Financial Performance - Revenue for the same period increased by more than 81.0% year-on-year to approximately HK$179.5 million[21]. - For the three months ended June 30, 2019, the Group's total revenue reached HK$179.5 million, representing a year-on-year increase of over 81.0% from HK$99.2 million[23][35]. - The two acquisitions in Hong Kong and China contributed revenues of HK$80.9 million and HK$22.3 million, reflecting year-on-year increases of 177.3% and 1,157.2%, accounting for 45.1% and 12.4% of the Group's total revenue, respectively[22][24]. - The gross profit for the period was HK$14.8 million, with a gross profit margin of 8.3%, down from 14.3% in the previous year[35]. - Profit before income tax was HK$8.0 million, a decrease of 5.7% compared to HK$8.5 million in the same period last year[35]. - Profit attributable to owners of the Company was HK$3.5 million, down 28.5% from HK$4.9 million in the previous year[35]. - The Group's operating profit for the period was HK$8.2 million, slightly down from HK$8.5 million in the previous year[35]. - Profit for the period attributable to owners of the Company decreased to HK$3,513,000 from HK$4,916,000, representing a decline of approximately 28.5% year-over-year[39]. - Total comprehensive income for the period attributable to owners of the Company was HK$3,459,000, down from HK$4,837,000, reflecting a decrease of approximately 28.5%[39]. - The Group's profit for the three months ended June 30, 2019, was stated after deducting the aforementioned costs, indicating a significant operational scale-up[90]. Project and Market Development - For the three months ended June 30, 2019, the company undertook 78 projects, an increase of 16.4% compared to 67 projects in the same period of 2018[21]. - The company aims to strengthen its leading position in the fit-out industry in Hong Kong to ensure continuous and stable business growth[21]. - The Group plans to focus on Grade A offices and the Guangdong-Hong Kong-Macau Greater Bay Area, anticipating new office supply of 4.75 million square meters by 2022[28][31]. - Future expansion will include exploring project opportunities in Hong Kong, China, and potentially Asia, while consolidating the benefits from recent acquisitions[29][32]. - The Group's operations are primarily focused on providing interior fit-out solutions in Hong Kong and the PRC, with a strategic emphasis on expanding its market presence in the latter[80]. - The Group's projects include various categories such as bare shell fit-out, restacking, and reinstatement, focusing on Grade A offices in Hong Kong and the PRC[117]. - The Group's role in fit-out projects includes overall project management and coordination with subcontractors[117]. Cost and Expenses - Subcontracting charges for the three months ended June 30, 2019, were HK$154,206,000, more than double the HK$77,344,000 recorded in 2018[91]. - Total cost of sales and administrative expenses for the same period was HK$171,386,000, compared to HK$90,645,000 in 2018, reflecting an increase of 89%[91]. - Cost of sales increased from HK$85.0 million for the Previous Period to HK$164.7 million for the Current Period, representing an increase of approximately 93.8%[137]. - Administrative expenses increased by approximately HK$1.1 million or 19.6% to HK$6.7 million for the Current Period compared to HK$5.6 million for the Previous Period[144]. Shareholder Information - Ms. Hui Man Yee, Maggie holds 112,500,000 shares, representing 56.25% of the issued share capital[166]. - Mr. Wong Kin Kei has an interest in 37,500,000 shares, which accounts for 18.75% of the issued share capital[166]. - Mr. Wong Sai Chuen also holds 112,500,000 shares, equivalent to 56.25% of the issued share capital[166]. - Madison Square International Investment Limited, a controlled corporation, holds 112,500,000 shares, representing 56.25% of the issued share capital[175]. - J&J Partner Investment Group Limited, another controlled corporation, holds 37,500,000 shares, which is 18.75% of the issued share capital[175]. - As of June 30, 2019, no other directors or their close associates had interests in shares or debentures of the company[180]. Financial Position - The company’s retained earnings as of 30 June 2019 were HK$73,037,000, compared to HK$69,524,000 as of 1 April 2019, showing an increase of approximately 3.6%[42]. - The company’s total equity as of 30 June 2019 was HK$142,978,000, up from HK$136,804,000 as of 1 April 2019, reflecting an increase of about 4.6%[42]. - As of 30 June 2019, the Group had net current assets of approximately HK$121.1 million, an increase from HK$114.4 million as of 31 March 2019[149]. - The Group's cash and cash equivalents balances were approximately HK$125.8 million as of 30 June 2019, up from HK$106.0 million as of 31 March 2019[149]. - The current ratio was approximately 1.5 times as at 30 June 2019, unchanged from 31 March 2019[153]. - The gearing ratio of the Group decreased to 2.2% as at 30 June 2019 from 9.4% as at 31 March 2019[153]. - The equity attributable to owners of the Company amounted to approximately HK$135.3 million as at 30 June 2019, compared to HK$131.9 million as at 31 March 2019[154]. Compliance and Governance - The financial information has been prepared in accordance with applicable Hong Kong Financial Reporting Standards and has been reviewed by the audit committee but not audited by the external auditor[46]. - The Group adopted HKFRS 16 "Leases" from April 1, 2019, resulting in the recognition of lease liabilities measured at the present value of remaining lease payments[54]. - The Group has not restated comparatives for the March 31, 2019 reporting period, as permitted under the transitional provisions of the standard[54]. - The Group's leasing activities include various offices, warehouses, and equipment, with rental contracts typically ranging from one to four years[61]. - The Group has used practical expedients such as a single discount rate for similar leases and accounting for short-term leases[56]. - The Group's leasing activities are accounted for using the present value basis, with lease liabilities reflecting the net present value of fixed lease payments[70]. Employee and Staff Costs - Staff costs rose to HK$9,547,000 in Q2 2019 from HK$8,242,000 in Q2 2018, marking a 15.9% increase[94]. - The Group had a total of 80 employees as of 30 June 2019, consistent with the number as of 31 March 2019[160]. Earnings Per Share - Earnings per share attributable to owners of the Company decreased to HK$1.77 from HK$2.46, a decrease of about 28.0%[39]. - Basic earnings per share decreased to HK$1.77 from HK$2.46, a decline of 28.0% year-over-year[103].
庄皇集团公司(08501) - 2020 Q1 - 季度财报