Financial Performance - The company recorded unaudited revenue of approximately RMB 13.8 million for the three months ended March 31, 2023, a decrease of about 20.2% compared to RMB 17.3 million for the same period in 2022[4]. - The unaudited loss for the three months ended March 31, 2023, was approximately RMB 1.8 million, an improvement from a loss of RMB 2.9 million for the same period in 2022[4]. - Basic loss per share for the three months ended March 31, 2023, was RMB 0.20, compared to RMB 0.34 for the same period in 2022[4]. - Gross profit for the three months ended March 31, 2023, was RMB 3.314 million, down from RMB 5.194 million in the same period of 2022[5]. - The company reported a total comprehensive loss of RMB 1.755 million for the three months ended March 31, 2023, compared to RMB 2.925 million for the same period in 2022[5]. - The revenue from sales of printed products was RMB 5.664 million, down from RMB 6.783 million in the previous year, representing a decline of approximately 16.5%[12]. - The revenue from sales of woven labels was RMB 2.671 million, a decrease of about 23.0% from RMB 3.472 million in the prior year[12]. - The company's gross profit margin decreased from approximately 30.0% for the three months ended March 31, 2022, to about 23.9% for the same period in 2023[25]. - The company reported a loss attributable to equity holders of RMB 1.721 million for the three months ended March 31, 2023, compared to a loss of RMB 2.924 million in the same period of 2022[19]. Expenses and Cost Management - Administrative expenses decreased to RMB 4.085 million for the three months ended March 31, 2023, from RMB 7.169 million in the same period of 2022[5]. - The sales cost for the three months ended March 31, 2023, decreased by approximately 13.2% or about RMB 1.6 million compared to the same period in 2022[25]. - Distribution and selling expenses increased from approximately RMB 0.9 million for the three months ended March 31, 2022, to approximately RMB 1.0 million for the same period in 2023, reflecting an increase of 11.11%[27]. - Administrative expenses decreased from approximately RMB 7.2 million for the three months ended March 31, 2022, to approximately RMB 4.1 million for the same period in 2023, a reduction of 43.06%[28]. Equity and Dividends - The total equity attributable to the owners of the company as of March 31, 2023, was RMB 48.285 million, down from RMB 56.749 million as of March 31, 2022[6]. - The board of directors decided not to declare an interim dividend for the three months ended March 31, 2023, consistent with the previous year[4]. - The company did not declare an interim dividend for the three months ended March 31, 2023, compared to zero for the same period in 2022[18]. Strategic Focus and Market Conditions - The company continues to focus on restructuring and optimizing its operations to enhance future performance[7]. - The company will focus more resources on marketing in China to attract potential customers and explore expanding its customer base to local and foreign apparel brands[24]. - The company is facing challenges due to a slowdown in economic growth in China, leading to a decrease in demand in the apparel market[22]. - The company continues to serve a large number of apparel brand companies, designated procurement companies, and apparel manufacturers in China[21]. Financial Management and Proceeds - The company's total liabilities decreased, reflecting improved financial management strategies[9]. - For the three months ended March 31, 2023, the group recorded other income and gains of approximately RMB 59,000, compared to RMB 18,000 for the same period in 2022, representing an increase of 227.78%[26]. - As of March 31, 2023, the net proceeds from the listing amounted to approximately HKD 37.6 million (equivalent to approximately RMB 32.7 million), with HKD 26.4 million already utilized[33]. - The planned use of the unutilized net proceeds includes developing RFID technology applications and upgrading IT systems, with expected timelines for completion by December 2023[35]. - The net proceeds from the placement amounted to approximately HKD 5.65 million, with a net amount of approximately HKD 5.41 million after deducting expenses[37]. - As of March 31, 2023, the unutilized portion of the placement proceeds is expected to be used for investments in suitable information technology companies or projects by December 2023[38]. Corporate Governance - The company has adopted a code of conduct for securities trading by directors, complying with GEM Listing Rules[46]. - The audit committee, consisting of independent non-executive directors, reviewed the unaudited consolidated financial statements for the three months ending March 31, 2023[51]. - The company has maintained compliance with corporate governance standards as per GEM Listing Rules since its listing on July 21, 2017[47]. - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and promote business growth[47]. - No significant contracts were entered into by the company or its subsidiaries during the three months ending March 31, 2023, where directors had a material interest[48]. - There are no known interests or potential conflicts of interest from controlling shareholders or directors in any competing businesses as of March 31, 2023[50]. Shareholding Structure - As of March 31, 2023, Mr. Lin holds 433,400,000 shares in the company, representing 50.99% of the total equity[40]. - Neo Concept, which is wholly owned by Mr. Lin, also holds 433,400,000 shares, accounting for 50.99% of the company's equity[43]. - Ms. Huang Qingyu, as Mr. Lin's spouse, is deemed to have an interest in the same 433,400,000 shares, also representing 50.99%[43]. Securities Transactions - No purchases, sales, or redemptions of the company's listed securities occurred during the three months ending March 31, 2023[45].
新达控股(08471) - 2023 Q1 - 季度财报