Financial Performance - For the nine months ended December 31, 2019, the company reported revenue of HKD 67,931,000, a decrease of 16.8% compared to HKD 81,713,000 for the same period in 2018[5]. - The gross profit for the nine months was HKD 21,163,000, down 9.3% from HKD 23,343,000 in the previous year[5]. - The company incurred a loss of HKD 627,000 for the nine months, compared to a loss of HKD 10,174,000 in the same period of 2018, indicating a significant improvement[5]. - The basic and diluted loss per share for the nine months was HKD (0.01), compared to HKD (1.24) for the same period in 2018[5]. - The total comprehensive loss for the nine months was HKD 846,000, a significant improvement from a total comprehensive loss of HKD 11,082,000 in 2018[7]. - The company reported administrative expenses of HKD 13,286,000 for the nine months, a decrease from HKD 13,286,000 in the previous year[5]. - The company’s total other income, including foreign exchange gains, was HKD 14,641,000 for the nine months ended December 31, 2019, down from HKD 18,021,000 in the same period of 2018[36]. - The company’s total revenue for the three months ended December 31, 2019, was HKD 25,675,000, an increase from HKD 23,760,000 in the same period of 2018[36]. - The company reported financing costs related to financial liabilities amounted to HKD 466,000 for the nine months ended December 31, 2019, compared to HKD 132,000 for the same period in 2018, indicating a 253% increase[41]. - The company incurred a tax expense of HKD 1,124,000 for the nine months ended December 31, 2019, down from HKD 1,861,000 in the same period of 2018, reflecting a 40% decrease[41]. Market and Strategic Initiatives - The company is exploring new strategies for market expansion and product development to enhance future performance[5]. - The company continues to face challenges in the GEM market, which is characterized by higher investment risks and volatility[3]. - The company continues to focus on its core business of investment holding and merchant acquiring services in Thailand, with ongoing assessments of market expansion opportunities[25]. - The company has begun supporting Alipay and WeChat Pay to capture the growing number of Chinese tourists in Thailand[61]. Shareholder and Governance Information - The company did not declare any dividends for the period, maintaining a focus on reinvestment[10]. - The board does not recommend the payment of dividends for the period[73]. - As of December 31, 2019, major shareholders included Mei Ya with 525 million shares (52.50%) and Straum Investments with 157.5 million shares (15.75%)[79]. - Following a placement event, Mei Ya's shareholding decreased to 325 million shares (32.5%), but it remained the controlling shareholder[82]. - The board believes that the current governance structure effectively supervises management and allows timely decision-making[87]. - There were no interests held by directors or their associates in any competing businesses as of December 31, 2019[89]. - The company has established a compliance advisory agreement with Prosperous Finance Limited to ensure adherence to applicable laws and GEM listing rules[92]. Compliance and Audit - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated financial statements for the nine months ended December 31, 2019, confirming compliance with applicable accounting standards[96]. - No share options have been granted since the adoption of the share option scheme on September 18, 2018, and there were no outstanding share options as of December 31, 2019[95]. Other Financial Metrics - Employee costs, including salaries and other short-term employee benefits, increased to HKD 7,335,000 for the nine months ended December 31, 2019, up from HKD 3,057,000 in the same period of 2018, representing a 140% increase[45]. - The company recognized rental liabilities of approximately HKD 1,354,000 upon adopting HKFRS 16, which replaced HKAS 17, reflecting the present value of future lease payments[34]. - The company recognized an intangible asset amortization of HKD 284,000 for the nine months ended December 31, 2019, compared to HKD 207,000 in the same period of 2018, representing a 37% increase[41]. - The company’s depreciation of property, plant, and equipment was HKD 3,444,000 for the nine months ended December 31, 2019, compared to HKD 2,900,000 in the same period of 2018, indicating an 18% increase[41]. - The group maintained a prudent financial management policy and a robust liquidity position throughout the period[74]. - As of December 31, 2019, the group had outstanding foreign exchange forward contracts amounting to $5.5 million, equivalent to approximately HK$43.2 million[75]. - There were no significant investments, acquisitions, or disposals by the group during the reporting period[76]. - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[86].
东方支付集团控股(08613) - 2020 Q3 - 季度财报