Financial Performance - Total revenue for the nine months ended September 30, 2020, was approximately HKD 44.8 million, a decrease of about 50.5% compared to HKD 90.4 million in the same period of 2019[12]. - Average revenue per project fell by 43.8% to approximately HKD 0.9 million from HKD 1.6 million in 2019[8]. - Gross profit for the nine months was approximately HKD 8.8 million, down about 42.0% from HKD 15.2 million in 2019, while the gross profit margin increased from 16.8% to 19.7%[14]. - The company reported an adjusted EBITDA of (HKD 7.2 million) for the nine months, compared to (HKD 4.0 million) in the previous year[12]. - Revenue for the three months ended September 30, 2020, was HKD 2,855,000, a decrease of 92.8% compared to HKD 39,885,000 for the same period in 2019[27]. - Revenue for the nine months ended September 30, 2020, was HKD 44,780,000, down 50.5% from HKD 90,449,000 in the same period of 2019[27]. - The operating loss for the three months ended September 30, 2020, was HKD 6,227,000, compared to an operating profit of HKD 531,000 in the same period of 2019[27]. - The net loss for the nine months ended September 30, 2020, was HKD 33,753,000, significantly higher than the loss of HKD 9,922,000 for the same period in 2019[27]. - Total comprehensive expenses for the nine months ended September 30, 2020, amounted to HKD 34,572,000, compared to HKD 10,033,000 in the same period of 2019[29]. - Basic loss per share for the nine months ended September 30, 2020, was HKD (4.74), compared to HKD (1.34) for the same period in 2019[29]. Project and Market Activity - The number of projects completed and in progress decreased by 15.8% from 57 to 48 projects year-over-year[5]. - The number of office projects increased by 9.1% from 33 to 36, while commercial projects saw a significant decline of 73.7% from 19 to 5[5]. - The company experienced a significant decline in commercial project revenue, which dropped by 95.7% from HKD 44.2 million to HKD 1.9 million[7]. - The company continues to receive projects from both existing and new clients, leveraging its strong reputation and industry experience[8]. - The company has secured contracts totaling over HKD 105.8 million, with some projects expected to commence in Q4 2020 and 2021[8]. Expenses and Losses - Total operating expenses for the nine months ended September 30, 2020, were approximately HKD 19.4 million, down from HKD 22.1 million in the same period of 2019[16]. - Adjusted EBITDA for the nine months ended September 30, 2020, was approximately HKD -7.2 million, compared to HKD -4.0 million in the same period of 2019, primarily due to a decrease in overall gross profit[16]. - The loss attributable to owners of the company for the nine months ended September 30, 2020, was approximately HKD 31.7 million, compared to HKD 8.0 million in the same period of 2019[16]. - The company reported a significant increase in other expenses, totaling HKD 7,228,000 for the nine months ended September 30, 2020, compared to HKD 6,825,000 in 2019[27]. - Financial costs for the nine months ended September 30, 2020, were HKD 3,756,000, slightly up from HKD 3,578,000 in the same period of 2019[27]. - The company recognized a loss from other (loss)/income of HKD (19,961,000) for the nine months ended September 30, 2020, compared to HKD 388,000 in 2019[27]. Assets and Liabilities - As of September 30, 2020, the group had cash and cash equivalents of approximately HKD 27.7 million, an increase from HKD 22.1 million as of December 31, 2019[17]. - The current ratio as of September 30, 2020, was approximately 1.3, down from 1.4 as of December 31, 2019[17]. - Total liabilities as of September 30, 2020, were approximately HKD 117.3 million, compared to HKD 116.5 million as of December 31, 2019[17]. - The debt-to-asset ratio as of September 30, 2020, was 67.5%, up from 51.2% as of December 31, 2019[17]. Shareholder and Corporate Governance - The company completed a placement of 141,400,000 shares at a price of HKD 0.037 per share, raising approximately HKD 5.2 million net of expenses[18][20]. - The total number of issued shares as of September 30, 2020, was 848,400,000, compared to 595,000,000 shares as of December 31, 2019[20]. - The company did not declare any interim dividend for the nine months ended September 30, 2020[22]. - Major shareholders include Baoting Management with 124,232,000 shares, representing 14.64% of total shares[58]. - Climb Up Limited holds 115,000,000 shares, accounting for 13.55% of total shares, with ownership split equally between Mr. Huang and Mr. Lin[59]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited financial information for the nine months ending September 30, 2020[67]. - The company confirmed compliance with all corporate governance codes as per GEM listing rules during the nine months ending September 30, 2020[63]. - The company has adopted a code of conduct for directors' securities trading, confirming compliance during the nine months ending September 30, 2020[64]. Future Outlook - The company aims to strengthen its market position and enhance productivity and efficiency amid ongoing economic uncertainty[9]. - The company has not provided specific guidance for future performance or new product developments in the current report[27].
简朴新生活(08360) - 2020 Q3 - 季度财报