Revenue Performance - Revenue for the three months ended September 30, 2020, was RMB 10,030,181, an increase of 11.1% compared to RMB 9,033,722 for the same period in 2019[5] - Total revenue for the nine months ended September 30, 2020, was RMB 26,137,140, a decrease of 11.5% from RMB 29,402,234 in the previous year[5] - Financing lease income for the three months ended September 30, 2020, was RMB 3,620,236, a decrease of 40.6% compared to RMB 6,099,845 in the same period of 2019[16] - The group's revenue decreased by approximately RMB 3.3 million or 11.1% to about RMB 26.1 million compared to the same period last year, primarily due to reduced deposits required from lessees in the used car financing lease market[29] Profit and Earnings - The company reported a profit of RMB 2,016,330 for the three months ended September 30, 2020, compared to a loss of RMB 2,208,865 in the same period of 2019[5] - Profit before tax for the three months ended September 30, 2020, was RMB 1,309,316, compared to a loss of RMB 2,208,865 in the same period of 2019[23] - The company reported a basic earnings per share of RMB 2.00 for the nine months ended September 30, 2020, compared to a loss per share of RMB 2.41 in the same period of 2019[23] - The group's profit before tax was approximately RMB 5.7 million, a significant increase from a loss of RMB 1.8 million in the same period last year, mainly due to reduced operating expenses and impairment losses[31] Employee Costs - Employee costs increased to RMB 3,550,869 for the three months ended September 30, 2020, from RMB 2,750,916 in the same period of 2019, reflecting a rise of 28.9%[5] - The company incurred total employee costs of RMB 9,706,529 for the nine months ended September 30, 2020, an increase of 28.0% from RMB 7,584,468 in the same period of 2019[20] - Employee costs rose by approximately 28.0% to about RMB 9.7 million, compared to RMB 7.6 million in the same period last year, due to new hires in the direct sales stores[34] Other Income and Expenses - Other income for the three months ended September 30, 2020, was RMB 1,722,935, significantly higher than RMB 21,376 in the same period last year[5] - Government subsidies received during the reporting period amounted to RMB 1,496,992, compared to RMB 544,100 in the same period of 2019[19] - Other income increased by approximately 231.0% to about RMB 2.2 million, compared to RMB 0.7 million in the same period last year, primarily due to increased government subsidies related to VAT and corporate tax payments[32] - Other operating expenses decreased by approximately 39.3% to about RMB 6.0 million, down from RMB 9.9 million in the same period last year, as business activities gradually resumed[35] Financing Costs - The company’s financing costs for the nine months ended September 30, 2020, were RMB 3,822,018, down from RMB 8,127,882 in the previous year, indicating a reduction of 53.0%[5] - Total financing costs for the nine months ended September 30, 2020, were RMB 3,822,018, a decrease of 53.0% from RMB 8,127,882 in the same period of 2019[18] - Financing costs decreased by approximately 53.0% to about RMB 3.8 million, down from RMB 8.1 million in the same period last year, due to lower estimated interest costs from deposits[38] Shareholder Information - As of September 30, 2020, Mr. Zhou Dawei holds a controlling interest in View Art Investment Limited, which owns approximately 62.5% of the company's issued share capital, equating to 600,000,000 shares[45] - View Art Investment Limited is the beneficial owner of 600,000,000 shares, representing a 62.5% ownership stake in the company[48] Compliance and Governance - The audit committee consists of three independent non-executive directors, ensuring oversight of the company's accounting principles and policies[57] - There are no known interests or potential conflicts of interest among directors or major shareholders that would compete with the company's business as of September 30, 2020[53] - The company has fulfilled its disclosure obligations regarding related party transactions exceeding the asset ratio of 8% as defined by GEM listing rules[50] - The company has appointed Eight Financial Limited as its compliance advisor, with no reported interests related to the group as of September 30, 2020[54] - The executive directors of the company include Mr. Zhou Dawei and Ms. Zhou Hui, with independent non-executive directors also serving on the board[58] Dividend Policy - The company did not declare any dividends during the reporting period, consistent with the previous year[25] - The board did not recommend any dividend payment for the reporting period, consistent with the previous period[40] Future Outlook - The company expects that the adoption of new and revised International Financial Reporting Standards will not have a significant impact on its financial position or performance in the future[14] - The company plans to continue focusing on expanding its financing leasing and financial advisory services in China[8]
METROPOLIS CAP(08621) - 2020 Q3 - 季度财报