Financial Performance - The company recorded revenue of approximately HKD 190,512,000 for the nine months ended December 31, 2021, representing an increase of 7.9% compared to HKD 176,930,000 for the same period in 2020[4]. - The profit attributable to owners of the company for the nine months ended December 31, 2021, was approximately HKD 277,000, a significant decrease of 87.4% from HKD 2,196,000 for the same period in 2020[4]. - The gross profit for the nine months ended December 31, 2021, was HKD 46,046,000, up from HKD 35,418,000 in the same period of 2020, indicating a gross margin improvement[6]. - The total comprehensive income attributable to owners of the company for the three months ended December 31, 2021, was a loss of HKD 112,000, compared to a profit of HKD 910,000 for the same period in 2020[6]. - The company reported a basic loss per share of HKD 0.01 for the three months ended December 31, 2021, compared to earnings per share of HKD 0.08 for the same period in 2020[6]. - The group's revenue for the three months ended December 31, 2021, was HKD 68,808,000, a decrease of 5% compared to HKD 72,570,000 for the same period in 2020[17]. - The group's food and beverage grocery sales revenue for the nine months ended December 31, 2021, was HKD 190,512,000, an increase of 7.6% from HKD 176,930,000 in the same period of 2020[17]. - The revenue from daily necessities and grain products for the three months ended December 31, 2021, was HKD 20,626,000, up 28.5% from HKD 16,087,000 in 2020[17]. - The revenue from packaged foods for the three months ended December 31, 2021, was HKD 14,247,000, down 54.5% from HKD 31,249,000 in 2020[17]. - The total employee costs for the nine months ended December 31, 2021, amounted to HKD 16,305,000, an increase of 31% from HKD 12,388,000 in the same period of 2020[26]. - The group reported a loss attributable to owners of the company of HKD 112,000 for the three months ended December 31, 2021, compared to a profit of HKD 910,000 in the same period of 2020[34]. - The company anticipates a revenue decline in the first quarter of 2022 due to tightened social distancing measures in Hong Kong[40]. Expenses and Costs - The company’s administrative expenses for the nine months ended December 31, 2021, were HKD 23,381,000, compared to HKD 18,060,000 for the same period in 2020, reflecting increased operational costs[6]. - The sales cost for the nine months ended December 31, 2021, was approximately HKD 144,466,000, an increase of about 2.1% from approximately HKD 141,512,000 for the same period in 2020[43]. - Administrative expenses increased from approximately HKD 18,060,000 for the nine months ended December 31, 2020, to approximately HKD 23,381,000 for the same period in 2021[49]. - Financing costs for the nine months ended December 31, 2021, were approximately HKD 369,000, an increase of about 69.9% from approximately HKD 217,000 for the same period in 2020[50]. - The interest expense on lease liabilities for the three months ended December 31, 2021, was HKD 159,000, compared to HKD 62,000 in 2020[24]. Dividends and Shareholder Returns - The company did not recommend the payment of any dividends for the nine months ended December 31, 2021, consistent with the previous year[4]. - The group did not declare or recommend any dividends for the nine months ended December 31, 2021[33]. - No dividends were declared or proposed for the nine months ended December 31, 2021, consistent with the previous year[54]. Cash and Equity Position - The total equity of the company as of December 31, 2021, was HKD 103,829,000, an increase from HKD 102,751,000 as of April 1, 2021[8]. - As of December 31, 2021, the group's bank balances and cash amounted to approximately HKD 27,879,000, down from HKD 38,438,000 as of March 31, 2021, with a current ratio of approximately 5.0 times[56]. - The group's interest-bearing borrowings totaled approximately HKD 11,769,000 as of December 31, 2021, compared to HKD 8,044,000 as of March 31, 2021, resulting in a debt-to-equity ratio of approximately 11.3%[57]. Strategic Initiatives and Investments - The company has begun providing catering services through restaurants, contributing approximately 1.3% to total revenue for the nine months ended December 31, 2021[40]. - The company plans to allocate approximately HKD 12,560,000 to upgrade its ERP system to enhance operational efficiency, with about HKD 4,702,000 already spent on consulting services and software and hardware acquisition[63]. - Approximately HKD 5,540,000 is planned for sales and marketing activities to attract more customers and increase loyalty, with HKD 1,183,000 already spent on advertising and participation in local food exhibitions[64]. - The company aims to enhance its position in the food and beverage grocery distribution industry and expand operations to create long-term shareholder value[62]. - The company has decided to reallocate unutilized net proceeds from the listing for developing restaurant services and general working capital, retaining approximately HKD 3,278,000 for leasing expenses[63]. - The company plans to invest approximately HKD 3,500,000 in new repackaging equipment to enhance automation and efficiency in the repackaging process[66]. - The company aims to open about 5 restaurants by December 31, 2022, with the first one already opened in Tsim Sha Tsui in April 2021[66]. - Approximately HKD 9,000,000 has been allocated for the startup and renovation costs of the restaurants, with around HKD 2,606,000 already spent on the Tsim Sha Tsui location[66]. - An additional HKD 5,211,000 has been allocated for general working capital to support daily operations, with about HKD 1,046,000 already utilized[67]. Risk Management and Compliance - The company remains cautiously optimistic about its core business despite economic uncertainties caused by the Omicron variant[67]. - The main strategic, operational, and financial risks identified include market competition, employee commitment and satisfaction, and customer credit risk[67]. - The company holds a competitive advantage due to its strong track record and experienced management team[67]. - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with applicable disclosure requirements[12]. - The audit committee has reviewed the unaudited consolidated results for the nine months ending December 31, 2021, ensuring compliance with applicable accounting standards and GEM Listing Rules[86]. Shareholder Information - As of December 31, 2021, major shareholders Huang Shaowen and Huang Shaohua each hold 602,800,000 shares, representing 51.88% of the total issued shares[69]. - The company has granted a total of 112,000,000 share options to employees under its share option plan, with an exercise price of HKD 0.30 per share[75]. - The company has adopted a set of securities trading codes for directors, confirming compliance with the GEM Listing Rules for the nine months ending December 31, 2021[76]. - There are no known interests held by directors or major shareholders that could compete with the company's business as of December 31, 2021[78]. - The company has not purchased, sold, or redeemed any of its listed securities during the nine months ending December 31, 2021[81].
亚洲富思(08413) - 2022 Q3 - 季度财报