Financial Performance - Total revenue for the three months ended March 31, 2021, was RMB 11,890,034, an increase of 75.5% compared to RMB 6,788,056 for the same period in 2020[6]. - The company reported a profit before tax of RMB 3,842,163, compared to RMB 592,516 for the same period last year, marking a substantial increase of 548.5%[6]. - Net profit attributable to owners of the company for the period was RMB 1,880,916, a significant rise from RMB 338,888 in the prior year[6]. - Basic earnings per share increased to RMB 0.20 from RMB 0.04, reflecting a growth of 400%[6]. - The group recorded revenue of approximately RMB 11.9 million, an increase of about 75.2% compared to RMB 6.8 million for the same period last year[31]. - The group reported a net profit after tax of approximately RMB 2.4 million, up from RMB 0.3 million in the same period last year[31]. Revenue Sources - Financing lease income decreased to RMB 3,067,915 from RMB 4,603,321, representing a decline of 33.4% year-over-year[6]. - Interest income from sale-leaseback arrangements increased significantly to RMB 4,850,824, up 121.1% from RMB 2,184,735 in the previous year[6]. - The financing lease consulting service revenue reached RMB 3,810,964, with no revenue reported in the previous year[17]. - The financing lease income from automotive financing leases was RMB 3,067,915, down from RMB 4,497,165 in 2020, indicating a decline of about 31.8%[17]. Costs and Expenses - Employee costs rose to RMB 4,189,969, an increase of 31.7% compared to RMB 3,179,509 in the same quarter of 2020[6]. - Other operating expenses rose to approximately RMB 3.0 million, an increase of about 86.4% from RMB 1.6 million in the same period last year, primarily due to new costs associated with financing leasing consulting services[34]. - The total financing costs amounted to RMB 2,459,991, compared to RMB 1,855,213 in 2020, reflecting an increase of about 32.5%[21]. - Financing costs increased to approximately RMB 2.5 million, a rise of about 32.6% from RMB 1.9 million in the same period last year, attributed to a significant increase in average bank and other borrowings[37]. Asset Management - The company’s total assets as of March 31, 2021, were RMB 208,241,516, reflecting growth in its asset base[7]. - The asset quality of leasing receivables has begun to improve as the majority of clients in the transportation and logistics sector gradually recover their business operations[28]. - The group recognized a reversal of impairment losses of approximately RMB 1.0 million for the period, compared to RMB 0.3 million in the same period last year, due to improved asset quality of leasing receivables[36]. Future Plans and Strategy - The company plans to continue expanding its financing lease and consulting services in China, aiming for further revenue growth[9]. - The management emphasized the importance of maintaining operational efficiency to enhance profitability in the upcoming quarters[9]. - The company plans to consider establishing new subsidiaries to enhance its involvement in factoring business and explore new leasing markets with higher profit potential, such as medical equipment and cultural industries[29]. Compliance and Governance - The company did not declare any dividends during the reporting period, consistent with the previous year[27]. - The board did not recommend any dividend payment for the reporting period, consistent with the previous period[39]. - The audit committee consists of three independent non-executive directors, ensuring oversight of accounting principles and policies[51]. - The company is required to disclose related party loans exceeding 8% of the asset ratio as per GEM listing rules[50]. - The company has a commitment to transparency and compliance with the Securities and Futures Ordinance regarding shareholdings and interests[48].
METROPOLIS CAP(08621) - 2021 Q1 - 季度财报