Financial Performance - Revenue for the first quarter of 2019 was HKD 92,404,000, representing a 26.2% increase from HKD 73,216,000 in the same period of 2018[5] - Gross profit for the first quarter was HKD 8,679,000, up 24.5% from HKD 6,968,000 year-on-year[5] - Profit before tax increased to HKD 4,045,000, a rise of 10.2% compared to HKD 3,671,000 in the previous year[5] - Net profit for the period was HKD 3,315,000, reflecting an increase of 7.3% from HKD 3,089,000 in the first quarter of 2018[5] - Basic earnings per share for the first quarter were HKD 0.41, compared to HKD 0.39 in the same quarter last year, marking a 5.1% increase[5] Expenses - Administrative expenses rose to HKD 3,673,000, up 25.2% from HKD 2,933,000 in the previous year[5] - Financing costs increased to HKD 545,000, a 42.7% rise from HKD 382,000 in the same period of 2018[5] - The group's cost of sales rose from approximately HKD 66.2 million to approximately HKD 83.7 million, an increase of approximately HKD 17.5 million or 26.4%, primarily due to increased subcontracting costs resulting from higher revenue[24] - Administrative expenses increased from approximately HKD 2.9 million to approximately HKD 3.7 million, an increase of approximately HKD 0.8 million or 27.6%, mainly due to business expansion and increased employee costs[28] - Financing costs rose from approximately HKD 0.4 million to approximately HKD 0.5 million, an increase of approximately HKD 0.1 million or 25.0%, attributed to higher bank borrowings[29] - Income tax expenses increased from approximately HKD 0.6 million to approximately HKD 0.7 million, an increase of approximately HKD 0.1 million or 16.7%, due to an increase in profit before tax[30] Shareholder Information - As of June 30, 2019, major shareholders Sharp Talen and Diamondfield each hold 533,000,000 shares, representing a combined ownership of 66.6% of the company's issued share capital[40] - The company did not declare an interim dividend for the period ending June 30, 2019[18] - The company did not declare any interim dividend for the three months ended June 30, 2019[50] Corporate Governance - The roles of the chairman and CEO are currently held by the same individual, which the board believes enhances strategic efficiency[47] - The company has complied with the applicable code provisions of the Corporate Governance Code as of June 30, 2019[47] - The company has established an audit committee to oversee the appointment and independence of external auditors[52] - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ended June 30, 2019[53] - There were no known conflicts of interest among directors or major shareholders as of June 30, 2019[43] Business Operations - The company operates primarily in the building renovation and engineering services sector in Hong Kong[9] - The company focuses on RMAA and renovation projects in Hong Kong, with future opportunities and challenges influenced by the property market and labor/material costs[33] - The company aims to leverage its experienced management team and industry reputation to maintain a competitive position in the market[33] - The company plans to utilize the net proceeds from its listing to strengthen its market position and expand its market share[33] Securities and Options - The company did not purchase, sell, or redeem any of its listed securities during the period ended June 30, 2019[45] - No share options were granted during the review period, and there were no unexercised share options as of June 30, 2019[51] - The company has adopted a share option scheme as of February 22, 2017, in accordance with GEM Listing Rules[51]
CHI HO DEV(08423) - 2020 Q1 - 季度财报