Financial Performance - The group recorded revenue of approximately HKD 14.7 million for the three months ended March 31, 2019, a slight decrease of about 2.7% compared to HKD 15.1 million for the same period in 2018[4] - The group reported a loss attributable to owners of approximately HKD 0.5 million for the three months ended March 31, 2019, compared to a profit of approximately HKD 1.3 million for the same period in 2018[4] - Revenue for the group decreased from approximately HKD 15.1 million to HKD 14.7 million, a slight decline of about 2.7% for the three months ending March 31, 2019[20] - For the three months ended March 31, 2019, the company reported revenue of HKD 14,741,000, a decrease of 2.2% compared to HKD 15,079,000 for the same period in 2018[41] - The total profit before tax for the three months ended March 31, 2019, was a loss of HKD 332,000, compared to a profit of HKD 1,565,000 in the same period of 2018[64] - The company reported a loss of HKD 464,000 during the period, contributing to a cumulative loss of HKD 19,815,000[43] Income and Expenses - Other income increased by approximately 49.0% to HKD 362,000 for the three months ended March 31, 2019, up from HKD 243,000 for the same period in 2018, primarily due to increased bank interest income[6] - Employee costs rose by approximately 5.8% to HKD 11.0 million for the three months ended March 31, 2019, from HKD 10.4 million for the same period in 2018, mainly due to an increase in average headcount[7] - Other expenses increased by approximately 26.5% to HKD 4.3 million for the three months ended March 31, 2019, compared to HKD 3.4 million for the same period in 2018, driven by higher advertising and professional fees[9] - The cost of goods sold was HKD (18,000), resulting in a gross loss[41] - Employee costs and related expenses increased to HKD (10,984,000) from HKD (10,381,000), representing a rise of 5.8% year-over-year[41] - Research and development costs included in employee costs and related expenses amounted to HKD 3,215,000 for the three months ended March 31, 2019, compared to HKD 2,694,000 in the previous year, indicating a rise of 19.4%[69] - Advertising and marketing expenses increased to HKD 756,000 in the first quarter of 2019 from HKD 540,000 in 2018, marking an increase of 40.0%[71] Share Capital and Equity - The issued share capital of the company was HKD 20.0 million, divided into 2,000,000,000 shares with a par value of HKD 0.01 each as of March 31, 2019[16] - As of March 31, 2019, total equity amounted to HKD 76,769,000, a decrease from HKD 77,152,000 at the beginning of the period[43] - As of March 31, 2019, the company had issued 2 billion shares, with All Divine Investments Limited holding 1.5 billion shares, representing 75% of the issued shares[28] Market and Business Development - The global data backup software market is experiencing growth due to increased investment in data backup systems, driven by risks such as hardware failure and data breaches[20] - The group is expanding its international market presence, having signed a memorandum of understanding with Orangetech Co., Ltd. to enhance distribution channels in South Korea[21] - A capital injection of KRW 250 million (approximately HKD 1.7 million) was agreed upon to acquire a 50% stake in Ahsay Korea Co. Limited, aimed at expanding core backup business in South Korea[23] - The launch of AhsayTM Backup Software Version 8 in January 2019 introduced new features, including SharePoint Online backup, enhancing existing Office 365 backup capabilities[24] - The group aims to focus on developing additional value-added features and services for existing customers to maintain competitive advantage in the market[24] - KINTIPS, an online information sharing platform, has been launched, although its revenue contribution was not significant as of March 31, 2019[25] Compliance and Governance - The audit committee reviewed the financial information for the three months ended March 31, 2019, ensuring compliance with applicable accounting standards and regulations[39] - The financial statements are prepared in accordance with the GEM listing rules, ensuring compliance with applicable disclosure requirements[49] - The company adopted new accounting standards effective January 1, 2019, which may impact financial reporting[50] - The company has not reclassified prior year figures under the new accounting standards, which may affect comparability[53] Taxation - The effective tax rate for the company's subsidiaries in Hong Kong is 8.25% on the first HKD 2 million of estimated taxable profits and 16.5% on profits exceeding HKD 2 million[75] - The company has no taxable profits in China, thus no tax provisions were made for the periods ended March 31, 2019, and 2018[75] - The company's current tax expense for Hong Kong profits tax was HKD 146,000 for the three months ended March 31, 2019, down from HKD 175,000 in 2018[9] - Deferred tax expense for the three months ended March 31, 2019, was a credit of HKD (14,000), compared to a charge of HKD 74,000 in 2018[9] - The total tax expense for the group for the three months ended March 31, 2019, was HKD 132,000, a decrease from HKD 249,000 in 2018[9] Other Information - There were no significant acquisitions or disposals during the three months ended March 31, 2019[18] - The group did not have any major capital commitments or contingent liabilities as of March 31, 2019[17] - The company has not purchased, redeemed, or sold any of its listed securities during the reporting period[37] - The company has no potential ordinary shares outstanding, thus no diluted loss per share is presented[78]
亚势备份(08290) - 2019 Q1 - 季度财报