Financial Performance - The group recorded unaudited revenue of approximately HKD 62.7 million for the nine months ended December 31, 2020, a decrease of about 32.0% compared to HKD 92.1 million for the same period in 2019[11] - The unaudited loss for the nine months ended December 31, 2020, was approximately HKD 14.3 million, compared to an unaudited loss of HKD 11.0 million for the same period in 2019[11] - For the three months ended December 31, 2020, the group reported unaudited revenue of HKD 18.9 million, compared to HKD 13.3 million for the same period in 2019[12] - The gross profit for the nine months ended December 31, 2020, was HKD 11.4 million, down from HKD 15.6 million in the same period of 2019[12] - The group incurred a pre-tax loss of HKD 14.5 million for the nine months ended December 31, 2020, compared to a pre-tax loss of HKD 11.0 million for the same period in 2019[12] - The basic and diluted loss per share for the nine months ended December 31, 2020, was HKD 3.6, compared to HKD 2.8 for the same period in 2019[12] - The total equity attributable to owners of the company as of December 31, 2020, was HKD 21.7 million, down from HKD 42.0 million as of December 31, 2019[13] - The group reported other comprehensive loss of HKD 14.3 million for the nine months ended December 31, 2020[13] - The group reported a loss before tax of HKD 14,344,000 for the nine months ended December 31, 2020, compared to a loss of HKD 11,036,000 for the same period in 2019, representing an increase in loss of approximately 30%[26] - The basic loss per share for the nine months ended December 31, 2020, was HKD 35.86, compared to HKD 27.59 for the same period in 2019[26] - Total loss increased from approximately HKD 11.0 million for the nine months ended December 31, 2019, to approximately HKD 14.3 million for the nine months ended December 31, 2020, mainly due to a significant decrease in revenue[43] Revenue and Sales - Revenue from goods sales for the nine months ended December 31, 2020, was HKD 62,662,000, a decrease of 32% compared to HKD 92,149,000 for the same period in 2019[18] - The company’s revenue decline was primarily attributed to conservative procurement attitudes from clients and the impact of the COVID-19 pandemic[29] - The revenue from outerwear products accounted for 37.4% of total revenue in 2020, down from 48.8% in 2019[29] - Total sales volume decreased to 604,486 units for the nine months ended December 31, 2020, compared to 867,839 units for the same period in 2019[31] - The average selling price of jackets increased by 20.7% to HKD 208.0 in 2020, while the average selling price of T-shirts decreased by 27.8% to HKD 54.6[33] Expenses and Losses - The group experienced a significant increase in sales costs, totaling HKD 51.2 million for the nine months ended December 31, 2020, compared to HKD 76.6 million for the same period in 2019[12] - Sales and distribution expenses decreased by approximately 14.3% to about HKD 4.9 million for the nine months ended December 31, 2020, primarily due to travel restrictions caused by the COVID-19 pandemic[39] - Administrative expenses decreased from approximately HKD 21.2 million for the nine months ended December 31, 2019, to approximately HKD 19.9 million for the nine months ended December 31, 2020, a reduction of about 6.4%[40] - Financing costs increased from approximately HKD 0.6 million for the nine months ended December 31, 2019, to approximately HKD 0.7 million for the nine months ended December 31, 2020, primarily due to increased bank borrowings for operational funding[41] - The group recognized a loss of HKD 1,690,000 in depreciation of property, plant, and equipment for the nine months ended December 31, 2020[20] - The group incurred a loss of HKD 1,004,000 in bad debt write-offs for the nine months ended December 31, 2020[20] - The company experienced other losses of approximately HKD 2.2 million for the nine months ended December 31, 2020, compared to other income of about HKD 0.9 million in the same period in 2019[38] Government Support and Other Income - Other income for the nine months ended December 31, 2020, totaled HKD 1,828,000, significantly up from HKD 125,000 in the same period of 2019[19] - The group received government subsidies amounting to HKD 1,767,000 for the nine months ended December 31, 2020[19] - Other income increased to approximately HKD 1.8 million for the nine months ended December 31, 2020, from about HKD 0.1 million in the same period in 2019, mainly due to subsidies received under the employment support scheme[37] Dividends and Shareholder Information - The board does not recommend the payment of any dividends for the nine months ended December 31, 2020[11] - The company will not declare a dividend for the nine months ended December 31, 2020[45] - Major shareholders, Mr. Leung and Ms. Tam, each hold 280,000,000 shares, representing 70% of the company, through Giant Treasure Development Limited[47] Corporate Governance and Compliance - The company has appointed Da You Financing Limited as its compliance advisor as per GEM Listing Rule 6A.19[55] - The board has adopted and complied with the corporate governance code as per GEM Listing Rules Appendix 15, with an exception for Rule A.2.1 regarding the separation of the roles of Chairman and CEO[56] - The company has adopted a code of conduct for securities transactions by directors, which meets the required standards of GEM Listing Rules 5.48 to 5.67, and no non-compliance has been reported as of December 31, 2020[57] - The audit committee, consisting of three independent non-executive directors, has reviewed the quarterly report and the unaudited consolidated results for the nine months ended December 31, 2020, confirming compliance with applicable accounting standards and GEM Listing Rules[60] Future Outlook - The company anticipates no short-term or long-term liquidity issues and will closely monitor developments related to the COVID-19 pandemic[44] - The company plans to focus on developing the Australian market, investing more resources to acquire new customers and build its brand image[46] Events After Reporting Period - There have been no significant events after December 31, 2020, that would impact the group's operations and financial performance[58]
爱世纪集团(08507) - 2021 Q3 - 季度财报