Financial Performance - The group's revenue decreased from approximately RMB 14,946,000 to approximately RMB 12,082,000, representing a decline of about 19.16% year-on-year[3]. - The net loss for the period was approximately RMB 4,482,000[3]. - Gross profit for the period was RMB 349,000, compared to a gross loss of RMB 1,084,000 in the same period last year[4]. - The total comprehensive loss for the period was RMB 4,482,000, compared to RMB 4,577,000 in the same period last year[4]. - Basic and diluted loss per share was 0.42 cents, compared to 0.43 cents in the previous year[4]. - The company reported a loss for the period of approximately RMB 4,480,000, a slight decrease of about RMB 95,000 or 2.08% compared to the same period in 2022[40]. - Basic and diluted loss per share for the period was approximately RMB 0.42, compared to RMB 0.43 in the same period last year[41]. Revenue and Income - Revenue from the manufacturing and sales of woven fabrics was RMB 11,309,000, down from RMB 15,548,000 year-on-year[16]. - Other income and gains for the period were RMB 852,000, compared to RMB 2,595,000 in the previous year[4]. - Other income and gains decreased by approximately RMB 1,740,000 or about 67.17% compared to the same period in 2022, primarily due to high impairment losses on trade receivables in the previous year[34]. - The company received government subsidies of approximately RMB 40,000 for the three months ended March 31, 2023, consistent with the previous year[33]. - The company recognized rental income of approximately RMB 321,000, significantly up from RMB 77,000 in the same period last year[33]. Expenses - Administrative expenses increased to RMB 4,535,000 from RMB 4,107,000 year-on-year[4]. - Selling and distribution costs sharply decreased by approximately RMB 660,000 or about 66.67%, consistent with the decline in export sales[35]. - Administrative expenses increased by approximately RMB 430,000 or about 10.42%, mainly due to rental expenses for new sales offices[36]. - The financing costs for the period were RMB 579,000, slightly up from RMB 536,000 in the previous year[4]. - Financing costs for the period were approximately RMB 580,000, representing accrued interest on interest-free loans from the direct holding company[39]. Market Conditions and Challenges - Domestic and export sales of woven fabrics decreased by approximately 16.67% and 67.34% respectively during the reporting period[43]. - The company continues to face challenges from rising raw material, electricity, and labor costs, impacting manufacturing efficiency[43]. - The impact of the COVID-19 pandemic is expected to diminish, with management confident in future recovery and growth opportunities[47]. Strategic Focus and Future Outlook - The management emphasizes the importance of maintaining financial strength and plans to improve efficiency, reduce costs, and enhance liquidity[43]. - The company is focused on innovation and product development to meet customer demands and increase sales orders[45]. - The board is optimistic about a favorable external environment in the post-COVID-19 era and aims to maximize shareholder value while providing high-quality products[47]. - The company aims to create greater value for shareholders in the new fiscal year while striving for sustainable development[47]. Corporate Governance - The company has established an audit committee to review financial reporting procedures and internal controls, ensuring compliance with applicable accounting standards[54]. - The company has adopted a code of conduct for directors regarding securities trading, in compliance with GEM Listing Rules[55]. - No purchases, sales, or redemptions of the company's listed securities occurred during the three months ending March 31, 2023[56]. - The document will be available on the GEM website and the company's website for at least seven days from the publication date[58]. Shareholding Structure - As of March 31, 2023, Guizhou Yongli holds 100% of the domestic shares, representing approximately 55.29% of the total issued share capital[50].
浙江永安(08211) - 2023 Q1 - 季度财报