Financial Performance - The Group reported unaudited consolidated revenue of HKD 10 million for the three months ended June 30, 2020, compared to HKD 8 million in the same period of 2019, representing a growth of 25%[12] - The net profit for the Group for the first quarter of 2020 was HKD 2 million, an increase from HKD 1.5 million in the previous year, reflecting a growth of 33.3%[12] - Revenue for the three months ended June 30, 2020, was HK$10,421,000, a decrease of 26.5% compared to HK$14,196,000 for the same period in 2019[13] - Gross profit for the period was HK$5,156,000, down 30.6% from HK$7,421,000 in the previous year[13] - The company reported a loss for the period of HK$363,000, compared to a profit of HK$638,000 in the same period last year[13] - The total comprehensive income attributable to the owners of the company was a loss of HK$363,000, compared to a total comprehensive income of HK$604,000 in the previous year[13] - Basic and diluted loss per share was HK$0.05, compared to earnings per share of HK$0.08 in the same period last year[13] - The Group incurred a net loss of approximately HK$0.4 million for the three months ended June 30, 2020, compared to a net profit of approximately HK$0.6 million for the same period in 2019[55] Revenue Breakdown - Sales of biometric identification devices and security products amounted to HK$6,769,000, down 31.5% from HK$9,923,000 in the previous year[26] - Revenue from contracts recognized at a point in time was HK$7,378,000, a decline of 32.5% from HK$11,003,000 in the prior year[26] - Revenue from auxiliary and other services decreased by approximately HK$0.6 million (or 14.5%) compared to the same period in 2019[46] - The Group's revenue for the three months ended June 30, 2020, was approximately HK$10.4 million, a decrease of approximately 26.8% from HK$14.2 million for the same period in 2019[46] Cost and Expenses - Selling and distribution costs decreased to HK$930,000, down 21.5% from HK$1,185,000 in the previous year[13] - Administrative and other operating expenses were HK$4,880,000, a slight decrease from HK$5,362,000 in the same period last year[13] - Staff costs for the three months ended June 30, 2020, amounted to HK$5,637,000, an increase from HK$4,982,000 in the same period of 2019[37] - The Group's cost of inventories sold decreased by approximately 20.7% to approximately HK$3.9 million for the three months ended June 30, 2020[51] - Administrative expenses decreased by approximately HK$0.5 million to approximately HK$4.9 million for the three months ended June 30, 2020, primarily due to reduced travel and professional expenses[54] Future Outlook and Strategy - The Group plans to expand its market presence in Southeast Asia, targeting a 20% increase in market share by the end of 2021[12] - Future guidance indicates a projected revenue growth of 30% for the next quarter, driven by increased demand for digital solutions[12] - The Group is exploring potential acquisition opportunities to enhance its service offerings and expand its customer base in the technology sector[12] - A strategic partnership with a leading tech firm is expected to be finalized by Q4 2020, which will enhance the Group's technological capabilities[12] - The Group plans to enhance its marketing capabilities and expand its product portfolio to increase market share in Hong Kong and Macau[62] - The Group intends to utilize net proceeds from the Listing for launching affordable locally manufactured fingerprint identification devices in Southern China[62] - The Group aims to improve after-sale service quality and strengthen operational support as part of its expansion plan in Southern China[62] - A new independent software development center will be established in the PRC to enhance and develop the Group's software[62] - The Group is considering diversifying its business into artificial intelligence technology solutions, catering management, and trade services due to recent social events and the COVID-19 pandemic[62] Corporate Governance and Compliance - The company has established an Audit Committee to supervise the financial reporting process and internal control systems[90] - The financial information complies with applicable accounting standards and GEM Listing Rules, with adequate disclosures made[91] - The audit committee has been established in compliance with GEM Listing Rules and consists of three independent non-executive directors[92] - The unaudited condensed consolidated financial statements for the three months ended June 30, 2020, have been reviewed by the audit committee[92] - The audit committee believes that the financial information complies with applicable accounting standards and statutory requirements[92] Shareholding Structure - As of 30 June 2020, Mr. Tony Yuen and Ms. Pauline Yuen each hold a long position of 366,000,000 shares, representing 45.75% of the Company's issued share capital[66] - Delighting View holds 366,000,000 shares, representing 45.75% of the company's issued share capital[73] - Super Arena Limited owns 100,000,000 shares, accounting for 12.5% of the issued share capital[73] - Mr. Kor Sing Mung has an interest in 100,000,000 shares through Super Arena, also representing 12.5%[73] Taxation and Financial Position - The Group's subsidiary in Hong Kong is subject to profits tax at a rate of 8.25% for the first HK$2 million of profits and 16.5% for profits above that amount[5] - The Group's subsidiary in the PRC is subject to enterprise income tax at a rate of 25%, with no tax provided for the three months ended June 30, 2020, as it did not generate any assessable profits[5] - The Group's subsidiary in Macau has taxable income up to MOP 600,000 exempt from taxation, with income beyond this taxed at a rate of 12%[5] - The provision for Hong Kong Profits Tax for the period was HK$240,000, down from HK$386,000 in the same period last year[31] - The adoption of new accounting standards had no significant effects on the Group's results and financial position for the current and prior periods[23] - The Group's financial statements are prepared consistently with the accounting policies used in the annual consolidated financial statements[22]
懒猪科技(08379) - 2021 Q1 - 季度财报