Financial Performance - The Group reported revenue of HKD 30,439,000 for the three months ended December 31, 2019, compared to HKD 89,569,000 for the same period in 2018, representing a decrease of approximately 66%[6] - For the nine months ended December 31, 2019, the Group's revenue was HKD 89,569,000, down from HKD 110,515,000 in the previous year, indicating a decline of about 19%[6] - The total comprehensive loss for the nine months ended December 31, 2019, was HKD 29,587,000, compared to HKD 8,388,000 for the same period in 2018, marking an increase in losses of about 253%[6] - Basic loss per share for the three months ended December 31, 2019, was HKD 0.80, compared to HKD 0.52 for the same period in 2018, representing a deterioration of approximately 54%[6] - The Group's loss attributable to owners for the three months ended December 31, 2019, was HKD 6,395,000, compared to HKD 4,147,000 for the same period in 2018, representing an increase of approximately 54%[6] - For the nine months ended December 31, 2019, the company reported a revenue of approximately HKD 89.5 million, with a loss attributable to shareholders of HKD 29.47 million, resulting in a basic loss per share of HKD 3.68[35] - The company recorded a loss attributable to owners of approximately HKD 29.5 million for the nine months ended December 31, 2019, compared to a loss of HKD 8.5 million for the same period in 2018[55] Revenue Breakdown by Segment - The Chinese cuisine segment generated revenue of HKD 33.61 million for the nine months ended December 31, 2019, slightly down from HKD 33.89 million in the previous year[24] - The Thai cuisine segment reported a revenue of HKD 33.44 million for the nine months ended December 31, 2019, a significant decline from HKD 47.89 million in the same period of 2018, reflecting a decrease of approximately 30%[24] - The Malaysian cuisine segment achieved revenue of HKD 21.70 million for the nine months ended December 31, 2019, compared to HKD 7.78 million in the previous year, indicating a substantial increase of approximately 179%[24] - The revenue from the "麻酸樂╱嫲孫樂" brand was approximately HKD 33.6 million, accounting for 37.5% of total revenue, reflecting a decrease of 0.8% compared to the same period last year[38] - The "泰巷" brand generated approximately HKD 33.4 million in revenue, representing 37.3% of total revenue, with a significant decrease of 30.2% due to a reduction in the number of restaurants[38] - The "峇峇娘惹" brand saw a revenue increase of 785.8% to approximately HKD 20.7 million, as the number of restaurants expanded from one to four[39] - The "牛布拉" brand reported a revenue of approximately HKD 0.8 million, a decrease of 86.2% due to the closure of all its restaurants[39] - The "緣蝦壹麵" brand recorded revenue of approximately HKD 1.0 million, down 80.8% as a result of the closure of all its restaurants[41] Operational Challenges - The group has ceased operations for the Western and Japanese cuisine segments as of March 18, 2019, and June 30, 2019, respectively, impacting overall revenue generation[23] - The company faced challenges due to the closure of four restaurants and the impact of social unrest on consumer sentiment, which significantly affected total sales[47] - The company is actively negotiating with landlords for rent concessions to mitigate operational costs amid ongoing social unrest[55] Cost Management - The Group's employee costs for the three months ended December 31, 2019, were HKD 13,770,000, down from HKD 15,884,000 in the same period of 2018, showing a reduction of about 13%[6] - Employee costs for the nine months ended December 31, 2019, were approximately HKD 41.6 million, a decrease of about 6.2% from HKD 44.3 million for the same period in 2018[49] - Rent expenses for the nine months ended December 31, 2019, were approximately HKD 3.2 million, a significant decrease of about 84.7% from HKD 21.1 million for the same period in 2018[52] Future Plans and Strategies - The group plans to continue evaluating its operational strategies and may consider market expansion opportunities in the future[20] - The company plans to enhance promotional efforts to maintain competitiveness, including seasonal food sales and collaboration with suppliers for household items[44] - The company will continuously adjust its business strategy based on the changing economic and restaurant industry conditions[45] - The company aims to monitor and evaluate the performance of each restaurant closely and implement cost control measures to minimize adverse impacts from underperforming locations[45] Compliance and Governance - The audit committee has reviewed the unaudited condensed consolidated financial statements for the nine months ended December 31, 2019, and believes they comply with applicable accounting standards and GEM listing rules[85] - The company has adopted the GEM Listing Rules as its corporate governance code and has complied with the applicable provisions during the reporting period[82] - The company has established an audit committee to oversee the appointment and remuneration of external auditors and to review the effectiveness of the audit process[84] - All directors confirmed compliance with the trading standards and the code of conduct for securities trading during the nine months ended December 31, 2019[79] Capital and Investments - The total capital raised from the IPO was HKD 32,600,000, with HKD 30,353,000 already utilized and HKD 2,247,000 remaining[60] - As of December 31, 2019, the company had unspent capital commitments of approximately HKD 0.4 million related to fixed asset acquisitions for new restaurants[64] - The company has registered as a rice merchant, allowing it to store rice for customers, creating an additional revenue source due to high demand in Hong Kong[42] Miscellaneous - The company has established a joint venture for frozen warehouse operations, which began in late April 2019, but growth has slowed due to social unrest affecting consumer sentiment and tourist numbers[41] - The company opened a new restaurant in November 2019, which has performed well due to a lack of similar offerings in the area[38] - The company has not granted, exercised, expired, or failed any stock options under the stock option plan as of December 31, 2019, and there are no unexercised stock options under the plan[81] - There were no significant matters that require disclosure occurring after December 31, 2019, up to the report date[83] - No directors or their associates have engaged in any business that competes directly or indirectly with the company during the nine months ended December 31, 2019[77] - The company has not entered into any significant transactions, arrangements, or contracts with directors or their associates during the reporting period[76] - The company has implemented a stock option plan aimed at attracting, retaining, and motivating participants for future development and expansion[81] - The company has appointed a compliance advisor in accordance with GEM Listing Rules, with no interests in the company's equity[78]
倩碧控股(08367) - 2020 Q3 - 季度财报