Financial Performance - For the nine months ended September 30, 2021, the group recorded unaudited revenue of approximately HKD 8.8 million, a significant decrease of about HKD 7.3 million or 45.3% compared to HKD 16.1 million for the same period in 2020[5] - The unaudited loss attributable to owners of the company for the nine months ended September 30, 2021, was approximately HKD 14.1 million, a reduction of about 19.0% from a loss of HKD 17.4 million in the same period of 2020[5] - Basic and diluted loss per share for the nine months ended September 30, 2021, was HKD 1.17, compared to HKD 1.45 for the same period in 2020[5] - The group reported a gross profit of HKD 2.145 million for the nine months ended September 30, 2021, down from HKD 2.347 million in the same period of 2020[9] - The total comprehensive loss for the nine months ended September 30, 2021, was HKD 13.870 million, compared to HKD 17.453 million for the same period in 2020[9] - The group experienced a pre-tax loss of HKD 14.056 million for the nine months ended September 30, 2021, compared to a pre-tax loss of HKD 17.448 million in the same period of 2020[9] - Other income and gains for the nine months ended September 30, 2021, amounted to HKD 908, down from HKD 1.154 million in the same period of 2020[9] - The group reported a financing cost of HKD 389 thousand for the nine months ended September 30, 2021, compared to HKD 158 thousand for the same period in 2020, reflecting an increase of approximately 146.2%[9] - Total revenue for the nine months ended September 30, 2021, was HKD 8,845,000, a decrease of 45% compared to HKD 16,087,000 for the same period in 2020[33] - Total revenue for the travel segment was HKD 6,533,000 for the nine months ended September 30, 2021, down 54.2% from HKD 14,275,000 in the same period of 2020[38] - The automotive segment generated revenue of HKD 2,312,000 for the nine months ended September 30, 2021, an increase of 27.6% from HKD 1,812,000 in the same period of 2020[38] Expenses and Costs - Administrative expenses for the nine months ended September 30, 2021, were HKD 17.236 million, compared to HKD 19.575 million for the same period in 2020, indicating a decrease of approximately 11.9%[9] - Sales costs reduced by approximately 51.1%, from about HKD 13.7 million to about HKD 6.7 million during the same periods[58] - Gross profit for the nine months ended September 30, 2021, was approximately HKD 2.1 million, down about 8.7% from HKD 2.3 million for the same period in 2020[59] - Other income and gains decreased from about HKD 1.2 million to about HKD 0.9 million, primarily due to a reduction in government subsidies received[61] - Administrative expenses decreased by approximately 12.2%, from about HKD 19.6 million to about HKD 17.2 million, mainly due to reductions in employee benefits and depreciation expenses[62] Dividends and Shareholder Information - The board of directors decided not to recommend the payment of an interim dividend for the nine months ended September 30, 2021[6] - The group did not recommend any interim dividend for the nine months ended September 30, 2021, consistent with the previous year[53] - As of September 30, 2021, the chairman and CEO, Mr. Cai Weizhen, holds a 75% stake in the company through Silver Esteem Limited, which owns 900,000,000 shares[110] - As of September 30, 2021, Silver Esteem Limited holds 900,000,000 ordinary shares, representing 75.0% ownership in the company[113] - Mr. Cai Weizhen is the sole beneficial owner of Silver Esteem Limited, which is registered in the British Virgin Islands[113] - No share options were granted, agreed to be granted, exercised, cancelled, or lapsed under the share option scheme as of September 30, 2021[115] Risk Management - The group is subject to financial risks including credit risk, cash flow and fair value interest rate risk, and liquidity risk, which are detailed in the annual financial statements[27] - The group has not made significant changes to its risk management policies since December 31, 2020[28] - The group observed a continued risk to its operations due to potential travel restrictions and low consumer sentiment affecting visitor numbers to Macau[80] - The group has noted that its revenue is primarily derived from Macau, making it sensitive to changes in policies and economic conditions in the region[81] - The group has faced risks related to delayed payments from customers, which may impact its operational costs[82] - The group does not face significant foreign exchange risks due to its operations primarily in Macau, with most transactions settled in Macanese Patacas and Hong Kong Dollars[98] Strategic Initiatives - The group plans to expand its tourism business into China and has acquired a travel agency in China as part of its diversification strategy[76] - The group aims to collaborate with concert organizers based on market demand in China and Macau[74] - The strategic goal is to strengthen the group's market position in the Macau tourism industry and seek partnerships with more hotel operators and travel agencies to increase market share[99] - The group plans to expand its hotel room inventory and attract business travelers and high-spending customers, which is expected to drive higher sales and revenue from related services[99] - The group has entered into a hotel management service agreement with Huadu Hotel Limited, allowing exclusive control over hotel room pricing and distribution, expected to provide stable income[102] - The board anticipates that the gradual reopening of the border between China and Macau will lead to an increase in visitor numbers, improving the group's business performance[99] - The group will continue to explore new hotel business opportunities and implement cost control measures until market conditions improve[100] Financial Position - As of September 30, 2021, the group's cash and cash equivalents totaled approximately HKD 15.1 million, a decrease from HKD 19.4 million a year earlier, primarily due to operational support during the pandemic[89] - The total borrowings and lease liabilities amounted to approximately HKD 11.0 million as of September 30, 2021, down from HKD 11.9 million as of June 30, 2021[91] - The group’s asset-liability ratio was approximately 18.6% as of September 30, 2021, unchanged from June 30, 2021[93] - The group has pledged bank deposits of approximately HKD 4.0 million as collateral for general banking facilities and guarantees to suppliers[92] - As of September 30, 2021, the group had no significant capital commitments related to contracted acquisitions of properties, plants, and equipment, unchanged from June 30, 2021[95] - The group reported no significant contingent liabilities as of September 30, 2021, similar to the previous year[97] Audit and Compliance - The group’s financial statements for the nine months ended September 30, 2021, have not been audited by the group’s auditors[25] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the nine months ended September 30, 2021, and found them compliant with applicable accounting standards[119] - There were no significant events requiring disclosure after September 30, 2021, up to the report date[118]
瀛海集团(08668) - 2021 Q3 - 季度财报