Financial Performance - The Group recorded an unaudited revenue of approximately HK$74.2 million for the nine months ended 28 February 2019, representing an increase of approximately 24.4% compared to the corresponding period in 2018[6]. - The Group's unaudited profit for the nine months ended 28 February 2019 was approximately HK$18.3 million, an increase of approximately HK$5.2 million or approximately 39.1% compared to the same period in 2018[6]. - The increase in profit was primarily due to an increase in gross profit from revenue growth, a decrease in bank borrowing interest, and a reduction in imputed interest on settled payables[6]. - The gross profit for the nine months ended 28 February 2019 was approximately HK$37.2 million, reflecting a stable gross profit margin despite increased revenue[6]. - The Group's operating profit for the nine months was approximately HK$22.0 million, compared to HK$8.7 million for the same period in 2018[13]. - Profit before income tax for the three months ended 28 February 2019 was HK$4,773,000, a decrease of 40.4% compared to HK$7,941,000 for the same period in 2018[17]. - Profit for the period attributable to owners of the Company was HK$3,928,000, down 41.5% from HK$6,740,000 in the previous year[17]. - Total comprehensive income for the period was HK$3,953,000, a decline of 39.5% compared to HK$6,533,000 for the same period in 2018[17]. - For the nine months ended 28 February 2019, profit before income tax was HK$22,046,000, an increase of 32.9% from HK$16,595,000 in 2018[17]. - Profit for the nine-month period attributable to owners of the Company was HK$18,266,000, up 33.5% from HK$13,716,000 in the previous year[17]. - Total comprehensive income for the nine months was HK$18,323,000, an increase of 38.8% compared to HK$13,221,000 for the same period in 2018[17]. Revenue Breakdown - Revenue from visual display solution services for the three months ended 28 February 2019 was HK$21,761,000, a decrease of 7.4% compared to HK$23,508,000 for the same period in 2018[102]. - Total revenue for the nine months ended 28 February 2019 was HK$73,950,000, an increase of 24.8% from HK$59,338,000 for the same period in 2018[102]. - Revenue from equipment rental for the nine months ended 28 February 2019 was HK$74,231,000, compared to HK$59,692,000 in the previous year, indicating a growth of 24.4%[102]. - Approximately 80.0% of the Group's total revenue during the nine months ended 28 February 2019 was derived from pop concerts, down from approximately 88.9% in the same period of 2018[122]. - Revenue from pop concerts increased from 283 shows generating approximately HK$53.1 million in the nine months ended 28 February 2018 to 323 shows generating approximately HK$28.3 million in the nine months ended 28 February 2019[178]. - Revenue from other live events surged from 233 shows generating approximately HK$6.3 million in the nine months ended 28 February 2018 to 581 shows generating approximately HK$14.6 million in the nine months ended 28 February 2019[175]. Expenses and Costs - Administrative expenses for the nine months ended 28 February 2019 were approximately HK$15.1 million, an increase from HK$4.4 million in the previous year[13]. - The total cost of services for the nine months was approximately HK$37.1 million, compared to HK$10.8 million in the previous year[13]. - The Group's finance income for the nine months was approximately HK$472,000, while finance costs were approximately HK$429,000[13]. - The Group's gross profit for the nine months ended February 28, 2019, was approximately HK$37.2 million, compared to HK$30.6 million for the same period in 2018, with a gross profit margin of approximately 50.1%[188]. Taxation and Earnings - The Group's estimated assessable profits for the nine months ended 28 February 2019 are subject to a two-tiered profit tax rate, with the first HK$2 million taxed at 8.25% and the remaining at 16.5%[105]. - All PRC subsidiaries are subject to a 25.0% Enterprise Income Tax for the nine months ended 28 February 2019[105]. - The Macau subsidiary is subject to a complementary tax rate of 12.0% on estimated assessable income exceeding MOP600,000 for the nine months ended 28 February 2019[105]. - The effective income tax rate of the Group was approximately 16.9% for the nine months ended February 28, 2019, down from approximately 20.6% for the same period in 2018[189]. Dividends and Retained Earnings - The Board does not recommend the payment of a dividend for the nine months ended 28 February 2019[6]. - The Company reported a retained earnings of HK$60,164,000 as of 28 February 2019, compared to HK$41,898,000 at the end of the same period in 2018[22]. Market Presence and Future Plans - The Company plans to continue expanding its market presence in Hong Kong, Macau, and the PRC, focusing on visual display solution services for concerts and events[27]. - The Group engaged in 323 pop concert shows during the nine months ended 28 February 2019, compared to 283 shows in the same period of 2018[122]. Financial Position and Liquidity - The Group recorded net current assets of approximately HK$55.7 million as of February 28, 2019, compared to approximately HK$30.6 million as of February 28, 2018[189]. - The Group's gearing ratio was approximately 6.7% as of February 28, 2019, down from approximately 11.7% as of February 28, 2018, primarily due to a decrease in bank borrowings[191]. - The maximum limit of the banking facilities available to the Group amounted to HK$9.1 million as of February 28, 2019[191]. - The Group maintained a healthy liquidity position throughout the nine months ended February 28, 2019, with ongoing credit assessments to reduce exposure to credit risk[195]. - As of February 28, 2019, the Group maintained a healthy liquidity position with no material capital commitments or contingent liabilities[198].
耀星科技集团(08446) - 2019 Q3 - 季度财报