Financial Performance - The group recorded revenue of approximately HKD 176,930,000 for the nine months ended December 31, 2020, compared to HKD 149,084,000 for the same period in 2019, representing an increase of 18.7%[4] - Profit attributable to owners of the company for the nine months ended December 31, 2020, was approximately HKD 2,196,000, up from HKD 678,000 for the same period in 2019, reflecting a growth of 224.3%[4] - Gross profit for the nine months ended December 31, 2020, was HKD 35,418,000, compared to HKD 36,257,000 for the same period in 2019, indicating a slight decrease of 2.3%[4] - The company reported a pre-tax profit of HKD 2,502,000 for the nine months ended December 31, 2020, compared to HKD 1,066,000 for the same period in 2019, marking an increase of 134.0%[4] - The company’s total comprehensive income for the nine months ended December 31, 2020, was HKD 2,196,000, compared to HKD 678,000 for the same period in 2019, reflecting a growth of 224.3%[4] - Other income for the nine months ended December 31, 2020, was HKD 2,513,000, compared to HKD 408,000 for the same period in 2019, representing a significant increase of 516.4%[4] - For the three months ended December 31, 2020, total revenue was HKD 72,570,000, an increase of 43.7% compared to HKD 50,479,000 for the same period in 2019[23] - The revenue from packaged food increased significantly to HKD 31,249,000 for the three months ended December 31, 2020, compared to HKD 11,463,000 in the same period of 2019, representing a growth of 173.5%[23] - Basic earnings per share for the nine months ended December 31, 2020, were HKD 2,196,000, compared to HKD 678,000 in the same period of 2019, indicating a significant increase[36] Expenses and Costs - Total sales and distribution expenses for the nine months ended December 31, 2020, were HKD 17,136,000, compared to HKD 16,961,000 for the same period in 2019, showing an increase of 1.0%[4] - The total employee costs for the nine months ended December 31, 2020, amounted to HKD 12,388,000, an increase of 7.2% from HKD 11,552,000 in the same period of 2019[31] - The cost of sales for the nine months ended December 31, 2020, was approximately HKD 141,512,000, an increase of about 25.4% from approximately HKD 112,827,000 for the same period in 2019[44] - Administrative expenses increased from approximately HKD 17,672,000 to about HKD 18,060,000, mainly due to rising employee costs and legal fees[50] - Financing costs rose to approximately HKD 217,000 from about HKD 6,000 in the same period of 2019[51] Dividends and Shareholder Information - The board of directors did not recommend the payment of any dividend for the nine months ended December 31, 2020, consistent with the previous year[4] - The company did not declare or recommend any dividends for the nine months ended December 31, 2020, consistent with the previous year[35] - As of December 31, 2020, the company had a total of 1,162,000,000 issued ordinary shares[68] - Mr. Huang Shaowen and Mr. Huang Shaohua each hold 602,800,000 shares, representing approximately 51.88% of the total shares[68] - The shareholding structure indicates that the controlling shareholders have significant influence over the company, with Mr. Huang Shaowen and Mr. Huang Shaohua holding substantial stakes[69] Assets and Liabilities - The company’s total assets as of December 31, 2020, were HKD 104,947,000, compared to HKD 106,324,000 as of December 31, 2019, indicating a decrease of 1.3%[13] - As of December 31, 2020, the group's bank balance and cash amounted to approximately HKD 34,415,000, down from HKD 54,001,000 as of March 31, 2020[56] - The current ratio as of December 31, 2020, was 7.8 times, compared to 8.3 times as of March 31, 2020[56] - The total interest-bearing borrowings as of December 31, 2020, were HKD 3,891,000, a decrease from HKD 6,297,000 as of March 31, 2020, resulting in a debt-to-equity ratio of 3.7%[58] Strategic Goals and Future Plans - The company plans to utilize approximately HKD 12,560,000 to upgrade its ERP system to enhance operational efficiency[64] - Approximately HKD 5,540,000 is allocated for sales and marketing activities to attract more customers and increase loyalty[64] - The company is actively leasing two warehouse facilities to accommodate increased inventory due to rising customer orders[63] - The board is committed to strategic goals including enhancing market position in the food and beverage distribution sector and improving operational efficiency[63] - The management team is focused on exploring opportunities for business diversification to enhance and broaden the customer base[66] - The company remains cautiously optimistic about maintaining core business amidst economic uncertainties caused by COVID-19[66] Compliance and Governance - The company confirmed compliance with the corporate governance code as of December 31, 2020[82] - The company has adopted a set of securities trading rules for directors, ensuring compliance with GEM Listing Rules[75] - The audit committee was established in accordance with GEM Listing Rules and consists of three independent non-executive directors[87] - The audit committee reviewed the unaudited consolidated results for the nine months ended December 31, 2020, and confirmed compliance with applicable accounting standards and GEM Listing Rules[87] - The executive directors include the chairman and CEO, indicating a strong leadership structure within the company[88] Market and Operational Insights - The company operates primarily in the trade and distribution of food and beverage grocery products in Hong Kong[16] - The company’s customer contracts are fixed-price contracts, and all customers are located in Hong Kong[25] - Sales of kitchen and hygiene products increased by approximately HKD 16,850,000 to about HKD 25,050,000, driven by heightened hygiene awareness due to the COVID-19 pandemic[42] - Mask sales contributed approximately HKD 16,126,000 to the company's revenue, compensating for the decline in food and beverage product sales[42] Other Income and Losses - Other income increased from approximately HKD 408,000 to about HKD 2,513,000, primarily due to government subsidies under the "Employment Support Scheme"[46] - The company recorded a net loss of approximately HKD 16,000 from other income and losses, compared to a net loss of about HKD 960,000 in the same period of 2019[47] - Interest expenses related to lease liabilities for the three months ended December 31, 2020, were HKD 62,000, compared to HKD 2,000 in the same period of 2019[29] - Other income, including government subsidies, amounted to HKD 7,809,000 for the three months ended December 31, 2020, compared to HKD 0 in the same period of 2019[28] No Significant Matters - No significant matters affecting the group were identified after December 31, 2020, up to the report date[84] - No directors or major shareholders had interests in any business that competes directly or indirectly with the group as of December 31, 2020[76] - The company has established internal control policies regarding the disclosure of inside information[75] - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the nine months ended December 31, 2020[80] - The company has not granted, exercised, or cancelled any options under the share option scheme since its adoption on March 27, 2017[74]
亚洲富思(08413) - 2021 Q3 - 季度财报