Financial Performance - For the nine months ended December 31, 2020, the group's revenue was approximately HKD 119.7 million, a decrease of about 13.6% compared to HKD 138.6 million for the same period in 2019[5] - Gross profit for the nine months ended December 31, 2020, was approximately HKD 41.6 million, down approximately 28.2% from HKD 57.9 million for the same period in 2019[5] - Net profit decreased from approximately HKD 16.8 million for the nine months ended December 31, 2019, to approximately HKD 7.4 million for the same period in 2020[6] - Basic and diluted earnings per share for the nine months ended December 31, 2020, were approximately HKD 0.76, compared to HKD 2.24 for the same period in 2019[6] - Total comprehensive income for the nine months ended December 31, 2020, was HKD 7.4 million, down from HKD 16.8 million for the same period in 2019[7] - The company reported a pre-tax profit of HKD 10.9 million for the nine months ended December 31, 2020, compared to HKD 21.6 million for the same period in 2019[7] Revenue Breakdown - Contract revenue from residential buildings for the nine months was HKD 24,039,000, down 37.9% from HKD 38,681,000 in 2019[17] - Revenue from community facilities increased significantly to HKD 34,893,000 for the nine months, compared to HKD 14,444,000 in 2019, representing a growth of 141.5%[17] - Revenue from construction protection engineering was HKD 77.2 million for the nine months ended December 31, 2020, down from HKD 87.1 million in the same period of 2019, primarily due to delays in private projects caused by the COVID-19 pandemic[36] - The company’s total confirmed revenue from construction protection products was HKD 42.5 million for the nine months ended December 31, 2020, down from HKD 51.5 million in the same period of 2019[34] - Revenue from construction protection products decreased from approximately HKD 51.5 million for the nine months ended December 31, 2019, to approximately HKD 42.5 million for the same period in 2020, a decline of about 17.5%[37] - The company’s public project revenue increased significantly to HKD 49.6 million for the nine months ended December 31, 2020, from HKD 30.0 million in the same period of 2019[35] Expenses and Costs - Administrative expenses for the nine months ended December 31, 2020, were HKD 27.1 million, an increase from HKD 24.0 million for the same period in 2019[7] - Total employee costs increased to HKD 27.7 million for the nine months ended December 31, 2020, from HKD 19.8 million in the same period of 2019, reflecting a rise of approximately 39.9%[22] - Selling and distribution costs rose from approximately HKD 4.1 million to approximately HKD 4.9 million, an increase of about 19.5%[42] - The interest expense on lease liabilities for the nine months was HKD 84,000, an increase from HKD 43,000 in 2019[21] - The company’s tax expense for the nine months ended December 31, 2020, was HKD 3.4 million, down from HKD 4.8 million in the same period of 2019[23] Other Income and Financial Activities - The company recorded other income of HKD 1.9 million for the nine months ended December 31, 2020, compared to HKD 0.1 million for the same period in 2019[7] - Other income for the nine months included government subsidies totaling HKD 1,715,000, which was not recorded in the same period of 2019[19] - The company’s total other income for the nine months was HKD 1,921,000, compared to HKD 131,000 in the previous year[19] - The net proceeds from the IPO amount to approximately HKD 21.6 million, with planned uses including purchasing additional machinery and equipment, expanding workforce, and enhancing financial stability[50] - Approximately 31.0% of the net proceeds will be used to strengthen the group's financial position to cover prior costs[51] Corporate Governance and Structure - The company completed a group restructuring on March 29, 2019, and was listed on the GEM of the Hong Kong Stock Exchange on March 31, 2020[11] - The company has adhered to the corporate governance code as per GEM listing rules, except for the deviation in A.2.1 regarding the roles of the Chairman and CEO[70] - The audit committee was established on March 18, 2020, and has reviewed the financial reporting processes, risk management, and internal controls, confirming the financial statements for the nine months ending December 31, 2020, were prepared in accordance with applicable accounting standards[73] - The compliance advisor has no interests in the company that need to be disclosed under GEM listing rules as of December 31, 2020[72] Impact of COVID-19 - The impact of the COVID-19 pandemic has caused delays in construction projects, affecting the group's operational and financial performance[54] - The group is taking measures to ensure employee safety, including regular disinfection, mask-wearing, and temperature checks[55] - The group has not faced any shortages or difficulties in the supply of construction protection products[54] Shareholding and Equity - The total equity as of December 31, 2020, was approximately HKD 166.2 million, reflecting an increase from HKD 120.9 million as of December 31, 2019[9] - Mr. Lin holds a 75% equity interest in the company through Ultra Success, a company he fully owns[60] - The shareholding structure indicates that Mr. Lin's spouse, Ms. Wang, also holds a 75% equity interest due to their relationship[60] - As of December 31, 2020, there are no unexercised share options under the company's share option plan[65] - The company has not purchased, sold, or redeemed any of its listed securities since its listing date[66]
新威工程集团(08616) - 2021 Q3 - 季度财报