Financial Results - The unaudited condensed consolidated results for the nine months ended December 31, 2020, have been announced, with comparative figures for the same period in 2019 provided[18]. - The report indicates that the financial results have not been audited but have been reviewed and approved by the audit committee[18]. - Revenue for the nine months ended December 31, 2020, was HK$159,774,000, a decrease of 1% from HK$162,316,000 in the same period of 2019[20]. - Gross profit for the same period was HK$30,568,000, down 8.4% from HK$33,358,000 in 2019[20]. - Profit for the period increased significantly to HK$13,661,000, compared to HK$6,803,000 in the previous year, representing a growth of 100%[20]. - Basic and diluted earnings per share rose to 1.37 HK cents, up from 0.68 HK cents in the prior year[20]. - Total comprehensive income for the period was HK$13,661,000, compared to HK$6,777,000 in the same period of 2019[20]. - Profit from operations increased to HK$17,496,000, a rise of 65.7% from HK$10,542,000 in 2019[20]. - Selling expenses decreased to HK$6,249,000 from HK$7,078,000, reflecting a reduction of 11.7%[20]. - Administrative expenses were reduced to HK$12,579,000, down 35.4% from HK$19,433,000 in the previous year[20]. - Finance costs decreased to HK$159,000 from HK$280,000, a decline of 43.2%[20]. - Other net income for the period was HK$5,756,000, an increase from HK$4,599,000 in the same period of 2019[51]. - The provision for Hong Kong Profits Tax was calculated at 16.5% of the estimated assessable profits, amounting to HK$3,676,000 for the period, compared to HK$3,459,000 in 2019[54]. - The Group's total staff costs for the nine months ended December 31, 2020, were HK$9,336,000, an increase from HK$8,727,000 in the previous year[54]. - The Group's revenue decreased by approximately 1.6% to approximately HK$159,774,000 for the Period from approximately HK$162,316,000 for the Corresponding Period[82]. - Gross profit decreased by approximately 8.4% to approximately HK$30,568,000 for the Period, with a gross profit margin of 19.1% compared to 20.6% for the Corresponding Period[84]. - Revenue from the sales of ODM toys to license holders decreased by approximately 4.8% to approximately HK$104,467,000[71]. - Revenue from the distribution of imported toys and related products increased by approximately 10.4% to approximately HK$33,715,000, driven by new best-selling commodities[72]. - The Group's largest customer contributed HK$105,522,000, compared to HK$109,232,000 in the previous year, indicating a decrease of about 3.2%[49]. - The Group's five largest customers accounted for approximately 74% of total revenue, down from 77% in the previous year[45]. Corporate Governance - The company has a board of directors that includes executive, non-executive, and independent non-executive members, ensuring governance and oversight[12]. - The company emphasizes the importance of accurate and complete information in its financial reporting, as confirmed by the directors[6]. - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the nine months ended December 31, 2020, confirming compliance with applicable accounting standards and GEM Listing Rules[162]. - The company has complied with the Corporate Governance Code during the period, except for the deviation regarding the roles of chairman and CEO being held by Mr. Li[158]. - The Board of Amuse Group Holding Limited is composed of a Chairman and Executive Director, Mr. Li Wai Keung, along with three Executive Directors, one Non-executive Director, and three Independent Non-executive Directors[164]. - The report is dated February 8, 2021, indicating the company's ongoing commitment to transparency and governance[165]. Company Operations - The company is incorporated in the Cayman Islands and listed on the GEM of the Hong Kong Stock Exchange, which is designed for small and mid-sized companies[3]. - Investors are cautioned about the higher investment risks associated with companies listed on GEM compared to those on the Main Board[4]. - The company is engaged in the design, marketing, distribution, and retail sales of toys and related products, indicating a focus on market expansion in this sector[25]. - The company has achieved faster-than-expected recovery of production in China, which is crucial for its operational efficiency[1]. - The expansion of the overseas distribution network has been halted due to COVID-19 lockdowns, impacting growth strategies[1]. - The company is actively seeking new business opportunities beyond the ACG figure toys market to diversify income sources[136]. - The company relies on the performance of its senior management team and has been providing training to enhance their capabilities[134]. - Ineffective quality control over suppliers and products poses a risk to the company's operations and financial performance[134]. - The company has maintained good relationships with key customers while actively soliciting new ones to bolster sales[134]. - The implementation of an enterprise resource planning system is underway, with professional consultants engaged for the process[1]. - The company is focused on upgrading its information technology systems to improve production design functions[1]. - The board anticipates achieving a breakthrough in business performance by leveraging its diverse high-end toy product offerings[136]. Financial Position - As of December 31, 2020, the Group had cash and bank deposits of approximately HK$97,794,000, down from approximately HK$115,102,000 as of March 31, 2020, representing a decrease of about 15.5%[102]. - The Group's total indebtedness as of December 31, 2020, included bank loans of HK$3,527,000 and lease liabilities of HK$3,692,000, showing a reduction in lease liabilities from HK$6,386,000 as of March 31, 2020[103]. - The Group's gearing ratio remained stable at 0.02 times as of December 31, 2020, unchanged from March 31, 2020[103]. - The capital debt ratio as of 31 December 2020 was 0.02 times, consistent with the ratio as of 31 March 2020[99]. - The Group had no material contingent liabilities as of December 31, 2020, consistent with the situation as of March 31, 2020[109]. Shareholder Information - As of December 31, 2020, Mr. Li Wai Keung holds 485,000,000 shares, representing 48.50% of the company's issued share capital[143]. - The company did not redeem any ordinary shares during the reporting period[147]. - There were no purchases or sales of the company's ordinary shares by the company or its subsidiaries during the reporting period[151]. - The company has not granted, exercised, lapsed, or cancelled any options under the Share Option Scheme as of December 31, 2020[157]. - Ms. Fong Wing Yan, as the spouse of Mr. Li, also holds an interest in 485,000,000 shares, equating to 48.50% of the company's issued share capital[146]. - Infinite Force holds 485,000,000 shares, representing 48.50% of the company's issued share capital[146]. Use of Proceeds - The net proceeds from the listing of the Shares on GEM amounted to approximately HK$58 million, with actual usage up to December 31, 2020, being approximately HK$55,700,000, leaving unutilised proceeds of HK$2,200,000[119]. - The Group's planned application of net proceeds included expanding its product portfolio of licensed toys (79.8% of total proceeds), enhancing overseas distribution network (6.2%), and strengthening manpower (10.4%)[126]. - The expected timeline for fully utilising the unutilised net proceeds for expanding the product portfolio is on or before March 31, 2021[126]. Dividends - The Board did not recommend the payment of dividends for the Period, similar to the Corresponding Period[118].
佰悦集团(08545) - 2021 Q3 - 季度财报