Revenue Performance - Revenue for the three months ended December 31, 2018, was HKD 33,569,000, representing an increase of 2.6% compared to HKD 32,731,000 for the same period in 2017[5] - Revenue for the nine months ended December 31, 2018, was HKD 92,747,000, up 14.3% from HKD 81,220,000 in the same period of 2017[5] - For the nine months ended December 31, 2018, the company's revenue increased by approximately 14.2% to about HKD 92,700,000 from HKD 81,200,000 for the same period in 2017[19] Losses and Financial Performance - The group reported a loss before tax of HKD 8,572,000 for the three months ended December 31, 2018, compared to a profit of HKD 16,000 for the same period in 2017[5] - The total comprehensive loss for the nine months ended December 31, 2018, was HKD 23,836,000, compared to a loss of HKD 10,671,000 for the same period in 2017[5] - The company reported a loss attributable to owners of approximately HKD 23,800,000 for the nine months ended December 31, 2018, compared to a loss of HKD 10,700,000 for the same period in 2017[25] Earnings Per Share - Basic loss per share for the three months ended December 31, 2018, was HKD 1.07, compared to HKD 0.09 for the same period in 2017[5] Expenses - The group incurred employee costs of HKD 14,024,000 for the three months ended December 31, 2018, an increase of 26.9% from HKD 11,061,000 in the same period of 2017[5] - Employee costs rose to approximately HKD 38,400,000 for the nine months ended December 31, 2018, compared to HKD 28,200,000 for the same period in 2017[23] - The cost of materials and consumables used increased significantly to approximately HKD 33,400,000 for the nine months ended December 31, 2018, up from HKD 21,800,000 for the same period in 2017[22] - The group’s rental and related expenses for the three months ended December 31, 2018, were HKD 8,151,000, up 22.1% from HKD 6,680,000 in the same period of 2017[5] - Rental and related expenses increased to approximately HKD 22,500,000 for the nine months ended December 31, 2018, from HKD 16,900,000 for the same period in 2017[24] Dividends - The group has not declared or proposed any dividends for the nine months ended December 31, 2018[15] Equity and Shareholding - The total equity attributable to owners of the company as of December 31, 2018, was HKD 26,004,000, down from HKD 49,840,000 as of April 1, 2018[6] - As of December 31, 2018, JSS Group Corporation holds 486,720,000 shares, representing 60.84% of the company's total shares[36] - J & W Group Limited owns 56,640,000 shares, accounting for 7.08% of the company's total shares[39] - The total number of shares held by major shareholders includes JSS Group, J & W Group, and Oxlo Corporation, all classified as "long position"[39] Corporate Governance - The company has adopted a code of conduct regarding securities trading by directors, compliant with GEM Listing Rules[46] - There were no reported non-compliance situations regarding the trading standards for directors as of December 31, 2018[46] - The company has confirmed compliance with the corporate governance code as per GEM Listing Rules Appendix 15[47] - No interests were disclosed by directors or major shareholders that could lead to conflicts of interest with the company's business[42] - The company has established an Audit and Risk Management Committee consisting of three independent non-executive directors to oversee compliance with applicable laws and regulations[49] - The Audit and Risk Management Committee is responsible for reviewing the financial reporting process, risk management procedures, and internal control systems[49] Business Strategy and Expansion - The group continues to focus on expanding its restaurant services and enhancing customer experience[9] - The company successfully raised approximately HKD 43,200,000 through a public offering and placement upon listing on GEM on February 13, 2018[20] - The company plans to use part of the listing proceeds to cover the opening costs of the re-launched "Man Jiang Hong" restaurant in Tsim Sha Tsui and to establish a new "Xin Zai" restaurant in Taipei, Taiwan[29] - The company is actively seeking suitable locations in Hong Kong to establish new "Xin Zai" restaurants and plans to relocate some existing restaurants[30] - The company has intensified its marketing efforts, utilizing part of the listing proceeds for this purpose to enhance brand recognition and competitiveness in the restaurant industry[29] Reporting and Compliance - The company confirmed that the unaudited third-quarter results for the nine months ending December 31, 2018, were prepared in accordance with applicable accounting principles and regulations[51] - The chairman and CEO, Mr. Zhu Jiafei, holds both positions to ensure effective implementation of the company's business strategies[48] - The board believes that having Mr. Zhu in both roles is in the best interest of the group, given his deep understanding and extensive experience in the business[48] - The board consists of individuals with diverse professional backgrounds, including three independent non-executive directors, ensuring a balance of power and authority[48] - The company will publish its reports on the GEM website and its own website for at least seven days from the report date[53] Share Transactions - No shares or securities were purchased, sold, or redeemed by the company or its subsidiaries during the nine months ending December 31, 2018[41] - The company has not issued or granted any convertible securities, options, or similar rights during the same period[41]
TOPSTANDARDCORP(08510) - 2018 Q4 - 季度财报