Financial Performance - The company reported revenue of RMB 4,796,000 for the three months ended March 31, 2021, representing a 138.5% increase compared to RMB 2,009,000 for the same period in 2020[3]. - Other income for the same period was RMB 368,000, up from RMB 42,000 in the previous year, indicating a significant growth[3]. - The company achieved a profit before tax of RMB 1,031,000, compared to a loss of RMB 2,046,000 in the prior year, marking a turnaround in financial performance[3]. - Net profit attributable to owners of the company was RMB 579,000, a recovery from a loss of RMB 1,761,000 in the same quarter of 2020[3]. - Basic and diluted earnings per share for the period were RMB 0.07, compared to a loss per share of RMB 0.22 in the previous year[3]. - The total comprehensive income for the period was RMB 583,000, compared to a loss of RMB 1,814,000 in the same quarter of 2020[3]. - The company reported a net profit of approximately RMB 579,000 for the three months ended March 31, 2021, compared to a net loss of approximately RMB 1.8 million for the same period in 2020, indicating a significant recovery[25]. - Revenue increased by approximately RMB 2.8 million or 139% to approximately RMB 4.8 million for the three months ended March 31, 2021, compared to approximately RMB 2.0 million for the same period in 2020[28]. Cost Management - The company reported a decrease in employee benefit expenses to RMB 2,445,000 from RMB 2,513,000 year-on-year, reflecting cost management efforts[3]. - Project costs increased by approximately RMB 0.8 million or 100% to approximately RMB 1.6 million for the three months ended March 31, 2021, aligning with the revenue growth[29]. - Employee benefits expenses remained stable at approximately RMB 2.5 million for 2020 and RMB 2.4 million for 2021, showing no significant change[30]. - The company experienced a decrease in other operating expenses from approximately RMB 1.1 million to approximately RMB 0.5 million for the three months ended March 31, 2021[31]. - Financing costs related to lease liabilities were RMB 2,000 for the three months ended March 31, 2020, and zero for the same period in 2021, indicating a reduction in leasing expenses[32]. Corporate Governance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance and transparency[9]. - The company has adopted the corporate governance code as per GEM Listing Rules, ensuring compliance with all applicable provisions[46]. - The audit committee, established on October 21, 2019, consists of independent non-executive directors, ensuring proper financial oversight and compliance[51]. - The company confirmed that all directors complied with the trading standards during the three months ended March 31, 2021, with no non-compliance incidents reported[43]. - The company is committed to enhancing corporate governance to protect and enhance shareholder value[46]. - There were no conflicts of interest reported among the directors and major shareholders during the three months ended March 31, 2021[45]. Shareholder Information - As of March 31, 2021, the company’s major shareholders, Mr. Zhou and Ms. Song, each hold 420,000,000 shares, representing 52.5% of the total equity[36]. - SRU Investment Limited and Mr. Fan each hold 120,000,000 shares, accounting for 15.0% of the total equity[39]. - The company has no major shareholders or other individuals holding registered interests in the company's shares as of March 31, 2021, apart from those disclosed[41]. - There were no purchases, sales, or redemptions of the company's listed securities by the company or any of its subsidiaries during the three months ended March 31, 2021[47]. - No stock options were granted, exercised, expired, or lapsed during the three months ended March 31, 2021, and there are no unexercised stock options under the plan[42]. Future Outlook - The company continues to focus on expanding its event management services and design and production services in the Chinese market[8]. - The company is cautiously planning a series of strategies to implement as the pandemic situation improves, anticipating a rebound in market demand[26]. - The board believes that the overall economic environment is gradually improving, which is expected to positively impact the company's financial performance in the near future[26]. Compliance and Audit - The financial performance for the first quarter ending March 31, 2021, has been reviewed by the audit committee and is compliant with applicable accounting standards and GEM listing rules[53]. - The financial results for the group are unaudited but have been adequately disclosed as per legal requirements[53].
旅橙文化(08627) - 2021 Q1 - 季度财报