Financial Performance - For the three months ended September 30, 2021, the company reported revenue of HKD 137,231 thousand, a significant increase from HKD 72,349 thousand in the same period of 2020, representing an increase of 90%[4] - The gross profit for the nine months ended September 30, 2021, was HKD 59,437 thousand, compared to HKD 33,018 thousand for the same period in 2020, reflecting an increase of 80%[4] - The operating profit for the three months ended September 30, 2021, was HKD 14,130 thousand, up from HKD 7,589 thousand in the same period of 2020, marking an increase of 86%[4] - The net profit attributable to owners of the company for the nine months ended September 30, 2021, was HKD 14,025 thousand, compared to HKD 13,355 thousand in the same period of 2020, showing a growth of 5%[6] - The total comprehensive income for the three months ended September 30, 2021, was HKD 10,802 thousand, a decrease from HKD 21,699 thousand in the same period of 2020, indicating a decline of 50%[6] - The total revenue for the nine months ended September 30, 2021, was HKD 253,059 thousand, compared to HKD 153,258 thousand in the same period of 2020, representing an increase of 65%[4] - The group’s revenue for the nine months ended September 30, 2021, was HKD 253,059 thousand, an increase of 65.3% compared to HKD 153,258 thousand for the same period in 2020[14] - The energy storage business contributed HKD 72.6 million (28.7% of total revenue), while EPC services generated HKD 104.8 million (41.4% of total revenue), marking a 248.2% increase from HKD 30.1 million in 2020[37] - The gross profit margin improved from 21.5% for the nine months ended September 30, 2020, to 23.5% for the same period in 2021, primarily due to the higher margin from EPC services at 27.7%[41] - The company reported a profit attributable to owners of HKD 14.0 million for the nine months ended September 30, 2021, compared to HKD 13.4 million in 2020, indicating improved profitability[47] Expenses and Income - The company incurred selling and marketing expenses of HKD 4,257 thousand for the three months ended September 30, 2021, compared to HKD 1,715 thousand in the same period of 2020, an increase of 148%[4] - The administrative expenses for the nine months ended September 30, 2021, were HKD 37,773 thousand, up from HKD 22,765 thousand in the same period of 2020, reflecting an increase of 66%[4] - The company reported other income of HKD 2,451 thousand for the three months ended September 30, 2021, compared to HKD 1,946 thousand in the same period of 2020, indicating an increase of 26%[4] - The group recognized other income of HKD 13,921 thousand for the nine months ended September 30, 2021, compared to HKD 3,507 thousand for the same period in 2020, indicating a significant increase[15] - The group reported a total tax expense of HKD 6,683 thousand for the nine months ended September 30, 2021, compared to HKD 463 thousand for the same period in 2020, showing a substantial increase[17] Shareholder Information - As of September 30, 2021, the company had a total of 461,393,649 shares held by major shareholders, representing approximately 71.15% of the issued share capital[60] - The company reported that Dan Sri Dato' Dong Qing Shi holds 37,039,885 shares, accounting for 5.71% of the issued share capital[49] - The company’s major shareholder, Dr. Li Xian Yi, has a total of 108,781,432 shares, which is approximately 16.78% of the issued share capital[60] - The company has a significant concentration of ownership, with the top three shareholders holding a combined total of 461,393,649 shares, or 71.15% of the issued share capital[60] - The company has a total of 132,000 unexercised share options held by Li Bi Rong, representing approximately 0.02% of the issued share capital[54] - The company has a total of 1,044,000 unexercised share options held by Cha Xue Song, representing approximately 0.16% of the issued share capital[54] - The company has a total of 4,436,100 shares held by Dan Sri Dato' Dong Qing Shi in personal capacity, representing approximately 0.68% of the issued share capital[60] - The company’s major shareholders have agreed to grant each other preemptive rights in the event of a sale of shares allocated under the company’s distribution plan[52] - The company has not received any notifications of interests in shares from individuals other than directors or senior management as of September 30, 2021[67] Corporate Governance - The company has adhered to the corporate governance code as per GEM listing rules, ensuring high standards of governance and transparency[72] - The Audit Committee has been established in compliance with GEM listing rules, consisting of three independent non-executive directors[76] - The unaudited consolidated financial information for the nine months ending September 30, 2021, has been reviewed by the Audit Committee[76] - The report is dated November 8, 2021, indicating the company's ongoing commitment to corporate governance and financial oversight[76] Operational Developments - The company relocated its production facility from Wuhu, Anhui Province to Zhangjiagang, Jiangsu Province in the first half of 2021, which is expected to enhance operational efficiency[30] - The company established a subsidiary, Polaron Energy Corp., in Canada to provide EPC services, holding a 68% stake, which supports overseas market development[31] - The company maintains a non-competitive arrangement with Xinyi Solar Holdings Limited, ensuring no overlapping customers and geographic competition[71] Dividend Policy - The company did not recommend any dividend for the nine months ended September 30, 2021, consistent with the previous year[21] - The board of directors does not recommend the payment of dividends for the nine months ended September 30, 2021, consistent with the previous year[75]
信义储电(08328) - 2021 Q3 - 季度财报