Financial Performance - For the nine months ended December 31, 2020, the group recorded revenue of approximately HKD 15,401,000, a decrease of about 24.7% compared to HKD 20,465,000 for the same period in 2019[5] - The group reported an unaudited consolidated loss attributable to owners of the company of approximately HKD 4,352,000 for the nine months ended December 31, 2020, compared to a loss of HKD 11,702,000 for the same period in 2019[5] - For the three months ended December 31, 2020, the group achieved revenue of HKD 5,582,000, compared to HKD 5,195,000 for the same period in 2019[7] - The gross profit for the nine months ended December 31, 2020, was HKD 14,508,000, down from HKD 18,992,000 in the same period of 2019[7] - The group incurred total comprehensive expenses of HKD 8,248,000 for the nine months ended December 31, 2020, compared to HKD 11,935,000 for the same period in 2019[9] - The basic and diluted loss per share attributable to owners of the company for the nine months ended December 31, 2020, was HKD 0.65, compared to HKD 1.76 for the same period in 2019[7] - The group reported a loss before tax of HKD 4,174,000 for the nine months ended December 31, 2020, compared to a loss of HKD 11,733,000 for the same period in 2019[7] - Total revenue for the nine months ended December 31, 2020, was HKD 21,990,000, a decrease of 3.9% compared to HKD 22,882,000 for the same period in 2019[17] - The company reported a basic loss per share of approximately HKD 4,352,000 for the nine months ended December 31, 2020, compared to HKD 11,702,000 for the same period in 2019[23] Dividends and Shareholder Returns - The board of directors does not recommend the payment of a dividend for the nine months ended December 31, 2020[5] - The company did not recommend any dividend for the nine months ended December 31, 2020, consistent with the previous year[23] Income and Expenses - The group’s other income and losses for the nine months ended December 31, 2020, amounted to HKD 6,589,000, compared to HKD 2,417,000 in the same period of 2019[7] - The group’s financing costs for the nine months ended December 31, 2020, were HKD 307,000, compared to HKD 352,000 for the same period in 2019[7] - Rental income for the nine months ended December 31, 2020, was HKD 1,076,000, down 30.9% from HKD 1,560,000 for the same period in 2019[17] - Interest expenses for bank loans for the nine months ended December 31, 2020, were HKD 275,000, a decrease from HKD 324,000 in the same period of 2019[21] - Other income and losses amounted to approximately HKD 6,589,000 for the nine months ended December 31, 2020, compared to HKD 2,417,000 for the same period in 2019, primarily due to an increase in fair value gains and government subsidies[35] - General and administrative expenses were approximately HKD 24,812,000 for the nine months ended December 31, 2020, a decrease of about 23.0% from HKD 32,232,000 in the same period of 2019[35] Government Support - Government subsidies received amounted to HKD 2,208,000 for the nine months ended December 31, 2020, with no subsidies reported in the same period of 2019[17] Equity and Shares - The total equity as of December 31, 2020, was HKD 47,593,000, a decrease from HKD 68,342,000 as of April 1, 2019[19] - The company had 666,538,774 issued ordinary shares with a par value of HKD 0.01 as of December 31, 2020[52] - Major shareholder Pablos International Limited held 343,997,678 shares, representing 51.61% of the total issued shares[55] - The company’s executive director, Ms. Lau, owned 43,458,058 shares, which accounted for 65.27% of her controlled corporation's shares[48] - The total number of stock options granted as of December 31, 2020, was 21,000,000, with a remaining balance after cancellations of 21,000,000[59] Corporate Governance - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the nine months ending December 31, 2020[64] - There were no competitive businesses or conflicts of interest reported among directors or major shareholders during the nine months ending December 31, 2020[62] - The company has adopted a code of conduct for directors' securities trading, compliant with GEM Listing Rules, with all directors adhering to the trading standards during the nine-month period ending December 31, 2020[66] - The company has complied with the corporate governance code as per GEM Listing Rules Appendix 15, with the exception of the separation of roles between the Chairman and CEO, which is currently held by the same individual[69] Employee Information - As of December 31, 2020, the total employee expenses for the nine months amounted to approximately HKD 15,746,000, a decrease of 17.5% compared to HKD 18,967,000 in 2019[44] - The company maintained a consistent workforce of 84 full-time employees in Hong Kong and China as of December 31, 2020[44] - The company provided additional employee benefits including mandatory provident fund contributions and medical insurance[44] Future Outlook - The company plans to continue allocating resources to strengthen its position in providing financial news services and enhance its digital marketing business development[38] - The investor relations business is expected to become a profitable segment for the company in the coming years, covering services related to listed companies and IPO tasks[38] - The company continues to expand its securities business, which includes portfolio management and private fund investment consulting, anticipating significant management and performance fee income in the near future[39] Impact of COVID-19 - The company has granted several months of rent reductions to tenants during the COVID-19 pandemic, resulting in decreased revenue from property investments[31] Accounting Standards - The company expects that the adoption of new accounting standards will not have a significant impact on its performance and financial position[16] Share Transactions - No shares of the company were purchased, sold, or redeemed by the company or its subsidiaries during the nine-month period ending December 31, 2020[67]
财华社集团(08317) - 2021 Q3 - 季度财报