Financial Performance - For the three months ended September 30, 2021, the group recorded revenue of RMB 10.8 million, a decrease of 21.0% compared to RMB 13.6 million for the same period in 2020[8]. - The loss attributable to owners of the company for the three months ended September 30, 2021, was RMB 1.4 million, compared to a profit of RMB 3.5 million for the same period in 2020[8]. - Basic loss per share for the three months ended September 30, 2021, was RMB 0.01, while basic earnings per share for the same period in 2020 was RMB 0.02[8]. - Operating profit for the three months ended September 30, 2021, was RMB 3.8 million, a decrease of 25.3% from RMB 5.1 million in the same period of 2020[9]. - EBITDA for the three months ended September 30, 2021, was RMB 4.0 million, down 24.5% from RMB 5.3 million in the same period of 2020[9]. - Total comprehensive loss for the period was RMB 1.6 million, compared to a total comprehensive income of RMB 0.3 million for the same period in 2020, reflecting a 356.4% increase in loss[10]. - The company reported a loss of RMB 1,384,000 for the three months ended September 30, 2021, compared to a profit of RMB 3,451,000 in the same period of 2020[18]. - The total comprehensive income for the three months ended September 30, 2021, was a loss of RMB 1,593,000, compared to a total comprehensive income of RMB 3,506,000 for the same period in 2020[18]. - Revenue decreased by 21.0% from RMB 136 million in the corresponding period of 2020 to RMB 108 million in the current period, primarily due to reduced leasing space for educational facilities in Langfang, China[35]. - Operating profit decreased by 25.3% from RMB 51 million in the same period of 2020 to RMB 38 million in the current period, consistent with the overall revenue decline[40]. - Loss for the current period was RMB 14 million, compared to a profit of RMB 35 million in the same period of 2020[43]. - EBITDA decreased by 24.5% from RMB 53 million in the same period of 2020 to RMB 40 million in the current period, aligning with the overall revenue decline[44]. Expenses and Costs - Interest expenses increased significantly to RMB 5.2 million for the three months ended September 30, 2021, compared to RMB 1.6 million in the same period of 2020, representing a 223.5% increase[9]. - Employee costs decreased slightly by 3.4% to RMB 1.6 million for the three months ended September 30, 2021, from RMB 1.7 million in the same period of 2020[9]. - The company reported a significant increase in legal and consulting fees, which rose by 65.8% to RMB 1.0 million for the three months ended September 30, 2021, compared to RMB 0.6 million in the same period of 2020[9]. - Interest expenses increased by 223.5% from RMB 16 million in the same period of 2020 to RMB 52 million in the current period, mainly due to interest payments on bank loans[42]. Revenue Sources - For the three months ended September 30, 2021, the total revenue from educational facility leasing was RMB 9,704,000, a decrease of 22.0% compared to RMB 12,442,000 for the same period in 2020[20]. - The total revenue from ancillary facility commercial leasing was RMB 1,049,000, down 10.4% from RMB 1,171,000 year-on-year[20]. - The overall revenue for the three months ended September 30, 2021, was RMB 10,753,000, reflecting a decline of 21.0% from RMB 13,613,000 in the previous year[20]. Other Income and Gains - The net other income for the three months ended September 30, 2021, was RMB 126,000, compared to a loss of RMB 1,294,000 in the same period of 2020[22]. - The foreign exchange gain for the three months ended September 30, 2021, was RMB 62,000, a significant improvement from a loss of RMB 1,410,000 in the previous year[22]. - Other income recorded was RMB 1 million, compared to a loss of RMB 13 million in the same period of 2020, primarily due to unrealized foreign exchange gains from overseas operations[37]. Investments and Future Plans - The company has entered into a purchase agreement for an investment property in Ulaanbaatar, Mongolia, with a purchase price of RMB 32.71 million, of which RMB 14.74 million has been paid as of September 30, 2021, and the remaining RMB 17.97 million will be paid in installments according to the completion stages specified in the agreement[54]. - The company is renovating an investment property located in Langfang City, with an estimated cost of approximately RMB 240 million, which will be paid according to its fundraising capabilities[55]. - The newly completed dormitory with a total floor area of 10,567 square meters is expected to contribute RMB 1.98 million for the fiscal year ending June 30, 2022[48]. - The company plans to prudently manage operating costs and defer discretionary capital expenditures to ensure sufficient funds for working capital and financing activities[46]. Shareholder Information - As of September 30, 2021, the company’s major shareholder holds 75% of the issued shares, amounting to 135 million shares[70]. - Raffles holds a 75% stake in the company, with 135,000,000 shares owned by both Mr. Zhou and Ms. Chung[74]. - Mr. Zhou owns 21.17% of Raffles, while he and Ms. Chung jointly own 9.93%[75]. - The total issued shares of the company as of September 30, 2021, is 180,000,000[75]. - No other individuals or corporations hold 5% or more of the shares as of September 30, 2021[76]. Corporate Governance - The audit committee consists of three independent non-executive directors, ensuring compliance with applicable accounting standards and GEM listing rules[78]. - The company has complied with the corporate governance code as per GEM listing rules during the period[66]. - There were no significant interests held by directors in any important transactions or contracts during the period[77]. - The board has resolved not to declare any dividends for the current period, consistent with the previous year[33]. Contingent Liabilities and Commitments - As of September 30, 2021, the company has no significant contingent liabilities[61]. - As of September 30, 2021, the company has no other significant investment or capital commitments planned for the future[56]. - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the period[62]. - The company operates primarily in China, Malaysia, and Indonesia, with the majority of its revenue derived from educational facility leasing in China[19].
东方大学城控股(08067) - 2022 Q1 - 季度财报