Financial Performance - For the nine months ended September 30, 2021, the group recorded revenue of approximately HKD 101,924,000, an increase of about 14.7% compared to HKD 88,868,000 for the same period in 2020[15]. - Gross profit for the same period was approximately HKD 32,835,000, representing a 24.9% increase from HKD 26,285,000 in the previous year[15]. - The gross profit margin improved to 32.2% for the nine months ended September 30, 2021, up from 29.6% in the same period of 2020[15]. - The company reported a net loss of HKD 27,028,000 for the nine months ended September 30, 2021, compared to a net profit of HKD 7,517,000 for the same period in 2020[15]. - The net loss was primarily due to a provision for impairment of trade receivables amounting to approximately HKD 46,100,000[15]. - Total comprehensive loss for the nine months ended September 30, 2021, was HKD 24,300,000, compared to a total comprehensive income of HKD 10,815,000 in the same period of 2020[18]. - For the three months ended September 30, 2021, the company's revenue was approximately HKD 37,256,000, a decrease of about 20.3% compared to HKD 46,782,000 for the same period in 2020[61]. - For the nine months ended September 30, 2021, the company's revenue increased by approximately HKD 13,056,000 or 14.7% to about HKD 101,924,000, compared to HKD 88,868,000 for the same period in 2020[61]. Loss Attributable to Owners - The company reported a loss attributable to owners of HKD (32,761) thousand for the three months ended September 30, 2021, compared to a profit of HKD 6,290 thousand in the same period of 2020[20]. - For the nine months ended September 30, 2021, the company reported a loss attributable to owners of HKD (24,300) thousand, compared to a profit of HKD 7,517 thousand in the same period of 2020[20]. - Total comprehensive loss attributable to owners was HKD (32,761) thousand for the three months ended September 30, 2021, down from HKD 12,492 thousand in the same period of 2020[20]. Revenue Sources - Revenue from customer contracts for the three months ended September 30, 2021, was HKD 37,256 thousand, a decrease from HKD 46,782 thousand in the same period of 2020[33]. - Revenue from functional knitted fabrics sales was HKD 36,966 thousand for the three months ended September 30, 2021, compared to HKD 43,677 thousand in the same period of 2020[33]. - Major customer A contributed HKD 12,193 thousand in revenue for the three months ended September 30, 2021, compared to HKD 11,369 thousand in the same period of 2020[36]. - Major customer B contributed HKD 6,010 thousand in revenue for the three months ended September 30, 2021, down from HKD 21,842 thousand in the same period of 2020[36]. Expenses and Costs - Employee costs (excluding directors' remuneration) for the three months ended September 30, 2021, amounted to HKD 4,864,000, an increase of 70.4% from HKD 2,855,000 in the same period of 2020[42]. - Research and development expenses for the three months ended September 30, 2021, were HKD 2,365,000, a decrease of 32.5% from HKD 3,510,000 in the same period of 2020[42]. - The company incurred finance costs of HKD 502,000 for the three months ended September 30, 2021, compared to HKD 231,000 for the same period in 2020, representing a 117.3% increase[37]. - The sales and distribution expenses increased by approximately HKD 845,000 or 33.0% to about HKD 3,409,000 for the nine months ended September 30, 2021, mainly due to increased promotional and exhibition expenses[63]. - Administrative and other expenses decreased by approximately HKD 3,095,000 or 20.1% to about HKD 12,292,000 for the nine months ended September 30, 2021[65]. Dividends and Shareholder Information - No dividends were declared for the nine months ended September 30, 2021, consistent with the previous year[16]. - The company did not declare any dividends for the period, consistent with the previous year[46]. - The major shareholder, Mr. Huang, indirectly holds 75% of the company's issued share capital as of the report date[77]. - As of September 30, 2021, the major shareholder Cosmic Bliss Investments Limited holds 360,000,000 shares, representing 75% of the company's equity[83]. Corporate Governance - The company has established an audit committee in compliance with GEM Listing Rules, which has reviewed the unaudited consolidated financial information for the period[87]. - All directors have confirmed compliance with the established code of conduct regarding securities trading during the reporting period[88]. - The company has adhered to all applicable provisions of the corporate governance code during the reporting period and up to the report date[91]. - The executive directors as of the report date include Mr. Huang Jixiong and Mr. Xi Bin, with non-executive and independent non-executive directors also listed[92]. Market Conditions and Future Plans - The company continues to monitor market conditions and adjust strategies accordingly to navigate the ongoing economic recovery in China[15]. - The company plans to continue investing in the research and development of functional knitted fabrics and dyeing methods to enhance market competitiveness[58].
智云国际控股(08521) - 2021 Q3 - 季度财报