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CHI HO DEV(08423) - 2021 Q1 - 季度财报
CHI HO DEVCHI HO DEV(HK:08423)2020-08-13 13:25

Financial Performance - The company's revenue for the first quarter of 2020 was HKD 51,157,000, a decrease of 44.7% compared to HKD 92,404,000 in the same period of 2019[6] - Gross profit for the first quarter of 2020 was HKD 5,359,000, down 38.5% from HKD 8,679,000 in the first quarter of 2019[6] - The company's profit before tax for the first quarter of 2020 was HKD 2,796,000, a decline of 30.8% compared to HKD 4,045,000 in the same period of 2019[6] - The total comprehensive income for the period was HKD 2,522,000, down 24.0% from HKD 3,315,000 in the first quarter of 2019[6] - Basic earnings per share for the first quarter of 2020 were HKD 0.32, compared to HKD 0.41 in the same period of 2019, representing a decrease of 22.0%[6] - The total revenue of the group decreased from approximately HKD 92.4 million for the three months ended June 30, 2019, to approximately HKD 51.2 million for the three months ended June 30, 2020, a decrease of approximately HKD 41.2 million or 44.6%[24] - Gross profit decreased from approximately HKD 8.7 million for the three months ended June 30, 2019, to approximately HKD 5.4 million for the three months ended June 30, 2020, a decrease of approximately HKD 3.3 million or 37.9%[26] - The profit attributable to owners of the company decreased from approximately HKD 3.3 million for the three months ended June 30, 2019, to approximately HKD 2.5 million for the three months ended June 30, 2020, a decrease of approximately HKD 0.8 million or 24.2%[33] Expenses and Income - The company's administrative expenses for the first quarter of 2020 were HKD 3,213,000, a slight decrease from HKD 3,673,000 in the first quarter of 2019[6] - The cost of sales decreased from approximately HKD 83.7 million for the three months ended June 30, 2019, to approximately HKD 45.8 million for the three months ended June 30, 2020, a decrease of approximately HKD 37.9 million or 45.3%[25] - Other income increased from approximately HKD 32,000 for the three months ended June 30, 2019, to approximately HKD 1.1 million for the three months ended June 30, 2020[28] - Administrative expenses decreased from approximately HKD 3.7 million for the three months ended June 30, 2019, to approximately HKD 3.2 million for the three months ended June 30, 2020, a decrease of approximately HKD 0.5 million or 13.5%[30] - The company reported other income of HKD 1,117,000 for the first quarter of 2020, significantly higher than HKD 32,000 in the same period of 2019[6] Dividends and Shareholder Information - The company did not recommend any interim dividend for the period ending June 30, 2020, consistent with no dividend declared in the same period of 2019[19] - No dividends were proposed for the three months ending June 30, 2020[49] - Major shareholders, Mr. Liang and Mr. Ho, each hold 533,000,000 shares, representing 66.6% of the company's total issued shares[38] - Both Mr. Liang and Mr. Ho are recognized as beneficial owners of their respective companies, Sharp Talent and Diamondfield, which also hold 100% of their shares[39] Compliance and Governance - The company has adopted a code of conduct for directors' securities trading, compliant with GEM Listing Rules[48] - The company has maintained compliance with the corporate governance code as per GEM Listing Rules[46] - There were no known conflicts of interest or competitive businesses held by directors or major shareholders as of June 30, 2020[44] - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ending June 30, 2020[53] - The company’s chairman and CEO roles are held by Mr. Liang, with a review of this structure planned as necessary[46] Market Outlook and Strategy - The group anticipates that the construction industry and RMAA sector growth will be adversely affected and slow down due to the pandemic and related quarantine policies[34] - The group has developed several action plans, including close communication with construction material suppliers and temperature checks for workers before entering construction sites[34] - The board believes that the number of properties to be constructed and maintained in Hong Kong will remain a key driver for the growth of the RMAA and renovation industry[36] - The group aims to consolidate its market position and expand its market share despite challenges faced in the industry[36] Financing and Securities - The company's financing costs decreased to HKD 467,000 in the first quarter of 2020 from HKD 545,000 in the same period of 2019[6] - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[45] - There were no stock options granted during the review period, and no unexercised stock options remained as of June 30, 2020[50]