Financial Performance - Total revenue for the first quarter of 2021 was HKD 4,444,000, a decrease of 44.5% compared to HKD 7,969,000 in the same period of 2020[4] - Gross profit for the first quarter of 2021 was HKD 3,947,000, down 47.9% from HKD 7,588,000 year-on-year[4] - The company reported a profit before tax of HKD 4,070,000, compared to a loss of HKD 3,214,000 in the first quarter of 2020[4] - Net profit for the period was HKD 3,396,000, a significant recovery from a loss of HKD 3,214,000 in the previous year[4] - Basic and diluted earnings per share for the first quarter of 2021 were HKD 2.56, compared to a loss per share of HKD 2.80 in the same quarter of 2020[4] - Other income, gains, and losses totaled HKD 4,800,000, a turnaround from a loss of HKD 6,954,000 in the first quarter of 2020[4] - The company recorded a net profit of approximately HKD 3,400,000 for the first quarter of 2021, a significant improvement from a net loss of HKD 3,200,000 in the same period of 2020[31] Revenue Breakdown - Total revenue for the first quarter of 2021 decreased to approximately HKD 4,400,000, a decline of about 44% from HKD 8,000,000 in 2020, primarily due to the impact of the COVID-19 pandemic[31] - The securities brokerage, underwriting, and placement segment generated revenue of approximately HKD 2,000,000, down from HKD 5,300,000 in the previous year, accounting for 44.1% of total revenue[23] - Loan interest income from lending activities was approximately HKD 2,300,000, compared to HKD 2,500,000 in 2020, representing 52.4% of total revenue[26] - The property investment segment generated rental income of approximately HKD 200,000, unchanged from the previous year, accounting for 3.5% of total revenue[28] Expenses - The company incurred administrative expenses of HKD 4,410,000, an increase of 23% from HKD 3,588,000 in the previous year[4] - Financial expenses for the quarter were HKD 267,000, slightly up from HKD 260,000 in the same period last year[15] - Administrative expenses increased by approximately 22.9% to HKD 4,400,000, primarily due to higher employee costs and marketing expenses[31] Taxation - The effective tax rate applied was based on the two-tiered profits tax system, with a tax expense of HKD 674,000 for the quarter[16] Dividends - The company did not declare or recommend any dividends for the period ending March 31, 2021, consistent with the previous year[20] Investments and Acquisitions - The company acquired 49% of the equity in a subsidiary for HKD 200,000, which is now no longer a related party[6] - The fair value of listed equity investments held by the company was approximately HKD 36,200,000, down from HKD 39,300,000 in 2020, with unrealized gains of HKD 2,200,000 compared to a loss of HKD 8,700,000 in the previous year[27] Future Plans - The company plans to continue developing existing businesses while actively exploring new business areas and investment opportunities[32] Governance - The audit committee reviewed the unaudited financial results for the three months ending March 31, 2021, and confirmed that the financial statements were prepared in accordance with applicable accounting standards[39] - The board of directors consists of five members, including three independent non-executive directors[39] - The report will be published on the GEM website and the company's website for at least 7 days[39]
树熊金融集团(08226) - 2021 Q1 - 季度财报