Revenue Growth - The group's revenue increased from approximately HKD 87,361,000 for the nine months ended September 30, 2020, to approximately HKD 279,589,000 for the same period in 2021, representing a growth of about 220.0%[8] - Revenue from public sector tunnel construction projects rose from approximately HKD 38,789,000 to approximately HKD 151,622,000, an increase of about 291.0%[8] - The total revenue for the nine months ended September 30, 2021, was HKD 123,104,000, compared to HKD 44,925,000 for the same period in 2020, reflecting an increase of approximately 174%[29] - The group recorded other income of approximately HKD 3,594,000 for the nine months ended September 30, 2021, compared to HKD 3,815,000 in the previous year[11] - Other income for the nine months ended September 30, 2021, totaled HKD 3,594,000, a decrease from HKD 3,815,000 in the same period of 2020, indicating a decline of approximately 6%[26] Profitability - Gross profit for the nine months ended September 30, 2021, was approximately HKD 28,868,000, with a gross margin of 10.3%, down from 16.9% in the previous year[9] - The net profit attributable to the owners of the company for the nine months ended September 30, 2021, was approximately HKD 12,981,000, compared to HKD 1,057,000 for the same period in 2020[9] - For the nine months ended September 30, 2021, the company reported a profit of HKD 12,981,000, compared to a profit of HKD 1,061,000 for the same period in 2020, representing a significant increase of approximately 1,223%[12] - For the three months ended September 30, 2021, the profit before tax was HKD 6,748,000, compared to HKD 96,000 for the same period in 2020, representing a significant increase[33] - For the nine months ended September 30, 2021, the profit before tax was HKD 12,981,000, compared to HKD 1,061,000 for the same period in 2020, indicating a substantial growth[33] Expenses - Administrative expenses for the nine months ended September 30, 2021, were approximately HKD 16,901,000, slightly up from HKD 16,256,000 in the previous year[11] - The group experienced increased subcontracting costs due to more reliance on construction materials, negatively impacting the gross margin[9] - The total employee benefits expenses, including directors' remuneration, amounted to HKD 123,104,000 for the nine months ended September 30, 2021, compared to HKD 44,925,000 for the same period in 2020, showing an increase of approximately 174%[29] - The company reported a tax expense of HKD 2,455,000 for the nine months ended September 30, 2021, compared to HKD 1,001,000 for the same period in 2020[30] - Financing costs decreased from approximately HKD 226,000 to approximately HKD 127,000 due to reduced interest expenses on bank borrowings[62] Shareholder Information - As of September 30, 2021, the total shareholding of Mr. Zhuang Junyue and Mr. Zhuang Weijiao is 290,120,000 shares, representing 59.5% of the issued share capital[72] - Mr. Zhuang Junyue holds 103,000,000 shares directly and has a deemed interest in 187,120,000 shares through concerted action[73] - Mr. Zhuang Weijiao holds 103,000,000 shares directly and has a deemed interest in 49,620,000 shares through his spouse[73] - Ms. Du Yanbing, a major shareholder, holds a total of 290,120,000 shares, which is 59.5% of the issued share capital[75] - Mr. Wu Guolun holds 39,500,000 shares, representing 8.1% of the issued share capital[75] Corporate Governance - The company emphasizes the importance of maintaining high standards of corporate governance for sustainable development[80] - The board has reviewed the corporate governance practices and believes the company has complied with the GEM Listing Rules[80] - The company has adopted and complied with the corporate governance code since its listing on February 22, 2017[80] - 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[83] - The audit committee, consisting of three independent non-executive directors, reviewed the third-quarter report for the nine months ended September 30, 2021, confirming compliance with applicable accounting standards and GEM Listing Rules[84] Market Position and Strategy - The company is focused on expanding its public sector construction services, which have shown significant revenue growth in recent periods[8] - The group has secured 10 public construction projects and one private sector project with a total contract value of approximately HKD 154,050,000 and HKD 2,894,000 respectively as of September 30, 2021[44] - The group anticipates sustained demand for tunnel construction services due to ongoing major infrastructure projects, including the Central Kowloon Route and the three-runway system at Hong Kong International Airport[50] - The group is one of the few selected subcontractors with extensive experience in tunnel construction, positioning itself to capitalize on upcoming public infrastructure projects[51] - The group is exploring opportunities for diversification in the construction industry beyond tunnel engineering[44]
骏杰集团控股(08188) - 2021 Q3 - 季度财报