Financial Performance - The group's revenue for the nine months ended December 31, 2020, was approximately HKD 72.3 million, an increase of about HKD 2.5 million or 3.6% compared to the same period in 2019[6]. - Core net profit, excluding one-off government wage subsidies, was approximately HKD 7.2 million, a decrease of about HKD 2.0 million or 22.1% compared to the same period in 2019[6]. - Total comprehensive income for the nine months ended December 31, 2020, was approximately HKD 10.4 million, an increase of about HKD 1.2 million or 12.5% compared to the same period in 2019[6]. - Gross profit for the nine months ended December 31, 2020, was HKD 51.5 million, compared to HKD 50.9 million in the same period of 2019[9]. - Profit attributable to equity holders for the nine months ended December 31, 2020, was HKD 10.4 million, compared to HKD 9.2 million in the same period of 2019[9]. - Basic and diluted earnings per share for the nine months ended December 31, 2020, were HKD 0.66, compared to HKD 0.58 in the same period of 2019[9]. - The group's profit increased by approximately 12.5% from about 9.2 million HKD to approximately 10.4 million HKD for the nine months ended December 31, 2020[37]. - Basic earnings per share increased from 0.58 HKD to 0.66 HKD[25]. Revenue Sources - Revenue from furniture and home accessories sales was HKD 56.6 million, up from HKD 52.7 million in 2019, representing an increase of approximately 7.3%[40]. - Online sales and non-retail sales contributed HKD 6.8 million, which is 12.0% of total furniture and home accessories sales, compared to 5.4% in the previous year[44]. - The company generated HKD 2.4 million in distribution and licensing fee income, maintaining a stable contribution of approximately 3.3% to total revenue[47]. - Food and beverage income from TREE Café was stable at approximately HKD 2.1 million, compared to HKD 2.0 million in the previous year[48]. - Consulting income increased to approximately HKD 1.6 million, primarily from design and consulting services for residential demonstration units in Hong Kong[50]. Expenses and Costs - The cost of sales rose from approximately 18.9 million HKD to approximately 20.8 million HKD, an increase of about 10.1%, primarily due to higher sales of furniture and home decor in Hong Kong[29]. - Selling and marketing expenses rose by about 12.9% from approximately 27.7 million HKD to approximately 31.2 million HKD, mainly due to increased marketing expenses related to expanding agency services in Shanghai, China[33]. - Administrative expenses decreased by approximately 13.1% from about 12.8 million HKD to approximately 11.1 million HKD, primarily due to a reduction in professional fees[34]. - Income tax expenses decreased from approximately 1.5 million HKD to approximately 1.2 million HKD[36]. Dividend and Share Issuance - The board of directors did not recommend the payment of an interim dividend for the nine months ended December 31, 2020[6]. - The company raised a total of HKD 20.3 million from the share issuance, with HKD 12.3 million utilized by December 31, 2020, leaving HKD 8.0 million unutilized[56]. - The company plans to allocate the unutilized funds of approximately HKD 8.0 million to pay future consideration for the acquisition of Hong Kong Yishang Family, which was completed on December 31, 2018[56]. - The expected payment for the acquisition is not less than approximately HKD 11.2 million within one month from the audited accounts date ending December 31, 2020, with the payment anticipated in the second quarter of 2021[56]. Corporate Governance and Compliance - The company maintains good corporate governance practices in line with GEM listing rules and has complied with applicable governance code provisions[71]. - The audit committee has reviewed the unaudited consolidated financial statements for the relevant period[80]. - The company has not purchased, sold, or redeemed any of its listed securities during the nine months ending December 31, 2020[69]. - The company did not recommend the payment of an interim dividend for the relevant period[75]. - The company has not granted any share options under the share option scheme during the relevant period[77]. Future Plans and Developments - The company plans to enhance its revenue sources and explore new opportunities, particularly by providing furniture agency services for imports from Italy to China[53]. - The company has obtained a low-carbon care label, reflecting its commitment to sustainable development and social responsibility initiatives[52]. - The company operates three retail stores in Hong Kong and launched online sales in May 2019, expanding its market presence[40]. - The board has revised the use of unutilized funds considering the business environment and the group's development, particularly due to the political unrest in 2019 and the COVID-19 outbreak[56].
中显智能齐家控股(08395) - 2021 Q3 - 季度财报