Financial Performance - For the nine months ended September 30, 2022, the company reported revenue of RMB 51,957,000, a decrease of 21.6% compared to RMB 66,314,000 for the same period in 2021[17] - The gross profit for the nine months ended September 30, 2022, was RMB 31,606,000, down 15.8% from RMB 37,542,000 in the previous year[17] - The profit before tax for the nine months ended September 30, 2022, was RMB 8,219,000, a decrease of 25.5% compared to RMB 11,011,000 in 2021[17] - The net profit attributable to the owners of the company for the nine months ended September 30, 2022, was RMB 5,090,000, down 22.5% from RMB 6,564,000 in the same period last year[17] - The basic and diluted earnings per share for the nine months ended September 30, 2022, were RMB 0.64, compared to RMB 0.82 for the same period in 2021[17] - The total comprehensive income for the nine months ended September 30, 2022, was RMB 5,636,000, compared to RMB 5,932,000 in the previous year[19] - The company reported a foreign exchange gain of RMB 546,000 for the nine months ended September 30, 2022, compared to a loss of RMB 632,000 in the same period last year[19] - The revenue from the mainland China market for the nine months ended September 30, 2022, was RMB 51,449,000, down from RMB 65,269,000 in the previous year, indicating a decrease of about 21.1%[31] - The net profit for the nine months ended September 30, 2022, was RMB 6,564,000, compared to RMB 5,932,000 for the same period in 2021, reflecting an increase of approximately 10.7%[30] - The company recognized other income and net gains of RMB 1,272,000 for the nine months ended September 30, 2022, slightly down from RMB 1,374,000 in the same period of 2021[33] Taxation - The total tax expense for the nine months ended September 30, 2022, was RMB 3,129,000, representing an effective tax rate of 28.3% in mainland China[36] - The total tax expense for the three months ended September 30, 2022, was RMB 2,275,000, with an effective tax rate of 28.3% in mainland China[36] - The weighted average applicable tax rate for the nine months ended September 30, 2022, was 27.9%[36] - The pre-tax profit for the nine months ended September 30, 2021, was RMB 15,502,000, with a total tax expense of RMB 4,447,000[38] Shareholder Information - As of September 30, 2022, Macmillan Equity holds 411,350,000 shares, representing 51.38% of the company's equity[79] - Palgrave Enterprises Limited, owned by Ms. Wang Suiying, holds 173,180,000 shares, accounting for 21.63% of the company's equity[79] - The total number of stock options granted under the stock option plan as of September 30, 2022, is 13,000,000, which is approximately 1.62% of the issued shares[85] - The total number of shares available for issuance under the stock option plan is 67,000,000, representing about 8.37% of the issued shares as of September 30, 2022[85] Corporate Governance - The audit committee reviewed the unaudited consolidated financial performance for the nine months ended September 30, 2022, and found it compliant with applicable accounting standards and GEM listing rules[102] - The company has adopted a code of conduct for directors' securities transactions, confirming compliance by all directors for the nine months ended September 30, 2022[95] - The company has maintained high standards of corporate governance to protect shareholder interests and enhance corporate value[98] - The chairman and CEO roles are held by the same individual, which the board believes is appropriate for the company's overall interests[99] - There were no interests held by directors or major shareholders in any competing businesses as of September 30, 2022[93] Operational Insights - The company remains optimistic about future business recovery due to the gradual rebound in consumer demand driven by government economic recovery policies[58] - The company plans to continue its operations in wine production and distribution in Ningxia and Shanxi provinces, China[57] - The company experienced a slight decline in gross profit for the nine months ended September 30, 2022, due to the impact of COVID-19, but the average cost per bottle of wine decreased, leading to a slight increase in gross profit margin[57] Stock Options - The stock options granted during the nine months ended September 30, 2022, include 3,000,000 options granted on May 17, 2022[87] - The maximum percentage of stock options that can be exercised is 30% during specified vesting periods[89] - The exercise price for stock options granted is determined by the board but cannot be lower than the highest of the closing price on the grant date or the average closing price over the preceding five trading days[85] Dividend Information - The company declared a special final dividend of HKD 0.62 per share for the year 2021, amounting to RMB 4,000,000[41] - The company did not recommend any dividend for the nine months ended September 30, 2022[41] - The company did not recommend any dividend for Q3 2022, consistent with Q3 2021[70]
怡园酒业(08146) - 2022 Q3 - 季度财报