Financial Performance - Revenue increased by 9.2% to approximately RMB 120,276,000 for the nine months ended September 30, 2023, compared to RMB 110,137,000 in the same period of 2022[6] - Gross profit rose by 27.3% to approximately RMB 48,462,000, with a gross margin of 40.3%, up from 34.6% in 2022[6] - The company reported a profit attributable to equity holders of approximately RMB 6,244,000, a significant turnaround from a loss of RMB 363,000 in the same period last year[6] - Basic earnings per share were approximately RMB 0.16, compared to a loss per share of RMB 0.01 in the previous year[6] - Operating profit for the nine months was RMB 11,594,569, compared to RMB 4,630,274 in the same period of 2022[7] - The company’s total comprehensive income attributable to equity holders for the nine months was RMB 6,244,278, compared to a loss of RMB 362,655 in the same period last year[8] - For the nine months ended September 30, 2023, the company's revenue was approximately RMB 120,275,526, an increase of about RMB 10,138,817 or 9.2% compared to RMB 110,136,709 for the same period in 2022[27] - The profit attributable to equity holders for the nine months ended September 30, 2023, was approximately RMB 6,244,278, compared to a loss of approximately RMB 363,000 for the same period in 2022[30] Expenses and Costs - Research and development expenses increased to RMB 8,279,460 for the nine months, up from RMB 7,636,134 in the previous year[7] - Distribution costs for the nine months ended September 30, 2023, were approximately RMB 16,601,000, an increase of about RMB 2,401,000 or 16.9% from RMB 14,200,000 in the same period of 2022, primarily due to increased transportation costs[29] - Administrative expenses for the nine months ended September 30, 2023, were approximately RMB 13,650,000, an increase of about RMB 749,000 or 5.8% from RMB 12,901,000 in the same period of 2022, mainly due to rising labor and professional costs[29] - R&D expenses increased from approximately RMB 7,636,000 for the nine months ended September 30, 2022, to approximately RMB 8,279,000 for the same period in 2023, an increase of about RMB 643,000 or 8.4%, primarily due to the development of national energy-saving low-carbon materials[30] Business Operations - The company primarily engages in the development, production, and sale of bentonite fine chemicals, with a focus on paper chemicals and metallurgical pellets[10] - The sales of organic bentonite and inorganic gel contributed significantly to the revenue increase during the reporting period[27] - The company has undertaken two provincial-level new product development projects and has applied for six patents during the reporting period[26] - The company has established a key laboratory for the development and application of critical mineral materials in collaboration with Wuhan University of Technology[26] - The company continues to focus on promoting bentonite for paint and coatings, with significant growth in sales and profits for organic bentonite products[26] - The company is developing high-dispersion bentonite for high solid content and solvent-free coatings, achieving a solid content of up to 70% and eliminating the need for organic solvents during use[33] - The company aims to transition from traditional coatings to green coatings by strictly controlling VOC emissions during production and coating processes[31] - The company is leveraging its bentonite resources to assist paper companies in sustainable development through comprehensive resource utilization and environmental protection efforts[34] Equity and Dividends - The board of directors resolved not to declare any interim dividend for the nine months ended September 30, 2023, consistent with the previous year[6] - As of September 30, 2023, total equity attributable to equity holders was RMB 121,371,289, reflecting an increase from RMB 113,344,149 at the same time last year[8] - The company has maintained a public shareholding of at least 25% of its issued share capital during the reporting period[44] Taxation and Incentives - The company has received tax incentives with a rate of 15% for high-tech enterprises, valid for three years from December 1, 2020, to November 30, 2023[21] - The company has reported current tax expenses of RMB (657,871) for the nine months ended September 30, 2023, compared to a tax credit of RMB 170,503 for the same period in 2022[21] Corporate Governance - The audit committee has reviewed the unaudited condensed consolidated financial report for the nine months ended September 30, 2023, and agreed that the accounting treatment adopted is in compliance with current accounting standards and GEM listing rules[51] - The company has adhered to all applicable provisions of the corporate governance code, with some deviations noted in sections C.2.1 and C.1.8[46] - The audit committee consists of three independent non-executive directors, ensuring effective oversight of financial reporting and internal controls[49] - The company is committed to enhancing its internal control systems and continuous professional training for directors[46] - The chairman and CEO roles are currently held by the same individual, which the board believes provides strong leadership[46] Miscellaneous - No purchases, sales, or redemptions of the company's listed securities were conducted by the company or its subsidiaries during the reporting period[45] - There are no significant post-reporting period events as of the report date[52] - The company has not purchased any liability insurance for directors and officers due to ongoing considerations of proposals from different underwriters[47] - The company will issue the quarterly report for the nine months ended September 30, 2023, to shareholders and publish it on its website and the stock exchange[53]
长安仁恒(08139) - 2023 Q3 - 季度财报