Financial Performance - Revenue for the nine months ended September 30, 2021, was approximately HKD 149.41 million, an increase of about 67.03% compared to HKD 89.45 million for the same period in 2020[7] - Profit attributable to owners of the company for the nine months ended September 30, 2021, was approximately HKD 2.23 million, a turnaround from a loss of HKD 13.68 million in the same period of 2020[7] - Basic earnings per share for the nine months ended September 30, 2021, was approximately HKD 0.23, compared to a loss of HKD 1.37 per share for the same period in 2020[7] - Gross profit for the nine months ended September 30, 2021, was approximately HKD 43.64 million, compared to HKD 23.05 million for the same period in 2020[8] - The company reported a pre-tax profit of approximately HKD 2.96 million for the nine months ended September 30, 2021, compared to a pre-tax loss of HKD 13.68 million in the same period of 2020[8] - Total comprehensive income for the nine months ended September 30, 2021, was approximately HKD 4.11 million, compared to a loss of HKD 10.75 million for the same period in 2020[8] - The company reported a loss attributable to equity holders of approximately HKD 2,280,000 for the nine months ended September 30, 2021, compared to a loss of HKD 13,680,000 in 2020, indicating an improvement in financial performance[27] Revenue Breakdown - Revenue breakdown by product for the nine months ended September 30, 2021, includes finished watches at HKD 86,634,000, up 22% from HKD 71,058,000 in 2020[19] - Revenue from components increased dramatically to HKD 38,710,000 for the nine months ended September 30, 2021, compared to HKD 1,680,000 in 2020, reflecting a growth of over 2,200%[19] - Geographically, revenue from Indonesia reached HKD 99,823,000 for the nine months ended September 30, 2021, compared to HKD 32,404,000 in 2020, marking an increase of 208%[17] Expenses and Costs - The company incurred administrative expenses of approximately HKD 35.85 million for the nine months ended September 30, 2021, compared to HKD 31.69 million for the same period in 2020[8] - The company’s financial costs for the nine months ended September 30, 2021, were approximately HKD 3.75 million, slightly up from HKD 3.64 million in the same period of 2020[8] - Sales and distribution expenses increased by approximately HKD 0.31 million or about 12.16% to approximately HKD 2.86 million, primarily due to increased packaging costs[40] - Administrative expenses rose by approximately HKD 4.16 million or about 13.13% to approximately HKD 35.85 million, mainly due to relocation costs to a new factory in Shenzhen and rising employee salaries[40] - The depreciation expense for property, plant, and equipment was HKD 2,450,000 for the nine months ended September 30, 2021, compared to HKD 2,089,000 in 2020, reflecting an increase of 17%[20] Cash and Financial Ratios - The company’s cash and cash equivalents as of September 30, 2021, were not disclosed in the provided documents[12] - The cash and cash equivalents as of September 30, 2021, were approximately HKD 11.64 million, up from HKD 4.45 million as of September 30, 2020[43] - The group's current ratio as of September 30, 2021, was approximately 1.08, compared to 1.16 as of September 30, 2020[43] - The debt-to-equity ratio as of September 30, 2021, was approximately 193%, down from 268% as of September 30, 2020[44] Corporate Governance and Compliance - The company has adhered to the corporate governance code as per GEM Listing Rules, with a noted deviation regarding the roles of Chairman and CEO being held by the same individual[67] - The company has adopted a code of conduct for securities trading by directors, confirming compliance during the reporting period[68] - The audit committee was established on June 20, 2018, in accordance with GEM Listing Rules, with members including Mr. Yu Shou Ning, Mr. Zhao Zhi Peng, and Ms. Yu Hui Fang[69] - The audit committee's primary responsibilities include recommending the appointment and removal of external auditors, reviewing financial statements, and overseeing internal control procedures[69] - The financial data in the quarterly report has not been audited but has been reviewed by the audit committee, which believes the performance is prepared in accordance with applicable accounting standards[69] Future Plans and Market Focus - The company continues to focus on ODM manufacturing for global watch manufacturers and brand owners, indicating potential for market expansion[12] - The group plans to continue focusing on core business development and improving product design and development capabilities[38] - The company has established a presence in key markets including Indonesia, Brazil, India, Hong Kong, and Australia, contributing significantly to its revenue streams[17] Shareholder Information - As of September 30, 2021, major shareholders, including Mr. Chok and Mrs. Chok, hold 620,000,000 shares, representing 62% of the total shares[53] - The company will hold a special general meeting on November 17, 2021, to consider a share consolidation proposal[52] Stock Options and Investments - The stock option plan approved by shareholders in June 2018 allows for the issuance of options up to 10% of the issued shares at any time[61] - No stock options have been granted since the adoption of the plan up to September 30, 2021[62] - The company has no major investment or capital asset plans for the upcoming year beyond what has been disclosed in the quarterly report[59] - There were no significant investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures during the reporting period[58] - The company did not engage in any purchases, sales, or redemptions of its listed securities during the reporting period[57]
恒伟集团控股(08219) - 2021 Q3 - 季度财报