Financial Performance - The group's consolidated revenue for the nine months ended December 31, 2018, was approximately HKD 34.7 million, representing a growth of about 3.9% compared to HKD 33.4 million for the same period in 2017[7]. - Gross profit for the same period was approximately HKD 27.2 million, an increase of about 3.0%, with a gross profit margin of approximately 78.5%, slightly down from 79.0% in the previous year[7]. - The net loss for the period was approximately HKD 1.4 million, an improvement from a net loss of HKD 1.9 million in the same period of 2017, primarily due to non-recurring listing expenses of approximately HKD 4.0 million[7]. - For the nine months ended December 31, 2018, the company's revenue was HKD 34,701,000, an increase of 3.83% compared to HKD 33,417,000 for the same period in 2017[50]. - The gross profit for the nine months ended December 31, 2018, was HKD 27,237,000, representing a gross margin of 78.5%[50]. - The net loss for the nine months ended December 31, 2018, was HKD 1,353,000, compared to a net loss of HKD 1,900,000 for the same period in 2017, indicating an improvement[50]. - Basic and diluted loss per share for the nine months ended December 31, 2018, was HKD 0.38, compared to HKD 0.70 for the same period in 2017[50]. - The pre-tax profit for the nine months ended December 31, 2018, was a loss of HKD 1,353,000, compared to a loss of HKD 1,900,000 for the same period in 2017[68]. Expenses and Costs - Administrative expenses increased significantly due to new hires and ongoing listing maintenance costs, impacting net profit when excluding listing costs[9][11]. - The company's operating lease expenses for the nine months ended December 31, 2018, included minimum lease payments of HKD 6,489,000, up from HKD 5,931,000 in the same period of 2017[63]. - The income tax expense for the nine months ended December 31, 2018, was HKD 934,000, compared to HKD 1,472,000 for the same period in 2017[65]. - The cost of goods sold for the nine months ended December 31, 2018, was HKD 6,471,000, an increase from HKD 6,197,000 in the same period of 2017[63]. - The auditor's remuneration for the nine months ended December 31, 2018, was HKD 245,000, significantly higher than HKD 30,000 for the same period in 2017[63]. - The company incurred listing expenses of HKD 4,000,000 for the nine months ended December 31, 2018, down from HKD 9,212,000 in the same period of 2017[63]. Assets and Liabilities - As of December 31, 2018, the group's current assets net value was approximately HKD 40.2 million, a significant increase of about 5,642.9% from HKD 0.7 million on March 31, 2018[15]. - Cash and bank balances increased to approximately HKD 29.8 million, up about 751.4% from HKD 3.5 million on March 31, 2018, primarily due to funds received from the IPO[15]. - The debt-to-equity ratio improved to 7.4% as of December 31, 2018, down from approximately 760.7% on March 31, 2018, following the repayment of bank loans and issuance of new shares[16]. - The total equity as of December 31, 2018, was HKD 42,631,000, an increase from HKD 3,390,000 as of December 31, 2017[51]. - As of December 31, 2018, the group had no significant contingent liabilities[26]. - As of December 31, 2018, the group had no assets pledged as collateral[27]. Corporate Governance and Management - The group maintained high standards of corporate governance and complied with the GEM Listing Rules during the reporting period[29]. - The board of directors did not recommend the distribution of dividends for the nine months ended December 31, 2018, compared to HKD 2.0 million for the same period in 2017[25]. - The company did not purchase, sell, or redeem any of its listed securities during the nine months ended December 31, 2018[31]. - The company did not grant any financial assistance or guarantees to any controlling shareholders during the nine months ended December 31, 2018[43]. - The company has adopted a board diversity policy for the nomination and appointment of new directors, considering various diversity aspects[44]. - The audit committee reviewed the financial results for the nine months ended December 31, 2018, and confirmed compliance with applicable accounting standards[46]. - The company has appointed KGI Asia Limited as its compliance advisor, with no interests reported in the company's equity as of December 31, 2018[47]. - The company was listed on the GEM of the Hong Kong Stock Exchange on April 16, 2018, following a restructuring process[54]. Employee and Training - As of December 31, 2018, the total employee cost for the group was approximately HKD 10.8 million, an increase of 44% compared to HKD 7.5 million for the same period in 2017[24]. - The group provided various training programs for employees to enhance their skills[24]. Business Development - The group opened two new counters in shopping malls, contributing to expected steady business growth despite potential economic uncertainties due to the ongoing US-China trade tensions[14]. - Tea product sales for the nine months ended December 31, 2018, reached HKD 34,701,000, an increase of 3.83% compared to HKD 33,417,000 for the same period in 2017[60]. - Capital expenditures for the nine months ended December 31, 2018, were approximately HKD 2.0 million, mainly for the furniture and fixtures of the new counters[17]. Shareholding Structure - As of December 31, 2018, the directors and senior management held a total of 270,000,000 shares, representing 75% of the company's total shares[34]. - Profit Ocean Enterprises Limited, the major shareholder, held 270,000,000 shares, also representing 75% of the total shares[36]. Events and Contingencies - There were no significant events after the reporting period that would affect the group's performance for the nine months ended December 31, 2018[28].
英记茶庄集团(08241) - 2019 Q3 - 季度财报