Financial Performance - For the nine months ended September 30, 2021, the company's revenue was RMB 35,180,120, a decrease of 60.4% compared to RMB 88,913,633 in the same period of 2020[12]. - Gross profit for the same period was RMB 26,813,141, down 54.2% from RMB 58,416,515 in 2020[12]. - Profit before income tax for the nine months was RMB 18,093,316, a decrease of 14.4% compared to RMB 21,181,103 in the previous year[12]. - The company's earnings per share (basic) for the nine months was RMB 3.7 cents, down from RMB 4.3 cents in 2020, representing a decline of 13.9%[12]. - Total revenue for the nine months ended September 30, 2021, was RMB 35,180,120, a decline of 60.4% compared to RMB 88,913,633 in the previous year[34]. - For the nine months ended September 30, 2021, the profit attributable to equity owners of the Company was approximately RMB 13.32 million, a decrease of about 14.06% from RMB 15.50 million for the same period in 2020[71]. Costs and Expenses - Direct costs for the nine months were RMB 8,366,979, a decrease of 72.5% from RMB 30,497,118 in the same period of 2020[12]. - Operating expenses for the nine months were RMB 5,053,338, down 50.6% from RMB 10,233,165 in 2020[12]. - The Group's direct costs decreased to approximately RMB 8.37 million, down 72.56% from RMB 30.50 million in the same period last year, primarily due to reduced bank borrowings[73][75]. - Operating expenses amounted to approximately RMB 5.05 million, a decrease of 50.64% from RMB 10.23 million in the same period last year, attributed to a reduction in sales personnel[80]. - Administrative expenses were approximately RMB 12.18 million, down 50.63% from RMB 24.67 million for the same period last year, mainly due to decreased salaries and benefits from reduced administrative staff[81]. Income and Gains - Other income, gains, and losses for the nine months increased to RMB 12,346,642, compared to RMB 3,984,298 in the same period of 2020[12]. - The group recorded a total of RMB 3,275,420 in other income, gains, and losses for the three months ended September 30, 2021, compared to RMB 1,724,412 in 2020[34]. - Other income, gains, and losses increased to approximately RMB 12.35 million, representing a 210.30% increase from RMB 3.98 million for the same period last year, mainly due to higher VAT refunds and the absence of fair value losses on derivatives[74][76]. Taxation - The income tax expense for the nine months ended September 30, 2021, was RMB 4,770,612,000, down from RMB 5,678,168,000 in 2020, indicating a reduction of about 15.9%[48]. - Current period income tax for the three months ended September 30, 2021, was RMB 1,476,504,000, compared to RMB 1,821,063,000 in 2020, reflecting a decrease of approximately 18.9%[48]. - Income tax expense was approximately RMB 4.77 million, down 16.02% from RMB 5.68 million for the same period last year, primarily due to a decrease in profit before income tax[81]. Corporate Governance - The company confirmed that the information in the report is accurate and complete in all material aspects, with no misleading or deceptive statements[4]. - The Group has complied with all code provisions of the Corporate Governance Code during the Reporting Period, ensuring high standards of corporate governance[83][84]. - The audit committee reviewed the accounting principles and policies adopted by the Group for the Reporting Period, ensuring transparency and compliance[85][86]. - The company continues to focus on corporate governance and compliance with GEM Listing Rules[119]. Shareholder Information - As of September 30, 2021, major shareholders included Beijing Municipality Dayuan Tiandi Property Development Co., Ltd. with a 66.67% interest in domestic shares[93]. - The weighted average number of ordinary shares for calculating basic earnings per share remained constant at 359,340,000 for both 2021 and 2020[63]. - As of September 30, 2021, the company issued a total of 359,340,000 shares, including 120,000,000 domestic shares, 89,840,000 H shares, and 149,500,000 unlisted foreign shares[99]. - The company did not recommend any dividend for the reporting period, consistent with the previous year[104]. Strategic Direction - The Group's strategy has shifted from aggressive business expansion to prudent risk management, leading to a decrease in revenue from finance leasing and factoring business[71]. - The Group aims to strengthen asset management and risk monitoring of key customers to ensure asset security[67]. - The Group plans to seek in-depth cooperation with high-quality customers while maximizing shareholders' interests[67]. - The Group will consider investment and mergers and acquisitions based on its main business to pursue diversified business development[67]. Changes in Management - Changes in the Board included the re-election of Mr. Li Peng and Mr. Weng Jianxing as executive Directors, and the election of Ms. Gong Xiaoting as a new executive Director[112]. - Ms. Wang Ying resigned from her position as head of the finance department and was replaced by Ms. Gong Xiaoting as CFO[114]. - Ms. Tong Fangyan was appointed as a non-executive Director during the extraordinary general meeting held on October 8, 2021[115]. - The company has undergone changes in its Supervisory Committee, with Mr. Zhu Xiaodong re-elected and Mr. Sun Luran newly elected as Supervisors[113].
富银融资股份(08452) - 2021 Q3 - 季度财报