Financial Performance - For the three months ended September 30, 2020, the company reported revenue of SGD 2,830,759, a 16.3% increase compared to SGD 2,433,156 for the same period in 2019[7]. - The gross profit for the same quarter was SGD 397,603, down 86.9% from SGD 3,023,307 in Q3 2019[7]. - The company incurred a loss before tax of SGD 453,853 for the three months ended September 30, 2020, compared to a profit of SGD 1,560,009 in the same quarter of 2019[7]. - For the nine months ended September 30, 2020, total revenue was SGD 11,155,791, an increase of 37.5% from SGD 8,132,484 in the previous year[7]. - The net loss for the nine months ended September 30, 2020, was SGD 2,171,465, compared to a profit of SGD 4,885,287 for the same period in 2019[7]. - The company reported total comprehensive loss of SGD 2,164,000 for the nine months ended September 30, 2020, compared to a total comprehensive income of SGD 4,887,728 in the previous year[7]. - Basic loss per share for the third quarter was SGD (0.09), compared to earnings of SGD 0.27 in Q3 2019[7]. - For the three months ended September 30, 2020, the company reported a loss attributable to owners of SGD (453,853), compared to a profit of SGD 1,291,097 for the same period in 2019[48]. - For the nine months ended September 30, 2020, the loss attributable to owners was SGD (2,171,465), a significant decrease from a profit of SGD 4,885,287 in the same period of 2019[48]. - The adjusted net loss for the same period was approximately SGD 2,072,000, compared to an adjusted net profit of SGD 5,595,000 in 2019, representing a decline of approximately SGD 7,667,000[58]. - Gross profit for the nine months ended September 30, 2020, was approximately SGD 765,000, down from SGD 9,709,000 in 2019[52]. - The group recorded a pre-tax loss of approximately SGD 1,795,000, compared to a profit of SGD 6,784,000 in 2019, a decrease of approximately SGD 8,579,000[53]. Revenue Sources - For the three months ended September 30, 2020, revenue from steel structure services was SGD 2,830,759, a decrease of 74.6% compared to SGD 11,155,791 for the same period in 2019[25]. - For the nine months ended September 30, 2020, total revenue from steel structure services was SGD 6,127,778, down 84.6% from SGD 39,669,315 in the same period of 2019[25]. - Major clients contributing over 10% of total revenue included Client II, which generated SGD 2,551,862 in the three months ended September 30, 2020, and SGD 3,594,855 in the nine months ended September 30, 2020[26]. - The group primarily operated in Singapore, with total revenue from Singapore amounting to SGD 2,830,759 for the three months ended September 30, 2020, and SGD 6,127,778 for the nine months ended September 30, 2020[30]. Government Support and Other Income - The group received government subsidies of SGD 78,164 during the three months ended September 30, 2020, as part of the COVID-19 Employment Support Scheme[32]. - The group reported miscellaneous income of SGD 4,618 for the nine months ended September 30, 2020, compared to SGD 82,456 in the same period of 2019[32]. - Other income increased to approximately SGD 313,000 from SGD 186,000 in 2019, primarily due to the Singapore government's employment support scheme during the COVID-19 pandemic[52]. Cost Management - Total employee costs for the nine months ended September 30, 2020, amounted to SGD 1,905,366, down from SGD 3,724,208 in the same period of 2019, reflecting a reduction due to COVID-19 impacts[38]. - The company incurred financing costs of SGD 43,676 for the three months ended September 30, 2020, compared to SGD 33,169 for the same period in 2019[36]. - The company recognized material costs of SGD 1,016,247 for the three months ended September 30, 2020, down from SGD 3,417,562 in the same period of 2019[38]. - Depreciation of property, plant, and equipment recognized in service costs for the nine months ended September 30, 2020, was SGD 206,037, compared to SGD 344,396 in the same period of 2019[38]. - The group incurred selling and administrative expenses of approximately SGD 2,743,000, a decrease from SGD 3,006,000 in 2019[52]. Corporate Governance and Compliance - The board approved the unaudited financial information on November 12, 2020, indicating ongoing commitment to transparency and compliance[12]. - The company has adopted a code of conduct for securities trading by directors, compliant with GEM Listing Rules[78]. - The company has established an audit committee to provide independent opinions on financial reporting, internal controls, and risk management systems[87]. - The company believes it has maintained solid corporate governance practices throughout the nine months ended September 30, 2020[79]. Future Outlook and Strategy - The company continues to focus on expanding its market presence and enhancing its service offerings in the construction sector[10]. - The group continues to focus on its core business of providing construction services and is exploring opportunities for market expansion in Singapore and Malaysia[24]. - The construction industry in Singapore is expected to be driven by multiple infrastructure projects, which are part of the government's overall growth strategy[60]. - The group plans to enhance and solidify its market position in the Singapore steel structure industry by increasing capacity and meeting higher demands[60]. - The economic outlook for Singapore has been slightly downgraded, with the Ministry of Trade and Industry forecasting a GDP contraction of 5% to 7% for 2020[64]. - The group will continue to manage expenses prudently and review business strategies while seeking opportunities for growth[62]. Shareholder Information - As of September 30, 2020, Broadbville Limited holds 356,400,000 shares, representing 74.25% of the issued share capital of GT Steel Construction Group Limited[74]. - The company did not recommend any dividend for the nine months ended September 30, 2020, consistent with the previous year[44]. - No significant acquisitions or disposals of subsidiaries, associates, or joint ventures occurred during the nine months ended September 30, 2020[84]. - There were no unexercised share options under the share option scheme as of September 30, 2020, and no options have been granted, exercised, cancelled, or lapsed since its adoption[83]. - The position of Chief Executive Officer remains vacant, with responsibilities assumed by an executive director[81]. Events After Reporting Period - There were no significant events occurring after the nine months ended September 30, 2020, up to the report date[86].
高原之宝(08402) - 2020 Q3 - 季度财报