Financial Performance - For the three months ended September 30, 2020, the group recorded revenue of RMB 13.6 million, a decrease of 31.0% compared to the same period in 2019[7]. - The profit attributable to owners of the company for the same period was RMB 3.5 million, down 62.3% year-on-year[7]. - Basic earnings per share for the three months ended September 30, 2020, was RMB 0.02, compared to RMB 0.05 for the same period in 2019, representing a decrease of 60.0%[10]. - Operating profit for the period was RMB 5.1 million, a decline of 51.2% from RMB 10.5 million in the previous year[8]. - The total comprehensive loss for the period amounted to RMB 349, compared to a comprehensive income of RMB 9.2 million in the same period last year[10]. - The overall financial performance indicates a challenging environment with significant revenue declines across key segments[19]. - Rental income decreased by 31.0% from RMB 197 million in the same period of 2019 to RMB 136 million in this period, primarily due to reduced leasing space from educational institutions in Langfang, China[31]. - Operating profit fell by 51.2% from RMB 10.5 million in the same period of 2019 to RMB 5.1 million, mainly due to the decrease in rental income[32]. - Net profit decreased by 62.1% from RMB 9.2 million in the same period of 2019 to RMB 3.5 million, influenced by various factors including reduced rental income[48]. Revenue Breakdown - Revenue from educational facility leasing dropped by 30.4% to RMB 12,442,000 compared to RMB 17,889,000 in the previous year[19]. - Revenue from ancillary facility commercial leasing decreased by 36.7% to RMB 1,171,000 from RMB 1,851,000 year-over-year[19]. Expenses and Costs - Employee costs increased by 78.3% to RMB 1.69 million compared to RMB 0.95 million in the previous year[8]. - Interest income decreased by 90.9% to RMB 15, while interest expenses increased by 276.0% to RMB 1.6 million[8]. - Other net expenses amounted to RMB (1,294,000) for the three months ended September 30, 2020, compared to RMB 768,000 in the same period of 2019[21]. - Total other expenses decreased by 51.9% to RMB 608,000 from RMB 1,263,000 year-over-year[22]. - Interest expenses rose by 276.0% from RMB 0.4 million in the same period of 2019 to RMB 1.6 million, primarily due to financing for property acquisition in Jakarta, Indonesia[46]. - Property tax and land use tax increased by 11.9% from RMB 2.5 million in the same period of 2019 to RMB 2.8 million due to property acquisitions in Langfang, China[36]. Government Grants and Subsidies - The company recognized government grants of RMB 200, which was not present in the previous year[8]. - The company received government subsidies of RMB 0.2 million during this period, compared to zero in the same period of 2019[33]. Capital Expenditures and Investments - The company allocated HKD 31.8 million for the construction of dormitories in Langfang, China, with HKD 29.8 million utilized and HKD 2.0 million remaining as of September 30, 2020, expected to be used by December 31, 2021[52]. - For general operating funds, the company allocated HKD 43.5 million, with HKD 6.5 million utilized and HKD 34.0 million remaining, also expected to be used by December 31, 2021[52]. - The company has made a prepayment of RMB 14,738,000 for the purchase of Misheel property, with a remaining balance of RMB 17,974,000 to be paid in stages upon completion[56]. - The purchase price for the Misheel property in Ulaanbaatar, Mongolia, is RMB 32,712,000[54]. Shareholding and Governance - The company’s major shareholder, Raffles, confirmed no involvement in any competing business as of September 30, 2020[63]. - The company’s major shareholder holds a 75% equity interest, amounting to 135,000,000 shares as of September 30, 2020[69]. - The company reported a significant shareholding by Mr. Zhou, who holds 462,907,764 shares, representing approximately 33.58% of the issued shares[71]. - Raffles, the direct holding company, has a substantial ownership of 135,000,000 shares, accounting for 75% of the issued shares[73]. - The company has no other individuals or entities holding 5% or more of the shares as of September 30, 2020[74]. - The audit committee, consisting of three independent non-executive directors, reviewed the accounting principles and practices adopted by the group, confirming compliance with applicable accounting standards[77]. - The total number of issued shares of the company as of September 30, 2020, is 180,000,000 shares[73]. - Mr. Zhou and his spouse, Ms. Chung, collectively own 9.93% of Raffles, indicating a strong family interest in the company[72]. - The company has disclosed no significant interests held by directors in any important transactions or contracts during the period[75]. - The audit committee is chaired by Mr. Lin Binglin, ensuring independent oversight of financial reporting[77]. - The company is committed to full disclosure in accordance with GEM listing rules and applicable accounting standards[77]. - The chairman and executive director, Mr. Zhou, confirmed the company's governance practices in the report dated October 23, 2020[78]. Future Outlook - The company has implemented strict cost control measures and deferred capital expenditures to ensure sufficient funds for operational needs amid the pandemic[49]. - The company anticipates a long-term recovery in the education sector, with improvements in student occupancy and rental income expected over time[49]. Dividends - No dividends were declared for this period, consistent with the same period of 2019[29]. Contingent Liabilities and Acquisitions - As of September 30, 2020, the company reported no significant contingent liabilities[60]. - The company has not engaged in any significant acquisitions or disposals of subsidiaries or joint ventures as of September 30, 2020[61].
东方大学城控股(08067) - 2021 Q1 - 季度财报