Financial Performance - Total revenue for the nine months ended September 30, 2021, was approximately HKD 714,400,000, a decrease of about 57.8% compared to HKD 1,694,500,000 for the same period in 2020[4] - The company reported a pre-tax loss of approximately HKD 45,000,000 for the nine months, a decline of about 107.0% from a pre-tax profit of HKD 641,000,000 in the same period of 2020[4] - Loss attributable to equity holders of the company was approximately HKD 46,400,000, a decrease of about 107.3% compared to a profit of HKD 638,000,000 in the same period of 2020[4] - Earnings per share for the period was approximately HKD 3.60 loss, compared to earnings of HKD 49.54 for the same period in 2020[4] - Revenue for the three months ended September 30, 2021, was HKD 212,557,000, down from HKD 432,490,000 in the same quarter of 2020[7] - Gross profit for the nine months was HKD 3,911,000, compared to HKD 11,609,000 in the same period of 2020[7] - The company experienced a significant decline in overall comprehensive income, reporting a total comprehensive loss of HKD 38,478,000 for the nine months ended September 30, 2021, compared to a comprehensive income of HKD 616,619,000 in the same period of 2020[9] - The company reported a loss attributable to equity holders of HKD 17,862,000 for the three months ended September 30, 2021, compared to a profit of HKD 664,460,000 in the same period of 2020[29] - The basic loss per share for the three months ended September 30, 2021, was HKD (1.38), compared to earnings of HKD 51.59 per share in the same period of 2020[29] Revenue Breakdown - For the three months ended September 30, 2021, the company's revenue from trading and petrochemical storage business was approximately HKD 212,557,000, a decrease of 50.8% compared to HKD 432,490,000 in the same period of 2020[17] - The revenue from trading business alone was HKD 206,303,000 for the three months ended September 30, 2021, down 51.7% from HKD 427,111,000 in the same period of 2020[17] - For the nine months ended September 30, 2021, total revenue was HKD 714,365,000, a decrease of 57.9% compared to HKD 1,694,533,000 in the same period of 2020[17] - The petrochemical storage business recorded a revenue increase of approximately 93.6% to about HKD 21,100,000, compared to HKD 10,900,000 in the same period last year, driven by increased storage capacity and business volume[36] Expenses and Losses - The company’s administrative expenses for the nine months were HKD 29,852,000, compared to HKD 16,667,000 in the same period of 2020[7] - The company reported a foreign exchange loss of HKD 4,982,000 during the period, impacting overall financial performance[10] - Financing costs were approximately HKD 17,500,000, down from HKD 33,200,000 in the same period last year, mainly due to the sale of a 60% stake in Jiangsu Hairong[42] - The cost of revenue also decreased by approximately 57.8% to about HKD 710,500,000, compared to HKD 1,682,900,000 in the same period last year[41] Corporate Governance and Compliance - The company maintains high corporate governance standards and has complied with all provisions of the GEM Listing Rules during the reporting period[73] - The company has adopted a code of conduct for securities trading by directors, with no known violations during the reporting period[72] - The audit committee reviewed the third-quarter financial statements, which were not audited by external auditors but deemed compliant with applicable accounting standards[74] - The company is committed to continuous improvement of its corporate governance practices to meet regulatory requirements and shareholder expectations[73] Strategic Initiatives and Future Outlook - The company will focus on streamlining operations and developing core businesses while identifying investment opportunities amid ongoing economic uncertainty due to COVID-19[53] - The company is considering strategic acquisitions to bolster its market position, with a budget of $10 million allocated for potential deals[79] - The company is investing $5 million in R&D for new technologies aimed at enhancing user experience[79] - Market expansion plans include entering two new regions, which are projected to increase user base by 15%[79] - The company provided a forward guidance of 10% revenue growth for Q4 2021, projecting revenues to reach approximately $165 million[79] Shareholder Information - Major shareholder Da Feng Port Overseas Investment Holdings owns 740,040,000 shares, representing approximately 57.46% of the company's issued share capital[61] - Jiang Wen and Li Qiuhua each hold 75,350,000 shares, accounting for 5.85% of the company's issued share capital[61] Dividends - The company did not recommend any interim dividend for the period, consistent with the previous year[25] - The company did not recommend any interim dividend for the period, consistent with the previous year[45] Market Conditions - The ongoing impact of COVID-19 continues to pose challenges to the global economy, affecting the company's operations[33] - The company has not generated taxable profits, thus no income tax has been incurred during the reporting period[23] - The company has not adopted any new or revised Hong Kong Financial Reporting Standards that would have a significant impact on its financial performance or position[15] Contingent Liabilities - The group had no major contingent liabilities as of September 30, 2021, consistent with the previous year[54]
大丰港(08310) - 2021 Q3 - 季度财报