Loans and Financial Support - Jiashili Group Limited provided a total loan amount of RMB 165,300,000 to Fengjia as of December 31, 2021[2] - Loan A of RMB 15,300,000 was due on December 11, 2021, and Loan B of RMB 150,000,000 was due on January 17, 2022, with interest payable quarterly[3] - As of September 30, 2022, the outstanding principal and accrued interest for Loan B was approximately RMB 164.1 million[6] - The repayment date for both Loan A and Loan B has been extended to December 31, 2023, with adjustments to the interest repayment terms[5] - The loans were provided to support Fengjia in acquiring 100% equity of Kailan and for general operational purposes[6] - The loans to Fengjia amount to RMB 150,000,000, with an interest rate of 5% and due in December 2023, aimed at supporting the acquisition of Kailan[17] - The group has provided financial assistance totaling RMB 379,219,000 to its associates, exceeding the asset ratio of 8% as defined by the listing rules[17] - The advances to Kailan total RMB 106,351,000, which are unsecured and interest-free, aimed at facilitating its operations[17] - The group has a 45% equity interest in Quancheng, with a loan of RMB 16,000,000 provided to support its ongoing operations[20] - The group has a 5% equity interest in Guangdong Swiss乐, with advances totaling RMB 46,868,000, which are also unsecured and interest-free[20] Financial Performance - The revenue and net profit of Kailan for the fiscal year ending December 31, 2021, were approximately RMB 119.0 million and RMB 4.4 million, respectively[7] - For the eleven months ending November 30, 2022, Kailan's unaudited revenue and net profit were approximately RMB 258.4 million and RMB 18.2 million, showing significant growth compared to the previous year[7] - The increase in global wheat prices may provide Kailan with a cost advantage in flour production, potentially aiding in loan repayment[12] Compliance and Governance - The group has implemented measures to monitor and control credit risk associated with the loans, including appointing directors to oversee Kailan's operations[13] - The board believes that changing the repayment terms will not adversely affect the group's financial position and is in the best interest of the company and its shareholders[15] - The group has implemented remedial measures to strengthen compliance functions and ensure adherence to listing rules and regulations[24] - The board will appoint an additional executive director to the compliance team to enhance oversight and advice on compliance matters[26] - The compliance team will seek external legal advice for future proposed transactions to ensure regulatory compliance[26] - The board will discuss and review the company's internal control and compliance systems to identify any other deficiencies[6] - The board believes that implementing the follow-up actions and remedial measures will effectively prevent similar incidents from occurring again[6] - The company will continuously assess and strengthen its internal control procedures to ensure strict compliance with listing rules[6]
嘉士利集团(01285) - 2022 Q3 - 季度财报