Financial Performance - The company's revenue for the three months ended March 31, 2021, was SGD 4,918,573, a significant increase from SGD 1,831,297 in the same period of 2020, representing a growth of 168%[4] - Gross profit for the same period was SGD 1,044,714, compared to SGD 411,337 in 2020, indicating a gross margin improvement[4] - The company reported a pre-tax profit of SGD 571,890, a turnaround from a loss of SGD 43,582 in the previous year[4] - Net profit for the period was SGD 474,490, compared to a loss of SGD 23,382 in 2020, marking a substantial recovery[4] - Basic and diluted earnings per share for the period were SGD 0.371, compared to a loss per share of SGD 0.018 in 2020[4] - Profit attributable to owners of the company was approximately SGD 474,490 for the three months ended March 31, 2021, compared to a loss of SGD 23,382 in the same period of 2020[19] - The gross profit for the three months ended March 31, 2021, was approximately SGD 1,045,000, with a gross margin of about 21.2%, down from 22.5% in 2020[29] Revenue Sources - The income from the signage business was SGD 2,315,818, up from SGD 1,831,297, while renovation and refurbishment services generated SGD 2,602,755 in revenue[12] - The company aims to diversify its business portfolio and expand revenue sources by focusing more on renovation and refurbishment services[33] Expenses and Costs - The company’s financing costs decreased to SGD 7,701 from SGD 19,370, reflecting improved financial management[16] - Selling and administrative expenses decreased by SGD 312,000 or 28.9% to approximately SGD 769,000 for the three months ended March 31, 2021, compared to SGD 1,081,000 in 2020[30] - As of March 31, 2021, the total employee cost, including director remuneration, was approximately SGD 865,000, unchanged from 2020[34] - The company employed a total of 71 employees as of March 31, 2021, down from 80 in 2020[34] Taxation - The effective tax expense for the period was SGD 97,400, compared to a tax credit of SGD 20,200 in the previous year[17] - The tax expense for the three months ended March 31, 2021, was SGD 97,400, compared to a tax credit of SGD 20,200 in 2020[5] Foreign Exchange and Other Income - The company experienced a foreign exchange loss of SGD 27,237, which was an improvement from a loss of SGD 94,905 in the same period last year[4] - The company recorded other income of approximately SGD 107,000 related to COVID-19 subsidies and interest income of about SGD 68,000 from loans receivable[29] Corporate Governance and Shareholder Engagement - The board is committed to adhering to the corporate governance code and has implemented measures to enhance internal control systems[44] - The company has confirmed compliance with the corporate governance code as of March 31, 2021[45] - The report emphasizes the importance of shareholder engagement in decision-making processes[48] Strategic Initiatives - The company plans to utilize the net proceeds of approximately HKD 14,000,000 from a placement of shares to expand its renovation and refurbishment services business[32] - The company is focused on strategic growth through capital raising initiatives[48] - The company aims to enhance its market position through the proposed share placement[48] Future Outlook - Future outlook indicates a slow recovery in construction activity demand in Singapore, with challenges due to competitive bidding prices and rising material costs[33] Shareholder Information - Executive director Chen Tianji holds a controlling interest in Absolute Truth Investments Limited, owning 39,337,600 shares, which represents 30.73% of the issued share capital[35] - Major shareholder Wang Yafei owns 9,600,000 shares, accounting for 7.50% of the issued share capital[37] - The company has granted a total of 12,800,000 share options under its share option scheme, with an exercise price of HKD 0.45 per share, valid until April 8, 2022[42] - No share options were granted, exercised, lapsed, or cancelled during the three months ended March 31, 2021[42] - The company did not purchase, sell, or redeem any of its listed securities during the three months ended March 31, 2021[43] Placement and Announcements - The company has obtained shareholder approval to issue up to 96,000,000 placement shares as of May 4, 2021[48] - The placement agreement with the placement agent is still pending completion as of the report date[48] - The report was published on May 12, 2021, and will be available for at least seven days on the GEM website and the company's website[48] - The executive directors are Mr. Chen Tianji and Ms. Kong Weishan, while the independent non-executive directors include Mr. Liu Mugeng, Mr. Xiao Laiwen, and Mr. Lu Qiaoyan[48] - The company has made several announcements on February 8, March 19, and May 4, 2021, regarding the placement[48] - The company is committed to transparency and will provide updates on the placement process[48] - The special resolution for the placement was passed at the extraordinary general meeting[48]
吉辉控股(08027) - 2021 Q1 - 季度财报