Financial Performance - The group recorded unaudited revenue of approximately HKD 17.2 million for the three months ended June 30, 2020, a decrease of about 42.5% compared to HKD 29.9 million for the same period in 2019[6]. - The unaudited loss for the three months ended June 30, 2020, was approximately HKD 4.5 million, compared to a loss of HKD 5.4 million for the same period in 2019[6]. - Gross profit for the three months ended June 30, 2020, was HKD 2.987 million, down from HKD 4.907 million in the same period of 2019[7]. - Revenue from goods sold for the three months ended June 30, 2020, was HKD 17,190,000, a decrease of 42.6% compared to HKD 29,886,000 for the same period in 2019[13]. - The group reported a net loss before tax of HKD 4,522,000 for the three months ended June 30, 2020, compared to a loss of HKD 5,401,000 for the same period in 2019, indicating an improvement[18]. - Total loss attributable to owners decreased from approximately HKD 5.4 million for the three months ended June 30, 2019, to about HKD 4.5 million for the same period in 2020[36]. Expenses - The group incurred selling and distribution expenses of HKD 1.471 million for the three months ended June 30, 2020, compared to HKD 1.650 million in the same period of 2019[7]. - Administrative expenses decreased to HKD 6.286 million for the three months ended June 30, 2020, from HKD 7.106 million in the same period of 2019[7]. - The cost of sales for the three months ended June 30, 2020, was HKD 13,443,000, down from HKD 24,325,000 in the same period of 2019, reflecting a reduction of 44.7%[15]. - Employee costs, including directors' remuneration, totaled HKD 5,932,000 for the three months ended June 30, 2020, slightly up from HKD 5,643,000 in 2019[15]. - The sales cost decreased from approximately HKD 25.0 million in 2019 to about HKD 14.2 million in 2020, a reduction of approximately 43.1%[28]. - Administrative expenses decreased from approximately HKD 7.1 million in 2019 to about HKD 6.3 million in 2020, a reduction of approximately 11.5%[33]. - The sales and distribution expenses decreased from approximately HKD 1.7 million in 2019 to about HKD 1.5 million in 2020, a decrease of approximately 10.8%[32]. Dividends - The board of directors did not recommend the payment of any dividend for the three months ended June 30, 2020, consistent with the previous year[6]. - The group did not recommend any dividend for the three months ended June 30, 2020[19]. - No dividends were recommended for the three months ended June 30, 2020, consistent with the previous year[37]. Equity and Share Information - The total equity attributable to owners of the company as of June 30, 2020, was HKD 31.516 million, down from HKD 47.675 million as of June 30, 2019[8]. - The basic and diluted loss per share for the three months ended June 30, 2020, was HKD 1.1, compared to HKD 1.4 for the same period in 2019[7]. - The weighted average number of ordinary shares used to calculate basic loss per share was 400,000, unchanged from the same period in 2019[18]. Market and Sales Performance - The total sales volume for the three months ended June 30, 2020, was 138,939 units, a decrease from 194,217 units in 2019[25]. - The revenue breakdown by product category showed that jackets accounted for 56.6% of total revenue in 2020, down from 68.4% in 2019[22]. - The average selling price of jackets increased by 2.0% to HKD 186.9, while the average selling price of sweaters decreased by 45.0% to HKD 56.7[26]. - The proportion of revenue from the Australian market increased from 11.5% in 2019 to 16.3% in the fiscal year ended March 31, 2020[38]. Other Income and Taxation - Other income for the three months ended June 30, 2020, was HKD 49, slightly down from HKD 59 in the same period of 2019[7]. - Other income decreased by approximately 16.9% to about HKD 49,000 from HKD 59,000 in the previous year, primarily due to a reduction in interest income[30]. - Income tax credit for the three months ended June 30, 2020, was approximately HKD 41,000, compared to an income tax expense of about HKD 84,000 for the same period in 2019[35]. - The group has not made any provisions for Hong Kong profits tax, Chinese corporate income tax, or other overseas subsidiary taxes due to the absence of taxable profits during the period[17]. Corporate Governance - The company has adopted and complied with the corporate governance code as per GEM Listing Rules Appendix 15, except for deviation from code provision A.2.1 regarding the separation of roles of Chairman and CEO[48]. - The company has established an audit committee consisting of three independent non-executive directors, ensuring compliance with applicable accounting standards and GEM Listing Rules[51]. - There were no known business interests or potential conflicts of interest involving directors or major shareholders during the reporting period[46]. Future Outlook - The company will allocate more resources to strengthen growth in the Australian market, focusing on sustainable development concepts[38]. - The company will maintain a cautious approach in the uncertain European and American markets while preparing for potential demand rebounds[38]. Miscellaneous - The group recorded a net foreign exchange loss of HKD 9,000 for the three months ended June 30, 2020, compared to a gain of HKD 121,000 in the same period of 2019[14]. - The depreciation of property, plant, and equipment was HKD 458,000 for the three months ended June 30, 2020, compared to HKD 429,000 in 2019[15]. - The company has adopted all new and revised Hong Kong Financial Reporting Standards effective from April 1, 2020, with no significant impact on the financial statements[12]. - No purchases, sales, or redemptions of the company's listed securities occurred during the three months ended June 30, 2020[45]. - The company has not established any arrangements that would benefit directors or their close associates through the acquisition of shares or bonds during the reporting period[44]. - No significant matters affecting the group have been disclosed post-reporting period up to the report date[50].
爱世纪集团(08507) - 2021 Q1 - 季度财报