Financial Performance - For the three months ended September 30, 2022, the group recorded revenue of RMB 11.28 million, an increase of 4.9% compared to RMB 10.75 million for the same period in 2021[8] - The profit attributable to owners of the company for the same period was RMB 2.51 million, a turnaround from a loss of RMB 1.38 million in the previous year[8] - Basic earnings per share for the period was RMB 0.01, compared to a loss per share of RMB 0.01 for the same period last year[8] - Operating profit increased by 65.6% to RMB 6.37 million from RMB 3.85 million in the previous year[9] - EBITDA for the period was RMB 6.47 million, representing a 63.0% increase from RMB 3.97 million in the previous year[9] - The total comprehensive income for the period was RMB 2.94 million, compared to a loss of RMB 1.59 million in the previous year[10] - The company reported a foreign exchange gain of RMB 0.702 million from overseas operations, a significant increase from RMB 0.154 million in the previous year[9] - Revenue from educational facility leasing was RMB 10,447,000, up 7.7% from RMB 9,704,000 year-over-year[22] - The net foreign exchange gain for the three months ended September 30, 2022, was RMB 1,798,000, a significant increase of 2,800.0% compared to RMB 62,000 in the previous year[24] - The company’s total comprehensive income for the three months ended September 30, 2022, was RMB 2,940,000, compared to a total comprehensive loss of RMB 1,593,000 for the same period in 2021[12] Government Grants and Other Income - The company recognized government grants of RMB 0.2 million, which was not present in the previous year[9] - Other income increased significantly to RMB 1.91 million from RMB 0.126 million, marking an increase of 1,411.9%[9] - Other income surged by 1,411.9% from RMB 1.3 million in Q1 2022 to RMB 19.1 million in Q1 2023, mainly due to increased foreign exchange gains[41] - The company received government subsidies of RMB 200,000 during the period, recognizing its good corporate citizenship[35] Market Expansion and Development - The company plans to continue exploring market expansion opportunities and new product development strategies in the upcoming quarters[8] - The company plans to generate an additional rental income of RMB 32.9 million annually from the renovation of two dormitory buildings in the Eastern University City[49] Assets and Equity - As of September 30, 2022, the total equity attributable to owners was RMB 1,229,901,000, a slight decrease from RMB 1,231,479,000 as of July 1, 2021[12] - The company’s total assets as of September 30, 2022, were RMB 1,250,685,000, compared to RMB 1,247,745,000 as of June 30, 2022[12] Operational Changes - Employee costs decreased by 22.4% from RMB 16.3 million in Q1 2022 to RMB 12.7 million in Q1 2023, attributed to a reduction in workforce[36] - Interest expenses decreased by 26.9% from RMB 52.3 million in Q1 2022 to RMB 38.3 million in Q1 2023, as loan principal gradually reduced[44] Investments and Contracts - The company has entered into an agreement to purchase an investment property in Ulaanbaatar, Mongolia, for RMB 32.71 million, with RMB 23.01 million paid as of September 30, 2022, and the remaining RMB 9.70 million to be paid in installments upon completion stages[52] - The company has signed a construction contract for the renovation of two dormitories in Langfang City, with a contract amount of RMB 10.18 million, of which RMB 1.50 million has been paid as of September 30, 2022, and the remaining RMB 8.68 million will be paid according to the agreed terms[53] - The company is undertaking renovations on an investment property in Langfang City, estimated to cost RMB 174 million, with payments to be made based on fundraising capabilities[54] Governance and Compliance - The company has complied with the corporate governance code as per GEM listing rules during the reporting period[66] - The audit committee, consisting of three independent non-executive directors, reviewed the first-quarter results and confirmed compliance with applicable accounting standards[77] - The company continues to focus on governance and compliance as part of its operational strategy[78] - The company is committed to transparency and has made sufficient disclosures in accordance with GEM listing rules[77] Shareholding Structure - The company reported a significant shareholding structure, with Mr. Zhou holding 34.57% of the issued shares through Raffles and his spouse's interests[72] - Raffles, the direct holding company, has a total of 135,000,000 shares, representing 75% ownership by major shareholders[74] - Mr. Zhou's direct interest in Raffles is 22.17%, while he and his spouse jointly hold 9.93%[75] - As of September 30, 2022, no other individuals or entities were reported to hold 5% or more of the shares apart from those disclosed[74] - The total issued shares of the company as of September 30, 2022, were 180,000,000[75] Dividends and Acquisitions - The board has resolved not to declare any dividends for the period[62] - The company has not conducted any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the period[60] - The company has not disclosed any significant interests held by directors in any important transactions or contracts during the period[76]
东方大学城控股(08067) - 2023 Q1 - 季度财报