Revenue Performance - During the reporting period, revenue from the retail chain business in lighting and designer label furniture was approximately HK$13,291,000, accounting for approximately 97.7% of the Group's total revenue[10]. - Revenue from the tableware, giftware, and other business was approximately HK$307,000, representing about 2.3% of the Group's total revenue[11]. - The Group's revenue for the reporting period was approximately HK$13,598,000, a decrease of approximately 24.5% from HK$18,007,000 in the corresponding period last year, primarily due to uncertainties in the Hong Kong retail environment and the COVID-19 pandemic[25][29]. - Revenue from the retail chain business in lighting and designer label furniture was approximately HK$13,291,000, representing a decrease of approximately 20.7% from HK$16,751,000 in the same period last year[26][30]. - Revenue from tableware, giftware, and other businesses was approximately HK$307,000, a significant decrease of approximately 75.6% from HK$1,256,000 in the corresponding period last year[27][31]. - Revenue for the three months ended June 30, 2020, was HK$13,598,000, a decrease of 24.4% compared to HK$18,007,000 for the same period in 2019[84]. Profitability and Expenses - The Group's gross profit was approximately HK$7,081,000, down approximately 30.6% from HK$10,209,000 in the same period last year, with an overall gross profit margin of approximately 52.1%[28][32]. - The company reported a loss before tax of HK$456,000 for the three months ended June 30, 2020, compared to a profit of HK$27,000 in 2019[84]. - Total comprehensive income attributable to owners of the company for the period was a loss of HK$381,000, compared to a profit of HK$23,000 in 2019[84]. - Basic and diluted loss per share was HK$0.08, compared to a profit of HK$0.01 per share in the previous year[84]. - Selling and distribution expenses were approximately HK$6,058,000, a decrease of approximately 11.1% from HK$6,813,000 in the corresponding period last year, mainly due to reduced rental and staff costs[34][38]. - Administrative and other expenses were approximately HK$3,006,000, down approximately 6.7% from HK$3,222,000 in the same period last year, primarily due to decreased rental and staff costs[35][39]. - Employee costs decreased to HK$3,647,000 for the three months ended June 30, 2020, down from HK$4,063,000 in 2019, representing a reduction of 10.2%[111]. - Costs of inventories recognized as expenses were HK$5,596,000 for the three months ended June 30, 2020, compared to HK$6,887,000 in 2019, reflecting a decrease of 18.7%[108]. - Depreciation for right-of-use assets increased to HK$2,925,000 in 2020 from HK$2,125,000 in 2019, indicating a rise of 37.7%[108]. Market Conditions and Future Outlook - The retail sales in Hong Kong have been declining for 17 consecutive months from February 2019 to June 2020 due to the COVID-19 pandemic[15]. - The Directors foresee increased uncertainty in the Hong Kong retail market due to the ongoing COVID-19 situation, but anticipate a gradual recovery in late 2020[16]. - The Group remains cautiously optimistic about future development, focusing on maintaining stable growth and enhancing competitiveness through prudent strategies and cost control[23]. - The Group will continue to monitor market trends and adapt to consumer needs while leveraging capital market support and global trends towards environmental sustainability[23]. - A new retail store was opened in Tsuen Wan in July 2020 to expand the retail network at a lower cost, aiming to increase market share[17]. Shareholding and Corporate Governance - As of June 30, 2020, Mr. Hui Kwok Keung Raymond holds 210,000,000 shares, representing approximately 46.56% of the total issued shares of the Company[55]. - Mr. Hue Kwok Chiu, as a beneficial owner, holds 45,000,000 shares, which is about 9.98% of the total issued shares[55]. - The total number of shares available for issue under the Share Option Scheme is 40,000,000 shares, accounting for approximately 8.87% of the total number of issued shares[68]. - No share options have been granted by the Company since the adoption of the Share Option Scheme[68]. - The shareholding structure indicates a significant concentration of ownership, with the top shareholder holding nearly half of the total shares[62]. - The Company is committed to attracting and retaining top talent through its Share Option Scheme, which is valid for ten years from its adoption date[67]. - The Audit Committee reviewed the unaudited consolidated results for the three months ended June 30, 2020, confirming compliance with applicable accounting standards and legal requirements[74]. - The Company has maintained a sufficient public float as of the date of the report[79]. - As of June 30, 2020, no other persons or corporations (excluding Directors and Chief Executives) had any interests or short positions in the shares of the Company recorded in the register[64]. - The Company did not have a compliance adviser after the engagement of Ample Capital Limited ended on June 30, 2017[69]. Compliance and Reporting Standards - The financial statements have been prepared in accordance with applicable Hong Kong Financial Reporting Standards[91]. - The company is currently evaluating the potential impact of new and revised Hong Kong Financial Reporting Standards that will come into effect in future periods[104].
壹照明(08222) - 2021 Q1 - 季度财报