Financial Performance - Boltek Holdings Limited reported a revenue of HKD 50 million for the third quarter of 2020, representing a 20% increase compared to the same period last year[4]. - The company achieved a net profit of HKD 10 million, which is a 15% increase year-over-year[4]. - Revenue for the three months ended September 30, 2020, was HK$25,055,000, an increase of 7% compared to HK$23,416,000 in the same period of 2019[11]. - Gross profit for the nine months ended September 30, 2020, was HK$29,787,000, a decrease of 11% from HK$33,486,000 in the same period of 2019[11]. - Profit before income tax for the three months ended September 30, 2020, was HK$6,352,000, up 27% from HK$5,012,000 in the same period of 2019[11]. - Profit attributable to owners of the Company for the nine months ended September 30, 2020, was HK$13,992,000, a decrease of 3% compared to HK$14,372,000 in the same period of 2019[11]. - Basic and diluted earnings per share for the three months ended September 30, 2020, was 0.73 HK cents, compared to 0.51 HK cents in the same period of 2019[11]. - Other income and gain for the three months ended September 30, 2020, was HK$3,130,000, significantly higher than HK$171,000 in the same period of 2019[11]. - Total comprehensive income for the period attributable to owners of the Company for the three months ended September 30, 2020, was HK$5,853,000, compared to HK$4,092,000 in the same period of 2019[11]. - Revenue for the nine months ended September 30, 2020, was HK$13,992,000, a slight decrease from HK$14,372,000 in the same period of 2019, representing a decline of approximately 2.6%[37]. - Profit for the period attributable to equity holders of the Company for the nine months ended September 30, 2020, was HK$13,992,000, compared to HK$14,372,000 for the same period in 2019, indicating a decrease of about 2.6%[37]. - The basic earnings per share for the nine months ended September 30, 2020, was HK$17.49, compared to HK$17.96 for the same period in 2019, reflecting a decrease of approximately 2.6%[37]. Strategic Outlook - The company provided a positive outlook for the next quarter, projecting a revenue growth of 15% to 20%[4]. - Boltek Holdings is focusing on the development of new technologies, with an investment of HKD 5 million allocated for R&D in the upcoming year[4]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2021[4]. - Boltek Holdings is considering potential acquisitions to enhance its product offerings and market reach[4]. - The management highlighted the importance of strategic partnerships, aiming to establish at least two new collaborations by the end of the fiscal year[4]. - The company is also exploring new product launches, with at least three new products expected to be introduced in the next quarter[4]. - Overall, Boltek Holdings remains committed to enhancing shareholder value through strategic growth initiatives and operational efficiencies[4]. Corporate Governance - The Company has complied with the Corporate Governance Code throughout the nine months ended September 30, 2020, except as disclosed[72]. - Mr. Cheung Kwan Tar serves as both chairman and chief executive officer, providing strong leadership for effective planning and management[72]. - The Company is committed to enhancing corporate governance practices to increase transparency and accountability to shareholders[72]. - The Board will regularly review the need to separate the roles of chairman and chief executive officer to maintain good corporate governance[72]. - The Company has established an Audit Committee to review financial statements and internal controls, ensuring robust financial governance[77]. - The Company aims to enhance the confidence of shareholders and business partners through high standards of corporate governance practices[72]. - The Company has not noted any incidence of non-compliance regarding Directors' securities transactions for the nine months ended September 30, 2020[74]. Shareholder Information - As of September 30, 2020, Cheung Kwan Tar holds 426,000,000 shares, representing a 53.25% shareholding in the company[64]. - Chiu Chui Ping is deemed to be interested in 426,000,000 shares through her spouse, Cheung Kwan Tar, also reflecting a 53.25% shareholding[64]. - Cheng Chi Heng holds 58,800,000 shares, accounting for 7.35% of the company's total shares[66]. - Polar Lights Limited, controlled by Wong Che Shing, holds 57,600,000 shares, which is 7.20% of the total shares[66]. - Lam Mi Yung is deemed to be interested in 57,600,000 shares through her spouse, Wong Che Shing, representing 7.20%[66]. - As of September 30, 2020, no other directors or chief executives had interests or short positions in the company's shares[64]. - The company is not aware of any other person with an interest of 5% or more in the shares, aside from the disclosed substantial shareholders[69]. - The total number of shares held by substantial shareholders reflects a concentrated ownership structure, with the top shareholder holding over 50%[66]. Operational Efficiency - The Group aims to improve operational efficiency and profitability while expanding its customer base and market share[46]. - The Group is cautiously optimistic about its business outlook due to an increasing number of project quotation invitations received[46]. - The net proceeds from the Share Offer are expected to enhance the Group's operational capacity and market position in Hong Kong[46]. - Administrative expenses for the nine months ended September 30, 2020, increased to HK$18,866,000 from HK$16,561,000 in the same period of 2019[11]. - Administrative expenses increased to approximately HK$18.9 million, up by HK$2.3 million or 13.9% from HK$16.6 million in the same period of 2019[50]. - The Group's revenue is derived from engineering consultancy services, which are the primary source of turnover[27]. - The Group's business is regarded as a single operating segment, focusing on engineering consultancy services, with no segment analysis presented[32]. Audit and Compliance - The unaudited third quarterly results for the nine months ended 30 September 2020 have been reviewed by the Audit Committee, but not audited by independent auditors[78]. - The Audit Committee comprises three independent non-executive Directors, ensuring compliance with GEM Listing Rules[77]. - The Group's financial statements have been prepared using the principles of merger accounting in accordance with Hong Kong Accounting Guideline 5, reflecting the reorganisation that took place in August 2018[26]. - The Group has no potentially dilutive ordinary shares in issue during the three months and nine months ended September 30, 2020, and 2019, resulting in diluted earnings per share being equal to basic earnings per share[39].
宝燵控股(08601) - 2020 Q3 - 季度财报