Financial Performance - For the nine months ended December 31, 2018, the group recorded revenue of approximately HKD 249.4 million, an increase of about HKD 75.6 million or 43.5% compared to the same period in 2017[5]. - The profit attributable to the owners of the company for the nine months ended December 31, 2018, was approximately HKD 20.6 million, an increase of about HKD 18.5 million compared to HKD 2.1 million in the same period of 2017, representing a growth of 878.6%[6]. - The group reported a gross profit of HKD 33.8 million for the nine months ended December 31, 2018, compared to HKD 22.5 million for the same period in 2017, reflecting a significant increase in gross margin[10]. - The total comprehensive income for the nine months ended December 31, 2018, was HKD 20.6 million, a significant increase from HKD 2.1 million in the same period of 2017[10]. - For the nine months ended December 31, 2018, the company recorded a net profit of approximately HKD 20.6 million, compared to HKD 2.1 million for the same period in 2017, representing a significant increase attributed to higher revenue and gross profit[64]. - Revenue for the nine months ended December 31, 2018, increased by approximately 43.5% to about HKD 249.4 million, up from approximately HKD 173.8 million for the same period in 2017, driven by new product launches and strong demand for existing products[68]. Revenue Breakdown - Revenue from shrimp products reached HKD 75,128 thousand for the nine months ended December 31, marking a substantial increase compared to HKD 41,611 thousand in the same period last year, representing an increase of about 80.8%[56]. - The group’s revenue from frozen seafood wholesalers and food service providers amounted to HKD 235,152 thousand for the nine months ended December 31, compared to HKD 163,104 thousand in the previous year, indicating a growth of approximately 44.1%[56]. - The group’s revenue from fish products totaled HKD 34,248 thousand for the nine months ended December 31, up from HKD 19,916 thousand in the same period last year, reflecting an increase of about 72%[56]. - The group’s revenue from octopus and squid products was HKD 17,077 thousand for the nine months ended December 31, compared to HKD 10,779 thousand in the previous year, showing a growth of approximately 58.3%[56]. - The group’s revenue from crab and roe products reached HKD 19,916 thousand for the nine months ended December 31, compared to HKD 7,689 thousand in the previous year, representing an increase of about 159.5%[56]. Expenses and Costs - The cost of goods sold for the nine months ended December 31, 2018, was approximately HKD 215.6 million, an increase of about 42.5% from approximately HKD 151.3 million for the same period in 2017, consistent with revenue growth[69]. - Selling and distribution costs for the nine months ended December 31, 2018, were approximately HKD 4.1 million, an increase of about 24.2% from approximately HKD 3.3 million for the same period in 2017, primarily due to increased external warehouse usage and logistics personnel[72]. - Administrative expenses increased from approximately HKD 3.7 million for the nine months ended December 31, 2017, to approximately HKD 5.2 million for the nine months ended December 31, 2018, primarily due to increased legal and professional fees related to compliance requirements for listing[73]. - Financial costs decreased from approximately HKD 458,000 for the nine months ended December 31, 2017, to approximately HKD 412,000 for the nine months ended December 31, 2018[74]. - Tax expenses rose from approximately HKD 2.6 million for the nine months ended December 31, 2017, to approximately HKD 4.3 million for the nine months ended December 31, 2018, an increase of approximately HKD 1.7 million or 63.2%[75]. Dividends and Shareholder Information - The board of directors did not recommend the payment of any dividend for the nine months ended December 31, 2018[7]. - The company declared a final dividend of HKD 0.022 per share for the year ending March 31, 2018, totaling HKD 6.16 million, compared to no dividend for the same period in 2017[62]. - The company did not declare any dividends for the nine months ended December 31, 2018, consistent with the previous period[84]. - The company’s major shareholders include individuals holding approximately 75% of the shares, indicating a concentrated ownership structure[88]. - The beneficial owner of the shares is Sai Xin Holdings Limited, holding 210,000,000 shares, representing 75% ownership[92]. Compliance and Governance - The company has complied with the corporate governance code since its listing on October 19, 2017[104]. - The audit committee was established on September 21, 2017, and consists of three independent non-executive directors, with responsibilities including reviewing financial statements and overseeing internal control procedures[105]. - The audit committee reviewed the unaudited condensed consolidated financial statements for the nine months ended December 31, 2018, and found them compliant with applicable accounting standards and regulations[107]. - The company confirmed that all directors have adhered to the prescribed trading code since the listing date[99]. Accounting Standards - The financial statements are presented in Hong Kong dollars (HKD), which is the functional currency of the company[23]. - The quarterly financial data is prepared in accordance with the Hong Kong Financial Reporting Standards and the GEM Listing Rules[24]. - The company has adopted the new Hong Kong Financial Reporting Standards, including HKFRS 15, which introduces a five-step model for revenue recognition[30]. - The company has implemented HKFRS 9, which introduces new classification and measurement requirements for financial assets and liabilities[37]. - The application of HKFRS 15 and HKFRS 9 did not have a significant impact on the financial results for the quarter[34][39]. - The accounting policies and methods used in the preparation of the financial statements are consistent with those used in the previous financial year[25].
大洋环球控股(08476) - 2019 Q3 - 季度财报