Financial Performance - The company's revenue for the three months ended June 30, 2023, was RMB 14,514,000, a decrease of 31.5% compared to RMB 21,180,000 for the same period in 2022[4] - Gross profit for the same period was RMB 5,499,000, down 41.5% from RMB 9,443,000 year-over-year[4] - The company reported a loss before tax of RMB 2,378,000, compared to a profit of RMB 2,567,000 in the previous year[4] - The net loss attributable to owners of the company for the period was RMB 2,259,000, compared to a profit of RMB 2,007,000 in the same quarter of 2022[4] - The total comprehensive loss for the period was RMB 452,000, a significant decline from a total comprehensive income of RMB 4,178,000 in the prior year[4] - The company incurred administrative and other expenses of RMB 6,545,000, an increase of 23.9% from RMB 5,281,000 in the previous year[4] - The company recognized other income and gains of RMB 487,000, which is an increase from RMB 243,000 in the same period last year[4] - The company’s basic and diluted loss per share was RMB 1.42, compared to earnings per share of RMB 1.26 in the previous year[4] - Overall revenue decreased by approximately 31.5% to RMB 14.5 million from RMB 21.2 million in the same period last year, primarily due to a 44.6% drop in bentonite mining sales[35] - Overall gross profit decreased by 41.8% to RMB 5.5 million, with the gross profit margin declining to 37.9% from 44.6%[36] - The company reported a loss of RMB 2.3 million for the period, compared to a profit of RMB 2.0 million in the same period last year[44] Revenue Breakdown - Revenue from bentonite mining decreased by approximately 44.6% to RMB 10,022,000 compared to RMB 18,093,000 in the same period of 2022[27] - Wealth management service revenue increased to RMB 3,690,000, up 70.9% from RMB 2,158,000 in the same period of 2022[17] - Revenue from clients in mainland China (excluding Hong Kong) was RMB 10,300,000, down 44.0% from RMB 18,371,000 in the same period of 2022[18] - Financial services revenue rose by 45.2% to RMB 4.5 million, driven by a 71.0% increase in wealth management service income[35] Shareholder Information - Major shareholders include Mr. Zhang Qiang with 27,500,000 shares (17.28%) and Ms. Wang Jie with 27,500,000 shares (17.28%) due to spousal interest[59] - As of the report date, the company holds 34,235,118 shares (approximately 21.52% of total issued shares) and another entity holds 46,690,572 shares (approximately 29.34% of total issued shares), collectively owning about 55.06% of the company[76] Corporate Governance - The company maintains a public float of at least 25% as required by GEM listing rules[68] - The company has adopted the corporate governance code as per GEM listing rules and has complied with its provisions during the reporting period[61] - The board is responsible for maintaining effective internal controls and risk management systems, which are currently in place[69] - The audit committee has reviewed the unaudited condensed consolidated financial statements for the reporting period, confirming compliance with applicable international financial reporting standards[79] Legal and Compliance - The company has initiated legal proceedings to recover a total of approximately HKD 54.46 million in trade deposits from suppliers[71] - There were no interests held by directors or major shareholders in any competing businesses during the reporting period[63] - The company has established written guidelines for securities trading for senior management and specific individuals with access to inside information[62] Dividend Policy - The company did not declare any interim dividend for the three months ended June 30, 2023, consistent with the same period in 2022[25] - The company does not recommend the distribution of dividends for the reporting period, consistent with the previous year[49] Business Development - The wealth management business strategy included expanding and enhancing the quality of the sales team, achieving a 22.22% increase in team size[30] - The new business value of long-term insurance brokerage increased by approximately 12.42% compared to the same period in 2022[30] - New business value increased by 12.42% to HKD 1,014,000 compared to HKD 902,000 in the same period last year[31] - Policy renewal rate slightly improved to 99.51% from 99.48%, reflecting a 0.03% increase[31] - The number of agents increased by 22.22%, rising from 45 to 55 agents[31] Stock Options and Transactions - As of June 30, 2023, no stock options were granted, exercised, or canceled under the stock option plan[56] - The company has not purchased, sold, or redeemed any of its listed shares during the reporting period[66] - There were no major investments, acquisitions, or disposals during the reporting period[67] - The company has established a back-to-back guarantee agreement, pledging a total of RMB 20 million in deposits to secure a loan of RMB 19 million for the borrower, with a guarantee fee of 6% on the pledged amount[75]
倍搏集团(08331) - 2024 Q1 - 季度财报