Financial Performance - The Group recorded a revenue of approximately HK$75.5 million for the three months ended 30 June 2020, representing a decrease of approximately HK$19.6 million or 20.6% compared to HK$95.1 million for the same period in 2019[8]. - The Group's gross profit margin decreased from approximately 5.4% for the three months ended 30 June 2019 to approximately 2.6% for the three months ended 30 June 2020[8]. - The Group recorded a profit and total comprehensive income of approximately HK$0.6 million for the three months ended 30 June 2020, a decrease of approximately HK$2.3 million compared to HK$2.9 million for the same period in 2019[8]. - Profit before taxation for the three months ended 30 June 2020 was approximately HK$0.641 million, down from HK$3.08 million for the same period in 2019[11]. - Earnings per share for the three months ended 30 June 2020 were HK$0.16, compared to HK$0.73 for the same period in 2019[11]. - The Group's net profit decreased by approximately HK$2.3 million, from approximately HK$2.9 million for the three months ended 30 June 2019 to approximately HK$0.6 million for the three months ended 30 June 2020, resulting in a net profit margin decline from 3.1% to 0.8%[90]. - The Group's income tax expenses decreased by approximately HK$151 thousand or 95.0%, from approximately HK$159 thousand for the three months ended 30 June 2019 to approximately HK$8 thousand for the three months ended 30 June 2020[79]. Revenue Breakdown - Revenue for the three months ended June 30, 2020, was HK$75,472,000, a decrease of 20.7% compared to HK$95,106,000 for the same period in 2019[30]. - Sales of diesel oil amounted to HK$75,303,000, down 20.8% from HK$94,878,000 in the previous year[30]. - Revenue from the sales of diesel oil accounted for approximately HK$75.3 million, representing approximately 99.8% of the Group's total revenue for the three months ended 30 June 2020[57]. - The sales quantity of diesel oil increased by approximately 45.2% from 21.0 million litres to 30.4 million litres for the same periods[62]. - The average selling price of diesel oil decreased by approximately 45.3% from HK$4.53 per litre to HK$2.48 per litre[63]. - The ancillary transportation service revenue increased to HK$75,000, up 114.3% from HK$35,000 in the previous year[30]. - Ancillary transportation service income was approximately HK$75 thousand for the three months ended 30 June 2020, compared to HK$35 thousand for the same period in 2019[58]. Cost and Expenses - The cost of sales for the three months ended 30 June 2020 was approximately HK$73.5 million, compared to HK$89.9 million for the same period in 2019[11]. - The group's cost of sales was approximately HK$73.5 million, representing a decrease of 18.3% from HK$90.0 million for the same period in 2019[65]. - The gross profit decreased by approximately HK$3.1 million or 60.8% to approximately HK$2.0 million, with a gross profit margin decline from 5.4% to 2.6%[74]. - Administrative expenses for the three months ended 30 June 2020 were approximately HK$1.981 million, a decrease from HK$2.307 million for the same period in 2019[11]. - Administrative and other operating expenses decreased by approximately HK$0.3 million or 13.0% to approximately HK$2.0 million for the three months ended June 30, 2020[75]. - The unit purchase cost of diesel oil decreased by 44.2% from approximately HK$4.23 per litre to approximately HK$2.36 per litre[66]. - Direct labour costs remained stable at approximately HK$0.6 million for both periods[72]. Corporate Governance and Compliance - The Group's financial statements are prepared in accordance with Hong Kong Financial Reporting Standards (HKFRSs) and are unaudited for the period[20]. - The Group's accounting policies remain consistent with those adopted in the preparation of the annual financial statements for the year ended March 31, 2020[26]. - The adoption of new/revised HKFRSs has no material impact on the Group's results and financial position for the current or prior periods[27]. - The company has established an Audit Committee comprising three independent non-executive Directors, ensuring compliance with GEM Listing Rules[126]. - The unaudited Condensed Consolidated Financial Statements have been reviewed by the Audit Committee and deemed compliant with applicable accounting standards and GEM Listing Rules[127]. - The Nomination Committee has reviewed the structure, size, and composition of the Board, discussing matters regarding the retirement and re-election of Directors[134]. - The Remuneration Committee recommends Directors' remuneration based on market benchmarking and individual performance[137]. - The company confirms that all Directors complied with the required standard of dealings regarding securities transactions as of the report date[144]. - The company is committed to maintaining high corporate governance standards and has complied with the Corporate Governance Code since the Listing Date[145]. - The company has adopted a code of conduct for directors' securities transactions that meets or exceeds GEM Listing Rules standards[148]. - The company will continue to review and improve its corporate governance practices and standards[149]. 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 the challenging market outlook[55]. - The group will strengthen cost control and seek potential business developments to expand revenue sources and increase shareholder value[59]. - The management considers that there are no significant events subsequent to 30 June 2020 that would materially affect the financial performance and operation of the Group[81]. Shareholder Information - The Board does not recommend the payment of any dividend for the three months ended 30 June 2020[8]. - As of June 30, 2020, Mr. Law Ming Yik holds a long position of 251,110,000 shares, representing 62.78% of the company's issued share capital[109]. - Fully Fort Group Limited, wholly owned by Mr. Law, is the beneficial owner of 251,110,000 shares, also accounting for 62.78% of the company's issued share capital[114]. - There were no purchases, sales, or redemptions of the company's listed securities as of June 30, 2020[105]. - No options were granted, exercised, lapsed, or cancelled under the Share Option Scheme during the reporting period, and there were no outstanding share options as of June 30, 2020[118]. - The company has not been notified of any interests or short positions in shares that require disclosure under the relevant regulations as of June 30, 2020[116]. - The company has not disclosed any new products, technologies, market expansions, or acquisitions during the reporting period[119].
裕丰昌控股(08631) - 2021 Q1 - 季度财报