Financial Performance - For the nine months ended September 30, 2021, total revenue increased by approximately 40.4% to HKD 63.1 million compared to HKD 44.8 million in the same period of 2020[10]. - The gross profit for the same period was approximately HKD 12.5 million, representing a 42.1% increase from HKD 8.8 million in 2020, with a gross margin of 19.9%[12]. - The company recorded a loss attributable to owners of approximately HKD 12.9 million, a significant improvement from a loss of HKD 31.7 million in the same period of 2020[14]. - The adjusted EBITDA for the nine months was approximately -HKD 7.9 million, compared to -HKD 7.2 million in 2020[14]. - The total operating expenses increased to approximately HKD 22.8 million from HKD 19.4 million in the previous year[14]. - The company reported a loss before tax of HKD 13.58 million for the nine months ended September 30, 2021, compared to a loss of HKD 33.75 million for the same period in 2020[24]. - The basic loss per share for the nine months ended September 30, 2021, was HKD (9.92), compared to HKD (45.28) for the same period in 2020, indicating an improvement in performance[34]. - The company reported a total comprehensive expense of HKD 13,495,000 for the nine months ended September 30, 2021, down from HKD 34,572,000 in the same period of 2020, a reduction of about 61%[34]. Revenue Sources - The revenue from commercial projects surged by 868.4% to HKD 18.4 million, while revenue from residential projects increased by 111.1% to HKD 5.7 million[6]. - The design and renovation segment generated revenue of HKD 22,676,000 for the three months ended September 30, 2021, compared to HKD 2,732,000 in the same period of 2020, marking an increase of about 730%[34]. - The company’s revenue from maintenance and after-sales services increased to HKD 590,000 for the nine months ended September 30, 2021, from HKD 294,000 in the same period of 2020, representing a growth of approximately 100%[34]. Project and Operational Changes - The number of projects decreased by 29.2% to 34 projects, while the average revenue per project increased by 100.0% to approximately HKD 1.8 million[4][7]. - The number of office projects decreased by 52.8% to 17, while the number of commercial projects increased to 10 from 5[4]. - The company continues to focus on large-scale projects, which have contributed to revenue growth and improved gross margins[12]. Share and Capital Management - The company completed a share consolidation, merging every ten existing shares into one, resulting in a total issued share capital of HKD 100 million, divided into 1 billion shares with a par value of HKD 0.10 each[15]. - The company raised approximately HKD 71.96 million through a rights issue, issuing 266,520,000 shares at a subscription price of HKD 0.27 per share[15]. - The weighted average number of ordinary shares increased from 69,937,000 in the nine months ended September 30, 2020, to 130,209,000 in the same period of 2021 due to a share consolidation[41]. Financial Position - As of September 30, 2021, the company had cash and cash equivalents of approximately HKD 29.8 million, up from HKD 24.6 million as of December 31, 2020[15]. - The total liabilities of the group were approximately HKD 99.7 million as of September 30, 2021, a decrease from HKD 111.6 million as of December 31, 2020[16]. - The debt-to-asset ratio was 12.5% as of September 30, 2021, significantly improved from 75.0% as of December 31, 2020[18]. Governance and Compliance - The company complied with all corporate governance codes as per GEM listing rules, except for one specific provision[56]. - The audit committee, established on June 15, 2016, consists of three independent non-executive directors and is responsible for reviewing financial statements and overseeing internal control procedures[61]. - The audit committee has reviewed the unaudited financial information and third-quarter report for the nine months ending September 30, 2021[61]. Tax and Other Income - The estimated tax expense for the nine months ended September 30, 2021, was HKD (72,000), compared to HKD 7,000 in the same period of 2020, indicating a tax reduction[39]. - The company has not incurred any tax liabilities in the Cayman Islands or British Virgin Islands, maintaining a favorable tax position[39]. - Other income for the nine months ended September 30, 2021, included dividend income of HKD 31,000, compared to HKD 900,000 in the same period of 2020, showing a decrease of approximately 96%[35].
利骏集团香港(08360) - 2021 Q3 - 季度财报