Financial Performance - For the three months ended September 30, 2023, the group recorded revenue of RMB 13.27 million, an increase of 17.6% compared to RMB 11.28 million for the same period in 2022[8]. - The profit attributable to owners of the company for the same period was RMB 2.28 million, a decrease of 9.1% from RMB 2.51 million in the previous year[8]. - Basic earnings per share for the three months ended September 30, 2023, remained at RMB 0.01, unchanged from the same period in 2022[8]. - Operating profit for the period was RMB 6.64 million, reflecting a 4.2% increase from RMB 6.37 million in the prior year[9]. - The total comprehensive income for the period amounted to RMB 4.45 million, representing a 51.2% increase from RMB 2.94 million in the previous year[10]. - The comprehensive income for the three months ended September 30, 2023, was RMB 2,940,000, compared to RMB 2,516,000 for the same period in 2022[12]. - The company reported a profit of RMB 2,278,000 for the three months ended September 30, 2023, compared to RMB 2,507,000 for the same period in 2022[12]. - Net profit decreased by 8.5% from RMB 25.2 million to RMB 23.0 million, influenced by various factors outlined in the financial review[45]. - EBITDA slightly increased by 4.4% from RMB 64.7 million to RMB 67.5 million, consistent with a 4.2% increase in operating profit[46]. Revenue Breakdown - For the three months ended September 30, 2023, the revenue from educational facility leasing was RMB 12,701,000, representing a 21.6% increase compared to RMB 10,447,000 for the same period in 2022[22]. - The total revenue for the three months ended September 30, 2023, was RMB 13,265,000, which is a 17.6% increase from RMB 11,276,000 in the same period last year[22]. - Revenue from the Chinese market for the three months ended September 30, 2023, was RMB 11,834,000, reflecting a 22.2% increase from RMB 9,686,000 in the prior year[24]. - The revenue from non-China markets (Malaysia and Indonesia) decreased by 10.0%, totaling RMB 1,431,000 compared to RMB 1,590,000 in the same period last year[24]. Expenses and Costs - Employee costs decreased by 8.3% to RMB 1.16 million from RMB 1.27 million in the previous year[9]. - The company experienced a notable reduction in property management fees, which decreased by 44.2% to RMB 0.64 million from RMB 1.15 million in the prior year[9]. - Property tax and land use tax decreased by 4.8% from RMB 26.7 million to RMB 25.4 million, primarily due to the sale of four land parcels[36]. - Legal and consulting fees increased by 65.0% from RMB 5.6 million to RMB 9.3 million due to professional fees related to the acquisition of 75.39% of 4 Vallees[38]. - Interest expenses increased by 6.7% from RMB 38.3 million to RMB 40.8 million due to rising loan interest rates in Malaysia and Indonesia[43]. - Income tax increased by 589.7% from RMB 0.04 million to RMB 0.27 million, primarily due to increased taxable income in China and Malaysia[44]. Investments and Acquisitions - The company has invested RMB 32.71 million to acquire investment properties in Ulaanbaatar, Mongolia, with RMB 28.43 million already paid as of September 30, 2023[52]. - The company has completed renovations of two dormitories in the Eastern University City campus, with a total contract amount of RMB 10.18 million, and these dormitories have been leased to an educational institution[53]. - The company has entered into a lease agreement for a property in Malaysia with an annual rent of RM 2.01 million (approximately RMB 3.15 million) for a three-year term[58]. - A lease agreement has been signed for a property in Indonesia with an annual rent of IDR 5.472 billion (approximately RMB 2.46 million) for a three-year term[60]. - The company is in the process of acquiring the remaining 75.39% of shares in 4 Vallees for CHF 11.48 million (approximately RMB 96.40 million)[56]. Shareholder Information - The chairman, Mr. Zhou, holds a 75% equity stake in the company, amounting to 135,000,000 shares[73]. - The direct holding of Mr. Zhou in the parent company, Raffles, is 35.52%, equating to 490,349,264 shares[74]. - Raffles, as the direct holding company, has a beneficial ownership of 75% in the company[75]. - As of September 30, 2023, the ownership percentages are as follows: Mr. Zhou holds 23.12%, Mr. Zhou and Ms. Chung jointly hold 9.93%, and Ms. Chung holds 2.47%[77]. - As of the report date, the ownership percentages are updated to: Mr. Zhou holds 24.05%, Mr. Zhou and Ms. Chung jointly hold 9.88%, and Ms. Chung holds 2.46%[77]. Corporate Governance - The company has adhered to the corporate governance code as per GEM listing rules during the reporting period[69]. - The audit committee, consisting of three independent non-executive directors, has reviewed the accounting principles and practices, confirming that the first-quarter results are prepared in accordance with applicable accounting standards[79]. - The audit committee believes that the financial results have been adequately disclosed in compliance with GEM listing rules[79].
东方大学城控股(08067) - 2024 Q1 - 季度财报