Financial Performance - For the three months ended December 31, 2018, the company reported revenue of HKD 17,124 thousand, an increase from HKD 16,494 thousand in the same period of 2017, representing a growth of 4%[5] - The gross profit for the nine months ended December 31, 2018, was HKD 19,486 thousand, down 16% from HKD 23,341 thousand in the same period of 2017[5] - The company achieved a profit before tax of HKD 2,596 thousand for the three months ended December 31, 2018, compared to a loss of HKD 3,804 thousand in the same period of 2017[5] - The net profit for the nine months ended December 31, 2018, was HKD 914 thousand, a significant increase from HKD 275 thousand in the same period of 2017[5] - The company reported a basic and diluted earnings per share of HKD 0.23 for the three months ended December 31, 2018, compared to a loss per share of HKD 0.57 in the same period of 2017[5] - The total comprehensive income for the nine months ended December 31, 2018, was HKD 1,034 thousand, compared to HKD 197 thousand in the same period of 2017[7] - The company's profit attributable to owners for the nine months ended December 31, 2018, was HKD 2,253,000, compared to a loss of HKD 3,810,000 for the same period in 2017, marking a significant turnaround[36] - Basic earnings per share for the nine months ended December 31, 2018, was HKD 0.23, compared to a loss of HKD 0.57 for the same period in 2017[36] - The company reported a net profit of HKD 0.9 million for the nine months ended December 31, 2018, an increase of approximately 232.4% from HKD 0.3 million in the previous year[52] Revenue and Costs - The group reported unaudited consolidated revenue of HKD 49,563,000 for the nine months ended December 31, 2018, compared to HKD 52,214,000 for the same period in 2017, representing a decrease of approximately 5%[19] - Revenue decreased by approximately 5.1%, from HKD 52.2 million for the nine months ended December 31, 2017, to HKD 49.6 million for the same period in 2018[45] - Service costs increased by approximately 4.2%, from HKD 28.9 million to HKD 30.1 million for the same periods, primarily due to increased consulting subcontractor fees[46] - Gross profit decreased from HKD 23.3 million to HKD 19.5 million, resulting in a gross margin decline from approximately 44.7% to 39.3%[47] - General and administrative expenses rose by approximately 27.4%, from HKD 9.9 million to HKD 12.6 million, mainly due to salary increases and additional hiring[49] Equity and Financial Position - The company’s total equity as of December 31, 2018, was HKD 72,312 thousand, reflecting an increase from HKD 26,187 thousand at the end of 2017[7] - The current ratio improved significantly from approximately 2.4 times to 13.7 times, primarily due to increased cash from share issuance and reduced bank borrowings[55] - Total borrowings decreased by approximately 97.1%, from HKD 8.9 million to HKD 0.3 million as of December 31, 2018[55] - As of December 31, 2018, the group's bank borrowings amounted to HKD 255,000, with HKD 5,570,000 due within one year as of March 31, 2018[56] - The group maintained a stable liquidity position, with a total employee cost of approximately HKD 32.3 million for the nine months ended December 31, 2018, compared to HKD 30.9 million for the same period in 2017[70] Tax and Expenses - The group incurred a total tax expense of HKD 1,070,000 for the nine months ended December 31, 2018, compared to HKD 2,003,000 for the same period in 2017, indicating a decrease of approximately 46.4%[28] - Total employee costs for the nine months ended December 31, 2018, amounted to HKD 32,299,000, an increase from HKD 30,924,000 in the same period of 2017, reflecting a rise of about 4.4%[24] Corporate Governance and Compliance - The board of directors did not recommend the payment of dividends for the nine months ended December 31, 2018, consistent with the previous year[35] - The group has adopted all new and revised Hong Kong Financial Reporting Standards effective from April 1, 2018, without early application of any standards not yet effective[17] - The group’s accounting policies and methods for the nine months ended December 31, 2018, are consistent with those used in the previous financial period[17] - The company has complied with the corporate governance code as per GEM Listing Rules, with a noted deviation regarding insurance for directors[106] - The audit committee was established on August 27, 2018, to oversee the integrity of financial reporting and the independence of external auditors[111] Business Strategy and Operations - The company plans to continue expanding its structural and geotechnical engineering consulting services in the market[10] - The company has been focusing on enhancing its operational efficiency and exploring new market opportunities[10] - The company is committed to ongoing research and development of new technologies to improve service offerings[10] - The company plans to leverage its experienced management team and industry reputation to secure more consulting service contracts and expand market share[42] Employment and Share Capital - The group employed a total of 130 employees as of December 31, 2018, a slight decrease from 132 employees as of March 31, 2018[70] - The company’s issued share capital consists of 960,000,000 ordinary shares, with a nominal value of HKD 0.01 each, as of the report date[59] - The major shareholder, Wan Nian Real Estate Development Limited, holds approximately 49.07% of the company's total issued share capital, equating to 471,072,000 shares[96] - As of December 31, 2018, the company had a total of 960,000,000 issued shares, with significant ownership concentrated among key stakeholders[100] Other Information - The group had operating lease commitments of approximately HKD 5.4 million as of December 31, 2018, down from HKD 6.6 million as of March 31, 2018[60] - The net proceeds from the share issuance on September 17, 2018, amounted to approximately HKD 26.9 million, with HKD 1.2 million used for general working capital as of December 31, 2018[73] - The group had no significant contingent liabilities as of December 31, 2018[65] - There were no major acquisitions or disposals of subsidiaries or associated companies during the nine months ended December 31, 2018[64] - The company did not grant any share options during the nine months ending December 31, 2018, and there were no unexercised options as of that date[110] - No conflicts of interest were reported among directors or major shareholders as of December 31, 2018[101] - The company has not disclosed any new product developments or market expansion strategies in the provided documents[104] - The company has not engaged in any mergers or acquisitions during the reporting period[104]
WAC HOLDINGS(08619) - 2019 Q3 - 季度财报