Financial Performance - For the three months ended September 30, 2021, the company reported revenue of SGD 950,387, a decrease of 66.5% compared to SGD 2,830,759 for the same period in 2020[9] - The gross loss for the three months ended September 30, 2021, was SGD 1,481,947, compared to a gross profit of SGD 397,603 in the same period of 2020[9] - The company incurred a loss before tax of SGD 2,219,568 for the three months ended September 30, 2021, compared to a loss of SGD 453,853 for the same period in 2020[9] - For the nine months ended September 30, 2021, total revenue was SGD 14,903,404, an increase of 143.5% from SGD 6,127,778 in the same period of 2020[9] - The net loss for the nine months ended September 30, 2021, was SGD 4,327,388, compared to a loss of SGD 2,171,465 for the same period in 2020[9] - The company reported total comprehensive loss of SGD 4,336,037 for the nine months ended September 30, 2021[10] - Basic loss per share for the three months ended September 30, 2021, was SGD (0.46), compared to SGD (0.09) for the same period in 2020[9] - The company’s total equity as of September 30, 2021, was SGD 23,108,804, down from SGD 28,655,599 as of September 30, 2020[10] Revenue Sources - For the three months ended September 30, 2021, revenue from steel structure services was SGD 950,387, a decrease of 66.5% compared to SGD 2,830,759 for the same period in 2020[18] - For the nine months ended September 30, 2021, total revenue from steel structure services reached SGD 14,903,404, an increase of 143.5% compared to SGD 6,127,778 for the same period in 2020[18] - Other income for the nine months ended September 30, 2021, totaled SGD 391,441, an increase of 25.1% compared to SGD 313,073 for the same period in 2020[23] - The revenue from major clients contributing over 10% to total revenue included Client II with SGD 1,823,936 for the nine months ended September 30, 2021[21] - The company primarily operated in Singapore, generating SGD 14,903,404 in revenue for the nine months ended September 30, 2021[22] Costs and Expenses - The company reported financing costs of SGD 189,322 for the nine months ended September 30, 2021, compared to SGD 129,591 for the same period in 2020, reflecting a 46.1% increase[25] - Total employee costs for the nine months ended September 30, 2021, were SGD 3,051,002, an increase of 60% compared to SGD 1,905,366 for the same period in 2020[27] - The company incurred total sales and administrative expenses of approximately SGD 3.0 million for the nine months ended September 30, 2021, compared to approximately SGD 2.7 million in the same period of 2020, reflecting an increase of 9.6%[37] - The company reported a pre-tax loss for the nine months ended September 30, 2021, with significant costs attributed to employee salaries and subcontractor expenses[27] Government Support and Subsidies - The company received government subsidies amounting to SGD 268,963 for the nine months ended September 30, 2021, compared to SGD 193,457 for the same period in 2020, representing a 39.1% increase[23] Market Conditions and Challenges - The company faced challenges in project acquisition due to COVID-19, which slowed down new project opportunities and increased subcontractor costs due to staggered work schedules[46][48] - The construction sector continues to face challenges due to labor shortages, supply chain constraints, and rising construction costs, with third-quarter output remaining weak[51] - The macroeconomic environment remains challenging due to the COVID-19 outbreak, falling oil prices, and geopolitical risks[51] Strategic Plans and Future Outlook - The company is actively seeking to diversify its customer base and expand existing capacity to meet higher demand in the Singapore steel structure industry[48] - The company plans to continue prudent expense management and regularly review business strategies to identify opportunities moving forward[49] - The company plans to enhance its market position in the steel construction industry in Singapore by increasing capacity and hiring more staff[51] Corporate Governance - The board is responsible for ensuring effective risk management practices to mitigate operational risks, with a focus on non-recurring contract nature and potential project delays[48] - The audit committee has been established since June 21, 2017, consisting of three independent non-executive directors[68] - The audit committee reviewed the unaudited performance for the nine months ended September 30, 2021, and provided opinions and recommendations[69] - The board of directors includes three executive directors and three independent non-executive directors as of the report date[70] Shareholder Information - As of September 30, 2021, the company’s major shareholders, Broadbville Limited, hold 331,790,000 shares, representing approximately 69.12% of the issued share capital[53] - There were no unexercised share options under the company's share option plan as of September 30, 2021[64] Dividends - The company did not recommend any dividend for the nine months ended September 30, 2021, consistent with the previous year where no dividend was declared[29][44] - The company does not recommend the payment of dividends for the nine months ending September 30, 2021[65] Regulatory Compliance - The company has adopted a code of conduct for securities trading, compliant with GEM listing rules, with no known violations[60] - The company has not indicated any significant impact from the adoption of new and revised International Financial Reporting Standards on its financial performance[16] Events After Reporting Period - No significant events occurred after the nine months ending September 30, 2021, up to the report date[66]
高原之宝(08402) - 2021 Q3 - 季度财报