Financial Performance - Total revenue for the three months ended March 31, 2019, increased by approximately 4.5% to about HKD 34.5 million compared to HKD 33.0 million in the same period of 2018[10] - Revenue for the three months ended March 31, 2019, was HKD 34.671 million, an increase from HKD 33.579 million for the same period in 2018[22] - The average revenue per project decreased from approximately HKD 1.27 million in 2018 to about HKD 1.15 million in 2019[8] - Gross profit for the three months ended March 31, 2019, was approximately HKD 5.3 million, a decline of about 36.9% from HKD 8.4 million in 2018[13] - The gross profit margin dropped from approximately 25.2% in 2018 to about 15.3% in 2019 due to increased subcontracting costs from larger commercial projects[13] - Adjusted EBITDA for the three months ended March 31, 2019, was approximately -HKD 1.7 million, compared to HKD 1.1 million in the same period of 2018[14] - The company recorded a loss attributable to owners of approximately HKD 2.9 million for the three months ended March 31, 2019, compared to a profit of about HKD 4.3 million in 2018[14] - The group reported a loss of HKD 2.898 million for the three months ended March 31, 2019, compared to a profit of HKD 4.345 million for the same period in 2018[22] - Basic loss per share for the period was HKD (0.49), compared to earnings of HKD 0.89 for the same period in 2018[22] - For the three months ended March 31, 2019, the company reported a loss attributable to shareholders of HKD (2,905,000), compared to a profit of HKD 4,254,000 for the same period in 2018, representing a year-over-year decline of 168.3%[34] - Basic loss per share for the first quarter of 2019 was HKD (0.49), down from HKD 0.89 in the same quarter of 2018, indicating a decrease of 154.9%[34] Project and Client Activity - The number of projects increased by approximately 15.4% from 26 to 30 projects year-over-year[6] - The company has secured multiple projects totaling approximately HKD 85.9 million, which are expected to contribute to total revenue later in 2019[8] - The company continues to gain projects from existing and new clients, enhancing its reputation and competitive advantage in the market[13] - The group’s primary service revenue included design and renovation services totaling HKD 34.304 million for the three months ended March 31, 2019, compared to HKD 32.992 million in 2018[28] Operating Expenses and Financial Position - Operating expenses for the three months ended March 31, 2019, were approximately HKD 7.5 million, a decrease from HKD 7.8 million in the same period of 2018[13] - As of March 31, 2019, the group had cash and cash equivalents of approximately HKD 15.0 million, down from HKD 20.7 million as of December 31, 2018[16] - The current ratio as of March 31, 2019, was approximately 1.8 times, unchanged from December 31, 2018[16] - Total liabilities as of March 31, 2019, were approximately HKD 104.6 million, a slight decrease from HKD 105.3 million as of December 31, 2018[16] - The capital-to-debt ratio was approximately 70.8% as of March 31, 2019, compared to 66.9% as of December 31, 2018[16] Shareholder Information - Major shareholder Legend Investments International Limited holds 144,004,000 shares, representing 24.2% of the issued voting shares[59] - Climb Up Limited, another major shareholder, holds 115,000,000 shares, also representing 19.3% of the issued voting shares[59] - The weighted average number of ordinary shares increased from 480,000,000 in 2018 to 595,000,000 in 2019, reflecting a growth of 24%[34] Corporate Governance - The company has confirmed compliance with all corporate governance codes as per GEM Listing Rules Appendix 15 during the reporting period[63] - There were no arrangements made that would allow directors or major shareholders to acquire any securities of the company or its affiliates during the reporting period[60] - The company’s operations remain independent from Ace Architectural and Interior Design Limited, a non-wholly owned subsidiary, ensuring no direct competition[62] - The audit committee was established on June 15, 2016, and consists of three independent non-executive directors[67] - The audit committee reviewed the unaudited financial information and the first quarter report for the period ended March 31, 2019[67] Dividends and Acquisitions - The group did not declare any interim dividends for the three months ended March 31, 2019, consistent with the previous year[19] - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the three months ended March 31, 2019[20] - No purchases, sales, or redemptions of the company's listed securities occurred during the three months ended March 31, 2019[65] Stock Options - The company has a stock option plan effective from July 12, 2016, for a duration of 10 years, aimed at attracting and retaining competent personnel[36] - As of March 31, 2019, there were no unexercised, granted, cancelled, exercised, or lapsed stock options[36]
简朴新生活(08360) - 2019 Q1 - 季度财报