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长城微光(08286) - 2020 Q3 - 季度财报
CCOECCOE(HK:08286)2020-11-13 14:19

Financial Performance - For the three months ended September 30, 2020, the company reported a revenue of RMB 6,808,000, a decrease of 61.2% compared to RMB 11,113,000 in the same period of 2019[6] - The gross loss for the three months ended September 30, 2020, was RMB 5,306,000, compared to a gross profit of RMB 5,094,000 in the same period of 2019[6] - The company incurred a loss before tax of RMB 8,519,000 for the three months ended September 30, 2020, compared to a profit before tax of RMB 47,000 in the same period of 2019[6] - For the nine months ended September 30, 2020, the total revenue was RMB 35,865,000, down from RMB 10,466,000 in the same period of 2019[6] - The net loss attributable to owners of the company for the nine months ended September 30, 2020, was RMB 19,669,000, compared to a profit of RMB 652,000 in the same period of 2019[6] - The company’s basic and diluted loss per share for the three months ended September 30, 2020, was RMB 0.028, compared to earnings per share of RMB 0.0002 in the same period of 2019[6] - For the nine months ended September 30, 2020, the company reported a loss attributable to owners of approximately RMB 19,669,000, compared to a profit of RMB 652,000 for the same period in 2019[18] - Total sales to external customers for the nine months ended September 30, 2020, amounted to RMB 6,731,000, a significant decrease from RMB 35,865,000 in the same period of 2019[25] - The company experienced substantial product returns totaling RMB 17,197,000, primarily due to quality issues and the impact of the COVID-19 pandemic on customer operations[25] - The company recorded a revenue of approximately negative RMB 10,466,000 for the nine months ended September 30, 2020, a decrease of about 129.18% compared to RMB 35,865,000 for the same period in 2019[34] - The cost of sales for the nine months ended September 30, 2020, was approximately negative RMB 3,613,000, a decrease of about 117.41% compared to RMB 20,752,000 for the same period in 2019[36] - The company reported a gross loss of RMB 6,853,000 for the nine months ended September 30, 2020, compared to a gross profit of RMB 15,113,000 for the same period in 2019[36] - Administrative and other operating expenses amounted to approximately RMB 8,145,000 for the nine months ended September 30, 2020, a decrease of about RMB 4,988,000 compared to RMB 13,133,000 for the same period in 2019[39] - The company incurred a net loss of approximately RMB 19,669,000 for the nine months ended September 30, 2020, compared to a net profit of RMB 652,000 for the same period in 2019[39] Liquidity and Financial Position - The company reported a current liabilities net amount of approximately RMB 77,519,000 as of September 30, 2020, indicating significant liquidity concerns[8] - The company plans to improve its liquidity by issuing new shares or bonds and engaging with strategic investors[8] - As of September 30, 2020, the company's net current liabilities and net liabilities were RMB 77,519,000 and RMB 65,720,000, respectively, indicating significant uncertainty regarding the company's ability to continue as a going concern[28] - The company’s total reserves as of September 30, 2020, included accumulated losses of RMB 127,960,000, reflecting ongoing financial challenges[21] - The company has received financial support from major shareholders, with outstanding loans of approximately RMB 18,973,000 owed to Taiyuan Changcheng and RMB 1,157,000 owed to Beijing Zhongze as of September 30, 2020[40] - The company is facing challenges in securing funding due to tightened bank lending, affecting the drawdown dates for shareholder loans[32] - As of September 30, 2020, the company had pledged assets with a book value of approximately RMB 45,944,000 for bank borrowings[44] - The company reported a decrease in the book value of pledged machinery from RMB 723,000 as of December 31, 2019, to RMB 539,000 as of September 30, 2020[44] Strategic Plans and Operations - The company aims to revitalize its assets and develop new products while expanding into new markets and sectors[8] - The company plans to lease out underutilized properties to increase property income and strengthen existing sales forces[30] - The company aims to expand into the civilian product market leveraging its technological advantages accumulated in the military sector[30] - The company plans to continue focusing on technological upgrades and expanding its civilian customer base despite the challenges posed by the pandemic[27] - The management team has undergone changes, with new appointments aimed at improving production processes and expanding market reach, although operations have been significantly impacted by the pandemic[27] - The company is actively seeking to resell returned products in the civilian market to realize additional revenue[37] Shareholder Structure - Major shareholder Zhang Shaohui holds 82,200,000 shares, representing 41.34% of the company's total equity[51] - Beijing Zhongze holds 82,200,000 shares, also representing 41.34% of the company's total equity[51] - Taiyuan Changcheng Optoelectronics holds 80,160,000 shares, accounting for 40.31% of the company's total equity[51] - Beijing Yuankang Technology holds 34,000,000 shares, which is 17.10% of the company's total equity[51] - The company has a total of 57,300,000 shares registered under Beijing Zhongze, with Zhang Shaohui deemed to have control over these shares[55] - The company has a total of 24,900,000 shares registered under Taiyuan Tanghai, with Liu Jiang deemed to have control over these shares[56] - As of September 30, 2020, the company had no other known interests or positions held by directors or supervisors in the company's shares[57] - The company’s total equity structure includes various major shareholders with significant percentages, indicating a concentrated ownership[51] Corporate Governance - The board of directors is composed of nine members, including four executive directors and three independent non-executive directors[66] - An audit committee has been established to review and supervise the financial reporting system, risk management, and internal control systems of the group[64] - The audit committee consists of two independent non-executive directors and one non-executive director, with Mr. Xu Yongfeng serving as the chairman[64] - The board believes there were no significant contracts entered into by the company or its subsidiaries that would constitute a major interest for the group as of September 30, 2020[61] - The board believes that directors, supervisors, and management shareholders had no interests in any business that may compete with the group as of September 30, 2020[62] Dividends and Share Transactions - The company did not recommend any dividend payments for the nine months ended September 30, 2020, and 2019[20] - No share buybacks, sales, or redemptions occurred by the company or its subsidiaries during the nine months ended September 30, 2020[58] - The company does not have any share option plans in place[59] - No rights to purchase H-shares were granted to directors or supervisors during the nine months ended September 30, 2020[60]