Financial Performance - Revenue for the three months ended June 30, 2020, was approximately HKD 46.5 million, a decrease of about HKD 13.3 million or 22.2% compared to HKD 59.8 million for the same period in 2019[8] - Net profit for the same period was approximately HKD 4.7 million, an increase of about HKD 4.1 million compared to HKD 0.6 million for the three months ended June 30, 2019[8] - Gross profit for the three months ended June 30, 2020, was HKD 30.3 million, down from HKD 40.5 million in the previous year, reflecting a decrease of approximately 25.3%[9] - Total comprehensive income for the period was HKD 4.68 million, compared to HKD 0.56 million for the same period in 2019[9] - The pre-tax profit for the three months ended June 30, 2020, was HKD 4.7 million, compared to HKD 0.6 million for the same period in 2019[21] - Profit for the three months ended June 30, 2020, was approximately HKD 4.7 million, an increase of about HKD 4.1 million compared to HKD 0.6 million for the same period in 2019[40] Earnings and Dividends - Basic and diluted earnings per share for the three months ended June 30, 2020, were HKD 0.5 cents, compared to HKD 0.06 cents for the same period in 2019[9] - The board of directors decided not to declare any dividends for the period[7] - The company declared no dividends for the three months ended June 30, 2020[48] Costs and Expenses - The company’s employee costs decreased to HKD 9.46 million from HKD 18.91 million in the previous year, reflecting a reduction of approximately 50%[9] - The cost of goods sold for the three months ended June 30, 2020, was HKD 16.2 million, down from HKD 19.4 million in 2019[18] - Employee benefits expenses decreased to HKD 9.5 million for the three months ended June 30, 2020, from HKD 18.9 million in 2019[18] - Cost of goods sold for the three months ended June 30, 2020, was approximately HKD 16.2 million, a decrease of about HKD 3.2 million or 16.5% compared to HKD 19.4 million for the same period in 2019[29] - Rental and related expenses increased by approximately HKD 1.3 million or 39.4% to HKD 4.6 million for the three months ended June 30, 2020, from HKD 3.3 million in the same period of 2019[35] - Depreciation of property, plant, and equipment decreased from approximately HKD 10.5 million to HKD 8.3 million, a reduction of about HKD 2.2 million[34] Other Income and Gains - The company recorded other income and gains of HKD 2.95 million for the three months ended June 30, 2020, compared to HKD 0.24 million in the same period of 2019[9] - Other income and gains increased from approximately HKD 0.2 million for the three months ended June 30, 2019, to approximately HKD 3.0 million for the same period in 2020, mainly due to government subsidies and rent concessions[31] Equity and Shareholding - The company’s total equity as of June 30, 2020, was HKD 48.51 million, an increase from HKD 43.83 million as of April 1, 2020[10] - As of June 30, 2020, the company and its related entities hold a total of 750,000,000 shares, representing 75% of the issued shares[50] - Mr. Kwan and Ms. Kwan each have a beneficial interest in 750,000,000 shares, equating to 75% ownership[50] - Future More, a related entity, holds 750,000,000 shares, which is also 75% of the total issued shares[52] - The shareholding percentages are based on a total of 1,000,000,000 issued shares as of June 30, 2020[51] Corporate Governance - The company has adopted corporate governance practices and has complied with applicable code provisions, except for one specific provision[60] - The board of directors confirmed compliance with the trading standards and code of conduct for directors' securities transactions during the reporting period[59] - The chairman and CEO roles are held by the same individual, which the board believes is in the best interest of the company[61] - There are no known conflicts of interest or competitive businesses involving the directors or major shareholders as of June 30, 2020[58] Operational Updates - The company is primarily engaged in providing catering services in Hong Kong[13] - The company has signed a new lease agreement for a property in Kowloon Bay to open a new restaurant serving Taiwanese cuisine, expected to provide additional revenue[24] - The company will operate a total of 12 restaurants in Hong Kong after the opening of the new restaurant, including various brands and cuisines[26] - The company exercised a two-year renewal option for the lease of the "Mr. Steak" restaurant in Kowloon Bay, ensuring stable cash flow[23] - The company closed the "Sky Bar" restaurant in Yuen Long after reviewing its performance and will not renew the lease[26] Taxation - The estimated tax expense for the three months ended June 30, 2020, was HKD 244,000, compared to HKD 111,000 in 2019[20] - The effective tax rate decreased from approximately 14.3% in 2019 to 4.1% in 2020, primarily due to government subsidies received[39] Audit and Compliance - The financial data in the report has not been audited by the company's independent auditor[65] - The audit committee, composed of independent non-executive directors, has reviewed the unaudited consolidated results for the three months ended June 30, 2020[65] - No significant acquisitions or disposals occurred during the three months ended June 30, 2020[43] - The company did not redeem any of its listed securities or purchase/sell any related securities during the three months ended June 30, 2020[56] - No stock options have been granted under the stock option plan since its adoption, and there are no unexercised options as of June 30, 2020[54] - The company maintains sufficient public float as per GEM listing rules[63]
MS CONCEPT(08447) - 2021 Q1 - 季度财报