Financial Performance - Revenue for the nine months ended December 31, 2020, was HKD 282,564,000, a decrease of 4.5% compared to HKD 295,120,000 for the same period in 2019[7] - The net profit for the nine months ended December 31, 2020, was HKD 16,650,000, down 40.1% from HKD 27,707,000 in the previous year[9] - Basic earnings per share for the nine months was HKD 4.5, compared to HKD 7.3 for the same period in 2019, reflecting a decline of 38.4%[14] - Total comprehensive income for the nine months was HKD 17,469,000, a decrease of 37.0% from HKD 27,707,000 in the previous year[7] - The group reported a gross profit of HKD 196,670,000 for the nine months, which is a decrease of 5.5% from HKD 208,496,000 in the same period last year[7] - Employee costs for the nine months were HKD 77,503,000, down 9.0% from HKD 85,196,000 in the previous year[7] - The group incurred finance costs of HKD 4,882,000 for the nine months, an increase of 26.0% compared to HKD 3,870,000 in the previous year[7] - The total income for the three months ended December 31, 2020, was HKD 103,428,000, an increase of 9.4% from HKD 94,093,000 in the same period of 2019[7] - For the nine months ended December 31, 2020, the company reported a profit attributable to owners of the company of HKD 17,308,000, a decrease of 37.5% compared to HKD 27,707,000 for the same period in 2019[32] - The basic earnings per share for the nine months ended December 31, 2020, was HKD 0.045, down from HKD 0.073 for the same period in 2019[32] - The company did not recommend the payment of an interim dividend for the nine months ended December 31, 2020[31] Operational Developments - The company opened six new restaurants during the nine months ended December 31, 2020, increasing the total number of restaurants in Hong Kong from 28 to 32[34] - The company has a total of 9 "Niuqi" restaurants as of December 31, 2020, up from 6 on March 31, 2020[34] - The company confirmed lease agreements for new restaurants, including a location in Shanghai with an expected opening in the second quarter of 2021[36] - The company plans to open two new restaurant leases in China by May 2021, in addition to an existing location in Shanghai[122] - The company opened several new restaurants in 2020, contributing to revenue growth despite overall declines[70] Customer Metrics - As of December 31, 2020, the total number of customers served by the company's restaurants was 1,621,019, a decrease of 343,123 customers or 17.5% compared to the same period in 2019[53] - The company reported a total of 1,268,533 customers served in the nine months ending December 31, 2020, with a significant decline in foot traffic due to COVID-19 restrictions[51] - The average spending per customer increased from HKD 150.3 in 2019 to HKD 174.3 in 2020, while excluding snack kiosks and dessert businesses, the average spending rose to HKD 182.6[53] - The average spending at snack kiosks increased by 6.3% to HKD 41.4, while the average spending in the dessert business rose by 15.4% to HKD 77.9 compared to 2019[53] Impact of COVID-19 - The COVID-19 pandemic significantly impacted customer numbers due to government-imposed social distancing measures, particularly in July, August, and December 2020[59] - The company’s restaurant operations faced restrictions on dine-in services, limiting table sizes and operating hours during various phases of the pandemic[58] - The company experienced significant revenue fluctuations due to COVID-19 restrictions, with a notable rebound in September 2020 following the easing of social distancing measures[104] Financial Position and Funding - The company raised approximately HKD 9,576,000 from the placement and subscription of shares, with a net amount of approximately HKD 9,326,000 after costs[65] - The net proceeds from the share placement are intended for general corporate purposes and expansion of restaurant operations, particularly in China[65] - The company received approximately HKD 21,200,000 and HKD 3,400,000 in subsidies from the Hong Kong government under the Anti-epidemic Fund's second and third phases, respectively[105] - The company obtained approximately HKD 6,200,000 in rent concessions from landlords during the nine months ended December 31, 2020[108] - Total borrowings as of December 31, 2020, were approximately HKD 1,100,000, a decrease of 46.8% from March 31, 2020[117] - Cash and cash equivalents stood at HKD 87,900,000 as of December 31, 2020[117] Strategic Focus - The company plans to continue exploring market expansion opportunities and new product development to enhance future growth[21] - The company’s strategic focus includes enhancing service levels and marketing activities to improve brand recognition amidst challenging market conditions[61] - The company aims to enhance food quality and service while maintaining value for money during challenging times[122] Governance and Compliance - The company has complied with the corporate governance code as per GEM Listing Rules during the nine months ending December 31, 2020[133] - The Audit Committee, consisting of independent non-executive directors, reviewed the unaudited consolidated financial statements for the nine months ending December 31, 2020[134] - No directors or major shareholders engaged in any business that competes with the group as of December 31, 2020[133] - The company confirmed that all directors adhered to the trading standards required by GEM Listing Rules during the reporting period[133] - The company has not disclosed any other interests or short positions in shares or debentures as of December 31, 2020[130] Shareholding Structure - As of December 31, 2020, Mr. Huang and Ms. Chen each hold 260,302,000 shares, representing approximately 67.273% of the company's shares[124] - IKEAB Limited, owned 70% by Mr. Huang and 30% by Ms. Chen, holds 250,318,000 shares, accounting for 64.693% of the company's shares[128] Miscellaneous - The company expressed gratitude to all employees and management for their contributions during the reporting period[136] - The company did not purchase, sell, or redeem any listed securities during the nine months ending December 31, 2020[132] - The company applied new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial performance and position for the current and prior years[29] - The company’s financial statements for the nine months ended December 31, 2020, were unaudited but reviewed by the audit committee[24] - Depreciation of property, plant, and equipment rose by 42.4% to HKD 13,153,000, accounting for 4.7% of revenue, compared to 3.1% last year[113] - Other expenses increased by 12.2% to HKD 17,598,000, representing 6.2% of revenue, up from 5.3% in the previous year[115]
尝高美集团(08371) - 2021 Q3 - 季度财报