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REPUBLIC HC(08357) - 2020 Q1 - 季度财报
REPUBLIC HCREPUBLIC HC(HK:08357)2020-05-08 14:54

Financial Performance - The company recorded revenue of approximately SGD 3.4 million for the three months ended March 31, 2020, an increase of about 21.1% compared to SGD 2.8 million for the same period in 2019[6]. - Gross profit for the period was approximately SGD 2.5 million, representing a 29.4% increase from SGD 1.9 million in the previous year[6]. - Net profit after tax was approximately SGD 95,000, a decrease from SGD 268,061 in the same period last year, primarily due to an increase in tax expenses of SGD 189,000[7]. - Basic earnings per share decreased from SGD 0.05 to SGD 0.02, with profit attributable to owners of the company falling from SGD 268,221 to SGD 94,609[23]. - The group recorded a profit of approximately SGD 95,000 for the period, a decrease of about SGD 200,000 compared to the profit of approximately SGD 300,000 in Q1 2019[36]. Employee Expenses - Employee benefits expenses increased by approximately 44.9% to about SGD 1.3 million, driven by an increase in the number of employees[6]. - Employee benefits expenses increased by approximately SGD 0.4 million or 44.9% to about SGD 1.3 million, primarily due to the hiring of new doctors and staff[32]. - The group had 53 employees in Singapore as of March 31, 2020, compared to 51 employees as of December 31, 2019[39]. Operating Expenses - Other operating expenses increased by approximately SGD 115,000, mainly due to increased marketing efforts and advertising to enhance market awareness[6]. - Other operating expenses increased by approximately SGD 115,000 due to increased marketing efforts and advertising campaigns to enhance brand awareness[35]. - The company’s operating lease expenses have been impacted by the adoption of IFRS 16, resulting in depreciation being recognized instead of rental expenses[6]. Equity and Cash Position - The total equity attributable to the company’s owners as of March 31, 2020, was SGD 13.3 million, an increase from SGD 12.8 million at the end of the previous year[11]. - As of March 31, 2020, the group's cash and cash equivalents were approximately SGD 12.9 million, up from SGD 5.9 million as of December 31, 2019[40]. - The capital debt ratio as of March 31, 2020, was 17.0%, a decrease from 18.6% as of December 31, 2019[41]. - The group has no bank borrowings as of March 31, 2020[40]. - The group maintains a prudent policy for managing cash reserves to ensure readiness for future growth opportunities[46]. Dividends - The company did not declare any dividends for the period, consistent with the previous year[8]. - The board has resolved not to declare any dividends for the period, consistent with the previous year[38]. Business Expansion - The company is actively expanding its network of medical treatment centers, with recent acquisitions planned for April 2020[15]. - The company operates seven DTAP treatment centers and plans to establish two additional centers post-lockdown[29]. - The company continues to focus on expanding market share and enhancing brand reputation in the healthcare sector despite challenges posed by COVID-19[28]. Compliance and Governance - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements and confirmed compliance with applicable accounting standards and GEM listing rules[65]. - The company has established an audit committee in accordance with corporate governance code provisions and GEM listing rules[65]. - The chairman and executive director is Dr. Chen Zhi Xian, with the financial director being Mr. Zhuo Han Wen[66]. - The company has disclosed that there are no conflicts of interest with any directors or controlling shareholders[61]. - The report was dated May 8, 2020, indicating the company's ongoing commitment to transparency and compliance[66]. Tax Expenses - The company reported a current tax expense of SGD 243,607 for the first quarter of 2020, compared to SGD 54,903 in the same period last year[21]. Revenue Composition - Treatment services accounted for approximately 64.5% of total revenue, while medical examination services and consultation services contributed 25.8% and 9.7%, respectively[27]. Accounting Policies - The company has maintained its accounting policies consistent with those used in the preparation of the audited financial statements for 2019[19]. - The company has not experienced significant changes in accounting policies due to the adoption of new or revised International Financial Reporting Standards[19]. Shareholding and Securities - As of March 31, 2020, Cher Sen holds 390,000,000 shares, representing 75% of the total issued shares of 520,000,000[63]. - The company did not redeem any of its listed securities during the period, nor did it or any of its subsidiaries purchase or sell such securities[64]. - There were no other entities, aside from those disclosed, that held interests in the company's shares as of March 31, 2020[60]. - The compliance advisor, Tian Tai Financial Services Limited, reported no interests in the company's securities as of March 31, 2020[62]. - The company has not reported any interests from directors or controlling shareholders in competing businesses during the period[61].