Financial Performance - Revenue for the three months ended June 30, 2021, was approximately HKD 7.54 million, an increase of about 21.0% compared to HKD 6.22 million for the same period in 2020[4] - Gross profit for the same period was approximately HKD 6.06 million, representing a 24.5% increase from HKD 4.88 million in the previous year, with a gross margin of approximately 80.5%[8] - The net loss for the reporting period was approximately HKD 1.81 million, a reduction from HKD 3.19 million in the same period last year, primarily due to increased gross profit and reduced administrative expenses[8] - The company reported a loss before tax of HKD 1,809,000, an improvement from a loss of HKD 3,193,000 in the previous year, representing a 43.3% reduction in losses[58] - Basic and diluted loss per share improved to HKD 0.50 from HKD 0.89, reflecting a 43.8% decrease in loss per share[58] - The total equity as of June 30, 2021, was HKD 26,325,000, down from HKD 36,512,000 a year earlier, reflecting accumulated losses[61] - The company reported a loss attributable to equity holders of HKD 1,809,000 for the three months ended June 30, 2021, compared to a loss of HKD 3,193,000 for the same period in 2020, representing a 43.4% improvement year-over-year[79] Administrative Expenses - Administrative expenses decreased by approximately 16.5% to about HKD 6.6 million from HKD 7.9 million in the previous year, mainly due to reduced rent and no stock option costs incurred[10] - Administrative expenses decreased to HKD 6,595,000 from HKD 7,908,000, indicating a cost reduction strategy[58] Cash Flow and Capital Management - Cash and bank balances as of June 30, 2021, were approximately HKD 3.9 million, a decrease of about 31.6% from HKD 5.7 million in the same period last year[14] - The company has adopted a prudent cash flow management approach to safeguard its assets amid uncertain economic conditions[11] Shareholder Information - As of June 30, 2021, the company has a total of 270,000,000 shares held by Profit Ocean Enterprises Limited, representing 74.74% of the total issued shares[34] - The beneficial ownership of 3,200,000 shares by directors represents approximately 0.89% of the total issued shares[34] - The major shareholders include Profit Ocean, Tri-Luck, Wealth City, and others, each holding 74.74% of the shares[41] - As of June 30, 2021, the total issued share capital of Profit Ocean is equally owned by Tri-Luck, Wealth City, Tianjing, and Coastal Lion, each holding 25%[45] - The company has a total of 30,900,000 unexercised options as of June 30, 2021, with 1,250,000 options exercised during the period[49] Compliance and Governance - The audit committee, consisting of all independent non-executive directors, reviewed the unaudited consolidated results for the three months ended June 30, 2021, and found them compliant with applicable accounting standards[53] - All directors confirmed compliance with the established code of conduct regarding securities trading for the three months ended June 30, 2021[28] - The compliance advisor, appointed on April 1, 2020, confirmed no interests that require disclosure under GEM Listing Rules as of June 30, 2021[56] Business Outlook and Strategy - The company maintains a cautious outlook on the business environment due to the unpredictable nature of the COVID-19 pandemic[11] - The company continues to focus on retail trade of tea products, with no new product launches or significant market expansion mentioned in the report[64] - The company has not disclosed any future performance guidance or outlook in the current report[36] Dividends and Securities - The company has no plans to declare any dividends for the three months ended June 30, 2021[20] - The company did not purchase, sell, or redeem any of its listed securities during the three months ended June 30, 2021[29] - The company did not declare any dividends for the three months ended June 30, 2021, consistent with the previous year[78] Employee Information - The company had 56 employees as of June 30, 2021, with total employee costs amounting to approximately HKD 3.2 million, slightly down from HKD 3.3 million in the previous year[17] Share Option Plan - The company has a stock option plan adopted on March 14, 2018, which is referenced in the ownership details[35] - The share option plan was approved on March 14, 2018, to incentivize selected participants for their contributions to the group[48] - The company aims to reward contributions from various stakeholders, including full-time employees, consultants, and business partners, through its share option plan[48]
英记茶庄集团(08241) - 2022 Q1 - 季度财报