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Statement
| 1.Date of occurrence of the event:2022/04/11
2.Company name:Lungyen Life Service Corporation
3.Relationship to the Company (please enter "head office" or
"subsidiaries"):Head office.
4.Reciprocal shareholding ratios: Not applicable
5.Cause of occurrence:Release of the Company's consolidated monthly sales
in Mar. 2022 according to OTC No.1020200510.
6.Countermeasures:None
7.Any other matters that need to be specified:
(1)The Company's monthly consolidated revenues for Mar. 2022 were
NT$399,427 thousand, which increased 9.30% compared to
NT$365,737 thousand of the corresponding period of 2021.
(2)The Company's consolidated revenues for January through Dec.
2022 were NT$1,078,132 thousand, which increased 7.77% compared to
NT$1,000,381 thousand of the corresponding period of the previous year.
(3)At the end of Feb. 2022, the debt ratio was 66.49%, the current
ratio was 94.23% and the quick ratio was 253.41%.
(4)The adjusted debt ratio was 10.39% at the end of Feb. 2022.
Explanation for the adjustment is as below.
The Company's total liability was NT$44.44 billion at the end of Feb.
2022,including NT$41.85 billion of advance receipts from selling of
pre-need funeral, columbarium and cemetery contracts. Receives from
those contracts will be recognized as revenues when the Company perform
funeral services or transfer the property right of columbarium and
cemetery in accordance with the terms and conditions of the contracts.
To provide a clearer reference, the Company deduct the unrecognized
sales of pre-need funeral contract, columbarium and cemetery from the
liabilities balance and their corresponding amounts from the assets
balance to calculate the adjusted debt ratio.
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