Financial Performance - Revenue for the nine months ended February 28, 2018, was reported at SGD 10,340,150, an increase from SGD 9,932,863 in the previous year, reflecting a growth of approximately 4.1%[18] - Gross profit decreased to SGD 4,351,428 from SGD 5,643,423, indicating a decline of about 22.9%[18][19] - Profit before tax improved to SGD 286,544 compared to a loss of SGD 635,663 in the previous year, marking a significant turnaround[18] - Revenue for the three months ended February 28, 2018, was SGD 4.998 million, down 7.2% from SGD 5.383 million in the same period of 2017[24] - Gross profit decreased to SGD 1.713 million for the three months ended February 28, 2018, compared to SGD 3.068 million in the same period of 2017, reflecting a decline of 44.2%[24] - Total comprehensive income for the three months ended February 28, 2018, was SGD 212.432 million, a decrease of 82.8% from SGD 1.239 million in the same period of 2017[24] - The company reported a net loss attributable to owners of the company of SGD 0.639 million for the nine months ended February 28, 2018, compared to a profit of SGD 0.137 million in the same period of 2017[24] - The profit before tax for the reporting segments was 3,109,901 SGD in 2018, compared to 4,633,825 SGD in 2017, reflecting a decline of approximately 32.8%[39] Revenue Sources - The company attributed revenue growth to the successful completion of two new major products[18] - The primary revenue source, Simplicity, experienced a reduction, contributing to the decline in gross profit[19] - Revenue from Singapore was 9,989,900 SGD in the nine months ended February 28, 2018, compared to 9,487,853 SGD in the same period of 2017, showing an increase of about 5.3%[40] - Total revenue for SIMPLICITY decreased by 21.9% to SGD 5,977,490 compared to SGD 7,649,571 in the same period of 2017[55] - Total revenue for STARLIGHT increased by 91.0% to SGD 4,358,670, with project revenue rising by 88.2% to SGD 4,152,349[59] - SPACEMONSTER revenue surged by 2,394% to SGD 3,990 for the nine months ended February 28, 2018, compared to SGD 160 in the same period of 2017[62] Future Outlook and Strategy - The company is focused on expanding its product offerings and enhancing its market presence through new technology developments[18] - Future outlook includes continued investment in product innovation and market expansion strategies[18] - The company plans to launch new products TESSERACT and Mybill in the next fiscal year, following significant investments in sales and marketing activities[21] - The company is set to launch Mybill, a cloud-based platform for energy retailers, in June 2018, aimed at automating monthly billing for approximately 1.3 million competitive consumer households in Singapore[66] - TESSERACT, a revolutionary smart meter IoT device, is in prototype design and is expected to launch in June 2018, introducing cost-effective edge computing capabilities to the energy market[68] - The next phase of SpaceMonster's growth includes nationwide marketing efforts and potential international market expansion[70] Expenses and Costs - The company incurred a depreciation expense of 130,594 SGD for property, plant, and equipment in the nine months ended February 28, 2018, down from 206,212 SGD in 2017, reflecting a decrease of about 36.7%[47] - The company’s total expenses for the nine months ended February 28, 2018, were 4,738,354 SGD, compared to 4,254,676 SGD in 2017, indicating an increase of approximately 11.4%[47] - Employee costs, including directors' remuneration, totaled 5,989,856 SGD for the nine months ended February 28, 2018, compared to 4,968,798 SGD in 2017, representing an increase of approximately 20.5%[47] - Administrative expenses increased to SGD 1.023 million for the three months ended February 28, 2018, compared to SGD 0.926 million in the same period of 2017, reflecting an increase of 10.5%[24] - Marketing and other operating expenses increased due to the addition of 4 sales and marketing team members and participation in various marketing events[84] Shareholder Information - As of February 28, 2018, Liu Yi Jun holds 45,500,000 shares, representing approximately 12.64% of the company's issued share capital[91] - Wang Rui Xing owns 22,750,000 shares, accounting for about 6.94% of the total issued share capital[91] - iGlobe Platinum Fund Limited holds 82,326,335 shares, which is approximately 20.62% of the company's issued share capital[98] - BAF Spectrum Pte. Ltd. possesses 39,565,162 shares, representing about 9.91% of the total issued share capital[98] - Majuven Fund 1 Ltd. has 36,528,219 shares, equating to approximately 9.15% of the company's issued share capital[98] - Liu Yi Jun's spouse, Huang Yan Yan, is deemed to have an interest in 50,469,783 shares, which is about 12.64% of the total issued share capital[98] - The total number of issued shares as of February 28, 2018, is 399,158,496[92] - The share options granted to directors under the pre-IPO share option plan include 4,969,783 shares for both Liu Yi Jun and Wang Rui Xing, each representing approximately 1.25% of the company's issued share capital[94] - OWW Investments III Limited holds 20,873,307 shares, which is about 5.23% of the total issued share capital[98] - M1 TeliNet Pte. Ltd. and M1 Limited each own 20,259,000 shares, representing approximately 5.08% of the company's issued share capital[98] Governance and Compliance - The company is committed to maintaining transparency and accuracy in its financial reporting as per GEM listing rules[2] - The audit committee, established on November 24, 2016, consists of two independent non-executive directors and one non-executive director, responsible for reviewing financial statements and overseeing risk management[117] - No dividends were declared for the nine months ending February 28, 2018, compared to zero Singapore dollars for the same period in 2017[113]
安科系统(08353) - 2020 Q3 - 季度财报