Revenue and Profitability - The group's revenue for the nine months ended December 31, 2020, increased by approximately 9.8% to about HKD 46.1 million compared to approximately HKD 42.0 million in the previous period[12]. - The group's export business, primarily located in Europe and the United States, accounted for approximately 87.2% of total revenue, with export revenue increasing by about 5.2% to approximately HKD 40.2 million from approximately HKD 38.2 million in the previous period[9]. - Gross profit rose by approximately 24.8% to about HKD 14.1 million from approximately HKD 11.3 million in the previous period, with gross profit margin increasing from about 26.9% to approximately 30.6%[14]. - E-commerce revenue for the period was approximately HKD 4.1 million, up from approximately HKD 3.8 million in the previous period, reflecting a shift towards online shopping[9]. - Revenue for the nine months ended December 31, 2020, was HKD 46,143,000, an increase from HKD 41,975,000 for the same period in 2019, representing a growth of approximately 5.2%[42]. - Gross profit for the nine months ended December 31, 2020, was HKD 14,142,000, compared to HKD 11,281,000 in 2019, indicating a growth of about 25.4%[42]. - The company reported a net loss attributable to shareholders of HKD 126,000 for the nine months ended December 31, 2020, compared to a loss of HKD 5,765,000 in the same period of 2019, showing a significant improvement[42]. - The company reported a profit of approximately HKD 170,000 for the three months ending December 31, 2020, compared to a loss of approximately HKD 2,262,000 for the same period in 2019[69]. Expenses and Financial Management - The group's administrative expenses decreased by approximately 24.6% to about HKD 8.6 million from approximately HKD 11.4 million in the previous period, mainly due to reduced depreciation of property, plant, and equipment[17]. - The group's selling and distribution expenses remained stable at approximately HKD 6.4 million compared to the previous period[16]. - Total operating expenses for the nine months ended December 31, 2020, were HKD 15,022,000, down from HKD 17,021,000 in 2019, reflecting a decrease of approximately 11.7%[42]. - The company incurred finance costs of HKD 39,000 for the nine months ended December 31, 2020, compared to HKD 26,000 in the previous year, representing an increase of about 50%[42]. - The company reported rental expenses of HKD 39,000 for the nine months ended December 31, 2020, and HKD 12,000 for the three months ended October 31, 2020, reflecting cost management efforts[63]. - Short-term benefits for the nine months ended December 31, 2020, amounted to HKD 2,152,000, compared to HKD 1,926,000 for the same period in 2019[72]. - Short-term benefits for the three months ended December 31, 2020, were HKD 822,000, compared to HKD 642,000 for the same period in 2019[72]. Taxation and Compliance - Income tax expenses for the period were approximately HKD 28,000, slightly up from approximately HKD 20,000 in the previous period due to increased taxable profits from certain subsidiaries[18]. - The income tax expense for the nine months ended December 31, 2020, included HKD 30,000 for Hong Kong profits tax, while the three months ended October 31, 2020, showed an expense of HKD 18,000[64]. - The company has not incurred any corporate income tax in China during the reporting period due to the absence of taxable profits[66]. - The effective tax rate for the first HKD 2 million of taxable profits in Hong Kong is reduced to 8.25%, with profits exceeding this amount taxed at 16.5%[65]. - The company has maintained a tax exemption status in the Cayman Islands and British Virgin Islands due to the lack of business operations in those jurisdictions[65]. - The company reported a provision for tax expenses of HKD 28,000 for the nine months ended December 31, 2020, compared to HKD 20,000 for the three months ended October 31, 2020[64]. Corporate Governance and Structure - The board of directors does not recommend the payment of any dividend for the current period, consistent with the previous period[22]. - The company has adopted a share option scheme to reward eligible participants for their contributions, but no options have been granted or exercised as of the report date[21]. - Major shareholders include Hearthfire Limited, holding approximately 61.125% of the shares, and Present Limited, holding approximately 8.625%[29]. - The chairman and CEO roles are currently held by the same individual, which the board believes enhances internal leadership consistency[25]. - The company has complied with all applicable corporate governance codes during the reporting period[26]. - The company has established a set of conduct rules for directors regarding securities trading, ensuring compliance with relevant regulations[27]. - The company will continue to review its governance structure and may separate the roles of chairman and CEO in the future if deemed appropriate[25]. - The company has established an audit committee consisting of three independent non-executive directors to ensure compliance with corporate governance standards[40]. Market Performance and Strategy - The group plans to expand its product portfolio and increase brand awareness to improve business performance in response to changing consumer behavior[11]. - The company is focused on improving its operational efficiency and reducing costs to enhance profitability in future periods[42]. - The company is primarily engaged in the trading, design, and e-commerce of household goods, which may influence its market expansion strategies[49]. - The group reported a net income from foreign exchange of HKD (210,000) for the three months ending December 31, 2020, compared to HKD (5,000) in the same period of 2019[58]. - Revenue from the UK market was HKD 17,269,000 for the nine months ending December 31, 2020, up from HKD 15,494,000 in the same period of 2019, reflecting a growth of 11.5%[60]. - Revenue from the US market decreased to HKD 4,406,000 for the nine months ending December 31, 2020, down from HKD 4,895,000 in the same period of 2019, a decline of 10%[60]. - The group’s total revenue for the nine months ending December 31, 2020, was HKD 46,143,000, compared to HKD 41,975,000 in the same period of 2019, indicating an overall growth of 10.3%[60]. Financial Position and Assets - The company’s total equity as of December 31, 2020, was HKD 39,489,000, down from HKD 45,074,000 as of December 31, 2019, representing a decrease of approximately 12.4%[46]. - As of December 31, 2020, the company's retained earnings showed a cumulative loss of HKD 6,913,000, compared to HKD 1,322,000 as of December 31, 2019[46]. - The company’s total comprehensive income for the three months ended December 31, 2020, was HKD (123,000), compared to HKD (2,252,000) for the same period in 2019, indicating a worsening performance[44]. - The company’s total assets and liabilities have not been detailed in the provided documents, indicating a need for further financial disclosures in future reports[49]. - The financial data presented is unaudited and based on the historical cost convention, which may affect the assessment of the company's financial health[54]. - The company is expected to reflect changes in accounting policies in its annual financial statements for the year ending March 31, 2021, which could impact future financial results[52]. - The group’s non-current assets in Hong Kong amounted to HKD 2,182,000 as of December 31, 2020, compared to HKD 1,860,000 as of March 31, 2020, showing an increase of 17.3%[60]. - The group’s non-current assets in China were HKD 2,079,000 as of December 31, 2020, compared to HKD 1,932,000 as of March 31, 2020, reflecting a growth of 7.6%[60].
舍图控股(08392) - 2021 Q3 - 季度财报