Revenue and Profitability - Revenue for the three months ended September 30, 2022, was RMB 73,909,000, representing an increase from RMB 71,267,000 in the same period last year, a growth of 2.3%[8]. - Gross profit for the nine months ended September 30, 2022, was RMB 58,757,000, compared to RMB 55,084,000 for the same period last year, reflecting a growth of 4.9%[8]. - The operating profit for the three months ended September 30, 2022, was RMB 12,757,000, a decrease from RMB 13,591,000 in the previous year, indicating a decline of 6.1%[8]. - The net profit for the nine months ended September 30, 2022, was RMB 24,548,000, down from RMB 25,651,000 in the same period last year, a decrease of 4.3%[8]. - Basic and diluted earnings per share for the three months ended September 30, 2022, were RMB 1.21, compared to RMB 1.67 for the same period last year, a decline of 27.5%[8]. - The total comprehensive income for the three months ended September 30, 2022, was RMB 9,282,000, slightly lower than RMB 10,083,000 in the previous year, a decrease of 7.9%[8]. - The profit for the period was RMB 25,651 thousand, resulting in a total comprehensive income of RMB 25,699 thousand for the nine months ended September 30, 2022[16]. - Profit for the period decreased from approximately RMB 25.7 million to approximately RMB 24.5 million, a decline of approximately RMB 1.1 million or about 4.3%[60]. Expenses and Costs - The company incurred administrative and other operating expenses of RMB 14,545,000 for the nine months ended September 30, 2022, compared to RMB 11,222,000 in the previous year, an increase of 29.5%[8]. - Research and development costs, including employee costs, increased to RMB 5,311,000 for the nine months ended September 30, 2022, compared to RMB 4,344,000 in the same period of 2021, representing a growth of approximately 22%[37]. - Cost of sales rose from approximately RMB 135.7 million to approximately RMB 144.2 million, an increase of approximately RMB 8.5 million or about 6.3%[53]. - Administrative and other operating expenses increased from approximately RMB 11.2 million to approximately RMB 14.5 million, an increase of approximately RMB 3.3 million or about 29.6%[55]. Revenue Sources - For the nine months ended September 30, 2022, total revenue reached RMB 202,943 thousand, an increase of 6.6% compared to RMB 190,785 thousand for the same period in 2021[28]. - The revenue from the "Jazz Rabbit" brand products was RMB 183,342 thousand, up 6.5% from RMB 171,587 thousand year-over-year[28]. - Revenue from customized products for the nine months ended September 30, 2022, was RMB 67,477 thousand, a slight decrease from RMB 68,376 thousand in the previous year[28]. - For the nine months ended September 30, 2022, the company reported a revenue increase driven by higher demand for disposable plastic fast food boxes, with significant sales to both domestic and international markets[45]. Shareholder Information - As of September 30, 2022, Mr. Xu holds a total of 375,982,760 shares, representing approximately 50.23% of the company's total shares[63]. - Mr. Xu's controlled corporation, Prize Investment Limited, owns 301,500,000 shares, accounting for 40.28% of the total shares[69]. - The beneficial ownership of shares by major shareholders includes Mr. Xu with 74,482,760 shares, representing 9.95%[69]. - The company has a total of 67,500,000 shares held by Merit Winner Limited, representing 9.02% of the total shares[69]. - Sun Kong Investments holds 54,000,000 shares, which is 7.21% of the total shares[69]. Acquisitions and Investments - The group acquired 100% equity of Beijing Youpinhui for a total consideration of RMB 20,571,430, completed on April 27, 2022, to expand its business scope[47]. - The group agreed to acquire 100% of the issued share capital of Yizhen Media for a total consideration of RMB 72,000,000 (approximately HKD 86,400,000)[76]. - The acquisition will be settled through the issuance of 336,000,000 new shares to Mr. Xu and 72,000,000 new shares each to Yizhen Media and Mr. Gong[76]. - The acquisition of Youpinhui Investment Holdings was completed on June 1, 2022, for a consideration of HKD 18,500,000, paid through the issuance of 74,000,000 ordinary shares[79]. Compliance and Governance - The company has no known competition or conflict of interest involving its directors or major shareholders as of September 30, 2022[73]. - The company has not purchased, sold, or redeemed any of its listed securities during the nine months ending September 30, 2022[75]. - The company’s compliance advisor, Zhongyi Capital Limited, has no relevant interests in the group as of September 30, 2022[74]. - The audit committee reviewed the unaudited consolidated financial statements for the nine months ended September 30, 2022, prior to submission to the board for approval[85]. Taxation - The company has no tax provision due to no taxable profits generated in any jurisdiction for the nine months ended September 30, 2022[31]. - The company recognized a provision for income tax in China at a rate of 25% for the taxable profits of its subsidiaries[32]. Other Financial Information - The company reported a financing cost of RMB 54,000 for the three months ended September 30, 2022, which is an increase from RMB 49,000 in the same period last year[8]. - The company reported a foreign exchange gain of RMB 195,000 for the three months ended September 30, 2022, compared to a gain of RMB 40,000 in the same period last year[8]. - The company adjusted its acquisition agreement for Yizhen Film, reducing its equity interest from 35% to 10%, with a total consideration of RMB 20,571,430, which includes the issuance of 74,482,760 new shares[78]. - The company has adopted new accounting standards effective from January 1, 2022, which did not have a significant impact on the financial statements[23].
易和国际控股(08659) - 2022 Q3 - 季度财报