Financial Performance - For the nine months ended September 30, 2022, the revenue was approximately RMB 332.2 million, a decrease of about 11.2% compared to the corresponding period in 2021[6]. - The gross profit for the same period was approximately RMB 68.9 million, down about 5.8% from the previous year[6]. - The profit attributable to the owners of the company was approximately RMB 6.9 million, a decrease of approximately 40.8% compared to the corresponding period[6]. - The basic earnings per share for the period were approximately RMB 1.37, compared to RMB 2.32 in the corresponding period[6]. - The group recorded a revenue decline of 11.2% during the period, resulting in a minimal profit attributable to the company's owners[24]. - For the three months ended September 30, 2022, the group reported revenue of RMB 119,762 thousand, compared to RMB 123,304 thousand in the same period of 2021, reflecting a decrease of approximately 3.9%[26]. - The gross profit for the nine months ended September 30, 2022, was RMB 68,879 thousand, down from RMB 73,142 thousand in the previous year, indicating a decline of about 5.2%[26]. - Operating profit for the three months ended September 30, 2022, was RMB 6,774 thousand, significantly higher than RMB 3,103 thousand in the same period of 2021, representing an increase of approximately 118%[26]. - The net profit attributable to the company's owners for the nine months ended September 30, 2022, was RMB 6,871 thousand, down from RMB 11,605 thousand in the previous year, a decrease of about 40.3%[29]. - The total comprehensive income for the three months ended September 30, 2022, was RMB 3,030 thousand, compared to RMB 1,756 thousand in the same period of 2021, an increase of approximately 72.5%[29]. - Basic earnings per share for the three months ended September 30, 2022, was RMB 0.85, up from RMB 0.39 in the same period last year[56]. Revenue Sources - Revenue from overseas markets decreased by approximately 16.4%, primarily due to reduced demand in Pakistan, India, and other overseas markets[9]. - Revenue from domestic customers in China slightly decreased by about 8.2%, despite maintaining strong demand[9]. - Revenue from China was RMB 77,229,000, down 10% from RMB 85,856,000 year-on-year[43]. - Revenue from Pakistan increased by 18% to RMB 14,862,000 compared to RMB 12,633,000 in the same period last year[43]. Cost and Expenses - The cost of sales decreased by approximately RMB 37.5 million or about 12.5% to approximately RMB 263.3 million, mainly due to reduced production volume[10]. - Financial expenses increased by approximately RMB 1.8 million or 33.7% to approximately RMB 7.1 million, primarily due to increased interest expenses from higher bank borrowings[17]. - Other income and gains increased significantly by approximately RMB 4.0 million or 184.6% to approximately RMB 6.1 million, mainly due to foreign exchange gains[16]. - Other income for the three months ended September 30, 2022, was RMB 2,322,000, compared to RMB 1,743,000 in the same period last year[45]. Corporate Governance - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and internal controls[76]. - The company confirms compliance with the corporate governance code, except for the separation of the roles of Chairman and CEO, which are held by Mr. Sheng[75]. - The unaudited consolidated results for the period have been reviewed by the audit committee and deemed to comply with applicable accounting standards[79]. - The company is committed to high standards of corporate governance to protect shareholder interests and enhance company value[75]. Shareholder Information - As of September 30, 2022, Mr. Sheng holds 322,760,000 shares, representing 64.55% of the company's ordinary shares[63]. - Bright Commerce, a company wholly owned by Mr. Sheng, holds 239,950,000 shares, accounting for 47.99% of the total[67]. - The total number of issued shares as of September 30, 2022, is 500,000,000[64]. - No other directors or key executives hold any shares or related securities that require disclosure under the Securities and Futures Ordinance[66]. - The company has not issued any share options since adopting the share option plan in June 2017[59]. - No arrangements have been made for directors to acquire shares or securities of the company during the reporting period[72]. - The company has not identified any interests held by directors or major shareholders in competing businesses[72]. Future Outlook - The company plans to closely monitor product pricing and costs to maximize profit margins and maintain profitability amid challenging global economic conditions[24]. - The management remains optimistic about exploring new markets and seizing emerging opportunities in the decorative printing materials industry[24]. - The group will continue to focus on sustainable development strategies in China while monitoring potential developments in overseas markets[24].
盛龙锦秀国际(08481) - 2022 Q3 - 季度财报