Financial Performance - Total revenue for the nine months ended December 31, 2023, was RMB 1,007,797 thousand, a decrease of 22.2% compared to RMB 1,295,419 thousand in the same period of 2022[4] - Gross profit increased to RMB 428,876 thousand, up 21% from RMB 354,521 thousand year-over-year[4] - Profit for the period reached RMB 280,207 thousand, representing a 22.3% increase from RMB 229,049 thousand in the prior year[6] - Basic and diluted earnings per share improved to RMB 0.041, compared to RMB 0.035 in the same period last year[6] - Revenue from the sale of explosives and provision of blasting operations was RMB 542,877 thousand, slightly down from RMB 545,951 thousand in 2022[12] - Revenue from non-ferrous metal mining and dressing industry income surged to RMB 353,325 thousand, an increase of 19.5% from RMB 295,555 thousand year-over-year[12] - Operating profit for the nine months was RMB 315,211 thousand, up from RMB 264,308 thousand in the previous year[4] - The company reported other income and gains of RMB 15,719 thousand, a decrease from RMB 17,630 thousand in the same period last year[4] - The total comprehensive income for the period was RMB 276,822 thousand, compared to RMB 229,240 thousand in the prior year[6] - The Group's revenue for the nine months ended 31 December 2023 was approximately RMB1,007.80 million, representing a decrease of approximately 22.2% compared to the corresponding period in the previous fiscal year[21] - The profit attributable to owners for the Period was approximately RMB144.50 million[24] - The total comprehensive income attributable to owners for the Period was approximately RMB139.13 million[25] - The basic profit per share for the Group was approximately RMB0.041 for the Period[22] - The Group's turnover for the quarterly period decreased by approximately 22.2% compared to the corresponding period in 2022[29] - Revenue from the income of non-ferrous metal mining and dressing industry increased by 19.6% compared to the same period last year[29] Taxation and Liabilities - Current tax for the period (EIT) was RMB28,232,000 for the nine months ended 31 December 2023, compared to RMB23,507,000 for the same period in 2022[15] - Deferred tax for the period was not applicable for both periods[15] - The Tajikistan subsidiary is exempt from corporate income tax for five years until November 2022, with applicable rates of 18% and 13% thereafter[14] - Three PRC subsidiaries recognized as New and Hi-tech Enterprises enjoy a preferential EIT rate of 15% for three years starting from their respective recognition dates[14] - The EIT rate for a subsidiary in Lhasa, Tibet, is 9% from 2015 to 2025[14] - The Group reported no material contingent liabilities as of December 31, 2023, consistent with the previous period[49] Assets and Liabilities - As of December 31, 2023, the Group's net assets amounted to approximately RMB 1,796.46 million, an increase from RMB 1,645.81 million as of March 31, 2023[35] - Current assets as of December 31, 2023, were approximately RMB 1,045.93 million, down from RMB 1,332.21 million as of March 31, 2023[35] - The Group's current liabilities amounted to approximately RMB 1,762.52 million as of December 31, 2023, compared to RMB 2,226.33 million as of March 31, 2023[35] - The Group's borrowings are secured by mining rights valued at approximately RMB 242.32 million as of December 31, 2023, up from RMB 149.30 million as of March 31, 2023[42] Investments and Projects - On April 19, 2023, the Group agreed to acquire an additional 27% equity interest in Tibet Tianren Mining Co., Ltd. for a total consideration of RMB 54 million, increasing its interest to 54%[37] - There were no significant investments made by the Group during the nine months ended December 31, 2023[36] - As of December 31, 2023, the Group's capital commitment for the acquisition of property, plant, and equipment amounted to RMB 4,467,000 (approximately USD 0.64 million) compared to RMB 514,000 as of March 31, 2023[45] - The newly built gold extraction project of Anhui Jinding significantly improved the efficiency of the Group's mineral development business, aligning with expectations[51] - The construction of a new detonating tube production line in Tajikistan is expected to significantly increase the Group's market share of civilian explosives in Central Asia[51] - Two new projects, Tibet Tianren Mining and Inner Mongolia's 100,000-ton on-site mixed explosives production system, are anticipated to start construction in 2024[51] Workforce and Operations - The Group's full-time employees decreased to 1,041 as of December 31, 2023, down from 1,253 as of March 31, 2023, reflecting a reduction in workforce[50] - The Group's various businesses remained stable during the nine months ended December 31, 2023, with civilian explosives sales remaining flat compared to the same period last year[51] - The Group aims to explore business expansion opportunities while maintaining stable operations and controlling risks[57] Shareholding and Governance - As of December 31, 2023, Ms. Ma Ye holds 126,005,000 ordinary shares, representing approximately 3.54% of the total shareholding[60] - The Ma family collectively holds 1,902,103,222 ordinary shares, accounting for 53.45% of the total shareholding, due to agreements under the SFO[72] - Shiny Ocean is a beneficial owner of 1,361,516,331 ordinary shares, which is approximately 38.26% of the total shareholding[72] - The total number of ordinary shares held by substantial shareholders includes interests from controlled corporations and trustees[72] - The percentage of shareholding is calculated based on the number of issued shares of the Company as of December 31, 2023[65] - No other directors or chief executives had any interests or short positions in the shares of the Company as of December 31, 2023[68] - The report indicates that the interests of shareholders are disclosed in accordance with the SFO regulations[69] - The company has a significant concentration of ownership, with major shareholders holding over 50% of the shares[72] - The report highlights the importance of compliance with the SFO for transparency in shareholding[69] - The company continues to monitor and disclose any changes in shareholding as required by regulatory standards[68] - As of December 31, 2023, the company had not purchased, sold, or redeemed any of its listed shares during the nine months ended, consistent with the previous year[83] - The share award scheme adopted on July 8, 2019, aims to reward contributions to the group's growth and development, with no share awards granted for the nine months ended December 31, 2023[79][84] - The company has complied with all code provisions set out in the Code on Corporate Governance Practices during the nine months ended December 31, 2023[81] - The largest shareholder, Mr. Ma Qiang, holds 1,902,103,222 ordinary shares, representing 53.45% of the total shareholding[75] - Ms. Ma Xia, a beneficial owner, holds 172,166,037 ordinary shares, accounting for 4.84% of the total shareholding[73] - Mr. Yang Tao and Mr. Li Man hold 274,919,268 and 272,039,268 ordinary shares, respectively, representing 7.73% and 7.64% of the total shareholding[73] - The company has not been notified of any other person with a discloseable interest in the shares as of December 31, 2023[76] - The shareholding percentage is calculated based on the number of issued shares as of December 31, 2023[75] - The company has adopted a code of conduct regarding Directors' securities transactions, ensuring compliance with GEM Listing Rules[81] - No significant competition with the business of the group was reported among Directors or management during the nine months ended December 31, 2023[81] Audit and Compliance - The Group's unaudited financial statements for the nine months ended 31 December 2023 have been reviewed by the audit committee[91] - The audit committee is composed of three independent non-executive directors, ensuring compliance with GEM Listing Rules[89] - No share awards have been granted under the share incentive plan as of 31 December 2023[86]
比优集团(08053) - 2024 Q3 - 季度财报