Financial Performance - Total revenue for the first quarter was approximately HKD 257.2 million, a decrease of about 12.0% compared to HKD 292.3 million in the same period last year[4] - The pre-tax loss for the period was approximately HKD 12.7 million, a reduction of about 36.8% from a pre-tax loss of HKD 20.1 million in the previous year[4] - Loss attributable to equity holders of the company was approximately HKD 14.4 million, down 29.1% from HKD 20.3 million in the same period last year[4] - Basic and diluted loss per share was approximately HKD 1.12, compared to HKD 1.58 in the same period last year[5] - Gross profit for the period was HKD 2.9 million, compared to a gross loss of HKD 5.3 million in the previous year[7] - Other income for the period was HKD 218,000, significantly lower than HKD 4.2 million in the same period last year[7] - Administrative expenses and finance costs totaled HKD 15.8 million, compared to HKD 19.0 million in the previous year[7] - The total comprehensive loss for the period was HKD 10.4 million, compared to HKD 18.1 million in the same period last year[9] - The company reported a foreign exchange gain of HKD 2.3 million for the period, compared to a gain of HKD 1.9 million in the previous year[9] Revenue Breakdown - Trade business revenue was HKD 250,317,000, down from HKD 290,254,000 in the previous year, primarily due to the cessation of new product trade activities[41] - Revenue from the petrochemical product storage business increased by approximately 305.9% to about HKD 6,904,000 from HKD 1,749,000 in 2020[42] - The cost of sales decreased by approximately 14.5% to about HKD 254,400,000 from HKD 297,600,000 in the previous year[43] Cost Management - The company continues to focus on cost management and operational efficiency to improve financial performance in the upcoming quarters[4] - Financing costs for the period included interest on bank loans and other borrowings amounting to HKD 92,000, down from HKD 5,589,000 in the previous year[29] - Financing costs for the period were approximately HKD 7,400,000, a decrease from approximately HKD 12,900,000 in 2020[47] Equity and Investments - As of March 31, 2021, the total equity attributable to the company's shareholders was approximately HKD 417,300,000, up from approximately HKD 405,500,000 as of December 31, 2020[48] - The group had approximately HKD 137,700,000 in pledged bank deposits as collateral for bank financing as of March 31, 2021, down from approximately HKD 218,600,000 as of December 31, 2020[49] - The company issued USD 55,000,000 guaranteed bonds with an annual interest rate of 2.4% for a term of three years, netting approximately USD 52,700,000 after expenses[50] - The group does not anticipate any major investments, acquisitions, or disposals of subsidiaries and associates during the period, aside from holding a 40% stake in Jiangsu Hairong[52] - The company plans to invest resources to enhance its trading business quality and seize integration opportunities with Jiangsu Yancheng Port Group[56] Market Outlook - The group expects improved US-China relations under the new US administration, although uncertainties remain, and is optimistic about global economic recovery due to COVID-19 vaccine rollout and economic stimulus policies[53] Corporate Governance - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with GEM listing rules[76] - The company is committed to maintaining high standards of corporate governance and has complied with all relevant codes during the reporting period[77] - The company has established an audit committee to oversee financial reporting and internal control systems[78] - The audit committee reviewed the first quarter financial statements, which comply with applicable accounting standards and GEM listing rules[78] Employee and Stakeholder Relations - The management expresses gratitude to all employees, business partners, customers, and shareholders for their continued support[82]
盐城港(08310) - 2021 Q1 - 季度财报