Financial Performance - The company reported revenue of approximately RMB 57.1 million for the nine months ended March 31, 2019, an increase of 13.7% compared to the same period in 2018[8]. - Profit attributable to owners of the company for the nine months ended March 31, 2019, was approximately RMB 27.2 million, a decrease of 22.4% from the same period in 2018[8]. - Basic earnings per share for the nine months ended March 31, 2019, was RMB 0.15, down from RMB 0.19 in 2018[8]. - The company recorded an operating profit of RMB 31.8 million for the nine months ended March 31, 2019, compared to RMB 39.8 million in the same period of 2018[9]. - Total comprehensive income attributable to owners for the nine months ended March 31, 2019, was RMB 27.2 million, down from RMB 35.1 million in 2018[11]. - The profit for the period ended March 31, 2019, was RMB 27,216,000, compared to RMB 35,091,000 for the same period in 2018, indicating a decrease of about 22.4%[13]. - The total comprehensive income for the period was RMB 26,971,000, down from RMB 30,656,000 in the previous year, marking a decline of approximately 12.3%[13]. - The company declared an interim dividend of RMB 7,672,000 for the period, which is a decrease from the previous year's interim dividend[13]. Revenue and Income Sources - The company’s revenue for the three months ended March 31, 2019, was RMB 19.3 million, compared to RMB 16.9 million in the same period of 2018, reflecting a growth of 8.3%[9]. - Revenue from educational facility leasing for the three months ended March 31, 2019, was RMB 18,534,000, an increase of 22.5% compared to RMB 15,207,000 for the same period in 2018[30]. - Total revenue for the nine months ended March 31, 2019, reached RMB 57,080,000, up 13.7% from RMB 50,216,000 in the previous year[30]. - The revenue from ancillary facility commercial leasing for the nine months ended March 31, 2019, was RMB 2,659,000, a decrease of 48.9% from RMB 5,211,000 in the same period of 2018[30]. - Interest income from bank deposits for the nine months ended March 31, 2019, was RMB 836,000, an increase of 58% from RMB 529,000 in the same period of 2018[35]. Expenses and Costs - The company incurred employee costs of RMB 2.16 million for the nine months ended March 31, 2019, an increase from RMB 1.88 million in the same period of 2018[9]. - The company’s tax expense for the nine months ended March 31, 2019, was RMB 4.41 million, compared to RMB 2.98 million in the same period of 2018[9]. - The company incurred income tax expenses of RMB 4,406,000 for the nine months ended March 31, 2019, compared to RMB 2,978,000 for the same period in 2018, reflecting a 48% increase[37]. - The company reported finance costs of RMB 728,000 for the nine months ended March 31, 2019, down from RMB 2.01 million in 2018[9]. - Financial expenses related to bank loans for the nine months ended March 31, 2019, were RMB 728,000, a decrease of 63.7% from RMB 2,009,000 in the same period of 2018[36]. - Maintenance and repair expenses increased by 64.3% to RMB 15 million from RMB 9 million in the same period last year, primarily due to plumbing and waterproofing repairs[55]. Assets and Equity - As of March 31, 2019, the total equity attributable to owners was RMB 1,148,778,000, reflecting an increase from RMB 1,012,804,000 as of March 31, 2018, representing a growth of approximately 13.4%[13]. - The total assets as of March 31, 2019, were RMB 1,158,636,000, showing an increase from RMB 1,021,089,000 as of March 31, 2018, which is an increase of approximately 13.5%[13]. Corporate Governance and Compliance - The financial results for the period were reviewed by the audit committee, ensuring compliance with regulatory standards[18]. - The company has complied with the GEM Listing Rules and corporate governance codes during the reporting period[63][64]. - The audit committee consists of three independent non-executive directors, chaired by Mr. Lin Binglin[75]. - The audit committee reviewed the accounting principles and practices adopted by the group for the third quarter[75]. - The unaudited condensed consolidated results for the third quarter were prepared in accordance with applicable accounting standards and GEM listing rules[75]. Market and Operational Insights - The company operates in the education facility leasing sector in China and Malaysia, indicating potential for market expansion in these regions[15]. - The company rents educational facilities primarily in China and Malaysia, including teaching buildings and dormitories, with a stable student population expected for the fiscal year[58]. - The company has confirmed that it has no competitive interests outside of its holdings and is committed to solid corporate governance to enhance shareholder value[61][62]. Shareholder Information - As of March 31, 2019, the company had 135,000,000 shares outstanding, with a 75% ownership held by the chairman and executive director[67][71]. - Raffles, the direct holding company, holds 462,907,764 shares, representing approximately 33.58% of the company[68]. - No shares were repurchased or traded by the company or its subsidiaries during the period[64]. - The company has adopted trading standards for directors in accordance with GEM Listing Rules, ensuring compliance during the reporting period[65]. - No significant interests were reported by directors or senior management in any important transactions or contracts during the period[73]. Other Notable Points - The company adopted new accounting standards, including HKFRS 9 and HKFRS 15, which may impact the financial reporting and recognition of revenue[20]. - The new revenue recognition standard (HKFRS 15) is not expected to have a significant impact on the recognition of rental income from investment properties[28]. - The company has not recognized any additional impairment losses on trade receivables as a result of adopting the simplified expected credit loss method under HKFRS 9[26]. - The company completed a property acquisition approved by shareholders on December 20, 2018, with no significant acquisitions or disposals of subsidiaries or associates during the period[60]. - The company received government grants totaling RMB 400,000 for the nine months ended March 31, 2019, compared to none in the same period of 2018[9]. - The company received government subsidies of RMB 4 million for its performance in the Langfang Economic and Technological Development Zone[56].
东方大学城控股(08067) - 2019 Q3 - 季度财报