Revenue Performance - Total revenue for the nine months ended September 30, 2022, was RMB 22.8 million, a decrease from RMB 24.9 million for the same period in 2021, primarily due to a reduction in financial services revenue by RMB 5.4 million [9]. - Revenue from financing leasing services was RMB 7.3 million, accounting for 31.8% of total revenue for the nine months ended September 30, 2022 [11]. - Revenue from factoring services was RMB 3.7 million, representing 16.4% of total revenue for the same period [12]. - Revenue from the sale of vinegar and other condiments was RMB 0.2 million, contributing 0.8% to total revenue [13]. - Revenue from packaging and paper products trade was RMB 11.6 million, accounting for 51.0% of total revenue for the nine months ended September 30, 2022 [17]. - The company reported a total of RMB 362,711 in impairment losses for receivables, indicating challenges in asset recovery [97]. - The revenue from the financial services segment accounted for the majority of the group's income, with finance lease services being the primary contributor [87]. - Total revenue for the reporting period was RMB 24,874,110, with a breakdown of RMB 16,615,474 from interest income and RMB 8,258,636 from sales of packaging and paper products [95]. Financial Performance - The group recorded a loss of RMB 17 million for the nine months ended September 30, 2021, and a loss of RMB 152 million for the nine months ended September 30, 2022, attributed to reduced interest income and increased tax expenses [29]. - The net loss for the nine months ended September 30, 2022, was RMB 15,231,325, compared to a net loss of RMB 1,730,842 for the same period in 2021 [70]. - The basic and diluted loss per share for the nine months ended September 30, 2022, was RMB 5.7, compared to RMB 0.7 for the same period in 2021 [70]. - The comprehensive income for the period was a loss of 15,467,922 RMB, compared to a loss of 1,768,415 RMB in the previous year [108]. - The company reported a net loss of 15,231,325 RMB for the nine months ended September 30, 2022, compared to a net loss of 1,730,842 RMB for the same period in 2021 [108]. Operating Expenses - Operating expenses decreased from RMB 89 million for the nine months ended September 30, 2021, to RMB 83 million for the nine months ended September 30, 2022 [23]. - Sales expenses increased from zero to RMB 15 million for the nine months ended September 30, 2022, mainly due to the launch of packaging and paper products trading and the manufacturing and sale of vinegar and other condiments [25]. - The company’s operating expenses for the nine months ended September 30, 2022, were RMB 8,265,572, slightly down from RMB 8,949,330 for the same period in 2021 [68]. - Operating expenses totaled RMB 8,949,330, reflecting a significant cost structure that impacted overall profitability [95]. Business Diversification - The company is actively seeking opportunities to expand into other business areas while continuing to focus on financing leasing and factoring services [8]. - The company established Fujian Yongchun Qiaoxin Brewing Co., Ltd. in April 2020 to diversify its business into vinegar production [8]. - The company is diversifying its business by investing in the vinegar production and sales industry, leveraging the unique brewing process and regional brand advantages of Yongchun vinegar [36]. - The group has diversified its business by establishing Fujian Baiying Paper Industry Co., Ltd. and Fujian Yongchun Qiaoxin Brewing Co., Ltd. to enhance its market presence in packaging and condiment products [87]. Shareholder Information - As of September 30, 2022, the company has granted options involving a total of 27,000,000 shares, accounting for 10% of all issued shares [45]. - The company’s share options plan was adopted on June 20, 2018, and is valid for a period of 10 years, expiring on June 20, 2028 [43]. - The maximum number of shares that may be issued upon the exercise of options granted under the share option plan is limited to 10% of the issued share capital as of the date of GEM listing [45]. - The board has absolute discretion to determine the exercise price of the options, which cannot be lower than the closing price on the date of the option offer [50]. - There are no unexercised options granted under the share option plan as of September 30, 2022 [50]. - The board does not recommend the payment of any dividends for the nine months ending September 30, 2022 [51]. - The company did not declare any dividends for the nine months ended September 30, 2022, compared to RMB 4,476,222 in dividends paid in the same period last year [105]. - As of September 30, 2022, the company’s major shareholders include Zijiang Capital Limited with a direct interest of approximately 14.06% and HDK Capital Limited with a direct interest of approximately 4.60% [57]. Tax and Interest Income - Interest expenses decreased from RMB 3.5 million for the nine months ended September 30, 2021, to RMB 2.7 million for the same period in 2022 [20]. - The total interest income for the nine months ended September 30, 2022, was RMB 11,014,401, compared to RMB 16,379,625 for the same period in 2021, showing a decrease of approximately 32.5% [91]. - The company recorded interest income of RMB 11,014,401 for the nine months ended September 30, 2022, down 32.5% from RMB 16,379,625 in the same period of 2021 [68]. - Tax expenses for the period included a current tax provision of RMB 902,088, with deferred tax adjustments resulting in a net tax expense of RMB 8,120,631 [99].
百应控股(08525) - 2022 Q3 - 季度财报