Financial Performance - The company's revenue for the nine months ended December 31, 2020, was HKD 197,325,000, a decrease of 38.1% compared to HKD 319,006,000 for the same period in 2019[4] - Gross profit for the nine months was HKD 24,915,000, down 30.5% from HKD 35,814,000 in the previous year[4] - The net profit for the nine months was HKD 12,810,000, representing a decline of 24.8% from HKD 17,006,000 in 2019[4] - Basic earnings per share for the nine months was HKD 1.61, down from HKD 2.13 in the same period last year, a decrease of 24.4%[4] - Revenue decreased from approximately HKD 319.0 million for the nine months ended December 31, 2019, to approximately HKD 197.3 million for the nine months ended December 31, 2020, a decline of about 38.2%[22] - Gross profit decreased from approximately HKD 35.8 million for the nine months ended December 31, 2019, to approximately HKD 24.9 million for the nine months ended December 31, 2020, while the overall gross margin increased from approximately 11.2% to approximately 12.6%[24] - Profit attributable to owners decreased from approximately HKD 17.0 million for the nine months ended December 31, 2019, to approximately HKD 12.8 million for the nine months ended December 31, 2020, a decline of about 24.7%[31] Expenses and Costs - The company reported a financing cost of HKD 1,449,000 for the nine months, down from HKD 1,775,000 in the previous year, a reduction of 18.4%[4] - Administrative expenses for the nine months were HKD 8,884,000, a decrease of 26.1% compared to HKD 12,062,000 in 2019[4] - Cost of sales decreased from approximately HKD 283.2 million for the nine months ended December 31, 2019, to approximately HKD 172.4 million for the nine months ended December 31, 2020, a decline of about 39.1%[23] - Administrative expenses decreased by approximately HKD 3.2 million or 26.4% from approximately HKD 12.1 million for the nine months ended December 31, 2019, to approximately HKD 8.9 million for the nine months ended December 31, 2020[27] - Financing costs decreased from approximately HKD 1.8 million for the nine months ended December 31, 2019, to approximately HKD 1.4 million for the nine months ended December 31, 2020, a decrease of about 22.2%[28] - Income tax expense decreased from approximately HKD 3.5 million for the nine months ended December 31, 2019, to approximately HKD 2.2 million for the nine months ended December 31, 2020, a decrease of about 37.1%[29] Equity and Dividends - The total equity as of December 31, 2020, was HKD 118,869,000, an increase from HKD 105,551,000 as of December 31, 2019[6] - The company declared dividends of HKD 2,000,000 during the period, reducing the retained earnings[6] - The company did not recommend any interim dividend for the nine months ended December 31, 2020[46] Corporate Governance - The audit committee has been established in accordance with the corporate governance code and GEM listing rules, consisting of three independent non-executive directors[49] - The audit committee is responsible for reviewing the independence and objectivity of external auditors and overseeing the effectiveness of the audit process[49] - The audit committee has reviewed the unaudited consolidated financial statements for the nine months ended December 31, 2020[49] Industry Outlook and Operations - The company operates primarily in the building maintenance and construction services sector in Hong Kong[9] - The company anticipates that the construction industry and RMAA sector growth will be adversely affected and slow down due to the pandemic[32] - The company has implemented action plans to mitigate supply chain disruptions, including close communication with suppliers and temperature checks for workers before entering construction sites[34] Shareholding Structure - As of December 31, 2020, both Mr. Liang and Mr. Ho hold 533,000,000 shares, representing 66.6% of the company's total shares[35] - Mr. Liang's shares include 363,410,000 shares held by his wholly-owned company Sharp Talent and 169,590,000 shares due to his acting in concert with Mr. Ho[39] - Mr. Ho's shares include 169,590,000 shares held by his wholly-owned company Diamondfield and 363,410,000 shares due to his acting in concert with Mr. Liang[39] Other Information - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards and have not been reviewed by the company's auditors[11] - No share options were granted during the period, and there were no unexercised share options as of December 31, 2020[48]
CHI HO DEV(08423) - 2021 Q3 - 季度财报