Financial Performance - The group recorded unaudited revenue of approximately HKD 125.4 million for the nine months ended December 31, 2021, representing an increase of approximately 100.1% compared to the same period in 2020[8]. - The group achieved an unaudited profit of approximately HKD 17.7 million for the nine months ended December 31, 2021, compared to a loss of HKD 14.3 million in the same period of 2020[8]. - For the three months ended December 31, 2021, the group reported revenue of HKD 34.4 million, up from HKD 18.9 million in the same quarter of 2020, marking an increase of approximately 81.9%[9]. - The gross profit for the nine months ended December 31, 2021, was HKD 24.7 million, compared to HKD 11.4 million for the same period in 2020, reflecting a growth of approximately 116.5%[9]. - The group reported a net profit of HKD 17.7 million for the nine months ended December 31, 2021, compared to a net loss of HKD 14.3 million in the same period of 2020[9]. - Basic and diluted earnings per share for the nine months ended December 31, 2021, were HKD 4.4 cents, compared to a loss of HKD 3.6 cents in the same period of 2020[9]. - Total comprehensive income for the nine months ended December 31, 2021, was approximately HKD 17.7 million, an improvement from a total comprehensive loss of about HKD 14.3 million in the same period of 2020[45]. Revenue Breakdown - For the nine months ended December 31, 2021, total revenue was HKD 125,404,000, up 100.0% from HKD 62,662,000 in the same period of 2020[15]. - Major customer A contributed HKD 20,669,000 to total revenue for the nine months ended December 31, 2021, while customer B contributed HKD 19,468,000, reflecting strong customer reliance[17]. - Revenue from the United States for the nine months ended December 31, 2021, was HKD 55,692,000, an increase of 58.5% from HKD 35,211,000 in the same period of 2020[18]. - The revenue breakdown by product category for the nine months ended December 31, 2021, included outerwear at HKD 31.1 million (24.8%), knit shirts at HKD 14.6 million (11.6%), and sweaters at HKD 33.1 million (26.4%) among others[33]. Expenses and Costs - Financing costs for the nine months ended December 31, 2021, totaled HKD 964,000, an increase of 33.7% compared to HKD 721,000 in the same period of 2020[22]. - Sales and distribution expenses increased by approximately 15.5% to about HKD 5.7 million in 2021 from HKD 4.9 million in 2020, driven by salary increases and additional personnel in the Australian office[41]. - Administrative expenses decreased by approximately 19.0% to about HKD 16.1 million in 2021 from HKD 19.9 million in 2020, mainly due to voluntary reductions in employee costs[42]. - The company’s employee costs for the nine months ended December 31, 2021, amounted to approximately HKD 15.1 million, down from HKD 18.3 million in the same period of 2020[28]. - The company’s depreciation expenses for property, plant, and equipment decreased from HKD 1.2 million in the nine months ended December 31, 2020, to HKD 0.9 million in the same period of 2021[28]. Other Income and Gains - The company reported other income of HKD 120,000 for the nine months ended December 31, 2021, a decrease of 93.4% from HKD 1,828,000 in the same period of 2020[20]. - The company recorded a net gain of HKD 15,236,000 from other income and losses for the nine months ended December 31, 2021, compared to a loss of HKD 2,190,000 in the same period of 2020[21]. - The company recorded other gains of approximately HKD 15.2 million for the nine months ended December 31, 2021, compared to other losses of about HKD 2.2 million in the same period of 2020, mainly due to property sale gains[40]. Shareholder Information - As of December 31, 2021, Mr. Leung and Ms. Tam each hold 280,000,000 shares, representing 70% of the company's issued share capital through Giant Treasure[48]. - Giant Treasure is the beneficial owner of 280,000,000 shares, accounting for 70% of the issued shares of the company[50]. - No other individuals or entities were reported to hold 5% or more of the voting shares as of December 31, 2021[51]. Corporate Governance - The company has established an audit committee consisting of three independent non-executive directors, ensuring compliance with applicable accounting standards and GEM listing rules[58]. - The board believes that the deviation from the corporate governance code regarding the separation of the roles of chairman and CEO is appropriate given Mr. Leung's long-term leadership since 2008[56]. - The company has adopted a code of conduct for securities transactions by directors, which meets or exceeds the required standards[55]. - The audit committee has reviewed the quarterly report and the unaudited consolidated results for the nine months ending December 31, 2021, confirming adequate disclosure[58]. Future Outlook - The company is evaluating the potential impact of new accounting standards that have not yet come into effect, which may affect future financial reporting[14]. - The company plans to focus on developing the Australian market and reallocating resources from the U.S. to Australia, aligning with global trends towards sustainable product development[47]. - There is no mention of market expansion or acquisitions in the current report, indicating a focus on existing operations and customer relationships[16]. - No significant events occurred after December 31, 2021, that would impact the company's operations and financial performance[57].
爱世纪集团(08507) - 2022 Q3 - 季度财报