Financial Performance - For the three months ended September 30, 2021, the company reported revenue of SGD 5,753,000, an increase from SGD 5,666,000 in the same period of 2020, representing a growth of 1.54%[28] - The company's gross profit for the nine months ended September 30, 2021, was SGD 16,548,000, compared to SGD 15,935,000 in the same period of 2020, indicating a year-on-year increase of 3.85%[28] - The company achieved a profit before tax of SGD 213,000 for the three months ended September 30, 2021, compared to a loss of SGD 137,000 in the same period of 2020[28] - The net profit for the nine months ended September 30, 2021, was SGD 458,000, a significant improvement from a loss of SGD 570,000 in the same period of 2020[28] - The company's total comprehensive income for the three months ended September 30, 2021, was SGD 174,000, compared to a loss of SGD 161,000 in the same period of 2020[28] - The company reported a basic and diluted earnings per share of SGD 0.01 for the three months ended September 30, 2021, compared to a loss per share of SGD 0.01 in the same period of 2020[28] - For the nine months ended September 30, 2021, the company reported a total revenue of SGD 16,548,000, an increase of 3.85% compared to SGD 15,935,000 for the same period in 2020[39] - The company incurred a total comprehensive loss of SGD 573,000 for the nine months ended September 30, 2021, compared to a loss of SGD 570,000 for the same period in 2020[31] - The company reported a net profit attributable to equity holders of SGD 464,000 for the nine months ended September 30, 2021, compared to a loss of SGD 573,000 for the same period in 2020[53] Expenses and Cost Management - The total expenses for the three months ended September 30, 2021, were SGD 5,540,000, a decrease from SGD 5,703,000 in the same period of 2020, reflecting a cost reduction strategy[28] - Profit for the period increased primarily due to a reduction in depreciation of property, plant, and equipment by approximately SGD 0.08 million, and a decrease in other operating expenses by approximately SGD 0.3 million[73] - Other income decreased by approximately SGD 0.6 million compared to September 30, 2020, due to a reduction in government subsidies received from the Singapore government as the COVID-19 pandemic stabilized[73] Market and Growth Strategy - The company plans to continue its market expansion efforts and invest in new product development to drive future growth[28] - The management expressed optimism about achieving profitability in the upcoming quarters, supported by improved operational efficiencies and cost management strategies[28] - The company has been operating in the Singapore automotive service market for over 17 years, with its passenger car services contributing approximately 100% of total revenue for the nine months ended September 30, 2021[61] - The company has initiated entry into the Chinese automotive market since Q3 2018, focusing on car-sharing and leasing services, although revenue from this segment dropped to zero due to COVID-19 impacts[62] - The company plans to enhance its technical capabilities and service offerings in response to market demands in Singapore and China, aiming to maintain its leadership position in the passenger car market[65] - The company aims to expand its market share through customer retention programs and by strengthening relationships with customers, suppliers, and partners[65] Corporate Governance - The company is committed to high standards of corporate governance, although the roles of Chairman and CEO are held by the same individual[88] - Following the appointment of Mr. Zhao Wei as an independent non-executive director, the company complies with all relevant GEM listing rules and corporate governance code requirements[89] - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with the GEM Listing Rules[87] Shareholder Information - As of September 30, 2021, major shareholders held approximately 29.3% of the company's shares, with Mr. Li Jie and Ms. Han Mei each holding 586,020,000 shares[81] - The company did not enter into any related party transactions during the nine-month period ended September 30, 2021[82] - There were no arrangements made for directors or their close associates to benefit from purchasing shares or debentures of the company during the nine-month period[77] - The company did not grant any share options during the nine-month period ended September 30, 2021[86] Tax and Compliance - The company’s Singapore subsidiary is subject to a tax rate of 17% on estimated profits generated in Singapore[42] - The company has adopted all relevant new and revised International Financial Reporting Standards effective from January 1, 2019, with no significant impact on its accounting policies[34] COVID-19 Impact - The company has implemented multiple preventive measures in its subsidiaries located in Singapore and China to mitigate the risk of COVID-19 impacting business operations[93] - The company experienced a decrease in other income of approximately SGD 0.6 million due to reduced government subsidies as the COVID-19 situation stabilized[68] Future Outlook - The company is preparing for the transition to electric vehicles in Singapore, with the government planning to increase the number of EV charging stations from approximately 2,000 to 60,000 by 2030[64] - The company is collaborating with partners in China to develop a C2N business model for smart shared mobility, with approximately 2,000 private cars registered across multiple cities[65]
中食民安(08283) - 2021 Q3 - 季度财报