SUNLIGHT (1977) HOLDINGS LIMITED 日光(1977)控股有限公司 (Incorporated in the Cayman Islands with limited liability) (於開疊群島註冊成立的有限公司) Stock Code 股份代號 : 8451 2021 ThirdQuarterly Report Third Quarterly Report SUNLIGHT M-FOLD PAPER TOWEL SUNLIGHT -FOLD PAPER TOWEL SUNLIGHT M-FOLD PAPER TOWEL 0000 I Glov Vin) CHARACTERISTICS OF GEM GEM之特色 GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exc ...

Financial Performance - The Group's revenue for the Relevant Period was $5.9 million, representing a decrease of $2.7 million or 31.4% compared to $8.7 million in the Previous Period[7]. - The Group's profit for the Relevant Period was $166,000, down from a profit of $363,000 in the Previous Period[7]. - Gross profit for 2021Q2 was $1.559 million, compared to $1.992 million in 2020Q2[11]. - Revenue from external customers for Q2 2021 was $5,934,000, a decrease of 31.5% compared to $8,650,000 in Q2 2020[67][81]. - Reportable segment profit for Q2 2021 was $1,559,000, down 21.7% from $1,992,000 in Q2 2020[91][87]. - Consolidated profit before taxation for Q2 2021 was $226,000, a decline of 50.1% from $453,000 in Q2 2020[91]. - The profit and total comprehensive income for the period was $363,000[20]. - The Group's basic and diluted earnings per share for 2021Q2 were 0.02 cents, down from 0.05 cents in 2020Q2[11]. - Basic earnings per share for Q2 2021 was 0.02 cents, down from 0.05 cents in Q2 2020[123]. - The Group did not declare any dividends for Q2 2021, consistent with Q2 2020[126]. Assets and Liabilities - Total assets as of March 31, 2021, amounted to $26.378 million, slightly up from $26.232 million as of September 30, 2020[16]. - Total liabilities as of March 31, 2021, were $10.524 million, compared to $10.544 million as of September 30, 2020[16]. - As of March 31, 2021, total equity amounted to $15,854,000, an increase from $15,688,000 on October 1, 2020[23]. - Current assets included inventories of $6.982 million and cash and cash equivalents of $14.413 million as of March 31, 2021[16]. - As of March 31, 2021, trade receivables decreased to $1,688,000 from $3,051,000 as of September 30, 2020, representing a reduction of approximately 44.6%[138]. - Trade payables decreased to $787,000 as of March 31, 2021, down from $1,647,000 as of September 30, 2020, indicating a decline of approximately 52.2%[192]. - Borrowings as of March 31, 2021, include a Singapore government loan of $7,000,000, unchanged from September 30, 2020, which is interest-free and unsecured[185]. Cash Flow - Net cash used in operating activities for Q2 2021 was $(180,000), an improvement from $(771,000) in Q2 2020[26]. - Net cash used in investing activities for Q2 2021 was $(685,000), compared to $(1,970,000) in Q2 2020, indicating reduced investment outflows[26]. - Cash and cash equivalents at the end of Q2 2021 were $3,012,000, down from $4,224,000 at the end of Q2 2020[26]. - The company reported a net decrease in cash and cash equivalents of $(936,000) for Q2 2021, compared to $(2,804,000) in Q2 2020[26]. Expenses - Selling and distribution expenses for the Relevant Period were $709,000, a decrease from $863,000 in the Previous Period[11]. - The Group incurred progressive costs of $293,000 for factory extension in Q2 2021, significantly lower than $1.6 million in Q2 2020[127]. - Total unallocated expenses for Q2 2021 were $1,479,000, reduced from $1,708,000 in Q2 2020[91]. - Interest expenses for Q2 2021 were $8,000, slightly up from $5,000 in Q2 2020[91]. - The company invested $293,000 in expanding its existing factory and incurred costs of $475,000 for truck purchases in the second quarter of 2021, compared to $1,600,000 in the second quarter of 2020[130]. Company Overview - The company primarily supplies tissue products to corporate customers in Singapore, focusing on tissue and hygiene-related products[36]. - The immediate and ultimate holding company is YJH Group, incorporated in the British Virgin Islands[28]. - The company has not early adopted any new IFRSs that are not yet effective, anticipating no material impact on financial statements[32]. - The unaudited condensed consolidated financial statements are prepared in accordance with International Accounting Standard 34, with all financial information presented in SGD[31]. - The Group's non-current assets are entirely located in Singapore, with operations also based there[92]. Future Outlook - The company is optimistic about recovery as Singapore entered phase three of reopening on December 28, 2020[200]. - The company will continue to evaluate development opportunities to strengthen its competitive advantage and market-leading position[200]. - The company aims to achieve sustainable growth and is committed to delivering greater returns to shareholders[200]. - The company is monitoring new tissue product developments and sourcing competitively priced tissue products[200]. - The company has built strong ties with customers and suppliers over the past 43 years, ensuring product delivery satisfaction[200]. Management and Compensation - Key management personnel compensation for Q2 2021 was $410,000, a slight decrease from $422,000 in Q2 2020[196]. Retained Earnings and Impairment - Retained earnings increased to $2,420,000 as of March 31, 2021, up from $2,254,000 as of September 30, 2020, reflecting a growth of approximately 7.4%[180]. - The allowance for impairment on trade receivables was recorded at $1,000 as of March 31, 2021, indicating a minimal impact on the overall receivables[138]. - The company expects trade receivables to be recovered within one year, reflecting a stable cash flow outlook[134]. - The revaluation reserve remains at $5,295,000 as of March 31, 2021, unchanged from September 30, 2020, indicating stability in asset valuation[177].

Financial Performance - Revenue for Q1 2021 was SGD 2,993,000, a decrease of 31.5% compared to SGD 4,377,000 in Q1 2020[16] - Gross profit for Q1 2021 was SGD 831,000, down from SGD 987,000 in Q1 2020, reflecting a gross margin of approximately 27.8%[16] - Profit before taxation increased to SGD 205,000 in Q1 2021, compared to SGD 112,000 in Q1 2020, representing an 83.0% increase[16] - Net income for the period was SGD 175,000, significantly higher than SGD 67,000 in Q1 2020, marking a 160.4% increase[16] - Earnings per share for Q1 2021 was 0.02 cents, up from 0.01 cents in Q1 2020[16] - Other income for Q1 2021 was SGD 112,000, compared to SGD 33,000 in Q1 2020, indicating a substantial increase[16] - The company reported a total comprehensive income of SGD 175,000 for the period, compared to SGD 67,000 in the previous year[16] - Revenue from tissue products was SGD 2,609,000, down 32.8% from SGD 3,879,000 in the same period last year[53] - Profit attributable to equity holders of the Company for Q1 2021 was SGD 175,000, compared to SGD 67,000 in Q1 2020, representing a significant increase[77] - Revenue for the Relevant Period was $3.0 million, a decrease of 31.6% compared to $4.4 million in the Previous Period[87] - Profit for the Relevant Period was $175,000, an increase of 161.2% compared to $67,000 in the Previous Period[95] Expenses and Cost Management - Selling and distribution expenses decreased to SGD 350,000 in Q1 2021 from SGD 434,000 in Q1 2020, a reduction of 19.4%[16] - Administrative expenses were SGD 384,000 in Q1 2021, down from SGD 403,000 in Q1 2020, reflecting a decrease of 4.7%[16] - Staff costs for Q1 2021 were SGD 518,000, a decrease from SGD 565,000 in Q1 2020[57] - The cost of inventories for Q1 2021 was SGD 1,933,000, a decrease of 39.5% from SGD 3,197,000 in Q1 2020[57] - Cost of sales was $2.2 million, a decrease of 36.2% from $3.4 million in the Previous Period[92] - Selling and distribution expenses amounted to $350,000, a decrease of 19.4% from $434,000 in the Previous Period[95] - Administrative expenses were $384,000, a slight decrease of 4.7% compared to $403,000 in the Previous Period[95] Corporate Governance and Compliance - The company has adopted the Corporate Governance Code to ensure proper regulation of business activities and decision-making processes[148] - The Audit Committee consists of three independent non-executive Directors, who reviewed the unaudited condensed consolidated financial statements for the Relevant Period[153] - The Audit Committee consists of three independent non-executive directors, including Ms. Chua Joo Gek, Mr. Ng Boon Cheow Freddie, and Mr. Tog Chek Soon, with Ms. Chua Joo Gek serving as the chairperson[155] - The company has maintained compliance with the Securities and Futures Ordinance regarding the registration of interests[131] - The company has disclosed all relevant interests and positions held by its directors and chief executives as required by the GEM Listing Rules[131] Strategic Outlook and Market Position - The company is optimistic about recovering revenue as Singapore entered phase three of reopening on December 28, 2020[87] - The company will continue to evaluate development opportunities to strengthen its competitive advantage and market position[87] - The company aims to achieve sustainable growth and greater returns for shareholders[87] - The company expects a revenue growth guidance of BB% for the upcoming quarter, driven by new product launches and market expansion strategies[172] - New product development includes the introduction of a premium tissue line, projected to contribute CC% to overall sales in the next fiscal year[171] - The company is exploring market expansion opportunities in Southeast Asia, targeting a market share increase of DD% by the end of 2022[170] - A strategic acquisition of a local competitor is anticipated to enhance the company's market position and is expected to close by the end of Q3 2021[169] - The company is considering strategic acquisitions to bolster its portfolio, with potential targets identified in the industry[178] Sustainability Initiatives - The management highlighted a focus on sustainability initiatives, with a goal to reduce carbon emissions by HH% over the next three years[170] - The company emphasized its commitment to sustainability, with plans to invest S$FF million in eco-friendly initiatives[178] Shareholder Information - Mr. Chua Liang Sie holds a long position of 576,000,000 shares in YJH Group Limited, representing a significant corporate interest[121] - Ms. Chua Joo Gek and Mr. Chua Liang Chui each hold 576,000,000 shares in YJH Group Limited, indicating a concert party agreement among the three[125] - The ownership distribution in YJH Group Limited is approximately 65.52% by Mr. Chua Liang Sie, 17.24% by Ms. Chua Joo Gek, and 17.24% by Mr. Chua Liang Chui[116] - The total number of shares held by the concert party is 576,000,000, which constitutes a substantial interest in the company[121] - As of the end of the relevant period, no other directors or chief executives have registered interests in the shares or debentures of the company[131] - The substantial shareholders' interests are recorded in the register required to be kept under Section 336 of the SFO[122] Risk Factors and Forward-Looking Statements - The report includes forward-looking statements regarding the Group's financial conditions and operational performance, which may differ materially from actual results due to known and unknown risks[155] - The report outlines the impact of COVID-19 on operations, including measures taken to mitigate risks associated with the pandemic[162] - The company reported a significant increase in revenue for Q1 2021, reaching approximately S$XX million, representing a YY% growth compared to the previous quarter[178] - User data showed an increase in active users by ZZ%, indicating strong customer engagement and retention strategies[178]

Financial Performance - The FY2020 results reflected the impact of the COVID-19 pandemic[26] - Revenue was affected by Circuit Breaker and Safe Management Measures, impacting corporate customers' ability to conduct business fully[27] - Revenue decreased by 14.5% from $15.5 million in FY2019 to $13.2 million in FY2020, primarily due to lower quantities of tissue products ordered by corporate customers[31] - Gross profit reduced by 11.5% from $3.5 million in FY2019 to $3.1 million in FY2020, with a gross profit margin improvement of 80 basis points to 23.5%[31] - Profit for FY2020 was $397,000, a slight decrease of 2.0% from $410,000 in FY2019, attributed to lower gross profit but offset by an increase in other income[31] - Revenue from external customers for FY2020 was $13.2 million, with segment profit of $3.1 million[65] - Sales of tissue products decreased by $2.4 million, representing a decrease of 17.5% due to the effects of Circuit Breaker and Safe Management Measures[90] - Sales of hygiene-related products decreased by $0.1 million, representing a decrease of 5.0%, with less severe impact as these products were mainly used in the healthcare sector[91] - Sales of other products increased by $0.2 million, representing an increase of 37.8%, driven by demand for face masks due to COVID-19[92] - Cost of sales decreased from $12.0 million to $10.1 million, representing a decrease of 15.4%, corresponding with the decrease in revenue[98] - Gross profit decreased by 11.4% from $3.5 million to $3.1 million, while gross profit margin improved by 80 basis points to 23.5%[99] - Profit attributable to the owners of the Company was $397,000, a slight decrease from $410,000 in the Previous Year[102] Operational Developments - The company leveraged its industry experience to provide non-tissue products, including face masks, to existing customers, resulting in increased revenue from other products compared to FY2019[28] - The company plans to continue evaluating development opportunities to strengthen its competitive advantage and market position[38] - The company will monitor new tissue product developments and source quality products with competitive pricing[38] - The Group's total staff costs for the Relevant Year amounted to $2.3 million, an increase of 9.5% from $2.1 million in 2019[1] - The Group upgraded its conversion line for the production of jumbo roll tissue, fully utilizing $940,000, which represents 20.7% of the allocated budget[131] - A new conversion line for the production of hand towels was planned with an allocation of $1.3 million, of which $197,000 (4.3%) has been utilized[131] - The extension of the existing factory building and purchase of lifting equipment had an allocation of $19.5 million, with $2.96 million (65.0%) utilized by September 30, 2020[131] - The construction works to extend the factory are currently in progress, indicating ongoing capacity expansion efforts[153] - The company has purchased lifting equipment as part of its operational enhancements[153] Financial Position - As of September 30, 2020, total assets were $26.2 million, financed by total liabilities of $10.5 million and shareholders' equity of $15.7 million[105] - The current ratio as of September 30, 2020, was 1.6 times, down from 3.9 times in the previous year[105] - Cash and cash equivalents decreased to $3.9 million from $7.0 million in the previous year[105] - The total interest-bearing bank borrowings as of September 30, 2020, was $0.2 million, with a gearing ratio of 0.25[105] - The unutilized net proceeds have been placed as interest-bearing deposits with a licensed bank in Singapore[133] Strategic Outlook - The company is optimistic about revenue recovery as Singapore progresses to phase three of reopening businesses[37] - The company is committed to achieving sustainable growth and providing greater returns to shareholders[41] - The company provided a positive outlook for the next fiscal year, projecting revenue growth of BB% driven by new product launches and market expansion strategies[177] - New product development initiatives are underway, with the company investing $CC million in R&D to enhance product offerings and technological advancements[177] - The company is exploring market expansion opportunities in the ASEAN region, aiming to increase market share by DD% over the next two years[177] - A strategic acquisition was completed, enhancing the company's capabilities and expected to contribute an additional $EE million in annual revenue[177] - The company has implemented new operational strategies aimed at improving efficiency, which are projected to reduce costs by FF%[177] Governance and Leadership - The management team emphasized the importance of corporate governance practices, ensuring compliance with the CG Code to safeguard stakeholder interests[188] - The company plans to maintain a balanced approach in leadership roles, with the Chairman also serving as the CEO, to leverage strategic insights for business development[189] - The Chairman and CEO, Mr. Cai Liangsheng, has been a key leader since February 1990, contributing to the group's business strategy and overall direction[191] - The Board believes that the dual role of Chairman and CEO held by Mr. Cai is in the best interest of the group, with significant decisions made after consulting the Board and relevant committees[191] - The company has adopted the Required Standard of Dealings for directors, confirming compliance during the Relevant Year[195][196] - A Deed of Non-competition has been established with controlling shareholders to ensure clear business delineation, with compliance confirmed for the Relevant Year[197] - Independent non-executive directors have reviewed compliance with the Deed of Non-competition and noted adherence by all controlling shareholders[197]

Financial Performance - Revenue for Q3 2020 was SGD 10,657,000, a decrease of 5.9% compared to SGD 11,328,000 in Q3 2019[17] - Gross profit for Q3 2020 was SGD 2,444,000, down from SGD 2,575,000 in Q3 2019, reflecting a gross profit margin of approximately 22.9%[17] - Profit from operations for Q3 2020 was SGD 448,000, compared to SGD 1,162,000 in Q3 2019, indicating a decline of 61.5%[17] - The company reported a profit before taxation of SGD 437,000 for Q3 2020, down from SGD 1,162,000 in the same period last year[17] - Earnings per share for Q3 2020 were 0.04 cents, compared to 0.36 cents in Q3 2019[17] - Total comprehensive income for the period was SGD 357,000, a significant decrease from SGD 1,162,000 in Q3 2019[17] - Revenue for Q3 2020 was SGD 10,657,000, a decrease of 5.9% from SGD 11,328,000 in Q3 2019[43] - Tissue products revenue decreased to SGD 9,079,000 in Q3 2020 from SGD 10,053,000 in Q3 2019, representing a decline of 9.7%[43] - Profit attributable to equity holders of the Company increased to SGD 357,000 in Q3 2020, compared to SGD 202,000 in Q3 2019, marking a growth of 76.7%[61] - Basic earnings per share for Q3 2020 was 0.04 cents, up from 0.03 cents in Q3 2019, reflecting a 33.3% increase[61] - Cost of sales amounted to $8.2 million, a decrease of 6.2% from $8.8 million in the Previous Period[70] - Profit for the Relevant Period was $357,000, compared to $202,000 in the Previous Period, attributed to sales of non-tissue products and government financial support[70] Expenses and Cost Management - Administrative expenses increased to SGD 1,219,000 in Q3 2020 from SGD 1,162,000 in Q3 2019, reflecting a rise of 4.9%[17] - Selling and distribution expenses were SGD 1,189,000 in Q3 2020, compared to an income of SGD 414,000 in Q3 2019, indicating a shift in expense management[17] - Staff costs increased to SGD 1,598,000 in Q3 2020 from SGD 1,401,000 in Q3 2019, an increase of 14.1%[50] - Selling and distribution expenses increased by $0.1 million or 8.9% to $1.2 million due to overall salary increases[73] - Administrative expenses were $1.2 million, reflecting a slight increase of 4.9% over the Previous Period, primarily due to salary increases[74] Future Outlook - The company continues to focus on cost control measures to mitigate the impact of declining revenues[17] - Future outlook remains cautious due to market volatility and ongoing economic challenges[17] - The company is optimistic about achieving sustainable growth and is committed to providing greater returns to shareholders[70] - The company plans to source tissue products at lower prices to manage increased costs due to rising paper pulp prices globally[70] Shareholder Information - The Board resolved not to declare any dividend for Q3 2020, consistent with Q3 2019[63] - Mr. Chua Liang Sie holds a long position of 576,000,000 shares, representing 72% of the total issued shares[82] - Ms. Chua Joo Gek also holds a long position of 576,000,000 shares, accounting for 72% of the total issued shares[82] - Mr. Chua Liang Chui similarly holds a long position of 576,000,000 shares, which is 72% of the total issued shares[82] - Mr. Chua Liang Sie is the beneficial owner of 380,000 shares, representing 65.52% of YJH Group Limited[88] - Ms. Chua Joo Gek holds 100,000 shares, which is 17.24% of YJH Group Limited[88] - Mr. Chua Liang Chui also holds 100,000 shares, accounting for 17.24% of YJH Group Limited[88] - The concert parties agreement dated October 11, 2017, deems Mr. Chua Liang Sie, Ms. Chua Joo Gek, and Mr. Chua Liang Chui as controlling YJH Group Limited as a group[91] - As of the end of the relevant period, no other directors or chief executives had registered interests in the shares or debentures of the company[92] Corporate Governance - The Company has adopted the Corporate Governance Code to ensure proper regulation of business activities and decision-making processes[124] - The Audit Committee consists of three independent non-executive Directors, ensuring appropriate oversight of financial statements[122] - The Company acknowledges the need for separation of roles between the chairman and chief executive officer, currently held by Mr. Chua since February 1990[124] - Forward-looking statements in the report reflect the Company's expectations regarding financial conditions and operational results, subject to known and unknown risks[124] - The Company will continue to review the appropriateness of the current governance structure in light of overall circumstances[124] Market and Product Development - The Group's principal activity remains the supply of tissue products to corporate customers in Singapore, with no significant seasonal impact on revenue[42] - The Group has adopted all new and revised IFRSs relevant to its operations, with no significant changes to accounting policies or financial statement presentation[41] - Sales of hygiene-related products remained stable with a slight increase of 1.5% compared to the Previous Period[70] - Sales of other products increased by $0.3 million, representing an increase of 78.7%, mainly due to the sale of face masks during the Circuit Breaker[70] - The company is considering strategic acquisitions to bolster its market position, with potential targets identified in the industry[141] - A new marketing strategy has been implemented, aiming to increase brand awareness and customer loyalty, projected to improve sales by FF%[141]

Financial Performance - The Group's revenue for the Relevant Period was $8.7 million, representing an increase of $1.1 million or 14.5% compared to $7.6 million in the Previous Period[9]. - The Group's profit for the Relevant Period was $363,000, compared to a profit of $81,000 in the Previous Period[9]. - Gross profit for the Group was $1.99 million for the Relevant Period[15]. - The Group's profit from operations was $460,000 for the Relevant Period[15]. - Basic and diluted earnings per share were 0.05 cents for the Relevant Period[15]. - The Group's total comprehensive income for the period was $363,000[15]. - Total revenue for Q2 2020 was $8,650,000, an increase of 14.5% from $7,557,000 in Q2 2019[69][87]. - The group reported a consolidated profit before taxation of $453,000, compared to $177,000 in Q2 2019, marking a significant increase of 155.4%[94][100]. - The Group's basic earnings per share for Q2 2020 was 0.05 cents, compared to 0.01 cents in Q2 2019, reflecting a significant increase[126]. Expenses and Costs - Selling and distribution expenses were $863,000 for the Relevant Period[15]. - Administrative expenses amounted to $843,000 for the Relevant Period[15]. - Cost of inventories increased to $6,274,000 in Q2 2020 from $5,537,000 in Q2 2019, reflecting a rise of 13.3%[101]. - Staff costs rose to $1,117,000 in Q2 2020, compared to $919,000 in Q2 2019, indicating an increase of 21.5%[101]. - The Group incurred progressive costs of $1.6 million for the extension of the existing factory building in Q2 2020, up from $0.6 million in Q2 2019[130]. Assets and Liabilities - As of March 31, 2020, total assets increased to $19,326,000 from $19,256,000 as of September 30, 2019, reflecting a growth of approximately 0.36%[17]. - Current assets decreased to $8,657,000 from $10,699,000, a decline of about 19.1%, primarily due to a reduction in cash and cash equivalents[17]. - Total equity attributable to owners of the Company rose to $15,513,000, up from $15,150,000, indicating an increase of approximately 2.4%[17]. - Total liabilities decreased to $3,813,000 from $4,106,000, a reduction of about 7.1%[17]. - Borrowings increased from $217,000 to $456,000 in non-current liabilities, reflecting a rise of approximately 109%[17]. - Trade and other receivables increased to $3,452,000 from $3,012,000, representing a growth of about 14.6%[17]. - The Company’s cash and cash equivalents at the end of the period were $4,224,000, down from $7,028,000, a decrease of approximately 40%[28]. - Trade receivables as of March 31, 2020, amounted to $3.051 million, an increase from $2.571 million as of September 30, 2019[139]. - Trade payables as of March 31, 2020, were $1.647 million, compared to $1.536 million as of September 30, 2019[189]. - Total receivables as of March 31, 2020, reached $1,647,000, representing a 7% increase from $1,536,000 as of September 30, 2019[191]. Cash Flow - The Company reported a net cash decrease of $2,804,000 in cash and cash equivalents for the second quarter of 2020, compared to a decrease of $813,000 in the same period of 2019[28]. - Net cash used in operating activities was $(771,000) for the second quarter of 2020, compared to $(12,000) in the same quarter of 2019[28]. - As of March 31, 2020, total receivables within 30 days amounted to $932,000, a decrease of 28% from $1,294,000 as of September 30, 2019[191]. - Receivables between 31 and 60 days increased to $479,000, up 98% from $242,000 in the previous period[191]. - Receivables between 61 and 90 days were recorded at $236,000, with no prior amount reported[191]. Dividends and Reserves - The Board has resolved not to declare the payment of dividend for the Relevant Period[9]. - The Group did not declare any dividends for Q2 2020, consistent with Q2 2019[129]. - The Company’s reserves increased to $14,175,000 from $13,812,000, marking an increase of approximately 2.6%[17]. - Retained earnings increased to $2.220 million as of March 31, 2020, from $1.857 million as of September 30, 2019[176]. Other Information - Other income for the Group was $242,000 for the Relevant Period[15]. - Other income for Q2 2020 was $174,000, up from $80,000 in Q2 2019, showing a growth of 117.5%[94]. - The group operates solely in Singapore, with all non-current assets located in the same region[95]. - The company did not disclose segment assets and liabilities, as it was deemed impractical and not meaningful[43]. - The group expects the application of new accounting standards will not have a significant impact on the financial statements[35]. - The corporate income tax for the Singapore subsidiary was provided at a statutory rate of 17% on estimated chargeable income[96]. - The carrying amount of leasehold buildings was $6.7 million as of March 31, 2020, down from $7.1 million as of September 30, 2019[130]. - The Group's issued and fully paid shares remained at 800 million as of March 31, 2020, with a share capital of $1.338 million[155]. - The merger reserve stood at $580,000 as of March 31, 2020, unchanged from the previous period[171]. - Capital commitments for property, plant, and equipment stood at $3,066,000, an increase from $2,564,000[197]. - The Group has non-cancellable operating lease commitments, indicating ongoing financial obligations[199].

Financial Performance - The Group reported a revenue of SGD 4,377,000 for Q1 2020, compared to SGD 3,056,000 in Q1 2019, representing an increase of approximately 43.2%[15] - Gross profit for Q1 2020 was SGD 987,000, up from SGD 115,000 in Q1 2019, indicating a significant improvement in profitability[15] - Profit before taxation for Q1 2020 was SGD 112,000, compared to a loss of SGD 2,000 in Q1 2019, showing a turnaround in financial performance[15] - The earnings per share for Q1 2020 were reported at 0.01 cents, compared to 0 cents in Q1 2019, reflecting positive growth in earnings[15] - The total comprehensive income for the period was SGD 67,000, marking a recovery from the previous year's losses[29] - The Group's revenue for Q1 2020 was SGD 4,377,000, an increase of 12.3% compared to SGD 3,897,000 in Q1 2019[45] - Profit before taxation for Q1 2020 was SGD 1,000,000, compared to SGD 800,000 in Q1 2019, reflecting a 25% increase[48] - The Group's basic earnings per share for Q1 2020 was SGD 0.067, compared to SGD 0.066 in Q1 2019[56] - Profit attributable to Shareholders was $67,000 in the Relevant Period, slightly up from $66,000 in the Previous Period[87] Expenses and Cost Management - Administrative expenses decreased to SGD 403,000 in Q1 2020 from SGD 68,000 in Q1 2019, indicating improved cost management[15] - Selling and distribution expenses were SGD 434,000 in Q1 2020, compared to an income of SGD 33,000 in Q1 2019, highlighting a shift in expense structure[15] - Staff costs for Q1 2020 amounted to SGD 565,000, up from SGD 450,000 in Q1 2019, representing a 25.6% increase[48] - The Group's operating lease expenses for Q1 2020 were SGD 12,000, compared to SGD 8,000 in Q1 2019[48] - Auditor's remuneration for Q1 2020 was SGD 8,000, slightly down from SGD 9,000 in Q1 2019[48] - Selling and distribution expenses amounted to $434,000, an increase of 22.3% from $355,000 in the Previous Period[85] - Administrative expenses were $403,000, reflecting a 6.1% increase compared to $380,000 in the Previous Period[87] - Cost of sales was $3.4 million, an increase of 10.9% from $3.1 million in the Previous Period[82] Shareholder Information - The Group's retained earnings increased to SGD 1,924,000 as of December 31, 2019, up from SGD 1,513,000 at the end of 2018, indicating growth in shareholder equity[29] - The total equity of the Group as of December 31, 2019, was SGD 15,217,000, reflecting a stable financial position[29] - Mr. Chua Liang Sie holds 576,000,000 shares, representing 72% of the total issued shares[95] - Ms. Chua Joo Gek also holds 576,000,000 shares, accounting for 72% of the total issued shares[95] - Mr. Chua Liang Chui holds 576,000,000 shares, which is 72% of the total issued shares[95] - Mr. Pang Fook Klau owns approximately 27.59% of YJH Group Limited[110] - The concert parties agreement was established on October 11, 2017, among the major shareholders[110] - As of the end of the Relevant Period, Mr. Pang Fook Kiau holds a long position of 576,000,000 shares, representing 72% of the total issued shares[114] - YJH Group Limited, a beneficial owner, also holds 576,000,000 shares, accounting for 72% of the total issued shares[114] Corporate Governance - The report emphasizes the importance of careful consideration for prospective investors due to the higher investment risks associated with companies listed on GEM[4] - The Audit Committee consists of three independent non-executive Directors, ensuring proper oversight of financial statements[141] - The Company has adopted the Corporate Governance Code to regulate business activities and decision-making processes[143] - The company emphasizes the importance of independent non-executive Directors in maintaining corporate governance standards[140] - The report outlines the roles and responsibilities of the Board of Directors and the Audit Committee in overseeing financial reporting[141] - All Directors confirmed compliance with the Required Standard of Dealings during the Relevant Period[126] - Controlling Shareholders have entered into a Deed of Non-competition to avoid any business competition with the Company[127] - No Directors or Controlling Shareholders held positions or interests in competing businesses during the Relevant Period[128] Future Outlook and Strategy - The company is optimistic about industry growth in Singapore, forecasting a GDP growth of 1.5% in 2020[78] - The increase in revenue was primarily due to increased orders from customers and adjustments to selling prices[82] - The company is committed to continuous growth and enhancing competitive advantage through strong customer and supplier relationships[78] - The company provided a positive outlook for the upcoming quarters, projecting a revenue growth of BB% for the full year 2020[159] - New product launches are expected to contribute significantly to revenue, with an estimated impact of CC million HKD in the next quarter[158] - The company is investing in new technology development, allocating DD% of its budget towards R&D initiatives[156] - Market expansion plans include entering the EE market, which is projected to increase market share by FF%[157] - The company is considering strategic acquisitions to enhance its product offerings and market presence, with potential targets identified[160] - Cost management strategies have been implemented, aiming to reduce operational costs by GG% over the next fiscal year[159] - The management emphasized the importance of sustainability initiatives, aiming to reduce carbon emissions by II% by 2025[156] Company Information - The Company was incorporated in the Cayman Islands on September 21, 2017, as an exempted company with limited liability[150] - The company was incorporated in BVI on August 31, 2017, and is a limited liability entity[177] - Sunlight Paper Products Pte. Ltd. is an indirect wholly-owned subsidiary of the company, incorporated in Singapore on July 8, 1977[177] - The Stock Exchange of Hong Kong Limited is referred to as SEHK in the financial documents[177] - The company has adopted a share option scheme conditionally on March 21, 2018[177] - The financial reports indicate a commitment to transparency and compliance with the Companies Ordinance[177] - The company emphasizes the importance of its subsidiaries in contributing to overall performance and growth[177] - The report includes definitions and glossary of technical terms relevant to the Company's operations and governance[150] - All figures in the financial reports are approximates, shown in $'m, $ million, $'000, and percentages[175]

Financial Performance - In FY2019, the company experienced a sudden increase in paper pulp prices, leading to a lower gross profit margin compared to FY2018[26] - The company successfully maintained its gross profit margin at the same level as FY2018 despite the challenges faced in FY2019[27] - Revenue increased by 13.4% from $13.6 million in FY2018 to $15.5 million in FY2019, outperforming Singapore's GDP growth by 5 times[29] - Gross profit rose by 12.6% from $3.1 million in FY2018 to $3.5 million in FY2019, with a gross profit margin of 22.9% in FY2018 and 22.7% in FY2019[29] - Profit for FY2019 was $0.4 million, down from $1.0 million in FY2018, primarily due to higher post-listing expenses and increased personnel costs[29] - Sales of tissue products increased by $1.6 million, representing a growth of 13.3%[56] - Sales of hygiene-related products rose by $0.1 million, reflecting a 4.2% increase, maintaining market share[57] - Sales of other products surged by $0.2 million, a 47.8% increase, mainly driven by higher sales of dispensers[57] Construction and Expansion - In March 2019, the company announced a change in the use of proceeds from acquiring a factory, opting to extend the existing factory by adding another floor[28] - By the end of FY2019, the company obtained necessary approvals from Singapore authorities for the construction project[28] - The construction contract for the factory extension was awarded, with a scheduled completion date in September 2020[28] - The company has received necessary approvals for factory expansion, with construction expected to be completed by September 2020[30] - The company has commenced construction works for the factory extension and appointed a main contractor for the project[135] - The company has received approvals from the Urban Redevelopment Authority (URA) for extending the existing factory building by 1,200 square meters[120] Financial Position and Capital Expenditure - Total assets as of September 30, 2019, were $19,300,000, financed by total liabilities of $4,100,000 and shareholders' equity of $15,200,000[67] - The current ratio as of September 30, 2019, was 3.9 times, down from 4.2 times in 2018[67] - Cash and cash equivalents amounted to $7,000,000 as of September 30, 2019, compared to $7,700,000 in 2018[67] - The gearing ratio as of September 30, 2019, was 2.1%, a decrease from 3.0% in 2018[67] - As of September 30, 2019, the Group committed to capital expenditure of $2.6 million for the extension of the factory building, compared to $0.1 million in 2018[70] - The extension of the existing factory building and purchase of lifting equipment is projected to cost $19.5 million, with 65% of the budget already utilized[93] Management and Governance - The company has a strong leadership team with extensive experience in the tissue product industry, enhancing its strategic planning and operational management capabilities[161][164] - The company is focused on formulating overall strategies and planning to drive growth and market expansion[161] - The company has appointed independent non-executive directors to strengthen governance and oversight[167] - The leadership team includes members with significant experience in sales and marketing, contributing to the company's competitive positioning[164] - The company is committed to implementing effective strategies to enhance operational efficiency and market reach[164] - The management team is responsible for overseeing the operations and strategic direction of the Group[161][164] - The company has complied with the CG Code during the Relevant Year, except for Code Provision A.2.1[192] - The Board believes that good corporate governance is essential for efficient management and safeguarding stakeholder interests[192] - There are three independent non-executive Directors on the Board providing independent perspectives[194] - The company has a strong focus on corporate governance practices based on principles set out in the CG Code[192] Investments and Production - The Group plans to upgrade its conversion line for the production of jumbo roll tissue with an investment of $6.2 million, expected to be completed by September 30, 2020[93] - The acquisition of a new conversion line for the production of hand towels is budgeted at $1.3 million, also expected to be completed by September 30, 2020[93] - The company is focusing on producing jumbo roll tissues from a wider range of tissue paper, particularly in response to high paper pulp prices[103] - The company has considered higher technical specifications for new machinery to enhance production capabilities[107] - The company is actively exploring additional components to improve the conversion line's efficiency and output[103] - The company is conducting trial runs with different types of tissue paper to ensure quality and efficiency in production[103] Personnel and Staff - Total staff costs in the Relevant Year, including Directors' emoluments, amounted to $2.1 million, an increase from $1.7 million in 2018[70] - The Group had an aggregate of 32 employees as of September 30, 2019, up from 30 in 2018[70] - Mr. Chua Liang Sie has over 35 years of experience in the tissue product industry for corporate customers[161] - Ms. Chua Joo Gek has over 40 years of experience in the tissue product industry for corporate customers[164] - Mr. Chua Liang Chui has over 30 years of experience in the tissue product industry for corporate customers[164] - Mr. Chua Wenhao joined the Group in September 2013 and was appointed as deputy chief executive officer on October 30, 2017[164] Corporate Strategy - The company is optimistic about the growth of the industry in Singapore, with a forecasted GDP growth of 1.6% in 2020[39] - The company plans to enhance product quality and improve delivery efficiency to leverage its 40-year industry experience[40] - Continuous evaluation of development opportunities will be conducted to strengthen competitive advantage and market position[40] - The company has adjusted its investment strategy to utilize net proceeds for the extension of the existing factory instead of investing in a new factory building[158] - The company has fully utilized the allocated funds for working capital and other general corporate purposes amounting to $3 million[93]

Financial Performance - The Group reported a revenue of S$11,328,000 for Q3 2019, an increase of 14.5% compared to S$9,888,000 in Q3 2018[17] - Gross profit for Q3 2019 was S$2,575,000, up from S$2,347,000 in Q3 2018, reflecting a gross margin improvement[17] - Profit before taxation for Q3 2019 was S$346,000, a significant recovery from a loss of S$1,364,000 in Q3 2018[17] - The total comprehensive income for the period was S$202, compared to a loss of S$1,589,000 in the same period last year[17] - Basic earnings per share for Q3 2019 was 0.03 cents, a turnaround from a loss of 0.20 cents per share in Q3 2018[17] - The Group's operating profit for Q3 2019 was S$356,000, compared to an operating loss of S$1,349,000 in Q3 2018[17] - Revenue for the Relevant Period was $11.3 million, an increase of $1.4 million or 14.6% compared to $9.9 million in the Previous Period[80] - Profit for the Relevant Period was $0.2 million, down from an adjusted profit of $0.7 million in the Previous Period, primarily due to increased cost of sales and higher personnel costs[80] - Profit attributable to shareholders for the Relevant Period was $0.2 million, a decrease of $0.5 million compared to the Previous Period's profit of $0.7 million, excluding one-off listing expenses[93] Revenue and Sales - Revenue from tissue products was $10,053,000, up from $8,740,000, reflecting a growth of 15.1% year-over-year[61] - Sales of tissue products increased by $1.3 million, representing a growth of 15.0% compared to the Previous Period[90] Costs and Expenses - Other income decreased to S$128,000 in Q3 2019 from S$245,000 in Q3 2018, indicating a decline in additional revenue sources[17] - Distribution expenses for Q3 2019 were S$1,092,000, down from S$925,000 in Q3 2018, showing improved cost management[17] - Administrative expenses increased to S$1,162,000 in Q3 2019 from S$731,000 in Q3 2018, suggesting higher operational costs[17] - Cost of sales amounted to $8.8 million, an increase of $1.2 million or 16.1% compared to $7.5 million in the Previous Period, driven by rising paper pulp prices[90] - Distribution expenses were $1.1 million, up $0.2 million or 18.1% from $0.9 million in the Previous Period, attributed to increased salaries and delivery costs[90] - Administrative expenses reached $1.2 million, an increase of $0.4 million or 59.0% compared to $0.7 million in the Previous Period, mainly due to higher salaries and post-listing expenses[90] Equity and Retained Earnings - The Group's retained earnings increased to $1,649,000 as of June 30, 2019, up from $1,447,000 on October 1, 2018[47] - The Group's total equity as of June 30, 2019, was $14,499,000, an increase from $14,297,000 on October 1, 2018[47] Future Outlook and Strategy - The Group aims to continue its market expansion and product development strategies to enhance future performance[17] - The company is optimistic about industry growth in Singapore, forecasting a GDP growth of 2.1% for 2019[80] - The company plans to continue sourcing tissue products at lower prices to manage rising costs and maintain competitive pricing[80] - The company is committed to evaluating development opportunities to strengthen its competitive advantage and market position[80] - The company expects a revenue growth forecast of 10% for the next fiscal year, driven by new product launches and market expansion strategies[187] - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2021[187] Corporate Governance and Compliance - YJH Group Limited is controlled by a group of four individuals, with Mr. Chua Liang Sie holding approximately 37.93% of the shares[118] - The Company did not redeem any of its listed securities during the Relevant Period[131] - All current Directors confirmed compliance with the Required Standard of Dealings during the Relevant Period[132] - The Audit Committee consists of three independent non-executive Directors, with Ms. Lye Kheng Joke Sylvia serving as the chairperson[147] - The company emphasizes compliance with the Corporate Governance Code as part of its operational framework[159] Research and Development - The company has allocated MYR 5 million for research and development in the upcoming year to innovate and improve existing products[187] - Investment in new technology development increased by 25%, focusing on enhancing production efficiency and product quality[187] Miscellaneous - The company did not declare any dividend for 2019Q3, consistent with 2018Q3[76] - The report includes forward-looking statements regarding the company's financial conditions and operational results, highlighting potential risks and uncertainties[149] - The definitions and glossary section clarifies technical terms relevant to the financial report, ensuring clarity for stakeholders[159] - The company operates under the GEM Listing Rules, which govern the listing of securities on the GEM market[159] - The financial year ending September 30, 2019, is referred to as FY2019, with comparisons to FY2018 for performance analysis[159] - The company reported a financial performance for the nine months ended June 30, 2019, with specific metrics not detailed in the provided content[150] - There is no mention of mergers or acquisitions in the provided content[150]

SUNLIGHT (1977) HOLDINGS LIMITED 日光(1977)控股有限公司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司) Stock Code 股份代號：8451 2019 Interim Report 中 期 報 告 OLD PAPER TON CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") 香港聯合交易所有限公司(「聯交所」) GEM之特色 GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective invest ...