Revenue Performance - The group reported revenue of RMB 15,180,000 for the three months ended September 30, 2020, representing a 84.5% increase compared to RMB 8,227,000 for the same period in 2019[2]. - For the nine months ended September 30, 2020, the group achieved revenue of RMB 58,431,000, up 107.5% from RMB 28,124,000 in the same period of 2019[2]. - For the nine months ended September 30, 2020, total revenue was RMB 58,431,000, a significant increase from RMB 28,124,000 in the same period of 2019, representing a growth of 107%[16]. - The furniture manufacturing and sales segment generated revenue of RMB 39,953,000, up from RMB 28,124,000 in 2019, reflecting a growth of 42%[16]. - The newly acquired data center segment, Polyqueue Limited, contributed RMB 18,478,000 in revenue for the nine months ended September 30, 2020[16]. - Major customer A contributed RMB 6,199,000 in revenue from the data center segment, which was not present in the previous year due to the acquisition date of January 15, 2020[15]. - For the nine months ended September 30, 2020, the company reported a revenue of approximately RMB 584 million, an increase of approximately RMB 303 million or 107.8% compared to the same period last year[38]. - Excluding the acquisition impact, furniture sales revenue reached approximately RMB 39.9 million, up by about RMB 11.8 million or 42.1% year-on-year[47]. Profit and Loss - The gross profit for the three months ended September 30, 2020, was RMB 2,779,000, a 16.6% increase from RMB 2,383,000 in 2019[2]. - The group incurred a loss before tax of RMB 8,548,000 for the three months ended September 30, 2020, compared to a loss of RMB 3,829,000 in the same period of 2019[2]. - The total comprehensive loss attributable to owners of the company for the nine months ended September 30, 2020, was RMB 15,662,000, compared to RMB 5,043,000 in the same period of 2019[2]. - The company reported a consolidated loss before income tax of RMB 15,514,000 for the nine months ended September 30, 2020[12]. - The company recorded a loss of approximately RMB 15.4 million for the nine months ended September 30, 2020, compared to a loss of approximately RMB 5.7 million in the same period last year[38]. - The company reported a basic and diluted loss per share of RMB 0.95 for the three months ended September 30, 2020, compared to RMB 0.48 in 2019[2]. - The company reported a significant increase in losses due to a 35.4% decline in gross profit, attributed to lower product prices aimed at maintaining operational efficiency amid the COVID-19 pandemic[39]. Expenses - The company’s administrative and other expenses for the nine months ended September 30, 2020, were RMB 19,797,000, significantly higher than RMB 10,859,000 in 2019[2]. - Sales and distribution expenses rose by 47.6% year-on-year, primarily due to increased installation, handling, and travel costs related to the pandemic[39]. - Administrative and other expenses increased by 82.3%, driven by amortization of intangible assets from the acquisition of Polyqueue Limited and increased losses from inventory disposal and bad debt provisions[39]. - The increase in administrative expenses was primarily due to the amortization of intangible assets from the acquisition of Polyqueue Limited, amounting to approximately RMB 3.8 million, and increased legal professional fees of about RMB 0.6 million[52]. - The group’s financing costs for the nine months ended September 30, 2020, amounted to RMB 3,881,000, compared to no financing costs in the same period of 2019[2]. - The group reported a tax credit of approximately RMB 0.1 million for the nine months ended September 30, 2020, compared to RMB 0.2 million in the same period last year[55]. Acquisition and Expansion - The group completed the acquisition of Polyqueue Limited on January 15, 2020, expanding its operations into the data center business in China[5]. - The company has begun operations in a new reportable segment, data center services, following the acquisition of Polyqueue Limited[11]. - The company plans to continue expanding its data center business in China, leveraging the recent acquisition to enhance service offerings[11]. - The company completed the acquisition of Polyqueue Limited on January 15, 2020, which is now a wholly-owned subsidiary contributing approximately RMB 185 million in revenue and RMB 14 million in profit since the acquisition[32]. - The acquisition of Polyqueue Limited was completed for a total consideration of HKD 37.2 million, with HKD 24.8 million paid through the issuance of shares and HKD 12.4 million through convertible bonds[31]. - The company is actively seeking new customers to enhance performance in the data center business following the acquisition of Polyqueue Limited[38]. - The company plans to expand its data center business, anticipating a compound annual growth rate of 31.8% in demand for neutral data center services in China over the next four years[43]. Corporate Governance and Compliance - The audit committee has reviewed the unaudited consolidated financial statements for the nine months ended September 30, 2020, and found them compliant with applicable accounting standards and GEM listing rules[68]. - The company has adhered to the corporate governance code as per GEM listing rules from the listing date until September 30, 2020[70]. - The company has not granted, exercised, canceled, or allowed any options to lapse under the share option scheme as of September 30, 2020[65]. - The company has not repurchased any of its own shares from the date of listing to September 30, 2020[69]. Shareholder Information - Sun Universal Limited holds 245,300,400 shares, representing 27.04% of the company's total shares[62]. - The weighted average number of ordinary shares for calculating basic loss per share was 901,676,399 for the nine months ended September 30, 2020, compared to 718,102,564 for the same period last year[26]. Other Financial Information - The company has not recorded any taxable profits in Hong Kong for the nine months ended September 30, 2020, and therefore has not made any provision for Hong Kong profits tax[6]. - The depreciation expense for property, plant, and equipment was RMB 2,796,000 for the nine months ended September 30, 2020[19]. - The company reported a total of RMB 1,441,000 in interest income from other receivables for the nine months ended September 30, 2020[19]. - As of the report date, the group has pledged land use rights and properties in Chengdu as collateral for a RMB 30.0 million loan obtained from CITIC Bank[56]. - The report date is November 11, 2020, indicating the latest financial performance review[72].
智昇集团控股(08370) - 2021 Q1 - 季度财报