Financial Performance - Revenue for the three months ended June 30, 2021, was HKD 14,854,000, a decrease of 19.0% compared to HKD 18,474,000 for the same period in 2020[3] - Gross profit for the same period was HKD 265,000, down 89.8% from HKD 2,607,000 in 2020[3] - The loss before tax for the period was HKD 5,359,000, compared to a loss of HKD 4,287,000 in the previous year, representing a 25.0% increase in losses[3] - Total comprehensive loss for the period was HKD 4,147,000, slightly improved from HKD 4,284,000 in the same period last year[3] - The basic and diluted loss per share for the period was HKD 0.31, unchanged from the previous year[3] - The company reported a foreign exchange gain of HKD 1,199,000 for the period, compared to a gain of HKD 30,000 in the previous year[3] - Revenue from security and property management services was HKD 14,150,000, down from HKD 18,079,000 in 2020, indicating a decrease of 22%[8] - Revenue from asset management and consulting services increased to HKD 704,000 from HKD 395,000, reflecting an increase of 78%[8] - The company reported a loss before tax of HKD 5,081,000 for the three months ended June 30, 2021, compared to a loss of HKD 3,832,000 in the same period of 2020[15] - Basic and diluted loss per share for the period was HKD 0.00305, compared to HKD 0.00307 in the previous year[15] Expenses and Costs - Administrative expenses decreased to HKD 4,978,000 from HKD 6,407,000, a reduction of 22.2%[3] - Financial costs increased to HKD 742,000 from HKD 618,000, an increase of 20.1%[3] - Interest income from bank deposits decreased to HKD 3,000 from HKD 9,000, a decline of 67%[10] - Total financial expenses increased to HKD 742,000 from HKD 618,000, representing a rise of 20%[10] - The gross profit decreased from approximately HKD 2,607,000 to approximately HKD 265,000, a reduction of about 89.8% due to rising security costs and the adverse impact of the pandemic[28] - Administrative expenses decreased from approximately HKD 6,407,000 to approximately HKD 4,978,000, a reduction of about 22.3%, attributed to more effective cost control in asset management[29] - Financial expenses increased from approximately HKD 618,000 to approximately HKD 742,000, an increase of about 20.1%, primarily due to higher borrowing interest expenses[30] Shareholder Information - As of June 30, 2021, the company has a total of 922,325,231 shares held by Changcheng Huiri Holdings Limited, representing 55.50% of the issued shares[38] - The beneficial ownership of shares by major shareholders includes Guangzhou Nansha District Huiming Investment Business Co., Ltd., which also holds 922,325,231 shares, equating to 55.50%[38] - The company’s shares are controlled by a series of entities, with Nansha Huiming being wholly owned by Changcheng Huiri Holdings, which is ultimately controlled by Song Xiaoming[38] - The beneficial ownership structure indicates that Song Xiaoming has a direct control of approximately 68.90% and indirect control of about 22.00% through a wholly-owned company[35] - Other directors and key executives hold minor beneficial interests, with the highest being 12,671,279 shares, representing 0.76%[33] - The total number of shares held by the related entities indicates a concentrated ownership structure, which may impact governance and decision-making[38] - The ownership data reflects a stable control by major shareholders, which may influence strategic directions and market expansions[38] Corporate Governance - The company has complied with the corporate governance code, except for the separation of roles between the chairman and the CEO, which has not been appointed since the resignation of the previous CEO[47] - The company failed to comply with GEM Listing Rules regarding the minimum number of independent non-executive directors, which should be three, following the termination of Ms. Guan's directorship[53] - The board has made changes to the audit committee and remuneration committee compositions following the termination of Ms. Guan's directorship[53] - The company is in the process of ensuring compliance with the GEM Listing Rules regarding the composition of its committees[53] Strategic Developments - The company continues to focus on providing security services and business consulting, with no new products or technologies reported in this quarter[5] - The company established Shandong Guanhui Jiyie Commercial Management Co., Ltd. to expand its security and property management services in mainland China[19] - The company aims to enhance its reputation and service offerings in the security sector, leveraging its ISO 9001:2008 certification and operational experience[19] - The company's asset management services have entered a rapid development phase, with assets under management focusing on controlling mergers and long-term investments in leading companies in niche sectors[21] - The asset management team is committed to exploring business and investment opportunities, aiming for high-quality development in the next one to two years[21] - The company plans to continue expanding its security and property management services in mainland China, focusing on schools, industrial parks, and government departments[22] - The company believes in the strong potential of the mainland asset management industry, which will bring new development opportunities[23] Stock Options and Shares - The company’s stock options plan has been referenced, indicating potential future dilution of shares[33] - As of June 30, 2021, a total of 138,218,179 stock options were outstanding, with no options granted, exercised, cancelled, or expired during the three months[41] - All granted stock options have no vesting period or conditions attached[41] - The company adjusted the number and exercise price of unexercised share options due to the share consolidation on August 2, 2021[56] Events and Compliance - The company has not disclosed any significant events that occurred after June 30, 2021, up to the report date[57] - The company did not purchase, sell, or redeem any of its listed securities during the three months ended June 30, 2021[43] - The company has adopted written guidelines regarding securities transactions by directors, confirming compliance with the trading standards[45] - There were no interests held by directors or controlling shareholders in any competing businesses during the three months ended June 30, 2021[50] - The audit committee reviewed the financial reporting process and internal control procedures for the three months ended June 30, 2021[48] - There were no significant acquisitions or disposals of subsidiaries or associates during the three months ended June 30, 2021[51] - The company completed a share consolidation, merging every five existing shares into one new consolidated share, effective from August 2, 2021[56] - A subscription agreement was established for the issuance of 249,090,909 new consolidated shares at a subscription price of HKD 0.275 per share, approved by shareholders on July 29, 2021[56] - The new shares from the subscription were completed on August 5, 2021[56] - The company appointed Mr. Song as the new authorized representative effective from July 12, 2021[53]
新都酒店(08315) - 2022 Q1 - 季度财报