Financial Performance - The company reported a revenue of HKD 27,143,000 for the first quarter of 2021, compared to HKD 32,701,000 in the same period of 2020, representing a decrease of approximately 17%[8] - Gross profit for the first quarter of 2021 was HKD 3,327,000, an increase from HKD 2,679,000 in the previous year, indicating a growth of about 24%[8] - Operating profit decreased to HKD 367,000 in Q1 2021 from HKD 802,000 in Q1 2020, reflecting a decline of approximately 54%[8] - The company recorded a net profit attributable to owners of HKD 226,000 for the first quarter of 2021, down from HKD 334,000 in the same quarter of 2020, a decrease of around 32%[8] - Basic and diluted earnings per share were HKD 0.13 for Q1 2021, compared to HKD 0.56 in Q1 2020, representing a decline of approximately 77%[6] - The group recorded a net profit of approximately HKD 226,000 for the three months ended June 30, 2021, down from HKD 334,000 in the same period of 2020, reflecting a decline of 32.3%[33] - The group's earnings per share for the three months ended June 30, 2021, was HKD 0.13, down from HKD 0.56 in the same period of 2020[33] - The group recorded a profit attributable to owners of approximately HKD 0.2 million for the three months ended June 30, 2021, compared to HKD 0.3 million for the same period in 2020[48] Revenue and Expenses - The group's revenue for the three months ended June 30, 2021, was HKD 27,143,000, a decrease of 15.9% compared to HKD 32,182,000 in the same period of 2020[20] - The group's revenue for the three months ended June 30, 2021, was approximately HKD 27.1 million, a decrease of about 17.1% compared to HKD 32.7 million for the same period in 2020[42] - The cost of sales for the same period was approximately HKD 23.8 million, a decrease of about 20.6% from HKD 30.0 million in the previous year, primarily due to a reduction in the number of ongoing projects[43] - Administrative expenses rose to HKD 3,209,000 in Q1 2021 from HKD 2,650,000 in Q1 2020, marking an increase of about 21%[8] - Administrative expenses for the same period were approximately HKD 3.2 million, an increase of about 18.5% from HKD 2.7 million in the previous year, mainly due to rising automobile expenses, consulting fees, and employee costs[47] - The group incurred financing costs of HKD 251,000 for the three months ended June 30, 2021, down 37.8% from HKD 404,000 in the same period of 2020[28] Other Income and Comprehensive Income - Other comprehensive income for the period was HKD (249,000), compared to HKD (3,000) in the previous year, indicating a significant increase in losses[5] - The group recognized other income of HKD 249,000 in the three months ended June 30, 2021, compared to HKD 773,000 in the same period of 2020, indicating a decrease of 67.8%[24] Investments and Operational Focus - The company has invested significantly in machinery and equipment necessary for its drilling operations, indicating a focus on enhancing operational capabilities[13] - The group has invested significantly in machinery and equipment necessary for its drilling operations, indicating a focus on enhancing operational capabilities[40] - The company is engaged in foundation engineering and has a range of drilling pile installation capabilities, which may support future growth opportunities[13] Industry Outlook and Challenges - The overall outlook for the industry remains challenging due to ongoing COVID-19 impacts, including supply chain disruptions and labor shortages[41] Corporate Governance and Compliance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance and transparency in financial reporting[15] - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ended June 30, 2021, and found them compliant with applicable accounting standards and GEM listing rules[74] - The company did not purchase, sell, or redeem any of its listed securities during the three months ended June 30, 2021[65] - There were no competitive or conflict of interest activities involving directors or major shareholders during the three months ended June 30, 2021[66] - The company has adopted trading rules for directors' securities transactions and confirmed compliance during the three months ended June 30, 2021[67] - No stock options were granted, exercised, expired, or lapsed during the three months ended June 30, 2021, and there are no unexercised stock options under the plan[71] Dividends - The group did not declare an interim dividend for the three months ended June 30, 2021, consistent with the previous year[32] - The board did not recommend the payment of an interim dividend for the three months ended June 30, 2021, compared to zero dividend for the same period in 2020[49] Rights Issue - The company announced a rights issue on January 25, 2021, to raise approximately HKD 28.35 million by issuing 135,000,000 shares at HKD 0.21 each[50] - The net proceeds from the rights issue, after estimated expenses, are expected to be approximately HKD 25 million, to be used for repaying overdue payables and bank loans[50] Customer Revenue - The group reported a significant decrease in revenue from major customers, with Customer 1 contributing HKD 8,862,000 in 2021 compared to HKD 18,556,000 in 2020, a drop of 52.3%[23]
中国新消费集团(08275) - 2022 Q1 - 季度财报