares at a conversion price of HK$0.05 per share[98]. - The bondholders also converted HK$50 million of the 2019 convertible bonds into 100,000,000 shares at the same conversion price[98]. Business Operations and Future Plans - The Group aims to continue expanding its new energy vehicle and advertising business throughout 2021[34]. - The Group sold ten units of Farnova Super Electric Sports Car in the fourth quarter and expects to sell at least another 20 units[13]. - The Group plans to sell at least 20 units of the Farnova Super Electric Sports Car in the next quarter, expecting to generate revenue of RMB 30 million[34]. - The Changde Plant is expected to be inspected and accepted by the government by the end of March 2021[34]. - The Group will engage engineering and design teams from Ferrari and Lamborghini to develop high-end new energy vehicles in China, focusing on pick-up trucks, sports cars, and buses[34]. Financial Position and Concerns - The Group reported net liabilities as of December 31, 2020, indicating material uncertainty regarding its ability to continue as a going concern[110]. - The Directors have confirmed that shareholders will provide continuous financial support for a period of twelve months from the approval date of the consolidated financial statements for the year ended March 31, 2020[114]. - The consolidated financial statements have been prepared on a going concern basis, contingent on the successful implementation of the aforementioned measures[115]. Compliance and Governance - The company has complied with all corporate governance code provisions, except for not providing 14 days' notice for all board meetings[59]. - The company has maintained a code of conduct for directors' securities transactions, complying with GEM Listing Rules[60]. - The Audit Committee reviewed the unaudited third quarterly results and confirmed compliance with applicable accounting standards and GEM Listing Rules[74]. Other Financial Information - The Group's other income for the nine months ended 31 December 2020 was HK$8,062,000, compared to HK$329,000 in the same period of 2019, indicating improved revenue streams[85]. - The net fair value gain on financial assets was HK$1,000, compared to a loss of approximately HK$888,000 for the Preceding Period[19]. - The company reported no exchange differences on translation of foreign operations for the three months ended December 31, 2020, compared to a loss of HK$269,000 in 2019[87].
嘉鼎国际集团(08153) - 2021 Q3 - 季度财报