Financial Performance - For the three months ended June 30, 2023, the company reported a loss attributable to owners of approximately RMB 5,400,000, compared to a loss of RMB 3,300,000 for the same period in 2022, representing an increase in loss of 63.6%[3]. - The company recorded no revenue for the three months ended June 30, 2023, a decrease of 100% compared to revenue of approximately RMB 26,900,000 for the same period in 2022[3][11]. - Basic loss per share for the three months ended June 30, 2023, was approximately RMB 1.20, compared to RMB 0.73 for the same period in 2022, indicating a higher loss per share of 64.4%[9]. - The company incurred a pre-tax loss of RMB 5,397,000 for the three months ended June 30, 2023, compared to a pre-tax loss of RMB 2,807,000 in the same period of 2022, representing an increase in losses[23]. - The group reported a pre-tax loss of RMB 5,397,000 for the three months ended June 30, 2023, compared to a loss of RMB 3,270,000 for the same period in 2022, representing a 64.8% increase in loss year-over-year[37]. - Basic and diluted loss per share was RMB (1.20) cents for the three months ended June 30, 2023, compared to RMB (0.73) cents in 2022, indicating a 64.4% increase in loss per share[37]. - The group’s total accumulated losses increased to RMB (224,576,000) as of June 30, 2023, from RMB (219,179,000) as of April 1, 2023[40]. Expenses - Administrative expenses for the three months ended June 30, 2023, were approximately RMB 2,600,000, an increase of 48.5% from RMB 1,800,000 for the same period in 2022[9]. - The company’s administrative expenses increased to RMB 2,626,000 in the three months ended June 30, 2023, from RMB 1,768,000 in the same period of 2022[23]. - Financing costs increased significantly to RMB 1,594,000 in 2023 from RMB 553,000 in 2022, marking a 188.4% rise[32]. - The group’s financing costs included RMB 1,003,000 from convertible bonds and RMB 570,000 from other loan interests for the three months ended June 30, 2023[32]. Revenue and Sales - The gross profit margin for the three months ended June 30, 2022, was approximately 3.1%, while there was no gross profit recorded for the same period in 2023[7]. - The company did not record any sales expenses for the three months ended June 30, 2023, a decrease of 100% from approximately RMB 56,000 for the same period in 2022[9]. - For the three months ended June 30, 2023, the company reported no revenue from its main business activities, compared to RMB 26,907,000 in the same period of 2022[23][28]. Business Development - The company faced significant challenges in obtaining new business contracts due to strict COVID-19 lockdowns in China, which have now been lifted, allowing for renewed business development efforts[18]. - The company is actively seeking new business opportunities in the renewable energy sector following the easing of COVID-19 restrictions in China[18]. - The company is exploring the construction of a photovoltaic power station, a wind power station, and an energy storage station in Henan, China, to diversify its product offerings and provide stable revenue sources[19]. - The company is currently negotiating the remaining specifications for a photovoltaic power station in Inner Mongolia, which is expected to expand its business scope and provide long-term stable income[19]. - The company has signed a non-binding term sheet related to the construction of the photovoltaic power station in Inner Mongolia, indicating progress in its project development[19]. Shareholder Information - Major shareholders include Mr. Huang Bo with 86,825,934 shares (19.37%) and Ms. Li Yanyan with 59,094,406 shares (13.19%) as of June 30, 2023[46]. - The group did not declare any quarterly dividend for the three months ended June 30, 2023, similar to the previous year[39]. - The weighted average number of ordinary shares for calculating basic and diluted loss per share remained unchanged at 448,176,684 shares for both periods[37]. - As of June 30, 2023, the company has issued a total of 448,176,684 ordinary shares with a par value of HKD 0.5 each[48]. Corporate Governance - The audit committee consists of three independent non-executive directors, responsible for reviewing the effectiveness of internal controls and risk management systems[47]. - The board of directors includes four executive directors and three independent non-executive directors as of the report date[52]. - The company has adopted a code of conduct for securities transactions in compliance with GEM Listing Rules[52]. - There were no interests held by directors or their close associates in any competing businesses as of June 30, 2023[49]. Taxation - The group did not incur any income tax expenses in Hong Kong for the three months ended June 30, 2023, consistent with the previous year[34]. - The group’s subsidiaries in China benefited from a reduced corporate income tax rate of 15% under certain conditions, compared to the standard rate of 25%[34].
中国科技产业集团(08111) - 2024 Q1 - 季度财报