Financial Performance - For the three months ended September 30, 2020, the company reported revenue of SGD 593,085, a decrease of 72% compared to SGD 2,132,831 in the same period of 2019[4] - The cost of sales for the three months ended September 30, 2020, was SGD (938,419), resulting in a gross loss of SGD (345,334) compared to a gross profit of SGD 292,640 in 2019[4] - The company incurred a loss before tax of SGD (1,763,327) for the three months ended September 30, 2020, compared to a loss of SGD (325,043) in the same period of 2019[4] - The total comprehensive loss attributable to owners of the company for the three months ended September 30, 2020, was SGD (1,508,929), compared to SGD (326,292) in 2019[4] - For the nine months ended September 30, 2020, the company reported total revenue of SGD 3,218,120, down 48% from SGD 6,260,839 in the same period of 2019[4] - The company reported a net loss of SGD 1,537,927 for the three months ended September 30, 2020, compared to a loss of SGD 300,711 in 2019, indicating a 411.5% increase in losses[19] - Basic and diluted loss per share for the nine months ended September 30, 2020, was SGD 0.227, compared to SGD 0.051 in 2019, reflecting a 345.1% increase in losses per share[19] - The gross profit for the same period was approximately SGD 61,000, resulting in a gross margin of about 1.9%, down from 27.1% in 2019[27] - The company incurred a loss of approximately SGD 2,902,000 for the nine months ended September 30, 2020, compared to a loss of SGD 648,000 in 2019[29] Costs and Expenses - The company’s financing costs increased to SGD (10,943) for the three months ended September 30, 2020, compared to SGD (5,781) in 2019[4] - Total financing costs for the nine months ended September 30, 2020, were SGD 47,844, up from SGD 20,407 in 2019, representing a 134.0% increase[16] - Sales and administrative expenses increased by SGD 862,000 or 35.3% to approximately SGD 3,301,000, primarily due to increased share-based payments, advertising expenses, and legal and professional fees[29] - Total employee costs, including director remuneration, were approximately SGD 2,567,000 for the nine months ended September 30, 2020, compared to SGD 2,356,000 in 2019[33] Income and Other Revenue - The company reported other income of SGD 180,548 for the three months ended September 30, 2020, compared to SGD 56,056 in the same period of 2019[4] - Interest income for the three months ended September 30, 2020, was SGD 72,628, up from SGD 47,291 in 2019, representing a 53.5% increase[14] - Government grants received for the nine months ended September 30, 2020, totaled SGD 311,516, significantly higher than SGD 20,167 in 2019, marking a 1443.5% increase[14] - The company’s total other income for the nine months ended September 30, 2020, was SGD 491,041, a significant increase from SGD 145,600 in 2019, representing a 236.5% increase[14] Shareholder Information - As of September 30, 2020, Absolute Truth Investments Limited holds 39,337,600 shares, representing 30.73% of the issued share capital[38] - Wang Yafei owns 9,600,000 shares, accounting for 7.50% of the issued share capital[38] - Han Dongshen holds 7,040,000 shares, which is 5.50% of the issued share capital[38] - The weighted average number of ordinary shares issued was 128,000,000 for both 2020 and 2019, indicating no change in share structure during this period[19] - The company has not issued, exercised, lapsed, or cancelled any share options during the nine months ended September 30, 2020, with a total of 12,800,000 options unexercised as of that date[40] Corporate Governance - The board has adhered to the corporate governance code and has implemented measures to enhance internal control systems and professional development for directors[42] - The audit committee, established on June 23, 2015, consists of three independent non-executive directors and is responsible for overseeing financial reporting and internal controls[45] Future Outlook - The company plans to diversify its business portfolio by providing subcontracting services for commercial property and residential renovation projects in Hong Kong, expecting new revenue from these initiatives in the coming year[32] - The company anticipates that the construction sector's demand will negatively impact revenue due to ongoing COVID-19 measures and increased competition in bidding prices[32] - The company will continue to manage its expenses and review its business strategies to seek new opportunities in the current market environment[32] Employment - The company employed a total of 83 employees as of September 30, 2020, a slight decrease from 85 employees in 2019[33] Litigation and Other Losses - The company incurred a significant litigation settlement of SGD 700,000 during the nine months ended September 30, 2020[15] - Other income and losses included a settlement amount of SGD 700,000 related to litigation, offset by foreign exchange gains of approximately SGD 267,000[28] Market Conditions - The company operates primarily in Singapore, with all revenue sourced from external customers and all non-current assets located in Singapore[12] - The company’s revenue from public sector clients for the three months ended September 30, 2020, was SGD 430,890, while revenue from private sector clients was SGD 162,195[10] Miscellaneous - No significant events occurred after September 30, 2020[46] - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the review period[41] - The company reported a foreign exchange loss of SGD 119,575 for the three months ended September 30, 2020, compared to a gain of SGD 136,834 in 2019[15]
吉辉控股(08027) - 2020 Q3 - 季度财报