Financial Performance - Revenue for the three months ended June 30, 2020, was HK$67,066,000, a decrease of 16.4% compared to HK$80,281,000 for the same period in 2019[10] - Gross profit for the reporting period was HK$4,742,000, down 16.6% from HK$5,687,000 in the previous year[10] - Profit for the period increased to HK$1,567,000, representing an 78.2% increase from HK$879,000 in the same period last year[10] - Total comprehensive income for the period was HK$1,563,000, compared to HK$861,000 for the same period in 2019, marking an increase of 81.3%[10] - Basic earnings per share for the period was HK$0.20, up from HK$0.11 in the previous year, reflecting an increase of 81.8%[10] - Total revenue decreased by approximately HK$13.2 million or 16.5%, from approximately HK$80.3 million for the three months ended June 30, 2019, to approximately HK$67.1 million for the three months ended June 30, 2020[72] - Cost of services decreased to approximately HK$62.3 million for the three months ended June 30, 2020, from approximately HK$74.6 million for the same period in 2019, representing a decrease of approximately 16.4%[73] - Gross profit decreased by approximately HK$1.0 million from approximately HK$5.7 million for the three months ended June 30, 2019, to approximately HK$4.7 million for the same period in 2020[79] - Profit for the period increased from approximately HK$0.9 million for the three months ended June 30, 2019, to approximately HK$1.6 million for the same period in 2020[84] Revenue Breakdown - Revenue from residential properties was HK$53,817,000, down 24.5% from HK$71,251,000 in the previous year[33] - Revenue from commercial properties increased to HK$13,249,000, up 46.5% from HK$9,030,000 in 2019[33] - Major customers contributing over 10% of total revenue included Customer C3 with HK$50,540,000, while Customer A1 contributed HK$7,933,000, down from HK$13,132,000 in 2019[36] - Other income for the period was HK$1,467,000, compared to no other income reported in the same period last year[38] - Interest income for the period was HK$31,000, slightly down from HK$36,000 in 2019[38] Operational Overview - The Group primarily engages in construction and engineering business, with subsidiaries also established in the People's Republic of China[16] - The Group operates in a single segment focused on construction services, with all revenue generated from this line of business[28] - The Group's operations are primarily based in Hong Kong, serving property developers and main contractors in the private sector[34] - The Group's financial performance was impacted by a decrease in revenue from residential properties, reflecting market conditions[33] - The Group has eight ongoing projects with a total preliminary contract amount of approximately HK$593.3 million as of June 30, 2020[67] - Two new projects were secured during the reporting period, with a total contract amount of approximately HK$216.9 million[68] Expenses and Costs - Administrative expenses decreased to HK$3,140,000 from HK$3,317,000, a reduction of 5.3%[10] - Total staff costs for the three months ended June 30, 2020 amounted to HK$9,415,000, compared to HK$9,041,000 in 2019, reflecting an increase of approximately 4.1%[43] - Interest on bank loans and overdrafts for the period was HK$1,384,000, slightly up from HK$1,362,000 in the previous year[43] - The tax charge for the period included HK$139,000 for Hong Kong Profits Tax, compared to HK$115,000 in 2019, an increase of approximately 20.9%[46] Shareholding and Governance - As of June 30, 2020, Mr. Chow Mo Lam holds a long position of 600,000,000 shares, representing 75% of the company's shareholding[93] - The 600,000,000 shares are directly held by CNY, a BVI company, with Mr. Chow owning 83% and Mr. Yu owning 17%[94] - No other directors or chief executives had any interests or short positions in the shares of the company as of June 30, 2020[98] - C.N.Y. Holdings Limited, as a beneficial owner, also holds a long position of 600,000,000 shares, equating to 75% of the company's shareholding[103] - Ms. Hau Pak Sui, as the spouse of Mr. Chow, is deemed to have an interest in the same 600,000,000 shares[108] - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[110] - The Group adopted a share option scheme, but no share options had been granted up to June 30, 2020[112] - The Company has complied with all applicable code provisions in the Corporate Governance Code as of June 30, 2020[113] Audit and Compliance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards and have not been audited but reviewed by the audit committee[22] - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the three months ended June 30, 2020, confirming compliance with applicable accounting standards and adequate disclosure[121] - The Audit Committee consists of three independent non-executive directors, with Dr. Lung Cheuk Wah serving as the chairman[119] - All directors confirmed compliance with the required standard of dealings regarding securities transactions for the three months ended June 30, 2020[111] - The Company has established an Audit Committee in compliance with GEM Listing Rules since January 25, 2018[119] - The Group has not reported any business or interests that may directly or indirectly compete with its operations as of June 30, 2020[114]
宝发控股(08532) - 2021 Q1 - 季度财报