Financial Performance - For the nine months ended September 30, 2022, the group's revenue decreased from approximately RMB 68,610,000 to approximately RMB 60,360,000, representing a decline of about 12.01% compared to the same period in 2021[5]. - The net loss for the nine months ended September 30, 2022, was approximately RMB 14,620,000[5]. - For the three months ended September 30, 2022, the revenue was RMB 21,093,000, compared to RMB 12,109,000 for the same period in 2021[7]. - The gross loss for the three months ended September 30, 2022, was RMB 820,000, compared to a gross loss of RMB 1,289,000 for the same period in 2021[7]. - The loss before tax for the nine months ended September 30, 2022, was RMB 14,393,000, compared to RMB 18,355,000 for the same period in 2021[7]. - The basic loss per share for the nine months ended September 30, 2022, was 1.37 cents, compared to 1.72 cents for the same period in 2021[7]. - The company did not recommend the payment of an interim dividend for the nine months ended September 30, 2022[5]. - The total revenue for the nine months ended September 30, 2022, was RMB 60,364,000, down from RMB 68,605,000 in the same period of 2021, indicating a decline of 12.0%[28]. - The company reported a loss of approximately RMB 14,620,000 for the period, a decrease of RMB 3,730,000 or 20.32% compared to the same period in 2021[61]. - The loss per share for the period was approximately RMB 1.37, compared to RMB 1.72 in the previous year[62]. Expenses and Costs - Administrative expenses for the nine months ended September 30, 2022, were RMB 7,605,000, down from RMB 11,703,000 in the same period of 2021[7]. - The total employee costs for the three months ended September 30, 2022, were RMB 8,695,000, compared to RMB 4,026,000 in the same period of 2021, showing a significant increase of 116.6%[39]. - Research and development costs recognized as expenses for the nine months ended September 30, 2022, were RMB 424,000, compared to RMB 212,000 in the same period of 2021, indicating a 100.0% increase[39]. - Sales and distribution costs surged by approximately RMB 1,270,000 or 116.21%, mainly due to increased transportation and freight costs associated with higher export sales[55]. - Administrative expenses decreased by approximately RMB 4,100,000 or 35.02%, primarily due to the reversal of excess provisions for trade receivables from the previous year[56]. Revenue Sources - Domestic sales of woven fabrics decreased by approximately RMB 21,580,000 or 28.16%, while subcontracting income also fell by approximately RMB 3,710,000 or 59.83% due to sporadic COVID-19 outbreaks in China[64]. - Government subsidies received during the nine months ended September 30, 2022, amounted to RMB 119,000, consistent with the previous year, which also received RMB 119,000[30]. - The company reported a net gain from foreign exchange of RMB 12,000 for the nine months ended September 30, 2022, compared to a loss of RMB 76,000 in the same period of 2021[28]. Business Operations and Strategy - The group primarily engages in the manufacturing, research and development, and sales of woven fabrics, as well as providing subcontracting and asset management services[23]. - The company plans to continue developing new sales channels and researching high-quality products to attract high-end customers amid a challenging business environment[64]. - The company continued to innovate and develop new products to meet customer demands and enhance sales orders during the nine-month period ending September 30, 2022[69]. - The company actively prepared to participate in various trade fairs in China to increase its visibility in the textile market and promote new products during the nine-month period ending September 30, 2022[70]. - The board anticipates that woven fabric exports will gradually return to pre-pandemic levels, while high-end women's woven fabric is expected to experience significant market volatility[71]. - The company aims to implement effective measures to increase sales, reduce costs, enhance liquidity, and make capital expenditures based on its core business[71]. Shareholder Information - As of September 30, 2022, the major shareholder, Guizhou Yongli, holds 588,000,000 shares, representing 55.29% of the total issued shares[77]. - The company’s H shares, with a par value of RMB 0.1, had a major shareholder, Everbright Group (Hong Kong), holding 208,530,000 shares, which is approximately 43.85% of the H shares[82]. - No directors, supervisors, or controlling shareholders have any interests in businesses that compete or may compete with the company during the review period[83]. Governance and Compliance - The Audit Committee has been established according to GEM Listing Rules and consists of three independent non-executive directors[84]. - The Audit Committee reviewed the unaudited financial results for the three months ended March 31, 2022, six months ended June 30, 2022, and nine months ended September 30, 2022, confirming compliance with applicable accounting standards and GEM Listing Rules[84]. - No purchase, sale, or redemption of the company's listed securities occurred during the nine months ended September 30, 2022[88].
浙江永安(08211) - 2022 Q3 - 季度财报