Financial Performance - For the nine months ended December 31, 2020, the group recorded unaudited revenue of approximately HKD 33,000,000, a decrease of about 43.5% compared to HKD 58,400,000 for the same period in 2019[6]. - The group reported an unaudited loss attributable to owners of the company of approximately HKD 1,200,000 for the nine months ended December 31, 2020, compared to a loss of HKD 21,600,000 for the same period in 2019[6]. - Basic and diluted loss per share attributable to owners of the company was HKD 0.04 for the nine months ended December 31, 2020, compared to HKD 0.82 for the same period in 2019[6]. - For the three months ended December 31, 2020, the group recorded unaudited revenue of HKD 11,136,000, down from HKD 14,305,000 for the same period in 2019[9]. - The gross profit for the nine months ended December 31, 2020, was HKD 26,140,000, compared to HKD 46,778,000 for the same period in 2019[9]. - Operating profit for the nine months ended December 31, 2020, was HKD 578,000, compared to an operating loss of HKD 19,706,000 for the same period in 2019[9]. - The group reported a total comprehensive income of HKD 565,000 for the nine months ended December 31, 2020, compared to a total comprehensive loss of HKD 22,583,000 for the same period in 2019[9]. - The total comprehensive loss for the period was HKD 22,583,000, compared to a loss of HKD 21,602,000 in the previous period[12]. - The accumulated losses as of December 31, 2020, reached HKD 86,366,000, reflecting a significant increase from HKD 41,110,000 as of December 31, 2019[12]. - The company reported a loss attributable to owners of HKD 23,000 for the three months ended December 31, 2020, compared to a loss of HKD 11,116,000 in the same period of 2019, showing an improvement in performance[33]. Cost Management - The group experienced a significant reduction in employee costs, which were HKD 15,627,000 for the nine months ended December 31, 2020, down from HKD 27,601,000 for the same period in 2019[9]. - The group recorded a decrease in administrative expenses to HKD 14,007,000 for the nine months ended December 31, 2020, compared to HKD 16,231,000 for the same period in 2019[9]. - Financial costs for the nine months ended December 31, 2020, amounted to HKD 726,000, a decrease of 53.8% from HKD 1,567,000 in the same period of 2019[26]. - The cost of goods sold decreased by approximately 40.5% from about HKD 11.6 million to about HKD 6.9 million during the same periods[53]. - Employee benefits expenses, including salaries and allowances, totaled HKD 4,946,000 for the three months ended December 31, 2020, down from HKD 8,325,000 in the same period of 2019, reflecting a reduction of approximately 40.5%[27]. - Depreciation expenses for the nine months ended December 31, 2020, were approximately HKD 3,200,000, a decrease of about 83.6% compared to HKD 19,500,000 for the same period in 2019, primarily due to a reduction in the number of operating restaurants and impairment losses recognized[62]. - Property rental and related expenses for the nine months ended December 31, 2020, were approximately HKD 1,200,000, down about 45.5% from HKD 2,200,000 in the same period of 2019, mainly due to a decrease in the number of operating restaurants[63]. - Fuel and utility expenses decreased by approximately 45.5% to HKD 1,200,000 for the nine months ended December 31, 2020, from HKD 2,200,000 in the same period of 2019, attributed to reduced revenue due to the pandemic[64]. - Administrative expenses decreased by approximately 13.6% to HKD 14,000,000 for the nine months ended December 31, 2020, from HKD 16,200,000 in the same period of 2019, mainly due to reductions in travel and transportation costs[65]. - Income tax expenses for the nine months ended December 31, 2020, were approximately HKD 400,000, a decrease of about 66.7% from HKD 1,200,000 in the same period of 2019, primarily due to a reduction in taxable profits from several restaurants[67]. Impact of COVID-19 - The ongoing COVID-19 pandemic has introduced significant uncertainty into the company's operating environment, impacting its operations and financial condition[39]. - The financial impact of the COVID-19 outbreak on the company's operations remains uncertain and cannot be fully estimated at this time[40]. - The impact of the pandemic has led to a significant reduction in customer visits and dining demand, affecting overall financial performance[49]. - The company is actively seeking financial support from the Hong Kong government’s anti-epidemic fund and is negotiating to reduce restaurant rental costs[39]. - The company plans to reassess the operational performance of each restaurant and adjust future expansion plans accordingly[39]. - The company has adopted a conservative business strategy in response to the economic uncertainty caused by the pandemic[49]. - The company recorded a loss of approximately HKD 600,000 for the nine months ended December 31, 2020, significantly reduced from a loss of HKD 22,600,000 in the same period of 2019, mainly due to government subsidies and rent reductions[69]. Shareholder Information - As of December 31, 2020, the company had a total of 1,500,000,000 shares held by Fortune Round Limited, representing 56.7% ownership[104]. - Key shareholders include Li Chi Keung with 317,280,000 shares, representing 12.0% ownership[108]. - The company’s major shareholders include Wong Hoi Ping, who also holds 12.0% through Keenfull Investments Limited[108]. - The company did not purchase, sell, or redeem any shares during the review period[101]. - No stock options were granted during the nine-month period ending December 31, 2020[114]. - As of December 31, 2020, there were 60,000,000 unexercised stock options remaining[114]. Compliance and Governance - The financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[17]. - The company has applied new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the reported amounts[18]. - The company has adopted a code of conduct for directors regarding securities trading, ensuring compliance with GEM Listing Rules[116]. - The Audit Committee, established in accordance with GEM Listing Rules, is responsible for reviewing financial statements and overseeing internal control effectiveness[117]. - The Audit Committee consists of three independent non-executive directors, with Mr. Ma Yiu Ho serving as the chairman[117]. Business Strategy - The company continues to focus on its core business of providing leisure dining services in Hong Kong[16]. - The group aims to strengthen its position in operating restaurants at Hong Kong International Airport and diversify its business in urban Hong Kong, seeking opportunities to introduce popular restaurant brands through franchises or partnerships[94]. - Due to economic recession and the pandemic, the group has adopted a conservative business strategy to support daily operations and manage uncertainties in the market[96]. - The group plans to maintain sufficient working capital to support daily operations while closely monitoring business trends for potential growth opportunities[96].
皇玺集团(08300) - 2021 Q3 - 季度财报