Financial Performance - The company's revenue for the nine months ended March 31, 2020, was approximately RM 27.98 million, a decrease of 7.9% compared to RM 30.37 million in the same period last year[11]. - Gross profit for the same period decreased by 24.4% to approximately RM 9.97 million, down from RM 13.20 million year-on-year[12]. - The net profit for the nine months was approximately RM 0.85 million, a significant decline of 90.9% from RM 9.35 million in the previous year[12]. - Excluding listing expenses and tax credits, the adjusted net profit was approximately RM 6.44 million, representing a decrease of 29.7% compared to RM 9.17 million in the prior year[12]. - Basic earnings per share for the period was 0.31 sen, down from 0.75 sen in the same period last year[15]. - Total comprehensive income attributable to owners of the company for the period was RM 1.77 million, compared to RM 3.27 million in the previous year[15]. - The company reported a significant drop in operating profit before tax, which was RM 2.15 million for the nine months, down from RM 6.74 million in the same period last year[16]. - The total profit and comprehensive income decreased from approximately MYR 9.4 million for the nine months ended March 31, 2019, to approximately MYR 0.9 million for the nine months ended March 31, 2020, a decline of about 90.4%[102]. - Excluding expenses related to the listing of approximately MYR 4.3 million, the total profit and comprehensive income for the nine months ended March 31, 2020, would be approximately MYR 5.2 million compared to approximately MYR 11.8 million for the nine months ended March 31, 2019[102]. Revenue Breakdown - Revenue from network management and security services for the nine months ended March 31, 2020, was RM 3,686,701, down from RM 6,192,421 in the same period of 2019, reflecting a decrease of about 40.6%[57]. - Revenue from network connection services for the nine months ended March 31, 2020, was RM 14,765,548, slightly up from RM 14,680,702 in the same period of 2019, indicating a marginal increase of approximately 0.6%[57]. - Revenue from on-site hardware installation decreased by approximately 3.4 million MYR or 70.8%, from about 4.8 million MYR to about 1.4 million MYR[91]. - Revenue from network support services decreased by approximately 15.9%, while revenue from network connection services increased by approximately 0.7% during the same period[89]. - The total revenue from customer contracts, including revenue from leased hardware, was RM 8,401,121 for the three months ended March 31, 2020, compared to RM 8,654,452 in the same period of 2019, a decrease of approximately 2.9%[57]. Expenses and Costs - The company incurred listing expenses of RM 4.29 million during the nine months, which impacted overall profitability[16]. - Administrative expenses increased by approximately 1.1 million MYR or 32.4%, from about 3.4 million MYR to about 4.5 million MYR[98]. - Financing costs for the three months ended March 31, 2020, were MYR 130,354, an increase of 24.6% from MYR 104,605 in the same period of 2019[67]. - Sales and service costs increased by approximately 0.8 million MYR or 4.7%, from about 17.2 million MYR to about 18.0 million MYR[92]. Other Income and Tax - Other income for the nine months was RM 586,748, compared to RM 64,292 in the previous year, indicating a notable increase[16]. - The total tax expense for the nine months ended March 31, 2020, was MYR 1,439,384, compared to a tax credit of MYR (136,534) in the same period of 2019[72]. - The income tax expense changed from a tax credit of approximately MYR 2.6 million for the nine months ended March 31, 2019, to an income tax expense of approximately MYR 1.3 million for the nine months ended March 31, 2020[100]. Corporate Governance and Structure - The audit committee consists of three independent non-executive directors as of March 31, 2020, ensuring robust oversight of financial reporting and compliance with GEM listing rules[118]. - The company has adopted and complied with the corporate governance code since its listing on December 9, 2019, with some deviations noted regarding the separation of roles between the chairman and CEO[122]. - The board believes that the current management structure, with the chairman also serving as CEO, is in the best interest of the group for effective management and business planning[122]. Future Outlook and Strategy - The company is focused on improving operational efficiency and exploring new market opportunities to enhance future performance[12]. - The company is focused on expanding its market presence through strategic initiatives, including potential mergers and acquisitions in the technology sector[27]. - The company is focusing on expanding its information and communication services to respond to market demands[87]. - The company anticipates challenges in the coming years due to current economic instability affecting multiple markets[84]. - The report includes forward-looking statements regarding the group's financial condition and operational performance, acknowledging potential risks and uncertainties[128].
比特元宇宙(08645) - 2020 Q3 - 季度财报