We define the adjusted profit for the year (non-IFRS measure) by adding back the Listing expenses to the profit for the year as presented in accordance with IFRS. Listing expenses are mainly expenses related to the Global Offering and are added back mainly because they were incurred for the purpose of the Listing.
Summary · p. 14
During the Track Record Period, our profit for the year was RMB35.1 million, RMB47.4 million and RMB51.5 million respectively.
We define adjusted profit from continuing operations (non-IFRS measure) as profit from continuing operations for the financial year adjusted by adding back (i) share-based payments which arose from grant of shares and exercise of anti-dilution rights granted to certain employees and shareholders of our Group, which are non-cash in nature; and (ii) Listing expenses in relation to the Share Offer.
However, our presentation of the adjusted profit from continuing operations (non-IFRS measure) may not be comparable to similarly titled measures presented by other companies.
We define ‘‘adjusted net profit (non-IFRS measure)’’ as profit/loss for the year and add back listing expenses.
Summary · p. 13
Our adjusted net profit (non-IFRS measure) amounted to RMB20.9 million, RMB13.6 million and RMB23.6 million for the years ended 31 December 2021, 2022 and 2023, respectively.
Summary · p. 13
Our adjusted net profit (non-IFRS measure) increased from RMB13.6 million for the year ended 31 December 2022 to RMB23.6 million for the year ended 31 December 2023 while our adjusted net profit margin (non-IFRS measure) increased from 2.5% to 3.4% during the same years, respectively.
We exclude listing expenses, fair value changes of convertible redeemable preferred shares, fair value changes of warrants, and gain on forfeiture of valuation adjustment mechanism in calculating adjusted net profit (non-IFRS measure).
Summary · p. 10
However, our presentation of adjusted net profit (non-IFRS measure) may not be comparable to similarly titled measures presented by other companies.
We define adjusted net profit (non-HKFRS measure) as profit for the year adjusted by adding back listing expenses.
Summary · p. 11
Listing expenses were in relation to the Listing and the Global Offering.
Summary · p. 11
We believe that the presentation of non-HKFRS measures when shown in conjunction with the corresponding HKFRS measures provides useful information to investors and management in facilitating a comparison of operating performance from period to period.
We define adjusted net loss (non-IFRS measure) as net loss for the year adjusted by adding back fair value changes of convertible redeemable preferred shares, interest on preferred shares, listing expenses and share-based compensation expenses.
Summary · p. 23
Our adjusted net losses (non-IFRS measure) decreased from RMB132.3 million in 2022 to RMB27.7 million in 2023, primarily due to (i) an increase in gross profit, resulting from the increasing contribution of revenue from SaaS business, and (ii) a decrease in our research and development expenses, resulting from the enhanced efficacy and cost-efficiency of our research and development efforts.
The term of adjusted EBITDA is not defined under HKFRS and should not be considered in isolation or construed as alternatives to loss/profit from operations or any other measure of performance or as an indicator of our operating performance or profitability.
Summary · p. 19
Our adjusted EBITDA (non-HKFRS measure) amounted to HK$32.1 million, HK$77.0 million, HK$85.4 million, representing 139.9% and 10.9% year-on-year increase, respectively, for the three years ended 31 March 2023, and HK$44.5 million and HK$52.2 million for the six months ended 30 September 2022 and 2023, respectively, representing 17.3% period-on-period increase.
Further, without taking into account our Listing expenses, our net profit margin during the Track Record Period remained relatively stable at the rate of approximately 15.7%, 16.3%, 15.2% and 18.1% respectively.
Business · p. 223
We generated operating profit before working capital changes of approximately RMB37.7 million, RMB33.0 million, RMB36.4 million, RMB16.5 million and RMB20.6 million for FY2020, FY2021, FY2022, 6M2022 and 6M2023, respectively, which took into account the Listing expenses of approximately RMB1.0 million, RMB7.5 million, RMB10.1 million, RMB6.6 million and RMB5.9 million for FY2020, FY2021, FY2022, 6M2022 and 6M2023, respectively.
We define adjusted net profit (Non-HKFRS measure) as profit for the year/period adjusted by adding back listing expenses and share-based payments.
Financial Information · p. 289
Our adjusted net profit increased from RMB42.8 million in the six months ended June 30, 2022 to RMB56.6 million in the six months ended June 30, 2023.
Financial Information · p. 289
The use of this non-HKFRS measure has limitations as an analytical tool, and you should not consider it in isolation from, or as substitute for analysis of, our results of operations or financial condition as reported under HKFRS.
We define adjusted net profit (non-HKFRS measure) as profit for the year adjusted by expenses for the Listing. Given that Listing expenses were incurred for the purpose of the Share Offer, the adjustment has been consistently made during the Track Record Period.
Summary · p. 10
Our profit for FY2022 decreased by approximately RMB11.1 million, or approximately 30.1% from approximately RMB36.9 million for FY2021 to approximately RMB25.8 million for FY2022. Such decrease was mainly attributable to the Listing expenses incurred during FY2022.
We define adjusted net profit (non-HKFRS measure) as profit for the year or period adjusted by expenses for the Listing.
Summary · p. 11
Our profit and total comprehensive income decreased from HK$32.5 million for the five months ended May 31, 2022 to HK$22.9 million for the five months ended May 31, 2023 as a result of the increase in Listing expenses and net expected credit losses due to increase in loan receivables, which has offset the increase in interest income as we gradually grow our loan portfolio.
We define adjusted profit (Non-HKFRS measure), as profit for the year/period adjusted by Listing expenses relating to the Global Offering.
Summary · p. 13
While adjusted profit (Non-HKFRS measure) provides additional information to potential investors in understanding and evaluating our results of operations, the use of adjusted profit (Non-HKFRS measure) has certain limitations as an analytical tool.
Adjusted net profit (non-IFRS measures) and adjusted net profit margin (non-IFRS measures) eliminate the effect of certain items, mainly listing expenses and fair value loss/(gain) on ordinary shares with redemption right.
Summary · p. 7
Listing expenses represent expenses relate to the Listing, net of the PRC enterprise income tax.
Financial Information · p. 345
Fair value loss/(gain) on ordinary shares with redemption right represents the changes arising from change in fair value to ordinary shares with redemption right.
We define adjusted net profit (non-IFRS measure) as profit for the corresponding period adjusted by adding back listing fee.
Summary · p. 23
We exclude such item primarily because listing fee is related to the Global Offering of our Company.
Summary · p. 23
The decrease was primarily due to (i) an increase in administrative expenses in 2022, mainly as a result of the listing expenses incurred, and (ii) the impairment losses on assets held for sale recorded in 2022 relating to our containers to be disposed of.
We define adjusted net profit (non-HKFRS measure) as net profit for the period adjusted by adding back (i) listing expenses; (ii) share-based compensation expenses; and (iii) interest expense on financial instrument with redemption rights.
Summary · p. 11
However, the use of adjusted net profit (non-HKFRS measure) has material limitations as an analytical tool.
Summary · p. 11
We recorded adjusted net profit (non-HKFRS measure) of RMB69.9 million and RMB77.2 million in 2021 and 2022, respectively, that was higher than that in 2019, but lower than the same in 2020, primarily due to the fact that our sales of MODONG coffee was profoundly boosted by the airing of J-Style Trip season one in the first half of 2020.
We defined adjusted net profit (non-HKFRS measure) as profit for the year adjusted by adding back Listing expenses.
Summary · p. 7
Our adjusted net profit (non-HKFRS measure) amounted to RMB53.9 million, RMB67.4 million and RMB70.6 million for FY2020, FY2021 and FY2022, respectively.
We define adjusted profit (non-IFRS measure) as profit/(loss) for the year adjusted by adding back listing expenses and fair value losses on convertible redeemable preferred shares.
Summary · p. 21
Fair value losses on convertible redeemable preferred shares(1) | — | 190,630 | 109,350
Financial Information · p. 375
During the Track Record Period, our adjusted profit (non-IFRS measure) increased from RMB28.9 million in 2020 to RMB45.6 million in 2022.
In 2020, 2021 and 2022, our net profit margin was 21.7%, 20.2% and 17.6%, respectively, while our adjusted net profit margin (non-IFRS measure) for the same periods was 21.7%, 21.0% and 20.4%, respectively.
Summary · p. 3
We believe that these non-IFRS measures facilitate comparisons of operating performance from period to period and company to company by eliminating potential impacts of certain items.
Summary · p. 7
As a result, this adjusted item will no longer exist after the Listing.
In 2019, 2020, 2021 and the nine months ended September 30, 2021 and 2022, we recorded adjusted loss (non-IFRS measure) of RMB1.8 million, adjusted profit (non-IFRS measure) of RMB41.4 million, adjusted profit (non-IFRS measure) of RMB87.3 million, adjusted profit (non-IFRS measure) of RMB76.7 million and adjusted profit (non-IFRS measure) of RMB33.6 million, respectively, representing (0.1)%, 0.9%, 1.4%, 1.6% and 0.7% of our total revenue for the year/period, respectively.
Financial Information · p. 382
To supplement our consolidated financial statements which are presented in accordance with the IFRS, we also use adjusted profit or loss (non-IFRS measure) as an additional financial measure, which is not required by, or presented in accordance with the IFRS.
Financial Information · p. 381
We believe that adjusted profit or loss (non-IFRS measure) provides useful information to investors and others in understanding and evaluating our consolidated results of operations in the same manner as they help our management.