Financial Performance - The company recorded revenue of RMB 19.7 million for the three months ended September 30, 2019, representing an increase of 8.5% compared to the same period in 2018[7]. - Profit attributable to owners of the company was RMB 9.2 million, a decrease of 2% from RMB 9.4 million in the same period last year[7]. - Basic earnings per share remained stable at RMB 0.05, unchanged from the previous year[11]. - Operating profit for the period was RMB 10.5 million, compared to RMB 11.1 million in the prior year[9]. - Total comprehensive income for the period was RMB 9.2 million, down from RMB 14.4 million in the same period last year[11]. - Net profit for the three months ended September 30, 2019, was RMB 9,436,000, compared to RMB 9,339,000 for the same period in 2018, reflecting a slight increase of 1.0%[13]. - Rental income increased by 8.5% from RMB 182 million in the same period of 2018 to RMB 197 million in the current period[41]. - Operating profit for the current period was RMB 105 million, compared to RMB 111 million in the same period of 2018[42]. - Net profit for the current period was RMB 92 million, slightly down from RMB 94 million in the same period of 2018[52]. - Basic earnings per share remained at RMB 0.05 for both the current and previous periods[38]. Income and Expenses - The company reported a net interest income of RMB 165,000, up from RMB 19,000 in the previous year[9]. - The company’s other income for the period was RMB 768,000, an increase from RMB 576,000 in the prior year[9]. - The company incurred total other expenses of RMB 1,263,000 for the three months ended September 30, 2019, compared to RMB 711,000 for the same period in 2018, representing an increase of 77.6%[23]. - Employee costs increased to RMB 948,000 from RMB 536,000 in the previous year[9]. - Employee costs increased by 76.9% from RMB 5 million in the same period of 2018 to RMB 9 million in the current period due to an increase in staff numbers[45]. - Maintenance and repair costs rose from RMB 5 million in the same period of 2018 to RMB 21 million in the current period[48]. - Legal and consulting fees increased by 49.7% from RMB 5 million in the same period of 2018 to RMB 8 million in the current period[49]. - Income tax decreased by 30.3% from RMB 15 million in the same period of 2018 to RMB 10 million in the current period[51]. Foreign Exchange and Taxation - The company experienced a foreign exchange loss of RMB 1.5 million from overseas operations, compared to a gain of RMB 357,000 in the previous year[11]. - The company reported a foreign exchange gain of RMB 702,000 for the three months ended September 30, 2019, compared to RMB 576,000 in the same period of 2018, indicating a growth of 21.9%[22]. - The effective corporate income tax rate for the company's Chinese subsidiaries is 25%[26]. - Property tax and land use tax decreased by 23% from RMB 32 million in the same period of 2018 to RMB 25 million in the current period[43]. Strategic Plans and Market Expansion - The company plans to continue exploring market expansion opportunities and enhancing its product offerings in the upcoming quarters[7]. - The company continues to focus on expanding its educational facility leasing services in China and Malaysia[15]. - The company aims to maintain a stable occupancy rate and revenue from contracted colleges and universities for the remainder of the fiscal year[55]. Shareholder and Corporate Governance - The controlling shareholder, Raffles, holds a 33.58% stake in the company, with Mr. Zhou owning 75% of the issued shares[66][67]. - The company has complied with the corporate governance code as per GEM Listing Rules during the reporting period[61]. - The company is committed to enhancing shareholder value through solid corporate governance practices[60]. - No other entities or individuals, apart from the company's directors or senior management, hold 5% or more of the shares as of September 30, 2019[71]. - The audit committee, consisting of three independent non-executive directors, has reviewed the accounting principles and practices adopted by the group for the first quarter performance[74]. - The first quarter performance report for 2020 has been prepared in accordance with applicable accounting standards and GEM listing rules, with full disclosure made[74]. Construction and Development - The net proceeds from the placement of 45,000,000 shares at HKD 2.64 per share amounted to approximately HKD 75.3 million, which will be used to construct new dormitories in the campus located in Langfang[56]. - As of September 30, 2019, the construction of new dormitories on the campus is still ongoing[57]. Compliance and Trading Activity - No shares were repurchased or traded by the company or its subsidiaries during the reporting period[62]. - The company has no contingent liabilities as of September 30, 2019[29]. - The company has no direct or indirect competition with its controlling shareholder, Raffles, as per the non-competition agreement established[59].
东方大学城控股(08067) - 2020 Q1 - 季度财报