Financial Performance - Revenue for the nine months ended September 30, 2021, was SGD 58,001,000, representing a 64.7% increase from SGD 35,192,000 in the same period of 2020[3] - Gross profit for the nine months ended September 30, 2021, was SGD 5,575,000, up 29.3% from SGD 4,312,000 in the previous year[3] - Operating profit for the nine months ended September 30, 2021, increased to SGD 1,218,000, a 63.2% rise compared to SGD 746,000 in 2020[3] - Net profit for the nine months ended September 30, 2021, was SGD 860,000, which is a 42.8% increase from SGD 602,000 in the same period of 2020[3] - Basic and diluted earnings per share for the nine months ended September 30, 2021, were SGD 0.14, compared to SGD 0.10 in the previous year, reflecting a 40% increase[5] - Total comprehensive income for the nine months ended September 30, 2021, was SGD 810,000, up from SGD 591,000 in the same period of 2020, marking a 37.1% increase[5] - The group's profit before tax for the nine months ended September 30, 2021, was SGD 860,000, compared to SGD 602,000 for the same period in 2020, representing a 42.7% increase[33] - Profit for the nine months ended September 30, 2021, was approximately SGD 0.9 million, an increase of about SGD 0.3 million or 50.0% compared to SGD 0.6 million for the same period in 2020[52] Revenue Breakdown - For the nine months ended September 30, 2021, revenue from human resource outsourcing services was SGD 57,390,000, an increase of 65.2% compared to SGD 34,699,000 for the same period in 2020[23] - Revenue from human resource recruitment services reached SGD 579,000, up 19.9% from SGD 483,000 in the previous year[23] - Total revenue and other income for the nine months ended September 30, 2021, was SGD 58,001,000, compared to SGD 35,192,000 for the same period in 2020, reflecting a growth of 64.7%[23] - Major clients contributed significantly to revenue, with Client A generating SGD 10,583,000 and Client B generating SGD 11,010,000 for the nine months ended September 30, 2021[21] Costs and Expenses - Total employee costs for the nine months ended September 30, 2021, amounted to SGD 55,498,000, up from SGD 33,864,000 in 2020, reflecting a 63.9% increase[5] - Service costs increased by approximately SGD 21.5 million or 69.6% to about SGD 52.4 million for the nine months ended September 30, 2021, compared to SGD 30.9 million for the same period in 2020[46] - The income tax expense for the nine months ended September 30, 2021, was SGD 306,000, significantly higher than SGD 125,000 in 2020, marking a 144.8% increase[30] - The total depreciation for property, plant, and equipment for the nine months ended September 30, 2021, was SGD 205,000, compared to SGD 164,000 in 2020, representing a 25.0% increase[5] Financial Position - As of September 30, 2021, total equity increased to SGD 16,674,000 from SGD 15,604,000 at the beginning of the year, indicating a growth of 6.8%[7] - The company had cash and bank balances of approximately SGD 13.6 million as of September 30, 2021, down from SGD 19.3 million as of December 31, 2020[55] - The company has no interest-bearing debt, making the debt-to-asset ratio not applicable[54] - The group pledged fixed deposits of approximately SGD 60,000 as of September 30, 2021, down from SGD 80,000 in 2020[62] - There were no significant contingent liabilities or guarantees as of September 30, 2021[63] Governance and Compliance - The board confirmed that the financial information presented is accurate and complete, with no misleading elements or omissions[2] - The financial statements have been prepared in accordance with International Financial Reporting Standards, with no significant impact from the adoption of revised standards during the reporting period[17] - The company has adopted the corporate governance code as per GEM listing rules and has complied with it during the reporting period[79] - The audit committee was established on June 21, 2017, in compliance with GEM listing rules, and consists of three independent non-executive directors[86] - The audit committee reviewed the unaudited condensed consolidated financial statements for the nine months ended September 30, 2021, and confirmed compliance with applicable accounting standards and GEM listing rules[86] Strategic Initiatives - The company continues to focus on expanding its human resource outsourcing and recruitment services, aiming for further market penetration[10] - The company recognized approximately SGD 45,000 in government subsidies related to the COVID-19 Employment Support Scheme during the reporting period[27] - The company has established a non-binding memorandum of understanding with Zhong An Holdings Group (Shenzhen) Co., Ltd. to explore potential business cooperation and expand revenue sources[42] Employee Information - The number of full-time employees increased from 59 to 65 as of September 30, 2021[57] - The management's remuneration for the nine months ended September 30, 2021, was SGD 629,000, down from SGD 720,000 in 2020, reflecting a decrease of 12.6%[38] Other Information - There were no significant events occurring after the reporting period[39] - There were no purchases, sales, or redemptions of the company's listed securities during the nine months ended September 30, 2021[83] - The company adopted a share option scheme on June 21, 2017, allowing for the issuance of up to 60,000,000 shares, representing 10% of the issued shares[84] - No share options have been granted since the adoption of the scheme, and there were no unexercised options as of September 30, 2021[84] - The company’s main operating location is in Hong Kong, specifically at 26/F, Wing Hing Commercial Building, 139 Wing Lok Street, Sheung Wan[91] - The company’s stock code is 8462 on the Hong Kong Stock Exchange[91]
中安控股集团(08462) - 2021 Q3 - 季度财报