Financial Performance - Total revenue for the first quarter of 2020 was HKD 12,839,000, a decrease of 28.2% compared to HKD 17,901,000 in the same period of 2019[4] - Gross profit for the first quarter was HKD 5,816,000, down 11.3% from HKD 6,555,000 year-on-year[4] - Profit before tax was HKD 3,824,000, a decline of 14.7% from HKD 4,483,000 in the previous year[4] - The company reported a net profit attributable to shareholders of HKD 3,064,000, an increase of 55.5% compared to HKD 1,969,000 in the same quarter of 2019[4] - Basic and diluted earnings per share for the quarter were HKD 0.77, up from HKD 0.49 in the same period last year[4] - The profit and total comprehensive income for the three months ended June 30, 2020, increased by approximately 55.6% to about HKD 3.1 million, compared to approximately HKD 2.0 million in 2019[32] - Basic earnings per share for the period was HKD 0.77, up from HKD 0.49 in the same period last year[19] Revenue Breakdown - Revenue from leasing and related services was HKD 12,056,000, significantly up from HKD 8,881,000 in 2019, indicating a growth of 35.5%[14] - Revenue from equipment and parts trading dropped to HKD 783,000 from HKD 9,020,000, a decline of 91.3% year-on-year[14] - The company's revenue for the three months ended June 30, 2020, decreased by approximately 28.3% to about HKD 12.8 million, compared to approximately HKD 17.9 million for the same period in 2019[25] Expenses and Costs - The cost of sales and services for the same period was approximately HKD 7.0 million, a decrease of about 38.1% from HKD 11.3 million in 2019[26] - Administrative expenses for the quarter were HKD 2,021,000, slightly down from HKD 2,067,000 in the previous year[4] - Administrative expenses remained stable at approximately HKD 2.0 million, a slight decrease of 2.2% from HKD 2.1 million in 2019[30] - The income tax expense for the three months ended June 30, 2020, was HKD 760,000, a decrease from HKD 2.514 million in 2019[17] Corporate Governance - The company has established an audit committee consisting of three independent non-executive directors, which has reviewed the unaudited consolidated financial statements[48] - The company has complied with all corporate governance code provisions as of June 30, 2020, except for the separation of the roles of Chairman and CEO[42] - Mr. Deng Xingqiang serves as both Chairman and CEO, which the board believes provides strong and consistent leadership for the company[42] - The company has adopted the GEM Listing Rules regarding the trading of securities by directors[47] Shareholder Information - The company is owned 30.0% by the investment holding company Xingji Limited, which is controlled by Mr. Deng Xingqiang and Ms. Qu Fengyi, holding 90% and 10% respectively[35] - Ms. Woo Lan Ying holds a beneficial interest in 93,688,000 shares, representing approximately 23.42% of the total issued shares[41] - As of June 30, 2020, there were no share options granted under the company's share option scheme since its adoption, and no options were exercised or lapsed during the period[44] - The company has not disclosed any interests or short positions in shares or related securities by its directors or senior management as of June 30, 2020[40] Strategic Outlook - The company aims to leverage its expertise to capture emerging opportunities in the equipment rental industry and seeks sustainable returns for shareholders[23] - The company continues to evaluate the impact of new accounting standards but has not identified any significant changes to its financial performance[12] Other Information - The company did not declare any dividends for the three months ended June 30, 2020, consistent with the previous year[18] - Other income increased to approximately HKD 169,000 for the three months ended June 30, 2020, compared to HKD 135,000 in 2019, mainly due to government subsidies[28] - There were no purchases, sales, or redemptions of the company's listed securities during the three months ended June 30, 2020[46] - The company does not have any knowledge of any business or interests that may compete with its operations as of June 30, 2020[45] - The executive directors include Mr. Tang Hing Keung (Chairman and CEO), Mr. Tang Ming Hei, and Ms. Au Man Yi[50] - The first quarter performance report for 2020 was presented by Xing Ming Holdings Limited[50]
兴铭控股(08425) - 2021 Q1 - 季度财报