Financial Performance - Total revenue for the three months ended March 31, 2023, was RMB 10,576,338, a decrease of 38.5% compared to RMB 17,104,882 for the same period in 2022[4] - The company reported a net loss of RMB 1,419,507 for the three months ended March 31, 2023, compared to a profit of RMB 4,671,053 in the same period of 2022[5] - Basic loss per share for the period was RMB (0.1), compared to earnings of RMB 0.4 per share in 2022[5] - The company’s total comprehensive loss attributable to owners was RMB (1,402,559) for the period, compared to a profit of RMB 4,276,989 in the same period last year[5] - The company recorded a net loss of approximately RMB 1.4 million, a decrease of about RMB 6.1 million or 130.4% compared to a net profit of RMB 4.7 million in the same period last year[35] Revenue Sources - Financing lease income for the same period was RMB 241,679, down 85.7% from RMB 1,691,348 in 2022[4] - The financing lease income from automotive financing decreased significantly to RMB 241,679, down 85.7% from RMB 1,691,348 in the previous year[19] - Interest income from sale-and-leaseback arrangements was approximately RMB 3.9 million, a decrease of about 39.9% from RMB 6.6 million in the same period last year[34] Operating Expenses - Employee costs increased to RMB 2,900,817, up 22.5% from RMB 2,366,139 in the previous year[4] - Other operating expenses rose to RMB 6,206,635, significantly higher than RMB 2,355,847 in 2022[4] - Other operating expenses rose by approximately 163.5% to RMB 6.2 million from RMB 2.4 million in the same period last year, primarily due to increased costs in financing lease consulting services[40] Financing Costs - The company incurred financing costs of RMB 3,234,717, a decrease of 25.5% from RMB 4,340,271 in 2022[4] - The total financing costs amounted to RMB 3,234,717, a reduction of 25.5% from RMB 4,340,271 in the same quarter of 2022[20] - The financing cost decreased by approximately 25.5% to RMB 3.2 million from RMB 4.3 million in the same period last year due to reduced interest and fees on bank and other borrowings[44] Corporate Governance - The company did not declare or recommend any dividends during the reporting period, consistent with the previous year[27] - The company confirmed compliance with the corporate governance code, with the exception of deviation from code C.2.1[48] - The company has adopted the corporate governance code as its own governance code, ensuring transparency and accountability[48] - The board believes that Mr. Zhou Dawai serving as both chairman and CEO is in the best interest of the company[48] - The audit committee consists of three independent non-executive directors, ensuring oversight of the company's accounting principles and policies[61] Future Outlook - 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[17] - The company’s management anticipates that future periods will not be materially affected by the new accounting standards adopted[17] Business Development - The company established a new business entity in China to diversify its operations and broaden revenue sources[31] - The overall quality of the company's receivables is considered controllable, with expectations for further improvement in asset quality over time[34] Shareholder Information - Mr. Zhou Dawai holds 600,000,000 shares, representing approximately 62.5% of the company's issued share capital[52] - The company has not granted, exercised, canceled, or allowed any options to lapse under the share option scheme as of March 31, 2023[51] Miscellaneous - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[62] - The executive directors are Zhou Dawei and Zhou Hui, while the non-executive director is Zhou An, and the independent non-executive directors are Liu Zhongwei, Mo Luojian, and Lin Peicong[63] - The first quarter report for 2023 was presented[64]
METROPOLIS CAP(08621) - 2023 Q1 - 季度财报