Revenue and Profit - Revenue decreased from RMB 594 million for the nine months ended September 30, 2018, to RMB 424 million for the nine months ended September 30, 2019, representing a decline of approximately 28.7%[6] - Profit decreased from RMB 166 million for the nine months ended September 30, 2018, to RMB 134 million for the nine months ended September 30, 2019, a decrease of about 19.3%[18] - Total revenue for the nine months ended September 30, 2019, was RMB 42,374,132, down 28.7% from RMB 59,409,549 for the same period in 2018[44] - The company achieved a profit before tax of RMB 18,235,786 for the nine months ended September 30, 2019, representing a decrease of 18.5% compared to RMB 22,229,895 in the previous year[44] - The net profit for the three months ended September 30, 2019, was RMB 6,436,534, an increase of 57.8% from RMB 4,076,973 in the same period of 2018[44] - Basic and diluted earnings per share for the nine months ended September 30, 2019, were RMB 5.0, down 33.3% from RMB 7.5 in the same period of 2018[44] - Basic earnings per share for the three months ended September 30, 2019, were RMB 23.85, compared to RMB 15.85 for the same period in 2018, marking an increase of approximately 50%[62] Income and Expenses - Revenue from financing leasing services was RMB 406 million, accounting for 95.8% of total revenue for the nine months ended September 30, 2019[7] - Other net income increased from RMB 11 million to RMB 19 million, primarily due to an increase in interest income from loans to related parties by RMB 9 million[12] - Interest expenses decreased from RMB 191 million to RMB 103 million, mainly due to a reduction in average loan balances[13] - Operating expenses decreased from RMB 163 million to RMB 84 million, primarily due to a reduction in listing expenses by RMB 82 million[15] - Impairment losses increased to RMB 74 million, mainly due to an increase in expected credit losses[16] - Income tax expenses decreased from RMB 56 million to RMB 48 million, primarily due to a decrease in profit before tax by approximately RMB 40 million[17] - The company’s interest expenses for the nine months ended September 30, 2019, were RMB 10,268,514, a decrease of 46.1% from RMB 19,061,093 in the previous year[44] - The company’s operating expenses for the three months ended September 30, 2019, were RMB 2,714,856, down 51.4% from RMB 5,585,640 in the same period of 2018[44] - The company’s other net income for the nine months ended September 30, 2019, was RMB 1,934,642, an increase of 70.3% from RMB 1,136,040 in the previous year[44] - The income tax expense for the nine months ended September 30, 2019, was RMB 4,795,720, down from RMB 5,636,802 in the same period of 2018, reflecting a decrease of approximately 15%[59] Shareholder Information - The board does not recommend any dividend payment for the nine months ending September 30, 2019[29] - The company declared a final dividend of HKD 0.021 per share, totaling RMB 4,988,693 for the nine months ended September 30, 2019, with no dividends declared in the same period of 2018[65] - As of September 30, 2019, the company’s major shareholders include Septwolves Holdings Limited with 118,968,750 shares (44.06%) and Zijiang Capital with 37,968,750 shares (14.06%)[39] - The company reported a total of 270,000,000 ordinary shares issued as of September 30, 2019, an increase from 220,863,971 shares in the same period of 2018, reflecting a growth of about 22% in share capital[62] Compliance and Governance - The company has adopted a code of conduct for securities trading in compliance with GEM Listing Rules, confirming full adherence by all directors during the reporting period[25] - No shares were purchased, sold, or redeemed by the company or its subsidiaries during the reporting period[26] - The company has appointed Changjiang Securities Finance (Hong Kong) Limited as its compliance advisor, with no conflicts of interest reported[32] - No directors or major shareholders engaged in any business that directly or indirectly competes with the group during the reporting period[30] - The company has not granted, exercised, canceled, or lapsed any share options under the share option scheme since its adoption[28] - No interests or short positions in the company’s shares were reported by directors or senior management other than those disclosed[37] Strategic Initiatives - The company aims to enhance risk management and seek new business directions to diversify its service offerings[20] - The company plans to optimize its financial structure and control funding costs to improve financing capabilities[20] Employee and Legal Expenses - The total employee costs for the nine months ended September 30, 2019, amounted to RMB 4,165,198, a decrease of about 4.25% compared to RMB 4,350,165 for the same period in 2018[62] - The company incurred depreciation expenses of RMB 770,556 for the nine months ended September 30, 2019, significantly higher than RMB 50,513 in the same period of 2018, indicating a substantial increase in asset utilization[62] - The company experienced a significant increase in legal expenses, which rose to RMB 527,272 for the nine months ended September 30, 2019, compared to RMB 105,094 in the same period of 2018, representing a growth of over 400%[62]
百应控股(08525) - 2019 Q3 - 季度财报