Financial Performance - The group recorded unaudited revenue of approximately HKD 28.5 million for the three months ended June 30, 2021, representing an increase of about 66.0% compared to HKD 17.2 million for the same period in 2020[8]. - The unaudited loss for the same period was approximately HKD 1.4 million, a decrease of 68.5% from a loss of HKD 4.5 million in the prior year[8]. - Gross profit for the three months ended June 30, 2021, was HKD 5.3 million, compared to HKD 3.0 million for the same period in 2020[9]. - The group reported a net loss attributable to owners of approximately HKD 1.4 million for the period, compared to HKD 4.5 million in the same period last year[9]. - The basic and diluted loss per share for the period was HKD 0.4 cents, improved from HKD 1.1 cents in the prior year[9]. - The total loss attributable to owners improved from about HKD 4.5 million to about HKD 1.4 million, mainly due to increased revenue and gross margin[42]. Revenue Breakdown - Major clients contributing over 10% of total revenue included Client A with HKD 5,684,000 and Client C with HKD 5,568,000, while Client B contributed HKD 4,530,000 in the previous year[19]. - Revenue from the United States was HKD 10,132,000, a decrease of 9% from HKD 11,133,000 in the same period last year[21]. - The company's revenue for the three months ended June 30, 2021, was HKD 28,535,000, a significant increase of 66.3% compared to HKD 17,190,000 for the same period in 2020[17]. Expenses and Costs - The group incurred selling and distribution expenses of HKD 1.9 million, up from HKD 1.5 million in the previous year[9]. - Administrative expenses decreased to HKD 5.6 million from HKD 6.3 million year-on-year[9]. - Employee costs, including salaries and wages, totaled HKD 5,091,000, down from HKD 5,932,000 in the previous year, indicating a reduction in workforce expenses[23]. - Selling and distribution expenses increased by approximately 28.5% from about HKD 1.5 million to about HKD 1.9 million, attributed to salary increases and a rise in procurement staff numbers[38]. - Financing costs increased by approximately 70.3% from about HKD 0.2 million to about HKD 0.3 million, due to increased bank borrowings for operational funding[40]. Dividends - The board of directors did not recommend any dividend payment for the three months ended June 30, 2021, consistent with the previous year[8]. - The company did not declare any dividends for the three months ended June 30, 2021[26]. - The company did not recommend any dividend for the three months ended June 30, 2021[43]. Equity and Financial Position - The total equity attributable to owners as of June 30, 2021, was HKD 17.96 million, down from HKD 31.52 million a year earlier[10]. - The company's cash and cash equivalents as of June 30, 2021, were not disclosed in the provided content, indicating a need for further financial details in future reports[10]. Compliance and Governance - The company has adopted and complied with the corporate governance code as per GEM Listing Rules, with a noted deviation regarding the separation of the roles of Chairman and CEO[52]. - The company has established an audit committee consisting of three independent non-executive directors, with Liu Youzhuan appointed as the chairman[55]. - The audit committee reviewed the unaudited condensed consolidated financial results for the three months ended June 30, 2021, confirming compliance with applicable accounting standards and GEM Listing Rules[56]. Future Outlook - The company aims to strengthen sales and focus on sustainable development, producing high-quality sports and activewear as part of its future strategy[44]. - The company is currently evaluating the potential impact of future new and revised standards on its financial performance and position[16]. Other Financial Details - The company has adopted new and revised Hong Kong Financial Reporting Standards effective from April 1, 2021, with no significant impact on the financial statements reported[16]. - The deferred tax recognized for the period was HKD 133,000, compared to HKD 41,000 in the previous year[7]. - The tax rate for the company's subsidiaries in China is 25% as per the Corporate Income Tax Law[25]. - Other income rose by approximately 12.2% from about HKD 49,000 to about HKD 55,000, primarily due to an increase in bank interest income[36]. - Other gains increased from about HKD 0.4 million to about HKD 0.9 million, mainly due to the reversal of impairment losses on trade receivables[37].
爱世纪集团(08507) - 2022 Q1 - 季度财报