Financial Performance - Revenue for the three months ended March 31, 2020, was HKD 25,464,000, an increase of 7.8% compared to HKD 23,627,000 for the same period in 2019[5] - Gross profit for the same period was HKD 7,725,000, representing a significant increase of 55.7% from HKD 4,956,000 in 2019[5] - The net profit for the period was HKD 2,693,000, compared to a loss of HKD 1,240,000 in the previous year, indicating a turnaround in performance[5] - Other comprehensive income for the period was HKD 2,043,000, compared to a loss of HKD 1,143,000 in the same period last year[10] - Basic earnings per share for the period was HKD 0.48, compared to a loss per share of HKD 0.25 in 2019[10] - The company reported a net cash inflow from operating activities of HKD 3,064,000, a significant improvement from a cash outflow of HKD 910,000 in the previous year[5] - The total comprehensive income for the period was HKD 4,736,000, compared to a total comprehensive loss of HKD 2,383,000 in 2019[10] - The company reported a net profit of 4,997 thousand MYR for the quarter, compared to a loss of 1,625 thousand MYR in the previous year, showing a significant turnaround[27] - The group recorded a gross profit of approximately MYR 7.7 million, an increase of MYR 2.7 million or 54.0% compared to MYR 5.0 million in the same period of 2019, mainly due to improved gross margins from certain production subsidiaries and higher margins contributed by the retail sector[67] - The group reported a profit of MYR 2.7 million for the period, an increase of approximately MYR 3.9 million compared to a loss of MYR 1.2 million in 2019, mainly due to the sale of a subsidiary and improved performance from certain production subsidiaries[72] Revenue Breakdown - For the three months ended March 31, 2020, total revenue from external customers was 25,464 thousand MYR, compared to 23,627 thousand MYR for the same period in 2019, representing an increase of approximately 7.8%[31] - The production segment generated revenue of 24,215 thousand MYR, while the retail segment contributed 1,182 thousand MYR, indicating a strong performance in the production sector[27] - The Asia-Pacific region accounted for the largest share of revenue at 19,521 thousand MYR, up from 16,905 thousand MYR in 2019, reflecting a growth of approximately 9.5%[31] - The company recognized revenue of 3,455 thousand MYR from a single external customer in the elastic textile segment, contributing over 10% to total revenue[32] - Revenue from the production segment was about 24.2 million MYR, an increase of approximately 0.6 million MYR or 2.5% year-on-year[54] - The retail segment generated revenue of approximately 1.2 million MYR during the period, compared to zero in the same period last year[61] - Revenue from elastic textiles decreased by 39.2% to approximately 7.3 million MYR due to the exclusion of PEWAV(VN) from the financial statements[58] - Revenue from other products increased by 153.6% to approximately 7.1 million MYR, primarily due to the acquisition completed in June 2019[60] Expenses and Costs - Financing costs increased to HKD 523,000 from HKD 247,000 in the previous year, reflecting higher borrowing costs[5] - The total financing costs for the quarter amounted to 523 thousand MYR, compared to 172 thousand MYR in the previous year, indicating an increase in financing expenses[39] - The sales cost for the period was 17.7 million MYR, a decrease of approximately 1.0 million MYR or 5.3% compared to 18.7 million MYR in the previous year[66] - Administrative expenses increased to MYR 5.2 million, up by MYR 0.4 million or 8.3% from MYR 4.8 million in 2019, primarily due to administrative expenses incurred by a subsidiary[71] - The retail sector incurred a loss of MYR 1.6 million during the period, compared to a loss of MYR 0.4 million in 2019, significantly impacted by the COVID-19 pandemic[72] Strategic Focus and Market Conditions - The company continues to focus on expanding its market presence and enhancing product offerings to drive future growth[16] - The production sector is facing a challenging environment due to COVID-19, with supply chain disruptions and low demand visibility impacting operations[78] - The group is reviewing its business strategies and cost structures to ensure long-term sustainability amid the economic challenges posed by the pandemic[78] - The retail sector is exploring different sales channels, including digital retail and social media, to adapt to the current unfavorable climate[79] Shareholder and Governance Information - As of March 31, 2020, PRG Holdings holds a significant 54.19% stake in the company with 303,468,000 shares[105] - The major shareholder, Teng Jiahao, has a pledged interest in 259,880,000 shares, representing 46.41% of the company's equity[105] - The company has not engaged in any significant arrangements, transactions, or contracts with its controlling shareholders during the reporting period[87] - The compliance advisor agreement with Shenwan Hongyuan Financing (Hong Kong) Limited was terminated effective January 5, 2020, and a new compliance advisor was appointed[88] - The company has confirmed that there are no significant interests or holdings in any securities that require disclosure under the GEM Listing Rules[96] - The audit committee has reviewed the unaudited consolidated performance for the period and confirmed compliance with applicable accounting standards and GEM listing rules[119] - The company has established an audit committee to assist the board in monitoring financial reporting and internal controls[116] - The chairman of the company is Datuk Lim Heen Peok, with a team of executive and independent directors supporting governance[119] - The company is committed to maintaining transparency and has made its reports available on the GEM website for public access[119]
飞霓控股(08480) - 2020 Q1 - 季度财报