Financial Performance - Total revenue for the three months ended March 31, 2023, was RMB 14,121,000, an increase of 7.8% compared to RMB 13,094,000 for the same period in 2022[7]. - The company reported a loss of RMB 644,000 for the three months ended March 31, 2023, compared to a loss of RMB 1,631,000 for the same period in 2022[11]. - For the three months ended March 31, 2023, the company reported a loss attributable to owners of the company of RMB 644,000, compared to a profit of RMB 126,000 for the same period in 2022, resulting in a basic loss per share of RMB 0.16[23]. - The company reported a total revenue of approximately RMB 14.1 million for the three months ended March 31, 2023, representing an increase of about RMB 1.0 million or 7.8% compared to the same period in 2022[59]. - The company recorded a gross profit of RMB 3.04 million for the three months ended March 31, 2023, compared to RMB 3.33 million in the same period of 2022[44]. - The company incurred an operating loss of RMB 0.13 million for the three months ended March 31, 2023, compared to an operating profit of RMB 0.41 million in the same period of 2022[44]. - The company reported a net loss of RMB 0.64 million for the three months ended March 31, 2023, compared to a net profit of RMB 0.13 million in the same period of 2022[44]. - The company’s basic and diluted loss per share was RMB (0.16) for the three months ended March 31, 2023, compared to RMB 0.03 in the same period of 2022[44]. Revenue Breakdown - Revenue from fiberglass products was RMB 14,121,000, with RMB 6,310,000 from fiberglass grating and RMB 7,811,000 from epoxy wedge strips[7]. - Local customers in China contributed RMB 11,499,000 to revenue, while overseas customers contributed RMB 2,622,000[14]. - Sales of fiberglass grating products amounted to RMB 6.31 million with a gross margin of 27.8% for the three months ended March 31, 2023, compared to RMB 4.01 million with a gross margin of 24.6% in the same period of 2022[48]. - Revenue from fiberglass grating products increased by approximately RMB 2.3 million or 57.2% to RMB 6.3 million for the three months ended March 31, 2023, compared to RMB 4.0 million for the same period in 2022[75]. - Revenue from epoxy wedge products decreased by approximately RMB 1.3 million or 14.0% to RMB 7.8 million for the three months ended March 31, 2023, compared to RMB 9.1 million for the same period in 2022[76]. Expenses and Costs - The total expenses for the period were RMB 644,000, with significant costs attributed to employee salaries and benefits totaling RMB 2,149,000[16]. - The company incurred a tax expense of RMB 439,000 for the three months ended March 31, 2023, compared to RMB 279,000 for the same period in 2022[19]. - Administrative expenses decreased by approximately RMB 0.3 million or 9.1% to RMB 2.5 million for the three months ended March 31, 2023, primarily due to reduced leasing expenses classified as cost of sales[62]. - Distribution costs increased by approximately RMB 0.2 million or 33.5% to RMB 0.7 million for the three months ended March 31, 2023, from RMB 0.5 million for the same period in 2022[77]. - The company’s financial costs increased to RMB 0.078 million for the three months ended March 31, 2023, compared to RMB 0.006 million in the same period of 2022[44]. Research and Development - Research and development costs for the period were RMB 256,000, a decrease from RMB 450,000 in the same period last year[16]. - The company plans to enhance its R&D capabilities by controlling raw materials, procuring new equipment, and hiring professional R&D personnel to produce more competitive high-quality products[28]. Market and Strategy - The company continues to focus on its fiberglass business, with no significant changes in operational strategy reported[6]. - The management expects steady growth in the overall fiberglass market in China in the coming years, driven by the material's advantages over traditional materials[27]. - The company aims to strengthen its market presence and product offerings to capture moderate growth in the fiberglass grating market in the future[30]. - The company has over 10 years of industry experience and a continuously expanding customer base, which positions it favorably compared to local competitors in the fiberglass market[30]. - The company is currently constructing a new factory in Inner Mongolia, aiming to start production and sales of industrial silica sand materials in the second half of 2024, which is expected to bring significant economic benefits[46]. Governance and Compliance - The company has complied with all applicable code provisions of the corporate governance code as set out in the GEM Listing Rules during the three months ended March 31, 2023[71]. - The company has established an audit committee consisting of three independent non-executive directors to oversee compliance and governance[72]. - The audit committee reviewed the unaudited performance for the three months ending March 31, 2023[89]. - The committee's main responsibilities include overseeing financial reporting procedures and internal controls[89]. - The company has adopted the GEM Listing Rules as the code of conduct for directors' dealings in the company's securities[88]. Dividends and Other Income - The company did not declare any dividends for the three months ended March 31, 2023, consistent with the same period in 2022[21]. - The company reported other income of RMB 8,000 for the three months ended March 31, 2023, compared to RMB 2,478,000 for the same period in 2022[36]. - The company did not purchase, sell, or redeem any of its listed securities during the three months ended March 31, 2023[86].
硅鑫集团(08349) - 2023 Q4 - 季度财报