Financial Performance - Revenue for the nine months ended December 31, 2021, was HK$287,208,000, representing an increase of 17.6% compared to HK$243,996,000 for the same period in 2020[10] - Gross profit for the same period was HK$14,104,000, up from HK$13,019,000, indicating a gross profit margin improvement[10] - Profit for the period was HK$3,415,000, slightly down from HK$3,645,000, reflecting a decrease of 6.3% year-over-year[10] - Profit before tax increased to HK$4,122,000 from HK$3,909,000, marking a growth of 5.4%[10] - Total comprehensive income for the period was HK$3,432,000, compared to HK$3,603,000 in the previous year, a decrease of 4.7%[10] - Basic and diluted earnings per share were both HK$0.43, down from HK$0.46 in the previous year[10] - The Group reported a profit of HK$32,641,000, compared to HK$2,641,000 for the same period in 2020, representing a significant increase[57] - Profit for the period decreased from approximately HK$3.6 million for the nine months ended December 31, 2020, to approximately HK$3.4 million for the nine months ended December 31, 2021[92] Revenue Breakdown - Revenue from construction services for residential properties decreased to HK$132,057,000, down 26.1% from HK$178,907,000 in the previous year[32] - Revenue from construction services for commercial properties increased significantly to HK$155,151,000, up 138.0% from HK$65,089,000 in the previous year[32] - The Group's revenue is entirely derived from services provided in Hong Kong, with no geographical diversification[34] - All revenue recognition for the nine months ended December 31, 2021, was recognized over time[35] Cost Management - Administrative expenses decreased to HK$6,949,000 from HK$8,495,000, a reduction of approximately 18.2%[10] - Total staff costs for the period amounted to HK$35,983,000, up from HK$30,445,000 in 2020, indicating a rise of approximately 18%[57] - The Group's cost of services rose to approximately HK$273.1 million for the nine months ended December 31, 2021, an increase of approximately 18.2% from approximately HK$231.0 million for the same period in 2020[76] - Finance costs decreased from approximately HK$3.4 million for the nine months ended December 31, 2020, to approximately HK$3.0 million for the nine months ended December 31, 2021, mainly due to a decrease in the average interest rate of bank borrowings[89] Financial Management - The company reported a finance cost of HK$3,028,000, a decrease from HK$3,353,000, indicating improved financial management[10] - Interest on bank borrowings decreased to HK$2,952,000 from HK$3,326,000, reflecting a reduction of about 11%[47] - The Group incurred an exchange loss of HK$72,000, a decrease from HK$209,000 in 2020, showing an improvement of about 65%[44] - Current tax expenses for the period were HK$707,000, compared to HK$266,000 in the previous year, marking an increase of approximately 165%[49] Shareholder Information - As of December 31, 2021, Mr. Chow Mo Lam held a long position of 600,000,000 shares, representing 75% of the company's shareholding[97] - Mr. Chow and Mr. Yu are regarded as controlling shareholders, with Mr. Chow owning 83% and Mr. Yu 17% of C.N.Y. Holdings Limited, which holds the shares[98] - As of December 31, 2021, C.N.Y. Holdings Limited directly held 600,000,000 shares, representing 75% of the issued capital of the Company[106] - Mr. Chow and Mr. Yu own 83% and 17% of C.N.Y. Holdings Limited, respectively, and both are executive Directors[112] Corporate Governance - The Company complied with all applicable code provisions set out in the Corporate Governance Code during the nine months ended December 31, 2021[117] - The Audit Committee was established on January 25, 2018, and comprises three independent non-executive Directors[124] - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the nine months ended December 31, 2021, and confirmed compliance with applicable accounting standards and GEM Listing Rules[126] - All Directors confirmed compliance with the Required Standard for securities transactions for the nine months ended December 31, 2021[115] Operational Focus - The company continues to focus on cost management and operational efficiency to enhance profitability in the upcoming quarters[10] - The Group remains optimistic about its core business despite the negative impact from the economic slowdown and aims to expand its customer base and achieve sustainable growth[73] - The Group operates a single operating segment, focusing on construction services without further segmentation[33] - The Group's non-current assets are substantially located in Hong Kong, reinforcing its operational focus in the region[34]
宝发控股(08532) - 2022 Q3 - 季度财报