Financial Performance - The Group reported revenue of RMB 2,009,000 for the three months ended March 31, 2020, a decrease of 53.0% compared to RMB 4,270,000 in the same period of 2019[4]. - The Group incurred a loss before tax of RMB 2,046,000 for the first quarter of 2020, compared to a profit of RMB 233,000 in the same period of 2019[4]. - The basic and diluted loss per share for the period was RMB 0.22, compared to earnings of RMB 0.01 per share in the same period last year[4]. - The Group's total comprehensive loss attributable to owners for the period was RMB 1,814,000, compared to a loss of RMB 79,000 in Q1 2019[4]. - The loss attributable to the owners of the company for the three months ended March 31, 2020, was approximately RMB 1.76 million, compared to a profit of RMB 76,000 for the same period in 2019[22]. Expenses - Employee benefit expenses increased to RMB 2,513,000 in Q1 2020, up 34.5% from RMB 1,867,000 in Q1 2019[4]. - The Group's other operating expenses rose to RMB 706,000 in Q1 2020, compared to RMB 419,000 in the same period of 2019[4]. - Other operating expenses increased to approximately RMB 0.70 million for the three months ended March 31, 2020, from approximately RMB 0.40 million for the same period in 2019, due to increased legal and professional fees post-listing[32]. - Project costs decreased by approximately 47.5% to about RMB 0.80 million for the three months ended March 31, 2020, from approximately RMB 1.53 million for the same period in 2019[30]. Taxation - The Group's tax credit for the period was RMB 285,000, compared to a tax expense of RMB 157,000 in the same period of 2019[4]. - The company had a deferred tax asset recognized of approximately RMB 285,000 related to deductible temporary differences[19]. Share Capital and Ownership - As of March 31, 2020, the company has a total issued share capital of RMB 5.6 million, with 800,000,000 ordinary shares issued at a par value of USD 0.001 each[50]. - The average number of ordinary shares outstanding increased to 800 million for the three months ended March 31, 2020, from 600 million for the same period in 2019 due to a share issuance[22]. - Mr. Zhou holds 420,000,000 shares, representing 52.5% of the company's ordinary shares, through QY Investment Holding Limited[37]. - Ms. Song also holds 420,000,000 shares, representing 52.5% of the company's ordinary shares, through her interest in QY Investment Holding Limited[37]. - SRU Investment Limited and Mr. Fan each hold 120,000,000 shares, representing 15.0% of the company's ordinary shares[40]. Corporate Governance - The company has adopted the corporate governance code as per GEM Listing Rules, ensuring compliance and accountability[49]. - There were no reported non-compliance incidents by the board of directors during the three months ended March 31, 2020[46]. - The company confirms that there were no conflicts of interest or competition from directors or major shareholders during the reporting period[48]. - The company has maintained a high level of corporate governance to enhance shareholder value and accountability[49]. - The audit committee was established on October 21, 2019, chaired by independent non-executive director Mr. He Youguo, with members including independent non-executive directors Mr. Ye Guancheng and Mr. Huang Jianye[54]. - The audit committee reviewed the unaudited consolidated financial statements for the three months ended March 31, 2020, confirming compliance with applicable accounting standards and GEM listing rules[56]. - The board of directors includes executive directors Mr. Zhou Yang and Ms. Song Ruiqing, along with independent non-executive directors Mr. He Youguo, Mr. Huang Jianye, and Mr. Ye Guancheng[56]. Impact of COVID-19 - The company experienced a significant impact on its operations due to the COVID-19 pandemic, leading to a reduction in the number of projects undertaken[27]. - The company did not incur any listing expenses in Q1 2020, while it had incurred RMB 142,000 in the same period of 2019[4]. - Interest income for the three months ended March 31, 2020, was RMB 42,000, compared to RMB 21,000 for the same period in 2019[3]. - The company did not recommend any dividend payment for the three months ended March 31, 2020, consistent with the previous year[36]. - No stock options were granted, exercised, expired, or lapsed during the three months ended March 31, 2020[45].
旅橙文化(08627) - 2020 Q1 - 季度财报