Financial Performance - The group's revenue for the three months ended March 31, 2021, was approximately HKD 1.15 million, a decrease from HKD 4.53 million in the same period of 2020[5]. - The loss attributable to the owners of the company for the three months ended March 31, 2021, was approximately HKD 1.77 million, compared to a profit of HKD 1.49 million in the same period of 2020[5]. - The basic loss per share for the three months ended March 31, 2021, was HKD 0.28, compared to earnings per share of HKD 0.23 in the same period of 2020[8]. - The group's performance was negatively impacted by the COVID-19 pandemic and uncertainty regarding the Hong Kong Stock Exchange's proposed increase in profit requirements for main board listings[21]. - The group anticipates that the pandemic will continue to affect financial performance temporarily until signs of recovery are observed in domestic and international markets[23]. Cash Flow and Taxation - The group maintained a healthy and stable cash flow position as of March 31, 2021[20]. - There were no income tax liabilities for the group under the laws of the Cayman Islands[16]. - As of March 31, 2021, the group had no significant contingent liabilities[24]. Corporate Governance - The company has complied with the corporate governance code and report, with some deviations due to its relatively small scale[32]. - The company has adopted a code of conduct for securities trading by directors, which is less stringent than the GEM listing rules[35]. - A remuneration committee has been established to review and recommend the remuneration policies for directors and senior management[36]. - A nomination committee has been formed to develop nomination policies and make recommendations regarding the appointment of directors[37]. - An audit committee has been set up to review and monitor the financial reporting procedures and internal control systems of the group[38]. - The audit committee has reviewed the financial statements for the three months ended March 31, 2021, and confirmed compliance with applicable accounting standards[38]. - The board of directors consists of two executive directors and three independent non-executive directors[39]. Business Operations - The group primarily provides financial services in Hong Kong, with revenue derived from corporate finance advisory services[14]. - The group has no business or geographical segment analysis due to its focus on financial services in Hong Kong[15]. - During the reporting period, the group completed five corporate finance advisory projects in the first quarter despite facing intense competition[21]. - The business environment remains challenging in 2021 due to ongoing tensions between the US and China, as well as uncertainties related to the COVID-19 pandemic[23]. - The management will continue to focus on general corporate finance advisory services and related projects for listings in Hong Kong to maintain competitiveness[23]. Shareholder Information - The beneficial owner of Vinco Asia Limited, Mr. Zhong Haoren, holds 138,790,000 shares, representing 21.69% of the company's equity[26]. - The company did not grant or formally adopt any stock options during the reporting period[30]. - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the three months ending March 31, 2021[31]. Dividends - The board of directors did not recommend the payment of any dividends for the three months ended March 31, 2021[19].
紫荆国际金融(08340) - 2021 Q1 - 季度财报