Financial Performance - For the nine months ended September 30, 2019, the total revenue of Kinetix Systems Holdings Limited was approximately HKD 123.7 million, an increase of about 13.4% compared to the same period in 2018[7]. - The gross profit for the same period was approximately HKD 26.4 million, reflecting a growth of about 6.5% year-on-year[8]. - The net profit recorded for the nine months was approximately HKD 2.6 million[9]. - The total comprehensive loss for the nine months was HKD 3.1 million, compared to a loss of HKD 14.3 million in the same period of 2018[12]. - The company reported a net profit of HKD 2,719,000 for the period, compared to a loss of HKD 14,504,000 in the previous period, indicating a significant turnaround[15]. - The total comprehensive loss for the period was HKD 14,504,000, which was a decrease from the previous comprehensive loss, showing improved financial performance[15]. - For the three months ended September 30, 2019, the company's revenue was HKD 33,779 thousand, a 67.5% increase compared to HKD 20,233 thousand for the same period in 2018[29]. - For the nine months ended September 30, 2019, total revenue reached HKD 123,676 thousand, up 13.4% from HKD 109,082 thousand in the same period of 2018[29]. - The group recorded a profit of approximately HKD 2.6 million in the 2019 quarter, compared to a loss of approximately HKD 14.5 million in the 2018 quarter[67]. Expenses and Costs - The sales cost for the nine months was HKD 97.3 million, up from HKD 84.3 million in the previous year[12]. - The administrative and general expenses for the nine months were HKD 19.2 million, compared to HKD 20.1 million in the same period of 2018[12]. - Selling expenses for the 2019 quarter were approximately HKD 4.4 million, an increase of about HKD 0.5 million or 12.8% compared to approximately HKD 3.9 million in the 2018 quarter[65]. - Administrative expenses decreased by approximately HKD 0.9 million or 4.5% to about HKD 19.2 million in the 2019 quarter, down from approximately HKD 20.1 million in the 2018 quarter[66]. - The total income tax expense for the nine months ended September 30, 2019, was HKD 470,000, compared to HKD 247,000 for the same period in 2018[42]. Dividends and Shareholder Information - The board of directors did not recommend the payment of a quarterly dividend for the nine months ended September 30, 2019[10]. - The company did not recommend the payment of a quarterly dividend for the nine months ended September 30, 2019, consistent with the previous year[44]. - No dividends were declared for the nine months ending September 30, 2019[96]. - The major shareholder, Vigorous King Limited, holds approximately 75% of the company's shares[88]. Market and Operational Strategy - Kinetix Systems Holdings Limited is focused on expanding its market presence and enhancing its product offerings[12]. - The company plans to expand its market presence and enhance its product offerings through new technology developments[29]. - The company aims to improve operational efficiency and reduce costs through strategic initiatives in the upcoming quarters[29]. - The company anticipates challenges in the global business environment due to recent protests in Hong Kong and uncertainties from the US-China trade dispute, which may impact order intake and pricing[61]. - The company will strategically manage business risks and develop its operations to mitigate the impact of these challenges[61]. Assets and Liabilities - As of September 30, 2019, total equity amounted to HKD 89,342,000, an increase from HKD 81,247,000 as of January 1, 2018, reflecting a growth of approximately 10.6%[15]. - The company recognized right-of-use assets amounting to HKD 5,479,000 and lease liabilities of HKD 6,162,000 as of January 1, 2019, following the adoption of HKFRS 16[22]. - The weighted average incremental borrowing rate applied to lease liabilities was 4.12%[22]. - The total reserves as of September 30, 2019, were HKD 10,000, indicating stability in the company's financial position[15]. - As of September 30, 2019, the group had cash and cash equivalents of approximately HKD 68.6 million, an increase from approximately HKD 63.4 million as of December 31, 2018[69]. - The group's debt-to-equity ratio was zero as of September 30, 2019, consistent with December 31, 2018[69]. - The group did not engage in any bank borrowings during the 2019 quarter[69]. - The company had minimum unfulfilled commitments under non-cancellable operating leases of HKD 5.8 million as of September 30, 2019[52]. Employee and Management Information - The total remuneration for key management personnel was HKD 8.65 million for the three months ended September 30, 2019, down from HKD 14.5 million for the same period in 2018[41]. - Employee costs totaled approximately HKD 27.10 million for the quarter, consistent with the previous year's figure[92]. - The company has a total of 89 employees as of September 30, 2019, an increase from 85 employees a year earlier[92]. Compliance and Reporting - The financial statements were prepared in accordance with HKFRS 34 and GEM listing rules, ensuring compliance with applicable disclosure requirements[17]. - The company’s registered office is located in the Cayman Islands, emphasizing its status as an exempted company[16]. - The company has not disclosed any significant events after the reporting period[98]. - The company has not made any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the quarter[91]. - The company has adopted a share option scheme, but no options were granted, exercised, or cancelled under this scheme from its adoption date until September 30, 2019[80]. - The net proceeds from the IPO amounted to approximately HKD 34.10 million, with HKD 6.77 million utilized as of September 30, 2019[82]. - The company allocated HKD 9.15 million for providing cloud computing and IoT products, with no amount utilized yet[82].
倢冠控股(08606) - 2019 Q3 - 季度财报