Financial Performance - For the three months ended September 30, 2022, the revenue was RMB 9,905,000, a decrease of 12.6% compared to RMB 11,333,000 for the same period in 2021[4]. - The gross loss for the nine months ended September 30, 2022, was RMB 5,157,000, compared to a gross loss of RMB 3,694,000 for the same period in 2021, indicating a worsening performance[4]. - The operating loss for the nine months ended September 30, 2022, was RMB 29,753,000, an increase from RMB 24,330,000 in the same period of 2021, reflecting higher operational challenges[4]. - The total comprehensive loss for the nine months ended September 30, 2022, was RMB 42,007,000, compared to RMB 38,495,000 for the same period in 2021, showing a continued trend of losses[6]. - The company reported a net loss of RMB 40,400,000 for the nine months ended September 30, 2022, compared to RMB 38,293,000 for the same period in 2021[4]. - The financing costs for the nine months ended September 30, 2022, were RMB 11,348,000, down from RMB 13,011,000 in the same period of 2021, indicating some improvement in financing efficiency[4]. - The company recorded other income of RMB 965,000 for the nine months ended September 30, 2022, compared to RMB 3,767,000 for the same period in 2021, reflecting a significant decline[4]. - The company incurred administrative expenses of RMB 21,045,000 for the nine months ended September 30, 2022, slightly down from RMB 22,777,000 in the same period of 2021, indicating cost control efforts[4]. - The company reported a loss per share of RMB 4.1 for the nine months ended September 30, 2022, compared to RMB 3.9 for the same period in 2021, indicating a deterioration in shareholder value[6]. - The company experienced a foreign exchange loss of RMB 1,607,000 for the nine months ended September 30, 2022, compared to a gain of RMB 198,000 in the same period of 2021, highlighting currency volatility impacts[6]. - The company's revenue for the nine months ended September 30, 2022, was approximately RMB 30 million, a decrease of about 33.2% compared to RMB 44.8 million for the same period in 2021[26]. - The net loss for the nine months ended September 30, 2022, was approximately RMB 40.4 million, compared to a net loss of approximately RMB 38.3 million for the same period in 2021[26]. - The group's total revenue for the period was approximately RMB 30,000,000, a decrease of about 33.2% from RMB 44,800,000 in the same period last year, mainly due to reduced income from hotel and resort operations and tourism property development[29]. - The group's gross loss for the period was approximately RMB 5,200,000, an increase of about RMB 1,500,000 compared to a gross loss of approximately RMB 3,700,000 in the same period last year, with a gross loss margin of approximately 17.2%[33]. - The group's loss before tax increased by approximately RMB 3,800,000 to about RMB 41,100,000 compared to a loss of approximately RMB 37,300,000 in the same period last year, primarily due to decreased revenue levels and reduced gross profit[34]. - Net loss for the period increased by approximately RMB 2,100,000 to about RMB 40,400,000, aligning with the revenue decline[36]. Revenue Breakdown - Revenue from the resort and hotel operations decreased by approximately 27.7% to about RMB 29.5 million during the period[27]. - Ticket revenue decreased by approximately 29.5% to about RMB 6 million compared to the previous year[27]. - Room revenue from themed hotels decreased by approximately 22.9% to about RMB 14.3 million compared to the previous year[27]. - Restaurant revenue decreased by approximately 33.0% to about RMB 5.2 million during the period[27]. - The average room rate increased slightly to approximately RMB 277.8 from RMB 273.9 in the previous year[27]. - The occupancy rate for the themed hotels slightly decreased to approximately 24.0% from 24.1% in the previous year[27]. - Revenue for the tourism property development business decreased by approximately 89.4% to about RMB 400,000 compared to RMB 4,000,000 for the nine months ended September 30, 2021, primarily due to a continued downturn in the overall real estate market[29][30]. - Revenue from the hot spring resort and hotel operations decreased by approximately RMB 11,300,000 or about 27.7% to approximately RMB 29,500,000, attributed to declines in room revenue, ticket sales, and dining income[29]. Shareholder Information - As of September 30, 2022, the company had a total of 980,000,000 shares issued, with Harvest Talent holding 336,500,000 shares, representing 34.34% of the issued share capital[46]. - Mrs. Han, as a spouse, holds rights to 350,900,000 shares, which is 35.81% of the total issued shares[46]. - Phoenix Virtue Limited and its controlling entities collectively hold 286,000,000 shares, accounting for 29.18% of the issued share capital[48]. - Fu An and Fu Nuo, as beneficial owners, hold 60,000,000 shares each, representing 6.12% of the total issued shares[49]. - Mr. Li Chao Wang has beneficial ownership of 97,500,000 shares, which is 9.95% of the total issued shares[49]. - Sky Success Ventures Limited and New Ray Developments Limited, both wholly owned by Mr. Tam Ka Wai, hold a combined total of 286,000,000 shares, representing 29.18% of the issued share capital[49]. Corporate Governance - The company has adopted a code of conduct for directors regarding securities trading, ensuring compliance with GEM listing rules[50]. - The company has maintained high standards of corporate governance, although it currently does not comply with the requirement to have at least one director of a different gender[54]. - No significant management or administrative contracts have been established or are in effect as of September 30, 2022[53]. - There are no reported interests or potential conflicts of interest from directors or major shareholders in competing businesses as of September 30, 2022[52]. Stock Options and Expenses - The company adopted a stock option plan on November 18, 2016, which became unconditional after listing, with a term of 10 years starting from December 9, 2016[56]. - As of September 30, 2022, a total of 63,700,000 stock options were granted, with 39,200,000 options exercised during the period[59]. - The exercise price for options granted on June 20, 2022, was set at HKD 0.1742, with a total of 15,100,000 options exercised[63]. - The fair value of the stock options estimated at the grant date was approximately HKD 5,000,000, equivalent to about HKD 0.09 per option[63]. - The company reported total expenses of approximately RMB 4,300,000 for the nine months ended September 30, 2022[63]. - No purchases, redemptions, or sales of the company's securities were made by the company or its subsidiaries during the nine months ended September 30, 2022[65]. Audit and Compliance - The audit committee reviewed the report and confirmed that the financial performance for the nine months ended September 30, 2022, was prepared in accordance with applicable accounting standards[66]. Future Outlook and Strategy - The company plans to continue focusing on the hotel industry and closely monitor market performance, while not planning to expand its property development business in the near future due to challenging conditions in the Chinese real estate market[40]. - The company has no new strategies or market expansions reported in the current documents[68]. - The company aims to achieve a revenue growth target of 20% for the next fiscal year, driven by increased tourist arrivals and enhanced service offerings[89]. - Future outlook remains positive with anticipated growth in domestic tourism, supported by government initiatives to promote local travel[89]. - The company is investing in technology upgrades to enhance customer experience and operational efficiency within its resorts[89]. - A strategic partnership with Guangdong Aoyuan is expected to bolster the development of new tourism projects within the region[76].
古兜控股(08308) - 2022 Q3 - 季度财报