Financial Performance - For the three months ended June 30, 2020, the group recorded unaudited revenue of approximately HKD 12,100,000, a decrease of about 43.2% compared to HKD 21,300,000 for the same period in 2019[5] - The group reported an unaudited loss attributable to owners of the company of approximately HKD 800,000, compared to a loss of HKD 4,100,000 for the same period in 2019[5] - Basic and diluted loss per share attributable to owners of the company was HKD 0.03, an improvement from HKD 0.16 for the same period in 2019[5] - The group achieved a gross profit of HKD 9,619,000, down from HKD 17,139,000 in the previous year[9] - Operating profit for the period was HKD 177,000, a significant improvement from an operating loss of HKD 3,184,000 in the same period last year[9] - The total comprehensive loss for the period was HKD 554,000, compared to HKD 3,873,000 in the same period last year[9] - The company reported a loss attributable to owners of HKD 828,000 for the three months ended June 30, 2020, compared to a loss of HKD 4,107,000 in the same period of 2019, indicating an improvement in performance[33] Revenue and Costs - The company's revenue decreased by approximately 43.2% from about HKD 21,300,000 for the three months ended June 30, 2019, to about HKD 12,100,000 for the same period in 2020[49] - The cost of goods sold for the same period was HKD 2,461,000, down from HKD 4,159,000 in 2019, reflecting a 41% reduction[27] - The cost of goods sold decreased by approximately 40.5% from about HKD 4,200,000 to about HKD 2,500,000 during the same periods[50] - Gross profit fell by approximately 43.9% from about HKD 17,100,000 to about HKD 9,600,000, primarily due to the decrease in revenue[51] Expenses - The group incurred total administrative expenses of HKD 6,355,000, compared to HKD 5,211,000 in the previous year[9] - Employee benefit expenses, including directors' remuneration, were HKD 5,504,000 for the three months ended June 30, 2020, down from HKD 9,363,000 in 2019, a decrease of 41%[27] - The total finance costs decreased to HKD 294,000 in 2020 from HKD 485,000 in 2019, representing a 39% reduction[25] - Depreciation expenses fell by about 77.6% from HKD 4,900,000 to HKD 1,100,000, primarily due to a decrease in the number of operating restaurants as a result of the pandemic[55] - Property rental and related expenses decreased by approximately 42.9% from HKD 700,000 to HKD 400,000, attributed to fewer operating restaurants during the pandemic[57] - Fuel and utility expenses dropped by 50.0% from HKD 800,000 to HKD 400,000, mainly due to reduced revenue caused by the pandemic[58] - Administrative expenses increased by approximately 23.1% from HKD 5,200,000 to HKD 6,400,000, primarily due to higher marketing and promotional costs[59] Tax and Other Income - The company incurred a tax expense of HKD 434,000 for the three months ended June 30, 2020, compared to HKD 185,000 in 2019, reflecting an increase of 134%[30] - The group recorded other income of HKD 4,327,000, a substantial increase from HKD 646,000 in the previous year[9] - Other income increased by approximately 616.7% from about HKD 646,000 to about HKD 4,327,000, mainly due to government subsidies and rent concessions[53] Market and Operations - The company continues to operate solely in Hong Kong, with all revenue generated from this market[21] - The company has six operating restaurants as of June 30, 2020, including "Chinese Kitchen," which has been temporarily closed since February 10, 2020[41] - The ongoing uncertainty regarding the COVID-19 pandemic has made it difficult to estimate its full financial impact on the company[39] - The company will adopt a conservative business strategy to support daily operations and seek opportunities to strengthen its position in the Hong Kong International Airport restaurant market[48] - The group aims to consolidate its position in operating restaurants at Hong Kong International Airport and diversify its business in urban areas, while adopting a conservative business strategy due to economic uncertainties[83] Shareholder Information - As of June 30, 2020, Fortune Round Limited holds 1,500,000,000 shares, representing 56.7% of the company's equity[95] - Keenfull Investments Limited owns 317,280,000 shares, accounting for 12.0% of the company's equity[95] - The company has a stock option plan adopted on July 21, 2016, with a total of 60,000,000 shares available for subscription at an exercise price of HKD 0.163 per share[100] - No stock options were exercised during the three-month period ending June 30, 2020[101] - The company has a total of 60,000,000 unexercised stock options as of June 30, 2020[102] Compliance and Governance - The audit committee, consisting of three independent non-executive directors, reviewed the financial statements for the quarter ending June 30, 2020[105] - The company confirmed compliance with the trading standards for directors during the three-month period ending June 30, 2020[104] - The company has not disclosed any additional interests or short positions in its shares as of June 30, 2020[99] Financial Position - The group’s total equity as of June 30, 2020, was HKD 57,546,000, down from HKD 128,268,000 as of June 30, 2019[12] - Cash and cash equivalents decreased by approximately 54.3% from HKD 81,900,000 to HKD 37,400,000, primarily due to loan repayments and operational support during the pandemic[72] - As of June 30, 2020, the total borrowings of the group amounted to approximately HKD 20.7 million, a decrease from HKD 47 million as of June 30, 2019[74] - The capital-to-debt ratio as of June 30, 2020, was approximately 35.7%, down from 39.8% as of June 30, 2019, primarily due to a reduction in lease liabilities and bank borrowings[76] - The group had no significant contingent liabilities as of June 30, 2020, compared to zero in the same period of 2019[78] - The group will continue to manage expenses prudently and seek market opportunities to improve financial performance[84] - The group has no foreign exchange contracts or financial derivatives for hedging purposes as of June 30, 2020[82]
皇玺集团(08300) - 2021 Q1 - 季度财报