Financial Performance - Revenue for the nine months ended September 30, 2021, was HKD 101,508,000, an increase of 43% compared to HKD 71,060,000 for the same period in 2020[3] - Gross profit for the nine months ended September 30, 2021, was HKD 40,252,000, up 79% from HKD 22,440,000 in the previous year[3] - The net profit for the nine months ended September 30, 2021, was HKD 24,296,000, compared to HKD 3,758,000 for the same period in 2020, representing a significant increase[3] - The company reported a basic earnings per share of HKD 3.04 for the nine months ended September 30, 2021, compared to HKD 0.67 in the previous year[7] - The total comprehensive income for the nine months ended September 30, 2021, was HKD 27,917,000, compared to HKD 4,924,000 for the same period in 2020[7] - The company recorded other income of HKD 7,726,000 for the nine months ended September 30, 2021, compared to HKD 3,532,000 in the previous year[3] - Administrative expenses for the nine months ended September 30, 2021, were HKD 16,273,000, an increase from HKD 13,682,000 in the same period of 2020[3] - The company reported a financing cost of HKD 925,000 for the nine months ended September 30, 2021, down from HKD 1,510,000 in the previous year[3] Revenue Segmentation - For the nine months ended September 30, 2021, total revenue from external customers was 101,508 thousand MYR, an increase from 71,060 thousand MYR for the same period in 2020, representing a growth of approximately 42.5%[23][26] - The production segment generated revenue of 83,519 thousand MYR, while the retail segment contributed 1,807 thousand MYR, indicating a significant reliance on the production segment for overall revenue[23] - Operating profit before tax for the group was 25,343 thousand MYR, with the production segment contributing 10,003 thousand MYR and the retail segment contributing 9,978 thousand MYR[23] - The group’s revenue from the Asia-Pacific region for the nine months ended September 30, 2021, was 80,094 thousand MYR, accounting for the majority of total revenue[31] - The group has two reportable segments: production and retail, with the production segment being the primary revenue driver[20][23] Profitability and Margins - The group reported a net profit of 24,296 thousand MYR for the nine months ended September 30, 2021, compared to a net profit of 3,758 thousand MYR for the same period in 2020, marking a substantial increase[23][26] - The group’s financing costs totaled 925 thousand MYR, with the production segment incurring 412 thousand MYR and the retail segment 507 thousand MYR[23] - Gross profit was approximately 40.3 million MYR, an increase of 17.9 million MYR or 79.9% compared to the same period in 2020, with gross margin improving from 31.5% to 39.7%[68] - The group recorded a profit of approximately 24.3 million MYR, an increase of about 20.5 million MYR compared to the same period in 2020, primarily due to improved gross profit and one-time gains from lease terminations[72] Market and Operational Challenges - The company plans to continue expanding its market presence and investing in new product development to drive future growth[3] - The company faces significant challenges due to the resurgence of COVID-19 in Malaysia and Vietnam, leading to lockdowns and operational disruptions from June to October 2021[75] - The company opened a retail store in Singapore, but retail revenue decreased to approximately 1.8 million MYR, a decline of 0.3 million MYR or 14.3% compared to the same period in 2020, due to the impact of COVID-19[62] Shareholder and Governance - The company did not declare any dividends for the period, consistent with the previous year[50][51] - There were no significant arrangements or contracts with the controlling shareholder during the reporting period, indicating a lack of conflicts of interest[83] - The controlling shareholder has committed to non-competition agreements, ensuring no competitive activities in Malaysia and Vietnam during the specified period[86] - The audit committee, consisting of three independent non-executive directors, has reviewed the group's unaudited financial performance for the period[118] - The company has confirmed compliance with applicable accounting standards and GEM listing rules in its financial reporting[118] Acquisitions and Investments - The company completed the sale of Furnitech Components (Vietnam) Co., Ltd. in June 2021, which was involved in the sale of furniture metal parts[57] - The company entered into an agreement to acquire 37.25% of the issued share capital of Energy Solution Global Limited for a total consideration of approximately 5.14 million MYR[74] - The company has expanded its manufacturing and sales of PVC-related products through acquisitions in 2019[57] - The company reported a total of 7,932,000 MYR in revenue from PVC-related products for the year[36] Foreign Exchange and Other Financials - The company experienced a foreign exchange loss of 379,000 MYR for the three months ended September 30, 2021[40] - Basic earnings per share for the nine months ended September 30, 2021, was 30.36 MYR, compared to 6.70 MYR for the same period in 2020[54] - The company has a total of 560,000,000 shares issued as of September 30, 2021[115] - PRG Holdings holds 54.19% of the company's shares, totaling 303,468,000 shares[111] - The second largest shareholder, Zhan Jiawen, owns 55,024,000 shares, representing 9.82% of the total[111]
飞霓控股(08480) - 2021 Q3 - 季度财报