Revenue Performance - Revenue increased from RMB 22.8 million for the nine months ended September 30, 2022, to RMB 25.0 million for the nine months ended September 30, 2023, representing a growth of approximately 9.6%[6] - For the nine months ended September 30, 2023, total revenue reached RMB 25,000,210, an increase from RMB 22,820,281 in the same period of 2022, representing a growth of approximately 5.16%[77] - For the three months ended September 30, 2023, total revenue was RMB 8,135,291, an increase of 66.5% compared to RMB 4,881,806 for the same period in 2022[58] - Revenue from financing services was RMB 5.6 million for the nine months ended September 30, 2023, while revenue from vinegar and other condiments was RMB 2.7 million, contributing 10.9% to total revenue[6] - Revenue from packaging and paper products trade was RMB 16.6 million, accounting for 66.6% of total revenue for the nine months ended September 30, 2023[15] - Revenue from the sale of packaging and paper products was RMB 16,642,057 for the nine months ended September 30, 2023, compared to RMB 11,638,419 in 2022, marking a significant increase of 43.0%[77] Net Loss and Financial Performance - Net loss decreased from RMB 15.2 million for the nine months ended September 30, 2022, to RMB 11.6 million for the nine months ended September 30, 2023, a reduction of about 23.7%[6] - The net loss for the nine months ended September 30, 2023, was RMB 11,619,316, a decrease of 23.5% from RMB 15,231,325 in the same period of 2022[59] - The company reported a net loss of RMB 4,150,836 for the three months ended September 30, 2023, compared to a net loss of RMB 1,860,463 for the same period in 2022, representing an increase in loss of 122.4%[59] - The company reported a net loss before tax of RMB 10,470,752 for the nine months ended September 30, 2023, compared to a loss of RMB 7,110,694 in the previous year[77] - The company recorded a significant impairment loss of RMB 1,430,375 for the three months ended September 30, 2023, compared to a gain of RMB 362,711 in the same period of 2022[82] Operating Expenses - Operating expenses increased from RMB 8.3 million for the nine months ended September 30, 2022, to RMB 9.7 million for the nine months ended September 30, 2023, primarily due to an increase in employee costs and R&D expenses[21] - Sales expenses increased from RMB 1.5 million for the nine months ended September 30, 2022, to RMB 7.4 million for the nine months ended September 30, 2023, primarily due to the commencement of production and sales of vinegar and other condiments[24] - Operating expenses for the nine months ended September 30, 2023, totaled RMB 9,727,559, compared to RMB 8,265,572 in the same period of 2022, indicating an increase of 17.7%[77] - Employee costs for the three months ended September 30, 2023, totaled RMB 2,102,904, up 47.5% from RMB 1,425,225 in the same period of 2022[82] Tax and Interest Expenses - Interest expenses decreased from RMB 2.7 million for the nine months ended September 30, 2022, to RMB 0.9 million for the nine months ended September 30, 2023, due to a reduction in average loan balances[20] - Income tax expenses decreased from RMB 8.1 million for the nine months ended September 30, 2022, to RMB 1.1 million for the nine months ended September 30, 2023, due to the inability to confirm certain impairment losses for tax deduction[25] - The income tax expense for the three months ended September 30, 2023, was RMB 809,590, a decrease of 22.3% from RMB 1,041,062 in the same period of 2022[83] - The company experienced a decrease in the provision for current income tax for the nine months ended September 30, 2023, amounting to RMB 603,031, down from RMB 902,088 in the same period of 2022[83] Production and Market Expansion - The company has begun orderly production and sales of its self-produced products under the "Qiaoxin 1950" brand as of September 30, 2023[11] - The first phase of the company's factory has completed most of its fixed asset investments, with an annual production capacity of 10,000 tons of Yongchun old vinegar, ranking among the top factories in China[29] - The company is actively expanding its sales channels across six provinces in China, focusing on the Minnan market for sales and marketing efforts in the next fiscal year[31] - The company plans to utilize e-commerce platforms and new media for product marketing, aiming to significantly increase product visibility and reach a broader customer base[31] - The company is focusing on expanding its market presence in China through its diversified product offerings and strategic partnerships[74] Share Option Plan and Dividends - The company has adopted a share option plan effective from June 20, 2018, for a duration of 10 years, expiring on June 20, 2028[40] - The maximum number of shares that may be issued upon exercise of all outstanding options under the share option plan and any other plans shall not exceed 30% of the issued shares from time to time[42] - As of September 30, 2023, the company has no unexercised options under the share option plan[45] - The board does not recommend the payment of any dividends for the nine months ended September 30, 2023[46] - The company did not declare any dividends for the nine months ended September 30, 2023, consistent with the same period in 2022[87] Shareholder Information - As of September 30, 2023, major shareholders include Zhou Yongwei with 124,143,908 shares (45.98%) and Septwolves Holdings with 118,968,750 shares (44.06%)[54] - Total equity attributable to equity shareholders as of September 30, 2023, was RMB 241,094,947, a decrease from RMB 263,862,815 as of September 30, 2022[90] - The company has a total of 27,000,000 options available for grant, representing 10% of the total issued shares[42] - The maximum number of shares that may be issued in any 12-month period due to the exercise of options granted shall not exceed 1% of the issued shares at the end of that 12-month period[42] - The board has absolute discretion to determine the exercise price of the options, which cannot be lower than the closing price on the grant date[45] - No options have been granted, exercised, canceled, or lapsed since the adoption of the share option plan[45] - As of September 30, 2023, the company is not aware of any other individuals or entities holding interests that require disclosure under the Securities and Futures Ordinance[56] Comprehensive Income - Total comprehensive loss for the nine months ended September 30, 2023, was RMB 11,656,629, a decrease of 24.5% from RMB 15,467,922 in the same period of 2022[61] - The company reported a total comprehensive loss of RMB 11,691,764 for the nine months ended September 30, 2023, compared to a loss of RMB 15,534,275 for the same period in 2022[90] - Other comprehensive income for the three months ended September 30, 2023, included a foreign exchange loss of RMB (14,200) compared to RMB (76,265) for the same period in 2022[61]
百应控股(08525) - 2023 Q3 - 季度财报