Revenue Performance - For the three months ended June 30, 2023, total revenue was RMB 333,746,000, a decrease of 29% compared to RMB 469,164,000 for the same period in 2022[25]. - Sales of explosives amounted to RMB 189,141,000, representing an increase of 17% from RMB 161,042,000 in the previous year[25]. - The provision of blasting operations and mine construction generated revenue of RMB 35,802,000, down from RMB 182,871,000, indicating a significant decline[25]. - Mining operations revenue was RMB 108,803,000, a decrease of 13% from RMB 125,251,000 in the prior year[25]. - The revenue for the first quarter ended June 30, 2023, was RMB 333,746,000, a decrease of 29.0% compared to RMB 469,164,000 in the same period of 2022[52]. - The Group's turnover for the quarter ended June 30, 2023, was approximately RMB 333.75 million, representing a decrease of approximately 28.86% compared to the corresponding period in the previous fiscal year[68]. - The Group's turnover for the Quarterly Period decreased by approximately 28.86% compared to the corresponding period in 2022[82]. Profitability - Profit attributable to owners of the Company for the period was RMB 54,882,000, compared to RMB 62,670,000 in the same quarter of 2022, reflecting a decline of 12.5%[7]. - Total comprehensive income for the period was RMB 108,112,000, down from RMB 141,055,000, marking a decrease of 23.3%[7]. - Profit for the period was RMB 106,837,000, down from RMB 117,250,000 in the previous year, representing a decrease of 8.0%[52]. - The profit attributable to the owners of the Company for the three months ended June 30, 2023, was RMB 54,882,000, a decrease from RMB 62,670,000 in the same period of 2022, representing a decline of approximately 12.7%[40]. - The total comprehensive income attributable to owners for the quarter was approximately RMB 56.12 million[68]. Earnings Per Share - Basic and diluted earnings per share were RMB 0.016, slightly down from RMB 0.018 in the previous year[7]. - The weighted average number of ordinary shares for the purposes of basic earnings per share was 3,496,414, compared to 3,529,880 in the previous year[40]. - Basic and diluted earnings per share for the quarter was approximately RMB 0.016[68]. - There were no potential dilution of shares during the reporting periods, resulting in basic earnings per share being the same as diluted earnings per share[30]. - There were no potentially dilutive shares in issue during the respective period, so diluted earnings per share equaled basic earnings per share[61]. Taxation - The Company has three subsidiaries in China that enjoy a preferential corporate income tax rate of 15% for three years due to their recognition as New and Hi-tech Enterprises[28]. - The Company has not made any provision for Hong Kong profits tax or Mongolia corporate income tax as there were no assessable profits in these regions for both the current and prior year[12]. - The Company has a preferential tax rate of 9% for one branch and a subsidiary in Lhasa from 2015 to 2025, reverting to 15% thereafter if no further announcements are made[38]. - Current tax expenses included RMB 5,893,000 for PRC Enterprise Income Tax and RMB 3,659,000 for Tajikistan Corporation Income Tax[59]. Corporate Governance - The company has complied with the Corporate Governance Code throughout the quarterly period[47]. - The audit committee consists of three independent non-executive directors, ensuring oversight of financial reporting processes[47]. - The company has established a code of conduct regarding directors' securities transactions, with no reported non-compliance[47]. Future Projects and Growth - The Company is progressing on several new projects, including the gold extraction project in Anhui and the approval of the Tibet Tianren Mining project, which are expected to contribute to both short-term and long-term growth[41]. - The Company is preparing for a new 100,000-tonne on-site intelligent production system for mixed explosives, which is currently under submission and approval[41]. - The Company’s board believes that the successful implementation of ongoing projects will bring greater benefits to shareholders in the future[41]. Shareholding Structure - Mr. Ma Qiang holds 1,902,103,222 ordinary shares, representing approximately 53.45% of the total shareholding[35]. - Mr. Yang Tao and Mr. Li Man hold 274,919,268 shares (7.73%) and 272,039,268 shares (7.64%) respectively[35]. - As of June 30, 2023, the company had not been notified of any other person with a discloseable interest in the shares, apart from the directors and chief executives[93]. - The shareholding percentage is calculated based on the number of issued shares as of June 30, 2023[93]. - The entire issued share capital of Ma Family Holdings Co. Limited is owned by Equity Trustee Limited as trustee of the Ma Family Trust[93]. - The company is under the influence of an irrevocable undertaking given by key family members regarding share interests[93]. Dividends - The Company did not declare any dividends for the current quarter, consistent with the previous year[5]. - The Board does not recommend the payment of any dividend for the quarter[68]. Operational Challenges - The Group maintained stable sales volume by adjusting the price of civil explosives, but income from blasting operations declined significantly due to governance in the downstream coal industry and project terminations in Tibet[82]. - The Group's blasting operations and mine operation businesses declined significantly due to market conditions and the discontinuation of some businesses in Tibet[82]. - The newly added gold extraction project within the Anhui Jinding project has caused a lag in sales for some products, impacting financial indicators for the Quarterly Period[82]. - Other income increased due to a debt relief of approximately RMB 32 million during the period[82]. - The Group's borrowings are secured by mining rights valued at approximately RMB 120.9 million, up from RMB 107.42 million in 2022[82]. - The Group has hoarded more than 150,000 tons of sulfur concentrate, with a gold and iron extraction project expected to be completed by September this year[82].
比优集团(08053) - 2024 Q1 - 季度业绩