Financial Performance - Revenue for the three months ended June 30, 2021, was HK$72,379,000, representing an increase of 7.3% compared to HK$67,066,000 for the same period in 2020[10]. - Gross profit for the same period was HK$4,852,000, slightly up from HK$4,742,000, indicating a gross margin improvement[10]. - Profit for the period was HK$1,161,000, a decrease of 26% from HK$1,567,000 in the prior year[10]. - Total comprehensive income for the period was HK$1,197,000, compared to HK$1,563,000 in the previous year, showing a decline of 23.3%[10]. - Basic and diluted earnings per share for the period were both HK$0.15, down from HK$0.20 in the same period last year[10]. - The Group's profit for the period ended June 30, 2021, was HK$19,000, compared to HK$1,467,000 for the same period in 2020, indicating a significant decrease[43]. - Profit for the period decreased from approximately HK$1.6 million to about HK$1.2 million, influenced by a decrease in other income and gains, despite a slight increase in gross profit[92]. Revenue Breakdown - Revenue from construction services for residential properties decreased to HK$35,103,000, down 34% from HK$53,817,000 in the previous year[32]. - Revenue from construction services for commercial properties increased significantly to HK$37,276,000, up 181% from HK$13,249,000 in the same period last year[32]. - The Group's total revenue increased by approximately HK$5.3 million or 7.9%, from approximately HK$67.1 million for the three months ended June 30, 2020, to approximately HK$72.4 million for the three months ended June 30, 2021[80]. - Total revenue increased by approximately HK$5.3 million or 7.9% from about HK$67.1 million for the three months ended June 30, 2020, to about HK$72.4 million for the three months ended June 30, 2021, primarily due to contributions from a large project[84]. Expenses and Costs - Administrative expenses decreased to HK$2,629,000 from HK$3,140,000, reflecting a reduction of 16.2%[10]. - Total staff costs for the period were HK$11,442,000, up 21.5% from HK$9,415,000 in the previous year[56]. - The cost of services rose to approximately HK$67.5 million for the three months ended June 30, 2021, up from approximately HK$62.3 million for the same period in 2020, representing an increase of approximately 8.3%[81]. - Service costs rose from approximately HK$62.3 million to about HK$67.5 million, an increase of approximately 8.3%, consistent with the revenue growth[85]. - Finance costs were reduced to HK$941,000 from HK$1,396,000, a decrease of 32.7%[10]. - Interest on bank borrowings decreased to HK$911,000 from HK$1,384,000, reflecting a reduction of 34.1%[46]. - Finance costs decreased from approximately HK$1.4 million to about HK$0.9 million, primarily due to a decrease in the average interest rate of bank borrowings[90]. Shareholder Information - The company’s controlling shareholder, Mr. Chow Mo Lam, holds a long position of 600,000,000 shares, representing 75% of the company's shareholding[100]. - The interests in shares of the company are held through C.N.Y. Holdings Limited, which is owned 83% by Mr. Chow and 17% by Mr. Yu, both of whom are executive directors[101]. - C.N.Y. Holdings Limited directly holds 600,000,000 shares, representing 75% of the issued capital of the Company[110]. - Mr. Chow Mo Lam owns 83% of C.N.Y. Holdings Limited, while Mr. Yu Lap On Stephen owns 17%[116]. - As of June 30, 2021, no other Directors or chief executives had interests or short positions in the shares of the Company[105]. Corporate Governance - The Company has not purchased, sold, or redeemed any of its listed securities during the reporting period[118]. - The Group has adopted a share option scheme, but no share options had been granted as of June 30, 2021[120]. - The Company complied with all applicable code provisions set out in the Corporate Governance Code during the three months ended June 30, 2021[121]. - There were no known competing businesses or conflicts of interest involving Directors or controlling shareholders as of June 30, 2021[117]. - The Company has confirmed that all Directors complied with the required standards for securities transactions during the reporting period[119]. - The Audit Committee has reviewed the unaudited condensed consolidated financial statements for the three months ended June 30, 2021, and confirmed compliance with applicable accounting standards and GEM Listing Rules[129]. Market and Economic Conditions - The demand for façade and curtain wall works is driven by the construction of residential buildings, which increased from 13,643 new units in 2019 to 20,888 new units in 2020[69]. - Office completions in Hong Kong were 69,000 m² in 2020, a significant fall of 74% from 2019, with expectations for completions to increase to 70,900 m² in 2021 and 275,300 m² in 2022[74]. - The Group remains optimistic about its core business despite the economic slowdown, aiming to expand its customer base and achieve sustainable growth[75]. - The recent outbreak of COVID-19 is expected to impact the Group's business, and the Board will continue to assess its potential effects[76].
宝发控股(08532) - 2022 Q1 - 季度财报