Financial Performance - For the three months ended September 30, 2020, the company reported revenue of SGD 5.666 million, a decrease of 12.9% compared to SGD 6.503 million in the same period of 2019[26]. - The company incurred a loss before tax of SGD 137,000 for the three months ended September 30, 2020, compared to a loss of SGD 204,000 in the same period of 2019, representing a 32.8% improvement[26]. - The total comprehensive loss for the three months ended September 30, 2020, was SGD 161,000, compared to SGD 190,000 in the same period of 2019, indicating a 15.3% reduction in losses[26]. - For the nine months ended September 30, 2020, the company reported total revenue of SGD 15.935 million, down 13.6% from SGD 18.439 million in the same period of 2019[26]. - The company recorded a loss of SGD 570,000 for the nine months ended September 30, 2020, compared to a loss of SGD 940,000 in the same period of 2019, reflecting a 39.2% improvement[26]. - The basic and diluted loss per share for the three months ended September 30, 2020, was SGD 0.01, unchanged from the same period in 2019[26]. - The basic loss per share for the nine months ended September 30, 2020, was (8.03) Singapore cents, compared to (0.05) Singapore cents for the same period in 2019[49]. - The company reported a total comprehensive loss of SGD 573,000 for the nine months ended September 30, 2020, compared to a loss of SGD 940,000 for the same period in 2019[47]. Revenue and Income - The company reported other income and gains of SGD 307,000 for the three months ended September 30, 2020, compared to SGD 22,000 in the same period of 2019, marking a significant increase[26]. - For the three months ended September 30, 2020, customer contract revenue was SGD 5,666,000, a decrease of 12.9% compared to SGD 6,503,000 for the same period in 2019[39]. - For the nine months ended September 30, 2020, customer contract revenue was SGD 15,935,000, down 13.6% from SGD 18,439,000 in the same period of 2019[39]. - Other income and revenue increased by approximately SGD 0.9 million due to government subsidies received during the COVID-19 pandemic[60]. Costs and Expenses - Material costs for the three months ended September 30, 2020, were SGD 3.310 million, a decrease of 10.2% from SGD 3.689 million in the same period of 2019[26]. - Employee benefits expenses decreased to SGD 1.292 million for the three months ended September 30, 2020, down from SGD 1.651 million in the same period of 2019, representing a 21.8% reduction[26]. - Employee benefit expenses decreased by approximately SGD 0.8 million to approximately SGD 4.2 million for the nine months ended September 30, 2020, due to a reduction in workforce across all business units[62]. - The gross profit margin decreased from approximately 46% as of September 30, 2019, to approximately 42% as of September 30, 2020, due to increased material costs[51][61]. - The gross profit margin decreased from approximately 46% to approximately 42%, a reduction of about 4% due to increased material costs[65]. - Depreciation of right-of-use assets increased by approximately SGD 0.8 million due to the adoption of IFRS 16[65]. - Amortization of intangible assets increased by approximately SGD 0.3 million, and financial expenses increased by approximately SGD 0.1 million[65]. Shareholder Information - The company has a total of 2,000,000,000 issued ordinary shares as of September 30, 2020[49]. - Major shareholders, including Mr. Li Jie and Ms. Han Mei, each held approximately 29.3% of the shares[72]. - The total number of issued shares as of September 30, 2020, was 2,000,000,000[67]. Dividends and Recommendations - The company did not recommend any dividend for the nine months ended September 30, 2020, consistent with the previous year[48]. - The board does not recommend the payment of any dividends for the nine months ended September 30, 2020, consistent with the previous year[88]. Operational Insights - The company operates primarily in the automotive service sector, including maintenance, modification, and financing services[34]. - The group has been expanding its business into the Chinese automotive market, with revenue from the Chinese subsidiary decreasing from approximately SGD 1.7 million to approximately SGD 0.6 million due to COVID-19[53]. - The group aims to maintain its leadership position in the Singapore passenger car market by retaining existing customers and acquiring new ones through loyalty programs and promotional offers[57]. - The Singapore government is promoting electric vehicle adoption, with a goal to establish 60,000 charging points by 2030, up from approximately 2,000 currently[56]. - The group is focusing on technological advancements in vehicle maintenance and engine services to enhance service capabilities for various passenger car brands[56]. - Strategic partnerships have been established in China with companies like TELD and ZBJ.com to support the development of a smart shared mobility platform[57]. Governance and Compliance - The financial statements are prepared in accordance with International Financial Reporting Standards and are presented in Singapore dollars[34]. - The company has not experienced significant changes in accounting policies due to the adoption of new and revised International Financial Reporting Standards[34]. - The audit committee reviewed the unaudited consolidated financial performance for the three months and nine months ended September 30, 2020[85]. - The company has adhered to the principles of the corporate governance code and complied with all applicable code provisions during the reporting period[84]. Risk Management - The company has implemented various preventive measures in its subsidiaries in Singapore and China to mitigate the operational risks posed by the COVID-19 outbreak, with no significant impact expected on operations[87]. - The loss for the period decreased from approximately SGD 0.9 million to approximately SGD 0.6 million, a reduction of about SGD 0.3 million[65]. - The decrease in loss was primarily due to an increase in other income and revenue of approximately SGD 0.9 million from government subsidies related to COVID-19[65]. - Employee benefit expenses decreased by approximately SGD 0.8 million, and other operating expenses decreased by approximately SGD 1.5 million[65]. - The company did not purchase, sell, or redeem any of its listed securities during the nine-month period[76]. - The company did not make any significant investments, acquisitions, or disposals in subsidiaries or associates during the nine months ended September 30, 2020[86]. - No related party transactions were established during the nine-month period ending September 30, 2020[74].
中食民安(08283) - 2021 Q3 - 季度财报