Financial Performance - For the three months ended March 31, 2023, the group's revenue increased by approximately 46.5% year-on-year to approximately RMB 28,715,000, compared to RMB 19,596,000 in the same period of 2022[5] - The total gross profit for the same period increased by approximately 353.0% year-on-year to approximately RMB 5,440,000, up from RMB 1,201,000 in 2022[5] - The loss attributable to the company's owners for the period was approximately RMB 787,000, a decrease of about 86.0% compared to a loss of RMB 5,628,000 in the same period of 2022[5] - The group recorded a tax loss of RMB 847,000 for the period, compared to a tax loss of RMB 6,289,000 in the previous year[6] - The basic and diluted loss per share for the period was RMB 0.003, compared to RMB 0.019 in the same period of 2022[8] - The total comprehensive loss for the period amounted to RMB 1,027,000, down from RMB 5,790,000 in the previous year[8] - Revenue from EPC projects reached RMB 24,160,000, significantly up from RMB 1,268,000 in the previous year[24] - The company reported a pre-tax loss of RMB 847,000 for the three months ended March 31, 2023, compared to a pre-tax loss of RMB 6,289,000 in the same period of 2022[24] - The operating segment performance showed a profit of RMB 5,440,000, with EPC projects contributing RMB 5,843,000[18] - Revenue from external customers in Vietnam was RMB 19,785,000, while revenue from mainland China dropped to RMB 8,930,000 from RMB 19,596,000[21] Dividend and Shareholder Information - The group did not recommend the payment of an interim dividend for the period[5] - The company did not declare any interim dividend for the three months ended March 31, 2023[30] - As of March 31, 2023, the company has issued a total of 300,000,000 shares, with major shareholders holding significant stakes: Oceanic Expert Investments Limited and Meitao Holdings Limited each hold 91,350,000 shares, representing 30.45% of the issued shares[71] - The total number of shares held by the directors is 10,000,000, which accounts for approximately 1.33% of the issued share capital[70] Expenses and Costs - The cost of sales for the period was approximately RMB 23,275,000, an increase of about 26.5% from RMB 18,395,000 in the same period of 2022[52] - Selling and distribution expenses decreased to approximately RMB 325,000, down about 30.4% from RMB 467,000 in the same period of 2022[54] - Administrative expenses for the period were approximately RMB 6,706,000, a decrease of about 3.7% from RMB 6,962,000 in the same period of 2022[55] - The company incurred financing costs of RMB 118,000 during the reporting period[24] - Depreciation and amortization expenses for the period amounted to RMB 298,000[24] Strategic Focus and Market Position - The company primarily engages in environmental services such as wastewater treatment and soil remediation[12] - The company is positioned in the GEM market, which is characterized by higher investment risks compared to other listings on the Hong Kong Stock Exchange[2] - The company has increased its investment in the Vietnamese market, signing new contracts worth several tens of millions of RMB in early 2023[37] - The company is focusing on the Greater Bay Area and Vietnam as key markets for future development[37] - The company aims to maintain a cautious approach to client selection, stable income, cost control, and cash flow management as part of its strategy for 2023 and 2024[40] - The company anticipates that the business environment will remain challenging, with pressures from currency depreciation and global political issues[38] - The company believes that the economic recovery in China will take time and is adopting a pragmatic management style[40] Share Option Scheme - The company has adopted a share option scheme, granting 18,000,000 options to directors and employees, which represents 6% of the total issued shares as of March 31, 2023[77] - The share option plan aims to encourage contributions from eligible individuals and enhance the company's ability to attract and retain skilled personnel[75] - No individual has been granted more than 1% of the personal limit under the share option plan, ensuring compliance with regulatory requirements[74] - The vesting period for the share options is set at 3 years, allowing participants to exercise their options after this period[83] - The exercise price for the share options granted is set at HKD 1.19[89] - The remaining term of the share option scheme is approximately 9 years[88] - The company has not granted any additional share options since the issuance of 18,000,000 options on June 29, 2022[92] Governance and Compliance - The company has established a clear governance structure for granting options to core connected persons, requiring independent non-executive director approval[81] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements for the period[95] - The company has confirmed compliance with the prescribed trading standards during the period[94] - The company has adopted a code of conduct regarding securities trading for directors, which is not less stringent than the GEM Listing Rules[94] Future Outlook - The company provided a positive outlook for the upcoming quarters, projecting a revenue growth of 20% for the full year 2023[98] - New product launches are expected to contribute an additional 10 million for R&D in the next fiscal year[98] - Market expansion plans include entering two new regions, which are projected to increase market share by 5%[98] - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of $30 million earmarked for potential deals[98] - Operational efficiency improvements are expected to reduce costs by 10% over the next year[98] - The company aims to enhance customer engagement through new marketing strategies, targeting a 25% increase in customer retention rates[98] - Overall, the company remains committed to sustainable growth and innovation in its business strategies[98]
中国天亿福(08196) - 2023 Q1 - 季度财报