Financial Performance - Total revenue for the three months ended September 30, 2023, was RMB 11,904,661, an increase of 17.1% compared to RMB 10,168,795 for the same period in 2022[5] - The company reported a net profit of RMB 550,839 for the three months ended September 30, 2023, compared to a profit of RMB 815,854 in the same period of 2022, representing a decrease of 32.5%[7] - For the nine months ended September 30, 2023, total revenue was RMB 35,336,856, a decrease of about 6.3% from RMB 37,709,763 in the same period of 2022[19] - Basic earnings per share for the nine months ended September 30, 2023, was RMB 0.69, a decrease from RMB 0.10 in the same period of 2022[7] - The total comprehensive income for the nine months ended September 30, 2023, was RMB 6,575,617, compared to RMB 898,841 in the same period of 2022, indicating a substantial increase[7] Operating Expenses - The company incurred total operating expenses of RMB 8,400,070 for the three months ended September 30, 2023, compared to RMB 3,839,456 in the same period of 2022, reflecting a significant increase of 119.5%[5] - Employee costs for the three months ended September 30, 2023, totaled RMB 3,294,159, an increase from RMB 1,933,815 in the same period of 2022, representing a rise of approximately 70.4%[25] - The group recorded a total operating expense of RMB 84 million for the three months ended September 30, 2023, compared to RMB 38 million for the same period in 2022[27] - Other operating expenses for the reporting period were approximately RMB 24.2 million, an increase of about 151.4% from approximately RMB 9.6 million in the same period last year[45] Financing and Interest Income - Financing lease income for the nine months ended September 30, 2023, was RMB 390,984, down 9.1% from RMB 4,071,468 in the previous year[5] - The company’s interest income from financing lease consulting services increased to RMB 18,943,653 for the nine months ended September 30, 2023, up from RMB 10,556,574 in the previous year, marking an increase of 79.5%[5] - Interest income from automotive financing leases for the three months ended September 30, 2023, was RMB 96,395, down significantly from RMB 1,446,095 in 2022[19] - Interest income from sale-leaseback arrangements for the nine months ended September 30, 2023, was RMB 10,159,808, compared to RMB 20,454,090 in the same period of 2022, indicating a decline of approximately 50.4%[19] - The company’s financing costs for the three months ended September 30, 2023, were RMB 2,082,783, a decrease of 56.0% from RMB 4,723,533 in the same period of 2022[5] Asset Quality and Provisions - The company reported a loss provision of RMB 1,495,974 for factoring receivables for the three months ended September 30, 2023, compared to a loss provision of RMB 465,700 in the same period of 2022[5] - The net loss provision for lease receivables for the nine months ended September 30, 2023, was RMB (10,870,763), compared to a gain of RMB 5,771,019 in the same period of 2022, indicating a significant deterioration in asset quality[25] - The overall quality of the group's assets has improved, with expectations for further improvement in asset quality over time[36] Other Income - The company’s total other income for the nine months ended September 30, 2023, was RMB 4,610,544, significantly higher than RMB 1,515,001 in the previous year, representing an increase of 203.5%[5] - The company reported a total of RMB 2,993,542 in other income for the three months ended September 30, 2023, compared to RMB 616,399 in 2022, marking an increase of approximately 384.5%[21] - Other income for the reporting period was approximately RMB 4.6 million, an increase of about 204.3% compared to approximately RMB 1.5 million in the same period last year[42] Corporate Governance and Compliance - The company has complied with all corporate governance code provisions during the reporting period, except for a deviation noted in provision C.2.1[55] - The audit committee consists of three independent non-executive directors, ensuring oversight of the group's accounting principles and policies[71] Shareholder Information - As of September 30, 2023, Mr. Zhou Dawi holds a controlling interest in View Art Investment Limited, which owns approximately 62.5% of the company's issued share capital, equating to 600,000,000 shares[60] - Mr. Zhou Dawi is recognized as the beneficial owner of 10 shares in View Art Investment Limited, representing a 100% ownership[61] - No other directors or key executives hold any disclosed interests in the company's shares or related securities as of September 30, 2023[64] Future Expectations and Strategic Initiatives - 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 group has established a new trading entity in China to diversify its business and broaden revenue sources, aiming to create additional value for shareholders[38] - The group has actively reviewed its credit risk control system and implemented remedial measures to improve recovery from overdue customers[36] Dividends - The group did not declare or recommend any dividends during the reporting period, consistent with the previous year[32] - The company did not propose any dividend for the reporting period, consistent with the previous period[54] Subsequent Events - No significant subsequent events have occurred after the reporting period[53]
METROPOLIS CAP(08621) - 2023 Q3 - 季度财报