Financial Performance - Revenue for the first quarter of 2023 was RMB 28,147,000, representing a 33% increase from RMB 21,165,000 in the same period of 2022[3] - Gross profit for the first quarter of 2023 was RMB 15,425,000, up 31% from RMB 11,734,000 year-over-year[3] - The company reported a loss before tax of RMB 815,000, an improvement from a loss of RMB 3,623,000 in the first quarter of 2022[3] - The loss attributable to equity holders of the company was RMB 969,000, compared to a loss of RMB 3,287,000 in the same quarter of the previous year[6] - The total comprehensive loss for the first quarter of 2023 was RMB 1,020,000, significantly lower than RMB 3,747,000 in the first quarter of 2022[3] - The basic and diluted loss per share for the first quarter was RMB 0.17, an improvement from RMB 0.59 in the same period of 2022[6] - The company recorded a net loss of RMB 815,000 for the three months ended March 31, 2023[22] - The company's revenue increased by approximately RMB 6.9 million to RMB 28.1 million for the three months ended March 31, 2023, representing a growth of 32.5% compared to the same period last year[43] - The company reported a loss of approximately RMB 815,000 for the three months ended March 31, 2023, a reduction from a loss of RMB 3.6 million in the same period last year[54] Revenue Sources - Revenue from online retail sales increased to RMB 24,855,000 in Q1 2023, up from RMB 19,645,000 in Q1 2022, representing a growth of 26.4%[26] - Total revenue for the three months ended March 31, 2023, was RMB 28,147,000, compared to RMB 21,165,000 for the same period in 2022, marking a year-on-year increase of 32.9%[26] - The luggage and accessories segment was the main sales driver, with revenue rising from RMB 4.0 million to RMB 10.0 million[43] - Online retail sales increased by 26.5% or RMB 5.2 million to RMB 24.9 million, accounting for 88.3% of total sales[47] Cost and Expenses - The cost of goods sold for the three months ended March 31, 2023, was RMB 12,590,000, compared to RMB 9,294,000 in the same period of 2022, reflecting a 35.5% increase[38] - Selling and distribution costs increased by RMB 1.4 million or 10.9% to RMB 14.2 million, but the increase was lower than the revenue growth[49] - Total employee costs for the three months ended March 31, 2023, were RMB 2.4 million, down from RMB 2.7 million in the same period last year[61] Strategic Focus - The company continues to focus on expanding its market presence and enhancing product offerings in the competitive landscape[11] - The company has closed its last wholesale store in Shanghai to focus resources on online platforms, reflecting a strategic shift towards e-commerce[43] Government Support and Resources - The company received government grants amounting to RMB 577,000 during the quarter[3] - The company expects to have sufficient resources to continue operating for the foreseeable future[22] Shareholder Information - As of March 31, 2023, Yen Sheng BVI holds a total of 291,838,960 shares, representing 52.1141% of the voting rights in the company[71] - Mr. Qiu Tai Liang and Mr. Qiu Tai Nian own approximately 49.3120% and 49.2321% of Yen Sheng BVI, respectively[76] Corporate Governance - The company has maintained compliance with the corporate governance code as per GEM Listing Rules during the reporting period[82] - The audit committee, consisting of three independent non-executive directors, reviewed the financial reporting process and risk management systems[89] - The company confirmed that all directors complied with the code of conduct regarding securities transactions during the reporting period[85] - There were no direct or indirect competitive business interests held by directors or controlling shareholders during the three months ended March 31, 2023[83] Dividend Information - The company did not recommend the payment of an interim dividend for the three months ended March 31, 2023[39] - The company did not declare an interim dividend for the three months ended March 31, 2023, compared to no dividend in 2022[77] Other Information - The company's cash and bank balance as of March 31, 2023, was RMB 3,326,000[22] - The company's non-current assets in China (excluding Hong Kong) increased to RMB 3,754,000 as of March 31, 2023, from RMB 3,206,000 as of December 31, 2022[33] - The company has no major customers contributing over 10% of total revenue for the three months ended March 31, 2023[34] - No share options have been granted, exercised, lapsed, or cancelled under the company's share option scheme since its adoption[78] - The company and its subsidiaries did not purchase, sell, or redeem any of the company's listed securities during the three months ended March 31, 2023[81] - The company has not disclosed any new product developments or market expansions in the report[90]
森浩集团(08285) - 2023 Q1 - 季度财报