Financial Performance - Revenue for the three months ended March 31, 2021, was RMB 51,922,000, representing an increase of 17.8% compared to RMB 44,259,000 for the same period in 2020[7] - Gross profit for the same period was RMB 14,691,000, up 23.4% from RMB 11,873,000 in 2020[7] - Operating profit increased to RMB 8,830,000, a rise of 55.5% from RMB 5,666,000 in the previous year[7] - Net profit for the period was RMB 6,409,000, compared to RMB 4,047,000 in 2020, marking a growth of 58.5%[7] - Total comprehensive income for the period was RMB 6,735,000, up from RMB 4,046,000 in the same quarter of the previous year[7] - Basic and diluted earnings per share increased to RMB 1.2, compared to RMB 0.90 for the same period last year[7] - The company reported other income of RMB 81,000 for the period, compared to RMB 23,000 in the previous year[7] - Financing costs increased to RMB 89,000 from RMB 52,000 in the previous year, reflecting a rise in financial expenses[7] - Revenue from the "Jazz Rabbit" brand products was RMB 46.2 million, an increase from RMB 39.3 million in the previous year, while non-branded products generated RMB 5.7 million compared to RMB 5.0 million[19] - The gross profit for the three months ended March 31, 2021, was RMB 31.6 million, up from RMB 28.8 million in the same period last year, indicating a strong demand for disposable plastic lunch boxes[20] - The company reported a profit attributable to equity holders of RMB 6.4 million for the three months ended March 31, 2021, compared to RMB 4.0 million in the same period of 2020[29] - Basic earnings per share for the three months ended March 31, 2021, were calculated based on 520.3 million shares, compared to 450.0 million shares in the previous year[29] - Profit for the period increased from approximately RMB 4.0 million to approximately RMB 6.4 million, an increase of approximately RMB 2.4 million or about 60.0%[44] Cost and Expenses - Cost of sales rose from approximately RMB 32.4 million to approximately RMB 37.2 million, an increase of approximately RMB 4.8 million or about 14.8%[36] - Administrative and other operating expenses decreased from approximately RMB 4.0 million to approximately RMB 3.3 million, a reduction of approximately RMB 0.7 million or about 17.5%[38] - Financing costs increased from approximately RMB 52,000 to approximately RMB 89,000, an increase of approximately RMB 37,000 or about 71.2%[42] - Income tax expenses rose from approximately RMB 1.6 million to approximately RMB 2.3 million, an increase of approximately RMB 0.7 million or about 43.8%[43] - The company incurred research and development costs of RMB 1.5 million during the period, reflecting ongoing investment in product innovation[20] - The company has reallocated R&D materials and reduced post-listing professional service costs, contributing to the decrease in administrative expenses[38] Shareholder Information - Major shareholders include Prize Investment Limited with a 50.25% stake and Merit Winner Limited with an 11.25% stake[51] - 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[45] Corporate Governance - The company has complied with the corporate governance code as per GEM listing rules during the reporting period[55] - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ended March 31, 2021, prior to submission to the board[59] - The audit committee consists of three independent non-executive directors, with Mr. Li Kui Long serving as the chairman[58] - No directors or major shareholders had any competing business interests as of March 31, 2021[55] - The company did not purchase, sell, or redeem any of its listed securities during the three months ended March 31, 2021[55] Future Outlook - The company anticipates continued growth driven by external opportunities and challenges, including the popularity of eco-friendly disposable plastic lunch boxes and advancements in production technology[33] - The management team believes the company is well-positioned to compete in the market and plans to utilize funds raised from the GEM listing to expand market share[33] - The company continues to focus on the design, development, production, and sales of disposable plastic food containers in China[15] - The company did not recommend any dividend payment for the three months ended March 31, 2021, consistent with the previous year[26] - The company has maintained its accounting policies consistent with those used in the previous financial year, ensuring transparency and reliability in financial reporting[2]
易和国际控股(08659) - 2021 Q1 - 季度财报