南粤控股(01058) - 2022 Q3 - 季度财报

Announcement Overview Company Information and Announcement Purpose Namyue Holdings Limited (Stock Code: 01058) voluntarily released its unaudited financial information for the nine months ended September 30, 2022, to enhance corporate governance and transparency - The company is Namyue Holdings Limited, with stock code 01058[2][3] - This announcement is voluntary, aiming to improve corporate governance and transparency[3] Financial Summary Key Financial Indicators For the nine months ended September 30, 2022, the company's revenue significantly decreased by 52.6% year-on-year, shifting from profit to loss, with consolidated loss attributable to shareholders increasing by 213.8%, while total assets and shareholders' equity decreased compared to the end of 2021 Financial Summary for the Nine Months Ended September 30, 2022 | Indicator | As of Sep 30, 2022 (HKD Thousands) | As of Sep 30, 2021 (HKD Thousands) | Change (%) | | :-------------------------------------------- | :------------------------------- | :------------------------------- | :--------- | | Revenue | 75,074 | 158,334 | -52.6% | | Consolidated Loss Attributable to Shareholders | (30,772) | (9,806) | +213.8% | | | As of Sep 30, 2022 (HKD Thousands) | As of Dec 31, 2021 (HKD Thousands) | | | Total Assets | 187,952 | 228,284 | | | Shareholders' Equity | 139,207 | 174,536 | | Notes to Financial Information Explanation of Comparative Data The financial information for the year ended December 31, 2021, is for comparative purposes only and does not constitute statutory annual consolidated financial statements, though it is derived from statutory filings with the Companies Registrar, and the 2020 auditor's report was unqualified - Financial information for the year ended December 31, 2021, is for comparative purposes only and does not constitute the company's statutory annual consolidated financial statements for that year[6] - The auditor's report for the consolidated financial statements for the year ended December 31, 2020, was prepared with an unqualified opinion[6] Operating Performance Review Market Environment and Operating Strategy The upper leather market faces challenges of overcapacity, weak demand, and narrowing profit margins, prompting the Group to enhance product development, quality control, and optimize capacity for economies of scale, despite production decreases due to factory shutdowns caused by the epidemic - The upper leather market continues to face issues such as overcapacity, weak demand, and narrowing profit margins[7] - The Group continues to strengthen product development and design, implement full production process quality control, and enhance economies of scale through capacity optimization[7] - Factory operations in Suining County, Xuzhou, Jiangsu Province, were suspended for several weeks due to epidemic prevention and control measures, leading to a decrease in production volume[7] Production and Sales Data For the nine months ended September 30, 2022, both production and sales volumes of cow upper leather and wet blue leather significantly declined, with cow upper leather production and sales decreasing by 60.0% and 50.4% respectively, and wet blue leather production and sales both decreasing by 61.8% Production and Sales Volume for the Nine Months Ended September 30, 2022 | Product | Indicator | Sep 30, 2022 (Unit) | Sep 30, 2021 (Unit) | Change (%) | | :---------------- | :--------------------- | :------------------ | :------------------ | :--------- | | Cow Upper Leather | Total Production Volume | 3,844,299 Square Feet | 9,615,947 Square Feet | -60.0% | | | Total Sales Volume | 4,961,107 Square Feet | 10,010,767 Square Feet | -50.4% | | Wet Blue Leather | Production and Sales Volume | 1,801 Tons | 4,719 Tons | -61.8% | Detailed Financial Analysis Revenue Composition and Changes The Group's total turnover decreased by 52.6% year-on-year, primarily due to weak demand for cowhide products, with cow upper leather sales declining by 55.2% and wet blue leather and other product sales by 34.1% Turnover Composition for the Nine Months Ended September 30, 2022 | Product Category | Sep 30, 2022 (HKD Thousands) | Sep 30, 2021 (HKD Thousands) | Change (HKD Thousands) | Change (%) | | :------------------------ | :--------------------------- | :--------------------------- | :--------------------- | :--------- | | Consolidated Turnover | 75,074 | 158,334 | -83,260 | -52.6% | | Cow Upper Leather Sales Revenue | 62,311 | 138,981 | -76,670 | -55.2% | | Wet Blue Leather and Other Products | 12,763 | 19,353 | -6,590 | -34.1% | - The decline in turnover was primarily attributable to weak demand for cowhide products[9] Reasons for Increased Loss Consolidated loss attributable to company shareholders significantly increased by 213.8% year-on-year, mainly due to increased unit costs for cow upper leather, coupled with decreased sales volume and unit selling prices, resulting in a substantial loss for the Group - Consolidated loss attributable to company shareholders was approximately HKD 30,772,000, an increase of approximately HKD 20,966,000 or 213.8% compared to the same period last year[9] - The increased loss was primarily due to higher unit costs for cow upper leather, combined with decreased sales volume and unit selling prices for cow upper leather, leading to a significant loss for the Group[9] Important Disclaimer Disclaimer on Unaudited Financial Information The financial information in this announcement is unaudited and should not be considered an indication or guarantee of financial performance; shareholders and investors are advised to exercise caution when dealing in securities and consult professional advisors - The financial information for the nine months ended September 30, 2022, contained in this announcement has not been reviewed or audited by the company's independent auditor[10] - The information in this announcement should not be regarded as any indication or guarantee of the Group's financial performance for the nine months ended September 30, 2022[10] - Company shareholders and prospective investors are urged to exercise caution when dealing in the company's securities and to consult their own professional advisors if in doubt about their investment position[10] Board of Directors Information Board Member Composition As of the announcement date (October 31, 2022), the company's Board of Directors comprises two executive directors, two non-executive directors, and three independent non-executive directors - As of the announcement date (October 31, 2022), the company's Board of Directors consists of two executive directors (Mr. Zhou Hao and Mr. Sun Jun), two non-executive directors (Mr. Huang Junfeng and Mr. Kuang Hu), and three independent non-executive directors (Mr. Yang Wanli, Mr. Liang Lianchang, and Mr. Yang Ge)[11]