Financial Performance - For the three months ended March 31, 2022, the revenue was approximately RMB 94.7 million, a decrease of about 5.3% compared to the same period in 2021[5] - The gross profit for the same period was approximately RMB 15.3 million, down approximately 27.9% from RMB 21.2 million in the corresponding period[10] - The loss attributable to the company's owners was approximately RMB 3.8 million, compared to a profit of approximately RMB 3.1 million in the corresponding period[18] - The basic loss per share for the period was approximately RMB 0.77, while the basic earnings per share for the corresponding period was approximately RMB 0.61[5] - The company recorded a slight revenue decline of 5.3% for the period, resulting in a loss attributable to shareholders[23] - Revenue for the three months ended March 31, 2022, was RMB 94,702 thousand, compared to RMB 99,965 thousand for the same period in 2021, indicating a decrease of approximately 5.3%[25] - The company reported a net loss of RMB 3,845 thousand for the current period, compared to a profit of RMB 3,062 thousand in the same period last year[27] - The total comprehensive loss for the period was RMB (3,937) thousand, compared to a total comprehensive income of RMB 2,872 thousand in the previous year[27] - Basic and diluted loss per share was RMB (0.77), compared to earnings of RMB 0.61 per share in the previous year[52] - Total revenue for the period was RMB 94,702,000, a decrease of 5% compared to RMB 99,965,000 in the same period last year[41] Expenses and Costs - The sales expenses increased by approximately RMB 0.4 million or 6.3% to approximately RMB 7.0 million due to higher salaries and benefits for sales staff[13] - Administrative expenses rose by approximately RMB 1.3 million or 12.5% to approximately RMB 11.5 million, primarily due to increased depreciation and amortization expenses from the new factory completed in 2021[14] - Financial expenses increased by approximately RMB 0.5 million or 31.5% to approximately RMB 2.2 million, primarily due to increased interest expenses from higher bank borrowings[16] - The increase in production costs was attributed to rising prices of key raw materials, increased depreciation and amortization expenses from new plant construction, and higher financing costs due to increased bank borrowings[23] - The depreciation and amortization expenses increased to RMB 7,120,000 from RMB 4,148,000, reflecting a rise of 72% year-on-year[45] Income and Gains - Other income and net other gains increased by approximately RMB 0.1 million or 5.2% to approximately RMB 1.0 million, mainly due to increased government subsidy income offset by foreign exchange losses[15] - The net financial expenses for the period were RMB 2,242 thousand, compared to RMB 1,705 thousand in the previous year, reflecting an increase in financing costs[25] - Other income and gains totaled RMB 996,000, slightly up from RMB 947,000 in the previous year[44] Market and Strategic Outlook - The company aims to closely monitor product pricing and costs to maximize profit margins and maintain profitability[23] - The management remains optimistic about capturing a larger market share in the decorative printing materials industry, focusing on sustainable development strategies in China and potential overseas markets[23] - The company will continue to explore new markets and seize emerging business opportunities[23] Corporate Governance and Structure - The company confirms compliance with corporate governance codes, except for the separation of the roles of Chairman and CEO[70] - The audit committee consists of three independent non-executive directors, responsible for reviewing financial reporting and internal controls[71] - The unaudited consolidated results for the period have been reviewed by the audit committee[74] Shareholding and Ownership - Bright Commerce holds 239,950,000 shares, representing 47.99% ownership[63] - Mr. Sheng holds 279,440,000 shares, representing 55.89% ownership[63] - Ms. Chen holds 279,440,000 shares as spouse, representing 55.89% ownership[63] - The weighted average number of ordinary shares issued during the period was 500,000,000[52] - The company has not engaged in any share buybacks or repurchases during the period[56] - The company has not established any arrangements for directors to acquire shares or debentures during the reporting period[67] Employment and Investments - The company had 413 employees as of March 31, 2022, a slight decrease from 417 employees as of December 31, 2021[20] - There were no significant investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures during the period[20] - The effective corporate tax rate for the group entities in China is 25%, while a subsidiary enjoys a preferential rate of 15% due to high-tech enterprise certification[48] - The company did not recommend any interim dividend for the period, consistent with the previous year[53]
盛龙锦秀国际(08481) - 2022 Q1 - 季度财报