Financial Performance - For the nine months ended December 31, 2020, the company's revenue was HKD 310,219,000, a decrease of 38.8% compared to HKD 507,714,000 for the same period in 2019[5] - The gross profit for the nine months was HKD 20,777,000, down 33.7% from HKD 31,235,000 in the previous year[5] - The company reported a loss before tax of HKD 1,122,000 for the nine months, compared to a profit of HKD 5,245,000 in the same period of 2019[5] - The net loss attributable to the owners of the company for the nine months was HKD 1,727,000, compared to a profit of HKD 3,736,000 in 2019[5] - Basic loss per share for the nine months was HKD 0.17, down from earnings of HKD 0.37 per share in the previous year[5] - The company recorded total administrative expenses of HKD 25,383,000 for the nine months, a decrease of 10.3% from HKD 28,323,000 in 2019[5] - Other income and gains for the nine months were HKD 4,007,000, significantly higher than HKD 1,633,000 in the previous year[5] - The financial costs for the nine months were HKD 513,000, compared to HKD 201,000 in the previous year, indicating an increase in financial expenses[5] - The effective tax rate for the nine months ended December 31, 2020, remained at 16.5%, consistent with the previous year[37] Revenue Breakdown - The company experienced a significant decline in revenue for the third quarter, reporting HKD 123,180,000 compared to HKD 200,756,000 in the same quarter of 2019, a decrease of 38.6%[5] - The construction business segment generated revenue of HKD 121,593,000 for the three months ended December 31, 2020, while the securities investment segment contributed HKD 1,533,000[23] - The total revenue from the construction segment for the nine months ended December 31, 2020, was HKD 307,033,000, compared to HKD 5,396,000 from the securities investment segment[23] - Customer contract revenue for the three months ended December 31, 2020, was HKD 121,593,000, a decrease of 37.2% compared to HKD 193,901,000 in the same period of 2019[29] - The revenue from building construction projects for the three months ended December 31, 2020, was HKD 15,826,000, a decline of 83.0% from HKD 93,182,000 in 2019[31] - The revenue from mechanical and electrical engineering for the three months ended December 31, 2020, increased to HKD 49,320,000, up 124.4% from HKD 22,049,000 in 2019[31] - The construction segment generated revenue of approximately HKD 303,927,000, down approximately 40% from HKD 503,888,000 in the previous year[51] - The securities investment segment recorded revenue of approximately HKD 5,396,000, an increase of about 53% from HKD 3,516,000 in the prior year[51] - The property investment segment's revenue was approximately HKD 40,000, a decrease of about 87% from approximately HKD 310,000 in the same period last year[51] - The lending business generated revenue of approximately HKD 856,000, whereas there was no revenue in the same period last year[51] Strategic Initiatives - The company is focusing on strategic initiatives to improve operational efficiency and explore new market opportunities moving forward[5] - The group aims to attract larger corporate clients and diversify its customer base, leveraging its strong track record and expertise in general contracting[85] - The group will continue to adopt a prudent bidding strategy for new construction contracts[85] - The group is actively seeking investment opportunities in listed securities and other financial products to generate additional income[86] - The group believes that its lending business will have a positive impact and return despite increased competition in the market[89] - The group is committed to expanding its construction business in Hong Kong and Macau[82] - The group plans to recruit more qualified and experienced staff to strengthen its construction division[85] Corporate Governance - The company has established an audit committee to review and supervise financial controls, internal controls, and risk management systems[115] - The company has adopted the corporate governance code as per GEM listing rules to enhance transparency and accountability to shareholders[114] - The audit committee is composed of three independent non-executive directors[115] - The company is committed to maintaining high standards of corporate governance to enhance confidence among stakeholders[114] - The board of directors consists of executive directors and independent non-executive directors, ensuring independence in business operations[117] Acquisitions and Investments - The company completed the acquisition of an industrial property with a total saleable floor area of approximately 3,565 square feet for HKD 14,700,000[117] - The company also completed the acquisition of a commercial property with a total saleable floor area of approximately 1,095 square feet for HKD 15,000,000[117] - The group generated approximately HKD 28,800,000 from the sale of listed securities, with realized gains of about HKD 2,700,000 during the nine months ended December 31, 2020[95] - The investment in Hong Kong Education (International) Investment Group Limited yielded proceeds of HKD 2,868,000 and realized gains of HKD 991,000[95] - The net asset value of Hong Kong Education (International) Investment Group Limited was approximately HKD 107,949,000 as of June 30, 2020[1] - The net asset value of 恒達科技控股有限公司 was approximately RMB 598,224,000 as of June 30, 2020[3] - The net asset value of 恒新豐控股有限公司 was approximately HKD 232,443,000 as of June 30, 2020[1] Shareholder Information - The company has not issued any share options during the reporting period, and there were no unexercised options as of December 31, 2020[100] - The maximum number of unexercised share options that can be granted under the share option scheme is capped at 10% of the issued shares at any time[96] - Energy Luck Limited, controlled by Mr. Wang Ju Cheng, holds 167,302,082 shares, representing 16.73% of the company's issued share capital[103] - There were no other significant interests or short positions in the company's shares or related securities as of December 31, 2020[104] - No directors traded the company's securities during the reporting period[112] - The company did not purchase, sell, or redeem any of its listed securities during the nine months ending December 31, 2020[113] Financial Position - As of December 31, 2020, the group's cash and cash equivalents amounted to HKD 170,265,000, up from HKD 107,689,000 as of March 31, 2020[72] - The group has no significant contingent liabilities as of the reporting period end[74] - The total contract amount on hand exceeds HKD 1,378,000,000[83] - The group holds financial assets at fair value amounting to approximately HKD 35,976,000 as of December 31, 2020[91]
智城发展控股(08268) - 2021 Q3 - 季度财报