Financial Performance - The group's revenue for Q1 2021 was HKD 32,980,000, a decrease of 42.4% compared to HKD 57,385,000 in Q1 2020[5] - Other income for Q1 2021 was HKD 42,000, down from HKD 329,000 in Q1 2020[5] - The group reported a pre-tax loss of HKD 342,000 for Q1 2021, significantly improved from a loss of HKD 6,469,000 in Q1 2020[5] - The net loss for Q1 2021 was HKD 362,000, compared to a net loss of HKD 6,441,000 in Q1 2020, indicating a reduction in losses[5] - Basic and diluted loss per share for Q1 2021 was HKD 0.06, a significant improvement from HKD 1.48 in Q1 2020[7] - The total comprehensive loss for Q1 2021 was HKD 1,912,000, compared to HKD 13,237,000 in Q1 2020, reflecting a decrease in overall losses[7] - The group incurred a foreign exchange loss of HKD 1,550,000 in Q1 2021, compared to a loss of HKD 6,796,000 in Q1 2020[7] - The group's revenue for the year 2021 was approximately HKD 33 million, a decrease of about 43% compared to the previous year[39] - The wine trading segment recorded a slight revenue increase to approximately HKD 33 million in 2021, up from about HKD 29 million in 2020, with a segment profit of approximately HKD 615,000[34] - The food business reported no revenue in 2021, down from approximately HKD 28 million in 2020[39] - The group incurred a loss attributable to shareholders of approximately HKD 347,000 in 2021, an improvement of about 95% compared to a loss of approximately HKD 6.44 million in 2020[39] Cost Management - Employee benefits expenses decreased to HKD 868,000 in Q1 2021 from HKD 9,811,000 in Q1 2020, indicating cost-cutting measures[5] - The group’s financial costs were HKD 1,175,000 in Q1 2021, down from HKD 2,122,000 in Q1 2020, showing improved financial management[5] - The finance costs for the first quarter of 2021 were HKD 1,175,000, a decrease from HKD 2,122,000 in the same period of 2020, reflecting a reduction of approximately 44.7%[23] - The group’s unallocated corporate expenses for the first quarter of 2021 were HKD 889,000, a decrease from HKD 5,532,000 in the same period of 2020, indicating a reduction of approximately 84%[18] Assets and Liabilities - The group’s total assets as of March 31, 2021, were HKD 366,427,000, a slight decrease from HKD 370,189,000 as of March 31, 2020[9] - As of March 31, 2021, the group's cash and cash equivalents amounted to approximately HKD 5.6 million, down from about HKD 7.9 million as of December 31, 2020[45] - The group's borrowings as of March 31, 2021, were approximately HKD 74.17 million, a slight decrease from about HKD 75.19 million as of December 31, 2020[48] - The debt-to-equity ratio as of March 31, 2021, was approximately 16%, unchanged from December 31, 2020[49] - The group has approximately HKD 68.5 million in utilized bank financing as of March 31, 2021, down from HKD 71 million as of December 31, 2020[53] Business Operations - For the first quarter ended March 31, 2021, the total revenue from the wine business was HKD 32,980,000, an increase from HKD 29,235,000 in the same period of 2020, representing a growth of approximately 9.5%[18] - The group’s food business reported revenue of HKD 28,101,000 in the first quarter of 2021, compared to HKD 28,101,000 in the same period of 2020, indicating no growth[18] - The group’s investment segment did not generate any revenue in the first quarter of 2021, maintaining the same status as in the first quarter of 2020[18] - The group did not declare or propose any dividends for the first quarter ended March 31, 2021, consistent with the same period in 2020[31] Governance and Compliance - The board confirms compliance with the corporate governance code as per GEM listing rules during the reporting period[71] - The Audit Committee was established based on a board resolution passed on June 25, 2011, and complies with GEM Listing Rules sections 5.28 and 5.29[73] - The Audit Committee consists of three independent non-executive directors as of March 31, 2021, with Mr. Li Liqiang as the chairman[73] - The Audit Committee reviewed the unaudited financial statements for Q1 2021 and found them to comply with applicable accounting standards and GEM Listing Rules[73] - The company has adopted a revised Audit Committee charter that includes internal control and risk management concepts[73] - The board of directors includes both executive and independent non-executive directors, ensuring a balanced governance structure[74] Employee and Talent Management - The group employs around 17 staff members and offers competitive compensation packages to attract and retain talent[56] - The company has adopted a share option plan to incentivize and retain existing employees and recruit new talent[59] - As of March 31, 2021, there are no unexercised share options under the share option plan[60] Strategic Plans - The group plans to enhance its wine trading sales capabilities and seek acquisition opportunities to expand its customer base and supply channels in the APEC wine market[41] - The group will actively explore opportunities to expand its lending business as conditions gradually improve[42] Other Information - There were no significant investments, acquisitions, or disposals of subsidiaries during the reporting period[57] - The group has not purchased, sold, or redeemed any shares during the reporting period[67] - There are no known conflicts of interest involving directors in competitive businesses during the reporting period[69] - The group does not have any agreements or instruments in place to hedge against foreign exchange risks[50] - As of March 31, 2021, the group has no significant contingent liabilities disclosed in the financial statements[54]
百利达集团控股(08179) - 2021 Q1 - 季度财报