Financial Performance - Revenue for the third quarter of 2023 reached RMB 10,692,000, an increase of 8% compared to RMB 9,905,000 in the same period of 2022[4] - The cost of sales for the third quarter was RMB 12,585,000, resulting in a gross loss of RMB 1,893,000, compared to a gross loss of RMB 911,000 in Q3 2022[4] - Operating loss for the nine months ended September 30, 2023, was RMB 68,485,000, significantly higher than RMB 29,753,000 for the same period in 2022, indicating a deterioration in operational performance[4] - The company reported a net loss of RMB 21,127,000 for the third quarter of 2023, compared to a net loss of RMB 11,351,000 in Q3 2022, reflecting a 86% increase in losses year-over-year[4] - Total comprehensive loss for the nine months ended September 30, 2023, was RMB 68,367,000, compared to RMB 42,007,000 for the same period in 2022, representing a 63% increase[5] - The company incurred a fair value loss on investment properties of RMB 45,150,000 for the nine months ended September 30, 2023, compared to RMB 2,420,000 in the same period of 2022[4] - Basic and diluted loss per share for the third quarter of 2023 was RMB 6.0, compared to RMB 1.8 for the same period in 2022[6] - The net loss for the nine months ended September 30, 2023, was approximately RMB 67,500,000, compared to a net loss of RMB 40,400,000 for the same period in 2022[24] - The group reported a loss before tax of approximately RMB 78,800,000, an increase of about RMB 37,700,000 compared to RMB 41,100,000 in the same period of 2022, primarily due to increased fair value losses on investment properties[32] - The net loss for the period increased by approximately RMB 14,400,000 to approximately RMB 54,800,000 from RMB 40,400,000 in the same period of 2022, mainly due to increased fair value losses on investment properties[34] Revenue Streams - For the nine months ended September 30, 2023, the company's revenue was approximately RMB 34,100,000, an increase of about 13.8% compared to RMB 30,000,000 for the same period in 2022[24] - Revenue from ticket sales increased by approximately 22.1% to about RMB 7,300,000 for the nine months ended September 30, 2023[25] - Restaurant revenue increased by approximately 29.1% to about RMB 6,700,000 for the nine months ended September 30, 2023[25] - Revenue from hotel and resort operations increased by approximately RMB 4,500,000 or about 15.4% to approximately RMB 29,500,000, driven mainly by increased ticket and dining revenues[28] Operational Metrics - The occupancy rate of the themed hotel increased from approximately 24.0% for the nine months ended September 30, 2022, to approximately 27.8% for the same period in 2023[25] - Average room rate slightly increased from approximately RMB 277.8 to RMB 278.6 for the nine months ended September 30, 2023[25] - The company recorded a decrease in room revenue from themed hotels of approximately 2.4% to about RMB 13,900,000 for the nine months ended September 30, 2023[25] Expenses and Costs - Administrative expenses for the nine months ended September 30, 2023, were RMB 18,042,000, down from RMB 21,045,000 in the same period of 2022, showing a reduction in overhead costs[4] - The group's cost of sales for the period was approximately RMB 38,200,000, an increase of about 8.8% from RMB 35,100,000 in the same period of 2022[29] - The gross loss for the period was approximately RMB 4,100,000, a decrease of about RMB 1,100,000 compared to a gross loss of RMB 5,200,000 in the same period of 2022, resulting in a gross loss margin of approximately 12.1%[31] Shareholder Information - As of September 30, 2023, the company has issued a total of 1,137,185,800 shares[2] - Mr. Li Chaowang beneficially owns 74.21% of the shares in the company, equating to a total of 97,500,000 shares[49] - The company has not declared or paid any dividends for the nine months ended September 30, 2023[18] - The company does not recommend any interim dividend for the nine months ended September 30, 2023, consistent with the previous year[37] Corporate Governance - The company has adhered to the corporate governance code, except for the dual role of Mr. Han as both Chairman and CEO, which is under regular review[51] - The company is committed to high standards of corporate governance to ensure shareholder interests are maximized[51] - The company has confirmed compliance with the trading code for all directors during the reporting period[47] - No directors or major shareholders have interests in any competing businesses as of September 30, 2023[48] Stock Options - The stock option plan adopted in November 2016 is valid for 10 years, with various options granted in 2017 and 2022[53] - The total number of stock options granted is 83,038,000, with 15,813,800 exercised and 6,893,100 expired, leaving a balance of 60,331,100 options[55] - The exercise price for options granted in 2017 was HKD 0.62, while the price for options granted in 2022 was HKD 0.1742[57] - The company has a total of 11,670,000 stock options available for employees, with 5,600,000 options granted in 2022[55] - The stock options are subject to a vesting schedule, with 25% of the options exercisable at various dates until April 2025[57] - The stock options granted to directors and employees include a total of 63,228,000 options, with 15,513,800 exercised and 6,893,100 expired[55] Market Strategy - The company remains cautious about market changes and focuses on transforming risks into opportunities, particularly in the hotel sector, while not planning to expand its property development business in the near future due to challenging market conditions[38] - The group will continue to monitor market performance closely and seize opportunities to improve hotel and resort operations[38] - The company is focusing on expanding its market presence in mainland China, excluding Hong Kong, Macau, and Taiwan[65] Future Developments - The company has plans for future development on approximately 67,860.7 square meters of land at the Gu Dou Hot Spring Resort[65] - The company has not disclosed any new product developments or market expansion strategies in the current report[52] - The company has not disclosed any new product developments or market expansions in the recent reports[64] Audit and Compliance - The audit committee reviewed the report and confirmed that the financial performance for the nine months ending September 30, 2023, complies with applicable accounting standards[59] - As of September 30, 2023, the company did not purchase, redeem, or sell any of its listed securities during the nine months[58]
古兜控股(08308) - 2024 Q1 - 季度财报