Financial Performance - Revenue for the three months ended June 30, 2019, was approximately HKD 59.8 million, a decrease of about HKD 6.8 million or 10.2% compared to HKD 66.6 million for the same period in 2018[10] - Net profit for the same period was approximately HKD 0.6 million, a decrease of about HKD 1.3 million or 68.4% compared to a net profit of HKD 1.9 million after excluding non-recurring IPO-related expenses in 2018[10] - Gross profit for the three months ended June 30, 2019, was HKD 40.5 million, down from HKD 44.6 million in the previous year[11] - The company recorded a pre-tax profit of HKD 0.7 million, compared to a loss of HKD 5.2 million in the same period last year[11] - Basic and diluted earnings per share for the period were HKD 0.06, compared to a loss of HKD 0.56 per share in the previous year[11] - The company reported a total revenue of HKD 59,835,000 for the three months ended June 30, 2019, compared to HKD 66,627,000 in the same period of 2018, marking a decline of 10.3%[22] - The profit for the same period was approximately HKD 0.6 million, down about 68.4% from HKD 1.9 million after excluding non-recurring IPO-related expenses in 2018[27] - The overall gross margin increased to approximately 67.7% for the three months ended June 30, 2019, compared to 67.0% in the same period of 2018[32] Costs and Expenses - The cost of goods sold for the same period was HKD 19,363,000, down from HKD 22,071,000 in 2018, reflecting a decrease of 12.3%[23] - Employee costs for the period were HKD 18.9 million, slightly down from HKD 19.4 million in the same period last year[11] - Employee benefits expenses, including salaries and other allowances, totaled HKD 18,906,000 for the three months ended June 30, 2019, slightly down from HKD 19,401,000 in the same period of 2018[23] - Administrative expenses decreased by approximately HKD 1.4 million or 21.5% to about HKD 5.1 million for the three months ended June 30, 2019, primarily due to a reduction in professional expenses[40] - Financing costs increased by approximately HKD 0.7 million to about HKD 0.9 million for the three months ended June 30, 2019, mainly due to the adoption of HKFRS 16[41] - The company incurred financing costs of HKD 0.9 million, up from HKD 0.2 million in the previous year[11] - Rental and related expenses decreased by approximately 76.3% to HKD 3.3 million from HKD 13.9 million in the previous year[37] - The company recognized a tax expense of HKD 111,000 for the three months ended June 30, 2019, compared to HKD 181,000 in 2018, indicating a decrease of 38.7%[24] Assets and Equity - Total equity as of June 30, 2019, was HKD 62.3 million, an increase from HKD 61.7 million at the beginning of the period[12] - The adoption of HKFRS 16 resulted in the recognition of right-of-use assets and corresponding liabilities of approximately HKD 62,900,000 and HKD 61,100,000, respectively, for leases previously classified as operating leases[19] - The depreciation expense for property, plant, and equipment increased to HKD 10,496,000 in 2019 from HKD 1,439,000 in 2018, reflecting a significant rise due to the new accounting standard[23] - As of June 30, 2019, the group had pledged bank deposits of approximately HKD 2.0 million[44] Corporate Actions and Plans - The board of directors decided not to declare any dividends for the period[9] - The company plans to open a new restaurant under the "Hana" brand in Tung Chung in August 2019, aiming to expand its restaurant network in Hong Kong[27] - The company aims to explore market expansion opportunities and enhance product offerings in the upcoming quarters[10] - The company currently operates 11 restaurants in Hong Kong, offering a variety of cuisines[28] Governance and Compliance - The board of directors believes that the dual role of the chairman and CEO held by Mr. Kwan is in the best interest of the company due to his long-term management experience since 2000[62] - The audit committee has reviewed the unaudited consolidated results for the three months ending June 30, 2019, and believes that the financial statements are prepared in accordance with applicable accounting standards[67] - The company maintains the public float required by GEM listing rules as of the report date[63] Other Information - There were no significant investments, acquisitions, or disposals of subsidiaries and associates during the three months ended June 30, 2019[45] - The group had no significant foreign exchange risks and did not execute any foreign currency hedging policies as of June 30, 2019[46] - There were no significant contingent liabilities as of June 30, 2019[48] - The company has not granted any stock options under the stock option plan since its adoption, resulting in no unexercised options as of June 30, 2019[57] - There were no arrangements made for directors to profit from acquiring shares or debt securities of the company or any other entity during the three months ending June 30, 2019[58] - The company did not redeem any of its listed securities nor did it purchase or sell any related securities during the reporting period[59] - As of June 30, 2019, the company had a total of 1,000,000,000 shares issued, with major shareholders holding 75% of the shares[54] - As of June 30, 2019, Future More is owned by five individuals with a total of 75% of issued shares, equating to 750,000,000 shares out of 1,000,000,000 shares[56]
MS CONCEPT(08447) - 2020 Q1 - 季度财报