Financial Performance - For the three months ended September 30, 2020, the group's revenue was RMB 2,401,000, a decrease of 85.2% compared to RMB 16,215,000 for the same period in 2019[4] - For the nine months ended September 30, 2020, the group's revenue was RMB 7,690,000, a decrease of 78.2% compared to RMB 35,304,000 for the same period in 2019[4] - The group reported a loss before tax of RMB 1,528,000 for the three months ended September 30, 2020, compared to a profit of RMB 6,709,000 for the same period in 2019[4] - The loss attributable to owners of the company for the three months ended September 30, 2020, was RMB 1,426,000, compared to a profit of RMB 4,562,000 for the same period in 2019[4] - The basic and diluted loss per share for the three months ended September 30, 2020, was RMB (0.18), compared to earnings of RMB 0.81 for the same period in 2019[4] - The total comprehensive loss for the nine months ended September 30, 2020, was RMB 3,503,000, compared to a total comprehensive income of RMB 9,583,000 for the same period in 2019[4] - The net loss for the nine months ended September 30, 2020, was approximately RMB 3.6 million, compared to a net profit of approximately RMB 9.9 million for the same period in 2019[27] Revenue Breakdown - Revenue from event management services for the nine months ended September 30, 2020, was RMB 3.0 million, a decrease from RMB 21.6 million in the same period of 2019[16] - Revenue from design and production services for the nine months ended September 30, 2020, was RMB 4.7 million, down from RMB 13.7 million for the same period in 2019[16] - The company's revenue decreased by approximately RMB 27.6 million or 78.2% from about RMB 35.3 million for the nine months ended September 30, 2019, to about RMB 7.7 million for the nine months ended September 30, 2020[30] Expenses and Costs - Employee benefits expenses increased due to a rise in the number of employees, contributing to the overall net loss[27] - The company recorded project costs of RMB 2.8 million for the nine months ended September 30, 2020, down from RMB 13.1 million in the same period of 2019[18] - Project costs decreased from approximately RMB 13.1 million for the nine months ended September 30, 2019, to about RMB 2.8 million for the nine months ended September 30, 2020, a reduction of approximately RMB 10.3 million or 78.6%[31] - Employee benefits expenses increased from approximately RMB 5.9 million for the nine months ended September 30, 2019, to about RMB 7.1 million for the nine months ended September 30, 2020, an increase of approximately RMB 1.3 million due to an increase in employee numbers[32] - Other operating expenses decreased from approximately RMB 2.2 million for the nine months ended September 30, 2019, to about RMB 1.7 million for the nine months ended September 30, 2020, due to a reduction in the number of projects undertaken[33] Dividends and Shareholder Information - The company did not recommend any dividend payment for the nine months ended September 30, 2020, consistent with 2019[22] - The board did not recommend the payment of any dividends for the nine months ended September 30, 2020[38] - Major shareholders include QY Investment Holding Limited, holding 420,000,000 shares, representing 52.5% of the company[40] Governance and Compliance - The company confirmed compliance with the GEM Listing Rules regarding securities trading by directors for the nine months ended September 30, 2020[51] - The company has adopted the corporate governance code as per GEM listing rules to enhance shareholder value and accountability[54] - The audit committee, established on October 21, 2019, includes independent non-executive directors and is responsible for reviewing financial information and internal controls[58] - The financial performance for the nine months ending September 30, 2020, has been reviewed by the audit committee and complies with applicable accounting standards[58] Cash and Financial Position - The group had cash and cash equivalents of RMB 21,283,000 as of September 30, 2020[6] Impact of COVID-19 - The company is closely monitoring the impact of the COVID-19 pandemic on its business and financial performance, with potential adjustments to its business plans as necessary[28] Other Financial Information - The company’s interest income for the nine months ended September 30, 2020, was RMB 130,000, compared to RMB 64,000 for the same period in 2019[16] - Financing costs remained relatively stable at approximately RMB 10,000 and RMB 8,000 for the nine months ended September 30, 2019, and 2020, respectively[36] - No further listing expenses will be recognized for the nine months ended September 30, 2020, following approximately RMB 0.4 million incurred for the nine months ended September 30, 2019[35] - The company has not granted, exercised, expired, or lapsed any share options under the share option scheme as of September 30, 2020[50] - The company has not applied any new or revised standards that have been issued but are not yet effective, and is currently assessing their impact[12] - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and have not been audited[11]
旅橙文化(08627) - 2020 Q3 - 季度财报