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华星控股(08237) - 2019 Q1 - 季度财报
LINK HOLDINGSLINK HOLDINGS(HK:08237)2019-05-15 10:32

Financial Performance - For the three months ended March 31, 2019, the group recorded revenue of approximately HKD 18.4 million, a decrease of about 13.6% compared to HKD 21.3 million for the same period in 2018[32] - Net profit for the review period was approximately HKD 1.8 million, down about 83% from HKD 10.3 million in the same period last year[32] - Earnings per share for the review period were HKD 0.052, compared to HKD 0.297 for the same period in 2018[32] - Gross profit for the same period was HKD 14,394,901, down from HKD 17,073,008, reflecting a decline in profitability[79] - The total comprehensive income for the period was HKD 9,070,657, down from HKD 14,181,966, a decrease of about 36.1%[79] - The group reported a profit before tax of HKD 1,800,855 for the three months ended March 31, 2019, compared to HKD 10,362,616 in the same period of 2018, indicating a significant decline[115] Revenue Breakdown - Room revenue was approximately HKD 9.0 million, accounting for about 48.9% of total revenue, down from 52.6% in the previous year[36] - Food and beverage revenue was approximately HKD 1.2 million, representing about 6.6% of total revenue, up from 0.9% in the previous year[39] - Rental income from hotel tenants was approximately HKD 1.5 million, accounting for about 8.2% of total revenue, compared to 7.5% in the previous year[39] - Revenue from non-performing debt assets was HKD 6.3 million, accounting for approximately 34.2% of total revenue[44] - Revenue from hotel operations was HKD 9,008,753, a decrease of 19.4% compared to HKD 11,166,645 in the previous year[95] - The revenue from bad debt assets classified as receivables was HKD 9,380,638, down from HKD 11,109,346, a decrease of approximately 15.6%[93] Operational Metrics - The occupancy rate for the review period was 61%, down from 69% in the same period last year[36] - Average room rate was HKD 547.2, a decrease from HKD 600.6 in the previous year[36] - Employee costs increased to HKD 3,852,866 from HKD 3,503,841, reflecting a rise of approximately 9.9%[103] - The group incurred tax expenses of HKD 497,991 during the review period, with no tax provision made for profits generated in Hong Kong[112] Corporate Governance - The board has recommended not to declare any quarterly dividend for the review period[32] - The company is committed to maintaining high standards of corporate governance to ensure transparency and protect shareholder interests[51] - The audit committee is responsible for reviewing and supervising the financial reporting process and risk management of the group[48] Future Outlook - The company is optimistic about future growth from existing and newly acquired businesses, focusing on land development in Mindan to enhance revenue and asset returns[45] - The company plans to leverage opportunities from the "Belt and Road" initiative to identify potential acquisition opportunities in China[45] - The company aims to expand its business footprint into Greater China and other Asian countries to capitalize on the growth in the tourism industry[45] Shareholding Structure - As of March 31, 2019, the company held 1,900,000,000 shares, representing 54.44% ownership through Vertic Holdings Limited[67] - CMI Financial Holding holds 690,000,000 shares, representing 19.77% ownership in the company[67] - CMI Hong Kong holds 76,600,000 shares, representing approximately 2.19% of the company's issued share capital[71] - The company maintained sufficient public float as of the report date[78] - There were no other individuals or companies with reportable interests in the company's shares as of March 31, 2019[74] Accounting and Reporting - The group expects no significant impact on its financial performance from the adoption of new accounting standards effective after January 1, 2019[92] - The board approved and authorized the release of financial data on May 15, 2019[119] - The first quarter report for 2019 was published by PB Huaxing Holdings Limited[120]