Revenue and Profitability - Revenue for the three months ended August 31, 2019, was SGD 3,726,835, an increase from SGD 3,577,073 in the same period of 2018, representing a growth of approximately 4.2%[20] - Gross profit for the same period was SGD 1,504,935, down from SGD 1,756,496 in 2018, indicating a decline of about 14.3%[20] - The company reported a loss before tax of SGD 368,621 compared to a profit of SGD 442,314 in the previous year, reflecting a significant downturn in profitability[20] - Total comprehensive loss for the period amounted to S$396,641, with a loss attributable to equity holders of the company of S$113,731[23] - Basic and diluted earnings per share were both reported at (S$0.03), down from S$0.11 in the previous year[23] - The company reported a net loss before tax of SGD (368,621) for the three months ended August 31, 2019, compared to a profit of SGD 442,314 in 2018[72] Revenue Breakdown - Revenue increased by S$436,717 due to significant growth in myBill and SpaceMonster, while Simplicity and Starlight revenues decreased by S$231,567 and S$55,488 respectively, attributed to project implementation delays[21] - Revenue from external customers for Simplicity and MyBill.sg was SGD 2,935,240 in 2019, compared to SGD 2,763,912 in 2018, representing an increase of approximately 6.2%[63] - The reported segment profit for Simplicity and MyBill.sg was SGD 915,032 in 2019, down from SGD 1,319,079 in 2018, indicating a decline of about 30.7%[65] - Total revenue for Starlight was SGD 741,085 in 2019, a decrease from SGD 796,473 in 2018, reflecting a decline of approximately 6.9%[63] - Total revenue from the Simplicity software solution was 2,524,248 Singapore dollars, representing a decline of 8.4% compared to 2,755,815 Singapore dollars in the previous year[87] - The revenue from Simplicity maintenance services increased by 36.9%, although overall Simplicity revenue slightly decreased due to a reduction in project revenue[88] - The myBill platform generated total revenue of 410,992 Singapore dollars, with subscription revenue contributing 383,992 Singapore dollars since its launch in June 2018[95] - SpaceMonster revenue grew significantly by 202.7% year-over-year, reaching 50,510 Singapore dollars, with a healthy gross margin of 89.9%[98] Expenses and Costs - Employee costs, including directors' remuneration, increased to SGD 2,499,480 in 2019 from SGD 1,923,048 in 2018, marking an increase of approximately 30%[72] - The company recognized share-based payment expenses of SGD 8,547 in 2019, down from SGD 23,246 in 2018, a decrease of about 63.3%[72] - The depreciation and amortization expense for the company was SGD 311,967 in 2019, compared to SGD 252,034 in 2018, an increase of approximately 23.7%[63] - Administrative expenses increased by S$373,386, primarily due to operations in the joint venture in China[112] - Starlight's sales cost increased by 68.1%, primarily due to third-party contractor costs and employee compensation[106] Strategic Focus and Future Outlook - The company is actively seeking opportunities in energy management, indicating a strategic focus on this sector[21] - The group recognizes revenue from contracts for enterprise application software solutions and energy management solutions based on fixed contract prices, with invoices typically issued within 90 days[46] - The order book for Simplicity is reported to be stronger than last year, suggesting potential for future revenue growth[21] - The sales channels for Starlight remain healthy, with expectations for improved performance in the future[21] - The company remains optimistic about long-term growth, particularly in the Singapore enterprise application software and building energy management systems market[101] - Tesseract, a revolutionary IoT device for the smart energy market, is expected to be a key growth driver for the Starlight business unit[101] Joint Ventures and Market Expansion - The group's core business in Singapore reported a tax-adjusted net profit of S$53,511, offset by a loss of S$422,132 from the Chinese joint venture[21] - The company’s joint venture in China contributed 2.8% to the quarterly revenue, indicating market expansion efforts[88] - The pre-tax net loss from the company's joint venture in China was S$422,132, impacting overall profitability[115] Shareholder Information and Corporate Governance - The company’s issued and paid-up ordinary shares remained at 399,158,496 as of August 31, 2019[80] - As of August 31, 2019, the company had a total of 399,158,496 issued shares, with key shareholders holding significant stakes: iGlobe Platinum Fund Limited at 20.62%, Huang Yanyan at 12.66%, and BAF Spectrum Pte. Ltd. at 9.91%[125] - The company granted stock options under the pre-IPO stock option plan, with a total of 31,179,876 shares allocated to 11 grantees, including two directors and four senior management personnel[131] - The company has adopted a code of conduct for directors' securities trading, ensuring compliance with the relevant regulations from the Growth Enterprise Market Listing Rules[134] - The audit committee, established on November 24, 2016, consists of three independent non-executive directors and is responsible for overseeing financial reporting and risk management[144] Dividends and Share Buybacks - The company did not declare a dividend for the three months ending August 31, 2019, compared to S$0 for the same period in 2018[22] - The company did not declare any interim dividends for the three months ending August 31, 2019, consistent with the previous year[142] - No share buybacks, sales, or redemptions of listed securities occurred during the reporting period[139]
安科系统(08353) - 2020 Q1 - 季度财报