Financial Performance - Revenue for the first quarter of 2022 was RMB 12,925,000, a decrease of 28.2% compared to RMB 18,006,000 in 2021[5] - The company reported a gross loss of RMB (1,291,000), a decline of 155.8% from a gross profit of RMB 2,313,000 in the previous year[5] - Operating loss increased by 77.6% to RMB (9,312,000) from RMB (5,242,000) year-over-year[5] - Loss before tax rose by 39.5% to RMB (13,357,000) compared to RMB (9,576,000) in the same period last year[5] - Basic and diluted loss per share was RMB (1.35), an increase of 36.6% from RMB (0.99) in the prior year[5] - EBITDA for the first quarter was RMB (460,000), a decline of 114.5% from RMB 3,172,000 in the previous year[7] - EBITDAF was RMB 230,000, down 80.7% from RMB 1,192,000 in the same period last year[7] - Adjusted EBITDAF was RMB 230,000, a decrease of 83.3% from RMB 1,374,000 in the previous year[7] - For the three months ended March 31, 2022, the total comprehensive loss amounted to RMB 13,023 thousand, compared to a loss of RMB 9,808 thousand for the same period in 2021, representing a year-over-year increase of approximately 32.5%[20] - Basic and diluted loss per share for the three months ended March 31, 2022, was RMB (1.35), compared to RMB (0.99) for the same period in 2021, indicating a 36.4% increase in loss per share[20] - The group recorded a gross loss of approximately RMB 1,300,000, compared to a gross profit of about RMB 2,300,000 in the same period last year, reflecting the adverse effects of the COVID-19 outbreak[46] - The group's net loss increased by approximately RMB 3,500,000 or about 36.6% to approximately RMB 13,200,000, aligning with the revenue decline[50] - The group recorded a total comprehensive loss of RMB 13,186 thousand for the period, compared to RMB 9,656 thousand in the previous year, reflecting a significant increase in losses[37] Revenue Breakdown - Revenue from resort operations for the three months ended March 31, 2022, was RMB 12,925 thousand, down 35.1% from RMB 20,055 thousand in the same period of 2021[31] - Revenue from room sales decreased to RMB 5,688 thousand in Q1 2022, a decline of 35.5% compared to RMB 8,747 thousand in Q1 2021[31] - The income from dining services for the three months ended March 31, 2022, was RMB 2,040 thousand, down 40.4% from RMB 3,420 thousand in the same period of 2021[31] - The group's revenue for the three months ended March 31, 2022, was approximately RMB 12,900,000, a decrease of about 35.6% compared to RMB 20,100,000 for the same period in 2021[39] - Revenue from the group's hot spring resort and hotel operations decreased by approximately 28.2% to about RMB 12,900,000, primarily due to the impact of COVID-19 on local cultural tourism demand[40] Occupancy and Room Rates - Average occupancy rate for luxury resorts was 39.6%, down from 59.1% in the previous year[14] - Average room rate for luxury resorts was RMB 819, slightly down from RMB 845 in the previous year[14] - The average room rate for the group's theme hotels slightly decreased from approximately RMB 336.8 to RMB 336.6, mainly due to reduced rates in mid-range and luxury resorts[40] Shareholder Information - As of March 31, 2022, the company had a total of 980,000,000 shares issued, with major shareholders holding significant stakes[54][58] - Mr. Han holds 336,500,000 shares, representing 34.84% of the total issued share capital[53][54] - Harvest Talent, a related corporation, holds 336,500,000 shares, accounting for 34.34% of the total issued share capital[57][58] - Phoenix Virtue Limited, fully owned by Add Hero Holdings Limited, holds 286,000,000 shares, which is 29.18% of the total issued share capital[61] - Mr. Li holds 97,500,000 shares, representing 9.95% of the total issued share capital[62] - The total number of shares held by Mr. Han and his spouse amounts to 341,400,000 shares, which is 34.84% of the total issued share capital[57][60] Corporate Governance - The company has adhered to the corporate governance code, except for the dual role of the Chairman and CEO held by Mr. Han, which the board believes enhances business planning and decision-making efficiency[66] - The company is committed to high standards of corporate governance to ensure sustainable growth and maximize shareholder value[66] - The company plans to regularly review the necessity of appointing different individuals for the roles of Chairman and CEO to maintain good corporate governance[66] Stock Options - The company has a stock option plan, with details on the options and their changes available in the "Stock Option Plan" section[56] - As of March 31, 2022, a total of 46,060,000 stock options were granted under the stock option plan, with an exercise price of HKD 0.62[69] - The stock options granted are subject to a vesting schedule, with 25% of the total shares to be issued exercisable from April 5, 2018, to April 4, 2025[71] - The total number of stock options exercised during the reporting period was zero, indicating no options were exercised[69] Business Operations - The company has not indicated any new product launches or market expansion strategies during this reporting period[28] - The group did not record any revenue from tourism property development during the period, attributed to weak demand in the general real estate market[43] - The company has not entered into any management contracts related to its business during the three months ending March 31, 2022[65] - There were no reported interests in competing businesses by directors or major shareholders during the same period[63] - The company did not purchase, redeem, or sell any of its securities during the three months ended March 31, 2022[71] Future Outlook - The group anticipates continued demand for health and wellness services as public awareness of health increases post-COVID-19[51] - Management plans to enhance the quality and brand recognition of the group's offerings, focusing on health and wellness as core business areas[51] - The group aims to expand its hotel portfolio domestically to diversify revenue sources further[51] Miscellaneous - The foreign exchange difference for the period was RMB 163 thousand, compared to a loss of RMB (152) thousand in the same period of 2021[20] - The company's total rentable room nights available, excluding rooms under renovation or maintenance, were reported[100] - The total already rented room nights, including complimentary stays for guests and owners, were highlighted[101] - The company's audit committee reviewed the unaudited consolidated financial performance for the three months ended March 31, 2022, ensuring compliance with applicable accounting standards[72]
古兜控股(08308) - 2022 Q1 - 季度财报