Financial Performance - The Group reported revenue of HK$94,259,000 for the three months ended 30 September 2021, representing an increase of 10.2% compared to HK$85,531,000 in the same period of 2020[12]. - Gross profit for the period was HK$9,241,000, up 23.5% from HK$7,481,000 year-on-year[12]. - Profit before taxation increased significantly to HK$4,142,000, compared to HK$1,336,000 in the previous year, marking a growth of 210.5%[12]. - The profit for the period attributable to owners of the Company was HK$3,468,000, compared to HK$718,000 in the same period last year, reflecting a substantial increase of 384.2%[13]. - Basic and diluted earnings per share rose to HK$0.64, up from HK$0.13 in the prior year, indicating a growth of 392.3%[13]. - Total comprehensive income for the period was HK$3,801,000, compared to HK$2,264,000 in the same period of 2020, an increase of 67.9%[13]. Revenue Breakdown - Service income from Environmental and Cleaning services was HK$91,005,000, up from HK$82,867,000, reflecting a growth of 9.7% year-over-year[28]. - For the three months ended September 30, 2021, the environmental and cleaning services in Hong Kong generated revenue of approximately HK$83.1 million, an increase from approximately HK$75.1 million for the same period in 2020[81]. - Shanghai Operations recorded revenue of approximately HK$7.9 million for the three months ended September 30, 2021, a slight increase from HK$7.8 million in 2020[87]. - Interest income from Money Lending increased to HK$3,254,000 from HK$2,664,000, representing a growth of 22.1%[28]. - Interest income from the money lending business increased to approximately HK$3.3 million for the three months ended September 30, 2021, compared to approximately HK$2.7 million in 2020, due to a higher average loan balance[92]. Expenses and Costs - The Group's administrative expenses decreased to HK$4,091,000 from HK$5,846,000, a reduction of 30% year-on-year[12]. - Selling and marketing expenses increased to HK$725,000 from HK$551,000, reflecting a rise of 31.6%[12]. - Profit before taxation for the three months ended September 30, 2021, was impacted by increased staff costs totaling HK$51,523,000, compared to HK$46,728,000 in the previous year, marking an increase of 10.0%[36]. - Depreciation of property, plant, and equipment rose to HK$1,008,000 from HK$788,000, indicating a 27.9% increase[36]. - Selling, marketing, and administrative expenses decreased by approximately HK$1.6 million to approximately HK$4.8 million, down from HK$6.4 million in 2020, due to stringent cost control measures[122][125]. Taxation - The provision for Hong Kong Profits Tax for the three months ended 30 September 2021 is calculated at 16.5% of the estimated assessable profits, with a two-tiered rate for qualifying corporations where the first HK$2,000,000 is taxed at 8.25%[40]. - Current tax expense for the period was HK$380,000, compared to HK$377,000 in the previous year, reflecting a slight increase of 0.8%[39]. - The subsidiaries incorporated in the PRC are subject to a 25% Enterprise Income Tax rate for the period, consistent with the previous year[43]. - The Group is not subject to any income tax in the Cayman Islands and the British Virgin Islands[42]. Corporate Governance - The Company has complied with the Corporate Governance Code and GEM Listing Rules for the three months ended September 30, 2021, with some deviations noted[158]. - The roles of chairman and chief executive officer are performed by the same individual, Mr. Yu Shaoheng, which deviates from the Code provision A.2.1[160]. - The audit committee consists of three independent non-executive directors, ensuring governance and oversight[161]. - The Company has adopted a code of conduct regarding securities transactions by Directors, with no known noncompliance during the reporting period[150]. Investment Strategy - The Group's investment strategy involves continuous review and adjustment of the investment portfolio to generate reasonable returns based on market conditions[96]. - The Group's investments included Meituan, Haidilao, Alibaba, Jiumaojiu, and Tencent, with varying unrealized fair value gains and losses reported for the three months ended 30 September 2021[99]. - The Group recognized an impairment loss of approximately HK$9.1 million on overdue loans and interest receivables for the three months ended September 30, 2020 due to borrowers' financial difficulties[88]. - The Group's financial assets at fair value amounted to approximately HK$482,000, compared to HK$Nil in 2020[101]. Future Outlook - The Group actively implemented measures to mitigate the impact of the COVID-19 pandemic on its operations and financial position[69]. - The group plans to strengthen marketing efforts to expand market share in the commercial and residential sectors, aiming to mitigate the downturn effects from reduced service requests in the transportation and hotel sectors[109]. - The Shanghai Operations are expected to accelerate the expansion of environmental and cleaning services into the PRC, leveraging existing management's experience and financial support from the group[113]. - The group is adopting a cautious approach in its money lending business, focusing on reducing exposure to high-risk loans and only approving borrowers with sound financial abilities[114].
宝联控股(08201) - 2022 Q1 - 季度财报