Financial Performance - Revenue for the first quarter of 2022 was RMB 15,736,000, a decrease of 46.5% compared to RMB 29,433,000 in the same period of 2021[16] - Gross profit for the first quarter of 2022 was RMB 9,249,000, down 44.3% from RMB 16,724,000 year-over-year[16] - Profit before tax for the first quarter of 2022 was RMB 2,463,000, a decline of 69.8% compared to RMB 8,168,000 in the first quarter of 2021[16] - Net profit attributable to owners of the company for the first quarter of 2022 was RMB 1,789,000, down 67.9% from RMB 5,572,000 in the same period last year[16] - Basic and diluted earnings per share for the first quarter of 2022 were RMB 0.22, compared to RMB 0.70 in the first quarter of 2021[16] - Total comprehensive income for the first quarter of 2022 was RMB 1,660,000, a decrease of 70.3% from RMB 5,594,000 in the same period of 2021[18] Expenses - Selling and distribution expenses for the first quarter of 2022 were RMB 2,289,000, a decrease from RMB 4,284,000 in the same period of 2021[16] - Administrative expenses for the first quarter of 2022 were RMB 4,934,000, compared to RMB 4,760,000 in the first quarter of 2021[16] - The company reported other income and gains of RMB 463,000 for the first quarter of 2022, down from RMB 520,000 in the previous year[16] - The company reported a total tax expense of RMB 674,000 for the three months ended March 31, 2022, compared to RMB 2,596,000 for the same period in 2021[30] - Income tax expense decreased by RMB 1.9 million or 74% from RMB 2.6 million in Q1 2021 to RMB 674,000 in Q1 2022 due to a reduction in pre-tax profit[47] Sales and Market Performance - Revenue from the mainland China market was RMB 15,340,000, while revenue from other jurisdictions was RMB 396,000 for the same period in 2022[27] - Revenue decreased by RMB 13.7 million or 46.5% from RMB 29.4 million in Q1 2021 to RMB 15.7 million in Q1 2022 due to a decline in total sales[38] - Total sales volume dropped from 396,000 bottles in Q1 2021 to 222,000 bottles in Q1 2022, with the average selling price per bottle decreasing from RMB 74.4 to RMB 71.0[38] Shareholder Information - Major shareholder Macmillan Equity holds 411,350,000 shares, representing 51.42% of the company[58] - Palgrave Enterprises, owned by another major shareholder, holds 173,180,000 shares, representing 21.65%[58] - The company’s issued share capital remained unchanged at RMB 674,000,000 as of March 31, 2022[20] Corporate Governance - The audit committee has reviewed the unaudited condensed consolidated financial results for the three months ended March 31, 2022, and found them compliant with applicable accounting standards and GEM listing rules[84] - The company has adopted a code of conduct for directors' securities transactions, confirming compliance by all directors during the reporting period[76] - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[82] Future Outlook - The company plans to launch a new gin series and several new products with the expected commencement of production at the new distillery in mid to late 2022[40] - The company remains cautiously optimistic about market recovery as COVID-19 impacts are expected to diminish[40] - The company has not provided specific future guidance or outlook in the current report[60] Stock Options - The company has a stock option plan adopted on June 1, 2018, allowing for the issuance of up to 80,000,000 shares, which is 10% of the total issued shares as of the listing date[62] - The total number of shares available for issuance under the share option scheme is 70,000,000, representing approximately 8.75% of the issued shares as of March 31, 2022[69] - As of March 31, 2022, the number of shares granted and unexercised under the share option scheme was 10,000,000 shares, accounting for about 1.25% of the issued shares[69] - The total number of share options exercised during the reporting period was 2,000,000[72] Miscellaneous - The company has not disclosed any new product or technology developments in the current report[60] - There are no updates on market expansion or acquisitions mentioned in the report[60] - The report indicates that there are no other significant strategies disclosed at this time[60] - The board of directors includes executive directors Chen Fang and Lin Wei Jie, and non-executive directors Zhou Hao and Zhang Ji Hang, along with independent non-executive directors He Zheng De, Lin Liang You, and Alec Peter Tracy[85] - The first quarter performance report for 2022 has been released[86]
怡园酒业(08146) - 2022 Q1 - 季度财报