Financial Performance - The company's revenue for the three months ended March 31, 2021, was approximately HKD 50,742,000, an increase of 2.53% from HKD 49,492,000 in the same period last year[10] - EBITDA for the same period was HKD 22,901,000, reflecting a growth of 13.36% compared to HKD 20,202,000 in the previous year[10] - The net profit for the quarter was HKD 11,694,000, representing a significant increase of 41.61% from HKD 8,258,000 year-on-year[10] - Other income for the same period was HKD 6,572,000, significantly up from HKD 2,301,000 in the previous year, representing a growth of 186.4%[69] - The company's profit before tax was HKD 14,045,000, with a tax expense of HKD 2,351,000, resulting in a net profit of HKD 11,694,000, compared to HKD 8,258,000 in the prior year, marking a year-over-year increase of 41.5%[69] - Basic and diluted earnings per share for the period were HKD 2.59, up from HKD 1.89 in the same quarter of the previous year, reflecting a growth of 37%[69] - The group reported a total comprehensive income of HKD 10,377,000 for the period, with non-controlling interests contributing HKD 1,317,000[73] - The company's pre-tax profit for the three months ended March 31, 2021, was HKD 10,377,000, compared to HKD 7,554,000 for the same period in 2020, indicating a growth of 37%[108] Revenue Sources - The revenue breakdown shows that 76.02% came from elderly care services, while 23.98% was from the sale of related products and health services[16] - Revenue from elderly care services increased from approximately HKD 37,770,000 to HKD 38,574,000, a rise of about 2.13% compared to the same period last year[19] - Revenue from the sale of elderly-related products and health services increased from approximately HKD 11,722,000 to HKD 12,168,000, a rise of about 3.81%[26] - Revenue from personal client rentals accounted for 54.29% of total revenue, showing a slight decrease from 56.92% in the previous year[16] - Revenue from the Social Welfare Department's rental of fixed beds under the Improvement Purchase Scheme rose from approximately HKD 9,360,000 to HKD 9,676,000, an increase of about 3.38%[20] - Revenue from day care services provided under the Improvement Purchase Scheme amounted to approximately HKD 1,180,000 during the reporting period[21] - Revenue from individual clients renting beds decreased from approximately HKD 28,168,000 to HKD 27,549,000, a decline of about 2.20%[22] - Revenue from beds rented by non-governmental organizations fell from approximately HKD 242,000 to HKD 169,000, a decrease of about 30.17%[23] - The group generated approximately HKD 10,856,000 in revenue from the Hong Kong government's improvement purchase program, accounting for over 10% of total revenue[87] Operational Insights - The company operates seven elderly care homes in Hong Kong, with a strong demand for elderly care services driving growth in the sector[13] - The management team plans to continue expanding its network of elderly care homes in strategic locations in Hong Kong to serve more residents[13] - Average occupancy rates for the group's elderly care homes were 93.86% for the Improvement Purchase Scheme and 83.37% for non-Improvement Purchase Scheme homes, compared to 93.18% and 88.72% respectively in the previous year[27] - Employee costs increased from approximately HKD 18,989,000 to HKD 20,612,000, an increase of about 8.55% due to hiring more staff for health and personal care services[28] - Property rental and related expenses rose from approximately HKD 4,256,000 to HKD 4,486,000, an increase of about 5.40%[29] - The company has established a crisis response team to monitor the COVID-19 situation and has implemented enhanced infection control measures[14] - There was no adverse impact on the company's business operations due to the COVID-19 outbreak during the reporting period[14] Shareholder Information - As of March 31, 2021, Mr. Yi holds 262,980,000 shares, accounting for approximately 65.75% of the total equity[44] - Mr. Lei holds 36,032,000 shares, representing 9.01% of the total equity[45] - The major shareholder, Ruihua, holds 248,700,000 shares, which is approximately 62.18% of the total equity[50] - The total number of shares that may be issued upon the exercise of all options under the share option plan is 40,000,000, representing 10% of the shares issued as of the report date[42] - The total number of issued shares as of March 31, 2021, is 400,000,000[44] - The company has a controlled interest of 89.11% in Ruihua through Rui Zhuang Investment Co.[48] - As of March 31, 2021, there are no undisclosed interests or positions held by directors or key executives in the company or its affiliates[48] Compliance and Governance - The company has established an audit committee to oversee financial reporting and risk management, consisting of three independent non-executive directors[64] - The company is committed to adhering to applicable accounting standards and has ensured sufficient disclosures in its financial reports[64] - The group has adopted new and revised International Financial Reporting Standards, which are not expected to have a significant impact on the group's financial performance[84] - The company did not engage in any share buybacks or securities transactions during the reporting period[62] - The company has no options granted, exercised, or canceled during the reporting period[42] - The company has no new strategies or product developments disclosed in the report[51] - The company did not declare any dividends for the three months ended March 31, 2021, consistent with the same period in 2020[103]
恒智控股(08405) - 2021 Q1 - 季度财报