Financial Performance - The group's revenue for the three months ended March 31, 2020, was HKD 29,563,000, a decrease of 27% compared to HKD 40,393,000 for the same period in 2019[6] - Gross profit for the same period was HKD 5,125,000, down 51% from HKD 10,423,000 year-on-year[6] - The operating loss for the quarter was HKD 670,000, compared to an operating profit of HKD 3,276,000 in the previous year[6] - Net profit for the period was HKD 249,000, a significant decline from HKD 3,437,000 in the prior year[6] - The company reported a foreign exchange loss of HKD 8,627,000, compared to a gain of HKD 4,726,000 in the same quarter of 2019[6] - Earnings per share for the quarter were HKD 0.04, down from HKD 0.53 in the previous year[6] - Total revenue decreased from HKD 40.4 million in Q1 2019 to HKD 29.6 million in Q1 2020, a decline of 26.8%[38] - The company reported a profit attributable to owners of HKD 249,000 in Q1 2020, down from HKD 3.437 million in Q1 2019[25] - Basic earnings per share decreased from HKD 0.53 in Q1 2019 to HKD 0.04 in Q1 2020[31] - Total profit attributable to owners was HKD 0.2 million, a significant decline from HKD 3.4 million in the same period last year[45] Revenue Breakdown - Revenue from battery packs and energy storage systems was HKD 6,906,000, a decrease of 55% from HKD 15,245,000 year-on-year[13] - Revenue from the production and sale of lithium battery products increased to HKD 7,212,000, up 37% from HKD 5,253,000 in the previous year[13] - Revenue from automotive glass repair and replacement services was HKD 10,463,000, down 9% from HKD 11,510,000 in the prior year[13] - Revenue from battery pack and energy storage systems dropped by 54.7%, from HKD 15.2 million to HKD 6.9 million[38] - Revenue from lithium battery products and automotive glass repair and replacement services increased by 37.3%, from HKD 5.3 million to HKD 7.2 million[38] Expenses and Costs - Revenue cost from battery pack and energy storage systems was HKD 4.9 million, down 54.2% from HKD 10.8 million in the same period last year[40] - Lithium battery product revenue cost increased to HKD 7.6 million from HKD 4.4 million year-on-year, resulting in a gross loss of HKD 0.4 million compared to a gross profit of HKD 0.9 million last year[40] - Automotive glass repair and replacement business revenue cost was HKD 8.3 million, slightly down from HKD 8.7 million year-on-year, with gross profit decreasing by 22.5% to HKD 2.2 million[41] - Administrative expenses decreased to HKD 5.4 million from HKD 5.8 million, primarily due to reduced costs from temporary shutdowns[44] - Government grants received amounted to HKD 464,000 in Q1 2020, down from HKD 804,000 in Q1 2019[15] Corporate Governance - The company did not recommend any dividend for the three months ended March 31, 2020, consistent with the previous year[23] - The company has maintained compliance with the corporate governance code as per GEM listing rules during the three months ending March 31, 2020[65] - The company is committed to high standards of corporate governance and transparency, which are crucial for its success and shareholder protection[65] - The company has established an audit committee in compliance with GEM listing rules, consisting of three independent non-executive directors[69] - The audit committee's main responsibilities include reviewing and supervising the group's financial reporting procedures and risk management systems[69] - The unaudited condensed consolidated financial information for the three months ended March 31, 2020, has been reviewed by the audit committee[70] Shareholder Information - As of March 31, 2020, Dr. Li Hsien-Yi holds 108,781,432 shares, representing 16.78% of the company's issued share capital[57] - The total number of unexercised share options under the stock option plan as of March 31, 2020, is 1,147,491[62] - The company did not recommend any dividend distribution for the three months ending March 31, 2020[66] - No shares were purchased, sold, or redeemed by the company or its subsidiaries during the three months ending March 31, 2020[63] - The major shareholders include Dr. Li Hsien-Yi with a personal interest of 34,141,500 shares (5.27%) and Mr. Dong Qingbo with 40,014,968 shares (6.17%)[57] - The total interest of the controlling shareholders in the company is significant, with Mr. Dong Qingbo and Dr. Li Hsien-Yi collectively holding a substantial portion[58] - The company has no knowledge of any director or controlling shareholder holding interests in competing businesses as of March 31, 2020[64] Future Developments - The company is currently evaluating the impact of new accounting standards but has not yet determined if they will have a significant effect on its performance and financial position[12] - The company is establishing a lithium battery and energy storage product manufacturing facility in Jiangsu Province, expected to commence commercial production in Q4 2020[33] - The company experienced a 50.2% revenue decline in the battery pack and energy storage systems segment due to production delays caused by the COVID-19 pandemic[38] - The company has four service centers and a fleet service team to provide automotive glass repair and replacement services[35]
信义储电(08328) - 2020 Q1 - 季度财报