Financial Performance - For the nine months ended March 31, 2023, the group recorded revenue of RMB 38.83 million, a decrease of 3.1% compared to RMB 40.06 million for the same period in 2022[8]. - The profit attributable to owners of the company for the nine months ended March 31, 2023, was RMB 5.73 million, an increase of 121.2% from RMB 2.59 million for the same period in 2022[8]. - Basic earnings per share for the nine months ended March 31, 2023, was RMB 0.03, compared to RMB 0.01 for the same period in 2022[8]. - Operating profit for the nine months ended March 31, 2023, was RMB 17.185 million, a slight decrease of 3.3% from RMB 17.770 million for the same period in 2022[9]. - The EBITDA for the nine months ended March 31, 2023, was RMB 17.464 million, a decrease of 3.5% from RMB 18.090 million for the same period in 2022[9]. - The total comprehensive income for the nine months ended March 31, 2023, was RMB 10.162 million, an increase of 609.6% from RMB 1.432 million for the same period in 2022[9]. - The company reported a significant increase in net profit before interest, tax, depreciation, and amortization (EBITDA) of 28.1% for the three months ended March 31, 2023, compared to the same period in 2022[9]. - The company reported a profit attributable to owners of RMB 4,153,000 for the three months ended March 31, 2023, representing a 189.4% increase compared to RMB 1,435,000 in the same period of 2022[10]. - For the nine months ended March 31, 2023, the profit attributable to owners was RMB 5,726,000, up 121.2% from RMB 2,589,000 in the previous year[10]. - Total comprehensive income attributable to owners for the three months ended March 31, 2023, was RMB 6,352,000, a 110.7% increase from RMB 3,015,000 in the same period of 2022[10]. - The total comprehensive income attributable to owners for the nine months ended March 31, 2023, was RMB 10,089,000, a significant increase of 617.6% from RMB 1,406,000 in the previous year[10]. Revenue Sources - The company primarily generates revenue from educational facility leasing, with less than 10% of total revenue coming from commercial leasing of supporting facilities[19]. - Revenue for the three months ended March 31, 2023, was RMB 15.87 million, an increase of 14.3% compared to RMB 13.88 million for the same period last year[35]. - Revenue for the nine months ended March 31, 2023, decreased by 3.1% to RMB 38.83 million from RMB 40.06 million in the previous year[35]. - Rental income from educational facilities for the three months ended March 31, 2023, was RMB 14.97 million, up 16.5% from RMB 12.84 million in the same period last year[5]. Costs and Expenses - Employee costs decreased by 17.5% for the nine months ended March 31, 2023, amounting to RMB 3.778 million compared to RMB 4.580 million for the same period in 2022[9]. - Maintenance and repair costs increased by 74.6% to RMB 1.03 million from RMB 0.59 million in the same period last year[38]. - Interest expenses decreased by 25.4% to RMB 11.26 million from RMB 15.10 million in the previous corresponding period, attributed to a gradual reduction in loan principal[45]. Shareholder Information - As of March 31, 2023, the company has a total of 180,000,000 issued shares, with Mr. Zhou holding 135,000,000 shares, representing 75% ownership[72]. - The major shareholder, Raffles, holds 135,000,000 shares, which is also 75% of the issued shares, with Mr. Zhou having a direct interest of 23.12% in Raffles[76]. - The company did not declare any dividends for the current period[33]. - No dividends have been proposed for the period, consistent with the previous year[64]. Corporate Governance - The audit committee, composed of three independent non-executive directors, has reviewed the accounting principles and practices adopted by the group and confirmed that the third-quarter results are prepared in accordance with applicable accounting standards[80]. - The company has complied with the corporate governance code as per GEM Listing Rules Appendix 15 during the reporting period[68]. - The company is committed to fulfilling its responsibilities to shareholders and aims to enhance shareholder value through solid corporate governance[67]. - The company has established a non-competition agreement with Raffles, ensuring no competition with the company's business[65]. Operational Developments - The company plans to expedite the construction of new dining and theater facilities at the East University campus, expected to be completed by mid-2023 to meet existing educational institutions' needs[51]. - The company has entered into a sale agreement for several investment properties in Langfang, Hebei, for RMB 100 million, aimed at optimizing asset utilization and reducing borrowings[51]. - The company has committed RMB 10.18 million for the renovation of two dormitories at the East University campus, with RMB 4.01 million already paid[55]. - The company has established a three-year lease agreement for a property in Malaysia with an annual rent of 2.01 million Malaysian Ringgit (approximately RMB 3.15 million)[59]. Compliance and Standards - The company has not applied any new accounting standards or interpretations that have not yet come into effect during the reporting period[16]. - The company’s financial performance is based on the Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[15]. - The company has adopted the trading compliance standards as per GEM Listing Rules for its directors' securities transactions[70]. - As of March 31, 2023, there are no other entities or individuals holding 5% or more interests in the shares and related securities, apart from those disclosed[77].
东方大学城控股(08067) - 2023 Q3 - 季度财报