Financial Performance - The company recorded revenue of SGD 3.9 million for the three months ended March 31, 2021, an increase of approximately 14.6% compared to SGD 3.4 million for the same period in 2020[5] - Gross profit for the period was SGD 2.6 million, up about 6.8% from SGD 2.5 million in the same period last year[5] - The net profit after tax was approximately SGD 228,000, a significant increase from SGD 95,000 in the previous year, despite rising employee benefits and operating expenses[5] - The total comprehensive income for the period attributable to the owners of the company was SGD 228,000, compared to SGD 94,609 in the previous year[8] - Revenue for the first quarter of 2021 increased by approximately SGD 0.5 million or 14.6% to about SGD 3.9 million compared to the same period in 2020[29] - Treatment services generated revenue of SGD 2,823,280, accounting for 71.5% of total revenue, while medical examination services and consultation services contributed SGD 811,025 and SGD 314,777, respectively[19] - Basic earnings per share for the first quarter of 2021 were SGD 0.00, a decrease from SGD 0.02 in the same period last year[26] - The group recorded a profit of approximately SGD 228,000, a decrease of over 90% compared to SGD 940,000 in Q1 2020[40] Operating Expenses - Employee benefits expenses increased by approximately 8.1% to SGD 1.4 million due to efforts to attract and retain talent for expansion plans[5] - Other operating expenses rose by approximately 69.8% to SGD 0.9 million, attributed to increased promotional activities and the expansion of medical treatment centers from 7 to 10[5] - The increase in operating expenses is primarily due to the operation of more clinics, leading to higher marketing and rental costs[39] - Employee benefits expenses increased by approximately SGD 100,000 or 8.1% to about SGD 1.4 million due to efforts to retain and attract talent for expansion plans[40] - Other operating expenses rose by approximately SGD 400,000 or 69.8% to about SGD 900,000, attributed to increased investments in marketing and promotion activities[40] Dividends and Equity - The board has decided not to declare any dividends for the period, consistent with the previous year[6] - The company’s total equity as of March 31, 2021, was SGD 13.26 million, reflecting the retained earnings and comprehensive income for the period[9] Corporate Structure and Strategy - The company has undergone internal restructuring, acquiring six medical treatment centers, which has been accounted for as a common control transaction[13] - The company continues to focus on expanding its network of medical treatment centers in Singapore to enhance its market presence[11] - The company operates nine DTAP clinics and one S Aesthetic clinic, with plans to expand brand awareness and assess new potential locations[31] - The company has terminated the lease agreement for its Orchard location and is currently seeking alternative premises[31] Financial Position - As of March 31, 2021, the group's cash and cash equivalents were approximately SGD 12.2 million, down from SGD 13.1 million as of December 31, 2020[43] - The capital debt ratio as of March 31, 2021, was 19.0%, a decrease from 20.8% as of December 31, 2020[44] - The group maintained a strong liquidity position with sufficient financial resources to meet operational funding needs[44] Employment and Compliance - The group had 64 employees in Singapore as of March 31, 2021, down from 66 employees as of December 31, 2020[42] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated financial statements and found them compliant with applicable accounting standards and regulations[70] - There were no significant contingent liabilities as of March 31, 2021[48] Shareholding - As of March 31, 2021, Cher Sen holds 390,000,000 shares, representing 75% of the total issued shares of 520,000,000[64] - The company did not repurchase any of its listed securities during the reporting period[68]
REPUBLIC HC(08357) - 2021 Q1 - 季度财报