Financial Performance - The Group's revenue decreased by 20.4% from approximately HK$96.5 million for the nine months ended 31 December 2020 to approximately HK$76.8 million for the nine months ended 31 December 2021[9]. - The Group's gross profit decreased by 25.8% from approximately HK$35.8 million for the nine months ended 31 December 2020 to approximately HK$26.6 million for the nine months ended 31 December 2021, with a gross profit margin decline from 37.1% to 34.6%[9]. - The profit of the Group decreased by 74.0% from approximately HK$16.7 million for the nine months ended 31 December 2020 to approximately HK$4.3 million for the same period ended 31 December 2021[9]. - The Group reported a revenue of HK$25.1 million for the three months ended 31 December 2021, compared to HK$32.6 million for the same period in 2020, indicating a decline[12]. - The operating profit for the nine months ended 31 December 2021 was approximately HK$5.8 million, down from HK$20.1 million for the same period in 2020[12]. - The profit before income tax for the nine months ended 31 December 2021 was approximately HK$5.6 million, down from HK$19.8 million for the same period in 2020[12]. - The Group's other income for the nine months ended 31 December 2021 was approximately HK$0.2 million, compared to HK$1.5 million for the same period in 2020[12]. - Total comprehensive income for the period attributable to owners of the Company was HK$387,991 for the three months ended 31 December 2021, down from HK$5,539,221 in the same period of 2020[16]. - Total comprehensive income for the nine months ended 31 December 2021 was HK$4,347,685, compared to HK$16,793,736 for the same period in 2020[16]. - The Company reported a profit of HK$4,411,544 for the nine months ended 31 December 2021, compared to HK$16,775,127 for the same period in 2020[19]. Dividends and Shareholder Returns - The Board does not recommend the payment of interim dividend for the nine months ended 31 December 2021, compared to no dividend in 2020[9]. - The Company declared a dividend of HK$6,000,000 during the nine months ended 31 December 2021[19]. - No dividend was recommended for the nine months ended 31 December 2021, consistent with the previous year[44]. - The Board does not recommend the payment of an interim dividend for the nine months ended December 31, 2021 (2020: Nil) [138]. Costs and Expenses - The Group's cost of sales for the nine months ended 31 December 2021 was approximately HK$50.2 million, compared to HK$60.7 million for the same period in 2020[12]. - General and administrative expenses increased to approximately HK$17.5 million for the nine months ended 31 December 2021, compared to HK$16.0 million for the same period in 2020[12]. - The cost of materials used for the nine months ended 31 December 2021 was approximately HK$22.9 million, down from HK$34.3 million in the same period of 2020[56]. - Employee benefit expenses increased to approximately HK$13.9 million for the nine months ended 31 December 2021, compared to HK$11.1 million for the same period in 2020[56]. - Subcontractor costs for the nine months ended 31 December 2021 were approximately HK$22.5 million, slightly up from HK$22.3 million in the same period of 2020[56]. Taxation - The estimated average annual income tax rate for the nine months ended 31 December 2021 was approximately 22.0%, compared to 15.8% in 2020[38]. - Income tax expense decreased from approximately HK$3.1 million to approximately HK$1.2 million, reflecting a decline in profit before tax from approximately HK$19.8 million to approximately HK$5.6 million[80]. Market Conditions and Future Outlook - The Group anticipates challenges due to market and economic uncertainties affecting the local property market and rising labor and material costs, which may weaken financial performance in the coming years[86]. - To address these challenges, the Group plans to seek potential business opportunities, expand market share in specialized sectors, and enhance operational efficiency and cost control measures[87]. Corporate Governance and Compliance - The company has complied with the Corporate Governance Code and applicable provisions for the nine months ended December 31, 2021[129]. - The company has adopted the GEM Listing Rules as the code of conduct for securities transactions by directors[134]. - The Audit Committee was established on September 24, 2016, to oversee internal control and risk management systems[141]. - The Audit Committee has reviewed the Group's unaudited condensed consolidated financial results for the nine months ended December 31, 2021[142]. Shareholding Structure - Mr. Kwong Chi Man holds 392,886,000 shares, representing approximately 65.48% of the company's shareholding[106]. - Mr. Yip Kong Lok owns 3,000 shares in Sage City, which accounts for 30% of the shareholding in that associated corporation[109]. - As of December 31, 2021, no other directors or chief executive officers had interests or short positions in the shares of the company or associated corporations[110]. - Mr. Kwong beneficially owns 70% of Sage City, which in turn holds 65.48% of the company's shares[124]. - Mrs. Kwong, as the spouse of Mr. Kwong, is deemed to be interested in all shares of the company held by Mr. Kwong[124]. Other Financial Information - The Group's revenue recognition includes HK$25,083,200 recognized at a point in time and HK$75,733,451 recognized over time for the nine months ended 31 December 2021[30]. - The Group operates primarily in Hong Kong, with all non-current assets and capital expenditure incurred in the region[31]. - The Group's operations in Macau are subject to a corporate income tax rate of 12% on estimated assessable profits exceeding MOP600,000[43]. - There were no significant contingent liabilities as of December 31, 2021, and 2020[92]. - No competing interests were reported by directors or controlling shareholders during the nine months ended December 31, 2021[128]. - The company is not aware of any other persons with interests or short positions in the shares that need to be disclosed as of December 31, 2021[127].
邝文记(08023) - 2022 Q3 - 季度财报