Financial Performance - Revenue for the three months ended June 30, 2019, was HKD 38,878,000, representing an increase of 5.4% compared to HKD 36,876,000 for the same period in 2018[8] - The cost of goods sold for the same period was HKD 9,425,000, up from HKD 9,076,000, indicating a rise of 3.9%[8] - The pre-tax profit for the quarter was HKD 3,096,000, which is a 6.2% increase from HKD 2,915,000 in the previous year[8] - The net profit attributable to owners of the company was HKD 2,145,000, compared to HKD 2,074,000, reflecting a growth of 3.4%[8] - Basic and diluted earnings per share for the quarter were HKD 0.25, up from HKD 0.24 in the same quarter of the previous year[8] - Total comprehensive income for the period was HKD 2,525,000, an increase from HKD 2,367,000, marking a growth of 6.7%[8] Expenses - Employee costs for the quarter were HKD 10,731,000, slightly up from HKD 10,602,000, indicating a rise of 1.2%[8] - Depreciation expenses increased significantly to HKD 9,201,000 from HKD 1,993,000, showing a rise of 361.5%[8] - The company reported a financing cost of HKD 589,000, which is a substantial increase from HKD 8,000 in the previous year[8] - Other income for the three months ended June 30, 2019, totaled HKD 204,000, a decrease from HKD 796,000 in the same period of 2018, reflecting a decline of approximately 74.4%[29] - Property rental and related expenses decreased from approximately HKD 7.1 million to about HKD 0.7 million, a decline of approximately 90.2%[44] - Other operating expenses fell from approximately HKD 5.9 million to about HKD 5.3 million, a decrease of approximately 10.2%[45] Revenue Breakdown - The revenue breakdown included HKD 37,015,000 from beverages, HKD 369,000 from snacks, HKD 1,463,000 from electronic dart machines, and HKD 31,000 from other sources[23] Business Operations - The company operates a single business segment, which is the operation of chain bars in Hong Kong, with no geographical revenue breakdown presented[27] - The company confirmed that no individual customer accounted for more than 10% of total revenue during the reporting period, indicating a diversified customer base[28] Corporate Governance - The company has adopted and complied with all applicable corporate governance code provisions as per GEM Listing Rules Appendix 15, except for the separation of the roles of Chairman and CEO[61] - The company is in the process of identifying suitable candidates for the role of CEO, as the current CEO also serves as Chairman[61] - The company has established a code of conduct for directors' securities trading, ensuring compliance with GEM listing rules[67] Shareholder Information - As of June 30, 2019, Moment to Moment Company Limited holds 431,543,700 shares, representing approximately 50.18% of the company's issued share capital[58] - The company has no knowledge of any other individuals or entities holding 5% or more of the voting shares as of June 30, 2019[59] - The company’s major shareholders include Harneys Trustees Limited, which acts as a trustee for the Pacific Bar Trust[58] - The company has a total of 14,655,038 shares held by Chen Wei, representing approximately 1.70% of the issued share capital[58] Future Plans - The company plans to open four new stores by March 31, 2020, following the opening of two new stores in the third quarter of 2019[37] Dividend Policy - The board has decided not to declare an interim dividend for the period ending June 30, 2019[50] - The board's dividend policy aims to allow shareholders to share in profits while retaining sufficient liquidity for future growth opportunities[63] - The board will consider various factors, including financial performance and capital requirements, before recommending any dividend payments[65] - The board will continue to review the dividend policy and does not guarantee any specific amount of dividends in any given period[66] Acquisitions - The company has entered into a formal sale agreement to acquire Jun Tin Development Limited for HKD 50,000,000, with the main business being property investment[53] - The company has entered into a formal sale agreement to acquire 100% of the issued share capital of Jun Tian Development Limited for HKD 50 million, focusing on property investment[74] Compliance and Audit - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated financial statements for the three months ended June 30, 2019, ensuring compliance with applicable accounting standards[76] - The company has not repurchased any listed securities during the reporting period[69] - No stock options have been granted or exercised since the adoption of the stock option plan on December 17, 2016[70] Accounting Standards - The company has adopted new accounting standards related to leases, impacting the recognition of lease liabilities and right-of-use assets[15][21] - Interest on lease liabilities for the three months ended June 30, 2019, was HKD 583,000, reflecting the impact of the new lease accounting standard[30] - The company has not made any adjustments to lease liabilities during the reporting period[19] - The company’s operational performance is reviewed by senior management based on financial data prepared in accordance with the same accounting policies[26]
太平洋酒吧(08432) - 2020 Q1 - 季度财报