Contracts and Revenue - The group completed 4 contracts with a total value of HKD 96.5 million during the review period, while 15 new contracts were awarded with a total value of HKD 96.4 million[15]. - As of December 31, 2020, the group had a total of 33 contracts with a total value of HKD 791.8 million[15]. - The company’s only revenue source during the periods was from civil engineering construction services, with no further breakdown of individual financial data[48]. - For the nine months ended December 31, 2020, the company reported a total revenue of 123,998 thousand HKD, an increase from 116,427 thousand HKD in the same period of 2019, representing a growth of approximately 6.5%[58]. Financial Performance - The group's revenue decreased by approximately HKD 59.3 million or 13.1% to HKD 394 million for the nine months ended December 31, 2020, compared to HKD 453.3 million for the same period in 2019[20]. - Gross profit fell by approximately HKD 20.9 million or 46.8% to HKD 23.8 million, with the gross profit margin declining from 9.9% to 6.0%[23]. - The company reported a profit of approximately HKD 26 million, a decrease of HKD 1.6 million or 5.8% compared to HKD 27.6 million in the previous year[30]. - The company's profit before tax for the nine months ended December 31, 2020, was 9,670 thousand HKD, compared to 26,027 thousand HKD for the same period in 2019, indicating a decline of about 62.8%[64]. - The company reported a basic earnings per share of 24.2 HKD for the nine months ended December 31, 2020, down from 65.1 HKD in the same period of 2019, a decrease of about 62.8%[64]. Costs and Expenses - Direct costs reduced by approximately HKD 38.4 million or 9.4% to HKD 370.2 million for the nine months ended December 31, 2020, from HKD 408.6 million in the previous year[21]. - Administrative expenses rose by approximately HKD 3.3 million or 35.1% to HKD 12.7 million for the nine months ended December 31, 2020[26]. - Financing costs increased by approximately HKD 600,000 or 21.4% to HKD 3.4 million, attributed to higher bank loan interest from additional mortgage loans[29]. - The total employee costs, including direct labor costs, amounted to 116,614 thousand HKD for the nine months ended December 31, 2020, up from 109,509 thousand HKD in 2019, reflecting an increase of approximately 6.4%[58]. - The interest expenses on bank loans for the nine months ended December 31, 2020, were 2,682 thousand HKD, compared to 1,910 thousand HKD in 2019, representing an increase of approximately 40.3%[54]. Government Support and COVID-19 Impact - The group received a total of HKD 20 million in wage subsidies under the government's Employment Support Scheme to mitigate the impact of COVID-19[16]. - The group has not experienced any significant impact on its business activities due to the COVID-19 outbreak as of the report date[16]. - The group has implemented enhanced COVID-19 prevention measures to ensure a safe working environment for all employees and workers[16]. - The company received government subsidies related to COVID-19 amounting to approximately HKD 20,289,000 during the nine months, primarily from the Hong Kong government's Employment Support Scheme[49]. Legal and Compliance - The group is subject to ongoing legal proceedings related to safety compliance issues, with a trial scheduled for May 2021[19]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated financial performance for the nine months ended December 31, 2020[82]. - The company has complied with the corporate governance code provisions during the nine months ended December 31, 2020[84]. - There were no disclosures required under GEM Listing Rules sections 17.22, 17.23, and 17.24[85]. Equity and Retained Earnings - As of December 31, 2020, the total equity amounted to HKD 189,845,000, up from HKD 163,818,000 as of April 1, 2020[36]. - The total comprehensive income for the nine months ended December 31, 2020, was HKD 27,608,000, increasing the retained earnings to HKD 81,863,000[36]. - As of December 31, 2020, the company’s retained earnings increased to HKD 109,187,000 from HKD 83,160,000 as of April 1, 2020[36]. Future Outlook - The management is optimistic about the construction business maintaining strong growth potential, anticipating a recovery in infrastructure investment post-COVID-19[31]. - The company’s management indicated plans for market expansion and potential new product development in the upcoming quarters, although specific details were not disclosed[67].
常满控股(08523) - 2021 Q3 - 季度财报