Compliance and Governance - The first quarterly report for 2022 indicates that China Singyes New Materials Holdings Limited is committed to providing accurate and complete information in compliance with GEM Listing Rules[5]. - The report emphasizes the directors' responsibility for the accuracy of the information provided, highlighting the company's commitment to transparency[8]. - The company has maintained compliance with the Corporate Governance Code, except for a deviation regarding the roles of Chairman and Chief Executive Officer being held by the same individual[111]. - The company has established an Audit Committee consisting of three independent non-executive Directors to oversee financial reporting and risk management[116]. - The Audit Committee has reviewed the financial reporting process and confirmed compliance with applicable accounting principles for the unaudited consolidated financial statements for the three months ended March 31, 2022[118]. - The company has confirmed that all Directors complied with the required standards of dealings regarding securities transactions during the relevant period[112]. - The company emphasizes the importance of good corporate governance in its management structures and internal control procedures[110]. Financial Performance - Revenue for the three months ended March 31, 2022, was RMB 16,335,000, a decrease of 15.8% compared to RMB 19,384,000 for the same period in 2021[21]. - Gross profit for the same period was RMB 1,331,000, down 66.0% from RMB 3,912,000 in 2021[21]. - Loss before tax for Q1 2022 was RMB 1,795,000, compared to a profit of RMB 381,000 in Q1 2021[21]. - The company reported a loss for the period of RMB 1,491,000, a significant decline from a profit of RMB 285,000 in the previous year[21]. - Total comprehensive loss for the period was RMB 685,000, compared to a comprehensive income of RMB 1,003,000 in Q1 2021[21]. - Basic and diluted loss per share for Q1 2022 was RMB (0.004), compared to earnings per share of RMB 0.001 in Q1 2021[21]. - Other income and gains increased to RMB 3,593,000 in Q1 2022 from RMB 3,296,000 in the same period last year, reflecting a growth of 9.1%[21]. - Selling and distribution expenses decreased to RMB 1,636,000 from RMB 2,009,000, a reduction of 18.6% year-over-year[21]. - Administrative expenses rose to RMB 4,358,000, up 14.4% from RMB 3,808,000 in Q1 2021[21]. - The company experienced a foreign exchange gain of RMB 264,000 in Q1 2022, compared to a loss of RMB 236,000 in the same period last year[21]. Revenue Breakdown - Revenue from the sale of ITO film was RMB 8,079,000, down 14.3% from RMB 9,422,000 in the previous year[44]. - Revenue from Smart PDLC products was RMB 7,593,000, a decrease of 11.0% compared to RMB 8,561,000 in the same period last year[44]. - Revenue from LED Display and Projection System was RMB 0, down from RMB 964,000 in the previous year, indicating a complete cessation of this revenue stream[44]. - Domestic revenue from Mainland China was RMB 12,244,000, a decline of 30.7% from RMB 17,697,000 in the prior year[45]. - Revenue from other geographical markets increased to RMB 4,091,000, up 142.9% from RMB 1,687,000 in the same period last year[45]. Cost and Expenses - The cost of inventories sold for the three months ended March 31, 2022 was RMB 14,848,000, slightly down from RMB 15,026,000 in the same period of 2021[52]. - Employee benefit expenses for the three months ended March 31, 2022 totaled RMB 4,973,000, an increase from RMB 4,536,000 in the same period of 2021[52]. - The total tax credit for the period was RMB (304,000), compared to a tax expense of RMB 96,000 for the same period in 2021[55]. - The Group's deferred income released to profit or loss was RMB 124,000 for the three months ended March 31, 2022, compared to RMB 115,000 in the same period of 2021[47]. - The depreciation of property, plant, and equipment for the three months ended March 31, 2022 was RMB 1,997,000, down from RMB 2,654,000 in the same period of 2021[52]. - The Group's research costs for the three months ended March 31, 2022 were RMB 1,235,000, a decrease from RMB 1,778,000 in the same period of 2021[52]. Share Option Scheme - The company has adopted a Share Option Scheme allowing for the issuance of up to 10% of the total issued share capital, which amounts to 480,000,000 shares as of October 17, 2017[126]. - The maximum number of shares that can be issued to any eligible participant under the Share Option Scheme in any 12-month period is limited to 1% of the total issued shares unless approved by shareholders[132]. - The exercise price for share options must be at least the higher of the closing price on the date of grant or the average closing price for the five business days preceding the grant[139]. - The Share Option Scheme will remain in effect for ten years from October 17, 2017, expiring on the day before the tenth anniversary unless terminated earlier[140]. - The total number of outstanding share options as of March 31, 2022, was 7,790,000, with no options exercised during the period[147]. Shareholding Structure - As of March 31, 2022, Top Access Management Limited holds 324,324,325 shares, representing approximately 62.37% of the total shareholding[152]. - China Shuifa Singyes Energy Holdings Limited has an interest in a controlled corporation, also holding 324,324,325 shares, equating to 62.37%[152]. - Water Development (HK) Holdings Co., Limited, another controlled corporation, holds 324,324,325 shares, which is 62.37% of the shareholding[152]. - AMATA Limited is a beneficial owner of 40,000,000 shares, representing 7.69% of the total shareholding[154]. - Kunlun Holdings Group Limited holds 26,021,206 shares, which is 5.00% of the total shareholding[154]. - As of March 31, 2022, the total issued share capital is 520,000,000 shares[154]. - The interests and short positions of directors and chief executives have been disclosed according to the Securities and Futures Ordinance[156]. - The company has no other persons or corporations with interests in shares or underlying shares that require disclosure under the provisions of the Securities and Futures Ordinance[155]. - The percentage of shareholding is calculated based on the total issued shares as of March 31, 2022[154]. - The company maintains a register of interests as required by the Securities and Futures Ordinance[156].
水发兴业新材料(08073) - 2022 Q1 - 季度财报