Financial Performance - For the three months ended March 31, 2023, revenue was approximately RMB 96.1 million, an increase of about 1.4% compared to the same period in 2022[5] - Gross profit for the same period was approximately RMB 20.0 million, representing an increase of approximately 30.8% from the corresponding period[5] - The loss attributable to the company's owners was approximately RMB 0.6 million, a significant improvement from a loss of approximately RMB 3.8 million in the same period last year[5] - Basic loss per share for the period was approximately RMB 0.13, compared to RMB 0.77 in the corresponding period[5] - Revenue for the first quarter of 2023 was RMB 96,068 thousand, a 1.4% increase from RMB 94,702 thousand in the same period of 2022[25] - Gross profit increased to RMB 20,026 thousand, up 30.5% from RMB 15,313 thousand year-over-year[25] - Operating profit turned positive at RMB 1,961 thousand compared to an operating loss of RMB 2,239 thousand in Q1 2022[25] - Net loss for the period was RMB 640 thousand, significantly improved from a net loss of RMB 3,845 thousand in the previous year[26] - The company reported a total comprehensive loss of RMB 1,682 thousand, compared to RMB 3,937 thousand in Q1 2022[26] - Basic and diluted loss per share improved to RMB 0.13 from RMB 0.77 in the previous year[25] - For the three months ended March 31, 2023, the company reported a loss attributable to owners of the company of RMB 640,000, compared to a loss of RMB 3,845,000 for the same period in 2022, representing a 83.4% improvement in losses year-over-year[46] - The basic and diluted loss per share for the current period was RMB 0.13, significantly improved from RMB 0.77 in the prior year period, indicating a reduction of 83.1%[46] Expenses and Costs - The gross profit margin increased to approximately 20.8% from 16.2% in the same period last year, driven by improved production efficiency[9] - Sales expenses decreased by approximately RMB 0.6 million or 7.6% to approximately RMB 6.5 million due to reduced licensing fees from related products[11] - Administrative expenses increased by approximately RMB 0.9 million or 7.8% to approximately RMB 12.4 million, primarily due to increased depreciation and amortization from office facility upgrades[12] - The company incurred depreciation and amortization expenses of RMB 8,603,000 for the three months ended March 31, 2023, compared to RMB 7,120,000 in the same period of 2022, reflecting an increase of 20.8%[41] - The company reported a total tax expense of RMB 86,000 for the current period, compared to a tax credit of RMB 636,000 in the prior year, indicating a shift from a tax benefit to a tax expense[43] Business Strategy and Operations - The company plans to enhance its R&D capabilities and optimize its product portfolio, colors, patterns, and specifications to improve product quality and customer satisfaction[23] - The company aims to explore opportunities to expand its business presence in the global decorative printing materials market and develop beneficial partnerships for overall business growth[23] - The company continues to focus on manufacturing and selling decorative printing materials, with all revenue generated from product sales in China[36] - The company had no significant investments or acquisitions during the period, maintaining a focus on operational efficiency and product quality control[20] Shareholder Information - As of March 31, 2023, the major shareholder, Mr. Sheng Yingming, holds 322,760,000 shares, representing 64.55% of the total shareholding[53] - Bright Commerce, a controlled entity of Mr. Sheng, holds 239,950,000 shares, accounting for 47.99% of the total shareholding[56] - The weighted average number of ordinary shares issued during the period remained constant at 500,000,000 shares[46] - The company has not granted any share options under its share option scheme since its adoption in June 2017[50] - The company did not recommend any interim dividend for the current period, consistent with the prior year[47] Corporate Governance - The company has adhered to all principles and code provisions of the corporate governance code, except for the separation of the roles of Chairman and CEO, which are currently held by the same individual[63] - The audit committee, consisting of three independent non-executive directors, is responsible for reviewing and supervising the company's financial reporting procedures and internal controls[64] - The unaudited consolidated results for the period have been reviewed by the audit committee, which confirmed that the report was prepared in accordance with applicable accounting standards and regulations[66] - The company has not engaged in any purchase, sale, or redemption of its listed securities during the period[51]
盛龙锦秀国际(08481) - 2023 Q1 - 季度财报