Revenue Performance - Revenue for the three months ended December 31, 2020, was HKD 19,362,000, a decrease of 55.7% compared to HKD 43,724,000 for the same period in 2019[7] - Total revenue for the nine months ended December 31, 2020, was HKD 57,713,000, down 53.9% from HKD 125,100,000 in the previous year[7] - The group reported external customer revenue of HKD 57,454,000 from bar operations and HKD 259,000 from property investment for the nine months ended December 31, 2020, totaling HKD 57,713,000[21] - Revenue decreased by approximately 53.9% from HKD 125.1 million in the previous period to HKD 57.7 million due to the ongoing pandemic and mandatory closures[41] Profit and Loss - The company reported a loss of HKD 4,262,000 for the nine months ended December 31, 2020, compared to a profit of HKD 12,389,000 in the same period of 2019[7] - Basic and diluted loss per share for the nine months ended December 31, 2020, was HKD 0.51, compared to earnings of HKD 1.00 in the previous year[7] - The group incurred a loss before tax of HKD 4,262,000 for the nine-month period, with a segment loss of HKD 3,112,000 from bar operations and a profit of HKD 133,000 from property investment[21] - The group incurred a loss attributable to owners of HKD 4,382,000 for the nine months ended December 31, 2020, compared to a profit of HKD 8,575,000 in the same period of 2019[36] Other Income and Government Support - Other income increased significantly to HKD 11,552,000 for the three months ended December 31, 2020, compared to HKD 851,000 in the same period of 2019[7] - The group recognized COVID-19 related rent concessions amounting to HKD 1,761,000 as other income during the reporting period[19] - The group received COVID-19 related government subsidies amounting to HKD 26,219,000 for the nine months ended December 31, 2020[29] - Other income increased approximately 9.5 times from HKD 2.7 million to HKD 28.3 million, primarily due to government subsidies related to social distancing measures[44] Equity and Dividends - The company’s total equity attributable to owners decreased to HKD 54,428,000 as of December 31, 2020, from HKD 68,279,000 as of April 1, 2020[9] - The company declared a dividend of HKD 4,730,000 during the nine months ended December 31, 2020[9] - The group did not declare any interim dividend for the period, consistent with the previous year[35] - The company has not declared an interim dividend for the period, consistent with the previous year[53] Operational Impact of COVID-19 - The group’s operational performance was affected by mandatory closures of bars in Hong Kong due to the pandemic, with no bar revenue recorded during the closure periods[13] - The group’s management continues to assess the impact of the pandemic on future operations and financial performance[14] - The group applied new accounting standards related to COVID-19 rent concessions, which did not have a significant impact on the reported amounts[18] Employee Costs and Financing - The group’s total employee costs for the nine months ended December 31, 2020, were HKD 27,860,000, down from HKD 32,729,000 in the same period of 2019, reflecting a decrease of 14.9%[33] - Financing costs for the nine months ended December 31, 2020, were HKD 2,572,000, a decrease of 11.1% from HKD 2,892,000 in the same period of 2019[30] - The group’s financing costs totaled HKD 2,572,000, which included interest expenses of HKD 1,918,000 from bar operations[22] Asset and Liability Management - The asset-liability ratio rose significantly to 82.0% from 17.6% in the previous year, indicating increased leverage[63] - Total bank borrowings increased to approximately HKD 50.5 million from HKD 13.4 million, reflecting a reliance on debt financing[66] - Cash and cash equivalents decreased to HKD 3.8 million from HKD 17.1 million, indicating a decline in liquidity[63] Corporate Governance - The company confirms compliance with all applicable corporate governance codes as per GEM Listing Rules, except for the combined role of chairperson and CEO[78] - The board has adopted a code of conduct for securities trading, ensuring all directors have adhered to the standards throughout the reporting period[79] - The financial information in the quarterly report has not been audited or reviewed by independent auditors, but the audit committee has reviewed the unaudited condensed consolidated financial statements[85] Shareholder Information - The company has a total of 431,543,700 shares held by Moment to Moment, representing approximately 50.18% of the issued share capital[72] - The only shareholder of Moment to Moment is Harneys, which acts as the trustee for the Pacific Bar Trust, with key beneficiaries including the chairperson and CEO, Ms. Xie, and her daughter, Ms. Chen[73] - As of December 31, 2020, there were no other disclosures of interests or short positions by directors or key executives in the company or its affiliates[74] - Ms. Chen holds 24,925,038 shares directly, which accounts for approximately 2.90% of the issued share capital[75] Management Changes - The monthly salary of the newly appointed executive director, Ms. Chen Jing, was adjusted from HKD 52,290 to HKD 20,000[86]
太平洋酒吧(08432) - 2021 Q3 - 季度财报