Financial Performance - Total revenue for the three months ended March 31, 2021, decreased by approximately 33.1% to about HKD 17.8 million compared to HKD 26.6 million in the same period of 2020[9]. - The number of projects decreased by approximately 46.2%, from 26 projects in 2020 to 14 projects in 2021[5]. - The average revenue per project increased by 24.5%, from approximately HKD 1.02 million in 2020 to approximately HKD 1.27 million in 2021[7]. - Gross profit for the three months ended March 31, 2021, was approximately HKD 3.4 million, a decrease of about 21.5% from HKD 4.3 million in 2020[12]. - The gross profit margin increased from approximately 16.0% in 2020 to approximately 18.8% in 2021[12]. - Adjusted EBITDA for the three months ended March 31, 2021, was approximately -HKD 4.4 million, compared to -HKD 1.8 million in the same period of 2020[12]. - The loss attributable to owners of the company for the three months ended March 31, 2021, was approximately HKD 5.9 million, compared to a loss of approximately HKD 3.9 million in 2020[12]. - The operating loss for the three months ended March 31, 2021, was HKD 4,868 thousand, compared to an operating loss of HKD 3,370 thousand for the same period in 2020[20]. - The net loss for the period was HKD 6,257 thousand, compared to a net loss of HKD 4,601 thousand for the same period in 2020[20]. - The company reported a net loss attributable to shareholders of HKD 5,937,000 for the three months ended March 31, 2021, compared to a net loss of HKD 3,856,000 for the same period in 2020, representing an increase in loss of approximately 53.8%[35]. - The basic loss per share for the three months ended March 31, 2021, was HKD 0.67, compared to HKD 0.65 for the same period in 2020, indicating a slight increase in loss per share[35]. Operating Expenses and Liabilities - Operating expenses for the three months ended March 31, 2021, increased to approximately HKD 8.7 million from HKD 7.1 million in 2020[12]. - Total liabilities as of March 31, 2021, were approximately HKD 117.6 million, an increase from HKD 111.6 million as of December 31, 2020[13]. - The debt-to-capital ratio was approximately 75.6% as of March 31, 2021, up from 75.0% as of December 31, 2020, primarily due to an increase in the book value of promissory notes[15]. Cash and Current Ratio - As of March 31, 2021, the group's cash and cash equivalents amounted to approximately HKD 17.6 million, down from HKD 24.6 million as of December 31, 2020[13]. - The current ratio as of March 31, 2021, was approximately 1.2, compared to 1.3 as of December 31, 2020[13]. Project and Service Revenue - The company experienced a significant decrease in the number of office projects, which fell by 59.1% from 22 in 2020 to 9 in 2021[5]. - The group’s main service revenue from design and renovation for the three months ended March 31, 2021, was HKD 17,780 thousand, down from HKD 26,632 thousand for the same period in 2020[29]. Share Options and Major Shareholders - The company has a share option scheme in place, which was approved on June 15, 2016, and aims to attract and retain talented personnel, with a term of 10 years[38]. - As of March 31, 2021, the company had a total of 8,000,000 shares available for issuance under the share option scheme, representing approximately 0.9% of the total issued shares[41]. - The company granted a total of 48,000,000 share options on October 9, 2020, with an exercise price of HKD 0.043 per share, while the closing price on the grant date was HKD 0.042[39]. - The company’s major shareholders include Climb Up Limited, which holds 115,000,000 shares, representing 12.94% of the issued voting shares[48]. Tax and Dividends - The company’s tax expense is calculated at a rate of 16.5% for Hong Kong profits tax, consistent with the previous year[32]. - The company did not declare any interim dividend for the three months ended March 31, 2021, consistent with the previous year[17]. Corporate Governance and Compliance - The company has adopted a code of conduct regarding securities trading by directors, which is not less stringent than the GEM Listing Rules[54]. - The audit committee has reviewed the unaudited financial information and the first-quarter report for the three months ended March 31, 2021[57]. - There were no arrangements made by the company or any related entities that would allow directors to benefit from acquiring shares or bonds of the company[42]. - The company and its subsidiaries did not enter into any arrangements that would allow directors or their associates to acquire securities of the company or its affiliates during the three months ended March 31, 2021[51]. - The board confirmed that there were no business activities directly or indirectly competing with the group during the three months ended March 31, 2021, except for the independent operation of ACE Architectural and Interior Design Limited[52]. - The company did not report any diluted loss per share for the three months ended March 31, 2021, due to the anti-dilutive effect of share options[36]. - As of March 31, 2021, the company did not receive any notifications regarding interests or short positions in its shares that require disclosure under the Securities and Futures Ordinance[49].
利骏集团香港(08360) - 2021 Q1 - 季度财报