Financial Performance - Revenue for the nine months ended December 31, 2020, was approximately HKD 133.6 million, a decrease of about HKD 51.2 million or 27.7% compared to HKD 184.8 million for the same period in 2019[8] - Net profit for the nine months ended December 31, 2020, was approximately HKD 6.2 million, an increase of about HKD 3.2 million or 106.7% compared to HKD 3.0 million for the same period in 2019[8] - Gross profit for the nine months ended December 31, 2020, was approximately HKD 84.6 million, down from HKD 124.4 million in the same period of 2019, representing a decrease of 32%[9] - Basic and diluted earnings per share for the nine months ended December 31, 2020, were HKD 0.6, compared to HKD 0.3 for the same period in 2019[9] - Total comprehensive income for the nine months ended December 31, 2020, was HKD 6.2 million, compared to HKD 3.0 million for the same period in 2019[9] - The group reported a pre-tax profit of HKD 6,152,000 for the nine months ended December 31, 2020, compared to HKD 2,991,000 for the same period in 2019, representing an increase of 105.5%[24] - The basic earnings per share for the nine months ended December 31, 2020, was HKD 6.15, up from HKD 2.99 in the same period of 2019, reflecting a growth of 105.4%[24] Expenses and Costs - The company reported a decrease in employee costs to HKD 28.9 million for the nine months ended December 31, 2020, from HKD 55.5 million in the same period of 2019[9] - The group incurred employee benefits expenses of HKD 28,910,000 for the nine months ended December 31, 2020, a decrease of 47.9% from HKD 55,457,000 in 2019[22] - The company’s cost of goods sold for the nine months ended December 31, 2020, was approximately HKD 49.0 million, down from HKD 60.4 million in the same period of 2019[9] - The cost of goods sold for the nine months ended December 31, 2020, was HKD 49,011,000, down 18.8% from HKD 60,382,000 in the previous year[22] - The group’s depreciation expense for property, plant, and equipment for the nine months ended December 31, 2020, was HKD 25,919,000, down 20.5% from HKD 32,597,000 in the previous year[22] - Rental and related expenses decreased by approximately HKD 1.7 million or 15.1% to approximately HKD 13.0 million for the nine months ended December 31, 2020, compared to approximately HKD 11.3 million for the same period in 2019[40] - Fuel and utility expenses decreased by approximately HKD 1.2 million or 31.6% to approximately HKD 2.6 million for the nine months ended December 31, 2020, down from approximately HKD 3.8 million for the same period in 2019[41] - Administrative expenses decreased by approximately HKD 1.6 million or 10.4% to approximately HKD 13.8 million for the nine months ended December 31, 2020, compared to approximately HKD 15.4 million for the same period in 2019[43] - Financing costs decreased from approximately HKD 2.8 million to about HKD 2.2 million for the nine months ended December 31, 2020, mainly due to a net reduction in lease liabilities interest[44] Dividends and Share Issuance - The board of directors decided not to declare any dividends for the nine months ended December 31, 2020[7] - The group did not declare any dividends for the nine months ended December 31, 2020[26] - The net proceeds from the issuance of 250,000,000 shares at HKD 0.27 per share amounted to approximately HKD 39.6 million, with planned uses including restaurant network expansion and facility upgrades[55] - As of December 31, 2020, approximately HKD 3.9 million and HKD 2.8 million of the net proceeds were used for opening new restaurant locations in Tung Chung and other areas[57] - The remaining unutilized net proceeds are expected to be fully utilized by March 31, 2023, for various business objectives[56] Assets and Liabilities - The company’s total assets as of December 31, 2020, were approximately HKD 49.978 million, an increase from HKD 43.826 million as of April 1, 2020[10] - The group recorded a tax credit of approximately HKD 1.0 million for the nine months ended December 31, 2020, primarily due to the recognition of deferred tax assets from operating losses[45] - As of December 31, 2020, the group had no significant capital commitments or contingent liabilities[51][52] Corporate Governance - The board believes that Mr. Kwan's dual role as Chairman and CEO is in the best interest of the company due to his long-term management experience since 2000[74] - The company has maintained the public float required by GEM listing rules as of the report date[75] - The compliance advisor, Tong Ren Finance Limited, has no interests in the company's equity as of December 31, 2020[76] - The board has adopted and complied with all applicable corporate governance code provisions, except for the separation of roles between Chairman and CEO[72] - The audit committee has been established in accordance with GEM listing rules and corporate governance code, consisting of independent non-executive directors[78] - The committee reviewed the unaudited consolidated results for the nine months ended December 31, 2020, and found them to be prepared in accordance with applicable accounting standards[78] - Sufficient disclosures have been made in the unaudited consolidated financial statements[78] Market Conditions and Future Plans - The group will continue to assess its business objectives and may revise its business plans in response to changing market conditions[58] - The group has no significant foreign exchange risk and does not currently execute any foreign currency hedging policies[50] - There are no known conflicts of interest or competition with the company's business as of December 31, 2020[71] - The company has not disclosed any interests or short positions in shares or related securities by directors or key executives as of December 31, 2020[67] - No stock options have been granted under the stock option plan since its adoption on March 23, 2018, and there are no unexercised stock options as of December 31, 2020[69] - The company did not repurchase any of its listed securities during the reporting period[70]
MS CONCEPT(08447) - 2021 Q3 - 季度财报