Revenue and Income - For the three months ended September 30, 2022, total revenue was RMB 10,168,795, a slight increase from RMB 10,100,697 in the same period of 2021, representing a growth of 0.7%[4] - Total income for the nine months ended September 30, 2022, was RMB 37,709,763, compared to RMB 33,202,327 for the same period in 2021, reflecting a growth of 13.5%[19] - The revenue from automotive financing leasing decreased to RMB 1,446,095 from RMB 2,214,254 year-on-year, representing a decline of approximately 34.6%[19] - Interest income from sale-leaseback arrangements for the nine months ended September 30, 2022, increased to RMB 20,454,090, up 38.5% from RMB 14,764,349 in the same period of 2021[4] - Interest income from sale-leaseback arrangements increased to RMB 6,072,266, up 31.4% from RMB 4,622,975 in the previous year[19] Profit and Earnings - The company reported a net profit of RMB 815,854 for the three months ended September 30, 2022, compared to RMB 1,562,259 in the same period of 2021, a decrease of 47.8%[6] - Basic earnings per share for the three months ended September 30, 2022, was RMB 0.09, down from RMB 0.16 in the same period of 2021, a decline of 43.8%[6] - The company's pre-tax profit decreased to approximately RMB 13 million for the reporting period, down from RMB 71 million in the same period last year[34] - The company’s basic earnings per share for the nine months ended September 30, 2022, was RMB 0.974, down from RMB 5.50 in the same period last year[27] Costs and Expenses - Financing lease income for the nine months ended September 30, 2022, was RMB 4,071,468, down 50.1% from RMB 8,317,253 in the same period of 2021[4] - The company’s financing costs for the nine months ended September 30, 2022, increased to RMB 14,391,344, up 84.8% from RMB 7,771,347 in the same period of 2021[4] - Employee costs for the nine months ended September 30, 2022, were RMB 6,052,632, down 32.3% from RMB 8,946,752 in the same period of 2021[4] - Other operating expenses totaled approximately RMB 96 million, a decrease of about 22.6% from RMB 124 million in the same period last year, mainly due to reduced costs in financing leasing consulting services[38] - The company’s total tax expense for the nine months ended September 30, 2022, was RMB 405 million, a decrease from RMB 1,317 million in the same period last year[25] Corporate Governance and Compliance - The group has complied with all corporate governance code provisions during the reporting period, except for deviation from provision C.2.1[47] - The group has adopted the GEM Listing Rules as its code of conduct for securities transactions, ensuring compliance by all directors and relevant employees during the reporting period[51] - The company did not declare or recommend any dividends during the reporting period, consistent with the same period last year[28] - The board did not recommend any dividend payment for the reporting period, consistent with the previous period[44] Future Outlook and Strategy - The company plans to continue expanding its financing lease and consulting services in China, focusing on enhancing operational efficiency and market reach[11] - The company continues to focus on expanding its financing leasing services and enhancing its operational efficiency to drive future growth[19] - The company expects that the adoption of new and revised International Financial Reporting Standards will not have a significant impact on its financial position or performance in the future[18] - The company has not early adopted any new or revised International Financial Reporting Standards that have been issued but are not yet effective as of the reporting date[18] Shareholding and Ownership - As of September 30, 2022, Mr. Zhou Dazhi held 600 million shares, representing approximately 62.5% of the company's issued share capital[52] - View Art Investment Limited, which is wholly owned by Mr. Zhou Dazhi, also holds 600 million shares, equating to a 62.5% ownership stake in the company[56] Financing and Debt - The increase in financing costs was mainly due to a significant rise in bank and other loan balances to approximately RMB 139.2 million at the end of the reporting period, compared to RMB 61.1 million at the same time last year[42] - The group's financing costs during the reporting period were approximately RMB 14.4 million, an increase of about 85.2% compared to RMB 7.8 million in the same period last year[42] - The estimated interest expense from financing lease customers decreased by approximately RMB 0.2 million compared to the same period last year[42] - The financing net amount under the leasing agreements with Client E was approximately RMB 46.1 million as of the fiscal year ending December 31, 2018, with a total contract yield of about 22.7%[58] - The financing net amount under the debt restructuring with Client E was approximately RMB 52.14 million, with a total contract yield of about 33.46%[58] - The average term of the financing leases with Client E was approximately 36 months before restructuring and 66 months after restructuring[58] - The related advances to Client E exceeded the asset ratio of 8% as defined by GEM Listing Rule 19.07(1)[58]
METROPOLIS CAP(08621) - 2022 Q3 - 季度财报