Financial Performance - Total revenue for the three months ended December 31, 2020, was HKD 3,843,000, a decrease of 29% compared to HKD 5,403,000 in the same period of 2019[5] - Revenue from securities trading and brokerage services was HKD 1,572,000, down 16% from HKD 1,868,000 year-on-year[5] - Interest income from margin and loan financing services decreased to HKD 1,311,000, a decline of 18% from HKD 1,596,000 in the previous year[5] - For the nine months ended December 31, 2020, total revenue was HKD 14,777,000, a decrease of 40% from HKD 24,669,000 in the same period of 2019[5] - Total revenue for the three months ended December 31, 2020, was HKD 2,532,000, a decrease of 33.5% compared to HKD 3,807,000 for the same period in 2019[17] - Revenue from underwriting and placement services dropped significantly to HKD 8,000 from HKD 219,000 in the same quarter of 2019, representing a decline of 96.4%[19] - Interest income from margin financing services decreased to HKD 677,000, down 57.6% from HKD 1,596,000 in the same period last year[17] - Total revenue for Q3 2020 was approximately HKD 14.7 million, a decrease of about 40.5% compared to HKD 24.7 million in Q3 2019[33] - Revenue from underwriting and placement activities dropped approximately 96.2% to about HKD 0.4 million in Q3 2020, down from HKD 10.6 million in Q3 2019, due to a decrease in the number of assignments[33] Loss and Equity - The company reported a loss before tax of HKD 3,928,000 for the three months, compared to a loss of HKD 4,055,000 in the same period last year[5] - The company’s loss attributable to owners for the nine months was HKD 10,553,000, compared to a loss of HKD 4,369,000 in the previous year[5] - Basic loss per share for the nine months was HKD 0.53, compared to HKD 0.22 in the same period of 2019[5] - The company reported a net loss attributable to owners of HKD 3,928,000 for the three months ended December 31, 2020, compared to a loss of HKD 3,979,000 in the same period of 2019[27] - The total equity attributable to owners as of December 31, 2020, was HKD 183,599,000, down from HKD 276,046,000 a year earlier[7] Dividends and Employee Costs - The company declared and payable dividends of HKD 50,000,000 during the period[7] - The company did not declare any dividends for the nine months ended December 31, 2020, consistent with the previous year[24] - Total employee costs for the nine months ended December 31, 2020, were HKD 13,362,000, an increase of 3.7% from HKD 12,882,000 in the previous year[22] - The total employee cost for Q3 2020 was approximately HKD 13.3 million, compared to HKD 12.9 million in Q3 2019[41] Market Conditions and Future Outlook - The company continues to focus on providing securities trading, brokerage, and asset management services despite the challenging market conditions[9] - Future outlook remains cautious due to ongoing market volatility and the impact of COVID-19 on operations[18] - The management remains cautiously optimistic about future business development despite ongoing global economic uncertainties and the impact of COVID-19[32] Shareholding and Corporate Governance - After the completion of the offer, the offeror and its concert parties owned a total of 1,500,360,000 shares, representing 75.018% of the company's total issued share capital[47] - Following the offer's closure on December 11, 2020, the public shareholding percentage dropped to below 15%, leading to a trading suspension on December 14, 2020[47] - As of January 5, 2021, the offeror and its concert parties completed the placement of 264,880,000 shares, reducing their stake to 75%[49] - Post-placement, a total of 500,000,000 shares, equivalent to 25% of the company's issued share capital, were held by the public, meeting the minimum public float requirement[49] - As of December 31, 2020, the major shareholders included Mr. Ho and Ms. Tse, each holding 1,464,520,000 shares (73.23%), and Dr. Lee holding 300,000,000 shares (15.00%)[52] - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[58] - The company received a temporary waiver from the Stock Exchange regarding compliance with the GEM Listing Rules on public float from October 28, 2020, to January 8, 2021[47] - The company has adopted a share option scheme effective from December 5, 2016, but no options have been granted under this scheme as of the report date[57] - The board underwent significant changes with multiple resignations and appointments, including the appointment of Dr. Li Zhenbang as the executive director and chairman on December 11, 2020[62] - The company has established an audit committee in compliance with GEM listing rules, consisting of three independent non-executive directors and one non-executive director[65] - The board is committed to high standards of corporate governance, adhering to the principles and code provisions set out in the GEM listing rules[64] - The audit committee and senior management reviewed the group's unaudited consolidated results for the period, ensuring compliance with applicable accounting standards and GEM listing rules[67] - The company has confirmed that all directors complied with the prescribed trading standards throughout the reporting period[61] - There were no interests held by directors or major shareholders in any competing businesses during the reporting period[60] - The company’s governance practices are deemed essential for growth and safeguarding shareholder interests[64] - The board currently consists of nine members, including five executive directors and four independent non-executive directors[68] - The company is focused on maintaining transparency and adequate disclosure in its financial reporting[67]
PF GROUP(08221) - 2021 Q3 - 季度财报