Revenue Performance - For the three months ended March 31, 2022, the company's revenue was approximately HKD 23,405,000, a decrease of 55% compared to HKD 52,132,000 in the same period last year[3]. - The decrease in revenue was primarily due to weak demand for cowhide products[7]. Financial Loss - The company's attributable consolidated loss was approximately HKD 10,280,000, an increase of 125% from HKD 4,572,000 in the previous year[7]. Production and Sales Volume - Total production of cowhide leather was approximately 1,020,000 square feet, down 66% from approximately 3,060,000 square feet in the same period last year[6]. - Total sales volume of cowhide leather was approximately 1,280,000 square feet, a decrease of 66% compared to approximately 3,741,000 square feet in the previous year[6]. - The production of grey leather was approximately 78 tons, down 90% from approximately 806 tons in the same period last year[6]. - The sales of grey leather and other products were zero, a decline of 100% from approximately HKD 2,976,000 in the previous year[7]. Market Challenges - The company faced challenges such as overcapacity, weak demand, and narrowing profit margins in the leather market[6]. - The factory in Xuzhou, Jiangsu Province, experienced production stoppages for several weeks due to pandemic control measures, leading to a decrease in output[6]. Product Development - The company continues to strengthen product development and design while implementing quality control throughout the production process[6].
南粤控股(01058) - 2022 Q1 - 季度财报