Financial Performance - Revenue for the nine months ended December 31, 2020, was HKD 201,595,000, representing an increase of 18.52% compared to HKD 170,091,000 for the same period in 2019[4] - Gross profit for the same period was HKD 41,845,000, reflecting a significant increase of 53.46% from HKD 27,267,000 in 2019[4] - Profit attributable to equity holders for the nine months was HKD 18,040,000, a remarkable increase of 157.57% compared to HKD 7,004,000 in the previous year[4] - Basic and diluted earnings per share for the nine months were 1.50 HK cents, up 158.62% from 0.58 HK cents in 2019[4] - For the three months ended December 31, 2020, revenue was HKD 72,349,000, an increase from HKD 58,630,000 in the same quarter of 2019[6] - The company reported a net profit of HKD 8,104,000 for the three months ended December 31, 2020, compared to HKD 1,570,000 for the same period in 2019[6] - Total revenue for the three months ended December 31, 2020, was HKD 72,349,000, up from HKD 58,630,000 in 2019, reflecting a growth of 23%[24] - For the nine months ended December 31, 2020, total revenue reached HKD 201,595,000, compared to HKD 170,091,000 for the same period in 2019, marking an increase of 18%[24] Expenses and Cost Management - Administrative and other operating expenses decreased to HKD 19,104,000 for the nine months ended December 31, 2020, from HKD 20,119,000 in 2019[6] - Total administrative and other operating expenses decreased from HKD 20,119 thousand for the nine months ended December 31, 2019, to HKD 19,104 thousand for the same period in 2020, a reduction of approximately 5.04%[26] - Interest expenses on bank and other borrowings decreased from HKD 47 thousand for the nine months ended December 31, 2019, to HKD 18 thousand for the same period in 2020, a decline of approximately 61.70%[27] - Employee costs, including directors' remuneration, decreased from HKD 11,001 thousand for the nine months ended December 31, 2019, to HKD 9,568 thousand for the same period in 2020, a decrease of approximately 12.99%[26] - Administrative and other operating expenses decreased by approximately HKD 1.02 million or 5.07%, down to about HKD 19.10 million, due to stricter cost controls[46] Dividends and Shareholder Information - The board declared an interim dividend of 0.25 HK cents per share for the nine months ended December 31, 2020, compared to no dividend in the same period of 2019[4] - A mid-term dividend of HKD 0.025 per share was declared, compared to no dividend in the previous period[54] - As of December 31, 2020, Success Step holds 418,500,000 shares, representing 34.88% of the total issued share capital of 1,200,000,000 shares[61] - Noble Capital owns 391,500,000 shares, accounting for 32.63% of the total issued share capital[61] - Legend Advanced holds 90,000,000 shares, which is 7.50% of the total issued share capital[62] - The total beneficial ownership of Success Step, Noble Capital, and Legend Advanced combined is 508,500,000 shares, or 42.38% of the total issued share capital[61] - As of December 31, 2020, no major shareholders or high-holding shareholders have disclosed any interests or short positions in the company's shares[63] - The company did not purchase, sell, or redeem any shares during the reporting period[64] Corporate Governance and Compliance - The company has complied with the GEM Listing Rules regarding corporate governance and has adopted the required trading code for directors[69] - The roles of Chairman and CEO are held by the same individual, Mr. Pan Zhengqiang, who has over 31 years of experience in the industry[69] - The company has no reported conflicts of interest or competitive activities involving its directors or major shareholders during the reporting period[65] - The compliance advisor's services were terminated on June 30, 2020, with no interests reported in the company's capital by the compliance advisor or its affiliates[68] - The audit committee has reviewed the quarterly performance for the reporting period and confirmed compliance with applicable accounting standards and GEM listing rules[72] - The audit committee consists of three independent non-executive directors, ensuring independent oversight of financial reporting[72] - The company has adhered to the principles of the corporate governance code during the reporting period[71] Operational Highlights - The company continues to focus on providing electromechanical engineering system installation, alteration, and maintenance services in Hong Kong[9] - The group reported revenue from installation works of HKD 51,477,000 for the three months ended December 31, 2020, compared to HKD 28,230,000 for the same period in 2019, representing an increase of 82%[24] - Revenue from alteration and addition services decreased to HKD 18,919,000 for the three months ended December 31, 2020, down from HKD 29,140,000 in 2019, a decline of 35%[24] - Maintenance services revenue increased to HKD 1,953,000 for the three months ended December 31, 2020, compared to HKD 1,260,000 in 2019, an increase of 55%[24] - The company utilized prefabrication techniques in its operations, leading to reduced installation costs and improved gross profit contributions[37] - The group plans to actively participate in public housing projects, which are expected to provide various opportunities for the construction industry[39] - The group has fully implemented the operation of a prefabrication factory, which is expected to yield more benefits from material savings and waste reduction in the near future[40] Financial Reporting Standards - The group adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2020, which are not expected to have a significant impact on the consolidated financial statements[19] - The group has early adopted the COVID-19 related rent concessions under HKFRS 16, effective from April 1, 2020[21] - The revised HKAS 1 clarifies the classification of liabilities as current or non-current, based on rights existing at the end of the reporting period[22] - The group is currently evaluating the impact of the newly issued and revised Hong Kong Financial Reporting Standards on its financial statements[22] - The group has implemented a simplified assessment for whether a group of activities and assets acquired constitutes a business under the revised HKFRS 3[15] Taxation and Financing - Income tax expenses rose by approximately HKD 2.31 million or 176.34%, reaching about HKD 3.62 million due to increased taxable profits[48] - The financing costs increased to approximately HKD 0.29 million from HKD 0.06 million due to the adoption of HKFRS 16[47]
荧德控股(08535) - 2021 Q3 - 季度财报