Financial Performance - The group's revenue increased from approximately HKD 26,634,000 in Q1 2020 to approximately HKD 50,264,000 in Q1 2021, representing an increase of about HKD 23,630,000 or 88.7%[9] - Gross profit rose from approximately HKD 6,136,000 in Q1 2020 to approximately HKD 6,795,000 in Q1 2021, an increase of about HKD 659,000 or 10.7%[9] - The net profit attributable to the company's owners was approximately HKD 3,068,000 in Q1 2021, compared to approximately HKD 17,000 in Q1 2020[10] - The total comprehensive income for the period was approximately HKD 3,067,000 in Q1 2021, compared to HKD 16,000 in Q1 2020[12] - For the three months ended March 31, 2021, the company reported a profit of HKD 3,068,000, compared to a profit of HKD 21,000 for the same period in 2020, representing a significant increase[13] - The company reported a profit before tax of HKD 3,353,000 in Q1 2021, compared to HKD 240,000 in Q1 2020[12] - The company's profit before tax for the three months ended March 31, 2021, was HKD 3,068,000, compared to HKD 21,000 for the same period in 2020, representing a significant increase[32] Earnings and Dividends - The basic and diluted earnings per share for Q1 2021 was HKD 0.63, compared to less than HKD 0.1 in Q1 2020[12] - The company did not declare any dividends for the three months ended March 31, 2021, consistent with the same period in 2020[30] - The board did not recommend any dividend payment for the three months ended March 31, 2021, consistent with the previous year[55] Government Support - The company received government subsidies under the Employment Support Scheme, contributing to the increase in net profit[10] - The company received government grants of HKD 2,572,000 during the reporting period, which were utilized to support employee salaries under the Employment Support Scheme[26] Revenue Sources - Major clients contributing over 10% of revenue included Client S with HKD 18,892,000 and Client T with HKD 10,726,000 for the three months ended March 31, 2021[24] - Revenue from public sector projects for tunnel construction services rose from approximately HKD 8,974,000 to approximately HKD 22,518,000, an increase of approximately HKD 13,544,000 or 150.9%[44] Costs and Expenses - Administrative expenses rose from HKD 5,903,000 in Q1 2020 to HKD 6,148,000 in Q1 2021[12] - Employee benefits expenses, including directors' remuneration, rose to HKD 22,080,000 in Q1 2021 from HKD 15,189,000 in Q1 2020, reflecting a year-on-year increase of approximately 45.5%[6] - The group's service costs increased from approximately HKD 20,498,000 to approximately HKD 43,469,000, an increase of approximately HKD 22,971,000 or 112.1%[46] - The cost of construction materials and supplies surged from approximately HKD 2,424,000 to approximately HKD 14,626,000, an increase of approximately HKD 12,202,000 or 503.4%[46] Assets and Equity - Total equity attributable to owners increased to HKD 56,021,000 as of March 31, 2021, up from HKD 51,945,000 as of March 31, 2020, reflecting a growth of approximately 7.9%[13] - The company’s retained earnings decreased to HKD (3,596,000) as of March 31, 2021, from HKD (7,672,000) as of March 31, 2020, indicating an improvement in retained earnings[13] Operational Focus - The company is focusing on expanding its tunnel construction services, which are expected to be a major growth driver supported by several large infrastructure projects[40] - The group anticipates continued opportunities in public infrastructure projects, leveraging its experience in tunnel construction[42] - The company has been actively evaluating opportunities in the underground construction sector to diversify its business beyond tunnel engineering[35] Compliance and Governance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[19] - The audit committee, consisting of three independent non-executive directors, reviewed the first quarter report for the period ending March 31, 2021, confirming compliance with applicable accounting standards and GEM listing rules[68]. - The company has adopted and complied with the corporate governance code since its listing on February 22, 2017, ensuring proper regulation of business activities and decision-making processes[72]. Shareholding Structure - As of March 31, 2021, Mr. Zhuang Junyue held a total of 287,896,000 shares, representing 59.0% of the company's issued share capital[63] - Ms. Du Yanbing and Ms. Zhuang Roujia also held a combined total of 287,896,000 shares, each representing 59.0% of the company's issued share capital[66] - Mr. Wu Guolun was reported to hold 37,500,000 shares, which accounts for 7.7% of the company's issued share capital[66] - The company did not identify any other individuals with recorded interests in the company's shares or related securities as of March 31, 2021[67] Risk Management - The group reported no significant foreign currency risk as transactions were primarily denominated in Hong Kong dollars[59] - The company’s performance is heavily reliant on the supply of civil engineering projects in the public sector in Hong Kong, which may vary significantly over time[37] Other Information - The company has not reported any independent operating segment financial information, as resources are integrated across the group[21] - The company has submitted several tenders to main contractors, with results pending announcement, indicating ongoing efforts to secure new projects[35] - No major events occurred after March 31, 2021, that could significantly impact the group's operations and financial performance[60] - During the reporting period, the company and its subsidiaries did not purchase, redeem, or sell any of the company's listed securities[61] - As of March 31, 2021, the company has not granted or issued any stock options or adopted any stock option plans[69]. - The independent internal control consultant reported to the audit committee on March 23, 2021, and specific procedures have been implemented to strengthen internal control measures[76]. - The company has established a compliance advisory agreement with a sponsor, which has been extended on March 31, 2020, and March 24, 2021[78].
骏杰集团控股(08188) - 2021 Q1 - 季度财报