Financial Performance - The group's revenue for the three months ended March 31, 2020, was HKD 35,681,000, a decrease of 22.2% compared to HKD 45,924,000 in the same period of 2019[6] - Gross profit for the same period was HKD 6,871,000, down 22.1% from HKD 8,810,000 year-on-year[6] - The group reported a loss of HKD 500,000 for the period, compared to a profit of HKD 603,000 in the previous year, representing a significant decline[6] - The total comprehensive income for the period was a loss of HKD 4,486,000, compared to a gain of HKD 4,975,000 in the same period last year[10] - The basic loss per share was HKD 0.07, compared to a profit of HKD 0.09 per share in the previous year[10] - The company's revenue for the period was approximately HKD 35.7 million, a decrease of about 22.3% compared to HKD 45.9 million for the same period in 2019[43] - The company's gross profit decreased by approximately 22.0% to about HKD 6.9 million, compared to HKD 8.8 million for the same period in 2019, with a gross margin of approximately 19.3%[46] Revenue Breakdown - Revenue for the three months ended March 31, 2020, was HKD 35,681,000, a decrease of 22.3% from HKD 45,924,000 in the same period of 2019[22] - Revenue from key products: Bonding wire revenue was HKD 28,963,000, down 24.0% from HKD 38,320,000 in 2019; Packaging adhesive revenue was HKD 4,891,000, down 6.8% from HKD 5,249,000[22] - Revenue from customers in Mainland China was HKD 35,427,000, a decrease of 22.2% from HKD 45,556,000 in 2019[23] - Revenue from bonding wire products decreased by approximately 24.4% to about HKD 29.0 million, down from HKD 38.3 million in the same period of 2019[43] Other Income and Expenses - Other income and gains increased to HKD 2,259,000 from HKD 781,000, showing a growth of 189.5%[6] - Other income for the three months ended March 31, 2020, was HKD 2,259,000, significantly up from HKD 781,000 in 2019[26] - The company's total employee costs for the period were HKD 6,851,000, down from HKD 7,875,000 in 2019[31] - The group's administrative expenses rose to HKD 5,665,000, up 3.1% from HKD 5,493,000 in the previous year[6] - The financing costs decreased to HKD 290,000 from HKD 410,000, a reduction of 29.3%[6] - Depreciation of property, plant, and equipment was HKD 1,981,000, slightly down from HKD 2,064,000 in 2019[36] - Other income and gains recorded were approximately HKD 2.3 million, an increase from HKD 0.8 million in the same period of 2019, mainly due to a one-time government subsidy of about HKD 2.0 million[47] Future Outlook and Strategy - The company continues to focus on the development and sales of semiconductor packaging materials, with plans for future market expansion and product innovation[15] - The company expects global semiconductor equipment sales to recover in 2020 and reach a historic high of USD 66.8 billion in 2021, driven by the rapidly growing 5G industry[50] - The company successfully trialed a new liquid-forming epoxy for small LEDs, which is expected to make a significant contribution to revenue[51] - Three new adhesive products for LED applications have been launched, which are expected to drive future growth for the company[52] - The company is implementing cost control measures to enhance economic efficiency and maintain long-term business growth amid macroeconomic uncertainties[55] Shareholder Information - The company has issued share capital of HKD 7,055,000, divided into 705,500,000 shares with a par value of HKD 0.01 per share as of March 31, 2020[62] - Chows Investment Group Limited holds 100% equity in Chows Technology Investment Holdings Limited, which in turn holds 50.60% equity in the company[65] - Major shareholders include Chows Technology Investment Holdings Limited with 357,000,000 shares, representing 50.60% of the issued share capital[69] - Chow Fung Wai Lan Rita holds 357,510,000 shares, accounting for 50.67% of the issued share capital, as a spouse interest[69] Corporate Governance - The company has established an audit committee consisting of three independent non-executive directors to review and supervise the financial reporting process and internal control procedures[89] - The company has complied with the corporate governance code as per GEM listing rules during the reporting period[83] - The compliance advisor, Tian Tai Financial Services Limited, has no interests in the group as of March 31, 2020[79] Dividends and Investments - The company did not recommend any dividend payment for the period[56] - No significant investments or acquisitions were made during the period[58] - No purchases, sales, or redemptions of the company's listed securities were made by the company or its subsidiaries during the period[86] Stock Options - The company has not granted any stock options under the stock option plan since its adoption on May 8, 2018[77] - The maximum number of shares that can be granted under the stock option plan is capped at 10% of the shares issued at the time of listing, which is 68,000,000 shares, approximately 9.6% of the issued shares as of the report date[76] - No stock options have been exercised, lapsed, or cancelled during the year, and there are no unexercised stock options as of March 31, 2020[77] Business Interests - The company does not have any business interests that compete or may compete with its operations as of the reporting period[78] - The company is currently evaluating the impact of new accounting standards on its performance and financial position[20] - The company is controlled by Mr. Chow and Professor Chow, who hold 40% and 60% of Chows Investment Group Limited, respectively[63]
骏码半导体(08490) - 2020 Q1 - 季度财报