Financial Performance - The Group recorded a revenue of approximately HK$299.4 million for the nine months ended 31 December 2019, representing a decrease of approximately HK$76.1 million or 20.3% compared to HK$375.5 million for the same period in 2018[8]. - The profit attributable to the owners of the Company was approximately HK$4.2 million for the nine months ended 31 December 2019, a decrease of approximately HK$2.6 million or 38.2% from HK$6.8 million for the same period in 2018[8]. - For the three months ended 31 December 2019, the Group's revenue was HK$95.4 million, down from HK$127.6 million for the same period in 2018, representing a decrease of approximately 25.3%[11]. - The total comprehensive income for the nine months ended 31 December 2019 was HK$4.2 million, down from HK$6.8 million for the same period in 2018[12]. - The Group's gross profit margin decreased from approximately 4.3% for the nine months ended 31 December 2018 to approximately 3.8% for the nine months ended 31 December 2019[8]. - The Group's gross profit decreased by approximately HK$5.1 million or 31.3%, from approximately HK$16.3 million for the nine months ended 31 December 2018, to approximately HK$11.2 million for the nine months ended 31 December 2019[95]. - The net profit margin for the nine months ended 31 December 2019 was 1.4%, compared to 1.8% for the same period in 2018[96]. Revenue Breakdown - Revenue from diesel oil sales for the three months ended December 31, 2019, was HK$93,157,000, a decrease from HK$127,423,000 in the same period of 2018[52]. - Total revenue for the nine months ended December 31, 2019, was HK$299,381,000, compared to HK$375,477,000 for the same period in 2018, indicating a decline[52]. - Revenue from diesel oil sales accounted for approximately HK$296.7 million, representing approximately 99.1% of the Group's total revenue for the nine months ended December 31, 2019[76]. - The sales quantity of diesel oil decreased by approximately 11.7% from 76.8 million litres to 67.8 million litres during the same period[80]. - The average selling price of diesel oil decreased by approximately 10.2% from HK$4.88 per litre to HK$4.38 per litre[81]. - The Group recognized sales of steam coal amounting to HK$2,033,000 for the nine months ended December 31, 2019, with no sales recorded in the previous year[52]. - Ancillary transportation service revenue for the nine months ended December 31, 2019, was HK$133,000, up from HK$34,000 in the same period of 2018[52]. Cost and Expenses - The Group's cost of sales was approximately HK$288.1 million, representing a decrease of 19.8% from HK$359.2 million for the nine months ended December 31, 2018[87]. - The largest component of the cost of sales was diesel oil cost, which amounted to approximately HK$281.8 million, representing approximately 97.8% of the cost of sales for the nine months ended December 31, 2019[88]. - The average unit purchase cost of diesel oil decreased by 10.0% from approximately HK$4.62 per litre to approximately HK$4.16 per litre[88]. - The Group's finance costs for the nine months ended 31 December 2019 totaled HK$92,000, a decrease from HK$174,000 in the same period of 2018[55]. - Total staff costs for the nine months ended December 31, 2019, amounted to approximately HK$4.8 million, an increase from approximately HK$4.1 million for the same period in 2018[108]. Corporate Governance - The Company has complied with the Corporate Governance Code since its Listing Date up to December 31, 2019, maintaining high corporate governance standards[160]. - The Company has established a Remuneration Committee on December 11, 2018, comprising two independent non-executive Directors and one executive Director, to review and approve remuneration proposals for all Directors and senior management[151]. - The Remuneration Committee determines Directors' remuneration based on market benchmarking and individual performance, ensuring no Director determines their own remuneration[153]. - The Company confirms that all Directors complied with the required standard of dealings regarding securities transactions as of the date of this report[159]. - The Company has appointed a compliance advisor, ensuring independence and compliance with GEM Listing Rules[144]. Future Outlook and Strategy - The Group will reinforce cost control and continue to enhance service capabilities, expand network presence, and diversify its customer base in response to market challenges[74]. - The demand for diesel oil in the construction sector is expected to remain stable due to ongoing construction works[73]. - The Group has purchased two new diesel tank wagons, which became available for use in October 2019, and has ordered two additional wagons expected to be delivered by March 2020[105]. - The actual use of net proceeds from the Share Offer amounted to approximately HK$11.5 million, with HK$23.3 million remaining unused as of December 31, 2019[104]. - The Group's planned use of net proceeds includes 43.1% for purchasing diesel tank wagons and 35.9% for expanding manpower[104]. Shareholder Information - As of December 31, 2019, Mr. Law holds a 75% interest in the company through Fully Fort Group Limited, which owns 300,000,000 shares[123]. - Fully Fort Group Limited is the beneficial owner of 300,000,000 shares, representing 75% of the company's issued share capital[131]. - The company has 40,000,000 shares available for issue under the share option scheme, which represents 10% of the existing issued share capital as of December 31, 2019[134]. - No share options were granted from the adoption date of the share option scheme until December 31, 2019, and there were no outstanding share options as of that date[134]. Audit and Compliance - The Group's financial statements for the three months and nine months ended December 31, 2019, are unaudited but reviewed by the Audit Committee[16]. - The Audit Committee reviewed the unaudited Condensed Consolidated Financial Statements for the six months ended September 30, 2019, confirming compliance with applicable accounting standards and GEM Listing Rules[142]. - There are no competing interests reported by the directors or controlling shareholders during the reporting period[135]. - The Company has not been notified of any interests or short positions in shares or debentures that require disclosure under the SFO as of December 31, 2019[133].
裕丰昌控股(08631) - 2020 Q3 - 季度财报