Financial Performance - For the three months ended March 31, 2022, the group's revenue decreased from approximately RMB 16,788,000 to approximately RMB 14,946,000, a decline of about 10.97% compared to the same period in 2021[5]. - The net loss for the period was approximately RMB 4,577,000[7]. - Gross loss for the period was RMB 1,084,000, compared to a gross loss of RMB 153,000 in the same period last year[7]. - The loss before tax was RMB 4,010,000, compared to a loss of RMB 5,056,000 in the same period last year[7]. - Basic and diluted loss per share was 0.43 cents, compared to 0.48 cents in the same period last year[7]. - The gross loss for the same period was approximately RMB 1,080,000, primarily due to significant increases in raw material, labor, and electricity costs[48]. - The loss for the period was approximately RMB 4,577,000, a decrease of about RMB 479,000 or 9.47% compared to the same period in 2021, attributed to improved financial performance of the associates[56]. - Earnings per share for the period were approximately RMB 0.43, compared to RMB 0.48 in the previous year[57]. Administrative and Other Expenses - Administrative expenses decreased from RMB 2,933,000 to RMB 1,794,000, a reduction of approximately 38.8%[7]. - Administrative expenses decreased by approximately RMB 1,140,000 or about 38.83%, mainly due to the reversal of excess provisions for expected credit losses on trade receivables from 2021[51]. - The financing costs increased slightly from RMB 476,000 to RMB 536,000[7]. - The financing cost for the three months ended March 31, 2022, was RMB 536,000, an increase from RMB 476,000 in the same period of 2021[31]. - Other income and gains decreased by approximately RMB 78,000 or about 21.67% compared to the same period in 2021, as there were no refunds of retirement benefit plan contributions during this period[49]. - The company reported other income and gains of RMB 282,000, down from RMB 360,000 in the previous year[7]. Dividend and Shareholder Information - The board of directors did not recommend the payment of an interim dividend for the three months ended March 31, 2022[5]. - The company did not recommend the payment of an interim dividend for the three months ended March 31, 2022[38]. - The company holds a 55.29% equity interest in Guizhou Yong'an, represented by 588,000,000 shares[68]. - As of March 31, 2022, Yongxing Group (Hong Kong) owns approximately 43.85% of the company's issued H shares, totaling 208,530,000 shares[71]. Sales and Market Conditions - Domestic and export sales of woven fabrics decreased by approximately RMB 726,000 or about 4.46%, with subcontracting revenue also declining by approximately RMB 1,120,000 or about 217.12% due to COVID-19 impacts[58]. - The company experienced a significant decline in demand for its products due to the COVID-19 pandemic, affecting both local and overseas customers[48]. - Selling and distribution costs surged by approximately RMB 693,000 or about 228.71%, mainly due to increased logistics and freight costs[49]. - The board anticipates significant market volatility for high-end women's woven fabrics, despite an increase in sales orders during the period[62]. Strategic Initiatives - The company continues to innovate and develop new products to meet customer demands and enhance sales orders[61]. - The company is committed to maintaining financial strength and will continue to implement measures to improve efficiency, reduce costs, and enhance liquidity[58]. - The company plans to undertake capital expenditures based on its core business to increase sales and reduce costs[62]. - New business in industrial circulating water treatment has been initiated, addressing issues such as scaling and corrosion, primarily targeting clients in the power, chemical, steel, and machinery manufacturing sectors[60]. Compliance and Audit - The audit committee has reviewed the unaudited financial results for the three months ending March 31, 2022, and confirmed compliance with applicable accounting standards and GEM listing rules[73]. - There were no purchases, sales, or redemptions of the company's listed securities during the three-month period ending March 31, 2022[77].
浙江永安(08211) - 2022 Q1 - 季度财报