Financial Performance - The company's revenue for the first quarter of 2021 was SGD 5.341 million, a decrease of 12.3% compared to SGD 6.087 million in the same period of 2020[24] - Other income and gains increased to SGD 0.224 million from SGD 0.072 million, representing a growth of 211.1% year-over-year[24] - The cost of materials decreased to SGD 2.895 million from SGD 3.500 million, reflecting a reduction of 17.3%[24] - The company reported a profit before tax of SGD 0.309 million, compared to a profit of SGD 0.033 million in the previous year, indicating a significant improvement[24] - The net profit for the period was SGD 0.260 million, up from SGD 0.033 million, marking a year-over-year increase of 687.9%[24] - Basic and diluted earnings per share increased to SGD 0.013 from SGD 0.002, showing a substantial rise of 550%[24] - Total comprehensive income for the period was SGD 0.260 million, compared to SGD 0.033 million in the same quarter of the previous year[24] - The group's revenue for the three months ended March 31, 2021, decreased by approximately 0.7 million Singapore dollars or -14% to about 5.3 million Singapore dollars, down from approximately 6.1 million Singapore dollars for the same period in 2020, primarily due to the impact of COVID-19 on the Singapore market and no recorded revenue from the Chinese market[50] - The group recorded a profit of approximately 0.3 million Singapore dollars for the three months ended March 31, 2021, compared to a profit of approximately 0.03 million Singapore dollars for the same period in 2020, mainly due to an increase in other income and revenue of about 0.2 million Singapore dollars from government subsidies[50] - The gross profit margin increased from approximately 43% for the three months ended March 31, 2020, to approximately 46% for the same period in 2021, attributed to a slight decrease in material costs[50] - The basic earnings per share for the three months ended March 31, 2021, was 0.013 Singapore cents, compared to 0.002 Singapore cents for the same period in 2020[48] - The group did not recommend any dividend for the three months ended March 31, 2021, consistent with the previous year[43] - The group’s operating expenses decreased by approximately 0.2 million Singapore dollars during the period[50] - The group’s employee benefit expenses increased by approximately 0.1 million Singapore dollars, partially offsetting the profit increase[50] Equity and Investments - The company's total equity as of March 31, 2021, was SGD 8.456 million, a decrease from SGD 8.196 million at the beginning of the year[26] - No significant investments, acquisitions, or disposals were made by the group during the three months ending March 31, 2021[81] - The company has not purchased, sold, or redeemed any of its listed securities during the three months ending March 31, 2021[74] Operational Outlook - The company has maintained a cautious outlook for future performance, considering market conditions and operational challenges[21] - The management is focused on cost control and efficiency improvements to enhance profitability moving forward[21] - The group aims to maintain its leadership position in the Singapore passenger car market by retaining existing customers and acquiring new ones through customer retention programs[55] - The group has accumulated approximately 2,000 private cars registered and operating through its innovative integrated car-sharing service platform across multiple cities in China[55] - The group plans to expand its electric vehicle charging infrastructure in Singapore, aiming to increase the number of charging stations from approximately 2,000 to 60,000 by 2030[54] - The group continues to pursue technological advancements in maintenance equipment and new car engine types to enhance service capabilities for various passenger car brands[55] - The group’s operations in China, which include car-sharing and leasing services, are expected to provide excellent opportunities for diversifying business scope and expanding revenue sources despite the challenges posed by the COVID-19 pandemic[52] Governance and Compliance - The group’s financial statements are prepared in accordance with International Financial Reporting Standards and reflect no significant changes in accounting policies due to the adoption of new standards effective January 1, 2021[31] - The group’s financial results are presented in Singapore dollars, with figures rounded to the nearest thousand Singapore dollars[31] - The group’s tax expenses include a 17% tax rate for profits generated in Singapore and a 25% tax rate for profits generated in China[41][42] - The company has adopted a share option scheme, but no options were granted during the three months ending March 31, 2021[75] - The company has not entered into any related party transactions during the three months ending March 31, 2021[71] - The audit committee reviewed the unaudited financial performance for the three months ending March 31, 2021[80] - The board believes that the current arrangement of having the co-chairman also serve as CEO is beneficial for effective decision-making[77] - The number of independent non-executive directors decreased to two following the resignation of Mr. Zhang Guangdong, leading to non-compliance with certain GEM listing rules[79] COVID-19 Measures - The company has implemented multiple preventive measures against COVID-19 in its subsidiaries located in Singapore and China[82]
中食民安(08283) - 2021 Q3 - 季度财报