Financial Performance - For the three months ended September 30, 2021, the company reported revenue of SGD 5,753,000, an increase from SGD 5,666,000 in the same period of 2020, representing a growth of 1.54%[28] - The company's gross profit for the nine months ended September 30, 2021, was SGD 16,548,000, compared to SGD 15,935,000 in the same period of 2020, indicating a year-on-year increase of 3.85%[28] - The company achieved a profit before tax of SGD 213,000 for the three months ended September 30, 2021, compared to a loss of SGD 137,000 in the same period of 2020[28] - The net profit for the nine months ended September 30, 2021, was SGD 458,000, a significant improvement from a loss of SGD 570,000 in the same period of 2020[28] - The company's total comprehensive income for the three months ended September 30, 2021, was SGD 174,000, compared to a loss of SGD 161,000 in the same period of 2020[28] - The company reported a basic and diluted earnings per share of SGD 0.01 for the three months ended September 30, 2021, compared to a loss per share of SGD 0.01 in the same period of 2020[28] - For the nine months ended September 30, 2021, the company reported a total revenue of SGD 16,548,000, an increase of 3.85% compared to SGD 15,935,000 for the same period in 2020[39] - The company incurred a total comprehensive loss of SGD 573,000 for the nine months ended September 30, 2021, compared to a loss of SGD 570,000 for the same period in 2020[31] - The company reported a net profit attributable to equity holders of SGD 464,000 for the nine months ended September 30, 2021, compared to a loss of SGD 573,000 for the same period in 2020[53] Expenses and Cost Management - The total expenses for the three months ended September 30, 2021, were SGD 5,540,000, a decrease from SGD 5,703,000 in the same period of 2020, reflecting a cost reduction strategy[28] - Profit for the period increased primarily due to a reduction in depreciation of property, plant, and equipment by approximately SGD 0.08 million, and a decrease in other operating expenses by approximately SGD 0.3 million[73] - Other income decreased by approximately SGD 0.6 million compared to September 30, 2020, due to a reduction in government subsidies received from the Singapore government as the COVID-19 pandemic stabilized[73] Market and Growth Strategy - The company plans to continue its market expansion efforts and invest in new product development to drive future growth[28] - The management expressed optimism about achieving profitability in the upcoming quarters, supported by improved operational efficiencies and cost management strategies[28] - The company has been operating in the Singapore automotive service market for over 17 years, with its passenger car services contributing approximately 100% of total revenue for the nine months ended September 30, 2021[61] - The company has initiated entry into the Chinese automotive market since Q3 2018, focusing on car-sharing and leasing services, although revenue from this segment dropped to zero due to COVID-19 impacts[62] - The company plans to enhance its technical capabilities and service offerings in response to market demands in Singapore and China, aiming to maintain its leadership position in the passenger car market[65] - The company aims to expand its market share through customer retention programs and by strengthening relationships with customers, suppliers, and partners[65] Corporate Governance - The company is committed to high standards of corporate governance, although the roles of Chairman and CEO are held by the same individual[88] - Following the appointment of Mr. Zhao Wei as an independent non-executive director, the company complies with all relevant GEM listing rules and corporate governance code requirements[89] - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with the GEM Listing Rules[87] Shareholder Information - As of September 30, 2021, major shareholders held approximately 29.3% of the company's shares, with Mr. Li Jie and Ms. Han Mei each holding 586,020,000 shares[81] - The company did not enter into any related party transactions during the nine-month period ended September 30, 2021[82] - There were no arrangements made for directors or their close associates to benefit from purchasing shares or debentures of the company during the nine-month period[77] - The company did not grant any share options during the nine-month period ended September 30, 2021[86] Tax and Compliance - The company’s Singapore subsidiary is subject to a tax rate of 17% on estimated profits generated in Singapore[42] - The company has adopted all relevant new and revised International Financial Reporting Standards effective from January 1, 2019, with no significant impact on its accounting policies[34] COVID-19 Impact - The company has implemented multiple preventive measures in its subsidiaries located in Singapore and China to mitigate the risk of COVID-19 impacting business operations[93] - The company experienced a decrease in other income of approximately SGD 0.6 million due to reduced government subsidies as the COVID-19 situation stabilized[68] Future Outlook - The company is preparing for the transition to electric vehicles in Singapore, with the government planning to increase the number of EV charging stations from approximately 2,000 to 60,000 by 2030[64] - The company is collaborating with partners in China to develop a C2N business model for smart shared mobility, with approximately 2,000 private cars registered across multiple cities[65]

Revenue Performance - Revenue for the three months ended June 30, 2021, was SGD 5.454 million, an increase of 30.5% compared to SGD 4.182 million for the same period in 2020[27] - Total revenue for the six months ended June 30, 2021, was SGD 10.795 million, up 5.1% from SGD 10.269 million in the same period of 2020[27] - For the three months ended June 30, 2021, customer contract revenue was SGD 5,454,000, an increase of 30.5% compared to SGD 4,182,000 for the same period in 2020[45] - For the six months ended June 30, 2021, customer contract revenue was SGD 10,795,000, up 5.1% from SGD 10,269,000 in the prior year[45] - The company recorded revenue of approximately SGD 10.8 million for the six months ended June 30, 2021, an increase of about SGD 0.5 million or +4.9% compared to SGD 10.3 million for the same period in 2020[90] Profit and Loss - The company reported a loss of SGD 17,000 for the three months ended June 30, 2021, compared to a loss of SGD 445,000 in the same period of 2020[27] - The total comprehensive loss for the six months ended June 30, 2021, was SGD 290,000, a decrease from a loss of SGD 415,000 in the same period of 2020[27] - The company reported a net loss of SGD 415 million for the period, compared to a net loss of SGD 290 million in the previous period[34] - The profit for the six months ended June 30, 2021, was approximately SGD 0.3 million, compared to a loss of SGD 0.4 million in the same period of 2020[84] - The group reported a pre-tax loss of SGD 30,000 for the three months ended June 30, 2021, compared to a loss of SGD 448,000 for the same period in 2020[56] Expenses - The cost of materials for the three months ended June 30, 2021, was SGD 3.130 million, representing an increase of 28.5% from SGD 2.435 million in the same period of 2020[27] - Employee benefits expenses for the six months ended June 30, 2021, were SGD 2.784 million, a decrease of 4.2% compared to SGD 2.905 million in the same period of 2020[27] - The group incurred a total employee cost of SGD 1,331,000 for the three months ended June 30, 2021, slightly down from SGD 1,358,000 in the same period of 2020[46] - The company reduced employee benefits expenses to approximately SGD 2.8 million for the six months ended June 30, 2021, down from approximately SGD 2.9 million for the same period in 2020[94] Assets and Liabilities - Total assets decreased from SGD 12,327 million to SGD 11,800 million, reflecting a decline of approximately 4.3%[30] - Non-current liabilities increased from SGD 3,843 million to SGD 3,603 million, a decrease of about 6.2%[30] - Cash and cash equivalents at the end of the period were SGD 2,436 million, down from SGD 3,025 million, representing a decline of approximately 19.5%[37] - The total liabilities decreased from SGD 8,236 million to SGD 8,198 million, a reduction of about 0.5%[30] - The company’s inventory increased from SGD 874 million to SGD 1,258 million, an increase of approximately 43.9%[30] Financial Ratios and Performance Indicators - Basic and diluted loss per share for the three months ended June 30, 2021, was SGD 0.01, compared to a loss of SGD 0.02 per share in the same period of 2020[27] - The basic loss per share for the six months ended June 30, 2021, was SGD 0.02, compared to a loss of SGD 0.02 in the same period of 2020[57] - The debt-to-equity ratio as of June 30, 2021, was 0.5 times, down from 0.6 times on December 31, 2020[100] Corporate Governance and Compliance - The company is committed to high standards of corporate governance, although the roles of chairman and CEO are held by the same individual[118] - The independent non-executive director count has decreased to two, leading to non-compliance with GEM listing rules regarding committee composition[120] - The company has adopted and complied with all applicable code provisions of the corporate governance code[120] - The company has adopted a code of conduct for securities trading, which all directors confirmed compliance with during the six-month period ending June 30, 2021[117] Future Outlook and Strategic Focus - The company continues to focus on expanding its automotive service offerings and enhancing its financing services[40] - The company anticipates continued recovery in the Singapore market as COVID-19 restrictions ease, contributing positively to future revenue growth[83] - The company aims to expand its service and product offerings in response to market demand and trends in Singapore and China[89] - The Singapore government aims to increase the number of electric vehicle charging stations from approximately 2,000 to 60,000 by 2030, which may influence the company's future operations[88] Shareholder Information - Major shareholders, including Mr. Li Jie and Ms. Han Mei, each held 29.3% of the company's shares as of June 30, 2021, totaling 586,020,000 shares[111] - The board does not recommend the payment of any dividends for the six months ended June 30, 2021, consistent with the previous year[126] Miscellaneous - The company recorded other income of SGD 72,000 for the three months ended June 30, 2021, down from SGD 626,000 in the same period of 2020[27] - The expected credit loss on trade receivables was SGD 293,000 as of June 30, 2021, unchanged from December 31, 2020[61] - The group had no significant contingent liabilities, consistent with the previous year[102] - There were no related party transactions during the six-month period ending June 30, 2021[112] - The company has not disclosed any new product or technology developments, market expansions, or mergers during the reporting period[122]

Financial Performance - The company's revenue for the first quarter of 2021 was SGD 5.341 million, a decrease of 12.3% compared to SGD 6.087 million in the same period of 2020[24] - Other income and gains increased to SGD 0.224 million from SGD 0.072 million, representing a growth of 211.1% year-over-year[24] - The cost of materials decreased to SGD 2.895 million from SGD 3.500 million, reflecting a reduction of 17.3%[24] - The company reported a profit before tax of SGD 0.309 million, compared to a profit of SGD 0.033 million in the previous year, indicating a significant improvement[24] - The net profit for the period was SGD 0.260 million, up from SGD 0.033 million, marking a year-over-year increase of 687.9%[24] - Basic and diluted earnings per share increased to SGD 0.013 from SGD 0.002, showing a substantial rise of 550%[24] - Total comprehensive income for the period was SGD 0.260 million, compared to SGD 0.033 million in the same quarter of the previous year[24] - The group's revenue for the three months ended March 31, 2021, decreased by approximately 0.7 million Singapore dollars or -14% to about 5.3 million Singapore dollars, down from approximately 6.1 million Singapore dollars for the same period in 2020, primarily due to the impact of COVID-19 on the Singapore market and no recorded revenue from the Chinese market[50] - The group recorded a profit of approximately 0.3 million Singapore dollars for the three months ended March 31, 2021, compared to a profit of approximately 0.03 million Singapore dollars for the same period in 2020, mainly due to an increase in other income and revenue of about 0.2 million Singapore dollars from government subsidies[50] - The gross profit margin increased from approximately 43% for the three months ended March 31, 2020, to approximately 46% for the same period in 2021, attributed to a slight decrease in material costs[50] - The basic earnings per share for the three months ended March 31, 2021, was 0.013 Singapore cents, compared to 0.002 Singapore cents for the same period in 2020[48] - The group did not recommend any dividend for the three months ended March 31, 2021, consistent with the previous year[43] - The group’s operating expenses decreased by approximately 0.2 million Singapore dollars during the period[50] - The group’s employee benefit expenses increased by approximately 0.1 million Singapore dollars, partially offsetting the profit increase[50] Equity and Investments - The company's total equity as of March 31, 2021, was SGD 8.456 million, a decrease from SGD 8.196 million at the beginning of the year[26] - No significant investments, acquisitions, or disposals were made by the group during the three months ending March 31, 2021[81] - The company has not purchased, sold, or redeemed any of its listed securities during the three months ending March 31, 2021[74] Operational Outlook - The company has maintained a cautious outlook for future performance, considering market conditions and operational challenges[21] - The management is focused on cost control and efficiency improvements to enhance profitability moving forward[21] - The group aims to maintain its leadership position in the Singapore passenger car market by retaining existing customers and acquiring new ones through customer retention programs[55] - The group has accumulated approximately 2,000 private cars registered and operating through its innovative integrated car-sharing service platform across multiple cities in China[55] - The group plans to expand its electric vehicle charging infrastructure in Singapore, aiming to increase the number of charging stations from approximately 2,000 to 60,000 by 2030[54] - The group continues to pursue technological advancements in maintenance equipment and new car engine types to enhance service capabilities for various passenger car brands[55] - The group’s operations in China, which include car-sharing and leasing services, are expected to provide excellent opportunities for diversifying business scope and expanding revenue sources despite the challenges posed by the COVID-19 pandemic[52] Governance and Compliance - The group’s financial statements are prepared in accordance with International Financial Reporting Standards and reflect no significant changes in accounting policies due to the adoption of new standards effective January 1, 2021[31] - The group’s financial results are presented in Singapore dollars, with figures rounded to the nearest thousand Singapore dollars[31] - The group’s tax expenses include a 17% tax rate for profits generated in Singapore and a 25% tax rate for profits generated in China[41][42] - The company has adopted a share option scheme, but no options were granted during the three months ending March 31, 2021[75] - The company has not entered into any related party transactions during the three months ending March 31, 2021[71] - The audit committee reviewed the unaudited financial performance for the three months ending March 31, 2021[80] - The board believes that the current arrangement of having the co-chairman also serve as CEO is beneficial for effective decision-making[77] - The number of independent non-executive directors decreased to two following the resignation of Mr. Zhang Guangdong, leading to non-compliance with certain GEM listing rules[79] COVID-19 Measures - The company has implemented multiple preventive measures against COVID-19 in its subsidiaries located in Singapore and China[82]

Financial Performance - The group's revenue decreased by approximately SGD 2.2 million or -10.7% to about SGD 20.4 million for the year ended December 31, 2020, down from approximately SGD 22.6 million for the year ended December 31, 2019[9]. - The group recorded a profit of approximately SGD 1.1 million for the year ended December 31, 2020, compared to a loss of approximately SGD 1.2 million for the year ended December 31, 2019[9]. - The profit increase was primarily due to an increase in other income of approximately SGD 2.1 million, including about SGD 1.0 million from government subsidies[9]. - The group experienced a decrease in gross profit of approximately SGD 0.6 million due to reduced revenue during the year[10]. - The group's revenue decreased by approximately SGD 2.2 million or -10.7% to approximately SGD 20.4 million for the year ended December 31, 2020, primarily due to reduced earnings in the Singapore and China markets[20]. - Other income increased by approximately SGD 2.1 million, with about SGD 1.0 million derived from government subsidies and SGD 0.9 million from debt exemptions in the Singapore and China markets[27]. - Total revenue for the year ended December 31, 2020, was SGD 20,421,000, a decrease from SGD 22,603,000 in the previous year, representing a decline of approximately 9.6%[200]. - The company reported a pre-tax profit of SGD 1,145,000, compared to a pre-tax loss of SGD 1,235,000 in the previous year, indicating a significant turnaround[200]. - Net profit for the year was SGD 1,078,000, recovering from a net loss of SGD 1,237,000 in the previous year[200]. - Basic earnings per share for 2020 was SGD 0.05, compared to a loss per share of SGD 0.06 in 2019, reflecting improved profitability[200]. - Other income and gains increased to SGD 2,594,000 from SGD 480,000, showing a substantial growth of over 440%[200]. Operational Highlights - The total number of vehicles in Singapore as of December 31, 2020, was 1 million, an increase from 973,101 vehicles in 2019[10]. - The company aims to expand services and products in the Singapore and China markets despite uncertainties caused by the COVID-19 pandemic[10]. - The company has implemented a business continuity plan to minimize operational disruptions during the COVID-19 outbreak[10]. - The company remains optimistic about growth opportunities despite macroeconomic and geopolitical headwinds[11]. - The company plans to leverage its strengths in service, brand, and talent to maintain competitiveness and gain market share from competitors in Singapore[10]. - The group aims to maintain its leadership position in the Singapore passenger car market by retaining existing customers and acquiring new ones through loyalty programs[18]. - The Singapore government plans to increase the number of electric vehicle charging stations from approximately 2,000 to 60,000 by 2030, which may influence future market dynamics[17]. - The group is collaborating with partners in China to develop a C2N business model for smart shared mobility, with approximately 2,000 private cars registered across multiple cities[18]. - The group will continue to pursue technological advancements in maintenance equipment and new car engine types to enhance service capabilities[18]. Financial Stability - As of December 31, 2020, the cash and bank balances were approximately SGD 1.7 million, an increase from SGD 1.1 million as of December 31, 2019[28]. - The net cash flow from operating activities for the year was approximately SGD 1.8 million, primarily due to a decrease in trade receivables and other receivables[29]. - The debt-to-equity ratio as of December 31, 2020, was 0.6, down from 0.8 as of December 31, 2019, indicating improved financial stability[30]. - The company has maintained a policy to keep the debt-to-equity ratio at a reasonable level, reflecting prudent financial management[30]. - The company has no significant contingent liabilities as of December 31, 2020, consistent with the previous year[37]. - The long-term loans were secured by legal mortgages on properties owned by the company, with a book value of approximately SGD 2.2 million as of December 31, 2020[33]. - The company has a stock option plan that allows for the issuance of up to 200,000,000 shares, which is 10% of the total issued shares as of the report date[135]. - The company has established a remuneration committee to review the compensation policy based on performance and market practices[144]. Corporate Governance - The company emphasizes high standards of corporate governance, which is crucial for sustainable growth and maximizing shareholder value[58]. - The company has not separated the roles of chairman and CEO, believing that this structure ensures effective leadership and decision-making[58]. - Independent non-executive directors are expected to attend shareholder meetings to understand shareholder opinions, although some were absent due to prior business commitments[59]. - The company has adopted and complied with all applicable principles of the corporate governance code as of December 31, 2020[59]. - The company has adopted a board diversity policy, emphasizing diversity in gender, age, culture, education background, professional experience, skills, and knowledge[60]. - The nomination committee is responsible for reviewing and monitoring the implementation of the board diversity policy to ensure its effectiveness[61]. - The board is responsible for significant transactions, including acquisitions, investments, and capital expenditures, to enhance shareholder value[69]. - The company has maintained compliance with GEM listing rules by appointing at least three independent non-executive directors, constituting one-third of the board[74]. - The board has established a written guideline for the nomination committee to identify qualified candidates for board membership, ensuring a balance of skills and experience[62]. - The company’s independent non-executive directors have confirmed their independence according to GEM listing rules, ensuring compliance with governance standards[74]. - The board is tasked with overseeing the company's overall management and ensuring the implementation of strategic plans[68]. - The company has a code of conduct for directors regarding securities trading, ensuring adherence to established standards[65]. - The board conducts regular informal meetings to leverage the experience and expertise of non-executive directors in strategic matters[70]. - The Audit Committee held 4 meetings during the year ended December 31, 2020, reviewing the group's quarterly, interim, and annual financial performance[75]. - The Remuneration Committee conducted 2 meetings, recommending discretionary bonuses for executive directors and senior management for the fiscal year 2019[78]. - The Nomination Committee held 2 meetings, assessing the independence of independent non-executive directors and recommending the reappointment of retiring directors at the annual general meeting[79]. - The Risk Management Committee convened 1 meeting, reviewing the internal audit report and annual audit plan[80]. - The board of directors and committees maintained high attendance, with executive directors attending 100% of board meetings[86]. - The company ensured compliance with GEM listing rules and provided ongoing training for directors to enhance their knowledge and skills[85]. - The company adopted appropriate accounting standards and practices, ensuring transparency in financial reporting[75]. - The company recommended the reappointment of Ernst & Young as the independent auditor at the annual general meeting[75]. - The company emphasized the importance of internal controls and risk management in its governance practices[80]. - The company is committed to maintaining good corporate governance standards as per the corporate governance code[82]. - The board of directors is responsible for preparing financial statements that fairly reflect the group's business status, with no known significant uncertainties affecting the company's ability to continue as a going concern[89]. - The auditor's fees for the year ended December 31, 2020, amounted to SGD 213,000 for audit services, with no fees for non-audit services[91]. - The company faced delays in publishing its interim and quarterly results due to the COVID-19 pandemic, with the interim results for the six months ended June 30, 2020, published on August 26, 2020, and the third-quarter results for the nine months ended September 30, 2020, published on October 7, 2021[90]. - The board has established policies and procedures to identify, assess, and manage significant risks, ensuring the effectiveness of the risk management and internal control systems[94]. - The company has not established a corporate governance committee, and the board is responsible for corporate governance functions, including policy formulation and compliance monitoring[93]. - Shareholders have the right to request the board to convene a special general meeting if they hold at least 10% of the paid-up capital[99]. - The company secretary is responsible for ensuring compliance with board procedures and maintaining detailed meeting records[95]. - The company adopted its revised articles of association in April 2019, with no significant changes during the year ended December 31, 2020[105]. - The company emphasizes the importance of compliance with insider trading policies and keeping employees informed of regulatory updates[94]. Risk Management - The business is significantly affected by its reputation and consumer perception of service quality, with potential negative publicity posing a major risk[110]. - Regulatory factors in Singapore, such as the Certificate of Entitlement (COE) system, may adversely impact the demand for the company's services[111]. - The company has established a healthy and safe working environment for employees, with no reported strikes or workplace accidents during the review year[156]. - The company has not entered into any stock-linked agreements during the year ended December 31, 2020, aside from its share option scheme[166]. - The audit committee reviewed the accounting principles adopted by the company and discussed internal controls and financial reporting matters for the year ended December 31, 2020[168]. - The company confirmed the independence of all independent non-executive directors in accordance with GEM listing rules[163]. - The company extended a term loan of SGD 1.5 million for six months to Funding Societies Pte Ltd on January 20, 2021[164]. - As of December 31, 2020, trade receivables amounted to SGD 1,387,000, with an expected credit loss provision of SGD 293,000, representing 7% of the total assets[180]. - The group's third-party loans receivable totaled SGD 1,596,000 as of December 31, 2020, with no expected credit loss provision made, accounting for 8% of total assets[180]. - The inventory as of December 31, 2020, was valued at SGD 1,236,000, with an obsolete inventory provision of SGD 383,000[181]. - The management's assessment of the obsolete inventory provision involves significant judgment and estimation, impacting the financial statements[181]. - The audit process included evaluating the adequacy of provisions for trade receivables and third-party loans, which are considered critical audit matters due to their significance[182]. - The financial statements were prepared in accordance with International Financial Reporting Standards and reflect a true and fair view of the group's financial position as of December 31, 2020[175]. - The independent auditor's report confirmed that the financial statements were free from material misstatement due to fraud or error[192]. - The group has established a provision matrix based on historical credit loss experience to calculate expected credit losses for trade receivables and third-party loans[180]. - The management's assumptions and estimates used in determining the historical loss rates and considering forward-looking factors were evaluated during the audit[182]. - The financial disclosures related to trade receivables and inventory provisions are detailed in the notes to the consolidated financial statements[180][181]. Shareholder Information - The group reported that the sales from the top five customers accounted for approximately 15.8% of total sales for the year ended December 31, 2020, with the largest customer contributing about 5.6%[113]. - The procurement amount from the top five suppliers represented approximately 31.3% of total procurement for the year ended December 31, 2020, with the largest supplier accounting for 7.9%[113]. - The board proposed no dividend for the year ended December 31, 2020, consistent with the previous year[115]. - The company has not made any significant charitable donations during the year ended December 31, 2020, similar to the previous year[116]. - The company operates primarily in the passenger vehicle service industry, providing maintenance, modification, and extended warranty services[109]. - The company did not engage in any related party transactions that met the definition of connected transactions under GEM Listing Rules during the year[145]. - The company has no unexercised stock options or similar rights as of December 31, 2020[138]. - The company maintained compliance with GEM listing rules regarding public float since its listing date[147]. - There were no significant acquisitions or disposals related to subsidiaries or associates during the year ended December 31, 2020[160]. - The company did not enter into any non-exempt connected transactions or continuing connected transactions during the year ended December 31, 2020[146]. - The company has adhered to local laws and regulations, with no significant violations reported during the year[153].

Financial Performance - For the three months ended September 30, 2020, the company reported revenue of SGD 5.666 million, a decrease of 12.9% compared to SGD 6.503 million in the same period of 2019[26]. - The company incurred a loss before tax of SGD 137,000 for the three months ended September 30, 2020, compared to a loss of SGD 204,000 in the same period of 2019, representing a 32.8% improvement[26]. - The total comprehensive loss for the three months ended September 30, 2020, was SGD 161,000, compared to SGD 190,000 in the same period of 2019, indicating a 15.3% reduction in losses[26]. - For the nine months ended September 30, 2020, the company reported total revenue of SGD 15.935 million, down 13.6% from SGD 18.439 million in the same period of 2019[26]. - The company recorded a loss of SGD 570,000 for the nine months ended September 30, 2020, compared to a loss of SGD 940,000 in the same period of 2019, reflecting a 39.2% improvement[26]. - The basic and diluted loss per share for the three months ended September 30, 2020, was SGD 0.01, unchanged from the same period in 2019[26]. - The basic loss per share for the nine months ended September 30, 2020, was (8.03) Singapore cents, compared to (0.05) Singapore cents for the same period in 2019[49]. - The company reported a total comprehensive loss of SGD 573,000 for the nine months ended September 30, 2020, compared to a loss of SGD 940,000 for the same period in 2019[47]. Revenue and Income - The company reported other income and gains of SGD 307,000 for the three months ended September 30, 2020, compared to SGD 22,000 in the same period of 2019, marking a significant increase[26]. - For the three months ended September 30, 2020, customer contract revenue was SGD 5,666,000, a decrease of 12.9% compared to SGD 6,503,000 for the same period in 2019[39]. - For the nine months ended September 30, 2020, customer contract revenue was SGD 15,935,000, down 13.6% from SGD 18,439,000 in the same period of 2019[39]. - Other income and revenue increased by approximately SGD 0.9 million due to government subsidies received during the COVID-19 pandemic[60]. Costs and Expenses - Material costs for the three months ended September 30, 2020, were SGD 3.310 million, a decrease of 10.2% from SGD 3.689 million in the same period of 2019[26]. - Employee benefits expenses decreased to SGD 1.292 million for the three months ended September 30, 2020, down from SGD 1.651 million in the same period of 2019, representing a 21.8% reduction[26]. - Employee benefit expenses decreased by approximately SGD 0.8 million to approximately SGD 4.2 million for the nine months ended September 30, 2020, due to a reduction in workforce across all business units[62]. - The gross profit margin decreased from approximately 46% as of September 30, 2019, to approximately 42% as of September 30, 2020, due to increased material costs[51][61]. - The gross profit margin decreased from approximately 46% to approximately 42%, a reduction of about 4% due to increased material costs[65]. - Depreciation of right-of-use assets increased by approximately SGD 0.8 million due to the adoption of IFRS 16[65]. - Amortization of intangible assets increased by approximately SGD 0.3 million, and financial expenses increased by approximately SGD 0.1 million[65]. Shareholder Information - The company has a total of 2,000,000,000 issued ordinary shares as of September 30, 2020[49]. - Major shareholders, including Mr. Li Jie and Ms. Han Mei, each held approximately 29.3% of the shares[72]. - The total number of issued shares as of September 30, 2020, was 2,000,000,000[67]. Dividends and Recommendations - The company did not recommend any dividend for the nine months ended September 30, 2020, consistent with the previous year[48]. - The board does not recommend the payment of any dividends for the nine months ended September 30, 2020, consistent with the previous year[88]. Operational Insights - The company operates primarily in the automotive service sector, including maintenance, modification, and financing services[34]. - The group has been expanding its business into the Chinese automotive market, with revenue from the Chinese subsidiary decreasing from approximately SGD 1.7 million to approximately SGD 0.6 million due to COVID-19[53]. - The group aims to maintain its leadership position in the Singapore passenger car market by retaining existing customers and acquiring new ones through loyalty programs and promotional offers[57]. - The Singapore government is promoting electric vehicle adoption, with a goal to establish 60,000 charging points by 2030, up from approximately 2,000 currently[56]. - The group is focusing on technological advancements in vehicle maintenance and engine services to enhance service capabilities for various passenger car brands[56]. - Strategic partnerships have been established in China with companies like TELD and ZBJ.com to support the development of a smart shared mobility platform[57]. Governance and Compliance - The financial statements are prepared in accordance with International Financial Reporting Standards and are presented in Singapore dollars[34]. - The company has not experienced significant changes in accounting policies due to the adoption of new and revised International Financial Reporting Standards[34]. - The audit committee reviewed the unaudited consolidated financial performance for the three months and nine months ended September 30, 2020[85]. - The company has adhered to the principles of the corporate governance code and complied with all applicable code provisions during the reporting period[84]. Risk Management - The company has implemented various preventive measures in its subsidiaries in Singapore and China to mitigate the operational risks posed by the COVID-19 outbreak, with no significant impact expected on operations[87]. - The loss for the period decreased from approximately SGD 0.9 million to approximately SGD 0.6 million, a reduction of about SGD 0.3 million[65]. - The decrease in loss was primarily due to an increase in other income and revenue of approximately SGD 0.9 million from government subsidies related to COVID-19[65]. - Employee benefit expenses decreased by approximately SGD 0.8 million, and other operating expenses decreased by approximately SGD 1.5 million[65]. - The company did not purchase, sell, or redeem any of its listed securities during the nine-month period[76]. - The company did not make any significant investments, acquisitions, or disposals in subsidiaries or associates during the nine months ended September 30, 2020[86]. - No related party transactions were established during the nine-month period ending September 30, 2020[74].

Financial Performance - For the six months ended June 30, 2020, the company reported total revenue of SGD 10.27 million, a decrease of 6.0% compared to SGD 10.94 million for the same period in 2019[15]. - The company incurred a loss before tax of SGD 373,000 for the six months ended June 30, 2020, compared to a loss of SGD 590,000 for the same period in 2019, representing a 36.8% improvement[15]. - The total comprehensive loss for the period was SGD 415,000, a decrease of 44.7% from SGD 750,000 in the previous year[15]. - The company's basic and diluted loss per share for the six months ended June 30, 2020, was SGD 0.02, unchanged from the same period in 2019[15]. - Customer contract revenue for the three months ended June 30, 2020, was SGD 4,182,000, a decrease of 35.5% compared to SGD 6,457,000 for the same period in 2019[31]. - For the six months ended June 30, 2020, customer contract revenue was SGD 10,269,000, down 13.9% from SGD 11,936,000 in the prior year[31]. - The group reported a pre-tax loss of SGD 448,000 for the three months ended June 30, 2020, compared to a loss of SGD 426,000 in the same period of 2019[49]. - The basic loss per share for the six months ended June 30, 2020, was (0.02) Singapore cents, an improvement from (0.04) Singapore cents in the same period of 2019[55]. - The group recorded a loss of approximately SGD 0.4 million for the six months ended June 30, 2020, compared to a loss of SGD 0.8 million for the same period in 2019, reflecting a reduction in losses due to government subsidies and decreased operating expenses[82]. Expenses and Costs - The cost of materials for the six months ended June 30, 2020, was SGD 5.94 million, down 5.6% from SGD 6.29 million in 2019[15]. - Employee benefits expenses decreased to SGD 2.91 million for the six months ended June 30, 2020, from SGD 3.23 million in 2019, reflecting a reduction of 9.9%[15]. - The group’s employee costs (excluding directors and top management) for the three months ended June 30, 2020, were SGD 1,358,000, a decrease from SGD 1,551,000 in the same period of 2019[32]. - Material costs decreased by approximately SGD 0.4 million to about SGD 5.9 million, resulting in a gross profit margin reduction from approximately 47% to about 42%[93]. Assets and Liabilities - Total non-current assets increased from SGD 11,566 thousand to SGD 12,214 thousand, reflecting a growth of 5.6%[18]. - Current assets decreased from SGD 9,005 thousand to SGD 8,072 thousand, a decline of 10.3%[18]. - Total liabilities decreased from SGD 13,858 thousand to SGD 13,312 thousand, a reduction of 3.9%[18]. - The total equity attributable to owners of the parent decreased from SGD 7,128 thousand to SGD 6,713 thousand, a decline of 5.8%[21]. - Non-current liabilities increased from SGD 4,879 thousand to SGD 5,092 thousand, an increase of 4.4%[18]. - The total trade and other payables increased from SGD 2,844,000 as of December 31, 2019, to SGD 3,596,000 as of June 30, 2020[71]. - The group's total borrowings decreased from SGD 5,948,000 as of December 31, 2019, to SGD 5,606,000 as of June 30, 2020[78]. Cash Flow - Net cash generated from operating activities for the six months ended June 30, 2020, was SGD 2,460 thousand, compared to a net cash used of SGD 6 thousand in the same period of 2019[23]. - The company reported a net increase in cash and cash equivalents of SGD 1,919 thousand, up from SGD 292 thousand in the previous year[23]. - Cash and cash equivalents at the end of the period increased to SGD 3,025 thousand from SGD 2,010 thousand, representing a growth of 50.4%[23]. - As of June 30, 2020, the company's cash and bank balances were approximately SGD 3.0 million, compared to SGD 1.1 million as of December 31, 2019[101]. - The net cash generated from operating activities during the period was approximately SGD 2.5 million, while cash used in investing activities was about SGD 0.2 million and cash used in financing activities was approximately SGD 0.3 million[101]. Strategic Initiatives - The company aims to enhance its market presence and explore new strategies for growth in the upcoming periods[15]. - The group has been focusing on expanding its service offerings in Singapore, including maintenance, repair, and modification services for various brands of passenger cars[83]. - The group aims to diversify its business scope and income sources through innovative integrated car rental and sales services in the Chinese market[84]. - The company aims to expand its business from new energy vehicle sales to the broader mobility sector through strategic partnerships with Yuanbao Taoche and Leshan Yitong[87]. - A strategic cooperation agreement was signed with Zhongqing Wokai to meet the growing demand for self-driving travel among China's middle class[87]. - The company plans to maintain its leadership position in the Singapore passenger car market by retaining existing customers and acquiring new ones[90]. - The company will continue to enhance its service and product offerings in response to changing customer demands in Singapore and China[90]. Governance and Compliance - The company has adopted and complied with all applicable principles of the corporate governance code as of June 30, 2020[124]. - The roles of the co-chairman and CEO are held by the same individual, which the board believes ensures consistent internal leadership and effective strategic planning[120]. - The board will continue to review the separation of the roles of chairman and CEO at an appropriate time[120]. - The company did not enter into any related party transactions during the six-month period ending June 30, 2020[114]. - There were no arrangements made for directors or their close associates to benefit from the purchase of shares or debt securities during the reporting period[109]. - The company did not purchase, sell, or redeem any of its listed securities during the six-month period ending June 30, 2020[116]. - No stock options were granted under the share option scheme during the six-month period ending June 30, 2020[118]. Impact of COVID-19 - The group has implemented several preventive measures in its subsidiaries in China and Singapore to mitigate the operational risks posed by the COVID-19 pandemic, which is not expected to have a significant impact on operations[127]. - The group's revenue decreased by approximately SGD 1.7 million or -14% to about SGD 10.3 million for the six months ended June 30, 2020, compared to approximately SGD 11.9 million for the same period in 2019, primarily due to the impact of COVID-19 on revenue from Singapore and China markets[82]. - Revenue from the group's new business in China, which includes car-sharing and long-term leasing, decreased from approximately SGD 1.1 million for the six months ended June 30, 2019, to about SGD 0.5 million for the same period in 2020 due to COVID-19[84]. - Other income and gains increased by approximately SGD 0.6 million due to government subsidies received in Singapore related to COVID-19[92].

Expenses Overview - The total other expenses for the year ended December 31, 2019, amounted to SGD 2,463,000, a decrease of 48.5% compared to SGD 4,792,000 in 2018[2] - Legal and professional fees significantly decreased to SGD 295,000 from SGD 767,000, a reduction of 61%[2] - General expenses decreased slightly to SGD 268,000 from SGD 289,000, a decline of 7.3%[2] - Other expenses, including items below SGD 100,000, totaled SGD 1,060,000 in 2019, down from SGD 1,242,000 in 2018[2] Auditor and Legal Fees - Auditor fees increased to SGD 256,000 from SGD 217,000, reflecting a rise of 18%[2] Bank Charges - Bank charges (credit card) rose to SGD 209,000 from SGD 197,000, an increase of 6.1%[2] Losses and Impairments - The company reported a loss on the sale of vehicles amounting to SGD 394,000 in 2018, which was not present in 2019[2] - The minimum lease payments under operating leases were SGD 1,367,000 in 2018, which were not applicable in 2019[2] - The impairment loss on deposits was SGD 210,000 in 2018, which was also not applicable in 2019[2] Annual Report Information - The company continues to maintain all other information disclosed in the 2019 annual report[4]

Financial Performance - Revenue for the first quarter of 2020 was SGD 6.087 million, an increase of 11.1% compared to SGD 5.479 million in the same period of 2019[14] - The company reported a pre-tax profit of SGD 33, recovering from a loss of SGD 242 in the previous year[14] - The net profit for the quarter was SGD 33, compared to a net loss of SGD 324 in the same quarter of 2019[14] - Total comprehensive income for the period was SGD 33, recovering from a total comprehensive loss of SGD 324 in the same quarter of 2019[14] - The group recorded a profit of approximately SGD 0.03 million for the three months ended March 31, 2020, compared to a loss of approximately SGD 0.3 million for the same period in 2019, primarily due to increased revenue and reduced operating costs in Singapore and China markets[46] Cost and Expenses - Material costs increased to SGD 3.500 million, up from SGD 2.852 million, reflecting a rise of 22.7%[14] - Employee benefits expenses decreased to SGD 1.286 million from SGD 1.379 million, a reduction of 6.7%[14] Earnings Per Share - The company’s basic and diluted earnings per share for the quarter was SGD 0.002, compared to a loss per share of SGD 0.016 in the previous year[14] - The company reported a basic loss per share of 0.002 Singapore cents for the three months ended March 31, 2020, compared to a loss of 0.016 Singapore cents for the same period in 2019[34] - The weighted average number of ordinary shares used for calculating basic loss per share increased from 500,000,000 to 2,000,000,000 due to a share split[34] Capital Position - The company maintained a strong capital position with total equity of SGD 7.161 million as of March 31, 2020[16] Market Strategy and Outlook - The company is focused on expanding its market presence and enhancing product offerings in the upcoming quarters[11] - Future outlook remains positive with expectations of continued revenue growth and improved profitability[11] - The group aims to maintain its leadership position in the Singapore passenger car market by retaining existing customers and acquiring new ones through loyalty programs and promotional offers[44] - The group is focused on expanding its service and product offerings in response to changing customer demands and trends in both Singapore and China[44] - The group has established strategic partnerships with Yuanbao Taoche and Leshan Yitong to enhance its capabilities in the new energy vehicle market and the automotive sales and after-sales service sectors[40][41] - The group plans to continue improving its technical skills and knowledge to provide services for various passenger car brands and drive future development in Singapore's automotive maintenance and repair market[44] - The group is committed to developing an innovative integrated service platform for automotive sales, financing, leasing, and insurance services[41] Revenue Sources - The company’s revenue is derived from various automotive services, including maintenance, modification, and financing[19] - Revenue from maintenance and repair services accounted for approximately 72.1% of total revenue for the three months ended March 31, 2020, compared to 76.3% for the same period in 2019[37] - The revenue from tuning products and services grew by 43.1%, increasing from approximately SGD 0.9 million to approximately SGD 1.3 million for the same comparative periods[37] - The revenue from the group's Chinese subsidiary increased from approximately SGD 0.38 million to approximately SGD 0.41 million for the three months ended March 31, 2020[38] Taxation - The group is subject to a 17% tax rate on estimated profits generated in Singapore and a 25% tax rate on estimated profits generated in China[27][28] - The company has no income tax obligations in the Cayman Islands[26] Shareholder Information - As of March 31, 2020, the total number of issued shares was 2,000,000,000, with Mr. Chen Huichun holding 700,000 shares, representing approximately 0.04% of the company's equity[48] - Major shareholder Mr. Li Jie held 586,020,000 shares, representing 29.3% of the company's equity as of March 31, 2020[54] Corporate Governance - The group did not enter into any related party transactions during the three months ended March 31, 2020[55] - There were no significant investments, acquisitions, or disposals made by the group during the three months ended March 31, 2020[64] - The executive director Yuan Guoshun has been reappointed as a non-executive director, while Wu Tangqing has transitioned from a non-executive to an executive director, effective April 7, 2020[65] - Wu Tangqing has been appointed as the co-chairman of the board following the director reappointments, effective April 7, 2020[65] Operational Impact of Covid-19 - The group has implemented multiple preventive measures in China and Singapore to mitigate the operational risks posed by the Covid-19 pandemic, with no significant impact expected on operations[65] Dividend Policy - The company did not recommend any dividend for the three months ended March 31, 2020, consistent with the previous year[30] - The board does not recommend any dividend payment for the three months ending March 31, 2020, consistent with the previous year[66] Acknowledgments - The company expresses gratitude to shareholders, business partners, and customers for their continued support during this period[68]

Financial Performance - The group's revenue increased from approximately SGD 17.6 million in the year ended December 31, 2018, to approximately SGD 22.6 million in the year ended December 31, 2019, representing a growth of 28.7%[26] - The group recorded a loss of approximately SGD 1.2 million for the year ended December 31, 2019, compared to a loss of approximately SGD 3.8 million for the year ended December 31, 2018[26] - Operating profit for the year ended December 31, 2019, was approximately SGD 2.5 million, a significant improvement from an operating loss of approximately SGD 1.6 million in the previous year[26] - Revenue increase of approximately SGD 5.0 million was primarily driven by subsidiaries in Singapore and China, contributing approximately SGD 3.1 million and SGD 1.9 million, respectively[27] - The group's revenue increased from approximately SGD 17.6 million in 2018 to approximately SGD 22.6 million in 2019, representing a growth of 28.7%[30] - The group recorded a loss of approximately SGD 1.2 million for the year ended December 31, 2019, an improvement from a loss of approximately SGD 3.8 million in 2018[30] - Revenue from subsidiaries in China grew from approximately SGD 0.4 million in 2018 to approximately SGD 2.3 million in 2019, indicating positive growth in the new business segment[32] - Marketing and distribution expenses decreased by approximately SGD 0.2 million, contributing to the reduction in losses[30] - The net loss for the year decreased by approximately SGD 2.6 million to approximately SGD 1.2 million for the year ended December 31, 2019, primarily due to the revenue increase and reduced marketing and distribution expenses[48] Cost Management - Material costs increased by approximately SGD 3.3 million, aligning with the revenue growth, while employee benefits expenses rose by approximately SGD 0.4 million due to an increase in staff numbers in China[27] - Material costs increased by approximately SGD 3.3 million, aligning with the revenue growth[30] - Material costs rose by approximately SGD 3.3 million or 36.7% to approximately SGD 12.1 million for the year ended December 31, 2019, aligning with the revenue increase[42] - Employee benefits expenses increased by approximately SGD 0.4 million to approximately SGD 6.1 million for the year ended December 31, 2019, due to an increase in the number of employees in the subsidiary in China[43] - Other expenses decreased by approximately SGD 2.3 million to approximately SGD 2.5 million for the year ended December 31, 2019, mainly due to reduced operating lease expenses and professional fees[47] Market Outlook - The automotive market in Singapore is expected to face uncertainties due to the vehicle growth policy implemented since February 2018, with a total of 1 million vehicles recorded as of December 31, 2019[27] - The Singapore government plans to transition all vehicles to cleaner energy by 2040, but this is not expected to significantly impact the group's business in the near term[37] - The company plans to continue enhancing customer retention through loyalty programs and expanding its service and product offerings in response to market trends in Singapore and China[40] Strategic Initiatives - The group aims to leverage its strengths in service, brand, and talent to maintain competitiveness and gain market share from competitors in Singapore[27] - Strategic cooperation agreements were signed with Yuanbao Taoche and Leshan Yitong to enhance the sales and after-sales service market for new energy vehicles[35] - The group aims to develop an innovative integrated service platform for car sales, financing, leasing, and insurance, focusing on the growing demand for self-driving travel among the middle class in China[36] Corporate Governance - The company is committed to high standards of corporate governance, regularly reviewing its practices to ensure compliance with applicable rules[84] - The board is responsible for selecting and appointing new directors, ensuring a balance of skills and diversity in line with the company's needs[87] - The company has established a risk management and internal control system, which was reviewed by the audit committee[102] - The board of directors is responsible for ensuring compliance with legal and regulatory requirements, as well as overseeing the company's governance practices[125] - The company has established policies and procedures to identify, assess, and manage significant risks, with the board responsible for the overall effectiveness of the risk management and internal control systems[126] Shareholder Relations - The company has adopted a shareholder communication policy to enhance transparency and investor confidence through various communication channels[139] - The board of directors emphasizes the importance of continuous communication with shareholders and encourages participation in all general meetings[139] - The company did not declare any dividends for the year ended December 31, 2019, consistent with the previous year[149] Employee Relations - The group provides comprehensive benefits and career development opportunities for employees, ensuring a healthy and safe work environment without any reported strikes or workplace accidents during the review year[199] - The company has a strong focus on internal controls and financial management, with a comprehensive budget management system in place[84] Risk Management - The Risk Management Committee was established on October 21, 2016, with three members, including Mr. Zhang Guangdong as the chairman[109] - The Risk Management Committee held one meeting during the year ended December 31, 2019, where it reviewed and approved the internal audit report and annual audit plan[109] - The internal audit function has been outsourced to a professional risk consulting firm to review the control environment and key business processes[126] Operational Performance - The company operates in the passenger vehicle service industry, providing maintenance, modification, and extended warranty services[143] - The company's performance is significantly influenced by its reputation and consumer perception of service quality, which can impact financial results[144] - Regulatory factors in Singapore, such as the Certificate of Entitlement (COE) system, may adversely affect the company's business operations and demand for services[145]

Revenue Performance - Revenue for the third quarter of 2019 was SGD 6,503,000, an increase of 37.4% compared to SGD 4,732,000 in the same period of 2018[23] - Revenue from customer contracts for the nine months ended September 30, 2019, was SGD 18,439,000, up from SGD 12,919,000 in the same period of 2018, representing a 42.5% increase[38] - The group's revenue increased by approximately SGD 5.5 million or 43% from SGD 12.9 million for the nine months ended September 30, 2018, to SGD 18.4 million for the nine months ended September 30, 2019, primarily due to the opening of the new Sin Ming Autocity service center and revenue from China's "Internet+" car-sharing and integrated car rental services[61] Loss and Financial Improvement - The company reported a loss before tax of SGD 204,000 for the third quarter, significantly improved from a loss of SGD 1,068,000 in the same quarter of 2018[23] - Total comprehensive loss for the nine months ended September 30, 2019, was SGD 940,000, compared to a loss of SGD 3,093,000 for the same period in 2018, reflecting a 69.6% reduction in losses[23] - The company reported a loss of SGD 940,000 for the nine months ended September 30, 2019, compared to a loss of SGD 3,093,000 for the same period in 2018, indicating a 69.6% improvement in losses year-over-year[47] - The basic loss per share for the nine months ended September 30, 2019, was SGD (0.05), an improvement from SGD (0.15) in the same period of 2018[49] - The loss for the nine months ended September 30, 2019, was approximately SGD 0.9 million, a decrease from a loss of approximately SGD 3.1 million for the same period in 2018, attributed to increased revenue and reduced other expenses, resulting in gross profit rising from approximately SGD 6.3 million to SGD 8.5 million[64] Expenses and Cost Management - The company incurred material costs of SGD 3,689,000 in the third quarter, which was 44.4% higher than SGD 2,553,000 in the same quarter of 2018[23] - Employee benefits expenses for the third quarter were SGD 1,651,000, an increase of 17.5% from SGD 1,405,000 in the same period of 2018[23] - The company’s total expenses for the third quarter amounted to SGD 4,687,000, compared to SGD 5,000,000 in the same quarter of 2018, indicating a decrease of 6.2%[23] - Other expenses decreased from approximately SGD 3.4 million as of September 30, 2018, to approximately SGD 2.7 million as of September 30, 2019, a reduction of about SGD 0.7 million, primarily due to lower professional consultancy fees[61] - Employee benefits expenses increased by approximately SGD 0.6 million or 15% to SGD 5.0 million for the nine months ended September 30, 2019, compared to SGD 4.4 million for the same period in 2018, primarily due to an increase in headcount from business expansion in the new Sin Ming Autocity service center and subsidiaries in China[62] - Other expenses decreased by approximately SGD 0.7 million or 22% to SGD 2.7 million for the nine months ended September 30, 2019, down from SGD 3.4 million for the same period in 2018, mainly due to a reduction in professional consultancy fees[63] Strategic Initiatives and Future Plans - The company aims to expand its market presence and is exploring new product development strategies[21] - The financial report indicates a focus on improving operational efficiency and reducing costs in the upcoming quarters[21] - The company is committed to enhancing shareholder value through strategic initiatives and potential acquisitions[21] - The group aims to expand its customer base by enhancing service capabilities, market reputation, and service quality in the highly fragmented passenger car maintenance market[59] - The group plans to continue strengthening its market position in Singapore and expand its repair capabilities and customer base[59] - The group will continue to develop new business opportunities in China, leveraging its competitive advantages in the automotive service industry[55] Shareholder Information - The company did not recommend any dividends for the nine months ended September 30, 2019, consistent with the previous year[44] - The board did not recommend any dividend payment for the nine months ended September 30, 2019, consistent with the previous year[92] - The board expressed gratitude to shareholders, business partners, and customers for their continued support during the period[93] Operational Insights - The company’s subsidiaries are primarily engaged in passenger car maintenance and repair, performance modification, and sales of parts and accessories[32] - The establishment of Shenzhen Dacheng Technology Co., Ltd. focuses on car-sharing and long-term leasing in the Chinese "Internet+" car rental market[55] - The company has not experienced any significant events affecting its operations since the end of the reporting period[51] - The company incurred an income tax expense of SGD 14,000 for the three months ended September 30, 2019, with no tax expense reported for the same period in 2018[43] - Gross profit increased from approximately SGD 6.3 million as of September 30, 2018, to approximately SGD 8.5 million as of September 30, 2019, an increase of about SGD 2.2 million[61] - The number of registered new cars eligible for rebates under the vehicle emission scheme increased by approximately 60% from July 2018 to June 2019, while the number of new cars subject to fees under the same scheme decreased by about 14%[57] - The company had 2,000,000,000 shares issued as of September 30, 2019, following a share split from 500,000,000 shares[48]