Financial Performance - Revenue for the three months ended September 30, 2019, was RMB 9,033,722, a decrease of 26.3% compared to RMB 12,300,783 for the same period in 2018[6] - Revenue for the nine months ended September 30, 2019, was RMB 29,402,234, down 21.6% from RMB 37,536,503 in the same period of 2018[6] - The company reported a net loss of RMB 2,208,865 for the three months ended September 30, 2019, compared to a profit of RMB 2,094,655 in the same period of 2018[6] - The basic loss per share for the three months ended September 30, 2019, was RMB (0.003), compared to earnings of RMB 0.003 per share in the same period of 2018[6] - The total revenue for the three months ended September 30, 2019, was RMB 9,033,722, a decrease of 26.3% compared to RMB 12,300,783 in the same period of 2018[13] - The total financing costs for the nine months ended September 30, 2019, were RMB 8,127,882, a decrease of 49.6% from RMB 16,132,964 in the same period of 2018[15] - The group recorded a pre-tax loss of approximately RMB 1.8 million, a decrease of approximately RMB 8.2 million compared to a pre-tax profit of approximately RMB 6.4 million for the same period last year[26] - Other losses amounted to approximately RMB 308,760 during the reporting period, compared to other income of approximately RMB 143,238 for the same period last year[27] Employee Costs - Employee costs increased to RMB 2,750,916 for the three months ended September 30, 2019, from RMB 2,356,866 in the same period of 2018, reflecting a rise of 16.7%[6] - Employee costs increased by approximately 2% to about RMB 7.6 million, compared to approximately RMB 7.4 million for the same period last year, primarily due to the recruitment of new staff[28] Financing Costs - The company incurred financing costs of RMB 2,552,834 for the three months ended September 30, 2019, down 51.0% from RMB 5,213,975 in the same period of 2018[6] - Financing costs decreased by approximately 49.6% to about RMB 8.1 million, compared to approximately RMB 16.1 million for the same period last year, mainly due to a reduction in interest-bearing loan balances[32] Other Income and Expenses - Other income for the three months ended September 30, 2019, was RMB 21,376, a decrease of 77.6% from RMB 94,666 in the same period of 2018[6] - Other operating expenses rose by approximately 35% to about RMB 9.9 million, compared to approximately RMB 7.3 million for the same period last year, mainly due to increased compliance costs and additional consulting service expenses[30] Taxation - The income tax expense for the nine months ended September 30, 2019, was RMB 122,677, a significant decrease from RMB 1,642,625 in the same period of 2018[18] - Income tax expenses decreased by approximately 92.5% to RMB 122,677, compared to RMB 1,642,625 for the same period last year, primarily due to the utilization of tax losses from prior periods[34] Corporate Governance - The company has adopted the corporate governance code as its own, ensuring compliance with all provisions except for deviation A.2.1[37] - The company has confirmed compliance with the securities trading code during the reporting period, ensuring adherence to the standard code[40] - The company has maintained transparency and accountability through good corporate governance practices[37] - The company’s governance practices are based on the principles and provisions outlined in the GEM Listing Rules Appendix 15[37] - The audit committee consists of three independent non-executive directors, ensuring oversight of the accounting principles and policies adopted by the group[53] Shareholder Information - As of September 30, 2019, the company’s major shareholder, Mr. Zhou Dawi, holds 600,000,000 shares, representing approximately 75% of the total issued share capital[41] - View Art Investment Limited, wholly owned by Mr. Zhou Dawi, also holds 600,000,000 shares, confirming the same 75% ownership[45] Dividends - The company did not declare or recommend any dividends during the reporting period[20] - The group did not recommend any dividend payment for the reporting period, consistent with the same period last year[35] Future Outlook - The group remains optimistic about the long-term growth potential of the automotive financing business despite current economic uncertainties[24]
METROPOLIS CAP(08621) - 2019 Q3 - 季度财报