Revenue Performance - Revenue for the three months ended December 31, 2018, was HKD 37,352,000, representing an increase of 5.1% compared to HKD 34,478,000 for the same period in 2017[11]. - Revenue for the nine months ended December 31, 2018, was HKD 110,515,000, up 4.0% from HKD 106,173,000 in the same period of 2017[11]. - The group reported a total revenue of HKD 37,352 thousand for the three months ended December 31, 2018, compared to HKD 34,478 thousand for the same period in 2017, representing an increase of approximately 5.1%[31]. - For the nine months ended December 31, 2018, total revenue reached HKD 110,515 thousand, up from HKD 106,173 thousand in 2017, indicating a growth of about 4.0%[31]. - For the nine months ended December 31, 2018, the revenue from "麻酸樂╱嫲孫樂" was approximately HKD 33.9 million, accounting for 30.7% of total revenue, representing a decrease of 22.2% compared to the same period last year[58]. - "泰巷" recorded revenue of approximately HKD 47.9 million for the nine months ended December 31, 2018, accounting for 43.3% of total revenue, an increase of 27.8% year-on-year[58]. - "娜多歐陸" generated revenue of approximately HKD 15.1 million for the nine months ended December 31, 2018, which is 13.6% of total revenue, reflecting a decrease of 40.0% compared to the previous year[58]. - "牛布拉" and "緣蝦壹麵" both opened in May 2018, generating revenues of approximately HKD 5.9 million (5.3% of total revenue) and HKD 5.5 million (4.9% of total revenue) respectively, with no prior year comparison available[60]. - "峇峇娘惹" opened in August 2018, recording revenue of approximately HKD 2.3 million, accounting for 2.1% of total revenue, with no prior year comparison available[60]. Loss and Financial Performance - The company reported a loss before tax of HKD 4,060,000 for the three months ended December 31, 2018, compared to a loss of HKD 23,000 in the same period of 2017[11]. - The loss attributable to owners of the company for the three months ended December 31, 2018, was HKD 4,147,000, compared to a profit of HKD 515,000 in the same period of 2017[11]. - Basic loss per share for the three months ended December 31, 2018, was HKD 0.52, compared to HKD 0.09 for the same period in 2017[11]. - Total comprehensive loss for the nine months ended December 31, 2018, was HKD 8,388,000, compared to HKD 2,712,000 for the same period in 2017[11]. - The company reported a loss attributable to owners of the company of HKD 8.5 million for the nine months ended December 31, 2018, compared to a loss of HKD 3.6 million in the same period of 2017[54]. - The basic loss per share for the nine months ended December 31, 2018, was HKD (10.61), based on a weighted average of 800,000,000 shares[54]. Costs and Expenses - The company incurred employee costs of HKD 15,884,000 for the three months ended December 31, 2018, an increase from HKD 12,769,000 in the same period of 2017[11]. - The cost of materials and consumables increased from approximately HKD 28.7 million to HKD 31.5 million, accounting for about 27.0% and 28.5% of total revenue for the respective periods[70]. - Employee costs rose by approximately 20.3% to HKD 44.3 million due to the hiring of additional staff for new restaurant openings[71]. - Other expenses increased by approximately 59.0% to HKD 8.7 million, mainly due to legal and professional fees incurred post-IPO and costs associated with expanding central kitchen storage capacity[73]. Business Operations and Strategy - The company plans to expand its existing brand network and is evaluating rental proposals for potential new locations to enhance profitability[62]. - The management acknowledges that the success of the business is highly dependent on food quality, restaurant operating costs, and the economic conditions in Hong Kong[61]. - The increase in revenue was primarily driven by the opening of six new restaurants, including two in Ma On Shan and three in Mong Kok[69]. - The company plans to close unprofitable restaurants in Sha Tin and Tsuen Wan upon lease expiration in early 2019 due to poor financial performance[65]. - The company is expanding its central kitchen to increase storage facilities and accommodate new food processing equipment to support new restaurant openings[67]. - The company has introduced a new HR mobility application to streamline leave requests and has engaged a developer to upgrade its ERP system for better operational efficiency[67]. Compliance and Governance - The company has changed its compliance advisor from Yu Gao Financing Limited to De Jian Financing Limited effective January 15, 2019, for cost considerations[98]. - The company has adopted GEM Listing Rules 5.48 to 5.67 as the code of conduct for directors' securities transactions, confirming compliance for the nine months ending December 31, 2018[100]. - The company has established an audit committee on January 29, 2018, with responsibilities including reviewing the adequacy of risk management and internal control policies[104]. - The audit committee has reviewed the unaudited condensed consolidated financial statements for the nine months ending December 31, 2018, confirming compliance with applicable accounting standards and GEM Listing Rules[105]. Shareholder Information - Major shareholders include MJL, holding 540 million shares, representing 67.5% of the issued share capital[92]. - Huang Xueqing, Wang Xiuting, Huang Mufei, and Ma Ruikang each hold controlled corporation interests in MJL, collectively owning 540 million shares[86]. - MJL is beneficially owned by Huang Xueqing (31.0%), Zhou Lifeng (31.0%), Wang Xiuting (18.7%), Huang Xueqin (15.0%), and Ma Ruikang (4.3%)[92]. Financial Position and Commitments - As of December 31, 2018, approximately HKD 17.2 million of the net proceeds from the listing has been utilized[79]. - The company had planned to utilize approximately HKD 4.4 million of the net proceeds to open a new Thai restaurant by September 30, 2018, but suitable locations were not found[81]. - As of December 31, 2018, the company's unspent capital commitments amounted to approximately HKD 0.06 million, primarily related to fixed asset acquisitions for new restaurants[83]. - There were no significant contingent liabilities as of December 31, 2018[84]. - The company has no major foreign exchange risk as significant transactions are denominated in HKD[82].
倩碧控股(08367) - 2019 Q3 - 季度财报