Financial Performance - The group's revenue for the first quarter of 2021 was HKD 32,980,000, a decrease of 42.4% compared to HKD 57,385,000 in the same period of 2020[4] - Other income for the first quarter was HKD 37,000, down from HKD 329,000 year-on-year[4] - The cost of inventories consumed increased significantly to HKD 29,386,000 from HKD 11,755,000, reflecting a rise of 150.5%[4] - The group reported a pre-tax loss of HKD 297,000, compared to a loss of HKD 6,469,000 in the previous year, indicating an improvement[4] - The net loss for the period was HKD 317,000, a significant reduction from HKD 6,441,000 in Q1 2020, showing a decrease of 95.1%[4] - The total comprehensive loss for the period was HKD 1,867,000, compared to HKD 13,237,000 in the same quarter of the previous year, a reduction of 85.9%[7] - The basic and diluted loss per share was HKD 0.005, down from HKD 1.48 in the previous year[7] - The group reported a revenue of HKD 32,980,000 in the wine business for Q1 2021, an increase from HKD 29,235,000 in Q1 2020, representing a growth of approximately 9.5%[21] - The group recorded a total revenue of HKD 32,980,000 for Q1 2021, compared to HKD 57,385,000 in Q1 2020, indicating a decline of about 42.5%[21] - The group incurred a pre-tax loss of HKD 297,000 in Q1 2021, a significant improvement from a loss of HKD 6,469,000 in Q1 2020[21] - The financial costs for Q1 2021 amounted to HKD 1,142,000, a decrease from HKD 2,122,000 in Q1 2020, reflecting a reduction of approximately 46.2%[26] - The company reported a loss attributable to shareholders of HKD 317,000 for the three months ended March 31, 2021, compared to a loss of HKD 7,040,000 for the same period in 2020, indicating a significant improvement[32] Assets and Liabilities - The group’s total assets as of March 31, 2021, were HKD 366,457,000, compared to HKD 370,189,000 at the end of Q1 2020[9] - The group’s total assets and liabilities from the subsidiaries that were not consolidated were not included in the financial statements for Q1 2021[15] - As of March 31, 2021, the group's cash and cash equivalents amounted to approximately HKD 5.3 million, down from approximately HKD 7.9 million as of December 31, 2020[57] - The group's borrowings as of March 31, 2021, were approximately HKD 69.47 million, a decrease from approximately HKD 75.19 million as of December 31, 2020[60] - The group's debt-to-equity ratio as of March 31, 2021, was approximately 16%, unchanged from December 31, 2020[61] Business Segments - The group is primarily engaged in wine business, food production, securities investment, and lending activities[12] - The group’s food business did not generate any revenue in Q1 2021, while it reported HKD 28,101,000 in Q1 2020[21] - The group reported a segment performance of HKD 615,000 in the wine business for Q1 2021, up from HKD 467,000 in Q1 2020, showing an increase of about 31.7%[21] - The wine trading segment generated revenue of approximately HKD 33 million in 2021, a slight increase from approximately HKD 29 million in 2020, with segment profit rising to HKD 615,000 from HKD 467,000[41] Corporate Governance and Compliance - The audit committee reviewed the unaudited financial statements for the first quarter of 2021 and deemed them compliant with applicable accounting standards and GEM listing rules[87] - The board of directors confirmed compliance with the corporate governance code during the year 2021[84] - The audit committee consists of three independent non-executive directors, with Mr. Li Liqiang serving as the chairman[86] - No directors or their associates held interests in any business that competes or may compete with the group during the year 2021[82] Future Outlook and Strategies - The group plans to enhance its wine trading sales capabilities and conduct more advertising activities targeting the APEC wine market[49] - The group is actively seeking acquisition opportunities to expand its wine trading division and enhance performance[49] - The group intends to explore opportunities to expand its lending business as conditions gradually improve[50] - The group will regularly monitor existing business performance and may divest underperforming segments to focus resources on higher growth potential businesses[52] - The board is exploring alternative methods to operate the food business to reduce reliance on specialty stores for distribution and sales[43] - The company is actively monitoring market changes to seek future investment opportunities despite the current economic uncertainty[44] Employee and Shareholder Information - As of March 31, 2021, the group had approximately 17 employees, with competitive compensation packages offered to attract and retain talent[69] - The company has adopted a share option plan to incentivize and retain existing employees and recruit additional staff[72] - As of March 31, 2021, there were no significant shareholders holding 5% or more of the company's shares[78] - The company did not declare or recommend any dividends for the three months ended March 31, 2021, consistent with the previous year[32] - The company did not purchase, sell, or redeem any shares during the year 2021[81] - There were no unexercised options under the share option plan as of March 31, 2021[73] Challenges and Risks - The company faced challenges in the wine trading business due to the COVID-19 pandemic, leading to extended credit terms and profit adjustments to attract new orders[41] - The company did not generate any interest income from its lending business during the period, compared to approximately HKD 50,000 in 2020[45] - The company has not engaged in any securities investments during the period, maintaining a cautious stance due to market volatility exacerbated by the pandemic[44] - The group did not consolidate the financial statements of its subsidiaries due to lack of cooperation from their management, impacting the overall financial reporting for Q1 2021[15]
百利达集团控股(08179) - 2021 Q1 - 季度财报