Financial Performance - For the three months ended September 30, 2020, the company reported revenue of RMB 64,454,000, an increase of 12% compared to RMB 57,562,000 for the same period in 2019[6] - Gross profit for the same period was RMB 19,711,000, representing a 22% increase from RMB 16,162,000 year-over-year[6] - The operating profit for the three months ended September 30, 2020, was RMB 5,963,000, a decrease of 37% compared to RMB 9,445,000 in the previous year[6] - The net profit for the three months ended September 30, 2020, was RMB 4,442,000, down 36% from RMB 6,930,000 in the same quarter of 2019[6] - The total comprehensive income for the three months ended September 30, 2020, was RMB 5,818,000, compared to RMB 6,792,000 for the same period in 2019[6] - For the nine months ended September 30, 2020, the company achieved revenue of RMB 170,543,000, an increase of 9% from RMB 156,193,000 in the same period of 2019[6] - The gross profit for the nine months was RMB 50,985,000, up 13% from RMB 44,936,000 year-over-year[6] - The company reported a net profit of RMB 14,330,000 for the nine months ended September 30, 2020, which is consistent with RMB 14,346,000 in the previous year[6] - The total comprehensive income for the nine months was RMB 15,714,000, compared to RMB 14,199,000 for the same period in 2019[6] - The basic and diluted earnings per share for the three months ended September 30, 2020, were RMB 0.74, down from RMB 1.51 in the same quarter of 2019[6] Revenue Breakdown - The revenue from the "Jazz Rabbit" brand products for the nine months ended September 30, 2020, was RMB 151,948,000, representing an increase of 8.1% from RMB 139,822,000 in the same period of 2019[25] - The revenue from non-branded products for the three months ended September 30, 2020, was RMB 7,166,000, a significant increase of 45.2% compared to RMB 4,938,000 in the same period of 2019[25] Cost and Expenses - The gross profit for the nine months ended September 30, 2020, was RMB 170,543,000, compared to RMB 156,193,000 for the same period in 2019, reflecting a growth of 9.2%[25] - Selling costs increased by approximately RMB 8.3 million or about 7.5%, from approximately RMB 111.3 million for the nine months ended September 30, 2019, to approximately RMB 119.6 million for the same period in 2020[43] - Administrative and other operating expenses rose by approximately RMB 5.7 million or about 35.2%, from approximately RMB 16.3 million for the nine months ended September 30, 2019, to approximately RMB 22.1 million for the same period in 2020[44] - Research and development costs, including employee costs, for the nine months ended September 30, 2020, were RMB 4,287,000, down 28.6% from RMB 6,006,000 in the same period of 2019[26] - The total employee costs, including directors' remuneration, for the nine months ended September 30, 2020, were RMB 9,495,000, an increase of 5.5% from RMB 8,997,000 in the same period of 2019[26] Shareholder Information - As of the report date, Mr. Xu and Ms. Xu Liping each hold 301,500,000 shares of ordinary stock, representing 50.25% of the company's total shares[53] - Merit Winner Limited holds 67,500,000 shares, accounting for 11.25% of the company's total shares[57] - Sun Kong Investments (BVI) Limited owns 54,000,000 shares, which is 9.00% of the company's total shares[57] Dividends - The company declared a dividend of RMB 7,522,185 on July 2, 2020, to offset amounts receivable from the ultimate holding company[32] - No dividends were declared or proposed for the nine months ending September 30, 2020, compared to RMB 22,900,000 for the same period in 2019[64] Corporate Governance - The company has complied with the corporate governance code as per GEM Listing Rules Appendix 15[62] - There were no purchases, sales, or redemptions of the company's listed securities during the nine months ending September 30, 2020[61] - No conflicts of interest were reported among directors or major shareholders as of September 30, 2020[59] - The company has adopted a code of conduct for directors' securities transactions, adhering to GEM Listing Rules[63] - The company has not reported any violations of the securities trading regulations during the nine months ending September 30, 2020[63] - The audit committee has been established in accordance with the GEM listing rules, consisting of three independent non-executive directors[67] - The audit committee reviewed the unaudited consolidated financial statements for the nine months ended September 30, 2020, and confirmed compliance with applicable accounting standards and GEM listing rules[67] - The executive directors include Mr. Xu Youjiang, Ms. Xu Liping, and Mr. Zhang Yuansheng, while the independent non-executive directors are Mr. Li Kuilong, Mr. Liu Dajing, and Mr. Deng Zhihuang[68] Future Outlook - The company anticipates continued growth driven by the demand for environmentally friendly disposable plastic food containers and advancements in production technology[39] - The company plans to expand its market share by leveraging its experienced management team and enhancing brand promotion and sales channels[39] - The company faces competition from alternative products made from other materials, which may impact future growth[39] Capital Raising - The company raised approximately RMB 20.4 million through the issuance of 150,000,000 shares at HKD 0.4 per share during its listing on GEM on July 13, 2020[51]
易和国际控股(08659) - 2020 Q3 - 季度财报