Financial Performance - For the three months ended March 31, 2020, the group's revenue was approximately HKD 16.1 million, a decrease of about 14.9% compared to HKD 18.9 million for the same period in 2019[6]. - The gross profit margin for the three months ended March 31, 2020, was approximately 16.0%, down from 18.1% for the same period in 2019[6]. - The group reported a loss of approximately HKD 1.5 million for the three months ended March 31, 2020, compared to a loss of HKD 0.5 million for the same period in 2019[6]. - Basic loss per share for the three months ended March 31, 2020, was approximately HKD 0.19, compared to HKD 0.06 for the same period in 2019[6]. - The total comprehensive loss for the three months ended March 31, 2020, was HKD 2.2 million, compared to a comprehensive income of HKD 0.9 million for the same period in 2019[7]. - The group's gross profit fell by approximately 24.7% from about HKD 3.4 million for the three months ended March 31, 2019, to about HKD 2.6 million for the same period in 2020[26]. - The cost of sales decreased by approximately 12.8% from about HKD 15.5 million for the three months ended March 31, 2019, to about HKD 13.5 million for the same period in 2020[25]. Expenses - The group's selling and distribution expenses for the three months ended March 31, 2020, were HKD 703,000, down from HKD 869,000 for the same period in 2019[7]. - The group's administrative expenses for the three months ended March 31, 2020, were HKD 3.6 million, compared to HKD 3.0 million for the same period in 2019[7]. - Sales and distribution expenses decreased from approximately HKD 0.9 million for the three months ended March 31, 2019, to approximately HKD 0.7 million for the three months ended March 31, 2020, a decline of about 19.1%[28]. - Administrative expenses increased from approximately HKD 3.0 million for the three months ended March 31, 2019, to approximately HKD 3.6 million for the three months ended March 31, 2020, primarily due to adjustments in management and employee salaries[28]. Income and Tax - Other income for the three months ended March 31, 2020, was HKD 365,000, compared to HKD 207,000 for the same period in 2019[7]. - The income tax expense for the three months ended March 31, 2020, was HKD 106 thousand, a decrease from HKD 247 thousand in 2019[14]. - Income tax expenses rose from approximately HKD 37,000 to approximately HKD 0.1 million for the same periods, an increase of about HKD 69,000[29]. Dividends - The board of directors did not recommend the payment of any dividend for the three months ended March 31, 2020, consistent with no dividends declared for the same period in 2019[6]. - The company did not declare or pay any dividends during the two periods[18]. - No dividends were declared or paid to ordinary shareholders for the three months ended March 31, 2020, consistent with the same period in 2019[33]. Shareholder Information - The major shareholder, Vertical Investment, holds 600,000,000 shares, representing 75% of the company's equity[40]. Corporate Governance - The company has adopted the corporate governance code as per GEM listing rules and has complied with its provisions, except for the separation of roles between the Chairman and CEO[46]. - The audit committee has been established with three independent non-executive directors to oversee internal audit functions and financial reporting processes[50]. Operational Impact - The ongoing COVID-19 pandemic has caused delays in factory operations post-Chinese New Year, impacting revenue[23]. - The company plans to continue investing in technology development to enhance its competitive advantage despite economic uncertainties[23]. Other Information - The company had no significant capital commitments as of March 31, 2020, compared to approximately HKD 0.9 million as of March 31, 2019[34]. - There were no significant acquisitions or disposals during the three months ended March 31, 2020[35]. - The company had no significant contingent liabilities as of March 31, 2020[36]. - No purchase, sale, or redemption of the company's listed securities occurred during the three-month period ending March 31, 2020[48].
数盟资本(08375) - 2020 Q1 - 季度财报