Financial Performance - Total revenue for the three months ended March 31, 2021, was RMB 22,553,000, representing an increase of 50.5% compared to RMB 14,998,000 for the same period in 2020[16] - Profit attributable to owners of the Company for the period was RMB 3,011,000, a decrease of 16.8% from RMB 3,620,000 in the same period of 2020[16] - The Group's total comprehensive income for the period was RMB 3,071,000, compared to RMB 3,620,000 in the same period of 2020[16] - Revenue for the three months ended March 31, 2021, was RMB 22,553,000, an increase of 50.7% compared to RMB 14,998,000 for the same period in 2020[46] - The Group's profit for the period has been arrived at after charging various expenses, including RMB 1,228,000 for depreciation of property, plant, and equipment[67] - For the three months ended 31 March 2021, the profit and total comprehensive income attributable to owners of the Company was approximately RMB3.0 million, a decrease from RMB3.6 million for the same period in 2020, primarily due to increased staff and operating costs[112] Revenue Streams - Income from postpartum care services was RMB 9,400,000, which was a new revenue stream introduced in 2021[16] - New postpartum care services contributed RMB 9.4 million to the revenue, offsetting a decrease in finance leasing income from approximately RMB 15.0 million to approximately RMB 13.2 million[100] - Other gains for the three months ended March 31, 2021, totaled RMB 1,338,000, compared to RMB 8,000 in 2020[49] Expenses and Costs - Finance lease income decreased to RMB 12,863,000, down 11.3% from RMB 14,502,000 in the previous year[16] - Interest income from loan receivables was RMB 290,000, down 41.6% from RMB 496,000 in the same period last year[16] - Total staff costs for the period were RMB 8,054,000, an increase of 138.5% from RMB 3,371,000 in the same period of 2020[66] - Other operating expenses rose from approximately RMB 2.9 million to approximately RMB 10.5 million, mainly due to increased depreciation from a new head office and expenses related to the new maternal and child postpartum care business[107] Assets and Liabilities - The Group's total assets as of March 31, 2021, were RMB 309,637,000, reflecting growth from RMB 300,271,000 at the beginning of the year[32] - The Group's retained profits increased to RMB 56,149,000 as of March 31, 2021, compared to RMB 53,138,000 at the beginning of the year[32] - The total impairment losses under the expected credit loss model were RMB 7,597,000, compared to RMB 3,198,000 in the same period last year[16] Corporate Governance - The Company has adopted the Corporate Governance Code and complied with its provisions, except for a deviation from code provision A.2.1[1] - The Board believes that the dual role of Mr. Zhang Junshen as both chairman and CEO does not impair the balance of power and authority within the Company[1] - The Audit Committee consists of non-executive and independent non-executive Directors, with Mr. Chan Chi Fung Leo serving as the chairman, holding the required professional qualifications[164] Market and Strategic Outlook - The market size of postpartum care centers in the PRC is projected to reach approximately RMB29 billion by 2024, indicating a positive outlook for the industry[85] - The Group aims to expand its postpartum care services in Southern and Central China, focusing on acquisitions and flagship center openings to increase market share[91] - The Group plans to target mid-end brands in tier 1 cities due to market saturation in high-end postpartum care centers[92] - The maternal and child postpartum care industry is expected to experience significant growth over the next decade due to increasing wealth and favorable government policies[89] Shareholding and Ownership - The ultimate controlling shareholders, Mr. Zhang Junshen and Mr. Zhang Junwei, collectively own 75.0% of the issued share capital of the Company[1] - The interests of Directors and the chief executive in the Shares include 300,000,000 shares held, representing approximately 75% of the shareholding[119] - As of March 31, 2021, no other directors or chief executives had interests in shares or underlying shares that required disclosure[130] Compliance and Reporting - The Group's unaudited condensed consolidated financial statements for the three months ended March 31, 2021, have been reviewed by the Audit Committee, ensuring compliance with applicable accounting standards and GEM Listing Rules[165] - The financial information in the report has not been audited, but adequate disclosures have been made according to legal requirements[165] - There were no significant events affecting the Group after March 31, 2021, up to the date of the report[1]
紫元元(08223) - 2021 Q1 - 季度财报