Financial Performance - Total revenue for the three months ended September 30, 2021, was RMB 10,100,697, a slight increase from RMB 10,030,181 in the same period of 2020, representing a growth of 0.7%[5] - Profit before tax for the nine months ended September 30, 2021, was RMB 7,066,935, an increase of 23.2% compared to RMB 5,740,321 in 2020[7] - Net profit for the nine months ended September 30, 2021, reached RMB 5,749,886, a substantial increase of 86.9% from RMB 3,080,968 in the same period last year[7] - Basic earnings per share for the nine months ended September 30, 2021, was RMB 0.55, compared to RMB 0.21 in 2020, reflecting a growth of 161.9%[7] - Total revenue for the nine months ended September 30, 2021, increased to RMB 33,202,327, up 27.0% from RMB 26,137,140 in the same period of 2020[19] Income Sources - Financing lease income decreased to RMB 2,214,254 for the three months ended September 30, 2021, down 38.9% from RMB 3,620,236 in 2020[5] - Interest income from sale and leaseback arrangements increased significantly to RMB 4,622,975, up 29% from RMB 3,585,159 in the previous year[5] - Interest income from sale-leaseback arrangements for the three months ended September 30, 2021, was RMB 4,622,975, an increase of 28.9% compared to RMB 3,585,159 in the same period of 2020[19] - Interest income from factoring arrangements was RMB 1,132,198 for the three months ended September 30, 2021, with no income reported in the same period of 2020[19] Costs and Expenses - The company reported a significant reduction in employee costs to RMB 8,946,752 for the nine months ended September 30, 2021, down from RMB 9,706,529 in 2020[5] - Total financing costs for the nine months ended September 30, 2021, were RMB 7,771,347, significantly higher than RMB 3,822,018 in the same period of 2020, reflecting an increase of 103.5%[20] - The company’s employee costs decreased to approximately RMB 89 million for the reporting period, down about 7.8% from RMB 97 million for the same period in 2020[34] - Other income for the reporting period was approximately RMB 13 million, a decrease of about 41.8% from RMB 22 million for the same period in 2020, primarily due to reduced government subsidies[32] - The company’s other operating expenses increased to approximately RMB 124 million, a rise of about 106.4% from RMB 60 million for the same period in 2020, mainly due to increased costs associated with financing lease consulting services[35] Shareholder Information - As of September 30, 2021, the company’s major shareholder, Mr. Zhou, holds 600,000,000 shares, representing approximately 62.5% of the issued share capital[46] - No other individuals, apart from the disclosed major shareholders, hold 5% or more of the shares as of September 30, 2021[51] Corporate Governance - The company confirmed compliance with the corporate governance code, with all provisions adhered to except for deviation A.2.1[42] - The company has adopted the corporate governance code as its own governance framework, ensuring transparency and accountability[42] - The audit committee consists of three independent non-executive directors, ensuring oversight of accounting principles and policies adopted by the company[54] - The company has three independent non-executive directors to provide independent opinions, ensuring a balance of power between the board and management[42] Future Outlook - The management is optimistic about future growth prospects, driven by increased demand for financing solutions in the market[12] - 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[17] Miscellaneous - The company did not declare or recommend any dividends for the reporting period[27] - The company has not early adopted any new or revised International Financial Reporting Standards that have been issued but are not yet effective as of the authorization date of the financial statements[17] - During the reporting period, the company and its subsidiaries did not purchase, sell, or redeem any of its listed securities[56] - The executive directors include Mr. Zhou Dawei and Ms. Zhou Hui, while the non-executive director is Ms. Zhou An, and the independent non-executive directors are Mr. Liu Zhongwei, Mr. Mo Luojian, and Mr. Lin Peicong[56]
METROPOLIS CAP(08621) - 2021 Q3 - 季度财报