Financial Performance - Revenue for the three months ended December 31, 2018, was HKD 81,078,000, a decrease of 27.7% compared to HKD 112,257,000 for the same period in 2017[4]. - Gross profit for the nine months ended December 31, 2018, was HKD 31,899,000, slightly up from HKD 31,687,000 in 2017, indicating a stable performance[4]. - The net profit for the nine months ended December 31, 2018, was HKD 14,629,000, down 15.3% from HKD 17,287,000 in the same period of 2017[4]. - Basic earnings per share for the nine months ended December 31, 2018, was HKD 1.83, compared to HKD 2.16 for the same period in 2017, reflecting a decrease of 15.3%[4]. - Revenue decreased from approximately HKD 355.4 million for the nine months ended December 31, 2017, to approximately HKD 223.8 million for the nine months ended December 31, 2018, a decline of about 37.0%[22]. - Cost of sales decreased from approximately HKD 323.7 million for the nine months ended December 31, 2017, to approximately HKD 191.9 million for the nine months ended December 31, 2018, a decline of about 40.7%[23]. - Gross profit increased from approximately HKD 31.7 million for the nine months ended December 31, 2017, to approximately HKD 31.9 million for the nine months ended December 31, 2018, with the overall gross margin rising from about 8.9% to approximately 14.3%[24]. - Profit attributable to owners decreased from approximately HKD 17.3 million for the nine months ended December 31, 2017, to approximately HKD 14.6 million for the nine months ended December 31, 2018, a decrease of about 15.6%[30]. Expenses and Costs - Administrative expenses increased to HKD 12,665,000 for the nine months ended December 31, 2018, from HKD 9,556,000 in 2017, representing a rise of 32.5%[4]. - Administrative expenses increased by approximately HKD 3.1 million or 32.3% from about HKD 9.6 million for the nine months ended December 31, 2017, to about HKD 12.7 million for the nine months ended December 31, 2018[26]. - The financing costs for the nine months ended December 31, 2018, were HKD 1,348,000, slightly up from HKD 1,297,000 in 2017[4]. - Financing costs remained stable at approximately HKD 1.3 million for both the nine months ended December 31, 2017, and December 31, 2018[27]. - Income tax expenses decreased from approximately HKD 3.6 million for the nine months ended December 31, 2017, to approximately HKD 3.3 million for the nine months ended December 31, 2018, a decrease of about 8.3%[28]. Shareholder Information - The company did not recommend the payment of an interim dividend for the nine months ended December 31, 2018[16]. - The company did not declare any interim dividends for the nine months ending December 31, 2018[45]. - As of December 31, 2018, major shareholders Sharp Talent and Diamondfield each hold 533,000,000 shares, representing a combined ownership of 66.6% of the company's issued share capital[38]. - No share options were granted during the period, and there were no unexercised share options as of December 31, 2018[46]. Corporate Governance - The company has established an audit committee to oversee the appointment and independence of external auditors, consisting of three independent non-executive directors[47]. - The company has complied with the corporate governance code as per GEM listing rules, with the roles of chairman and CEO currently held by the same individual[43]. - No known conflicts of interest or competitive businesses were reported among directors or major shareholders as of December 31, 2018[40]. - The company has not received any notifications from individuals regarding their interests in the company's shares or related securities as of December 31, 2018[39]. - The company has adopted a code of conduct for directors' securities transactions, adhering to GEM listing rules[44]. - The company has entered into a compliance advisory agreement with a financing company, with no reported interests that require disclosure under GEM listing rules[41]. Market Position and Future Outlook - The company operates solely in the building maintenance and construction services sector in Hong Kong, with no further segment analysis provided[15]. - The company anticipates that the number of properties to be constructed and maintained in Hong Kong will continue to be a key driver for the RMAA and renovation industry[31]. - The management team believes that the company is well-positioned to compete with peers due to its experienced management and industry reputation[31]. - The company plans to utilize the net proceeds from its listing to strengthen its market position and expand its market share[31].
CHI HO DEV(08423) - 2019 Q3 - 季度财报