REPUBLIC HEALTHCARE LIMITED INTERIM REPORT 2022 2022 中期報告 REP U BLIC HEALTHCA RE LIMITED INTREIM REPORT 2022 （於開曼群島註冊成立的有限公司） 股份代號：8357 Stock Code: 8357 REPUBLIC HEALTHCARE LIMITED (Incorporated in the Cayman Islands with limited liability) 中期報告 香港聯合交易所有限公司GEM（分別稱為「聯交所」及「GEM」）的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市的公司 帶有較高投資風險。有意投資者應了解投資於該等公司的潛在風險，並應經過審慎周詳考慮後 方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會承受較於聯交所主板買賣的證 券為高的市場波動風險，同時亦無法保證在GEM買賣的證券將會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概 ...

REPUBLIC HEALTHCARE LIMITED （於開曼群島註冊成立的有限公司） 股份代號：8357 Stock Code: 8357 REPUBLIC HEALTHCARE LIMITED (Incorporated in the Cayman Islands with limited liability) FIRST QUARTERLY REPORT 2022 2022 第一季度報告 香港聯合交易所有限公司GEM（分別稱為「聯交所」及「GEM」）的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市的公司 帶有較高投資風險。有意投資者應了解投資於該等公司的潛在風險，並應經過審慎周詳考慮後 方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會承受較於聯交所主板買賣的證 券為高的市場波動風險，同時亦無法保證在GEM買賣的證券將會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不對因本報告全部或任何部分內容而產生或因倚賴該等內容而引致 的任何損失承擔任何責任。 本報告 ...

Financial Performance - The group recorded revenue of approximately SGD 13.4 million for the fiscal year ending December 31, 2021, a decrease of about 2.6% compared to SGD 13.7 million in the fiscal year 2020[8]. - The group incurred a loss of approximately SGD 0.9 million in 2021, compared to a loss of SGD 0.1 million in 2020, primarily due to the ongoing impact of the COVID-19 pandemic and increased competition from online consultation platforms[8]. - The group's total revenue for the fiscal year ended December 31, 2021, was approximately SGD 13,366,000, a decrease of SGD 358,000 or 2.6% compared to SGD 13,724,000 in the previous fiscal year[16]. - Revenue from consultation services, medical examination services, and treatment services were approximately SGD 1,169,000 (8.8%), SGD 2,853,000 (21.3%), and SGD 9,344,000 (69.9%) respectively for the fiscal year 2021[18]. - The revenue from treatment services increased by approximately SGD 298,000 to SGD 9,344,000, primarily due to improved market penetration and brand awareness of existing beauty services[19]. - The total comprehensive loss for the year was approximately SGD 991,000, compared to a total comprehensive loss of SGD 165,000 in the fiscal year 2020, primarily due to the ongoing impact of Covid-19 and rising operating costs[32]. Operational Challenges - The Singapore population decreased by 1% during the year, contributing to a decline in business performance and an increase in doctor attrition rates[9]. - The group faced challenges due to a 4.1% decrease in Singapore's population, marking the largest decline since 1950, primarily affecting foreign residents and non-residents[17]. - Employee benefits expenses decreased by SGD 231,000 or 3.66% to SGD 6,080,000 due to an increase in doctor attrition rates and the closure of two treatment centers[24]. - The total number of employees decreased from 66 in the fiscal year 2020 to 49 in the fiscal year 2021[25]. Share Issuance and Funding - On September 15, 2021, the group issued 104,000,000 new shares, raising approximately HKD 20,396,688, with 60% allocated for business expansion and potential acquisitions, and 40% for operational funding[11]. - The group issued 104,000,000 new shares at a placement price of HKD 0.2014 per share, increasing the total issued shares to 624,000,000 as of December 31, 2021, representing a 16.67% increase[35]. - The net proceeds from the share placement, after deducting commissions and related expenses, were approximately HKD 20 million, with about 60% allocated for business expansion and potential acquisitions[36]. - The net proceeds from the share placement and public offering amount to approximately SGD 9.1 million, with a share price of HKD 0.60 per share[57]. Cash and Equity Position - As of December 31, 2021, the total equity of the group was approximately SGD 15.5 million, an increase from approximately SGD 13.0 million in the fiscal year 2020[38]. - The group's cash and bank balances as of December 31, 2021, were approximately SGD 13.3 million, compared to SGD 13.1 million in the fiscal year 2020[38]. - The capital debt ratio as of December 31, 2021, was 9.9%, a decrease from 21.1% in the fiscal year 2020[38]. - The company has no distributable reserves as of December 31, 2021, the same as in 2020[102]. Corporate Governance - The company is committed to maintaining high standards of corporate governance to protect and enhance shareholder value[151]. - The company has adopted corporate governance practices in accordance with the GEM Listing Rules, ensuring compliance with all applicable code provisions[152]. - The board of directors includes Dr. Chan Chi-sum as the chairman and independent non-executive directors Mr. Yang Tak-chuen, Mr. Soh Sai Kiang, and Mr. Kevin John Chia[104]. - The company has established a compensation policy that considers the overall performance of the group and individual contributions when reviewing the remuneration of all directors and senior management[114]. - The company has received written confirmations from all controlled persons, confirming compliance with the non-competition agreement during the year[122]. Risk Management and Internal Controls - The company has implemented policies and procedures for risk management and internal controls, with the board responsible for monitoring their effectiveness[197]. - The board confirmed that the risk management and internal control systems are designed to manage risks rather than eliminate them, providing reasonable assurance against material misstatements or losses[198]. - The company has a code of conduct and compliance manual applicable to directors and employees, which is reviewed and monitored regularly[190]. Future Plans and Investments - The company aims to expand its existing business and invest in potential acquisitions to enhance its competitive advantage[62]. - The company is exploring new opportunities for vertical expansion, including the establishment of new specialized medical treatment centers and the development of ancillary healthcare products and services[66]. - The company has allocated SGD 1.5 million for general working capital, with SGD 1.6 million expected to be utilized[59]. Social Responsibility - The group made a charitable donation of approximately SGD 5,000 to a non-profit organization focused on LGBTQ+ welfare during the fiscal year[98].

Financial Performance - The group recorded revenue of approximately SGD 10.4 million for the nine months ended September 30, 2021, an increase of about 7.9% compared to SGD 9.6 million for the same period last year[4]. - Gross profit for the period was approximately SGD 6.9 million, slightly down by about 0.9% from SGD 6.8 million in the previous year[4]. - The group reported a net loss after tax of approximately SGD 0.9 million, compared to a net profit of SGD 0.3 million in the same period last year[5]. - The group reported a basic loss per share of SGD (0.17) for the nine months ended September 30, 2021, compared to a profit of SGD 0.06 for the same period in 2020[22]. - The group’s total revenue for the three months ended September 30, 2021, was SGD 3.0 million, a decrease from SGD 4.1 million in the same period in 2020[17]. - The group’s medical examination service revenue for the three months ended September 30, 2021, was SGD 0.7 million, down from SGD 1.0 million in the same period in 2020[17]. Expenses and Costs - Employee benefits expenses increased by approximately SGD 0.6 million or 13.8% to SGD 4.6 million, attributed to efforts to retain and attract staff[5]. - Depreciation of property, plant, and equipment rose by approximately 94.6% to about SGD 1.4 million, driven by new treatment centers[5]. - Other operating expenses increased by approximately SGD 0.9 million or 60.1% to SGD 2.4 million, due to marketing and promotional activities[5]. - Gross profit rose to approximately SGD 6.9 million, while the gross profit margin decreased from about 70.7% to approximately 66.1% due to increased medical supplies and professional costs[32]. - Depreciation expenses rose by approximately SGD 0.7 million or 94.6% to about SGD 1.4 million, mainly due to the establishment of new treatment centers[34]. Equity and Capital - Total equity as of September 30, 2021, was approximately SGD 15.9 million, reflecting changes in retained earnings and currency translation reserves[10]. - Cash and cash equivalents amounted to approximately SGD 13.7 million as of September 30, 2021, an increase from SGD 13.0 million as of December 31, 2020[41]. - The capital debt ratio was approximately 13.4% as of September 30, 2021, down from 20.8% as of December 31, 2020[42]. - The group completed a placement of 104 million shares, raising approximately HKD 20 million, with 60% allocated for business expansion and 40% for working capital[45]. Corporate Governance - The company has adopted corporate governance standards in compliance with GEM listing rules, ensuring a minimum number of independent non-executive directors[53]. - The company has established a code of conduct for directors' securities transactions, ensuring compliance with GEM listing rules[55]. - The company is committed to enhancing corporate governance practices regularly[53]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated financial statements and confirmed compliance with applicable accounting standards and regulations[69]. Business Operations - The group has nine DTAP clinics and one S Aesthetics clinic operational as of the report date, with plans to explore additional primary care business opportunities[28]. - The group aims to enhance its brand image and connect with existing and new customers through various marketing initiatives[5]. - The Singapore government has implemented community safety measures in response to the rising COVID-19 cases, which may impact the healthcare sector's operations[28]. - The group completed the acquisition of six clinics on April 1, 2020, as part of its internal restructuring[13]. Shareholder Information - As of September 30, 2021, Dr. Chen held 350,000,000 shares, representing 56.09% of the company's issued shares[60]. - Cher Sen Holdings Limited, controlled by Dr. Chen, holds all issued shares, making him the beneficial owner[61]. - Liu Hewen owns 52,630,000 shares, accounting for 8.43% of the total issued shares[64]. - The company has not granted or agreed to grant any options under the share option plan since its adoption[58]. - The share option plan allows for a maximum of 10% of the issued share capital to be granted as options[58]. Miscellaneous - The company has not disclosed any new product developments or market expansions in the report[68]. - There were no significant investments or acquisitions during the period[47]. - There were no significant events affecting the company after September 30, 2021, up to the report date[52]. - The company did not redeem any of its listed securities during the reporting period[67]. - The company has not purchased or sold any of its listed securities during the reporting period[67]. - The compliance advisor has no interests in the company's securities as of September 30, 2021[66]. - No directors or controlling shareholders have interests in any competing businesses during the reporting period[65]. - The company’s financial reporting process and internal controls are monitored by the audit committee[69].

Financial Performance - The group recorded revenue of approximately SGD 7.4 million for the six months ended June 30, 2021, representing an increase of about 32.6% compared to SGD 5.6 million for the same period in 2020[9]. - Gross profit for the period was approximately SGD 4.8 million, up about 20.9% from SGD 4.0 million in the previous year[9]. - Revenue from treatment services saw the highest growth, increasing from approximately SGD 3.6 million to about SGD 5.2 million, a rise of SGD 1.6 million[9]. - The group reported a net loss of approximately SGD 0.6 million for the period, consistent with the net loss of SGD 0.6 million in the same period last year[10]. - The company reported a profit of SGD 65,902 for the fiscal year, but a significant loss of SGD (564,640) was recorded during the six months ended June 30, 2021[15]. - Revenue for the three months ended June 30, 2021, was SGD 3,412,893, a 62.0% increase from SGD 2,107,833 in the same period of 2020[39]. - Revenue for the six months ended June 30, 2021, reached SGD 7,361,976, up 32.5% from SGD 5,553,010 in the same period of 2020[39]. - The company reported a basic loss per share of SGD (0.11) for both the three and six months ended June 30, 2021, compared to SGD (0.13) and SGD (0.11) respectively in 2020[45]. Expenses and Liabilities - Employee benefit expenses increased by SGD 0.3 million due to the rise in the number of treatment centers and efforts to retain and attract staff[10]. - Other operating expenses rose by approximately SGD 0.8 million, driven by increased marketing and treatment center-related costs[10]. - Marketing expenses increased by SGD 0.5 million compared to the previous year, reflecting enhanced promotional efforts[10]. - Total assets decreased from SGD 19,344,264 as of December 31, 2020, to SGD 17,346,366 as of June 30, 2021, representing a decline of approximately 10.3%[13]. - Current liabilities reduced significantly from SGD 4,142,918 as of December 31, 2020, to SGD 2,622,755 as of June 30, 2021, a decrease of about 36.6%[14]. - The company’s total liabilities decreased from SGD 6,087,760 as of December 31, 2020, to SGD 4,650,299 as of June 30, 2021, a decrease of approximately 23.6%[14]. Cash Flow and Assets - The net cash used in operating activities for the six months ended June 30, 2021, was SGD (122,019), an improvement compared to SGD (755,041) for the same period in 2020[16]. - Cash and cash equivalents decreased from SGD 13,068,056 at the beginning of the period to SGD 11,601,873 at the end of the period, a reduction of approximately 11.2%[16]. - The company’s inventory decreased from SGD 883,274 as of December 31, 2020, to SGD 616,164 as of June 30, 2021, a reduction of about 30.2%[13]. - The carrying amount of right-of-use assets as of June 30, 2021, was SGD 2,249,242, down from SGD 2,954,644 as of December 31, 2020[52]. - Cash and cash equivalents decreased to SGD 11.6 million as of June 30, 2021, down from SGD 13.1 million as of December 31, 2020[58]. Corporate Governance and Shareholder Information - The company has adopted and complied with all applicable corporate governance codes as per GEM listing rules during the reporting period[102]. - As of June 30, 2021, the total number of issued shares of the company was 520,000,000[109]. - Dr. Chen Zhi Xian holds 390,000,000 shares, representing 75% of the company's issued shares[109]. - Cher Sen Holdings Limited, wholly owned by Dr. Chen, is the direct shareholder of the company[110]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated financial statements and found them compliant with applicable accounting standards[118]. Market Outlook and Strategic Initiatives - The group anticipates uncertainty in the recovery of the primary care market until Singapore reopens its borders[10]. - Management anticipates challenges in business operations due to ongoing COVID-19 restrictions and increased competition in the primary healthcare sector[69]. - The company plans to reshape its existing business model and seek collaborative opportunities to adapt to market changes[69]. - The company has decided not to declare an interim dividend for the current period, consistent with the previous year[64]. Investments and Capital Management - The net proceeds from the share issuance amounted to approximately SGD 9.1 million, with planned uses including expanding the DTAP treatment center network and enhancing IT infrastructure[94]. - The company has not recognized any overseas profits tax for entities registered in the British Virgin Islands or the Cayman Islands due to tax exemptions[41]. - The company has incurred about SGD 1,051,000 for renovations and fixed asset purchases for the new DTAP treatment center located in Jurong as of June 30, 2021[99]. - The company has spent approximately SGD 1,028,000 on renovations and fixed asset purchases for the new SA treatment center in Jurong as of June 30, 2021[99]. - The company has invested around SGD 383,000 to upgrade existing information technology infrastructure and systems as of June 30, 2021[100].

Financial Performance - The company recorded revenue of SGD 3.9 million for the three months ended March 31, 2021, an increase of approximately 14.6% compared to SGD 3.4 million for the same period in 2020[5] - Gross profit for the period was SGD 2.6 million, up about 6.8% from SGD 2.5 million in the same period last year[5] - The net profit after tax was approximately SGD 228,000, a significant increase from SGD 95,000 in the previous year, despite rising employee benefits and operating expenses[5] - The total comprehensive income for the period attributable to the owners of the company was SGD 228,000, compared to SGD 94,609 in the previous year[8] - Revenue for the first quarter of 2021 increased by approximately SGD 0.5 million or 14.6% to about SGD 3.9 million compared to the same period in 2020[29] - Treatment services generated revenue of SGD 2,823,280, accounting for 71.5% of total revenue, while medical examination services and consultation services contributed SGD 811,025 and SGD 314,777, respectively[19] - Basic earnings per share for the first quarter of 2021 were SGD 0.00, a decrease from SGD 0.02 in the same period last year[26] - The group recorded a profit of approximately SGD 228,000, a decrease of over 90% compared to SGD 940,000 in Q1 2020[40] Operating Expenses - Employee benefits expenses increased by approximately 8.1% to SGD 1.4 million due to efforts to attract and retain talent for expansion plans[5] - Other operating expenses rose by approximately 69.8% to SGD 0.9 million, attributed to increased promotional activities and the expansion of medical treatment centers from 7 to 10[5] - The increase in operating expenses is primarily due to the operation of more clinics, leading to higher marketing and rental costs[39] - Employee benefits expenses increased by approximately SGD 100,000 or 8.1% to about SGD 1.4 million due to efforts to retain and attract talent for expansion plans[40] - Other operating expenses rose by approximately SGD 400,000 or 69.8% to about SGD 900,000, attributed to increased investments in marketing and promotion activities[40] Dividends and Equity - The board has decided not to declare any dividends for the period, consistent with the previous year[6] - The company’s total equity as of March 31, 2021, was SGD 13.26 million, reflecting the retained earnings and comprehensive income for the period[9] Corporate Structure and Strategy - The company has undergone internal restructuring, acquiring six medical treatment centers, which has been accounted for as a common control transaction[13] - The company continues to focus on expanding its network of medical treatment centers in Singapore to enhance its market presence[11] - The company operates nine DTAP clinics and one S Aesthetic clinic, with plans to expand brand awareness and assess new potential locations[31] - The company has terminated the lease agreement for its Orchard location and is currently seeking alternative premises[31] Financial Position - As of March 31, 2021, the group's cash and cash equivalents were approximately SGD 12.2 million, down from SGD 13.1 million as of December 31, 2020[43] - The capital debt ratio as of March 31, 2021, was 19.0%, a decrease from 20.8% as of December 31, 2020[44] - The group maintained a strong liquidity position with sufficient financial resources to meet operational funding needs[44] Employment and Compliance - The group had 64 employees in Singapore as of March 31, 2021, down from 66 employees as of December 31, 2020[42] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated financial statements and found them compliant with applicable accounting standards and regulations[70] - There were no significant contingent liabilities as of March 31, 2021[48] Shareholding - As of March 31, 2021, Cher Sen holds 390,000,000 shares, representing 75% of the total issued shares of 520,000,000[64] - The company did not repurchase any of its listed securities during the reporting period[68]

Financial Performance - The group's revenue for the fiscal year ended December 31, 2020, was approximately SGD 13.7 million, a slight increase of about 1.9% compared to SGD 13.5 million for the fiscal year 2019[11]. - The group recorded a profit of approximately SGD 66,000 for the fiscal year 2020, compared to a profit of SGD 600,000 in fiscal year 2019, primarily due to the impact of COVID-19 on expected revenue and increased operating costs from three new treatment centers[11]. - The group's total revenue for the fiscal year 2020 was approximately SGD 13,724,000, an increase of SGD 262,000 or 1.9% compared to SGD 13,462,000 in fiscal year 2019[19]. - Total comprehensive income for the year was approximately SGD 44,000, a decrease from SGD 638,000 in the previous fiscal year, primarily due to the impact of Covid-19 and increased operating costs from the opening of three new treatment centers[36]. - The group reported a net cash inflow from operating activities of approximately SGD 0.8 million, compared to a net cash outflow of SGD 2.7 million in the previous fiscal year[38]. - The group’s total equity as of December 31, 2020, was approximately SGD 13.3 million, slightly up from SGD 13.2 million in the previous fiscal year[38]. - The group did not declare a final dividend for the year, consistent with the previous fiscal year[37]. - The company had no distributable reserves as of December 31, 2020, consistent with the previous year[99]. Revenue Breakdown - Revenue from consultation services decreased from approximately SGD 1,355,000 in 2019 to SGD 1,296,000 in 2020, a decline of about 4.4%[21]. - Revenue from medical examination services fell from approximately SGD 4,040,000 in 2019 to approximately SGD 3,382,000 in 2020, a decrease of about 16.3%[22]. - Revenue from treatment services increased from approximately SGD 8,067,000 in 2019 to approximately SGD 9,046,000 in 2020, a growth of about 12.1%[22]. - The group’s treatment services accounted for 65.9% of total revenue in 2020, up from 59.9% in 2019, indicating a shift in revenue contribution[22]. Operational Expansion - The group operates a network of ten DTAP treatment centers and one SA treatment center, with plans to establish at least two additional treatment centers in the fiscal year 2021[12]. - The group launched a treatment center in Tanjong Pagar in fiscal year 2020, providing rapid STD and HIV testing services[12]. - The group opened three new treatment centers (Kovan, Orchard, and Tanjong Pagar), contributing to improved revenue despite challenges from Covid-19[18]. - The group aims to expand its market share in primary care and seeks to explore business opportunities outside of Singapore to become a preferred healthcare provider in Asia[13]. - The group aims to expand its market share in the primary healthcare sector through its brand DTAP (Dr. Tan & Partners) as demand for healthcare services in Singapore is expected to grow[18]. Expense Management - Employee benefits expenses increased by SGD 1,759,000 or 38.6% to SGD 6,311,000 due to increased staffing for the new treatment centers[27]. - Other operating expenses rose by approximately SGD 458,000 or 18.2% to about SGD 3,000,000, largely driven by increased marketing expenditures[31]. - The group will continue to manage expenses effectively and streamline workflows to improve productivity and ensure financial sustainability[13]. Corporate Governance - The board of directors experienced changes, with Mr. Liu Wei Hung replacing Mr. Leung Ho Shan as the chairman of the audit committee[14]. - The company has a strong management team with extensive experience in finance and healthcare sectors[75]. - The board of directors consists of four members, with independent non-executive directors making up over 50% of the board[155]. - All independent non-executive directors confirmed their independence in accordance with GEM listing rules, ensuring compliance with the requirement for independent oversight[156]. - The company has implemented a fair disclosure policy to ensure compliance with GEM listing rules and has strict measures against unauthorized use of confidential information[200]. Shareholder Information - As of December 31, 2020, the total number of shares issued by the company was 520,000,000[129]. - Dr. Chen holds 390,000,000 shares, representing 75% of the company's issued shares[128]. - Cher Sen Holdings Limited, fully owned by Dr. Chen, is the direct shareholder of the company with 390,000,000 shares[131]. - The company maintains sufficient public float, with at least 25% of its issued shares held by the public as per GEM listing rules[134]. Risk Management - The company has established policies and procedures for risk management and internal controls, ensuring the effectiveness of these systems[195]. - The board of directors is responsible for overseeing the risk management and internal control systems, which are deemed adequate and effective for the review period[195]. - The company has a structured approach to managing risks associated with its daily operations, with management identifying risks for board review[195]. Audit and Compliance - The audit committee, consisting of three independent non-executive directors, reviewed the annual audited consolidated financial statements and deemed them to be properly prepared in accordance with applicable accounting standards and GEM listing rules[145]. - Baker Tilly TFW LLP was appointed as the independent auditor for the fiscal year ending December 31, 2018, and will be proposed for reappointment at the 2021 annual general meeting[147]. - The total remuneration for the independent auditor for the year ended December 31, 2020, was SGD 140,000 for audit services[191]. - The company has complied with all relevant laws and regulations without any major violations during the year[138].

第三季度 報告 香港聯合交易所有限公司GEM（分 別 稱 為「聯 交 所」及 「GEM」）的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起 其他在聯交所上市的公司帶有較高投資風險。有意投資者應了解投資 於該等公司的潛在風險，並應經過審慎周詳考慮後方作出投資決定。 2020年財務摘要（未經審核） 本集團於截至2020年9月30日止九個月（「本期間」）錄得收益約9.6百萬新加坡元，較2019 年同期（「去年同期」）約為9.8百萬新加坡元減少約1.7%。 本集團於本期間的毛利約為6.8百萬新加坡元，與去年同期約6.9百萬新加坡元維持相同。 本集團於本期間錄得除稅後淨溢利約0.3百萬新加坡元，較去年同期約為1.3百萬新加坡 元減少約75.7%。除稅後溢利減少主要是由於本期間僱員福利開支大幅增加所致。於本 期間僱員福利開支約為4.0百萬新加坡元，較去年同期約3.2百萬新加坡元增加約25.1%， 此乃主要歸因於招聘新醫生、美容師及診治中心助理。 董事會（「董事會」）已議決不就本期間宣派股息（去年同期：無）。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會承受 較於聯交所主板買賣的證券為 ...

中期報告 2020 INTERIM REPORT 2020 INTERIM REPORT 中期報告 2020 香港聯合交易所有限公司GEM（分 別 稱 為「聯 交 所」及 「GEM」）的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起 其他在聯交所上市的公司帶有較高投資風險。有意投資者應了解投資 於該等公司的潛在風險，並應經過審慎周詳考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會承受 較於聯交所主板買賣的證券為高的市場波動風險，同時亦無法保證在 GEM買賣的證券將會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本報告全 部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任 何責任。 本報告乃遵照GEM證券上市規則（「GEM上市規則」）的規定而提供有關 Republic Healthcare Limited（「本公司」，連同其附屬公司統稱「本集團」） 的資料。本公司的董事（「董事」）願共同及個別就本報告負全責，並在 作出一切合理查詢後確認，據彼等所深知及確信， ...

Financial Performance - The company recorded revenue of approximately SGD 3.4 million for the three months ended March 31, 2020, an increase of about 21.1% compared to SGD 2.8 million for the same period in 2019[6]. - Gross profit for the period was approximately SGD 2.5 million, representing a 29.4% increase from SGD 1.9 million in the previous year[6]. - Net profit after tax was approximately SGD 95,000, a decrease from SGD 268,061 in the same period last year, primarily due to an increase in tax expenses of SGD 189,000[7]. - Basic earnings per share decreased from SGD 0.05 to SGD 0.02, with profit attributable to owners of the company falling from SGD 268,221 to SGD 94,609[23]. - The group recorded a profit of approximately SGD 95,000 for the period, a decrease of about SGD 200,000 compared to the profit of approximately SGD 300,000 in Q1 2019[36]. Employee Expenses - Employee benefits expenses increased by approximately 44.9% to about SGD 1.3 million, driven by an increase in the number of employees[6]. - Employee benefits expenses increased by approximately SGD 0.4 million or 44.9% to about SGD 1.3 million, primarily due to the hiring of new doctors and staff[32]. - The group had 53 employees in Singapore as of March 31, 2020, compared to 51 employees as of December 31, 2019[39]. Operating Expenses - Other operating expenses increased by approximately SGD 115,000, mainly due to increased marketing efforts and advertising to enhance market awareness[6]. - Other operating expenses increased by approximately SGD 115,000 due to increased marketing efforts and advertising campaigns to enhance brand awareness[35]. - The company’s operating lease expenses have been impacted by the adoption of IFRS 16, resulting in depreciation being recognized instead of rental expenses[6]. Equity and Cash Position - The total equity attributable to the company’s owners as of March 31, 2020, was SGD 13.3 million, an increase from SGD 12.8 million at the end of the previous year[11]. - As of March 31, 2020, the group's cash and cash equivalents were approximately SGD 12.9 million, up from SGD 5.9 million as of December 31, 2019[40]. - The capital debt ratio as of March 31, 2020, was 17.0%, a decrease from 18.6% as of December 31, 2019[41]. - The group has no bank borrowings as of March 31, 2020[40]. - The group maintains a prudent policy for managing cash reserves to ensure readiness for future growth opportunities[46]. Dividends - The company did not declare any dividends for the period, consistent with the previous year[8]. - The board has resolved not to declare any dividends for the period, consistent with the previous year[38]. Business Expansion - The company is actively expanding its network of medical treatment centers, with recent acquisitions planned for April 2020[15]. - The company operates seven DTAP treatment centers and plans to establish two additional centers post-lockdown[29]. - The company continues to focus on expanding market share and enhancing brand reputation in the healthcare sector despite challenges posed by COVID-19[28]. Compliance and Governance - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements and confirmed compliance with applicable accounting standards and GEM listing rules[65]. - The company has established an audit committee in accordance with corporate governance code provisions and GEM listing rules[65]. - The chairman and executive director is Dr. Chen Zhi Xian, with the financial director being Mr. Zhuo Han Wen[66]. - The company has disclosed that there are no conflicts of interest with any directors or controlling shareholders[61]. - The report was dated May 8, 2020, indicating the company's ongoing commitment to transparency and compliance[66]. Tax Expenses - The company reported a current tax expense of SGD 243,607 for the first quarter of 2020, compared to SGD 54,903 in the same period last year[21]. Revenue Composition - Treatment services accounted for approximately 64.5% of total revenue, while medical examination services and consultation services contributed 25.8% and 9.7%, respectively[27]. Accounting Policies - The company has maintained its accounting policies consistent with those used in the preparation of the audited financial statements for 2019[19]. - The company has not experienced significant changes in accounting policies due to the adoption of new or revised International Financial Reporting Standards[19]. Shareholding and Securities - As of March 31, 2020, Cher Sen holds 390,000,000 shares, representing 75% of the total issued shares of 520,000,000[63]. - The company did not redeem any of its listed securities during the period, nor did it or any of its subsidiaries purchase or sell such securities[64]. - There were no other entities, aside from those disclosed, that held interests in the company's shares as of March 31, 2020[60]. - The compliance advisor, Tian Tai Financial Services Limited, reported no interests in the company's securities as of March 31, 2020[62]. - The company has not reported any interests from directors or controlling shareholders in competing businesses during the period[61].