Financial Performance - The group reported revenue of HKD 54,985,000 for the three months ended March 31, 2021, compared to HKD 35,681,000 for the same period in 2020, representing a year-over-year increase of 54%[5] - Gross profit for the first quarter of 2021 was HKD 12,035,000, up from HKD 6,871,000 in the same quarter of 2020, indicating a gross margin improvement[5] - The net profit for the period was HKD 1,705,000, compared to a loss of HKD 500,000 in the first quarter of 2020, marking a significant turnaround[5] - Basic earnings per share for the first quarter of 2021 were HKD 0.24, compared to a loss per share of HKD 0.07 in the same period last year[8] - Revenue for the three months ended March 31, 2021, was HKD 54,985,000, representing a 54.1% increase from HKD 35,681,000 in the same period of 2020[23] - Gross profit for the same period increased by 75.2%, driven by strong demand in the semiconductor and LED industries[49] - The group recorded a profit attributable to owners of approximately HKD 1.7 million, compared to a loss of HKD 0.5 million in the same period last year[58] Revenue Sources - Key product revenue included HKD 40,419,000 from bonding wires, up from HKD 28,963,000, and HKD 12,287,000 from packaging adhesives, up from HKD 4,891,000[23] - Revenue from customers in mainland China was HKD 54,395,000, a significant increase from HKD 35,427,000 in the previous year[24] - Revenue from bonding wire products increased by 39.6% to approximately HKD 40.4 million, while revenue from packaging adhesive products surged by 151.2% to approximately HKD 12.3 million[53] Expenses and Costs - The group incurred administrative expenses of HKD 7,026,000, an increase from HKD 5,665,000 in the prior year, reflecting higher operational costs[5] - Total employee costs amounted to HKD 7,984,000, an increase from HKD 7,159,000 in the previous year[35] - The company experienced a loss of HKD 22,000 from the sale of property and equipment during the period[27] Credit Management - The group recognized a credit for expected credit loss of HKD 312,000, compared to a charge of HKD 2,611,000 in the same period last year, showing improved credit management[5] Corporate Governance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards and have not been audited, but were reviewed by the audit committee[19] - The board of directors consists of experienced individuals, including three independent non-executive directors, ensuring a balance of power and authority[91] - The company has complied with the corporate governance code as stipulated in the GEM Listing Rules during the reporting period[91] - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and internal control processes[96] - The audit committee reviewed the unaudited condensed consolidated results for the period and confirmed compliance with applicable accounting standards and GEM listing rules[96] - The company regularly reviews its corporate governance practices to ensure compliance with the code[92] Future Outlook and Strategy - The global semiconductor equipment sales are expected to recover and reach a new record of USD 66.8 billion in 2021, which may increase the demand for semiconductor packaging adhesives[59] - The group plans to launch three new products for LED applications, which are non-conductive epoxy adhesive, non-conductive silicone adhesive, and conductive silver adhesive, targeting the semiconductor and 5G industries[59] - The group aims to enhance its R&D capabilities to develop advanced products for emerging markets such as 5G networks, automotive electrification, industrial automation, IoT, and AI[62] - The group will focus on expanding its customer base and business network to achieve sustainable business growth[62] Shareholder Information - Chows Investment Group Limited holds 100% equity in Junma Technology Investment Holdings Limited, which in turn holds 50.60% equity in the company[75] - As of March 31, 2021, 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 each[81] - Major shareholders include Chows Investment Group Limited with 357,000,000 shares (50.60%) and Ma Yamu with 152,490,000 shares (21.61%) as of March 31, 2021[79] - The company has not granted any stock options under its stock option plan since its adoption on May 8, 2018[87] - 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 amounts to 68,000,000 shares[86] - No stock options have been exercised or cancelled during the reporting period, and there are no unexercised stock options as of March 31, 2021[87] Compliance and Transactions - No dividends were recommended for the period, consistent with the previous year[63] - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the period[64] - No purchases, sales, or redemptions of the company's listed securities were made by the company or its subsidiaries during the period[94] - The company has adopted a code of conduct for directors regarding securities transactions, in compliance with GEM listing rules[93] - The compliance advisor, Tian Tai Financial Services Limited, has no interests in the group as of March 31, 2021[89] - The company does not have any business interests that compete with its operations, nor are there any known conflicts of interest[88]
骏码半导体(08490) - 2021 Q1 - 季度财报